Project Management Fundamentals

• Program: A set of related measures designed to perform a specific task.
• Program: A series of coded instructions or software operating computers or machines.
• Program: A temporary endeavor to create a unique product, service, or result.

Project Attributes

• Projects have a value proposition and a finite duration, with a temporary lifecycle.
• Projects need resources from various sources (physical, informational, human, technological, financial).
• Projects have a unique purpose and are temporary.
• Projects drive change and enable value creation, developed via progressive elaboration.
• Projects should have a primary customer/sponsor.

Project Constraints

• Scope, Schedule/Time, Cost, and Quality.
• Risk and Resources.
• Triple Constraint: Meeting scope, time, and cost goals.

Project Management

• Project Management: Applying knowledge, skills, tools, and techniques to project activities to meet project requirements.

Process Groups

• Initiating: Determines what project to be done.
• Planning: Determines the project scope.
• Executing: Implements project plans.
• Monitoring and Controlling: Tracks, reviews activities, and regulates project performance.
• Closing: Finalizes activities to close the project.

Knowledge Areas

• Each knowledge area is prefixed and suffixed with "Project ___ Management".
• Knowledge areas: Integration, Scope, Schedule, Cost, Quality, Resource, Communication, Risk, Procurement, Stakeholder.

Tools and Techniques

• Gantt Chart

Project Portfolio Management

• Portfolio: Projects, programs, subsidiary portfolios, and operations managed as a group for strategic objectives.
• Involves selection, prioritization, and control.
• Distinction between project/program and portfolio management.
• Tactical is action-based and focused on execution.
• Strategic is vision-focused on long-term goals.

Project Performance

• Causes of Poor Project Performance: Unclear objectives, poor planning, ineffective communication, lack of stakeholder engagement, risk management failures, poor team dynamics, and inadequate resources.

Key Research Findings

• 1995 Standish Group Study (The CHAOS Report): 16.2% of IT application development projects met scope, time, and cost goals.
• 2019 Study by Three Global Associations: 19% of organizations delivered successful projects consistently.

Global Associations Involved

• Klynveld Peat Marwick Goerdeler (KPMG): Audit, tax, advisory services.
• Australian Institute for Project Management (AIPM): Mechanical construction industry.
• International Project Management Association (IPMA): Federation of around 70 member countries.

Project Stakeholders

• Stakeholders are involved in or affected by project activities.
• Stakeholders: Project Sponsor, Project Manager, Project Team, Support Staff, Customers, Suppliers, Opponents.

Project Success

• Project Success: Defined by providing value, meeting scope, time, cost goals, and satisfying the customer/sponsor.

Project Management Approaches

• NPS (Net Promoter Score): Measures customer loyalty (NPS = % promoters - % detractors).

Project Management Approaches

• Predictive, Agile, and Hybrid Project Management.
• Agile (Adaptive Project Management): Scope not well-defined upfront, incremental releases, changes expected.
• Predictive (Waterfall/Traditional Project Management): Most planning upfront, single end product, changes constrained, costs/risks controlled, stakeholders involved.
• Hybrid: Mixture of predictive and agile approaches.
• A 2021 research report found 52% of projects use a hybrid approach.

Agile and Scrum

• Agile: Can adapt to change.
• Scrum: Framework to generate value through adaptive solutions for complex problems.

8 Project Performance Domains

• Each domain is suffixed with "Performance Domain"
• Stakeholder, Team, Development Approach & Life Cycle, Planning, Project Work, Delivery, Measurement, Uncertainty.

PMI Talent Triangle (PMI - Project Management Institute)

• Technical Skills: Knowledge areas, process groups, management tools/techniques.
• Strategic/Business Skills: Strategic planning, financial management, accounting, marketing.
• Leadership Skills: Providing vision and inspiration.

GDP (Gross Domestic Product)

• GDP: Total value of goods/services produced in a country over a specific time.
• Operations: Work done to sustain the business.
• Project sponsor: Provides direction and funding.
• Project managers: Works with sponsors, the team, and others involved.
• Stakeholders: Involved in or affected by project activities.
• Principles: Foundational guidelines for strategy, decisions, and problem-solving.
• Project Performance Domain: Related activities critical for effectively delivering project outcomes.
• Tailoring: Deliberate adaptation of project management approach, governance, and processes.
• Model: Thinking strategy to explain a process, framework, or phenomenon.
• Method: Achieving an outcome, output, result, or deliverable.
• Artifact: Template, document, output, or project deliverable.