FUNDAMENTALS OF PROJECT MANAGEMENT

Project, Why Project, Project Management, What is not a Project, Triple Constraint, Process Groups, Types of Projects, Program, Portfolio, Project Management Framework, Integrated approach

WHAT IS A PROJECT
Inputs A need or desire

Outputs Goods Services

Resources Men machine Material Money knowledge

Activity Activity Activity Project

CHARACTERSTICS OF PROJECTS 1. Unique 2. Temporary 3. Progressively Elaborated

1.Projects are Unique
Project
Resource

Activity
Resource

Activity Activity

Goals / Objectives

Resource

Start Date

End Date

2.Projects are temporary

3. Completes, 4. Sucessfull

Stakeholder have vested interest

A project is a temporary endeavor undertaken to create a unique product, service 3 or result PMBOK Guide.

WHY PROJECTS?
To meet strategic business goals and objectives Compresses life cycle Global competition Business needs Customer request Technological advance

WHAT MAKES PROJECTS DIFFERENT?

Projects vs. operations Soft skills and hard skills

PROJECTS AND OPERATIONS

Features Projects Operations

1. Key similarities Planned, execute, and Planned, execute, and controlled, controlled, performed by people. performed by people. Resource Resource constrained. constrained. 2. Purpose 3. Time 4. Outcome 5. People Attain objective and terminate temporary Sustain the organization Ongoing

Unique product, service or result Non-unique product, service or result Dynamic, temporary teams formed to meet project needs. Generally not aligned with organizational structure. Functional team generally aligned with organizational structure.

SOFT SKILLS AND HARD SKILLS

Soft skills include communication and leadership activities. Hard skills include risk analysis, quality control, scheduling, and budgeting work A successful project manager needs both soft and hard skills along with the judgment of when each is more necessary.

PROJECT LIFE CYCLE STAGES

THE TRIPLE CONSTRAINT

Time

Scope

Cost

Also known as the IRON TRIANGLE

PROJECT GOALS AND CONSTRAINTS

Projects are undertaken to accomplish specific goals Scope and quality measure performance and should result in outputs that satisfy customers Consider scope and quality subject to constraints of time and cost Opportunities may allow projects to exceed original expectations. Project Managers (PMs) decide which goals and constraints take precedence.

PROJECT CUSTOMER TRADEOFF MATRIX

NO PROJECT MANAGEMENT
End Result I have a project Random Activities Client

Why plan When you can just start building?

Team members

12

PROJECT MANAGEMENT
End Result I have a project Project activities Activity Activity Set of tools and techniques Project Management Client

Activity
Team members

13

WHAT IS PROJECT MANAGEMENT?

A successful project management means delivery of project result on time, within budget and according to performance. Project management is accomplished through the use of the processes such as: initiating, planning, executing, controlling, and closing. It is accomplished through appropriate application and integration of 42 logically grouped project management processes comprising the 5 process groups.

What are those FIVE Process Groups? What are those 9 Knowledge Areas in Projects? PMBOK Consists of a project life cycle, five process groups, and nine knowledge areas

PMBOK PROCESS GROUPS

Initiating Processdefines and authorizes a project or a project phase Planning Processes defines and refines the project plan to achieve objectives Executing Processes directs and manages people and other resources to accomplish project work Monitoring and controlling Processescollects data and checks progress to determine any needed corrective actions Closing Processes formalized acceptance of project outcomes and ending the project

PROCESS GROUP LINKS

Initiating Processes

Planning Processes

Controlling Processes

Executing Processes

Arrows Depict Information Flows

Closing Processes

All projects typically go through these five processes

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Scope Management

Describes the processes required to ensure that the project will include all the work required and only the work required to complete the project successfully. It consists of initiation, scope planning, scope definition, scope verification and scope change control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Time Management

Describes the processes required to ensure timely completion of project. It consists of activity definition, activity sequencing, activity duration estimation, schedule development and schedule control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Cost Management

Describes the processes required to ensure that the project is completed with in the approved budget. It consists of resources planning, cost estimation, cost budgeting and cost control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Quality Management

Describes the processes required to ensure that the project will satisfy the need for which it was undertaken. It consists of quality planning, quality assurance, and quality control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Integration Management

Describes the processes required to ensure that the various elements of the project are properly coordinated. It consists of project plan development, plan execution and overall change control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Risk Management

Describes the processes concerned with identifying, analyzing, and responding to project risk. It consists of risk identification, risk quantification, risk response development, and risk response control.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Procurement management

Describes the processes required to acquire goods and services from outside the performing organization. It consists of procurement planning, solicitation planning, solicitation, supplier selection, contract administration, contract closeout.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project HR Management
Describes the processes required to make most effective use of the people involved with the project. It consists of organizational planning, staff acquisition, and team development.

PMBOK KNOWLEDGE AREAS

Scope management Time management

cost management

Quality management

Risk Management

Integration management

HR Management

Procurement management

Communication management
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Project Communication Management

Describes the processes required to ensure timely and appropriate generation collection and disposition of project information . It consists of communication planning, information distribution, performance reporting, and administrative closure.

Mapping Of Project Management Processes and PMBOK Knowledge Areas

Life stages

SUCCESSFUL PROJECTS
Deliverables that include all of the agreed upon features. Please the projects customers. Meet quality goals. Meet time and cost constraints. People : Learn new skills and/or refine existing skills. Organizational learning captured for future projects. Earn business-level benefits: development of new products, increased market share, increased profitability, decreased cost, etc.

WHY PROJECTS FAIL

Not enough resources available for project completion. Not enough time given to the project. Project expectations are unclear. Changes in the scope not understood or agreed upon by all parties. Disagreement regarding expectations for the project. Adequate project planning is not used.

TYPES OF PROJECTS
Classifying by industry Classifying by size Classifying by timing of determination of project scope Portfolio

PROGRAMS
Program a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. PMBOK Guide

Programs may last as long as the organization lasts. Specific projects within a program are of limited duration Project managers are concerned with the tradeoffs of cost, schedule, scope, and quality on their individual projects The program manager is concerned with making tradeoffs between projects for the maximum benefit of the entire program.

PROGRAMS
Sometimes Programs also involve the aspect of on-going operation
PROJECT - 1
PROJECT - 2 Oracle Financial Implementation

PROGRAM

PROJECT - 3 OPERATION

Oracle Human Resource Implementation Oracle Manufacturing Implementation

Supporting New Implementation

Oracle ERP Implementation

Example: A construction program might include project to develop new housing and other project to renovate existing homes.

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PROJECT PORTFOLIO MANAGEMENT

Portfolio is the collection of programs and Projects Project portfolio management refers to the selection and support of projects or program investments; e.g. sequencing and assigning priority to current projects relative current organizational resources.
Multiple project may be underway at the same time.
That met specific business goals and objectives
PORTFOLIO PROGRAM - 1 PROGRAM - 2 PROGRAM - 3 PROJECT - 1

Assuming efficent use of resources

Managed by Senior manager in organization

PORTFOLIOS
A portfolio deals with all of an organizations projects. Portfolios should be balanced including:
large and small projects high-risk high-reward and low-risk projects projects that can be completed quickly and some that will take substantial time to finish.

EXAMPLES OF PORTFOLIO MANAGEMENT

An infrastructure firm that has the strategic objective of maximizing the return on its investments may have a portfolio of: Projects in oil & gas Projects in power Projects in water Projects in roads Projects in rail Projects in airports

PROJECTS AND SUBPROJECTS

A large project may be composed of multiple subprojects
Subproject a smaller portion of the overall project created when a project is subdivided into more manageable components or pieces. PMBOK Guide

PORTFOLIO, PROGRAM, PROJECT, AND SUBPROJECT RELATIONSHIPS

SUMMARY
1. 2. 3. 4. 5. 6. 7. 8. 9. Project, Why Project Project Management What is not a Project Process Groups Triple Constraint Types of Projects Program, Portfolio Integrated approach