Admi4085 Ex1 PDF

Project Introduction Project o Temporary endeavor o Unique product, service or result o Predetermined time o Drives changes in the organization o Business value creation Business Value o Tangibles & intangibles o If an organization does not...

Project Introduction Project o Temporary endeavor o Unique product, service or result o Predetermined time o Drives changes in the organization o Business value creation Business Value o Tangibles & intangibles o If an organization does not realize increased business value, project will not be pursued Project Attributes o Clear objective o Series of independent activities o Various resources o Specific time frame o Unique, one-time endeavor o Sponsor or customer o Degree of uncertainty Project Constraints Why we initiate projects? o Meet regulatory, legal, or social requirements o Satisfy stakeholder requests o Create, improve, or fix products o Implement or change business or technological strategies Why a project ends? o Objectives has been achieved o Objective won’t be met o Customer wants to end it Project Management – the application of knowledge, skills, tools & techniques to project activities to meet the project requirements Project Management Principles Process Groups o Initiating Process Group o Planning Process Group o Executing Process Group o Monitoring & Controlling Process Group o Closing Process Group Knowledge Areas Project Performance Domains (PMBOK 7 edition) Group of related activities that are crucial for the effective delivery of project outcomes. Correlations Organizational Project Management Project Environment o Internal o External Types of Organizational Structure o Functional o Project Oriented o Matrix Project Management Office- area responsible for standardizing all the PM processes, facilitates sharing of resources, methodologies, tools, and techniques o Have the authority to act as a primary stakeholder and key decision maker o Liaison between the organizational strategies, portfolio, programs and projects in the organization o has the authority to end projects o may be involved in the selection, management and assignment of project resources Types of PMO’S Mature PMO’S PMO Functions o Support Project Managers - Managing shared resources - Identifying and developing pm methodologies, best practices, and standards - Coaching, mentoring, training, and oversight - Monitoring compliance with pm standard, policies, procedures, and templates by project audits - Developing and managing project policies, procedures, templates, and other documentation - Coordinating communication among projects Project Manager & Project Stakeholders o Functional Manager - Focuses on providing management oversight for a functional or business unit o Operations Manager - Responsible for ensuring that business operations are efficient o Project Manager - The person assigned by the performing organization to lead the team that is responsible for achieving the project objectives Project Manager Personality Traits Emotional Intelligence Project Manager Sphere of Influence Project Manager Competencies o Technical Project Management – the skills to effectively apply the project management knowledge o Strategic and Business Management- the ability to see the high-level overview of the organization and effectively negotiate and implement decisions and actions that support strategic alignment and innovation o Leadership – the ability to guide, motivate, and direct the team Leadership Competency Skills Leadership Styles o Laissez-Faire - “let them do” - Little interference allowing the team to make their own decision o Transactional - Focus on goals and accomplishments to determine rewards - Also known as management by exception o Servant Leader - Look to service the needs of the team - Team members have a lot of autonomy o Transformational - Empowers followers to becomes leaders o Charismatic - Based on inspiration and self-confidence Types of Power o Legitimate or Positional Power - Power inherent to a position o Informational Power - Knowledge is power o Relational Power - Relies on the people you know or your network o Expert Power - The power provided by the expertise someone has in a specific area o Referent Power - Power earned by respect based on knowledge, abilities or skills o Personal or Charismatic Power - Someone you trust - Sometimes is misused Differences Between Leadership & Management Project Stakeholders Project Team Types of Teams o Dedicated - Most of the team members work full-time on the project o Part-Time - Team members work on the project and on other projects or doing their business functions o Partnership - Teams consisting of different organizations working on the same project o Virtual - When team members are not collocated and meet using communication technology - Agile teams try to avoid virtual teams Project Life Cycle Overview o A sequence of phases that the project passes from initiation to its closure o The name and quantity of phases will depend on the organization and on the type of project o Projects can be mapped to this generic life cycle o Starting the project o Organizing and preparing o Carrying out the work o Closing the project o Phases are time-bounded o The life cycle of the project is NOT the same as the PM Process Groups o The PM Process Groups are the activities that we will perform within each phase of the project o The phases may be sequential, iterative, or overlapping (fast tracking) o Within a project life cycle, there are generally one or more phases that are associated with the development of the product, service, or result. These are called development life cycle. Phase Relationship o Sequential relationship - The next phase begins when the previous phase end - Reduces uncertainty - Reduces the opportunities to cut schedule o Overlapping relationship - (Fast Tracking) the phase starts prior to the completion of the previous one - Increase risks, costs - Improve the opportunities to cut schedule o Iterative relationship - Here are the phases are repeated as needed Development Life Cycle Types o Predictive Life Cycle - “Waterfall” - Extensive planning done at the beginning of the project - Scope, time and cost set early - Change managed carefully - Formal control and extensive reporting o Adaptive Life Cycle - Adaptive life cycles are agile, iterative, or incremental - The detailed scope is defined and approved before the start of an iteration - Multiple iterations that add functions to the project - Requirements set per iteration - Changes are welcomed o Hybrid Life Cycle - Combination of a predictive and an adaptive - Those elements of the project that are well known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle Adaptive Approach Agile development is a method of building software by empowering and trusting people, acknowledging change as norm, and promoting constant feedback Agile Manifesto Principles 1. Our highest priority is to satisfy the customer through early and continuous delivery of valuable software 2. Welcoming changing requirements, even in late in development. Agile processes harness change for the customer’s competitive advantage 3. Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale 4. Businesspeople and developers must work together daily throughout the project 5. Build projects around motivated individuals, give them the environment and support they need and trust the, to get the job done 6. The most efficient and effective method of conveying information to and within a development team is face-to- face conversation 7. Working software is the primary measure of progress 8. Agile processes promote sustainable development. The sponsors, developers, and users should be able to maintain a constant pace indefinitely 9. Continuous attention to technical excellence and good design enhances aility3 10. Simplicity- the art of maximizing the amount of work not done- is essential 11. The best architectures, requirements, and designs emerge from self-organizing teams 12. At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behavior accordingly Project Selection Opportunity vs. Project o Opportunity- all the submitted requests to become projects o Projects- the selected opportunities > Evaluate needs, costs, benefits > Determine which are projects > Select project > Combine “gut” feelings and quantitative information to make decision Project Selection Steps o Develop Criteria - Strategy alignment - Increase market share or sales - Technology requirement - Improve customer satisfaction - Regulatory change - Risks o List Assumptions - Basis for each opportunity - We will obtain financing to implement the new system o Gather data - Gather data and information for each opportunity to help ensure and intelligent decision regarding project selection o Evaluate Each Opportunity - Use of an evaluation form containing the criteria used to evaluate each opportunity and select which ones will turn into projects Project Management Business Documents o Business Case - A document economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities - The sponsor (client) is generally accountable for developing and maintaining the business case  o Benefit Measurement - The documented explanation defining he processes for creating, maximizing, and sustaining the benefits provided by a project Project Selection Method The most common methods company use to select project are those that quantify the monetary benefits and expected costs that will result from a project and compare them to other potential projects to select the ones that are most feasible and desirable - Benefit cost ratio - Internal rate of return - Net present value e - Opportunity cost - Payback period  - Return on investment Project Selection Matrix Project Initiation Initiating Purpose o Obtain project approval o Identify stakeholders Project Charter Overview o The document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the Project Manager with the authority to apply organizational resources to the project activities o Is the link between the project and strategic objectives o Created by the initiator or sponsor, but in some organizations the PM is the one that creates the project charter o Needs to be signed by the sponsor, initiator and other stakeholders with the authority to commit resources to the project Project Charter  ** Brainstorming o All members of a group contribute spontaneous ideas in a non-judgmental environment o Explore as broad a range of options and ideas o The process: - The team sits around a table, with a facilitator who records ideas - Facilitator gives a 2-minute pitch - Member states an idea - Build on ideas previously mentioned - Continue until no one can produce any more ideas or the time limit is up o Two important rules must be followed: - No immediate discussion of ideas - No judgmental comments o Other participants are not allowed to make any comments at all, supportive or judgmental Conflict Resolution o Conflict is inevitable in a project environment. o Sources of conflict include scarce resources, scheduling priorities, and personal work styles. o Team ground rules, group norms, and solid project management practices, like communication planning and role definition, reduce the amount of conflict. Techniques for Resolving Conflict - Withdraw/Avoid - Force/Direct - Compromise/Reconcile - Smooth/Accommodate - Collaborate/Problem Solve Problem Solving Process - Develop a problem statement - Identify potential causes of the problem - Gather data and verify the most likely causes - Identify possible solutions - Evaluate the alternative solutions - Determine the best solution - Revise the project plan - Implement the solution - Determine whether the problem has been solved Meeting Management - Create an agenda - Distribute meeting agenda - Start and finish on time - Ensure the right people are invited - Stay on topic - Manage expectations and conflicts - Record the actions - Distribute meeting minutes Stakeholder Identification & Analysis Stakeholder Identification o The process of regularly identifying project stakeholders and analyzing and documenting relevant information regarding their interests, participation, interdependencies, influence, and potential impact on the success of the project. o The stakeholder identification process involves writing the names of the stakeholders along with their contact information, goals, expectations, and concerns in a document called the stakeholder register. o This is an iterative process Stakeholder Analysis o Once the stakeholders are identified, the analysis is carried out to add the information to the stakeholder registry. o The purpose of the analysis is to prioritize the stakeholders of greatest relevance to the project. o The analysis includes: - Determine their level of interest and power - Determine the impact they can have on the project - Determine the current commitment state and the desired state Stakeholder Engagement - Effective communication - Understand their needs and expectation - Attend to their situation - Handle conflict - Involve them in decisions and activities Stakeholder Engagement Plan Once the stakeholder analysis is done, the stakeholder engagement plan is developed to ensure proper involvement of each stakeholder. These strategies can be included in the stakeholder register. It will be used to assess whether the strategies are being effective or not