Professional Documents
Culture Documents
PMP - Chapter 1 - INTRODUCTION
PMP - Chapter 1 - INTRODUCTION
Course Content
1. PMP Exam Requirements • Knowledge Areas (Cont’d):
8. Schedule management
9. Cost management
10. Quality Management
CHAPTER 1
INTRODUCTION
ADVANTAGES OF USING FORMAL
PROJECT MANAGEMENT
• Lower costs
reliability
WHAT DIFFERENCE PMP MAKES IN PROJECT
MANAGEMENT
6
WHAT IS A PROJECT?
• is temporary
• involves uncertainty
FUNDAMENTAL ELEMENTS OF PROJECT
• Projects drive change the project moving an organization from one state to another state.
Project managers strive to meet the triple constraint (project scope, time, and cost goals) and also facilitate the entire
process to meet the needs and expectations of project stakeholders.
IMPORTANCE OF PROJECT MANAGEMENT
PROPER MANAGEMENT POOR MANAGEMENT
• Meet business objectives; • Missed deadlines,
• Satisfy stakeholder expectations; • Cost overruns,
• Be more predictable; • Poor quality,
• Increase chances of success; • Rework,
• Deliver the right products at the right time; • Uncontrolled expansion of the project,
• Resolve problems and issues; • Loss of reputation for the organization,
• Respond to risks in a timely manner; • Unsatisfied stakeholders, and
• Optimize the use of organizational resources; • Failure in achieving the objectives for which the
• Identify, recover, or terminate failing projects; project was undertaken
• Manage constraints (e.g., scope, quality,
schedule, costs, resources);
• Balance the influence of constraints on the
project (e.g., increased scope may increase cost
or schedule); and
• Manage change in a better manner.
PROGRAM AND PORTFOLIO
Program: group of related projects managed in a coordinated way to obtain benefits and control not available
from managing them individually (PMBOK® Guide, 6th Edition, 2018).
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 (PMBOK® Guide, 6th Edition, 2018)
Portfolio: is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve
strategic objectives (PMBOK® Guide, 6th Edition, 2018).
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 managers help their organizations make wise investment decisions by
helping to select and analyze projects from a strategic perspective.
PROGRAM AND PORTFOLIO
RELATION BETWEEN PROJECT, PROGRAM,
PORTFOLIO,& OPERATIONS
• Concerned with ongoing production of goods and/or services
OPERATIONS • Ensures that business operations counties efficiently by using the optimal
MANAGEMENT
resources to transform input to output.
PROGRAM AND PROJECT • Focus on doing programs and projects the “right” way.
MANAGEMENT
A phase gate, is held at the end of a phase. • Project elements including, but not limited to,
May be called (phase review, stage gate, kill point). A technology, engineering, business, process, or
PROJECT MONITORING
PLANNING EXECUTION CLOSING
INITITAION & CONTROL
The project scope is generally determined early in the project life cycle, but time and cost
ITERATIVE estimates are routinely modified as the project team’s understanding of the product increases
(Allows feedback for partially completed works) (Single Delivery).
The deliverable is produced through a series of iterations that successively add functionality
within a predetermined time frame. The deliverable contains the necessary and sufficient
INCREMENTAL
capability to be considered complete only after the final iteration. (Deliver a Minimum Viable
Product (MVP)) (Multiple delivery).
Adaptive life cycles are agile, iterative, or incremental. The detailed scope is defined and
ADAPTIVE approved before the start of an iteration. Adaptive life cycles are also referred to as agile or
change-driven life cycles.
• Projects on the more adaptive side of the continuum make use of two recurring patterns of project
phase:
• Sequential Iteration-Based Phases
• Continuous Overlapping Phases
ADAPTIVE PROJECT LIFE CYCLES
• Sequential Iteration-Based Phases:
• decomposed into a sequence of phases called Iterations
• Iterations are Timeboxed pre-agreed, consistent duration
• Used in projects with high degrees of complexity, uncertainty, and change
ADAPTIVE PROJECT LIFE CYCLES
• Continuous Overlapping Phases
• continuously pull tasks from a prioritized list of work (Product Backlog)
• perform all of the project management process groups continuously throughout the project life
cycle
PROJECT MANAGEMENT PROCESS
The project life cycle is managed by executing a series of project management activities known as project
management processes. Every project management process produces one or more outputs from one or
more inputs by using appropriate project management tools and techniques. The output can be a
deliverable or an outcome. Outcomes are an end result of a process. Project management processes apply
globally across industries. Processes generally fall into one of three categories:
• Processes used once or at predefined points in the project.
• Processes that are performed periodically as needed
• Processes that are performed continuously throughout the project
Those processes required to establish the scope of the project, refine the objectives,
PLANNING PROCESS
and define the course of action required to attain the objectives that the project was
GROUP
undertaken to achieve.
EXECUTING PROCESS Those processes performed to complete the work defined in the project management
GROUP plan to satisfy the project requirements.
MONITORING AND Those processes required to track, review, and regulate the progress and performance
CONTROLLING PROCESS of the project; identify any areas in which changes to the plan are required; and initiate
GROUP the corresponding changes.
TAILORING CONSIDERATIONS
In tailoring project management, the project manager should also
consider the varying levels of governance that may be required
and within which the project will operate, as well as considering
the culture of the organization.
PROJECT BUSINESS DOCUMENTS
A business case provides a justification for a project along with associated risks, situational
analysis, solution options and recommendations. Related assumptions and constraints are also
stated.
A benefits management plan on the other hand documents how and when benefits will be
delivered by the project (usually many will be delivered after the project is completed). Owners
and measures will also be documented apart from risks and assumptions.
BENEFITS MANAGEMENT PLAN
The benefits management plan describes key elements of the benefits and may include
documenting the following:
• Target benefits
• Strategic alignment
• The timeframe for realizing benefits
• Benefits owner
• Metrics
• Assumptions
• Risks
PROJECT SUCCESS MEASURES