PMP Course

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  • TIA Technical Institute of America

  • Title: Project Management Terms (©TIA Education Group)

  • Note: DO NOT SHARE.

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  • Definition: Project

  • A temporary endeavor that produces a unique product, service, or result.

  • Temporary in nature with a definite start and end.

  • Can be part of a larger program or portfolio.

  • Key Characteristics:

    • Unique

    • Temporary

    • Progressively Elaborated

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  • Project Management

  • Application of knowledge, skills, tools, and techniques to satisfy project requirements.

  • Key Activities:

    • Preparing business case for investment justification

    • Estimating resources and timelines

    • Developing and implementing management plans

    • Leading and motivating the project delivery team

    • Managing risks, issues, and changes

    • Monitoring project progress

    • Controlled project closure when appropriate

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  • Program Management

  • Group of related projects managed in a coordinated manner.

  • Focuses on project interdependencies, offering value not available when managed separately.

  • A program always consists of projects.

  • Example Structure:

    • Program

    • Project1, Project2, Project3, Project4

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  • Portfolio Management

  • Collection of projects, programs, and operations managed to achieve strategic objectives.

  • Achieves long-term strategic objectives.

  • Structure Includes:

    • Portfolios containing Projects and Programs

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  • Operations Management

  • Focuses on the ongoing production of goods and/or services.

  • Involves acquisition, utilization, and development of resources needed to deliver goods/services.

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  • Value of Projects

  • Key Questions:

    • What value will the project bring upon completion?

    • Why undertake this project?

  • Potential values include:

    • Monetary benefits, Brand Reputation, Customer Service, New/Changed Products or Services.

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  • Projects Enable Changes

  • Projects serve as vehicles for change within organizations.

  • Transition from current state to desired state.

  • Current State vs Desired State:

    • Highlight the transformation process.

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  • Phases and Deliverables

  • A phase is a collection of related activities leading to deliverables.

  • The number of phases depends on industry, project size, and complexity.

  • Deliverables:

    • Unique and verifiable products, services, or results accepted by the customer or sponsor.

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  • Project Life Cycle

  • Representation of phases a project goes through from start to finish.

  • Can be predictive (structured) or adaptive (flexible).

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  • Project Governance

  • Framework for project decision-making.

  • Consists of three pillars:

    • Structure

    • People

    • Information

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  • Stakeholders

  • Individuals or groups that may affect or be affected by the project.

  • Key Stakeholders:

    • Project Manager, Customer, Project Team, Project Sponsor, Functional Manager.

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  • Project Manager Roles

  • Initiator: Proposes new projects or ideas; proactive.

  • Negotiator: Engages in discussions to reach agreeable solutions; resolves conflicts.

  • Listener: Actively comprehends messages and fosters communication.

  • Coach: Guides teams in goal attainment and performance improvement.

  • Working Member: Participates actively in team dynamics and responsibilities.

  • Facilitator: Manages group processes to ensure effective outcomes.

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  • Project Manager Roles Continued

  • Emphasizes roles of Initiator, Negotiator, and Listener in project success.

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  • Project Manager Roles Continued

  • Highlights roles of Coach, Working Member, and Facilitator in teamwork and project execution.

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  • Milestone vs Task Duration

  • Milestone: Significant event marking the completion of deliverables.

  • Task Duration: Time taken to finish specific project activities.

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  • Project Roles

  • Project Manager: Leads and makes decisions.

  • Project Coordinator: Weaker role than PM, may have decision-making rights.

  • Project Expeditor: Limited decision ability, least authority.

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  • Project Management Office (PMO)

  • Structure standardizing processes and resources sharing.

  • Types:

    • Supportive: Provides templates and training.

    • Controlling: Determines frameworks and forms usage.

    • Directive: Controls projects and assigns PMs.

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  • Project Bosses

  • Sponsor: Internal or external, funds the project, resolves conflicts.

  • Project Champion: Supports project initiatives.

  • Program Manager: Oversees multiple concurrent projects, resolves conflicts.

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  • Organizational Structures

  • Functional Organizations: Staff grouped by expertise; team reports to functional managers.

  • Matrix Organizations: Various authority structures (weak, balanced, strong).

  • Project-Oriented: PM has the most authority; full-time project teams.

  • Hybrid: Blended type of organization.

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  • Organizational Structures Chart

  • Comparison of authority levels across different organizational structures:

    • Functional, Weak Matrix, Balanced Matrix, Strong Matrix, Projectized.

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  • Project Constraints

  • Constraints include:

    • Scope

    • Schedule

    • Cost

    • Risk

    • Quality

    • Resources

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  • Areas of a Project

  • Scope: Work to be done.

  • Schedule: Timeframe for task completion.

  • Cost: Budget for project execution.

  • Quality: Customer satisfaction with the work.

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  • Additional Areas of a Project

  • Resources: Managing people and materials.

  • Communications: Accurate information dissemination among stakeholders.

  • Risk: Identifying and managing risks during the project's lifecycle.

  • Procurements: Acquiring external resources.

  • Stakeholder Engagement: Keeping stakeholders informed and involved.

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  • Project Management Approaches

  • Predictive Approach:

    • Linear, sequential process.

    • Detailed upfront planning with fixed scope.

    • Limited flexibility and defined change control process.

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  • Project Management Approaches Continued

  • Adaptive Approach:

    • Focuses on flexibility and iterative development.

    • Embraces change, encourages collaboration, and continuous improvement.

    • Common in methodologies like Scrum or Kanban.

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  • Product vs. Project Management

  • Product Management:

    • Strategic planning, development, and lifecycle management of products.

    • Aligns products with market needs and customer demands.

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  • Product vs. Project Management Continued

  • Project Management:

    • Focuses on executing specific projects within scope, timeline, and budget.

    • Ensures quality standards are met and project goals are achieved.

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  • Product vs. Project Management Continued

  • Collaboration between product and project managers to ensure alignment of strategy with execution.

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  • Issues, Risks, Assumptions, and Constraints

  • Risks: Potential negative events affecting project success.

  • Issues: Problems hindering progress; typically arise during the project.

  • Assumptions: Statements considered valid for planning purposes.

  • Constraints: Limitations impacting project execution.

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  • Leadership vs. Management

  • Management:

    • Focuses on tasks and efficient execution; involves planning and organizing.

    • Maintains stability and control over processes.

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  • Leadership vs. Management Continued

  • Management aims for immediate goals and operational efficiency.

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  • Leadership:

  • Focuses on inspiring and influencing others, fostering collaboration and empowerment.

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  • PMI, Process Group and Practice Guide

  • Reference indicated with page number.

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  • Emotional Intelligence

  • Refers to the ability to manage and recognize emotions in oneself and others.

  • Important for communication, conflict management, and leadership in project management.

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  • Emotional Intelligence Continued

  • Key areas: Relationship Building, Communication, Conflict Management, Motivation, Leadership, and Stakeholder Management.