Chapter 1 - Introduction to Project Management PDF

INTRODUCTION TO PROJECT MANAGEMENT Project Management Framework and Methodologies MIS 4397 AND MIS 7397 IT PROJECT MANAGEMENT PANKAJ JAGTAP Adjunct Professor AGENDA 1 Defining IT Project 2 Project Management Overview 3 Program and Portfolio Management...

INTRODUCTION TO PROJECT MANAGEMENT Project Management Framework and Methodologies MIS 4397 AND MIS 7397 IT PROJECT MANAGEMENT PANKAJ JAGTAP Adjunct Professor AGENDA 1 Defining IT Project 2 Project Management Overview 3 Program and Portfolio Management 4 Project Manager Role and Expectations 5 Project Management Profession © 2024 Pankaj Jagtap. All rights reserved. DEFINING IT PROJECT MANAGEMENT WHAT IS A PROJECT? A project is defined as “a temporary endeavor undertaken to create a unique product, service, or result.” This emphasizes that projects have a defined beginning and end and are aimed at producing something new and distinct. © 2024 Pankaj Jagtap. All rights reserved. © 2024 Pankaj Jagtap. All rights reserved. WHAT IS A PROJECT? Operations vs. Projects: Operations involve ongoing, repetitive activities that sustain the business, whereas projects are temporary and unique. This distinction is crucial for understanding project management, as the approaches and management techniques for operations differ from those for projects. Project Termination: Projects end when their specific objectives have been achieved or if they are terminated for other reasons, such as changes in strategic direction or resource constraints. This point underscores the finite nature of projects compared to the continuous nature of operations. © 2024 Pankaj Jagtap. All rights reserved. PROJECT ATTRIBUTES Project managers work with project sponsors, team, and other people involved in a project to achieve project goals requires resources, often from has a unique purpose (value) various areas is temporary should have a primary customer or sponsor The project sponsor usually provides the direction drives change and enable value and funding for the project creation involves uncertainty is developed using progressive elaboration © 2024 Pankaj Jagtap. All rights reserved. EXAMPLES OF IT PROJECTS 1 Company deploying 5 Consulting form develops a Enterprise Resource new methodology to deploy Planning (ERP) application software in reduced time globally 6 University implementing 2 Software company develops LMS system such as Canvas a new Software as a Service 7 Professor develop a (SaaS) software department website to 3 Company develops a store all research papers driverless car 4 Government organization develops a system to track child immunications © 2024 Pankaj Jagtap. All rights reserved. PROJECT CONSTRAINTS The triple constraints of project management, often referred to as the “iron triangle,” consist of time, cost, and scope. These are the three critical factors that influence the success of any project and are interrelated, meaning that a change in one constraint usually affects the others. Assumption: Quality is achieved, stakeholders are satisfied, project value is achieved, risk is managed. Scope: This defines the work that needs to be done to deliver the project successfully. Expanding the scope without adjusting the time and cost can lead to what is known as “scope creep.” Usually increase in scope leads to increase in time and cost. Time: This refers to the project schedule, including deadlines and the time allocated to complete project tasks. Managing time effectively is crucial, as delays can increase costs. Cost: This encompasses the budget of the project, including all financial resources required to complete the project. Effective cost management ensures that the project stays within budget, avoiding cost overruns which are common in IT projects. Change in cost is a result of change in scope or time. CLASS DISCUSSION: TRIPLE CONSTRAINT CASE STUDY Scenario: During the build phase, a new requirement identified by the client increases the effort to build, test, and deploy the new feature by 10%. What are the options for the client’s Project Manager to manage this unforeseen development? Group Discussion Activity:​ Objective: Explore and present potential solutions for managing increased project effort due to a new requirement © 2024 Pankaj Jagtap. All rights reserved. CASE STUDY SOLUTIONS Keep the size of the team same, increase scope results in increased time and cost. Increase the team to keep same time but increase cost Move requirement to phase 2 and complete the project on time and budget Ask the team to work overtime – keep same time and cost Agree for partial increase in scope and ask team to work overtime © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT OVERVIEW WHAT IS PROJECT MANAGEMENT? Project management is “the application of knowledge, skills, tools and techniques to project activities to meet project requirements” (PMBOK® Guide, Sixth Edition, 2017) Project managers strive to deliver the value expected by the project stakeholders while meeting the triple constraint (project scope, time, and cost goals) © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT FRAMEWORK © 2024 Pankaj Jagtap. All rights reserved. PROJECT STAKEHOLDERS Stakeholders are the people involved in or affected by project activities​ project sponsor project manager Stakeholders opponents to the project team include: project (developers, business analysts) suppliers end users © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT KNOWLEDGE AREAS Knowledge areas describe the key competencies that project managers must develop Project managers must have knowledge and skills in all 10 knowledge areas (scope, schedule, cost, quality, resource, communications, risk, procurement, stakeholder, and project integration management) PROJECT MANAGEMENT TOOLS & TECHNIQUES Project management tools and techniques assist project managers and their teams in various aspects of project management Some specific ones include​ Project charter, scope statement, and WBS (scope) ​ antt charts, network diagrams, critical G path analysis, critical chain scheduling (time)​ Cost estimates and earned value management (cost) NETWORK EXAMPLE & GANTT CHART © 2024 Pankaj Jagtap. All rights reserved. WHAT IS THE BEST WAY TO DEFINE PROJECT SUCCESS? PROJECT SUCCESS Project success can be defined in 3 ways: 1 Meeting Scope, 2 Customer/Sponsor 3 Achieving Project Time, and Cost Satisfaction: Objectives: Goals: Important for evaluating Focuses on whether the stakeholder engagement and project met its primary goals, Common evaluation method approval. Not ideal if used as such as: Generating or saving for IT projects. Often limited the sole measure. money. Providing a good as it focuses on traditional return on investment. metrics. Achieving specific measurable outcomes. © 2024 Pankaj Jagtap. All rights reserved. GROUP EXERCISE: SINGLE MOST IMPACTFUL FACTOR FOR PROJECT SUCCESS Objective: Determine the single most impactful factor for project success, assuming all other conditions are the same. Presentation: Each group prepares a short presentation (2-3 minutes) to:​ Identify their chosen factor.​ Explain why they believe this factor is the most critical for project success. © 2024 Pankaj Jagtap. All rights reserved. SUCCESS FACTORS Factor of Success Points Executive Sponsorship 15 Emotional Maturity 15 User Involvement 15 Optimization 15 Skilled Resources 10 Agile processes 7 Modest Execution 6 Project Management Expertise 5 Clear business Objectives 4 (My Favorite) Source: The Standish Group, CHAOS Manifesto 2015 (2015) © 2024 Pankaj Jagtap. All rights reserved. PROGRAM & PORTFOLIO MANAGEMENT PROGRAMS A program is “a group of related projects managed in a coordinated manner to obtain benefits and control not available from managing them individually” (PMBOK® Guide​ — Sixth Edition, 2017) A program manager provides leadership and direction for the project managers heading the projects within the program Have review meetings with all project managers Managing program is much more complex than managing single project Need strong business knowledge, leadership capability and communication skills © 2024 Pankaj Jagtap. All rights reserved. EXAMPLES OF IT PROGRAMS Infrastructure - Wireless access to Applications – Replace existing ERP remote employees globally systems with a new ERP system Project for each region and type of globally infrastructure​ Project for each region managed by Program Manager manages Project a Project Manager Managers that are responsible for ​ rogram Manager responsible for P each region/country overall ERP replacement program success and manages individual PMs © 2024 Pankaj Jagtap. All rights reserved. PROJECT PORTFOLIO MANAGEMENT Portfolio management is the centralized management of one or more portfolios, which encompass various projects, programs, and other related work. The primary goal of portfolio management is to ensure that these projects and programs align with the strategic objectives and priorities of the organization. It involves selecting, prioritizing, and controlling an organization’s projects and programs in line with its capacity to deliver them, as well as their potential benefits. Examples Product Company –​ Portfolio of new product development projects. ​ Portfolio of client implementation projects and programs ​Application Portfolio –​ Set of projects and programs to minimize cost by 10% in 24 months.​ Increase sales by enabling more client engagement © 2024 Pankaj Jagtap. All rights reserved. DIFFERENCE BETWEEN PROJECT AND PORTFOLIO MANAGEMENT © 2024 Pankaj Jagtap. All rights reserved. PROJECT PORTFOLIO APPROACH © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGER ROLE & EXPECTATIONS PROJECT MANAGER ROLE Job description can vary based on the industry and by organization but here are some basis responsibilities common to all IT Project Managers Define project objectives, scope, timelines and budget Effectively manage Plan project in details and risks​ monitor/control the project Responsibilities Communicate project Manage cost, scope, and progress updates​ schedule constraints Work closely with sponsor Build and manage high and all stakeholders​ performance team © 2024 Pankaj Jagtap. All rights reserved. GROUP EXERCISE: MOST IMPORTANT PM SKILL Identifying the most important skill for project success Objective: Identify the single most impactful project manager skill that is necessary for project success, assuming all other conditions are equal. Presentation: Each group prepares a short presentation (2-3 minutes) to:​ Identify their selected skill.​ Explain why they believe this skill is the most critical for project success.​ © 2024 Pankaj Jagtap. All rights reserved. TOP 6 SKILLS FOR AN EFFECTIVE IT PROJECT MANAGER Leadership Communication Problem-Solving Demonstrating strong leadership Excellent communication skills to Able to identify and resolve skills to guide the project team and convey project status, risks, and complex issues that arise during the stakeholders effectively. solutions to all relevant parties. project lifecycle. Organization Risk Management Stakeholder Management Efficient organization skills to stay Proactively identify, analyze, and Effectively manage and engage with on top of all the moving parts in the mitigate potential risks to the all stakeholders to ensure project project to ensure successful alignment and buy-in throughout delivery. the project. © 2024 Pankaj Jagtap. All rights reserved. PMI TALENT TRIANGLE Technical project management skills 10 Knowledge areas and 5 process groups​ Strategic and business management skills Understand business value and how project fits into overall strategic vision​​ Leadership skills People management skills​​ © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT PROFESSION HISTORY OF PROJECT MANAGEMENT Some people argue that building the Egyptian pyramids was a project, as was building the Great Wall of China or Taj Mahal Most people consider the Manhattan Project to be the first project to use “modern” project management. Three-year, $2 billion (in 1946 dollars) project had a separate project manager and a technical manager In 1950s and 60s, the military continued to refine project management techniques In 1970s, first scheduling software was developed In the 1990s, many companies began creating Project Management Office (PMO) to help them handle the increasing number and complexity of projects © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT OFFICE (PMO) A Project Management Office (PMO) is an organizational group responsible for coordinating the project management function throughout an organization Typical responsibilities include: ​. Develop and refine project management 1 2. methodology​Maintain template, tools, and standards 3. Maintain template, tools, and standards 4. Report project information for entire project​ 5. Audit projects and provide feedback​ 6. Project training to project managers​ 7. Provide career path for project managers​ PROJECT MANAGEMENT INSTITUTION 1 The Project Management Institution is an international professional society for project managers founded in 1969 2 PMI has continued to attract and retain members, reporting more than 500,000 members worldwide by late 2017 3 there are communities of practices in many areas, like information systems, financial services, and health care 4 Students can join PMI at a reduced fee and earn the Certified Associate in Project Management (CAPM) certification 5 PMI provides certification as a Project Management Professional (PMP) 6 A PMP has documented sufficient project experience, agreed to follow a code of ethics and passed the PMP exam © 2024 Pankaj Jagtap. All rights reserved. ETHICS IN PROJECT MANAGEMENT Ethics, loosely defined, is a set of principles that guide our decision making based on personal values of what is “right” and “wrong” Example – ‘We will be truthful in our communications and in our conduct’ Project managers often face ethical dilemmas In order to earn PMP® certification, applicants must agree to PMI’s Code of Ethics and Professional Conduct Several questions on the PMP® exam are related to professional responsibility, including ethics © 2024 Pankaj Jagtap. All rights reserved. PROJECT MANAGEMENT SOFTWARE There are hundreds of different products to assist in performing project management Three main categories of tools: Low-end tools: Handle single or smaller projects well Midrange tools: Handle multiple projects and users High-end tools: Also called enterprise project management software that can do portfolio management, timesheets, resource management etc. Several free or open-source tools are also available © 2024 Pankaj Jagtap. All rights reserved.