Week 1 What is Project MGMT?

• Project


  a temporary endeavor undertaken to create a unique product, service or result. Collection of linked activities carried out in organized manner with clearly defined start point and finish point, to achieve some specific results that satisfy needs of organization (sponsor/influence not always the one that funds) as derived from organization's current business plan.
• Project Characteristics 


  single definable purpose, unique, unfamiliar & risky, cuts across organizational lines, temporary, stake, process of working towards goal.
• Project management defined


  application of knowledge, skills, tools , and techniques activated to meet project requirements. Project management refers to guiding the project work to deliver the intended outcomes
• Program


  related to projects, subsidiary programs, and program activities that managed in a coordinated manner to obtain benefits not available from managing them individually.
• Portfolio


  projects, programs, subsidiary portfolios, and operations managed as group to achieve strategic objectives.
• Project management office PMO


  represents management structure that standardizes project-related governance processes and facilities sharing of resources, tools, methodologies, and techniques. Organization within the organization.
• Key considerations

  Cost, schedule, technical performance strategic fit
• Project Objective and fit

  
• Triple constraint

  scope, time, cost. Other names iron triangle, gold triangle, trilogy, triad.
• Project manager 


  person assigned by performing organization to lead project team that is responsible for achieving project objectives.

  
• Why PM?

  create new products, improve processes, advance science & technology, create new services.
• When to use PM?

  criteria: unfamiliarity, magnitude of the effort, dynamic environment, multifunctional effort, reputation of organization.
• Success looks like:


  increased revenues, reduced costs, enhanced productivity, greater market share, improved quality.
• Features of PM


  1. single person, project manager, heads project organization. Project organization reflects cross-functional, goal-oriented, temporary nature of projects. 2. Project manager person who brings together all efforts to meet project objectives.
• Features of PM 3 - 4

  3. Projects requires variety of skills and resources and is preformed by people from different functional areas or by outside contractors. 4. Project manager integrates from different areas and disciplines in project.
• Features of PM 5

  Project managers focus on delivering particular products or services on time and on budget. Functional managers might be responsible for providing projects workers and resources from their departments. Conflict may arise between projects and functional managers.
• Features of PM 6, 7

  6. Project might have two chains-of-command, one functional one project, so people working in a project report to both a project manager and functional manager. 7. Decision making, accountability, outcomes and rewards are shared between: project team, supporting functional units and outside contractors.
• Features of PM 8


  although project organization is temporary, usually the functional or subcontracting units from which it formed are permanent. When project ends, project organization is disbanded and people return to their functional or subtracting units.
• PM standards:


  Many project management standards around globe. PMI publishes one of most widely known/used.

  
• Standards etc

  
• What is PMI?

  Project management institute, founded 1969, Develops project management body of knowledge (PMBOK)

  
• PMBOK evolution

  updated 2021 Current version is 7th.

  
• PMBOK 6 v 7

  
• PMI's project management principles

  established 12 pinciples that "serve as foundational guidelines for strategy, decision making, and problem solving. Intended to guide behavior of people involved in projects. They are broadly based so many ways individuals and organization can maintain alignment with principles.
• PMI Project Management Principles


  1. BE A DILIGENT, RESPECTFUL, AND CARING STEWARD
  2. CREATE A COLLABORATIVE PROJECT TEAM ENVIRONMENT
  3. EFFECTIVELY ENGAGE WITH STAKEHOLDERS
  4. FOCUS ON VALUE
  5. RECOGNIZE, EVALUATE, AND RESPOND TO SYSTEM INTERACTIONS
  6. DEMONSTRATE LEADERSHIP BEHAVIORS
  7. TAILOR BASED ON CONTEXT
  8. BUILD QUALITY INTO PROCESSES AND DELIVERABLES
  9. NAVIGATE COMPLEXITY
  10. OPTIMIZE RISK RESPONSES
  11. EMBRACE ADAPTABILITY AND RESILIENCY
  12. ENABLE CHANGE TO ACHIEVE THE ENVISIONED FUTURE STATE
• Processes Guide

  
• NTCP/Diamond Model Technology

  Low-tech—involves only well-established technologies

  Medium-tech—uses mainly existing technologies but also limited use of some new technology or new features, for ex automotive

  High-tech—uses technologies that are mostly new to the firm but already exist and are available at project initiation; typical of many defense and computer projects; is synonymous with “high-risk”

  Super-high-tech—relies on new technologies that do not exist at project initiation. The project goal is well defined, but the solution is not; is synonymous with “very high-risk."
• NTCP /Diamond Model Complexity


  Assembly—the project involves combining a collection of elements, components, and modules into a single unit or entity that performs a single function, for example, developing a new coffee machine or creating a department to manage a single function

  System—involves a complex collection of interactive elements and subsystems that jointly perform multiple functions to meet specific operational needs

  Array—the project involves a large variety of dispersed systems (a system of systems, or “super system”) that function together to achieve a common purpose
• NTCP/Diamond Model Pace

  Regular—no urgency; time is not critical to immediate success

  Fast/competitive—complete project in adequate time to address market opportunities, create a strategic positioning, or form a new business unit, for example, launching a new drug, introducing a new product line

  Time-critical—complete project by a specific deadline; missing the deadline means project failure, for example, Y2K projects, construction of facilities for the Olympic Games, launch of space probe Blitz—a crisis project; the criterion for success is solving a problem as fast as possible
• NTCP/Diamond Model Novelty

  Derivative —the project end-item or product is an extension or improvement of an existing product or system, for example, new features to an existing car model Platform —the end-item or product is a new generation of an existing product line in a well-established market, for example, a new car model Breakthrough —the end-item or product is new to the world, for example, the first mobile telephone, the first commercially available flying car.
• NTCP/Diamond Model

  which classifies projects and their end results or products into four dimensions, each with three or four possible levels. The dimensions and levels are: Novelty, Technology, Complexity, Pace.

  
• Functional Management


  Planning, Organizing, leadership, monitoring, assessing pg21

  
• Features of Project MGMT: 


  Project management is a systems approach to management. A system is a collection of interrelated components or elements that in combination serve a purpose and work toward a goal. A project can be thought of as a system: it is a collection of elements—work tasks, resources, and stakeholders (individuals, teams, organizations)—aimed at achieving a goal. The focus of the systems approach is to optimize the overall system (not its individual elements) so as to achieve the goal. Pg22
• Criteria

  Cleland and King list five criteria for determining when to use project management methods and organization:

  Unfamiliarity, Magnitude of effort, Dynamic environment, Multifunctional effort, reputation of organization. Pg25
• MBP managing by Project


  any kind of discrete project. Undertaking or set of activities is planned and managed as if it were a project.