PMBOK 7th Edition Kunji

Chapter 1:

A system for Value delivery :

Creating Value :
Projects exist to create value in form of :

- A new product or service that meets the needs of customers

- Creating positive social or environmental contributions
- Improving efficiency , productivity or responsiveness

Value delivery components

- Projects , programs and portfolios in different ways of layout
-
- System for value delivery
-

- -
 - System for value delivery + External environment + internal environment total makes a
sample syatem for value delivery

Information flow

Organizational Governance System :

Project governance – which includes authority to make changes related to the project - is aligned
with organisational governance

Functions associated with projects :

People drive functions necessary to run the project

Project environment:

Internal environment :
External environment :

Product Management Considerations :

Depending on the product life cycle there can be many different statges and all stages will need
some project or program for the same
Chapter 2 : Project Management Principles :

Principles are aligned with the values defined in the PMI code of Ethics and Professional Conduct

 Responsibility
 Respect
 Fairness
 Honesty

There are 12 principles of project management which align with these 4 values

1. Stewardship

2. Team
Factors that affect team environment are :

- Team agreements – set of behavioural parameters established by the project team

- Organizational structures –
- Processes – whether WBS or task board

3. Stakeholders

Stakehoders can hava an impact on : cist , scope, schedule, end results , quality , success etc of the
project as their
Negative stakeholders need to be dealt very carefully

4. Value

Value we get is the ultimate success factor and driver of projects , it is the worth or usefulness of
something .

Value can be relative and different for stakeholders , so we need to create a balance with main
priority on the customer objective

Business Need, Project Justification and Business strategy provides inputs to project team to plam,
meet or exceed the intended business value ,

To support value realization from projects the project team changes focus from deliverables to the
intended outcome in line with the vision or purpose of the project,

5. Systems Thinking
Projects should work in a system thinking way as the projects results can feed into another project
or program

, also can have subsystems or staged which need to integrate well for the final product

Basically it means taking a holistic view of the project

Also for incremental model it should ensure that every increment expands the outcomes of previous
versions .

6. Leadership
It is important for Pm to

7. Tailoring

No project is same, so need to tailor the approach, method, team , process etc for the same

Tailoring aims to maximise value by using the “just enough” processes, methods , templates etc to
achieve the desired outcome from the project
Tailoring is a continuous process to be done through the entire project lifecycle

8. Quality

9. Complexity

10. Risk
 11. Adaptability & Resiliency

12 . Change
New Chapter
Project Performance Domains are a set of related activities that are critical for the delibery of the
project and are done in a unison to achieve project outcomes ,

There are 8 project performance domains :

Project domains run throughout the project irrespective of the project methodology or how the
value is delivered – one go or in increments

1. Stakeholders Performance Domain

Stakeholder engagement

Implementing strategies to promote stakeholder engagement

 2. Team performance domain

Project Team management and leadership

Dieferenet styles can be there :

 Centralized Management & Leadership

 Distributed Management & Leadesrhip

Project Team Culture

 3. Development approach and Life Cycle Perfromance Domain

Delivery Cadence :

 Single delivery – here there is one final outcome at end of project

 Multiple delivery –but not having foxed schedules for the deliveries
  Periodic Deliveries – like multiple deliveries but on a fixed schedule like monthly or bi
monthly

Development Approach:

Dveleopment apprpach is the means to create and evolve the product, service or result during gtbe
project life cycle .

 Predictive approach – this is the old waterfall model this is used when product and project
requirements can be defined at the start of the project
 Hybrid approach – this is used when requirements are subject to high level of uncertainty,
there are 2 sub types –iterative and incremental

 Adaptive approach –
This approach is used when requirements are volatile and are highly likely to change during
the project.

Project Phases :
Planning Performance Domain :

Cost and cehdule variance :

Cost Variance = Earned Value – Actual Cost

Schedule Variance = Earned Value –Planned Value
CPI = EV/AC
SPI= EV/PV