VM Salon.com: Project Management 101

Lecturer: Cheb

Welcome to the BM 101: Project Management 101 session, your gateway to the world of project management, especially for beginners or those aspiring to start a career in this domain.

Session Agenda

1. Introduction to Project Management
2. Basics and Beyond - A Deeper Dive
3. Introduction to PMP Course
4. What is a Project?
5. Origins of Projects
6. Project Constraints
7. Defining Project Success
8. Project Management Overview
9. Project, Programs, and Portfolios
10. Organizational Structures
11. Project Management Office (PMO)
12. Stakeholder Management
13. Project Management Life Cycle
14. Project Management Processes

• Initiating Process Group
• Planning Process Group
• Executing Process Group
• Monitoring and Controlling Process Group
• Closing Process Group

Key Points

1. Introduction to Project Management

• Basics and Beyond: Covers initial basics and then progresses to more detailed aspects.
• PMP Course Introduction: PMP (Project Management Professional) is the gold standard certification offered by PMI.

2. What is a Project?

• Temporary Nature: Definite start and end dates.
• Unique Output: Not routine operational work; accomplishes well-defined, unique objectives.
• Examples: Pyramids, Great Wall of China, Taj Mahal, Moon landing, and software packages.

3. Project vs. Operation

• Project: Unique, temporary tasks (e.g., setting up a mobile phone factory).
• Operation: Routine, repetitive tasks (e.g., assembling mobile phones daily).

4. Origins of Projects

Projects arise from:

• Technological changes
• Competitive forces
• Material issues
• Political changes
• Market demand
• Economic changes
• Customer requests
• Legal requirements
• Process improvements
• Strategic and business needs
• Social needs
• Environmental considerations

5. Project Constraints

• Triple Constraint Triangle (Iron Triangle): Time, Scope, Cost, and Quality.
• Interrelation: Changes in one constraint affect the others.
• Additional Constraints: Resources and risks also impact projects.

6. Defining Project Success

• Five Key Factors:
  1. Schedule: Adherence to project timeline.
  2. Cost: Adherence to budget.
  3. Quality: Meeting quality standards.
  4. Stakeholder Satisfaction: Meeting or managing stakeholder expectations.
  5. Alignment to Business Case: Meeting original business goals and benefits.

7. Project Management

• Definition: Application of knowledge, skills, tools, and techniques to meet project objectives.
• Examples: Website development, disaster relief, construction projects.
• Hierarchical Structure: Projects -> Programs -> Portfolios.

8. Organizational Structure

• Types:
  1. Functional: Resources report to functional managers.
  2. Matrix: Resources report to both project and functional managers (weak, balanced, strong).
  3. Projectized: Resources report to project managers. Projectized organizations are focused on large projects.
  4. Composite/Hybrid: Combination of functional, matrix, and projectized structures.

9. Project Management Office (PMO)

• Purpose: Defines and maintains project management standards within an organization.
• Types of PMOs:
  1. Supportive: Provides templates and documentation.
  2. Controlling: Audits projects to ensure compliance.
  3. Directive: Assigns project managers and involves active project management.

10. Stakeholder Management

• Definition: Anyone affected by the outcome of the project.
• Types: Positive and negative stakeholders.
• Key Points: Not all stakeholders will be satisfied, but managing their expectations is crucial.

11. Project Management Life Cycle

• Phases: Initiation, Planning, Execution, and Closure.
• Monitoring and Controlling: Continuous throughout all phases.
• Types:
  1. Predictive: Often called waterfall; phase-by-phase approach.
  2. Iterative and Incremental: Development in increments; early and regular delivery of artifacts.
  3. Adaptive (Agile): Iterative approach; flexible and adaptive planning.

12. Project Management Processes

• Five Process Groups: Initiating, Planning, Executing, Monitoring and Controlling, Closing.
• Ten Knowledge Areas: Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder.
• 49 Processes Across These Groups.

Initiating Process Group

• Tasks: Project assessment, identifying deliverables, stakeholder analysis, high-level risk identification, developing project charter, obtaining approval, conducting benefit analysis.

Planning Process Group

• Tasks: Reviewing project requirements, scope, cost, schedule, quality plans, resource procurement, communications, risk, stakeholder management plans, conducting kickoff meetings.

Executing Process Group

• Tasks: Acquiring/managing resources, task execution, implementing quality standards, approved changes, risk management, communication, and stakeholder engagement.

Monitoring and Controlling Process Group

• Tasks: Measuring performance, managing changes, verifying quality standards, assessing risk and issue logs, capturing lessons learned, monitoring procurement.

Closing Process Group

• Tasks: Final acceptance, transferring deliverables, obtaining closure, communicating closure, documenting project performance, collating lessons learned, archiving documents, obtaining stakeholder feedback.

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