Project Management

• Project


  Desire change, time limit, condition
• What is not a project

  No end date, no material stock
• Project management


  Skill, techniques, tool, and knowledge you need to obtain to reach the project objectives/requirements
• Principles of Project Management

  • Systematic
  • Time
  • Resources
  • Teamwork
• Three-dimensional approaches of Project Management

  • Outputs/quality
  • Time
  • Cost
• Project (3P)


  • Portfolio management = do the right thing
  • Program management = realization benefits
  • Project management = doing things right
• Project management frameworks/methodologies


  • PMI - project management body of knowledge
  • PRINCE - project in controlled environment
  • IPMA - IPMA competence, base line
  • ISO 21500 - guidance on project management
  • Scrum - framework
• Project life cycle phases

  • Pre project phase - opportunity study, feasibility
  • Project phase - startup, planning, realization, output
  • Post project phase - evaluation
• Opportunity Study


  Structure (vision), goal (mission), methods & tools (SWOT, PESTEL, Porters 5 forces, risk analysis, 5C)
• Feasibility Study


  Goal, structure, methods & tools (GANTT diagram)
• Factors in decision on project

  • Link to the goals and strategy of the company
  • Difficulty
  • Flexibility
  • Financial demands
  • Resource demands
  • Riskiness
• Project stakeholders


  • Project sponsor - vision, motivation, business value, customer focus
  • Steering committee - direction and support to the project team and make decisions outside of the project team's authority
  • Project manager
  • Project team
• Documents at project start

  • Business case
  • Business model canvas
  • Project brief
  • Project charter
  • Project vision statement
  • Roadmap
• SMART objectives


  Specific, Measurable, Time-defined
• Project scope and deliverables


  Size of the project, budget and cost, duration
• Team charter


  How the team will work together, meetings, decisions, documentation, defines the team mission, performance objectives, roles and objectives, expectations, rules of engagement, administrative procedures
• Work Breakdown Structure (WBS)

  Displays all the scope of the project, organizes and defines the total scope of the project, represents the work specified in the current approved project scope statement, typical formats/tools (tree, outline, mind map), work package - lowest element used to estimate resources, time, assign people, plan schedule, WBS Dictionary - details for each work package
• Project risk


  Uncertain event, negative (threat) or positive (opportunity), key tools (risk matrix, risk register)
• Risk classification


  • Based on effects (schedule, quality, cost, scope)
  • Based on resources (internal, external, technical, industry-specific)
• Risk analysis


  Quantitative, qualitative, probabilistic estimates (requires specialized tools like Monte Carlo analysis), probability and impact matrix
• Risk response strategies


  • Positive risk (escalate, exploit, share, enhance, accept)
  • Negative risk (escalate, avoid, transfer, mitigate, accept)
• Project finance


  Present Value (PV), Net Present Value (NPV), Internal Rate of Return (IRR), Return on Investment (ROI), Cost Benefit analysis
• Estimating methods


  • Parametric, Analogous, Detailed
• Types of estimates


  • Order of Magnitude - Major Deliverable
  • Budget - Sub-Deliverable
  • Definitive - Work Package
• Cost Baseline


  Approved budget to compare progress to, time-phased budget used as a basis to measure, monitor, and control overall cost performance
• Measuring project progress


  • Cost
  • Scope
  • Schedule
• Earned Value Management inputs

  • Planned Value (PV)
  • Earned Value (EV)
  • Actual Cost (AC)
• Earned Value Management outputs

  • Cost Performance Index (CPI), Cost Variance (CV)
  • Schedule Performance Index (SPI), Schedule Variance (SV)
  • Estimate to Complete (ETC)
  • Estimate at Completion (EAC)
• Responsibility Matrix - RACI

  R - Responsible, A - Accountable, C - Consulted, I - Informed
• Differences between team, group, and community

  • Team - strong sense of identity and belonging, own roles, completing individual tasks is important
  • Group - no leadership needed, led by "spirit of the community"
  • Community - who has what role is secondary, most important is "non-disruption of good relations"
• Team life stages


  • Forming - overall focus, meaning and purpose not clear
  • Storming - conflicts and polarization, communication
  • Norming - crystallization of common and individual values, criteria, abilities, behavior, standards and norms
  • Performing - highly efficient and powerful unit, can do without a manager
• Belbin's team roles


  • Coordinator, Shaper, Implementer, Plant (Innovator), Resource Investigator, Monitor Evaluator, Team Worker, Complete Finisher, Specialist
• Negotiation outcomes


  • Lost-lost
  • Win-lost
  • Win-win
• Types of negotiators


  • Tough negotiator - result: win-lost, lost-lost
  • Soft negotiator - result: lost-win
  • Principled negotiator - result: win-win
• Project implementation


  Procurement, quality assurance, organizing and leading the project team, reporting, risk management, communication with stakeholders