Project Management Overview PDF

PROJECT MANAGEMENT OVERVIEW MODULE 1 Module Overview Discuss the fundamentals of Project Management Understand the definition of a project Identify and explain the characteristics of a project Enumerate and discuss the phases of project management Introduce the Project Management...

PROJECT MANAGEMENT OVERVIEW MODULE 1 Module Overview Discuss the fundamentals of Project Management Understand the definition of a project Identify and explain the characteristics of a project Enumerate and discuss the phases of project management Introduce the Project Management Institute (PMI) framework 3 WHAT IS A PROJECT? 4 DEFINITION OF A PROJECT A project is a temporary endeavor undertaken to create a unique product, service, or result. Projects should not be confused with everyday work. A project is not routine, repetitive work! Ordinary daily work typically requires doing the same or similar work over and over, while a project is done only once; a new product or service exists when the project is completed. Routine, Repetitive Work Projects Taking class notes Writing a term paper Daily entering sales receipts into the accounting ledger Developing a supply-chain information system Practicing scales on the piano Writing a new piano piece 5 CHARACTERISTICS OF A PROJECT 6 CHARACTERISTICS OF A PROJECT Major characteristics of a project are as follows: Usually, the A defined life involvement of Typically, doing Specific time, An established span with a several something that cost, and objective. beginning and departments has never been performance an end. and done before. requirements. professionals. 7 PHASES OF PROJECT MANAGEMENT 8 PHASES OF PROJECT MANAGEMENT Another way of illustrating the unique nature of project work is in terms of the project life cycle. The life cycle recognizes that projects have a limited life span and that there are predictable changes in level of effort and focus over the life of the project. There are a number of different life-cycle models in project management literature. Many are unique to a specific industry or type of project. Defining Planning Executing Closing 9 PHASES OF PROJECT MANAGEMENT Defining Specifications of the project are defined; project objectives are established; teams are formed; major responsibilities are assigned. Goals Specifications Tasks Responsibilities 10 PHASES OF PROJECT MANAGEMENT Planning The level of effort increases, and plans are developed to determine what the project will entail, when it will be scheduled, whom it will benefit, what quality level should be maintained, and what the budget will be. Schedules Budgets Resources Risks Staffing 11 PHASES OF PROJECT MANAGEMENT Executing A major portion of the project work takes place—both physical and mental. The physical product is produced (a bridge, a report, a software program). Time, cost, and specification measures are used for control. Is the project on schedule, on budget, and meeting specifications? What are the forecasts of each of these measures? What revisions/changes are necessary? Status Reports Changes Quality Forecasts 12 PHASES OF PROJECT MANAGEMENT Closing Closing includes three activities: delivering the project product to the customer, redeploying project resources, and post-project review. Delivery of the project might include customer training and transferring documents. Redeployment usually involves releasing project equipment/materials to other projects and finding new assignments for team members. Post-project reviews include not only assessing performance but also capturing lessons learned. Transfer Release Train customer Evaluation Lessons learned documents resources 13 PROJECT MANAGEMENT INSTITUTE 14 PROJECT MANAGEMENT INSTITUTE The Project Management Institute (PMI) is a U.S.-based not-for-profit professional organization for project management. PMI serves more than three million professionals including over 650,000 members in 213 countries and territories around the world, with 303 chapters and 14,000 volunteers serving local members in over 180 countries. Its services include the development of standards, research, education, publication, networking-opportunities in local chapters, hosting conferences and training seminars, and providing accreditation in project management. PMI has recruited volunteers to create industry standards, such as "A Guide to the Project Management Body of Knowledge", which has been recognized by the American National Standards Institute (ANSI). In 2012 ISO adapted the project management processes from the PMBOK Guide 4th edition. 15 PROJECT MANAGEMENT INSTITUTE The chaos and uncertainty of a global pandemic didn’t deter this year’s Future 50—it inspired them to push forward on big ideas and bold initiatives to make the world a better place. Future 50 project leaders represent rising generations of changemakers dedicated to forging a better tomorrow. The individuals celebrated here are leveraging new technologies, fighting disease and taking on climate change. They’re developing more sustainable sources of food and energy; building residential and commercial spaces with lasting benefits; accelerating efficiency; and unleashing new creativity across organizations and communities. Read about them here https://www.pmi.org/future-50 This year’s Future 50 embody the inclusive, user-centric, forward-focused mindset needed in The Project Economy. 16 QUESTIONS? 17 THANK YOU! See you on our next class 18