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What is a characteristic of a project?
What is a characteristic of a project?
What is one of the key factors that drives project success?
What is one of the key factors that drives project success?
What is the main goal of project management?
What is the main goal of project management?
When was the Project Management Institute (PMI) founded?
When was the Project Management Institute (PMI) founded?
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What is an essential aspect of project management?
What is an essential aspect of project management?
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What is a key characteristic of a project's outcome?
What is a key characteristic of a project's outcome?
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What is organizational project management (OPM) described as?
What is organizational project management (OPM) described as?
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What is the main purpose of OPM?
What is the main purpose of OPM?
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What is the external environment in relation to OPM?
What is the external environment in relation to OPM?
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What is the system for value delivery in OPM?
What is the system for value delivery in OPM?
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What is Portfolio A and Portfolio B in the OPM framework?
What is Portfolio A and Portfolio B in the OPM framework?
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What is the relationship between Program A.1 and Program A.2?
What is the relationship between Program A.1 and Program A.2?
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What is the relationship between Projects within Program A.1 and Projects within Program A.2?
What is the relationship between Projects within Program A.1 and Projects within Program A.2?
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What is the relationship between Operations and the other components in the OPM framework?
What is the relationship between Operations and the other components in the OPM framework?
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What is the primary influence of organizational structure and governance on project management?
What is the primary influence of organizational structure and governance on project management?
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In a project-oriented organizational structure, what is the level of authority held by the project manager?
In a project-oriented organizational structure, what is the level of authority held by the project manager?
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What is a characteristic of a functional organizational structure?
What is a characteristic of a functional organizational structure?
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In a matrix organizational structure, what is the level of control the project manager has over team members?
In a matrix organizational structure, what is the level of control the project manager has over team members?
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What is a characteristic of a composite organizational structure?
What is a characteristic of a composite organizational structure?
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In a project-oriented organizational structure, what is the role of the team member?
In a project-oriented organizational structure, what is the role of the team member?
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What is the primary difference between a functional and a matrix organizational structure?
What is the primary difference between a functional and a matrix organizational structure?
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In a matrix organizational structure, what is the challenge faced by team members?
In a matrix organizational structure, what is the challenge faced by team members?
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What is business value in a project?
What is business value in a project?
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What is benefits realization based on?
What is benefits realization based on?
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What is strategic alignment in a project?
What is strategic alignment in a project?
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What is a key aspect of project management?
What is a key aspect of project management?
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What is an organizational influence on projects?
What is an organizational influence on projects?
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What is a topic covered in project management?
What is a topic covered in project management?
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What is a benefit of project management?
What is a benefit of project management?
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What is a characteristic of business value?
What is a characteristic of business value?
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What is crucial when coaching coworkers to support business change?
What is crucial when coaching coworkers to support business change?
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Why is it essential to keep knowledge current?
Why is it essential to keep knowledge current?
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What is the purpose of an attitudinal survey?
What is the purpose of an attitudinal survey?
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What should be included in the informational campaign?
What should be included in the informational campaign?
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Why is it important to be open and transparent about the changes?
Why is it important to be open and transparent about the changes?
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What is the purpose of creating a rollout plan?
What is the purpose of creating a rollout plan?
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Why is it essential to enable an agile operating system?
Why is it essential to enable an agile operating system?
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What is the goal of defining knowledge transfer, training, and readiness activities?
What is the goal of defining knowledge transfer, training, and readiness activities?
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What is the primary purpose of a North Star statement?
What is the primary purpose of a North Star statement?
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What is the primary benefit of using internal volunteer champions for transformation efforts?
What is the primary benefit of using internal volunteer champions for transformation efforts?
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What is the primary focus of the Brightline Transformation Compass?
What is the primary focus of the Brightline Transformation Compass?
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What is the primary goal of the Inside-Out Employee Transformation approach?
What is the primary goal of the Inside-Out Employee Transformation approach?
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What is the primary characteristic of a flat, adaptable cross-functional transformation operating system?
What is the primary characteristic of a flat, adaptable cross-functional transformation operating system?
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What is the primary role of customer insights in organizational transformation?
What is the primary role of customer insights in organizational transformation?
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What is the primary benefit of using global megatrends in organizational transformation?
What is the primary benefit of using global megatrends in organizational transformation?
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What is the primary focus of the Brightline initiative?
What is the primary focus of the Brightline initiative?
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What is the primary characteristic of the transformation operating system?
What is the primary characteristic of the transformation operating system?
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What is the primary benefit of using the five building blocks of transformation?
What is the primary benefit of using the five building blocks of transformation?
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Study Notes
Project Definition and Success
- A project creates a unique product, service, or result, is time-limited, drives change, and enables value creation for a business or organization.
- Project success depends on organizational project maturity, project manager effectiveness, funding and resource availability, team member skill levels, collaboration and communication, and understanding of the core problem and related needs.
Evolution of Project Management
- The application of knowledge, skills, tools, and techniques to project activities to meet project requirements has evolved significantly since 1969.
Organizational Project Management (OPM)
- OPM is a strategy execution framework that coordinates project, program, portfolio, and operations management, enabling organizations to deliver on strategy.
- It consists of portfolios, programs, projects, and operations.
Organizational Structures and Governance
- Organizational structure and governance affect how groups and individuals interrelate, the authority of the project manager, and resource availability.
- There are three main organizational structures: functional, matrix, and project-oriented.
Relative Authority in Organizational Structures
- In functional structures, the functional manager has authority, and the project manager has little authority.
- In matrix structures, authority is shared between the functional manager and project manager.
- In project-oriented structures, the project manager has full authority.
Project Benefits and Value
- Business value is the net quantifiable benefit (tangible and/or intangible) identified from a business endeavor.
- Benefits realization is based on declared business value.
Supporting Change
- To support change,coach co-workers, enable an agile operating system, and keep knowledge current.
- Don't force changes; instead, involve and consult to secure buy-in to the reasons for change.
Planning for Change
- Plan for change by defining knowledge transfer, training, and readiness activities required to implement the change brought by the project.
- Consider creating a rollout plan, including an attitudinal survey, informational campaign, and open communication about potential effects of the changes.
Agile Manifesto
- Values individuals and interaction over process and tools
- Prioritizes working software over comprehensive documentation
- Emphasizes customer collaboration over contract negotiation
- Favors responding to change over following a plan
Agile Principles
- Highest priority is to satisfy the customer through early and continuous delivery of valuable software
- Welcome changing requirements, even late in development, to harness change for the customer's competitive advantage
- Deliver working software frequently, with a preference for shorter timescales
- Businesspeople and developers must work together daily throughout the project
- Build projects around motivated individuals and give them the environment and support they need
- Adopt a flexible, change-friendly way of thinking and behaving
Tailoring Projects to Contexts
- Adapt methods to the unique project context to determine the most appropriate ways of working
- Tailor iteratively and continuously throughout the project
Tailor Hybrid Approaches
- Apply product knowledge, delivery cadence, and awareness of available options to select the most appropriate development approach
- Tailor processes for the selected life cycle and development approach
- Tailor practices and methods to the environment and culture
Organizational Influences
- Enterprise Environmental Factors (EEFs) refer to internal and external conditions that influence an organization's processes
- EEFs include, but are not limited to, business plans, processes, policies, protocols, and knowledge
Financial Influences
- Financial factors include time value of money, present value (PV), future value (FV), net present value (NPV), internal rate of return (IRR), and return on investment (ROI)
Project Selection Using Present Value (PV) and Net Present Value (NPV)
- PV applies to projects that span several time periods when the value of money might change
- Factors to determine PV include future value, interest rate, and number of periods
- NPV is used for capital budgeting, accounts for inflation and macro-economic change, and compares the value of a currency unit today to the value of the same currency unit in the future
Organizational Transformation
- A North Star statement articulates the vision and strategic objectives
- Customer insights and global megatrends inform organizational transformation
- A flat, adaptable cross-functional transformation operating system is necessary for successful transformation
- Internal volunteer champions, not external consultants, lead transformation efforts
- The Brightline Transformation Compass and its five building blocks of transformation provide a framework for enterprise-level change management
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Description
Learn about the fundamentals of a project, including its characteristics and key factors that contribute to its success. Understand how organizational project maturity impacts project outcomes.
