MODULE 1

INTRODUCTION TO PROJECT MANAGEMENT

(Prince 2 and PMP)

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Projects, Program, Portfolio
Project, Program, and Portfolio Management.
The relationship between project, program, and portfolio management can best be described
like this:
• A project is a temporary endeavor undertaken by a company or organization (such as the
creation of a new product, service, or result).

• A program is a group of projects that are similar or related to one another, and which are
often managed and coordinated as a group instead of independently.

• A portfolio is a group of different programs and/or projects within the same organization,
which may be related or unrelated to one another.
Put another way, projects fit within larger programs, which themselves fit within portfolios.

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Projects, Program, Portfolio

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 Project Definition
A project is a temporary organisation that is
created
for the purpose of delivering one or more
business products according to an agreed
Business Case

Organisation - The Project Team

Temporary - Definite start and end
Business Case - Reason for the project

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 Five Characteristics of a Project
1. Change - Project introduce new things

2. Temporary - Has definite start and an end

3. Cross-functional - Involves people from different fields

4. Unique - Two identical projects are never

done

5. Uncertainty - Uniqueness + Change =

uncertainty

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 Six Project Variables
These are the six aspects / variables to control in a project.
Also known as the Six Performance Targets
(PMO’s help their PM’s to manage this)

Timescale
Cost

Quality

Scope

Benefit

Risk

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 Project Stages 1

1. Project Initiation
2. Project Planning
3. Monitored and controlled Product
development
4. Project Closure

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 Project Stage Activities.

Explain the stages

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 What is a Program?
Multiple projects may be needed to accomplish a set of goals and objectives for an
organization. In those situations, projects may be grouped together into a program.
A Program is defined as a group of related projects, subsidiary programs, and program activities
managed in a coordinated manner to obtain benefits not available from managing them
Individually.
Programs are not large projects. A very large project may be referred to as a megaproject.
Program Management is defined as the application of knowledge, skills, and principles to a program
to achieve the program objectives and to obtain benefits and control not available by managing
program components individually.
• Project management focuses on interdependencies within a project to determine the optimal
approach for managing the project.
• Program management focuses on the interdependencies between projects and between projects
and the program level to determine the optimal approach for managing them .

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 What is a Portfolio?
A portfolio is defined as projects, programs, subsidiary portfolios, and operations managed as a group to
achieve strategic objectives.
Some organizations may employ the use of a project portfolio to effectively manage multiple programs and
projects that are underway at any given time.

For example, an infrastructure organization that has the strategic objective of maximizing the return on its
investments may put together a portfolio that includes a mix of projects in oil and gas, power, water, roads,
rail, and airports. From this mix, the organization may choose to manage related projects as one portfolio. All
of the power projects may be grouped together as a power portfolio. Similarly, all of the water projects may
be grouped together as a water portfolio.

However, when the organization has projects in designing and constructing a power plant and then operates
the power plant to generate energy, those related projects can be grouped in one program. Thus, the power
program and similar water program become integral components of the portfolio of the infrastructure
organization.

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 Portfolio Management.
Portfolio management is defined as the centralized management of one or more portfolios to
achieve strategic objectives. The programs or projects of the portfolio may not necessarily be
interdependent or directly related.
Portfolio components are prioritized so that those contributing the most to
the organization’s strategic objectives have the required financial, team, and physical
resources.
Portfolio Management helps to
• Guide organizational investment decisions.
• Select the optimal mix of programs and projects to meet strategic objectives.
• Provide decision-making transparency.
• Prioritize team and physical resource allocation.
• Increase the likelihood of realizing the desired return on investment.
• Centralize the management of the aggregate risk profile of all components.

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Relationship between Portfolios, Programs and Projects.

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Projects, Programs and Portfolios - Conclusion
• In conclusion, Portfolios, Programs and Projects often engage with
the same stakeholders and may need to use the same resources
which may result in a conflict in the organization. This increases the
need for coordination within the organization through the use of
portfolio management, program management, and project
management to achieve a workable balance in the organization.
• Program and project management focus on doing programs and
projects the “right” way; and Portfolio management focuses on doing
the “right” programs and projects.

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 Project Methodologies

Methodologies/Framework
in
Project Management

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 Methodologies in Project Management

Methodology: A set of principles or rules from which specific steps/procedures may be

used to provide a solution. A methodology is not a formula but a set of practices.
A Framework is a set of standardized templates, processes, activities, and tools used
to plan, start, control, and finish a project. It outlines the steps you should take to keep
your project on track, helps your teams collaborate better, and increases your chances
of project success.

PRINCE 2 ✔ (Methodology)
PMP ✔ (Framework)
SCRUM (AGILE) ✔ (SCRUM is a Framework within the Agile Methodology)
The list goes on.....

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 Project Management

PRINCE 2
As a
Methodology
For
Managing Projects
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 PRINCE 2
PRINCE2 (an acronym for PRojects IN Controlled
Environments) is a de facto process-based
methodology for effective project management.
Applying
Best Practices

Adapting to suit
the current project
environment
PRINCE 2

List of Items that must be

Continually Addressed

Set of Activities to be carried out

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PRINCE 2 : Principles
These Principles apply regardless of the project’s field, have been validated over time as the most effective set
practices; and allow the PM to influence the outcome of the project

Continued
A PRINCE2 project has continued business justification at each stage
Business Justification

Learn from Experience PRINCE2 project teams learn from previous experience (lessons are sought,
(on previous Projects) recorded and acted upon throughout the life of the project).

A PRINCE2 project has defined and agreed roles and responsibilities with an
Defined Roles and
organisation structure that engages the business, user and supplier
Responsibilities
stakeholder interests.

A PRINCE2 project is planned, monitored and controlled on a stage by stage

Managed by stages
basis.

A PRINCE2 project has defined tolerances for each project objective to

Managed by exception
establish limits of delegated authority.

A PRINCE2 project focuses on the definition and delivery of products, in

Focus on products
particular their quality requirements.

Differences of a project due to it’s size, environment, complexity,

Tailored to suit a Project’s importance, capability and risks, requires different levels of monitoring,
environment reporting and controlling.

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 PRINCE 2 : Themes
Establish mechanisms to judge whether the project is (and remains)
Why are we
Business Case desirable, viable and achievable as a means to support decision-making in
doing this
its continued investment.

Define and establish the project’s structure of accountability and

Who is involved Organisation
responsibilities.

What are we Define and implement the means by which the project will create and
Quality
building verify products that are fit-for-purpose.

Where? When?
Facilitate communication and control by defining the means of delivering
How Much? Plans
the products.
By Whom?

Identify, assess and control uncertainty, and as a result improve the ability
So What If? Risks
of the project to succeed.

Identify, assess and control any potential and approved changes to

Only If Changes
baselined objectives.

Where are we Establish mechanisms to monitor and evaluate actual achievements with
now? Where are Progress planned in order to provide a forecast for the project objectives, including
we going? its continued viability.
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 PRINCE 2 : Processes
Each process consists of certain activities that must be completed during the project

The project team is assembled, the project approach is decided and business justification
Starting Up is documented.
SU
the Project Activities: assemble project management team, create project brief, agree upon project
approach, plan for project initiation phase.

Directing This involves the project board giving a series of authorisations (usually after each stage),
DP
the Project giving ad-hoc/emergency directions and confirming project closure.

Project planning work is continued.

Initiating/Planning
IP Activities: document the project plan, business case, risks, project controls and the plan
the Project for the next stage of the project.

Includes end of stage activities and planning for the next stage. Also decides what should
Managing be done for stages that have exceeded tolerance levels.
SB
Stage Boundaries Activities: stage planning, updating the project plan, updating the business case,
updating the risk log, reporting the end of the stage end, creating a exception plan.
The project is broken down into stages and each stage is controlled separately.
Controlling Stages CS Activities: progress assessments, managing issues, status reviews and reporting, taking
corrective actions, issue escalation, receiving completed work packages.

Managing Managing the acceptance, execution and delivery of project work.

PD
Product Delivery Activities: accept a work package, execute a work package, deliver a work package.

Project wrap up.

Closing
CP Activities: formally de-commission the project, project evaluation, identify follow up
a Project actions

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 PRINCE 2 : Processes

First and Subsequent

Initiating Planing Final Delivery
Deliveries

Directing DP

SU
SB SB . CP
Managing .
IP CS . CS

.
Delivering PD . PD
.

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 Project Management

PMP
As a
Framework For
Managing Projects

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 PMP
Project Management Professional (PMP) certification is an industry
recognized credential for project managers. PMP demonstrates the
experience, education, skill and competency required to lead and direct
projects.

PMP’s project management rules are mainly governed by PMI’s A Guide to

the Project Management Body of Knowledge (PMBOK® Guide).

According to PMBOK, project management includes:

5 Phases
10 Knowledge Areas
49 Processes
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PMP
5 Phases of Project Management Life Cycle

▪ Initiating
▪ Planning
▪ Executing
▪ Monitoring and Controlling
▪ Closing

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 The 10 PMP knowledge areas are:

• 1. Project Integration Management • 6. Project Resource Management

• 2. Project Scope Management • 7. Project Communications Management

• 3. Project Schedule Management

• 8. Project Risk Management

• 4. Project Cost Management

• 9. Project Procurement Management

• 5. Project Quality Management

• 10. Project Stakeholders Management
 1. Project integration Management.

In the initiation stage, the project charter is developed. The project

charter is a key element which describes the whole project in brief. The
project charter generally includes the objective of the project,
stakeholders, risks identified etc.
After initiating the project, the project management plan is developed
and executed by directing and managing project work and knowledge.
After executing the project, the project work is monitored and
controlled with the integrated change required and close the project
successfully.

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 2. Project Scope Management.
Project scope management is to define what is included in the project and what is not included in the project. The scope of
the project is the work that is involved and the factors to execute the project successfully. There are 6 project scope
management processes in planning and controlling process group.

In the Planning process group:

•Planning scope management: Based on the project charter, the plan is created to define the scope.

•Collecting requirements: Based on the scope management plan and stakeholder’s consultancy, the requirement is
collected.

•Defining scope: based on plan scope management, project charter and requirement, the scope is defined.

•Creating WBS: Creating a work breakdown structure to simplify the whole project into individual tasks.

•Validating scope: the outcome of individual tasks are reviewed and inspected.

In the monitoring and controlling process group:

•Controlling scope: after the execution of a project or task, the scope of work is monitored and controlled. The performance
reports are prepared to check if the scope meets the requirements.

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 3. Project Schedule Management.
Project schedule management involves the listing of the tasks, deliverables, duration,
stakeholder assigned, start and end date of the tasks within the project.
Time management completely depends on the proper schedule management.
It involves 7 schedule management processes in the planning process group and controlling
process group.
In the planning process group:
Planning schedule management: Creating a schedule plan and determining who is
responsible for the specified task.
Defining project activities: Project activities are defined according to plan schedule
management. List of activities are created similar o work breakdown structure.

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 3. Project Schedule Management (Contd.)
Sequencing activities: Based on project activities, a sequence of all the activities
are created according to priority.

Estimating resources and duration: Based on schedule plan and activities,

human resources and durations are assigned.

Developing the project schedule: Based on all the above processes, the project
schedule is developed in the monitoring and controlling process group:

Controlling schedule: after the execution of a project or task, the duration is

checked and controlled if it exceeds the allotted time.

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 4. Project Cost Management.
Cost is the most critical factor in any organization. The process of estimating, allocating and controlling the
cost of the whole project comes in project cost management. The budget is fixed according to the project
activities. The costs are estimated during the planning phase and controlled if it exceeds during execution.
The 4 processes are involved in Project Cost Management:
Planning cost management: Cost is planned based on the project activities, sequence of activities and
duration allocated for each task.
Estimating Costs: Based on the cost management plan, the cost is estimated for each task.
Determining Budget: Based on estimated cost, the budget is prepared considering schedule management on
a project basis.
In the monitoring and controlling process group:
Controlling costs: During the execution phase of the project, the cost is monitored and if it exceeds or the
risk identified that the cost might increase beyond the limit. it is controlled as the cost is the most critical
factor in project management.
The cost flow is recorded, and the overall report is prepared till the closing of the project.

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 5. Project Quality Management.
The process of achieving assured quality with respect to scope, time and cost is project quality
management. With proper quality management, an organization can achieve customer satisfaction and
enhance further productivity. The process of quality management is in three phases of project
management: Planning, execution, and monitoring and controlling.
In the planning phase:
Planning Quality Management: Planning quality plays a vital role in the success of the projects. The
methodology used, the resource assigned, the cost allowed and the time allocated are the major factors
affecting quality. Quality planning is done considering all the factors.
In the execution phase:
Managing quality: During the execution stage, quality assurance is given maximum importance and
considered in all aspects
In monitoring and controlling phase:
Controlling quality: quality is controlled by reassessment after execution if the customer or client is not
satisfied.

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 6. Project Resource Management.
The project resource management involves managing human resource, material,
equipment, knowledge and time. Recourse plays a very important role during the
execution of the project. There are 6 Project resource management processes in
three phases of project management.
In the Planning phase:
Planning resource management: Based on the project scope, planning of
resources are done with cost input, quality and schedule management.
Estimating activity resources: According to the availability of the resources and
the project activities, the resource activity is estimated.
In the execution phase:
Acquiring resources: Based on the deployment of skills to achieve specific goals,
resources are acquired.
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6. Project Resource Management (Contd).

Developing the team: The team is developed based on their knowledge, skill
and ability to achieve the specified goal. Experience and hierarchy is
considered while developing the team for the project.
Managing team: The team, is managed according to plan management and
the team developed. This ensures the specified goal is achieved on time.
In monitoring and controlling phase:
Controlling resources: After the execution stage, the resources are
controlled if the deliverables are not delivered on time.

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 7. Project Communications Management.
The project communications management ensures that the right message is sent, received and
understood by the right people. Communication is one of the most critical factors affecting the
success of the project. According to PMI, most projects failed due to communication. The three
processes are involved in project communication management in planning, executing and monitoring
phase.
Planning communications management: The audience, objective, message and medium of
communications are planned according to project activities and resources assigned.
Managing communications: Once the communication plan is approved, the communications are
managed by analysis of data received, distribution of data, storage of the reports and disposal of old
messages.
Monitoring communications: The communications are monitored by confirming the messages,
confirming the messages are received by the correct stakeholders, confirming messages were
understood.
Excellent communication skills is required to handle conflict management.

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 8. Project Risk Management.
Project risk management involves identifying the risks, analyze the risk and control the risk. The risk
management is done to reduce the impact of risk on project pace. The risk identified can be uncertain and have
a huge impact on the resource, processes, technology, and schedule. The 7 processes of risk management lies in
planning, executing and monitoring phase.

In the planning phase:

Plan risk management: Based on a risk assessment matrix, the document is prepared including foreseen risks,
estimated impacts of risk on the project
Perform qualitative risk: Based on their probability of occurring and impact of risk, the risks are prioritized for
further analysis.
Perform quantitative risk: The effect of identified risk is numerically analyzed on all the project objectives.
Plan risk responses: The actions are planned to reduce the risk by addressing the risk according to priority, cost,
and time.
In the execution stage:

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 8. Project Risk Management (Contd).
Implement risk responses: Based on risk responses plan, the actions are taken
to mitigate the risk.
In the monitoring stage:
Monitoring risks: Risks are monitored according to the impact of risk
responses.

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 9. Project Procurement Management.
The project procurement management involves obtaining goods, services and supplies.
Procurement includes all the materials required to complete the project. 3 procurement
management processes are involved in planning, executing and monitoring phase of project
management.
In the planning phase:
Planning Procurement Management: the process of documenting the material required, specifying
the approach, identifying potential dealers, identifying good service required for the project within
the allocated budget and assured quality.
In the execution phase:
Conducting procurements: Based on plan procurement management, procurements are done
according to the requirement for deliverables of the project.
In monitoring and controlling phase:
Controlling procurements: The procurements are checked for quality control and also checked if the
procurement met all the requirement.

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 10. Project Stakeholder Management.
The project stakeholder management is the process of identifying suitable stakeholder
for the project and meet the expectation of the selected stakeholder. The success or
failure of the project depends on the key stakeholders.
Four project stakeholder processes are involved in initiating, planning, executing, and
monitoring and controlling the phase of project management.
In the Initiating phase:
Identifying key stakeholders: Based on performance, experience and skills, the key
stakeholders are identified to manage the assigned part of the project.
In the planning phase:
Planning stakeholder engagement: the roles and responsibilities of the key stakeholder
are planned. The amount of engagement in each part of the work is assigned to
stakeholders .

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 Stakeholder Engagement Plan.

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PMP 49 Process Groups

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 END

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