Sunday, 15 January 2017

Education Edge PMBOK Office Read - Introduction and Framework

PMBOK Office Read - Project Management Introduction and Framework (Chapter 1 and 2)
 
Project

A project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a definite beginning and end

 

Project Management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements (remember requirements that meet the objectives.

 

Project Management Process Groups

1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing

 

Progressive Elaboration

Continually improving and detailing a plan as more detailed and specific information and more accurate estimates become available. Uses the iterative process of continually re-looking at and refining the plan to make it accurate.

 

Portfolio

A collection of programs and other work that are grouped together to facilitate effective management of that work to facilitate strategic business objectives.

 

Portfolio Management

• The central management of one or more portfolios. Includes identifying, prioritizing, authorizing, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives
• Project portfolio management refers to the selection and support of projects or program investments.
• These investments in projects and programs are guided by the organization`s strategic plan and available resources.

 

Program

A group of related projects managed in a coordinated way to obtain benefits and control. Includes related work outside the scope of the discrete projects in the program. A project may or may not be part of a program; a program will always have projects. Think the Space Program.

 

Program Management

The centralized coordinated management of a program to achieve the programs strategic objectives and benefits. Projects within a program are related through the common outcome or collective capability. Focuses on the project interdependencies and helps to determine the optimal approach for managing them

 

Strategic considerations that typically authorize a project (reasons for a project to start)

• Market Demand;
• Strategic opportunity / business need;
• Social Need
-Environmental Consideration
-Customer Request
• Technological advancement;
• Legal requirements;

 

PMO

Project Management Office. A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools and techniques. Can be supportive (consultative), controlling (monitoring and auditing), or directive (takes charge of projects).

 

How can a PMO support project managers?

• Managing shared resources across all projects administered by the PMO;
• Identifying and developing project management methodology, best practices, and standards;
• Coaching, mentoring, training, and oversight;
• Monitoring compliance with project management standards, policies, procedures, and templates via project audits;
• Developing and managing project policies, procedures, templates, and other shared documentation (organizational process assets); and
• Coordinating communication across projects

 

Business Value

The entire value of the business; the total sum of all tangible and intangible elements. PM can assist by effectively managing projects and delivering quality products.

 

Project Manager

The person assigned by the performing organization to achieve the project objectives

 

Characteristics of a project manager

• Knowledge of project management;
• Performance: what the project manager is able to do or accomplish whilst applying the project management knowledge;
• Personal: how the project manager behave - encompasses attitude and leadership

 

PMBOK

Project Management Body of Knowledge. A standard of managing most projects most of the times across many industries; Describes the project management processes, tools, and techniques used to manage a project;

 

Organization Process Assets

The plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization. They include any artifact practice or knowledge from any or all of the organizations involved in the project.

 

Org's processes and procedures for conducting project work include (any historical documents:

-Initiating and planning: Guidelines, Standards, templates
-Executing Monitoring and Controlling: Status reports, Change control documents, financial controls, issue and defect  management , communication, risk control or register or RAID logs, performance measurement,
-Closing: Project closure guidelines or requirements, lesson learned

 

Corporate Knowledge Base from the Org Process assets include:

- Configuration management
-Financial databases
-Historical info
-Issue and defect management databases
-Process measurement databases
-Project files from previous projects

 

Enterprise environmental factors

Conditions not under the control of the project team, that influence,
constrain or direct the project
-culture
-geographic distribution of facilities
-gov't or industry standards
-infrastructure
-human resources
-established communication channels
-stakeholder risk tolerance

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