project management

Fundamentals of Project Management:

Fundamentals of Project Management Chapter-1 From PMBOK 4 th Edition @2008 PMI

What is a Project?:

What is a Project? ?

What is a Project?:

What is a Project? A project is a sequence of unique, complex and connected activities having one goal or purpose that must be completed by a specific time, wthin budget and according to specification A project is a complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs Projects are ad hoc, resource-consuming activities used to implement organizational strategies, achieve enterprise goals and objectives, and contribute to the realization of the enterprise‘s mission

Main features of a project:

Main features of a project It is a temporary endeavor undertaken. To create a unique product, service or result Temporary, therefore, has a start and an end End is reached when Objectives have been achieved When objectives will not or cannot be met Need for the project does no longer exist What can be the duration of a project? What about the outcome of a project?

Examples of Projects:

Examples of Projects Developing a new product or service (Why) Effecting a change in the structure, staffing or style of an organization Developing or acquiring a new modified information system Constructing a building or infrastructure Implementing a new business process or procedure Give examples of Projects in Pakistan / World

What is Project Management?:

What is Project Management? It is the application of: Knowledge Skills Tools Techniques To do project activities to meet project requirements It is accomplished through appropriate application and integration of 44 logically grouped project management processes comprising the 5 process groups. What are those FIVE Process Groups?

Mapping the Processes :

Mapping the Processes Initiating Planning Executing Controlling Closing 4. Integration 4.1 Develop Project Charter 4.2 Develop Preliminary Project Scope Statement 4.3 Develop Project Management Plan 4.4 Direct and Manage Project Execution 4.5 Monitor and Control Project Work 4.6 Integrated Change Control 4.7 Close Project 5. Scope 5.1 Scope Planning 5.2 Scope Definition 5.3 Create WBS 5.4 Scope Verification 5.5 Scope Control 6. Time 6.1 Activity Definition 6.2 Activity Sequencing 6.3 Activity Resource Estimating 6.4 Activity Duration Estimating 6.5 Schedule Development 6.6 Schedule Control 7. Cost 7.1 Cost Estimating 7.2 Cost Budgeting 7.3 Cost Control 7 PM Knowledge Area Process Group

Mapping the Processes (cont.):

Mapping the Processes (cont.) I Planning Executing Controlling Closing 8. Quality 8.1 Quality Planning 8.2 Perform Quality Assurance 8.3 Perform Quality Control 9. Human Resource 9.1 Human Resource Planning 9.2 Acquire Project Tm 9.3 Develop Project Tm 9.4 Manage Project Tm 10. Communications 10.1 Communications Planning 10.2 Information Distribution 10.3 Performance Reporting 10.4 Mange Stakeholders 11. Risk 11.1 Risk Management Planning 11.2 Risk Identification 11.3 Qualitative Risk Analysis 11.4 Quantitative Risk Analysis 11.5 Risk Response Planning 11.6 Risk Monitoring and Control 12. Procurement 12.1 Plan Purchases and Acquisitions 12.2 Plan Contracting 12.3 Request Seller Responses 12.4 Select Sellers 12.5 Contract Admin 12.6 Contract Closeout 8 PM Knowledge Area Process Group

Five Process Groups:

Five Process Groups Initiation Planning Execution Monitoring and Controlling Closing

Project Management Process Groups:

Project Management Process Groups 10 Initiating Processes Planning Processes Executing Processes Closing Processes Monitoring & Controlling Processes

Managing a Project Includes:

Managing a Project Includes Identifying Requirements Addressing various needs, concerns and expectations of the stakeholders during planning and execution of the project To control the project constraints the focus is on: Scope Quality Schedule Budget Resources Risk

Why Projects?:

Why Projects? To meet strategic business goals and objectives: Strategic opportunity Business needs Customer request Technological advance Legal requirements

Relationship Between:

Relationship Between Project Management Portfolio Management Program Management

What is Portfolio Management?:

What is Portfolio Management? resource allocation to achieve corporate new product objectives.

Portfolio Management:

Portfolio Management Portfolio (finance) , a collection of investments held by an institution or a private individual Career portfolio , an organized presentation of an individual's education, work samples, and skills Artist's portfolio , a sample of an artist's work or a case used to display artwork, photographs etc Product portfolio (business administration) , 2D separation of products by their market share and profits or growth rates (BCG) IT Portfolio, in IT portfolio management , the portfolio of large classes of items of enterprise Information Technology (IT) Project Portfolio, in Project Portfolio Management , the portfolio of projects in an organization. It is a collection of projects or programs and other works that are grouped together to facilitate effective management

Examples of Portfolio Management:

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

Program Management:

Program Management Program Management is defined as a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside the scope of the discrete projects in the program A program will always have projects.

Program Management:

Program Management It focuses on the project interdependencies and help to determine the optimal approach for managing them. Resolve resource constraints & conflicts Aligning organizational direction Resolve issues and change management within a shared governance structure

Example of a Program Management:

Example of a Program Management A new communication satellite system: Designing of a satellite and ground system Construction of a satellite and ground station Integration of the system Launching of the satellite

Project Management Office (PMO):

Project Management Office (PMO) It is an organized body or entity assigned coordinated management of projects under its domain It is the key decision maker during the beginning of each project It is also responsible for the selection, management and deployment of shared or dedicated project resources

Functions of (PMO):

Functions of (PMO) Managing shared resources Identifying & developing project management methodology, best practices and standards Coaching, monitoring, training and oversight Monitoring compliance project audits Developing & managing project policies, procedures, templates and other standard documentation? Coordinating communication across projects

Project Manager :

Project Manager Focuses on a specific project objective Controls resources to best meet project objectives Manages the constraints (scope, schedule, cost and quality etc) of individual project

Project Management Vs Operation Management:

Project Management Vs Operation Management How they are different? When do they interact?

Project Management Vs Operation Management:

Project Management Vs Operation Management Operations are permanent endeavors that produce repetitive outputs with resources assigned to do same set of tasks It is an ongoing nature of operations Projects are unique Projects are temporary endeavors

Characteristics of a Project Manager:

Characteristics of a Project Manager Knowledge: Must be well versed with project management. ? Performance: Application of project management knowledge Personal: Behavior of the project manager: Effectiveness Attitude Personality characteristics (Michael Dell) Leadership, guidance to balance project constraints

Enterprise Environmental Factors:

Enterprise Environmental Factors Organizational culture, structure & processes Government or industry standards Infrastructure: Existing facilities and capital equipment Existing human resource Marketplace conditions Stakeholder risk tolerance Potential climate Political climate Established communication channels Commercial databases: cost, risk study / info Project management information systems (blog)