pmp exam preparation course: 01 project management framework

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B. M. Shahrier Majumder, PMP

PMP® Exam Preparation

http://www.wizardea.com/



Project Management Framework


Learning Objectives

Upon completion of this topic you will learn about

Definition of project, project management, program management and portfolio management

Relationship among project management, program management and portfolio management

Operation management

PMO

Role of a project manager

Characteristics of the project lifecycle

Project management lifecycle vs. project lifecycle

Product vs. project lifecycle

Project vs. operational work

Stakeholders

Project management into different organizational structure

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What is a Project

Characteristics of a Project

– Temporary, with defined start and end time

– Create unique products or services

– Need some resource or budget

– Need to meet stakeholders expectations or requirements

– Project are progressively elaborated

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E.g. Develop an apartment building within 3years, Launch a new banking product within 9months, Develop 6 HR for cloud computingwithin 5 months, Marketing campaign for theBeauty Gel by December 2011.




Competing Project Constrains

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Project Management

“The application of knowledge, skills, tools and techniques to complete the

project on time, on budget and to the specification.”

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5 Process Groups of Project Management

• Initiation

• Planning

• Execution

• Monitoring & Control

•Closing




Program Management

“A group of related projects

managed in a coordinated way to

obtain benefits and control not

available from managing them

individually. Programs may include

elements of related work outside of

the scope of the discrete projects.”

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Portfolio Management

A portfolio refers to a collection of projects and programs and other work

that are grouped together to facilitate effective management of the work to

meet strategic business objectives.

Portfolio management refers to centralized management of one or more

portfolios which includes identifying, prioritizing, authorizing, managing

and controlling projects, programs and other related work, to achieve

specific strategic business objectives.

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E.g. A software development firm hasstrategic objective to “maximize ROI” mayput together a portfolio that includes a mixof projects in ERP, Banking and COTSprojects. From this mix the firm may chooseto manage related projects as one program.




Relationship among Project, Program and

Portfolio Management

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Operation Management

Operations are an organizational function performing the ongoing

execution of activities that produce the same product or provide a

repetitive services. Operation requires business process management or

operations management.

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E.g. Accounts management, Personnelmanagement, Inventory management,Marketing Management etc.




Project Management Office (PMO)

A Project Management Office (PMO) is an organizational body or entity

assigned various responsibilities related to the centralized coordinated

management of those projects under its domain.

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The primary function of PMO may include, butare not limited to• Managing shared resources across all projectsadministrated by the PMO;• Identifying and developing projectmanagement methodology, best practices andstandards;• Coaching, mentoring, training and oversight;• Developing and managing organizationalprocess assets;• Monitoring project compliance withorganizational process assets via project audits;• Coordinating communication across projects.




Role of a Project Manager

• A project manager is a person assigned by the performing

organization to achieve the project objectives.

• Depending on the organizational structure a project manager may

report to the functional manager / portfolio manager / program

manager.

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Effective project management requires that

project manager processes the following

characteristics:•Knowledge. This refers to what the project

manager knows about project management.

•Performance. This refers to what the project

manager is able to do or accomplish while

applying their project management knowledge.

• Personal. This refer to how the project

manager behaves when performing the project

or related activity.




Characteristics of the Project Lifecycle

Project vary in size and complexity. No matter how large or small, simple or complex, all projects can be mapped to the following life-cycle structure:

– Starting the project

– Organizing and preparing

– Carrying out the project work and

– Closing the project

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Product Vs. Project Lifecycle

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Project Management vs. Project Lifecycle

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• Medium or

• Large Project

• Small Project




Project Vs. Operational Work

• Project and operations differ primarily in that operations are ongoing and produce repetitive products, services, or results. Projects are temporally and end. Conversely, operations work is ongoing and sustain the organization over time.

• Organization perform work to achieve a set of objectives. In many organizations the work performed can be categorized as either project or operations work. These two type of work share a number of characteristics as follows:

– Performed by individuals

– Limited by constraints, including resources constrains

– Planned, executed, monitored and controlled and

– Perform to achieve organizational objectives or strategic plans.

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Stakeholders

Stakeholders are persons or organizations, who are actively involved in the project or whose interests may be positively or negatively impacted by the performance or completion of the

project.

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Organizational Structure

• Functional Organization

• Projectized Organization

• Matrix Organization

– Strong

– Weak

– Balanced

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Functional Organization

• Hierarchical

• Bureaucracy – Chain of

Command

• Each functional department

managed independently

• Projects generally within dept

• HOD is PM

• Cross-Functional projects

– Team members loyal to

Functional Managers

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Projectized Organization

• Project Manager have ultimate authority

• Supporting departments may report directly to PM

• Teams can be collocated, i.e. team members physically work in the same location

• Team members report to PM

• Resource utilization may be low

• Fear of being out of work after project completion

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Matrix Organization

• Takes advantage of strengths and weaknesses of both functional and

projectized organization

• Employees report to at least one Functional and one Project Manager

• Functional Managers have administrative duties

• Project Managers responsible for work assignments

• Communication and Negotiation between Functional and Project

Manager

• Balance of power between Project and Functional Managers

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Strong Matrix Organization

• Tends towards Projectized

Organization

• Balance of power with Project

Manager

• PM can force Functional

Managers for resources

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Weak Matrix Organization

• Tends toward Functional

organization

• Functional Managers have all

the power

• PMs are project coordinators

• PMs have little or no authority

• Functional Managers assign

work

• PM expedites the project

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Balanced Matrix Organization

• Power balanced between

Project Manager and

Functional Manager

• Staff are assigned based on

project needs

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Questions

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pmp exam preparation course: 01 project management framework

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