Project Management Cohort 1 Notes PDF

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Notes from Cohort #1...

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Cohort 1- Unit 2 & 4 Project- Very clear start and end date, producing a unique result. -Facilitates change; New product, new service, or new procedures. Role projects plays in achieving strategic business initiatives: -Increasing sales, new advertising, reduce costs, new products, new store fronts. Project Management- In charge of all aspects of a project, including budget, schedule and costs. Maximize the success of the project. Remove roadblocks and help project team members get things done. Reports- Any written communication about the project. Meetings- People having real time interaction regarding the project. Project Management Institute (PMI) -PMBOK- Project Management Body of Knowledge Association for Project Management (APM) - APM Body of Knowledge International Project Management Association (IPMA) AXELOS Ltd -PRINCE2 Functional- Clear lines of Authority. Work is easily prioritized by identified departmental authority. Utilizing resources across functions can be difficult. Project is not managed holistically. Projectized- Clear lines of authority. Project is managed holistically. Approach is expensive because of the duplication of personnel. SME assigned may not have the most appropriate knowledge or expertise for the project. Matrix- Central focus on the project. Issues are responded to quickly. Requires cooperation and coordination between and among functional departments and project managers. Resource balancing between projects can lead to friction. Project Management Office (PMO) -Align project investments to corporate strategy. -Monitor status and availability of all project resources. -Keep resources employed to best advantage across multiple projects. -Reduce overhead and bureaucracy and creates economies of scale. -Serve as a central repository for all project policies, procedures, and historical records. -Serve as a repository for lessons learned and for assuring best practices are carried across to all projects. -Ensure consistent policies and procedures across projects.

Defining - Idea for the project is formalized into a project proposal. - Decision on whether the project will be selected for implementation is made. Planning - When detailed planning occurs. - Scope, budget (cost), and schedule (time) are approved. Executing - Bulk of the work to complete the project outcomes occurs. - Completed when all of the project work activities that produce the promised final deliverables are ready to be delivered. Closing - Project outcomes are delivered and evaluated to determine if they are acceptable. - All the loose ends are tied up. Iterative - Repetition, overcoming road blocks. Developing Lessons Learned - Real world tips - Don’t wait until the end of the project Triple Constraint. Cost Time Scope...