Introduction to PMBOK 7th Edition PDF

# Introduction to PMBOK 7th Edition ## The Standard for Project Management - The Standard for Project Management identifies project management Principles that guide the behaviors and actions of project professionals and other stakeholders who work on or are engaged with projects. - This standard...

# Introduction to PMBOK 7th Edition ## The Standard for Project Management - The Standard for Project Management identifies project management Principles that guide the behaviors and actions of project professionals and other stakeholders who work on or are engaged with projects. - This standard applies no matter the industry, location, size or delivery approach of the project. - The standard describes the system within which projects operate, including governance, possible functions, the project environment, and considerations for the relationship between project management, and product management. ## A System for Value Delivery - Creating Value - Organizations create value for stakeholders through delivery of projects which can produce value by: - Creating a new product, service, or result that meets the needs of stakeholders - Creating postive contributions socially and environmentally - Improve productivity, effectiveness, efficiency and responsiveness - Efficiency is the time it takes to complete a project. An efficient workforce will finish tasks in the shortest amount of time possible, using the least amount of resources. Inefficient staff will do the opposite. For example, a manager will communicate more efficiently by using email rather than handwriting notes. Efficiency increases productivity and saves both time and money. - Understanding Effectiveness - Effectiveness is the level of results achieved. Those who are effective in the workplace will produce high-quality output. For example, an employee who works in sales will only be effective if leads are consistently created and followed up. If the employee is ineffective, they'll struggle to persuade customers to purchase anything. The effectiveness of a workforce has an enormous impact on the quality of a product or service. This dictates a company's reputation and customer satisfaction. - Value Delivery - There are components such as portfolios, projects, products, and operations to name a few that when used either individually or collectively help create value for an organization to meet its strategic goals and objectives. - The image shows a diagram of a system for value delivery from portfolios to operations. - The diagram shows the inputs and outputs of each stage. - Information Flow - The value delivery system is at its best when there is open and constant flow of information and feedback that is being shared by the key components within the system. - The image shows a diagram of the information flow between senior leadership, portfolios, programs and projects, and operations. ## Organizational Governance System - Organizational Governance is a structured approach to provide the needed direction and control through the use of policies and processes so that meet defined strategic and operational goals. - Enforce legal, regulatory standards and compliance requirements - Define operational, risk, and legal polices - Project Governance is the framework, functions, and processes that give the project the needed guidance and control to execute the activities needed by the project to achieve the organizational, strategic, and operational goals. - Guiding and overseeing the project work by evaluating changes, issues, and risks - Enforcement of polices, standards, and guidelines ## Functions Associated With Projects - Provide oversight and coordination. - Present objectives and feedback - Facilitate and support - Perform work and contribute insights - Apply expertise - Provide business direction and insight - Provide resources and direction - Maintain govenance ## Project Environment - Projects are influenced by both internal and external environments to varying degrees. - The influence can be postive, challenging, or neutral to the project objective, stakeholders, and team members. ## Internal Environment - Process assets - Governance Documentation - Data assets - Knowledge assets - Security and safety - Organizational culture, structure, and governance - Geographic distribution of facilities and resources - Infrastructure - Information technology software - Resource availability - Employee capability ## External Environment - Marketplace conditions - Social and cultural influences and issues - Regulatory environment - Commercial databases - Academic research - Industry standards - Financial considerations - Physical environment ## Product Management Considerations - Product is an artifact that is produced, is quantifiable, and can be either an end item itself or a component item. - Product management involves the integration of people, data, processes, and business systems to create, maintain, and develop a product or service throughout its lifecycle. - The image shows a diagram of a sample product lifecycle, which includes the phases introduction, growth, maturity, and decline/retirement. # Project Management Principles ## Introduction - There are 12 principles of project management which are in full alignment and complementary with the PMI Code of Ethics and Professional Conduct. - These principles of project management were identified and developed through the engagement of project practitioners globally by the Project Management Institute. - the application of the principles of project management will be influenced by the context of the organization, project, deliverables, stakeholders and other factors. ## Principles of Project Management 1. Be a diligent, respectful, and caring steward. 2. Create a collaborative project team environment. 3. Effectively engage with stakeholders. 4. Focus on value. 5. Recognize, evaluate and respond to system interactions. 6. Demonstrate leadership behaviors. 7. Tailor based on context. 8. Build quality into processes and deliverables. 9. Navigate complexity. 10. Optimize risk response. 11. Embrace adaptability and resiliency. 12. Enable change to achieve the envisioned future state. ## Be a Diligent, Respectful, and Caring Steward - Stewards act responsibly to carry out activities with integrity, care, and trustworthiness while maintaining compliance with internal and external guidelines. They demonstrate a broad commitment to financial, social, and environmental impacts of the projects they support. - Stewardship encompasses responsibilities within and external to the organization. - Stewardship includes: - Integrity - Care - Trustworthiness - Compliance - A holistic view of stewardship considers financial, social, technical, and sustainable environmental awareness. ## Create a Collaborative Project Team Environment - Project teams are made up of individuals who wield diverse skills, knowledge, and experience. Project teams that work collaboratively can accomplish a shared objective more effectively and efficiently than individuals working on their own. - Projects are delivered by project teams. Project teams work within organizational and professional cultures and guidelines, often establishing their own "local" culture. - A collaborative project team environment facilitates: - Alignment with other organizational cultures and guidelines - Individual and team learning and development - Optimal contributions to deliver desired outcomes - Team agreements. - Create a set of behavior norms by the project team to foster team commitment. - Organizational structures. - These structures can be based on roles, functions, or authority between the project and the organization. - Processes. - Defined to enable the completion of working assignments. - Clarity on roles and responsibilities. ## Effectively Engage with Stakeholders - Engage stakeholders proactively and to the degree needed to contribute to project success and customer satisfaction. - Stakeholders influence projects, performance, and outcomes. - Project teams serve other stakeholders by engaging with them. - Stakeholder engagement proactively advances value delivery. - The identification, analysis, prioritization, and engagement of stakeholders happen from start to end of the project to ensure success. - Engagement of stakeholders involves awareness of others and their perspectives, building and maintaining relationships which relies on interpersonal skills. - The purpose of engagement of stakeholders helps project detect, collect, and evaluate information, data, and opinions. - Strong stakeholder engagement throughout the project increases positive impacts, performance, and outcomes for the project. ## Focus on Value - Continually evaluate and adjust project alignment to business objectives and intended benefits and value. - Value is the ultimate indicator of project success. - Value can be realized throughout the project, at the end of the project, or after the project is complete. - Value, and the benefits that contribute to value, can be defined in quantitative and/or qualitative terms. - A focus on outcomes allows project teams to support the intended benefits that lead to value creation. - Project teams evaluate progress and adapt to maximize the expected value. - One approach to initiate a project is to detail the intended value contribution of the project outcome in a business case. - The business case should include the following elements: - Business need - Project justification - Business strategy ## Recognize, Evaluate, & Respond to System Interactions - Recognize, evaluate, and respond to the dynamic circumstances within and surrounding the project in a holistic way to positively affect project performance. - A project is a system of interdependent and interacting domains of activity. - Systems thinking entails taking a holistic view of how project parts interact with each other and with external systems. - Systems are constantly changing, requiring consistent attention to internal and external conditions. - Being responsive to system interactions allows project teams to leverage positive outcomes. - The following skills support a systems view of the project: (examples) - Empathy with the business areas - Critical thinking with a big picture focus - Challenging assumptions and mental models - Proactive management of the integration to help archive business outcomes - Recognizing, evaluating, and responding to system interactions can lead to the following postive outcomes: (examples) - Ability to adjust assumptions and plans throughout the project life cycle - Provision of ongoing information and insights that inform planning and delivery - More comprehensive and informed identification of risks ## Demonstrate Leadership Behaviors - Demonstrate and adapt leadership behaviors to support individual and team needs. - Effective leadership promotes project success and contributes to positive project outcomes. - Any project team member can demonstrate leadership behaviors. - Leadership is different than authority. - Effective leaders adapt their style to the situation. - Effective leaders recognize differences in motivation among project team members. - Leaders demonstrate desired behavior in areas of honesty, integrity, and ethical conduct. - Building Effective Leadership - Focusing a project team around agreed goals - Seeking resources and support for the project - Overcoming obstacles to project progress - Adapting communication style and messaging so that they are relevant to the audience - Appreciating and rewarding postive behaviors and contributions - Employing effective conversation and active listening - Building a cohesive project team that take responsibility ## Tailor Based on Context - Design the project development approach based on the context of the project, its objectives, stakeholders, governance, and the environment using "just enough" process to achieve the desired outcome while maximizing value, managing cost, and enhancing speed. - Each project is unique. - Project success is based on adapting to the unique context of the project to determine the most appropriate methods of producing the desired outcomes. - Tailoring the approach is iterative, and therefore is a continuous process throughout the project. - Tailoring - Organization Benefits - Deeper commitment from project team members. - Being more efficient with the use of project resources. - Postive Outcomes of Tailoring - Increased team efficiency, innovation and productivity. - Continuous improvement of the organization's practices, methods and methodolgy. - Increased flexibility for the organization long-term. ## Build Quality into Processes and Deliverables - Maintain a focus on quality that produces deliverables that meet project objectives and align to the needs, uses, and acceptance requirements set forth by relevant stakeholders. - Project quality entails satisfying stakeholders' expectations and fulfilling project and product requirements. - Quality focuses on meeting acceptance criteria for deliverables. - Project quality entails ensuring project processes are appropriate and as effective as possible. - Dimensions of Quality - Performance - Conformity - Reliability - Resilience - Satisfaction - Uniformity - Efficiency - Sustainability ## Navigate Complexity - Continually evaluate and navigate project complexity so that approaches and plans enable the project team to successfully navigate the project life cycle. - Complexity is the result of human behavior, system interactions, uncertainty, and ambiguity. - Complexity can emerge at any point during the project. - Complexity can be introduced by events or conditions that affect value, scope, communications, stakeholders, risk, and technological innovation. - Project teams can stay vigilant in identifying elements of complexity and use a variety of methods to reduce the amount or impact of complexity. - Common Sources of Complexity - Human behavior - System behavior - Uncertainty and ambiguity - Technological innovation ## Optimize Risk Responses - Continually evaluate exposure to risk, both opportunities and threats, to maximize positive impacts and minimize negative impacts to the project and its outcomes. - Individual and overall risks can impact projects. - Risks can be positive (opportunities) or negative (threats). - Risks are addressed continually throughout the project. - An organization's risk attitude, appetite, and threshold influence how risk is addressed. - Risk responses should be: - Appropriate for the significance of the risk - Cost effective - Realistic within the project context - Agreed to by relevant stakeholders - Owned by a responsible person ## Embrace Adaptability and Resiliency - Build adaptability and resiliency into the organization's and project team's approaches to help the project accommodate change, recover from setbacks, and advance the work of the project. - Adaptability is the ability to respond to changing conditions. - Resiliency is the ability to absorb impacts and to recover quickly from a setback or failure. - A focus on outcomes rather than outputs facilitates adaptability. - Capabilities That Support Adaptability & Resilience - Tight feedback loops to adapt as needed - Continuous improvement through inspection and adaptation of project work. - Transparent planning that engages both internal and external stakeholders. - Leverage new ways of thinking and working. - Act on learnings from past similar projects. ## Enable Change to Achieve the Envisioned Future State - Prepare those impacted for the adoption and sustainment of new and different behaviors and processes required for the transition from the current state to the intended future state created by the project outcomes. - A structured approach to change helps individuals, groups, and the organization transition from the current state to a future desired state. - Change can originate from internal influences or external sources. - Enabling change can be challenging as not all stakeholders embrace change. - Attempting too much change in a short time can lead to change fatigue and/or resistance. - Stakeholder engagement and motivational approaches assist in change adoption.