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Flashcards by minal Kotwal, updated more than 1 year ago
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Created by minal Kotwal
almost 8 years ago
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| Question | Answer |
| PMI and the BOK: - The project management body of knowledge (PMBOK) is an inclusive term that describes the sum of knowledge within the profession of project management - The PMBOK included knowledge of widely used pratices, as well as advanced less used pratices - The guide to the Project management body of knowledge (PMBOK Guide) is a project management standard developed by the project management institute (PMI) - The PMBOK is widely accepted to be standard in project management | PM Body of knowledge: The nine knowledge areas are: 1. Porject integration management 2. Project scope management 3. Project time management 4. Project cost management 5. Project quality management 6. Project human resource management 7. Project communications management 8. Project risk management 9. Project procurement management |
| Purpose of PMBOK Guide: - Identifies generally acceptable and recognised good practices in PM, i including processes, skills, tools adnd techniques. Which can have significant impact on project success - Promote common words used in PM profession - A guide rather than a method - Establishes guidelines for PM processes, tools and techniques - Talks about basic obligation of responsibility, respect, fairness and honesty | Relationship among Project, program, and portfolio management : - Portfolio management - Program management - Projects and strategic planning - Project management office |
| Portfolio management: - Project management is controlled by program and portfolio management - Portfolio is a collection of projects or programs and other works grouped together to help effetcive management of that work to meet strategic objectives - Projects or programs of a porfolio may not necessarily be interdependent or directly related - Porfolio management refers to centralised management of one or more portfolios. This includes identifying, prioritising, authorising, managing and controlling projects, programs and other work, to achieve other strategic business objectives - It focuses on ensuring that projects and programs are reveiwing to prioritise resource allocation, and that the management of portfolio is consistent with and aligned to organisational strategies | Program management: - A group of related projects managed in a coordinated way to obtain benefits and control. Which is NOT available from managing them individually - Programs may include elements of related work outside the scope of discrete projects in the program - A project may or may not be part of a program but a program will always have a projects - Program management is centralised coordinated management if a program to achieve the program's strategic objectives and benefits - Projects within the program are related through common outcome or collective capability - If the relationship is only a shared client, seller, technology, or resource the effort must be managed as a portfolio of projects rather than a program |
| Continued: - Program management focuses on the project interdependencies and helps to work out the optimal approach to manage them - Action relating to these interdependencies include: * Resolving resource constraints or conflicts that affect multiple projects within the program * Aligning organisaiton/strategic directions that affects project and program goals and objectives * Resolving issues and change management within a shared governance structure | Project management office (PMO) - An organisational body given repsonsibilities related to the centralised and coordinated management of projects - Responsibilities can range from providing project management support functions to actually being responsible for the direct management of a project - Project supported/administered by the PMO may not be related, other than being managed together - There may be a delegated authority that acts as an integral stakeholder at the beginning of each porject to make recommendations, or to terminate the project, or to take other actions as required to keep the business objectives consistent - it may be invovled in the selection, management, and deployment of project resources |
| PM and PMO's have different objectives. But they are the same with the strategic needs. The differences are: - PM focuses on the specified project objectives - PMO manages major program scope changes, which may be seen as potential opportunities to better achieve busines objectives - PM controls the resources to achieve the project objective succesfully - PMO optimises the use of shared organisation resources across projects - PM manages the constraints of a single project - PMO manages the methods, standards, overall risk/opportunity, and interdependencies amongst all projects. | Projects and strategic planning: You can think of project as a step to achieving an organisation's strategic plan. They're given the go ahead because of these factors: - Market demand - car company's need to deliver a more fuel efficient car in response to demand - Strategic opportunity/business need - training authorising a project to create a new course to increase revenue - Customer request - build a new thing for customers - Technology advance - project to develop faster cheaper cell phones - Legal requirements - project to comply with a new legislation - GST compliance |
| Project vs operational management: - Operations are an organisational function performing the ongoing activties that result in the same product or the same service - Project requires project management, while operation require business project management - Projects can intersect with operations at varioud points during the product lifecycle * closeout phase of a project, end of a lifecycle of a product * development/upgrade of product * improvement of operational or product developement | Role of a project manager - Person assigned by the performing organisation to achieve the project objectives - Differs from a functionala and operational manager (functional manager is focusses on providing project managemenr oversight for an administrative area) (Operations manager is responsible for a facet of core business) - Depeneding on the oragnisation, a project manager will report to functional, portfolio or program manager |
| The PM should have the area specific skills, and management skills, but also: - Knowledge - what the PM knows about project management - Performance - what PM is able to do while applying his project managment knowledge - Personal - how the PM behaves when performing the project relasted activity (attitude, core personality, leadership) with ability to guide them while achieving pbkects and balacing constraints | |
| Enterprise environemental factors: - Internal and external factors that surround and influence a project's success - These factors may enhance or constraint project management options, with positive or negative infuence on the outcome | They are considered as inputs to planning processes. They include but are not limited to : - Oraganisational cultutre, structure, and processes - Government and industru standards - Infrastructure - Existing human resources (skills, disciplin, knowledge, laws etc) - Personnel administration - Company work authorisation system - Market conditions, political climate - Stakeholders risk tolerance - Project management information systes (tools, software, etc) |
| Project stakeholders: - Persona or organisation (incl. cusotmers , sponsors, public) actively involved - Their interest can positively or negatively influence the completion and the performance of the project - You must identify the internal and external stakeholders to work out project requirements and expectations - Must manage their influence in relation to project requirements to ensure a successful outcome | |
| Oraganisational process assets also influence the project's perfomance. This includes: - formal/informal plans - policies - templates - procedures, and guidelines Oragnisatonal corporate knowledge base for storing and retrieving info is also critical for the project's performance. This includes: - Process management database - Project filles - Historial info and lessons learnt - Issues and defect management databases - Configuration management knowledge databases - Financial databases | next |
| Project life cycle: - Collection of generally sequential and some time overlapping project phases worked out by the * Management and control needs of the organisations involved * Nature of the project * Area of application - Projects vary in size but can be mapped in to the lifecycle of : * starting the project * orgaising and preparing * carrying out the project * closing | 5 process groups: 1. Initiating processes - Performed to define a new project or a phase of an existing project by obtaining authorisation to start the project or the phase 2. Planning processes- performed to establish the total scope of the effort, define and refine objectives, and develop the course of action required to attain those objectives 3. Executing processes - pperformed to comeplete the work defined in the project management plan to satisfy the project specs 4. Montoring and controlling - performed to track, review, and regulate the progress and performance of the project 5. Closing processes - performed to finalise all activities across all project management process groups to formally close the porject, phases or obligations |
| Project management knowledge areas: - Integration - actions to ensure that the components of a project work with each other properly, and with the wider organisation - Scope - actions to ensure that the project includes all and only the work required to meet goals and obectives - Time - actions to ensure timely performace of all aspects of the project - Cost- actions to esnure the project is completed within the budget - Quality - actions to ensure the project and the deliverables satisfy corectness - Human resources - actions to ensure the most effective use of people | - Communications - acitons to manage project information - Risk management - actions to ensure project risks are identified, analyses, and addressed - Procurement - actions to ensure the acquisition of external goods and services |
| Project management are described in terms of inputs, tools and techniques, and outputs - inputs - documents, plans, designes - tools & techniques - mechanisms applied to inputs - Outputs - documents, products and services | Project integration management : - Includes processes and activities to identify, define, combine, unify, and coordinate the various processes and project managemet activities with the the process groups. It comprises of: - develop project charter - develop project management plan - direct and manage project execution - monitor and control project work - perform integrated chnage controls - close project |
| Project charter- Planning process overview: 1. Develop and evaluate the concept of the project 2. Carefully identify what project deliveravles must have to be successful 3. create a system 4. test the prototype 5. integrate the deliverable into target system 6. Validate the deliverable 7. Let client test it 8. Make sure client understands operating and maintenance requirements | - Once approved the project should have a launch meeting - Project manager should review project objectives 1. make sure they understand 2. identify important senior managers 3. determine if anything is wrong Senior manager introduces project to the group - project manager chairs launch meeting Results of launch meeting: - Project's scope is understood - Various functional managers understand their reponsibilities and have commited to develop and initial task and resource plan - Any potential benefits to the oragnisatio n outside the scope are noted |
| Sorting out the project - WBS - Main purpose of the WBS is to ensure that no task is overlooked | RACI Matrix - is a table - project tasks derived from the WBS listed in rows and departments and individuals listed in columns - Helps organise the project team |
| Risk management : 3 major areas: 1. Risk identification 2. Risk analysis 3. Response to risk | Risk management planning: - Like any other planning process - must make sure that the imp resource can be applied in timely manner - continuous process - the factors that cost uncertinty change over time |
| Risk identification and qualitative risk analysis: Step 2 and 3 are often carried out together - Scenario analysis * well knows method for identifying risk * involves envisioning likely scenarios and resulting outcomes - Failure mode and effect analysis (FMEA) 1. List ways project might fail 2. List consequence and evaluate its severity 3. List cause and likelihood 4. Estimate the ability to detect each failure 5. Calculate the risk priority number 6. Sort the potential failure by their risk priority numbers | Quantitive risk analysis: - State outcomes as probability distribution and use these distributions to evaluate the desireability of certain decisions - Objective is to show the risk progile of the outcomes - Risk profiles are one factor to consider in making the decision - Techniques for analysis include: expected value, simulation |
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