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Project
A temporary endeavor undertaken to create a unique product, service, result, or process improvement
Project attributes
Unique purpose
Temporary
Requires resources
Involves uncertainty
Project management
The process that helps projects achieve their objectives, the application of knowledge, skills, tools, and techniques to meet the project requirements
Project management processes
Initiating
Planning
Executing
Monitoring and controlling
Closing
Stakeholders
People or organizations who are actively involved in the project or whose interests may affect the performance or completion of the project, positively or negatively
Construction Project Management Plan (CPMP)
The document that describes how the project will be executed, monitored, controlled, and closed. It is a day-to-day tool to help manage the project.
CPMP criteria
Bought
Approved
Realistic
Formal
(BARF)
Project life cycle
A series of phases a project passes through from start to completion. It defines:
What work will be performed in each phase
What deliverables will be produced and when
Who is involved in each phase
Phase
A set of parallel activities that are carried out to move the project forward
Provides the information required to make decisions at gate meetings
Gate (meeting)
Used to answer 3 questions so that resource commitments can be made:
Have the steps in the previous stage been completed?
Does the project make business sense based upon quantitative and qualitative criteria?
Is there a plan to enable the project to meet its objectives?
Gate decision
Go, No Go, Hold, or Recycle
Go
Authorizes the movement to the next stage
No Go
Does not authorize the movement of the project to the next stage and eliminates it from further review
Hold
Places the project on hold pending technical, marketing, or environmental changes
Recycle
Sends the team back to the previous stage for further refinement prior to re-submitting for gate approval
Project business case
A documented economic feasibility study used as a basis for authorization of further project management activities. Contains information on business needs, evaluation documentation, analysis of the situation
Project benefits management plan
The documented explaination defining the processes for creating, maximizing, and sustaining the benefits provided by a project. Contains information about target benefits, timeframe for realizing benefits, benefits owner, metrics
Project management process groups
A logical grouping of the project management processes to achieve specific project objectives
Analogous estimating (top-down)
Using the actual cost of previous, similar projects, giving by management as an expectation. Less costly and less precise
Parametric estimating
Uses statistical relationship between historical data and other variables to estimate. Higher levels of accuracy
Bottom-up estimating
The cost of individual activities or work packages rolled up to get the estimate for whole component. It is more accurate and costly
Three-point estimating
Accuracy of a single point cost estimates can be improved by considering estimation uncertainty and risk
Bill of materials (BOM)
Material quantity measurements
Bill of quantities (BOQ)
A document that itemizes measured quantities of material, equipment, and labor
Project charter
Document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities
Project charter includes
Project description
Project purpose or justification
High-level requirements
Scope and major deliverables
Duration
Summary budget
Assumptions, constraints, risks, and issues
Stakeholders
PM team, responsibility, authority
Project assumption
A factor in planning process that is considered to be true, real, or certain often without any proof or demonstration
Direct & manage project work
The process of leading and performing the work defined in the project management plan and implementing approved changes to achieve the project’s objectives
Manage project knowledge
The process of using existing knowledge and creating new knowledge to achieve the project’s objectives and contribute to organizational learning
Monitor & control project work
The process of tracking, reviewing, and regulating the progress to meet the performance objectives defined in the project management plan
Perform integrated change control
The process of reviewing all change requests; approving and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating the decisions
Process of performing integrated change control
Prevent root cause of changes
Identify the change and understand it
Evaluate the impact of the change on the other project constraints
Create options for change
Change is approved or rejected
Adjust the project management plan, project documents, and baselines
Communicating the change to all stakeholders affected by the change
Document change