Project Management - Lecture PDF

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(PMBOK) Project Management Body of Knowledge the Project Management Institute (PMI) publishes this project management guide. (PMO) project management office interorganizational office that manage projects and programs. project brings about a unique product, service, or result and has definite beginning and ending dates. operations work that is ongoing and repetitive. program a group of related projects that are managed together using coordinated processes and techniques. project management the application of skills, knowledge, and management tools and techniques to fulfill the project requirements. project manager leads the project team and oversees all the work required to complete the project goals to the satisfaction of the stakeholders. functional organization classic organizational structure with hierarchical reporting structures. matrix organization organizational structure where employees report to one functional manager and at least one project manager. strong matrix matrix organization type that emphasizes project work over functional duties. weak matrix matrix organization type that emphasizes functional work over project work. balanced matrix matrix organization type that shares equal emphasis between projects and functional work. project-based organization organizational structure focused on projects. collocated

team members work together at the same physical location. business case formal justification for a project. validating the project involves preparing the business case and identifying and analyzing the project stakeholders. feasibility study determines whether the project is a viable project, the probability of project success, and the viability of the product of the project. stakeholders anyone who has a vested interest in the project. project sponsor authorizes the project to begin and is someone who has the ability to assign funds and resources to the project. decision model formal method of project selection that helps managers make the best use of limited budgets and human resources; uses benefit measurement methods and constrained optimization models. benefit measurement method type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. cost-benefit analysis benefit measurement method that compares the cost to produce the product or service to the financial gain. scoring model benefit measurement methods that uses a predefined list of weighted and scored criteria against which each project is ranked. payback period length of time it takes a company to recover the initial cost of producing the product or service of the project. economic model series of financial calculations, also known as cash flow techniques, which provide data on the overall financials of the project. (DCF) discounted cash flow

compares the value of the future cash flows of the project to today's dollars. (NPV) net present value similar to discounted cash flows, but total present value of the cash flows is deducted from the initial investment. (IRR) internal rate of return discount rate when the present value of the cash inflows equals the original investment. constrained optimization models decision models using complex principles of statistics and other mathematical concepts to assess a proposed project. expert judgment decision making that relies on the knowledge of those with expertise on the requested subject matter. general management skills or soft skills skills that include leadership, communication, problem solving, negotiation, organization, and time management. identify the project, validate the project, prepare project charter three requirements to complete pre-project setup. project life cycle grouping of project phases in a sequential order from the beginning of the project to the close. deliverable or critical success factor an output or result that must be completed and approved before moving to the next phase of the project. initiating, planning, executing, monitoring and controlling, and closing five process groups that define project management. initiation formal authorization for the project to begin. initiating process group that includes all activities that lead up to the final authorization to begin a project, starting with the original project request. project charter primary output of the initiating process.

planning process group where project plans are developed that will be used throughout the project to direct, monitor, and control work results. project plan primary output of the planning process. executing process group where the work of the project is performed. monitoring and controlling process group where activities are performed to analyze the progress of the project and determine whether there are variances from the project plan. closing process group that documents the final delivery and acceptance of the project. product description or high-level requirements explains the major characteristics of a product and describes the relationship between the business need and the product. business requirements requirements that describe how the business objectives of the project will be met. functional requirements defines what the product of the project will do by focusing on how the end user will interact with the product. technical requirements or nonfunctional requirements product characteristics needed for the product to perform the functional requirements. (RFP) request for proposal document that is sent out to potential vendors requesting them to provide a proposal on a product or service. (SOW) statement of work a description of what product or service the vendor will provide and is generally included as part of a contract. project champion person who fully understands, believes in, and espouses the benefits of the project to the organization. project team members

experts who will be performing the work associated with the project. customer or client recipient of the product or service created by the project. end user person who directly uses the product produced as a result of an IT project. (COTS) commercial off-the-shelf a software application that is purchased from a reseller, vendor, or manufacturer. enterprise the complete array of business units within an organization. project charter provides formal approval for the project to begin and authorizes the project manager to apply resources, signed by project sponsor. milestones major events in a project that are used to measure progress. constraints anything that either restricts or dictates the actions of the project team. assumptions events, actions, concepts, or ideas you believe to be true. triple constraint time, budget, and quality. risks pose either opportunities or threats to the project. project charter contains problem statement, deliverables, milestones, costs, assumptions, constraints, risks, stakeholders, and project description. decomposition process of breaking project deliverables down into smaller, manageable components of work so that work packages can be planned and estimated. fast tracking

starting the next phase of the project before the prior phase is completed in order to shorten the project schedule. functional manager provides the employees performing the work of the project. project scope includes all the components that make up the product or service of the project and the results the project intends to produce. scope management plan describes how the project team will define project scope, verify the work of the project, and manage and control scope. scope statement provides a common understanding of the project by documenting the project objectives and deliverables. scope statement includes a product description, key deliverables, success and acceptance criteria, key performance indicators, exclusions, assumptions, and constraints. work breakdown structure breaks the project deliverables down into smaller components from which you can estimate task durations, assign resources, and estimate costs. project kick-off meeting premier meeting that includes sponsor, key project team members, and key stakeholders to discuss the project charter. scope creep minor changes or small additions that are made to the project outside of a formal scope change process. scope planning the process of defining the scope management plan, the scope statement, and the WBS and WBS dictionary. acceptance criteria or success criteria the process and the criteria that will be used to determine whether the deliverables are acceptable and satisfactory. (KPIs) key performance indicators helps determine whether the project is on track and progressing as planned.

exclusions from scope anything that isn't included as a deliverable or work of the project, documented to prevent misunderstandings. order of magnitude estimate high-level estimate of the time and cost of a project based on the actual cost and duration of a similar project. scope statement approval on this document should be required before any project work is undertaken. (WBS) work breakdown structure a deliverables-oriented hierarchy that defines all the work of the project. (WBS) work breakdown structure the basis for estimating activity duration, assigning resources to activities, estimating work effort, and creating a budget. work package level the lowest WBS level where resources, time, and cost estimates are determined. code of accounts numeric identifiers usually associated with the corporation's chart of accounts, which are used to track costs by category. WBS dictionary where the WBS levels and work component descriptions are documented including code of account identifiers, responsible party, estimates, criteria for acceptance, etc. activity definition taking the work packages from the WBS and breaking them down into assignable tasks. activity list a list of all activities required to complete the work of the project that also includes an identifier code and the WBS code it's associated with. activity sequencing the process of identifying dependency relationships between project activities and sequencing them in proper order. dependencies relationships between activities.

mandatory dependency dependency defined by the type of work being performed, and one activity is dependent on another activity. discretionary dependency dependency defined by process or procedure, and may include best-practice techniques. external dependency type of dependency where a relationship between a project task and a factor outside the project, such as weather conditions, drives the scheduling of that task. predecessor a task on the network diagram that occurs before another task. successor a task on the network diagram that occurs after another task. finish-to-start, start-to-start, start-to-finish, and finish-to-finish name the four types of logical relationships. finish-to-start in this logical relationship, the successor activity cannot begin until the predecessor activity has completed. start-to-finish in this logical relationship, the predecessor activity must start before the successor activity can finish. finish-to-finish in this logical relationship, the predecessor activity must finish before the successor activity finishes. start-to-start in this logical relationship, the predecessor activity depends on starting before the successive activity can start. network diagram depicts the project activities and the interrelationships among these activities. (PDM) precedence diagramming method common network diagram that uses boxes to represent the project activities and arrows to connect the boxes and show the dependencies. (ADM) arrow diagramming method

network diagram that uses arrows representing project activities, and nodes as the connecting points between the activities. (CDM) conditional diagramming method network diagram used to show activities that loop or repeat throughout the project, or show activities not in sequential order. activity duration the process of estimating the time to complete each item on the activity list. expert judgment, analogous or top-down estimating, parametric, three-point, and PERT name five of the most common methods for estimating activity duration. analogous estimating or top-down estimating estimate model based on similar activities from a previous project. expert judgment estimate model that relies on people most familiar with the work to create the estimate. parametric estimate estimate model that is a quantitatively based, multiplying the quantity of work by the rate. three-point estimate estimate model that is an average of the most likely estimate, the optimistic estimate, and the pessimistic estimate. (optimistic + pessimistic + most likely) / 3 a three-point estimate is calculated using this formula. (PERT) Program Evaluation and Review Technique activity duration estimate that is similar to a three-point estimate, but uses a weighted average or "expected value." (optimistic + pessimistic + (4 * most likely)) / 6 a PERT estimate is calculated using this formula. schedule development involves establishing a start date and a finish date for each of the project activities. (CPM) critical path method schedule development method that determines a single early and late start date, early and late finish date, and the float for each activity on the project.

(CP) critical path the longest full path through the project. float time or slack time amount of time the early start of a task may be delayed without delaying the finish date of the project. critical path activities activities with zero float are considered this. forward pass process of working from the left to the right of a network diagram in order to calculate early start and early finish dates for each activity. backward pass calculating late start and late finish dates by starting at the end of a network diagram and working back through each path until reaching the start of the network diagram. float time or slack time calculated by subtracting the early start from the late start or the early finish from the late finish for each activity. duration compression use of techniques such as fast-tracking or crashing to shorten the planned duration of a project or to resolve schedule slippage. crashing a schedule compression technique that adds resources to the project to reduce the time it takes to complete the project. fast tracking a schedule compression technique performing two tasks in parallel that were previously scheduled to start sequentially. milestone chart tracks the scheduled dates and actual completion dates for the major milestones. Gantt charts charts that typically display tasks using a horizontal bar chart format across a timeline. milestone charts or Gantt charts name the two most common ways project schedules are displayed. schedule baseline

the final approved version of the project schedule that includes start and finish dates, and will be used throughout the project to monitor progress. communications planning the process of identifying what people or groups need to receive information regarding your project, what information each group needs, and how the information will be distributed. 90 percent how much time project managers should spend communicating. sender-message-receiver model or the basic communication model how all communication exchange occurs, no matter what format it takes. network communication model shows the lines of communication that exist between any number of project participants. n (n - 1) / 2 formula for calculating lines of communication, where "n" is used to represent the number of participants. informal communications include phone calls and emails to and from team members, conversations in the hallway, and impromptu meetings. formal communications include project kickoff meetings, team status meetings, written status reports, team building sessions, or other planned sessions. project stakeholders typically includes the project sponsor, functional managers, customers, and end users. stakeholder engagement plan helps identify key messages to convey to each stakeholder during project communications. resource planning determines what resources are needed for the project, including human, equipment, and material. human resources the people who have the experience and skills needed to complete project activities. equipment resources such as servers, specialized test equipment, or additional PCs that are required for a project.

materials a catchall category of project resources that includes software, utilities, project supplies, or other consumable goods. resource requirements document contains a description of each of the resources needed, for each of the work packages on the WBS. resource pool description a listing of all the job titles within a company or department with a brief description of the job; may also list the number of people currently employed in each job title. (RAM) resource assignment matrix a resource chart that defines the WBS identifier, the resource type needed for the WBS element, and the quantity of resources needed for the task. RACI chart type of RAM that describes the resources needed for a task and their role for that task using the following descriptors: responsible, accountable, consult, or inform. human resources planning involves defining team member roles and responsibilities, establishing an appropriate structure for team reporting, acquiring the right team members, and bringing them on the project as needed for the appropriate length of time. organizational planning and staff acquisition the two components of human resources planning. organizational planning process of addressing factors that may impact how to manage a project team, defining roles and responsibilities for project team members, identifying how the project team will be organized, and documenting a staffing management plan. labor-union agreements, organizational structure, and economic conditions name three potential constraints when performing human resources planning. environmental factors these organizational planning factors include elements such as personnel policies, location and logistics of personnel, technical factors, and interpersonal factors. roles and responsibilities document document that lists each group or individual team member on the project and their responsibilities. project organization chart

chart that provides a snapshot of who is working on the project, and also shows the reporting structure. staffing management plan documents when and how human resources will be added to and released from the project team and what they will be working on while they are part of the team. staffing management plan the "blueprint" needed to manage the human resources assigned to a project. staff acquisition process where team members (or organizations) who will work on the project are chosen, possibly negotiating with functional managers. procurement planning the process of identifying the goods and services required for a project that will be purchased from outside the organization. make-or-buy analysis determines the cost effectiveness of producing goods or services in-house versus procuring them from outside the organization. indirect costs costs associated with overhead, management, and ongoing maintenance costs direct costs costs that are directly attributed to the project, such as costs needed to produce a resource. staff augmentation procuring contract workers if no internal resources are available for a time-critical project or if internal resources do not have the required skill sets. (SOW) statement of work vendors use this detailed document to determine whether they are capable of producing the deliverables and to determine their interest in bidding on project work. solicitation planning the process of identifying the requirements of the product and identifying potential sources. solicitation obtaining responses from vendors to complete the project work as documented in the SOW. bidder conference

a meeting held by the buyer with potential vendors during the procurement process to allow vendors to ask questions and get clarification on the project. request for information RFI [solicitation terminology]. request for proposal RF...