Project Management Trends and Teamwork

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Questions and Answers

What is a key objective of the course described?

Learning generic business strategies

Mastering financial accounting principles

Developing advanced programming skills

Understanding the basics of project management (correct)

Which project management trends are introduced in the course?

Six Sigma and PMP

Agile and Hybrid (correct)

Waterfall and Spiral

Agile and Lean

What type of advice is provided in the course?

Financial investment strategies

Hints and tips based on experience (correct)

Technical programming tips

Management theories for startups

What is emphasized in the course regarding teamwork?

Collaboration in a project context Signup and view all the answers

What materials are included in the course content?

Slide presentations and practical exercises Signup and view all the answers

What is the primary purpose of identifying a business need before starting a project?

To clarify the reason for the project and avoid vagueness Signup and view all the answers

Which of the following is NOT typically involved in identifying business needs?

Vendors Signup and view all the answers

Why is a business need considered rarely as a clear description?

It often mixes technical solutions with business objectives Signup and view all the answers

What could happen if the 'why?' of a business need is not clarified?

The project solution may be incorrect or limited Signup and view all the answers

Which statement best reflects the concept of a business need?

The need for diversification in products is a business need Signup and view all the answers

What is the primary goal of stakeholder engagement?

To avoid conflicts and ensure project success Signup and view all the answers

Which stakeholder category indicates a strong awareness and proactive involvement in the project?

Supportive Signup and view all the answers

What is a challenge commonly faced when managing a global workforce?

Cultural differences complicating engagement Signup and view all the answers

Which engagement level describes stakeholders who are aware of potential impacts but still resistant to change?

Resistant Signup and view all the answers

How should stakeholders be classified when they are informed about the project but have no supportive stance?

Neutral Signup and view all the answers

What method is advised for refining a stakeholder engagement plan?

Ongoing assessment of stakeholder feedback and involvement Signup and view all the answers

What could be a result of stakeholders being distracted due to multiple projects?

Higher likelihood of misunderstandings and disengagement Signup and view all the answers

In the VUCA world, what is the fundamental characteristic impacting stakeholder engagement?

Change as a constant factor Signup and view all the answers

What happens to the uncertainty in a project as more research and development is completed?

Uncertainty decreases Signup and view all the answers

Which of the following is NOT one of the key inputs in the estimation process?

Analytical tools Signup and view all the answers

At what point does uncertainty reach 0% in a project?

When all residual risk has been terminated or transferred Signup and view all the answers

What does the 'Manage Estimates' stage specifically focus on?

Ongoing maintenance and management of estimates Signup and view all the answers

Which statement accurately reflects the nature of estimation in projects?

Estimation is a process involving continuous improvement Signup and view all the answers

What is the primary goal in the 'Improve Estimating Process' stage?

To analyze actual outcomes and learn from them Signup and view all the answers

What does the phrase ‘estimation is a failed art form’ imply about traditional views on estimation?

Estimation is often viewed as unreliable and ineffective Signup and view all the answers

Which benefit is expected from improving the estimation process within an organization?

Enhanced decision-making through better predictions Signup and view all the answers

What is the primary purpose of validating the scope in project management?

To formalize acceptance of the complete scope. Signup and view all the answers

Which of the following describes a key output of the scope validation process?

A fixed project scope baseline. Signup and view all the answers

What should be done during the scope validation process to avoid additional scope creep?

Clearly define acceptance criteria for each phase. Signup and view all the answers

During which part of the project management process is it most beneficial to conduct intermediate scope validation sessions?

As soon as a considerable part of the project is ready. Signup and view all the answers

Which technique is NOT typically used during scope validation?

Cost estimation techniques. Signup and view all the answers

What is the significance of a stage/gate model in scope validation?

It ensures the next phase begins based on the previous phase's results. Signup and view all the answers

What is a critical reason to address scope issues early in the validation process?

To avoid delaying the project timeline. Signup and view all the answers

Which of the following is a component included in the work breakdown structure (WBS)?

Main deliverables and activities. Signup and view all the answers

What is the primary purpose of the Delphi Technique?

To build consensus and estimate quantities Signup and view all the answers

What is one significant benefit of using the Delphi Technique?

It reduces bias in group decision-making Signup and view all the answers

During which round of the Delphi process do participants receive a summarized list of ratings and minority opinions?

Round 3 Signup and view all the answers

How many iterations are typically sufficient to reach consensus in the Delphi process?

3 or 4 iterations Signup and view all the answers

What type of questions are posed in Round 1 of the Delphi process?

Open-ended questions Signup and view all the answers

What theory underpins the anonymous group approach in the Delphi Technique?

Reliability of Group Opinions Signup and view all the answers

Why might informal one-on-one conversations introduce bias in estimate generation?

They are less open and can intimidate individuals. Signup and view all the answers

What is the main focus of subsequent rounds during the Delphi process?

Revising judgments and achieving consensus Signup and view all the answers

Study Notes

Project Management - Overview

Presented by Dries Vandevyvere (Proj3ctS BV) at KU Leuven
Year 2024

Introduction - Speaker's Background

Engineer / IT / Project & program Management / Business Mentor
Consulting experience in Product, Project, Program, and IT management
Companies worked for: Accenture, Itineris, Ablynx, Ambits, Proj3ctS, Galapagos, ECS
Specialized in Chemicals, Utilities, Natural resources, Bio-Pharma, Supply Chain
Passionate about traveling and outdoor activities with wife and 2 daughters

Course Content - Learning Objectives

Understand what a project is and its importance for engineers
Gain insight into fundamental project management principles and methodologies
Learn about agile and hybrid project management
Develop practical analysis and problem-solving skills in project contexts
Enhance teamwork and collaboration in project settings
Utilize various methodologies employed in project management

Course Content - Course Materials

Includes lectures and related materials
Background resources such as articles, blog posts, and references
Practical exercises and quizzes
Lexicon (Glossary of terms)

Course Content - Course Scope

Part 1: Introduction, stakeholders, change, and scope management
What is a project, how project management works, its importance
Stakeholder management, change management, communication, & team motivation
Scope of the project: defining and managing it
Part 2: Estimating, Scheduling & Resources
Reliable project estimates
Project scheduling done right, and optimizing resource scheduling
Part 3: Project Risks, Progress & Agile
Project risk management, tracking project progress, earned-value management
Project management in the agile world, and hybrid project management

Introduction - Exam

Closed book
2 types of questions
Open-ended and multiple-choice questions
Focus on core concepts' understanding, real-life applications, and connections between PM areas
Questions and Answers in Dutch
Lexicon for reference

Introduction - Agenda

Introduction
What is a project?
How does project management work?
Why does project management matter?
Stakeholder management
Change management and communication
Team motivation
Scope management: scope definition and management
Wrap-up and Q&A

What is a Project?

A temporary endeavor aiming to produce a unique product, service, or result
Has a defined start and end (usually time-constrained)
Often constrained by funding, staffing, and specific goals
Aims at achieving beneficial change or added value

History of Project Management

Ancient civilizations (Pyramids, Great Wall) demonstrated early project management principles
Evolution from "Cold Control" (Waterfall) to "VUCA" (Volatility, Uncertainty, Complexity, Ambiguity)
Various stages reflecting evolving management frameworks (Agile, Scrum, etc.) and methods

Project Management Methods

Various project management methods available (e.g., Waterfall, Agile, Hybrid) each with distinct approaches, tools, and characteristics

Project Management Process

Project Preparation, Execution, and Closure
Business Idea -> Requirements documented in Project Charter
Final deliverable during Preparation Phase = Project Plan
Project Plan includes: project objectives, scope statement, deliverables, stakeholder analysis, budget, timeline, resources, and risks • Deliverables are delivered based on milestones
Knowledge transfer and lessons learned occur during Project Closure

The Triple Constraint (Iron Triangle)

Scope, Time, Cost, and Quality
Trade-offs required in project management

What is Project Management?

The application of processes, methods, tools, skills, knowledge, and experience to reach project objectives effectively

What Project Managers Do

Organizing chaos, setting goals, controlling, communicating, utilizing tools, and planning
Managing cost & resources
Managing risk
Leading & motivating teams effectively
Conducting lesson learned meetings

Project Manager Soft Skills

Leadership, Motivation, Teamwork, Integrity, Attention to Detail, Problem Solving, Delegation, Change Management, and Organization.

The Project Management Process - Three Phases

Project Preparation: Define project charter; business requirements
Project Execution: Execute project plan; deliver according to milestones
Project Closure: Deliver project deliverables; document lessons learned

Budget Management During the Project

Project Charter: High-level cost estimates
Project Plan: Detailed work package level estimations
Cost & Time Control: tracking planned vs actual costs & time
Lessons Learned: analysis of cost/time performance
Change Mgmt.: handling changes & adjustments

Standish Group - CHAOS Report

Study on software project success and factors affecting it
Commonalities in successful and unsuccessful projects
Key factors affecting project success/failure.

Top Factors Found in Failed Projects

Incomplete requirements
Lack of user involvement
Lack of resources
Unrealistic expectations
Lack of executive support
Changing requirements & specs
Lack of planning
Product is no longer needed
Lack of IT management
Technical illiteracy

Top Factors in Successful Projects

User involvement
Executive management support
Clear statement of requirements
Proper planning
Realistic expectations

Project Life Cycle

Overview of stages of a project, from start to organize, carry out work, to close
Graph showing how project costs and complexity/changes might decrease over time

Classic Project Management - Definitions /Planning

Work breakdown structure (WBS): a hierarchical decomposition of project deliverables for clearer organization & management

Classic Project Management - Control

Focus on scope, quality, people, risks, cost, and time

Project Management Processes (PMBOK)

Initiating, planning, executing, monitoring and controlling, closing

Knowledge Areas & Performance Domains (PMBOK)

List of areas within PMBOK for specific details

PM Process Groups & Knowledge Areas (PMBOK 6)

Table outlining different components within project management processes

12 Project Management Principles (PMBOK 7)

Stewardship
Team
Stakeholders
Value
Holistic Thinking
Leadership
Tailoring
Quality
Complexity
Risk
Adaptability & Resilience
Change Management

Agile Methodology - Origins

Manifesto for Agile Software Development (2001) outlined fundamental agile values

Agile: 4 Values & 12 Principles

Individuals and interactions over processes and tools
Working software over comprehensive documentation
Customer collaboration over contract negotiation
Responding to change over following a plan
Summary of 12 principles related to agile projects

Agile vs Waterfall (PM Triangle)

Classic vs Agile comparisons
Illustrative comparison of the different approaches, tools, and characteristics

The PM Triangle: Classic vs. Agile

Comparison between Classical and Agile methods illustrated with a triangle of Cost, Schedule, Scope

Agile: Methodologies: WSJF

Weighted Shortest Job First
Method to prioritize tasks for better allocation of resources

Project Scope Management

The process of defining, documenting, and controlling the scope of a project, including detailed deliverables

Business Need

The underlying need/motivation for embarking on a project; the "why" of the project

Requirements Documentation

How the requirements for a project are developed, documented, and analyzed during the project

Requirements Traceability Matrix

Tool used to link requirements to project deliverables

Work Breakdown Structure (WBS)

A hierarchical decomposition of the project's work into smaller tasks and subtasks

WBS Dictionary

Detailed information associated with each item in the WBS

WBS: Examples (Software development/engineering)

Illustrations of how a WBS can be used in different types of projects

Project Schedule with Work Packages

Illustration of how a project schedule is organized using a WBS.

Project Scope Management Overview

Collection of Data, Define Scope, Validating Scope, and Controlling Scope phases

Validating Scope

Process of formally accepting the scope, ensuring alignment and consistency.
Method to discuss and consolidate scope, utilizing group decision-making techniques

Scope Management

Overall process of defining project scope.

Control The Scope: Scope Change Management

Process of responding to changes during the project.

Control the Scope - Gold-plating & Scope Creep

Internal belief a project could be enhanced with extra features without adjusting for additional time or budget

Control the Scope: Hints & Tips

Emphasizing a disciplined approach for change requests

Control the Scope: Completion of Deliverables

Different ways the completion of deliverables are defined, depending on the management approach (e.g., detailed criteria or checklists).

Control the Scope: Acceptance Criteria

Criteria to accept project final output or deliverables

Earned Value Management (EVM)

A management tool to track progress of a project based on Scope, Schedule, and Cost

EVM: Variation Analysis

Calculation to determine progress against the baseline using metrics like Cost Variance (CV) and Cost Performance Index (CPI)

EVM: Additional Indicators

Tools/techniques to further evaluate project progress using the cost/schedule baseline

Project Risk Management - Overview

Identifying, analyzing, planning for risk mitigation
Includes assessing likelihood and impact

Risk Breakdown Structure (RBS)

Hierarchical framework for organizing and categorizing risks

Risk & Human Behavior Considerations

Risk-seeking vs. Risk-averse behaviors in project management culture and decision making
Individual and group behavior affect project risk management outcomes

Risk Management Processes

Identify, analyze, plan to mitigate, and monitor risks

Analyze Risks: Tools & Techniques

Tools and techniques involved in risk analysis (e.g., probability & impact matrix, risk breakdown structure, Pareto diagrams)

Probability & Impact Matrix:

Tools including charts and tables

Risk Severity (Score)

Using impact and probability to assess risk.

Plan & Mitigate Risks: Responses or Strategies

How to respond to possible project risks: for threats and opportunities

Plan & Mitigate Risks: Response Examples

Specific examples of strategies that can be employed to manage/mitigate different kinds of risks.

Plan & Mitigate Risks: Responses

Plan of attack for managing risk by defining actions related to identifying, avoiding, transferring, mitigating risk

Project Management Information Systems (PMIS)

How PMIS software (software solutions) help in resource allocation and monitoring.

Where to allocate resources? (WSJF)

Prioritizing tasks/jobs/features to best utilize resources based on their value, time, risk or other criteria.

Resource Allocation Best Practices & Pitfalls

Overview discussing the practicalities and potential difficulties of resource allocation in the project.

The bigger picture: you are not alone

Issues related to enterprise wide resource allocation: visibility, integration, communication, and control.
Common causes for resource allocation challenges (e.g., lack of formal process, inadequate communication).
Tips/advice on leadership resolve in resource allocation

Long-Term vs Short-Term

Understanding the importance of long-term planning in resource allocation as opposed to reactive short-term solutions

Problem Solving

Method to address problems.

Hard Deadlines: Time Constraint vs Resources

Issues of timing constraints, impacting resource allocation.

Resource Attributes

Attributes of resources for planning(e.g., capability, quality, working hours)
Soft skills.

Over-assigning Human Resources

Potential pitfalls, including over-allocation of resources.

Brooks's Law

Adding more resources to a late project = less time and increased expenses
Understanding the limit of divisibility of resources

Resources are scarce - Use them well!

Techniques of planning and using resources with consideration for their scarce nature

Scheduling - Introduction/Definitions

Basic definitions for scheduling (e.g., project, activities, milestones, deadlines).

Scheduling - Define Approach/Strategies for Scheduling

Methods for defining approach to the scheduling plan
Include aspects of resource considerations and communication

Scheduling - Gathering Data

Process for understanding activities, resources, dependencies, and constraints required to schedule a project.

Scheduling - Constraints

Factors that can limit the scheduling process(e.g., deadlines, priorities, timing restrictions).

Scheduling - Sequencing Activities

Identifying and documenting the inter-relationship between activities

Scheduling - Check and Fine-tune

A process to verify the schedule against constraints, identify issues, and adjust the schedule as needed, including use of tools for analysis such as the critical path method (CPM)

Scheduling - Communicate

Process of sharing the schedule and its updates with relevant stakeholders.

Hints & Tips: Project Schedule vs Work Schedule

Distinction between how a project is planned in a project schedule vs how actual work is scheduled.

Hints & tips: Work Schedule

Tips to avoid complexity in the work schedule and adapt to schedule changes.

Hints & tips: Scheduling

Guidelines and helpful tips for developing, managing, and communicating a project schedule.

Estimating Techniques - Introduction/Overview

Different varieties of estimating techniques suited to particular scenarios.

Create Estimate: Diving into the numbers

Specific points raised for effective estimation.

Diving into the numbers

Different estimation techniques for better understanding and utilization for project estimations (e.g., analogous, parametric, PERT, Delphi)

Analogous Estimating

Uses historical data to estimate a similar project parameter.

Parametric Estimating

Method for estimating where historical data and relationships are used for estimating

Program Evaluation & Review Technique (PERT)

Method utilizing optimistic, pessimistic, and most likely time estimates to create an estimate

Three-Point Estimation

Involves optimistic, pessimistic and most likely estimates for each activity

Group Decision Techniques: Delphi

Collaborative method to gain diverse expertise in determining estimates for project elements

Expert Judgment

Using expert knowledge and experience from within and external to the project team for estimating

Other Techniques (Quick Overview)

Overview of tools and techniques for estimation, calculation and risk management

Getting the numbers: Choosing the technique

Identifying the most efficient technique for the situation given

Exercise: Fill in the Questions sheet

Instructions to apply estimating techniques to a case study

Jump back to the process: Manage

How to manage project estimates.
How to identify issues or changes to the project

Jump back to the process: See part 3- Tracking Progress

Using methods like earned value management for tracking

Don't forget the loop: Improve

How to incorporate lessons learned into future project estimates

The Little Secrets

Key things to remember (contingency/reserve, assumptions, accuracy) for effective estimates

Reserve and Contingency

Importance of contingency

Contingency and Accuracy

How contingency/reserve is determined

Avoid Making Numbers Fit the Budget

Avoiding adjustments/estimations that don't reflect reality for the sake of fitting established parameters

Bottom-up/ Top-down Estimation

Different approaches for estimation

Common Sense

Practical insights for improving estimations

Why Humans Love "Lying" about Numbers

Identifying cognitive bias and its effect on estimation

Measure Probabilistically Over Guessing Badly

Importance of recognizing and accepting uncertainty

Don't forget the Risks

Critical reminder to factor in risk management in estimations

Estimating is a Team Sport

The importance of team expertise and knowledge for success

Resource Allocation - Inputs

Overview of the factors that should be considered when determining input resources

Resource Allocation - Process

What happens during resource allocation

Introduction - Allocation / Resources

The components of resources that form a part of the project

Introduction - Optimize

Optimizing resources and allocating them in a way to get optimal results for a project

Basics - PMBOK Knowledge Areas

Overview of Knowledge areas and process groups

Activity Duration & Resource Allocation

Important aspects related to calculating activity duration and resource allocation

Durations & Resources - Factors to Consider

Different parameters that need consideration for calculation of work duration and resource allocation (e.g., diminishing returns, resource availability, technology advances).

Cost & Resources

Two types of costs related to projects: direct and indirect costs

Resource Leveling - Preparation / Process

Overview of resource leveling techniques, including how to plan ahead

Resource Leveling & Smoothing: Example/Exercise

Examples and exercises on resource leveling and smoothing calculations

Resource Allocation - Baseline

How to establish a baseline of resources that can be used for project evaluation

Schedule Compression (Crashing & Fast Tracking)

Methods that allow for increasing project speed or reducing project duration at an additional cost.

Crashing & cost - Exercise

Examples of how to apply elements of crashing calculations

Project Management Information System (PMIS)

Project management tools that can help assess resource utilization