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Similar to Class 1 - PM Basics and learning about projects
Class 1 - PM Basics and learning about projects
- 1. 1 Intro to ProjectManagement Class 1 Module 2 Introduction to Project Management Professor Shelly Morris Welcome!
- 2. 2 1. Identify thestrategic importance of projects and project management 2. Describe what a project is 3. Define project management and program management 4. Recognize the 5 Process Groups and 10 Knowledge Areas in PMBOK 5. Describe the role of the Project Manager 6. Identify the triple constraints faced by all projects After this Module, you will be able to:
- 3. 3 Why launch projects? Meet regulatory, legal or social requirements Satisfy stakeholder requests or needs Implement or change business or technological strategies and/or Create, improve or fix products, processes or services Something in the internal and external environment is driving change… PMBOK® Guide – Sixth Edition (2017).
- 4. 4 Organizations wasted almost12% of their investment in project spend last year due to poor performance. Source: PMI’s Pulse of the Profession Research Report (2019) The big picture - why is project management important?
- 5. 5 Executive sponsorsweren’t really engaged Projects weren’t aligned to organizational strategy Scope creep +++++ The ratio of wasted spend (12%) hasn’t changed much in the last five years. The future of work has changed: people no longer get a job for life. They’re much more likely to get a “portfolio of projects” to manage as organizations continuously innovate to remain competitive. And AI is predicted to be a bigger disruptor than the internet has been! Why such a high failure rate?
- 6. 6 • Better controlof financial, physical, and human resources • Improved customer relations • Shorter development times • Lower costs • Higher quality and increased reliability • Higher profit margins • Improved productivity • Better internal coordination • Higher worker morale Advantages of Using Formal Project Management
- 7. 7 A projectis “a temporary endeavor undertaken to create a unique product, service, or result”* Operations is work done to sustain the business Projects end when their objectives have been reached, or the project has been terminated What Is a Project? *Project Management Institute, Inc., A Guide to the Project Management Body of Knowledge (PMBOK® Guide, Sixth Edition, 2017)
- 8. 8 A project: Hasan established objective Is temporary Usually involves several departments and professionals Typically involves doing something that hasn’t been done before Has specific time, cost and performance requirements Project Attributes
- 9. 9 More examples ofprojects… Operations Entering sales receipts into the accounting ledger daily Responding to a supply- chain request Shipping new product orders Updating content on a website Projects Upgrading the accounting ledger Automating certain supply- chain processes Designing/launching a new product Building a new website
- 10. 10 Project management is“the application of knowledge, skills, tools and techniques to project activities to meet project requirements.”* It is critically important for all industries. Used by for-profit and non-profit organizations. It’s a transferrable skill that can be used in most businesses and professions What is Project Management? *Project Management Institute (PMI) . A Guide to the Project Management Body of Knowledge PMBOK® Guide, Sixth Edition, 2017
- 11. 11 History of projectmanagement https://www.youtube.com/watch?v=C1uxCBx2-UQ&feature=fvwrel
- 12. 12 • Project ManagementBody of Knowledge describes the knowledge within the profession of project management. • It is constantly evolving. Project management professionals contribute to it’s evolution by identifying new practices that, when followed, improve the likelihood of project success. • Note that this isn’t a methodology. • Organizations use the standard for project management as a foundation to create their methodologies. Project management needs to be tailored to fit the needs of the projects undertaken. 12 What is the PMBOK? 12
- 13. 13 The Project Lifecycle LinkedInLearning, Sandra Mitchell, PMP
- 14. 14 PMBOK’s Sixth Edition– 49 processes You need to learn this to write the CAPM Exam! Table 4.1 Project Management Process Groups and Knowledge Area Mapping. A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Sixth Edition. PMI. 2017 Knowledge Areas Initiating Process Group Planning Process Group Executing Process Group Monitoring & Control Process Group Closing Process Group 4. Project Integration Management 4.1 Develop Project Charter 4.2 Develop Project Management Plan 4.3 Direct and Manage Project Work 4.4 Manage Project Knowledge 4.5 Monitor and Control Project Work 4.6 Perform Integrated Change Control 4.7 Close Project or Phase 5. Project Scope Management 5.1 Plan Scope Management 5.2 Collect Requirements 5.3 Define Scope 5.4 Create WBS 5.5 Validate Scope 5.6 Control Scope 6. Project Schedule Management 6.1 Plan Schedule Management 6.2 Define Activities 6.3 Sequence Activities 6.4 Estimate Activity Durations 6.5 Develop Schedule 6.6 Control Schedule 7. Project Cost Management 7.1 Plan Cost Management 7.2 Estimate Costs 7.3 Determine Budget 7.4 Control Costs 8. Project Quality Management 8.1 Plan Quality Management 8.2 Manage Quality 8.3 Control Quality 9. Project Resource Management 9.1 Plan Resource Management 9.2 Estimate Activity Resources 9.3 Acquire Resources 9.4 Develop Team 9.5 Manage Team 9.6 Control Resources 10. Project Communications Management 10.1 Plan Communication Management 10.2 Manage Communications 10.3 Monitor Communications 11. Project Risk Management 11.1 Plan Risk Management 11.2 Identify Risks 11.3 Perform Qualitative Risk Management 11.4 Perform Quantitative Risk Management 11.5 Plan Risk Responses 11.6 Implement Risk Responses 11.7 Monitor Risks 12. Project Procurement Management 12.1 Plan Procurement Management 12.2 Conduct Procurements 12.3 Control Procurements 13. Project Stakeholder Management 13.1 Identify Stakeholders 13.2 Plan Stakeholder Engagement 13.3 Manage Stakeholder Engagement 13.4 Monitor Stakeholder Engagement Project Management Process Groups
- 15. 15 Project management processes INPUTSTOOLS & TECHNIQUES OUTPUTS
- 16. 16 Description of ProcessGroups 1. Initiating processes performed to define a new project or a new phase of an existing project by obtaining authorization to start. 2. Planning processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives 3. Executing processes required to complete the work defined in the project management plan to satisfy the project requirements. 4. Monitoring and controlling processes required to track, review and regulate progress and performance, identify areas where changes to the plan are required and initiate the corresponding changes. 5. Closing processes required to formally complete or close the project, phase or contract. PMBOK® Guide – Sixth Edition (2017).
- 17. 17 1. Integration managementis the processes and activities to identify, define, combine, unify and coordinate the various processes and activities with the process groups. 2. Scope management includes the processes required to ensure the project includes all the work required, and only the work required, to complete the project successfully. 3. Schedule management includes the processes required to manage the timely completion of the project Project Management Knowledge Areas PMBOK® Guide – Sixth Edition (2017).
- 18. 18 4. Cost managementincludes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget 5. Quality management includes the processes for incorporating the organization’s quality policy regarding planning, managing, and controlling project and product quality requirements, in order to meet stakeholders’ expectations. 6. Resource management includes the processes to identify, acquire and manage the resources needed for the successful completion of the project. Project Management Knowledge Areas PMBOK® Guide – Sixth Edition (2017).
- 19. 19 7. Communications managementincludes the processes involved to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring and ultimate disposition of project information. 8. Risk management includes the processes of conducting risk management planning, identification, analysis, response planning, response implementation and monitoring risk on a project. 9. Procurement management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. 10. Stakeholder management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution. Project Management Knowledge Areas PMBOK® Guide – Sixth Edition (2017).
- 20. 20 Tailoring No twoprojects are the same. So many factors make them different - number of resources and associated skills, culture of the organization/department, project constraints, etc. etc. The project team must determine the best life cycle approach for each. Considerations include: PMBOK® Guide – Sixth Edition (2017). SCOPE SCHEDULE COST RESOURCES QUALITY RISK
- 21. 21 The Project Manager Manages temporary, non-repetitive activities and often they’re bringing together experts from various disciplines who haven’t worked as a team before. Leadership skills are critical and they’re not “timid” by nature. Meet budget requirements of the project Coordinate the actions of team members Meet schedule requirements of the project Meet performance specifications A direct link to the customer They are ultimately accountable for project success. The challenge: incent the right people at the right time to create the right solution(s)
- 22. 22 Skills and Attributesof a great Project Manager 1. Visionary 2. Life-long learner that's results oriented 3. Two-way communicator 4. Managing relationships and conflict 5. Personal integrity 6. Emotional intelligence 7. Time management 8. Optimism Larson, Erik and Clifford Gray, Project Management – The Managerial Process, 8th ed. (New York: McGraw Hill Education, 2020, pp 376-377)
- 23. 23 Project managementtools and techniques assist project managers and their teams in various aspects of project management. Note that a tool or technique is more than just a software package. Specific tools and techniques include: Project charters, scope statements, and WBS (scope) Gantt charts, network diagrams, critical path analyses (time) Net present value, cost estimates, and earned value management (cost) Tools and Techniques
- 24. 24 Every project isconstrained in different ways. The iron triangle of project management (also called the triple constraints) are: 1. Scope: What work will be done as part of the project? What specifications does the customer or sponsor expect to be included in the project? 2. Time: How long should it take to complete the project? What is the project’s schedule? 3. Cost: What should it cost to complete the project? What is the project’s budget? What resources are needed? Other constraints include quality, risk, and resources Understanding the constraints that are present on your project is key to understanding the tradeoffs that can be made. Project managers are guided by these tradeoffs in the decisions they make on the project and in their communications with their stakeholders. Project Constraints = Tradeoffs
- 25. 25 www.pmi.org There aremany different certifications available to you depending on your career goals. And once you’re certified, you need to maintain it by continiously developing your skills. Join Toronto Chapter of PMI. Great networking opportunities with veteran practitioners and potential employers. Let me know if you’re interested… Could this be for you? …the Project Management Profession
- 26. 26 Lots of certificationopportunities… Check out “Project Management Certifications” content area in Blackboard for more information…
- 27. 27 Even if it’snot part of your career plan, it’s a core business skill The top skills employers look for in new college graduates are all related to project management: the ability to work in a team structure the ability to make decisions and solve problems the ability to plan, organize, prioritize and get things done This is project management!
- 28. 28 1. Identify thestrategic importance of projects and project management 2. Describe what a project is 3. Define project management and program management 4. Recognize the 5 Process Groups and 10 Knowledge Areas in PMBOK 5. Describe the role of the Project Manager 6. Recognize the difference between the “art” and “science” of project management 7. Identify the triple constraints faced by all projects You’re now able to:
- 29. 29 1. Tell usa bit about yourself (course blog) 2. Signup on the Groups Signup padlet 3. Add assessment dates to your favourite calendar Your next steps… Next class… We’ll learn how organizations decide which projects to pursue.