University of Toronto Course 1860 Module 1 Project Management Overview PDF

~ ~ UNIVERSITY OF TORONTO ~ SCHOOL o, CONTINUING STUDIES Course 1860 - Foundations of Project Management Module 1: Project Management Overview ~ UNIVERSITY OF T ORONTO ~ SC HOOL o, CON TINUING STUDI...

~ ~ UNIVERSITY OF TORONTO ~ SCHOOL o, CONTINUING STUDIES Course 1860 - Foundations of Project Management Module 1: Project Management Overview ~ UNIVERSITY OF T ORONTO ~ SC HOOL o, CON TINUING STUDIE~ Module 1 - Section 2 What is Project Management? Be Inspired UNIVERSITY OF TORONTO SCHOOLOl'"CONTINUING sruo,~ Soll'ce: 1969-2019 PMI 50, Fifty Years of the Pr~ Management Institute, PMI, 2019 27 Q What is a Proiect? A project is "a temporary endeavor undertaken to create a unique product, service, or result" (PMBOK® Guide) - Projects end when their objectives have been reached or the project has been terminated - Operations are ongoing work done to sustain the business Projects create unique products, services or results - Projects are progressively elaborated - Projects can be large or small and take a short or long time to complete Definite End UNIVERSITY OF TORONTO SOUn:e:A GUidetotheProjectManagementBodyafKnorwfedge(PMEJOK.9Gulde)-5e¥enthE.dition. ProjectManagementtnstlMe, Inc.. 2021 SCHOOL 0,- CONTINUING SRIDIE! Copyright and au ~hlS resel'Yed Malerial rrom 1111$ puOIICatlon has been reproduced with Ille pem\lsslon Of PMI. GloSSary Page245 28  Examples of Proiects Developing a prototype of new product or service Environmental remediation of a contaminated site Designing a new energy-efficient vehicle Building an office building Running a campaign for political office Constructing a new software system Creating a marketing brochure Redesigning screening procedures in the emergency department of a hospital Implementing a new quality improvement processes 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' ~ Project Attributes IC-2.1 A project has a unique purpose A project is temporary A project drives change and enables value creation A project is developed using progressive elaboration or in an iterative fashion A project requires resources , often from various areas - People, equipment, facilities, material A project should have a primary customer A project should have a sponsor A project involves uncertainty 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' ~ The Triple Constraint IC-1.3 Every project is constrained in different ways A project manager must consider and juggle these constraints The " Triple Constraints" are commonly described as Scope, Schedule, and Cost Project Manager in action! 0 i, ~~.~';;~!, ~JJT~~.Ig~~oi~ 5  ~ Project Constraints IC-1.4 Additional competing constraints include Quality, Resources and Risks Schedule Changing another one of these will impact the others Resources Scope 0.._ UN I VERSI TY OF TO RONTO ~ SC I-IOOL o t 11:-. l" INU ING STUPIL' Risk: positive or negative uncertainties that may impact the project quality: how good does the quality need to be on the project does it have to be perfect resources: staff or materials required to execute the project Assumptions "A factor in the planning process that is considered to be true, real, or certain, without proof or demonstration" (PMBOK® Guide) Required to move forward on the project Must be documented in the ~~ :_....;;...;...;........_.,._......;;:._......,.iilli,& Assumption Log, verified, and regularly checked UNIVERSITY OF TORONTO SOUn:e:A GUidetotheProjectManagementBodyafKnJ&! 18 Level 1 project: at the highest level is the project itself which is founded on all the levels below it every project needs to address all these concerns if it is to have a sturdy base to build upon Level 2: culture - understanding of project effect on people and how people affect the project; strategy - understanding how the product of the project supports the organization's strategy; structure - understanding the organization structure and reporting relationships; Governance understanding the policies, procedures, regulations and other elements of the organization's governance Level 3: economic / business - understanding of economic, demographic, educational, ethical, ethnic, religious, and other as pertaining to people directly impacted by the project; Political - understanding of applicable International Concepts such as laws, customs, political climate; environmental understanding of the geography, ecology, and other environmental aspects as they pertain to the project; Natural - understanding the natural environment in which the project operates Level 4: International - understanding the impact of international factors on the delivery of the project such as time zones, holidays, travel requirements, cultural aspects, and other logistics; local - understanding the impact of local factors in the delivery of the project, such as labor and regulations; National - understanding the impact of national factors such as regulations, holidays, economic; Global - understanding the impact of global agreements and regulations  Proiects and Strategy An organization's strategic plans have larger and longer- term objectives They focus on the organization's mission, vision and goals for the next 3-5 years Organizations review projects to determine which ones will provide the most value They may use structured processes to evaluate a project's value and its alignment to their strategic plans 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' 19  Organizational Strategic Pyramid Belief Vi n Why are we doing this? ission How do we do it? Who? Whatdowe Strategy I Objectives { need to do? Results Actions/ Projects & Key Do it! Performance Indicators (KPls) How do we know? VNIVHSITY OF TORONTO SCHOOL o, CONTINUING STVt>JE! 20 ~ Program and Portfolio Management IC-2.3 To help manage projects, they are organized into programs and portfolios: Portfolio: projects, programs and subsidiary portfolios and operations managed as a group to achieve strategic objectives Program: a group of related projects, subsidiary programs and programs activities managed in a coordinated manner to obtain benefits 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' 21 1]1 Portfolio A collection of projects and programs that are grouped together to facilitate effective management to meet strategic business objectives Investing in projects that are aligned to strategic objectives Focuses on doing the "right" programs and projects Prioritizes team and physical resource allocation Projects or programs in the portfolio may not necessarily be interdependent or directly related Examples: - Provide excellence in member support - Go-to organization for project management knowledge 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' 22 ~i ~ Program Related projects managed in a coordinated way to obtain benefits and control not available from managing them individually Focuses on interdependencies to determine optimal approach May include elements or related work outside of the scope of the projects in the program Examples: - PM Expo - Academic outreach - Corporate outreach 9 UN I VERSI TY OF TO RONTO ~ SC I-I OO L o t 11:-. l" INU ING STUPI L' 23 8! Portfolio and Program Example Project Management Association for Project Managers (PMA-PM) - Strategy: PMA-PM will be the go-to organization for project managers to obtain project management knowledge - iimnool lid - ,,,,, iliii 11~ 111=1 -- Fii+iii::i -- -16 Organizational Proiect Management Projects Programs Portfolios Scope Defined objectives Larger scope, more Changes with strategic sig nificanl ben€.llts objectives Change Expect change. Expect change from Continuously monitor Implement, monitor, and inside and outside. broader internal and control Prepare to manage external environment Planning Progressively elaborate Develop overall program Create, maintain processes detailed plans plan, create high level and communication relative prans to the portfolio Management Project team Program staff and project Portfolio staff, program managers managers and project staff Success Project on scope, time, Satisfaction on needs, Investment, performance budget, quality and to oonefits of program and benefit realization of the customer satisfaction portfolio Monitoring Monitor work on the Monitor program Monitor strategic changes, project components to ensure performance results and risk overall goals and benefits to the portfolio Adapted from Pert I, FiQtWe 1-2. A Guide to the Projecl. UsflBf}Bmsrt Body o/ Knomedr,9 (PMBOl(9Guid&)- Sixth Edition, VNIV6RSITY OF TORONTO Project Management lnsli!Lle. InJ&! 38 ~i ~ Team Canvas - Al (2) Goals {20 words): Our goal is to successfully plan, develop, and execute the virtual conference, ensuring a seamless experience for attendees while achieving high engagement and satisfaction. Roles & Skills {3 roles): 1. Project Manager: Leadership, project planning, and coordination. 2. Web Developer: Front-end and back-end development, website design. 3. Marketing Specialist: Marketing strategy, campaign execution, and promotion. Values {2 values): 1. Collaboration: Foster a collaborative environment where team members work together effectively to achieve project goals. 2. Innovation: Encourage innovative solutions and approaches to create a cutting-edge virtual conference experience. Rules & Activities (3 rules): 1. Regular Team Meetings: Conduct weekly status meetings to ensure communication and alignment among team members. 2. Feedback Loop: Establish a feedback loop to gather input from stakeholders and team members for continuous improvement. 3. Deadline Adherence: Adhere to project timelines and milestones to ensure the project stays on track and meets its objectives. Purpose {20 words): Our purpose is to deliver a highly interactive and engaging virtual conference that connects and educates participants while exceeding their expectations. 4! UN I VERS I TY OF TO RONTO ~ SCI-IOOL 01 t 11:-. l"I NUI NG STUPIL ' 39 Q Proiect Team - Questions IC-3.5 IC-3.6 1. _is a set of principles that guide our decision making based on personal values of what is "right" and "wrong. " a. Values b. Morality c. Religion d. Ethics 2. A RACI chart is a type of __. b. project organizational chart c. resource histogram d. responsibility assignment matrix e. project dashboard Answers available via Interactive Content on Quercus 61