Project
- a temporary endeavor undertaken to create a
unique product, service, or result
- Project characteristics
Temporary (has a definite beginning an end)
Unique
Progressive elaboration
- Only 34% of projects are successful
Operations
- Ongoing and repetitive work
---Reasons for starting a project---
- A market demand
- An organizational need
- A customer request
- A technological advance
- A legal requirement
Program
- a group of related projects managed in a
coordinated way to obtain benefits and control
not available from managing them individually
Portfolio
- a collection of projects or programs and other
work that are grouped together to facilitate
effective management of that work to meet
strategic business objectives
Sub-project
- Projects are frequently divided into more
manageable components or subprojects
- Can be broken up on the basis of project phases,
skills, outsourcing needs etc.
Project Management
- Project management is the application of
knowledge, skills, tools and techniques to project
activities to meet project requirements
- It is all about integration
PMO (Project Management Office/ Program Office)
- an organizational unit to centralize and
coordinate the management of projects under its
domain
- Takes 1 of the 3 roles below
Supportive: Provides policies,
methodologies and templates for managing
projects, as well as training and guidance
Controlling: Provides support as well as
requires compliance
Directive: Provides project managers to
manage projects
MBO (Management by Objectives)
- A management philosophy that says an
organization should be managed by objectives
- Involves 3 steps
Establish unambiguous and realistic
objectives
Periodically evaluate if objectives are being
met
Implement corrective action
- Works only if management supports it
---Competing Project Constraints---
- These are the things that every Project Manager
has to juggle around as part of the Project
Management activities
- Competing Project Constraints are:
Schedule
Budget
Scope
Risk
Quality
Resources
- Integrated change control involves impact
analysis of these Factors
- Management may set the priority of these factors
Schedule
- Timetable that lays out the expected dates when
activities or events in a project, program, or
portfolio are set to kick off and wrap up,
providing a useful roadmap for planning and
managing things smoothly.
- Grasped the quality criteria and potential risks,
and established estimates for activity durations,
the next task involves creating a schedule.
- Example:
- STEPS on how to mitigate project constraints
1. Id enti fy a nd An alyze Cons trai nts
2. Map out the Proj ect timel ine
3. Man a g e yo ur te am ’s avai labil ity
4. As sign tim e co nstrai nts to ta sk
5. Tr ack task time cons trai nts agains t
estimatio n
6. An alyz e tra cked tim e rep orts for
insights
7. Wor k in sm aller iter atio ns to stay
fle xible
