PMI PMP Student Workbook PDF

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e ut ib tr is D or e at lic up D ot N o PMI® Authorized PMP® Exam Prep Course D Version 3.2 Student Workbook Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Using this Student Workbook Your instructor will cover a large volume of material in the training. This Student Workbook is designed to help you follow along, give you a space to take notes, and focus on some of the e more detailed content your instructor may present. ut The thumbnail images of the slides are placemarkers. Please view the slide detail on the PDF ib copies of the slides provided. tr Please note: Like projects, your instructor’s approach will be unique to them, so while this is Student Workbook follows the course design, your instructor’s sequence or emphasis may vary. D We have included resources from PMI.org and other relevant sources to further your understanding of the topics or contexts. Good luck with your preparations. or e at lic up D ot N o D 2 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Table of Contents Using this Student Workbook..................................................................................................................... 2 INTRODUCTION................................................................................................................................ 5 Shawpe Lifestyle Centre (SLC) Case Study........................................................................................ 14 e LESSON 1 | BUSINESS ENVIRONMENT............................................................................................. 15 ut Description.............................................................................................................................................. 15 ib Topics...................................................................................................................................................... 16 Lesson 1 Notes............................................................................................................................... 17 tr TOPIC 1A | FOUNDATION................................................................................................................................................. 17 TOPIC 1B | STRATEGIC ALIGNMENT................................................................................................................................. 34 is TOPIC 1C | PROJECT BENEFITS AND VALUE...................................................................................................................... 43 TOPIC 1D | ORGANIZATIONAL CULTURE AND CHANGE MANAGEMENT......................................................................... 53 D TOPIC 1E | PROJECT GOVERNANCE.................................................................................................................................. 62 TOPIC 1F | PROJECT COMPLIANCE................................................................................................................................... 71 or Lesson 2: Start the Project.............................................................................................................. 77 Description.............................................................................................................................................. 77 e Topics...................................................................................................................................................... 78 at Lesson 2 Notes............................................................................................................................... 79 TOPIC 2A | IDENTIFY AND ENGAGE STAKEHOLDERS........................................................................................................ 79 lic TOPIC 2B | FORM THE TEAM............................................................................................................................................ 97 TOPIC 2C | BUILD SHARED UNDERSTANDING................................................................................................................ 109 TOPIC 2D | PROJECT APPROACH.................................................................................................................................... 119 up Lesson 3: Plan the Project..............................................................................................................136 Description............................................................................................................................................ 136 D Topics.................................................................................................................................................... 137 ot Lesson 3 Notes..............................................................................................................................138 TOPIC 3A | PLANNING PROJECTS.................................................................................................................................... 138 N TOPIC 3B | SCOPE........................................................................................................................................................... 143 TOPIC 3C | SCHEDULE..................................................................................................................................................... 167 TOPIC 3D | RESOURCES.................................................................................................................................................. 192 o TOPIC 3E | BUDGET......................................................................................................................................................... 205 TOPIC 3F | RISKS............................................................................................................................................................. 211 D TOPIC 3G | QUALITY....................................................................................................................................................... 223 TOPIC 3H | INTEGRATE PLANS........................................................................................................................................ 229 LESSON 4 | LEAD THE PROJECT TEAM............................................................................................235 3 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Description............................................................................................................................................ 235 Topics.................................................................................................................................................... 236 Lesson 4 Notes..............................................................................................................................237 TOPIC 4A | CRAFT YOUR LEADERSHIP SKILLS................................................................................................................. 237 TOPIC 4B | CREATE A COLLABORATIVE PROJECT TEAM ENVIRONMENT....................................................................... 247 e TOPIC 4C | EMPOWER THE TEAM.................................................................................................................................. 254 ut TOPIC 4D | SUPPORT TEAM MEMBER PERFORMANCE.................................................................................................. 265 TOPIC 4E | COMMUNICATE AND COLLABORATE WITH STAKEHOLDERS....................................................................... 275 TOPIC 4F | TRAINING, COACHING, AND MENTORING................................................................................................... 284 ib TOPIC 4G | MANAGE CONFLICT...................................................................................................................................... 291 tr Lesson 5: Support Project Team Performance................................................................................298 Description............................................................................................................................................ 298 is Topics.................................................................................................................................................... 299 D Lesson Notes.................................................................................................................................300 TOPIC 5A | IMPLEMENT ONGOING IMPROVEMENTS.................................................................................................... 300 or TOPIC 5B | SUPPORT PERFORMANCE............................................................................................................................. 306 TOPIC 5C | EVALUATE PROJECT PROGRESS.................................................................................................................... 318 TOPIC 5D | MANAGE PROJECT ISSUES AND IMPEDIMENTS........................................................................................... 342 e TOPIC 5E | MANAGE PROJECT CHANGES....................................................................................................................... 348 at Lesson 6: Closing the Project/Phase...............................................................................................357 Description............................................................................................................................................ 357 lic Topics.................................................................................................................................................... 358 Lesson Notes.................................................................................................................................359 up TOPIC 6A | PROJECT PHASE/CLOSURE............................................................................................................................ 359 TOPIC 6B | BENEFITS REALIZATION................................................................................................................................ 366 TOPIC 6C | KNOWLEDGE TRANSFER............................................................................................................................... 372 D ot N o D 4 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  INTRODUCTION e ut ib tr is D or e at lic Welcome up Welcome to the course! You’ll learn a little more about the Project Management Institute and the PMP® in this short introduction. D This course enables you to further your project ot management skills, apply a formalized and standards-based approach to project N management and prepare for the Project Management Institute (PMI®) Project o Management Professional (PMP®) certification D exam. 5 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Your Instructor Meet your instructor! _________________________________________________________ e ut _________________________________________________________ ib _________________________________________________________ tr _________________________________________________________ is _________________________________________________________ D or Participant Introductions e _________________________________________________________ at _________________________________________________________ lic _________________________________________________________ up _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ _________________________________________________________ o D _________________________________________________________ 6 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  You, Getting Certified This course is for individuals who: Have on-the-job project management experience, regardless of whether their formal e job role is project manager ut Are not certified project management professionals; and ib Might or might not have received formal project management training. tr Your interactivity with this workbook will is To ensure success in this course, you should have vary, depending on the PDF reader you experience with basic project management concepts are using. Blank areas are fillable fields, D and the requirements to apply to take the PMP and you will find several tables in the certification exam. workbook that you can fill in with notes. Also use the pen or highlighter feature on this document. or This course fulfills the requirement of 35 hours of project management education/training. e at Four-year degree 36 months leading projects lic 35 hours of project management education/training up or CAPM® certification OR A high school diploma or an associate degree D (or global equivalent) 60 months leading projects ot 35 hours of project management education/training or CAPM® certification N o D 7 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  The Project Economy 2022 Jobs Report video (2m 33s) The “Project Economy” video e Video (1m: 21s) ut ib _________________________________________________________ tr If your instructor does not also show the “Project Economy” video, you can view it at _________________________________________________________ is your leisure. _________________________________________________________ D Both videos are accessible in the Logical _________________________________________________________ Operations CHOICE dashboard, in case these links are inoperable. or _________________________________________________________ e _________________________________________________________ at To further explore the PDU requirements, you can access the _________________________________________________________ lic Spotlight on Earning PDUs presentation _________________________________________________________ from the Spotlight tile on the CHOICE up Course screen. D ot N o D 8 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  The PMP® Certification Exam The PMP® exam includes content that spans the value delivery spectrum, including predictive, adaptive and hybrid approaches. It focuses on three e performance domains in project management: ut People | Power Skills – 42% ib Process | Ways of Working – 50% Business Environment | Business Acumen – 8% tr PMP® Certification web page is _________________________________________________________ D _________________________________________________________ or _________________________________________________________ _________________________________________________________ e at Learning Topics lic Exam topics and the topics in this course are based up on the exam content outline (ECO) document. _________________________________________________________ D _________________________________________________________ ot PMP Exam reference list, _________________________________________________________ including ECO N _________________________________________________________ o D 9 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  The PMP® Certification Exam Format 180 questions 230 minutes to complete the exam Two optional 10-minute breaks for computer- e based (online-proctored) tests, including ut center-based tests; paper-based exams have no breaks ib Questions are multiple-choice, multiple response, matching, hotspot and fill-in-the- tr PMP® Certification web page blank is _________________________________________________________ D _________________________________________________________ or _________________________________________________________ e _________________________________________________________ at _________________________________________________________ lic _________________________________________________________ up _________________________________________________________ D _________________________________________________________ ot N o D 10 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Contents Lesson 1: Business Environment Learn foundational project management, organizational and business concepts integral to your e role. ut Lesson 2: Start the Project ib We’ll discuss what you need to think about right at the start of a project, in the pre-planning stage – tr This slide depicts the content of the stakeholders, the team, and how to build shared course. Over six lessons, we’ll get you understanding and decide how best to approach the is ready for the PMP® certification exam. project. D Lesson 3: Plan the Project Here we go through the steps you’ll take to plan scope, or schedule, budget, resources, risks, and quality. e Lesson 4: Lead the Team at In this lesson, we focus on your leadership skills. lic Lesson 5: Support Project Team Performance How do you get the best performance from a project up team? Here are the tools, techniques, and further leadership skills to help you do that. D Lesson 6: Close the Project/Phase Finally, we discuss how and when to close a phase or ot project and the very important topic of benefits realization. N o D 11 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  About This Course We’ve included a glossary of terms that are important for understanding the PMI® approach to e project management and which also addresses commonly known global project management and ut related business concepts and methods. ib Some key terms appear on the training Glossary definitions have been sourced from PMI tr slides—the definition appears as a click- Standards and appropriate external sources; some out on the left. However, if you missed it have been tailored by our subject matter experts. is during class, don’t worry! All the key terms in this course are in the glossary. D You will see the following icons throughout the slides and this workbook. You’ll find these icons throughout this Student Workbook, the Case Study — and on the training slides themselves. They or Important e label the action, tool, or characteristic at described according to development Interactive approach. lic Predictive icon Use Expert Judgment Arrows indicate driving up work with a high degree of Tools/Techniques certainty forward Question D Adaptive icon Circular trajectory of work Discussion ot or development regulated Note N by intervals o Hybrid icon A tailored combination of D predictive and adaptive approaches 12 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Project Case Study: Student Resource This course includes a self-study component that will help you visualize and review the concepts you learn from your instructor. e We follow Shawpe Industries, a medium-sized (150 ut employees) commercial real estate development company, as they undertake their most exciting ib project yet! tr You will see some of the graphics and characters is from the case study in the PowerPoint slides and D in this Student Workbook. Duration: 2 hours Read more about the case study on the next page! or This case study is self-scored and optional. e at Let’s Get to Work! lic Make yourself comfortable. up Open the student copy of the PowerPoint decks on another screen or window and D view the full-size versions alongside this document. ot N The slides are presented as thumbnails here for your visual reference and place o marking. D 13 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Shawpe Lifestyle Centre (SLC) Case Study e ut ib tr is D or e at Work alongside a project manager, stakeholders, a product owner, and a project team! lic Through this case study, you’ll learn more about project roles, leadership techniques, how teams use project management artifacts and, of course, project management practices—in a up visual and practical way! The case study simulates the scenario-based question approach of the PMP® certification exam questions. D The SLC project is imagined and aligned with the vision and values in ot the PMI Strategic Plan – Shaping the Future - Together (2021-2025), which can be downloaded from PMI.org. As a formal introduction to N the PMI community, we invite you to peruse it. o D 14 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  LESSON 1 | BUSINESS ENVIRONMENT e ut ib tr is D or e at Description lic This lesson addresses the concepts and business areas that you should understand before starting a project, supporting learning related to the “Business Environment” domain in the up exam content outline (ECO) and the “Business Acumen” side of the PMI Talent Triangle. Central to this lesson is determining the purpose and expectation for the project, as well as the D parameters and expectations of the project within the business. ot Having a sharp strategic business acumen and a good foundation in modern project N management will enable you to quickly determine the purpose and expectation for a project. o While you will not be tested directly on the foundational concepts from any of the PMI Standards such as the Guide to the Project Management Body of Knowledge (PMBOK® D Guide), you should understand the concepts in that standard as well as have familiarity with the PMI lexicon and frameworks. 15 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Topics A. Foundation B. Strategic alignment C. Project benefits and value e D. Organizational culture and change management Project governance ut E. F. Project compliance ib tr For each lesson, your instructor works with a set of learning objectives. This tells you what level and type of knowledge you should have in preparation for the exam. is D or e at lic up D ot N o D 16 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Lesson 1 Notes TOPIC 1A | FOUNDATION e Topics Covered ut Foundational project management concepts Project management principles ib The Agile mindset Tailoring – hybrid approaches, processes, and practices in project management tr is Topic 1A: Foundation D This section covers the foundational concepts in project management, updated to include content from the 2021 or publication of the A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Seventh Edition. e at Project Management Professional (PMP)® certification candidates should not expect to be tested directly on lic some of these concepts from the Seventh Edition, but they should be aware that the exam content is built with up an understanding of these concepts D ot N o D 17 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Project A project: _________________________________________________________ e ut _________________________________________________________ ib _________________________________________________________ tr _________________________________________________________ is _________________________________________________________ D _________________________________________________________ or _________________________________________________________ _________________________________________________________ e at lic Project success depends on: up _________________________________________________________ _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ o _________________________________________________________ D _________________________________________________________ 18 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  The Evolution of Project Management Can you describe, in your own words, how project management has evolved? e _________________________________________________________ ut _________________________________________________________ ib _________________________________________________________ tr is _________________________________________________________ D Further optional reading: _________________________________________________________ “What is project management?” “History of PMI” or _________________________________________________________ _________________________________________________________ e at _________________________________________________________ lic up D ot N o D 19 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Project Management Life Cycles and Development Approaches Take notes on this table! e ut Description Key Roles Value Delivery Proposition ib tr is Predictive D or e at lic up Adaptive D ot N o Hybrid D 20 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Project Management Office General notes on PMOs: _________________________________________________________ e ut _________________________________________________________ ib _________________________________________________________ tr _________________________________________________________ is Types of PMOs: D Supportive or _________________________________________________________ _________________________________________________________ e at Controlling lic _________________________________________________________ up _________________________________________________________ Directive D _________________________________________________________ ot _________________________________________________________ N Agile Centers of Excellence (ACoEs) o _________________________________________________________ D _________________________________________________________ 21 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Organizational Project Management (OPM): A System for Value Delivery Identify relationships between projects, programs, and portfolios. Describe where and how projects reside, in e relation to the business’ operations and the ut internal and external environment. Explain how this system for value delivery works ib – i.e., systems interactions tr is _________________________________________________________ D _________________________________________________________ or _________________________________________________________ _________________________________________________________ e at _________________________________________________________ lic _________________________________________________________ _________________________________________________________ up _________________________________________________________ D ot N o D 22 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Projects, Programs and Portfolios Do you understand how project management lines up with program and portfolio management within an OPM framework? e ut ib Definition/Description Purpose tr Portfolio Management is D Program or e Management at lic up Project D Management ot N o D 23 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Organizational Structures Four types: e _____________________ ____________________ ut _____________________ ____________________ ib Financial based structure and governance tr affects/determines: is How organizational groups and individuals D interrelate How much authority the project manager has or What resources will be available How the project will be conducted e _________________________________________________________ at _________________________________________________________ lic _________________________________________________________ up _________________________________________________________ D ot N o D 24 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Relative Authority in Organizational Structures This slide helps you to better understand the project manager’s role in various types of organizational structures. Take notes in the table, below. e ut ib The SLC case study uses the point of view of a project tr manager to explore the role further! Functional Matrix Project-oriented is Team D member loyalty Team member or e reporting at Project lic manager role up Team D member role ot Project N manager’s control over o team D members 25 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Activity Think of your current or a recent project. Can you identify the organizational structure type and describe how it affects your project in the following ways? e ut How organizational groups and individuals interrelate ib _________________________________________________________ tr _________________________________________________________ is We suggest taking some _________________________________________________________ time to reflect on the D The project manager’s authority discussion points throughout the course, as they help toward providing a scenario-based context or _________________________________________________________ _________________________________________________________ e for learning topics. at Remember that the PMP® _________________________________________________________ certification exam Resource availability lic questions are scenario based! _________________________________________________________ up _________________________________________________________ D _________________________________________________________ How the project is conducted ot _________________________________________________________ N _________________________________________________________ o _________________________________________________________ D _________________________________________________________ 26 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Project Management Principles Be a diligent, respectful and caring steward Recognize, evaluate and respond to system e interactions ut Navigate complexity Create a collaborative project team environment ib Demonstrate leadership behaviors tr Optimize risk responses is Effectively engage with stakeholders The principles are identified by letter on the Tailor based on context D slide for your instructor’s Embrace adaptability and resiliency use in referencing them later. However, the principles are not in any or Focus on value Build quality into processes and deliverables Enable change to achieve the envisioned future e order of importance. at state Further reading: The lic Standard for Project _________________________________________________________ Management, pp. 21-60. up (Inside the PMBOK® Guide _________________________________________________________ – Seventh Edition) _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ o _________________________________________________________ D _________________________________________________________ 27 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  From Principles to Performance Domains The 8 project performance domains are: Stakeholders Team e Development approach and life cycle ut Planning Project work ib Further reading in the Delivery Measurement tr PMBOK® Guide – Seventh Uncertainty Edition, pp. 7-129. is A project performance domain is a group of related D activities that are critical for the effective delivery of project outcomes. or Collectively, the performance domains represent a project e management system of interactive, interrelated, and interdependent management capabilities that work in at unison to achieve desired project outcomes. lic As the performance domains interact and react to each other, change occurs. up _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ o _________________________________________________________ D _________________________________________________________ 28 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Agile What is agile? Describe it as best you can and then take note of the definition in the glossary. e _________________________________________________________ ut _________________________________________________________ ib _________________________________________________________ tr is _________________________________________________________ D _________________________________________________________ or The Agile Manifesto for Software Development e What are the four values from the Agile Manifesto? at _________________________________________________________ lic _________________________________________________________ Reference and copyright: up _________________________________________________________ https://agilemanifesto.org _________________________________________________________ D How do these values guide agile practice? ot _________________________________________________________ N _________________________________________________________ o D 29 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Principles Behind the Agile Manifesto: 1-6 1. Our highest priority is to satisfy the customer through early and continuous delivery of valuable e software. 2. Welcome changing requirements, even late in ut development. Agile processes harness change for ib the customer’s competitive advantage. 3. Deliver working software frequently, from a couple tr of weeks to a couple of months, with a preference to the shorter timescale. is 4. Businesspeople and developers must work together D daily throughout the project. 5. Build projects around motivated individuals. Give or them the environment and support they need and trust them to get the job done. 6. The most efficient and effective method of e conveying information to and within a development at team is face-to-face conversation. lic _________________________________________________________ up _________________________________________________________ _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ o D 30 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Principles Behind the Agile Manifesto: 7-12 7. Working software is the primary measure of progress. e 8. Agile processes promote sustainable ut development. The sponsors, developers, and users should be able to maintain a ib constant pace indefinitely. 9. Continuous attention to technical excellence tr and good design enhances agility. is 10. Simplicity – the art of maximizing the amount of work not done – is essential. D 11. The best architectures, requirements, and or designs emerge from self-organizing teams. 12. At regular intervals, the team reflects on how to become more effective, then tunes and e adjusts its behavior accordingly. at lic ________________________________________________________ up ________________________________________________________ D ________________________________________________________ ot ________________________________________________________ N ________________________________________________________ o D 31 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Agile: The “Far Side” of Adaptive Approaches What’s the difference between “doing agile and being agile?” _________________________________________________________ e _________________________________________________________ ut In general, agile means: ib _________________________________________________________ tr _________________________________________________________ is D Explain how agile software development principles are applied to other kinds of development projects, vis-à-vis the agile mindset: or _________________________________________________________ e at _________________________________________________________ lic Tailor Projects to Contexts up Define ‘tailoring’ and describe how it is done: _________________________________________________________ D _________________________________________________________ ot _________________________________________________________ N _________________________________________________________ o D _________________________________________________________ 32 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Tailor Hybrid Approaches, Practices, and Methods Notes on what we mean by ‘hybrid’ in project management: _________________________________________________________ e ut _________________________________________________________ ib _________________________________________________________ tr _________________________________________________________ is D Relationship between hybrid and tailoring: or ____________________________________________________________ ____________________________________________________________ e at End of Topic 1A lic _________________________________________________________ up _________________________________________________________ _________________________________________________________ D _________________________________________________________ ot N o D 33 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  TOPIC 1B | STRATEGIC ALIGNMENT Topics Covered Define strategic alignment and business acumen e Follow guidelines for effective business decision-making ut Explore organizational influences on projects Explain how projects align with broader organizational strategy and global trends ib tr Topic 1B: Strategic Alignment is Professionals at all levels need to be able to D cultivate effective decision-making skills and understand how their projects align with the big or picture of broader organizational strategy and global trends. e And because today’s projects demand a broad set at of skills and capabilities, PMI will continue to focus on giving you the tools and insights you need to lic develop new skills and tackle your next project challenge. up D ot N o D 34 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  PMI Talent Triangle® Take notes on: Way of Working Business Acumen e Power Skills ut __________________________________________________ ib __________________________________________________ tr Further information “PMI Talent Triangle®” is ________________________________ __________________ D __________________________________________________ or __________________________________________________ __________________________________________________ e at __________________________________________________ lic __________________________________________________ up D ot N o D 35 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Strategic Alignment and Business Management Skills Reflect on these questions and skill sets for project professionals. e ut Do you: ib Know your organization’s strategic plan? tr Identify any gaps in your Understand how project goals matter to an organization's long-term vision and mission? is knowledge and plans for how to fill them: See a high-level overview of the organization? D Have a working knowledge of business or functions? Have pertinent product and industry expertise? e at Can you: lic Explain the essential business aspects of a project? up Work with SMEs and a sponsor to develop an appropriate project delivery strategy? D Implement strategy to maximize the business ot value of a project? N o D 36 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Strategic Management Elements and Frameworks Vision: Where the business wants to go (aspirational) e Mission: Its pre-established objective or ut purpose Objectives: Defined areas of pursuance ib Goals: Milestones, resources Strategies: Resources used tr to accomplish organizational purpose Programs/projects is Operation procedures (SOPs) D or e at lic up D ot _____________________________________________________________________________________ N _____________________________________________________________________________________ o _____________________________________________________________________________________ D _____________________________________________________________________________________ 37 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Organizational Influences Define and describe Enterprise Environmental Factors (EEFs) e __________________________________________________ ut __________________________________________________ ib __________________________________________________ tr is Define and describe Organizational Process Assets (OPAs) D __________________________________________________ or __________________________________________________ e __________________________________________________ at lic up D ot N o D 38 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Get to Know the External Business Environment PESTLE is an acronym for: e ut __________________________________________________ ib __________________________________________________ Use frameworks or prompts to tr understand external factors that is can introduce risk, uncertainty or TECOP is an acronym for: provide opportunities and affect D the value and desired outcomes __________________________________________________ of a project. or __________________________________________________ e VUCA is an acronym for: at __________________________________________________ lic __________________________________________________ What are other tools used to understand the up external business environment? Include any your instructor mentions or that you know. D __________________________________________________ ot __________________________________________________ N __________________________________________________ o __________________________________________________ D 39 Version 3.2 © 2023 Project Management Institute Licensed For Use Only By: Britney Osbern 10180097 Jun 11 2024 12:07PM  Internal Business Environment Factors Organizational changes can dramatically impact __________________________________________________ e ut __________________________________________________ ib Which project roles need to be familiar with business plans, reo