Module 9: Project Management Foundations

Processes

Something that is done over and over again; repeatable.

Projects

Something that is done one single time; unique.

What is a Project?

A unique output with a desired outcome, limited budget, and a deadline.

Project Management - Key Steps

1. Defining the project

2. Establishing project priorities

3. Creating a work breakdown structure

4. Tracking project progress.

Project Management: Define the Project

Clarity of objective
Eliminate ambiguities
Avoid arguments later

Project Management: Establish Project Priorities

Cost, time, performance, and scope are balanced to meet project goals.

Project Management: Work Breakdown Structure

Develop an AON diagram
Break work items into smallest units

Estimate needs of people, time, and cost
Helps teams systematically organize tasks, allocate resources, and monitor progress

Project Management: Track Project Progress (utilizes the AON diagram)

Monitor task completion, assess resource allocation, and adjust plans as necessary to ensure project stays on schedule and within budget.

Objectives

Measurable goals or desired outcomes related to budget, time, and performance.

Deliverables

Descriptions of services or products to be delivered, such as presentations, reports, or physical items.

Milestone

A specific event in a project that denotes important decision points or phases.

Scope Creep

The gradual expansion of a project's objectives beyond its original parameters, leading to potential project delays and increased costs.

Project Management Software

Tools that facilitate planning, scheduling, and resource allocation for effective project monitoring.

AON (Activity On Node) Network Diagram

A project management tool that visualizes project activities and their dependencies through nodes and arrows.

Critical Path

The longest path in the AON Network Diagram that dictates the expected project completion time.

Slack

The amount of time an activity or path can be delayed without impacting the length of the critical path.

Crashing the Project

Shortening the project time by increasing the number of resources in the most cost-effective manner.