Professional Practice & Standards - Week 3

Professional Practice & Standards - Week 3

• Topics covered in this week's lecture include various project management methodologies, process groups, project integration management, project scope management, project schedule management, project cost management, project quality management, project resource management, project communications management, project risk management, project procurement management, project stakeholder management, and project environmental management.

Methodologies

• Project Management Body of Knowledge (PMBOK) Guide, 6th Edition, is a critical resource for project management practitioners
• Different methodologies include:
  • PMBOK Guide
  • Waterfall
  • Critical Path Method (CPM)
  • Agile
  • Extreme Programming (XP)
  • Lean
  • Six Sigma
  • PRINCE2

Process Groups

• Project management follows a cyclical process involving sequential process groups:
  • Initiating
  • Planning
  • Executing
  • Monitoring & Controlling
  • Closing

Project Integration Management

• Core activities include developing the project charter, creating the project management plan, managing the project work, and managing the project scope.
• Balancing of project goals, including time, quality, and cost, are central to successful project management.

Project Scope Management

• Key activities include planning scope management, collecting requirements, defining scope, creating a work breakdown structure (WBS), and validating scope and controlling scope.

Project Schedule Management

• Activities include planning schedule management, defining activities, sequencing activities, estimating activity resources, estimating activity durations, developing the project schedule, and controlling the schedule.

Project Cost Management

• Essential actions are planning cost management, estimating costs, determining the budget, and controlling costs.

Project Quality Management

• Includes planning quality management, managing quality, and controlling quality. Various tools like cause-and-effect diagrams, flowcharts, checksheets, Pareto diagrams, histograms, scatter diagrams, and control charts support the quality management process.

Project Resource Management

• Covers planning resource management, estimating activity resources, acquiring, developing, managing, and controlling resources.

Project Communications Management

• Critical activities include planning communications management, managing communications, and monitoring communications.
• Communication patterns, including those involving the number of people in a project and communication channels, become more complex as the number of people rises.

Project Risk Management

• Key activities involve planning risk management, identifying risks, performing qualitative risk analysis, performing quantitative risk analysis, planning risk responses, implementing risk responses, and monitoring risks.
• Effective risk management involves identifying, analysing, and responding to potential threats and opportunities that can impact project success.

Risk Plan and Identification

• Covers several processes, including stakeholder risk tolerance, business motivations, status meetings, risk identification approach, risk categorisation, and risk registers.

Risk Analysis

• Qualitative analysis assesses risks subjectively, based on likelihood and impact. Quantitative analysis quantitatively assesses risks to determine which risks should be prioritised.

Risk Response

• Strategies for responding to risks include avoiding, mitigating, deflecting, accepting, enhancing, sharing, and ignoring risks.

Project Procurement Management

Covers planning procurement planning, conducting procurements, and controlling procurements.

Project Stakeholder Management

• This comprises identifying stakeholders, planning stakeholder engagement, managing stakeholder engagement, and monitoring stakeholder engagement.

Stakeholder Mapping

• Understanding stakeholder influence and involvement is essential in project management and is often graphically represented through stakeholder mapping.

Project Environmental Management

• Activities include planning environmental management, identifying potential impacts (environmental impact assessments), assessing environmental values, and controlling mitigation efforts.

Progress Reports

• Deliver clear, concise project updates that communicate essential project information, typically with graphics.

Forecasting and Trend Analysis

• Techniques, such as earned value charts, help estimate project completion timelines and costs and measure project completion progress.

Communication Skills

• Effective project managers demonstrate several communication-related skills, including listening, questioning, educating, summarizing, and negotiating.