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Project Management Exam 1 - Coggle Diagram
Project Management Exam 1
Chapter 2: Context
Frames of the Organization
Structural: Roles and responsibilities, coordination, and control. Organizational charts help to describe
Human resources: Providing harmony between needs of the organization and needs of the people
Political frame: Coalitions composed of varied individuals and interest groups. Conflict and power are key issues.
Symbolic frame: Symbols and meanings related to events. Culture, language, traditions, and image are all parts of this frame.
Key definitions
Control: the degree to which rules, policies, and direct supervision are used to oversee employee behavior
Outsourcing: acquisition of goods and services from an outside source
Project life cycle
Early phase
Resource needs are lowest
Uncertainty highest
Stakeholders have greatest influence
Middle phase
Certainty improves
More resources needed
Final phase
Ensure that requirements were met
Sponsor approves completion of project
Structures
Functional: Managers report to CEO
Project: Program managers report to CEO
Matrix: Middle ground between functional and project; personnel report to two bosses. In strong matrix, PM manages budget. In weak, functional manager does.
Systems thinking
Definition: taking a holistic view of carrying out projects within the context of the organization
Parts
Philosophy
Analysis
Management
Agile vs Waterfall
Waterfall: Well-defined, linear stages
Agile: requirements and solutions move quickly and easily, responding to change
Scrum is the most used method of agile development
Chapter 3: Process
Planning
Main purpose of planning is to guide execution
Outputs
Contract
Scope statement
WBS
Schedule
Prioritized risks
Scrum
Create product backlog
Crete spring backlog
Create release backlog
Plan work each day in daily Scrum
Document stumbling blocks
Initiation
Recognizing and starting a new project or project phase
Key documents
Stakeholder registry
Stakeholder Management Strategy
Kickoff Meeting Agenda
Scrum
Determine roles
Decide how many sprints will compose each release
Executing
Takes most time and resources
Many project sponsors and customers focus on deliverables related to providing the products, services or reults
Project Milestone Report
Scrum
Complete tasks each day, making comms different
Produce shippable product at end of each sprint. Several releases
Monitoring and controlling
Measuring progress
Includes performance reports, change requests
Affects all other processes
Scrum
Resolve issues and blockers
Create and update burndown chart
Demonstrate the completed product during the spring review meeting
Key reviews are daily Scrum and Sprint review
Closing
Gain stakeholder acceptance
Even if project not completed, should be closed out to learn
Outputs are project files and lessons learned
Scrum
Reflect on how to improve the product and process during the sprint review meeting
Chapter 4: Integration
Key Terms
Interface Management: Identifying and managing the points of interaction between various elements of a project
Project Management Plan
Structure
Project Organization
Managerial Process Plan
Technical Process Plans
Supporting Process Plan
Overview
Involves coordinating all planning efforts to create a consistent, coherent document
Financial Analysis
ROI
Payback
NPV
Weighted Scoring - Importance
Analysis of alternatives - opportunity cost
Project Initiation
Letter of Agreement
Charter
Structure
Business case
Agreements
Environmental factors
Process assets
SOW
Document that recognizes existence of project
Formal contract
Directing and controlling
change requests
problems must be solved quickly
Integrated Change Control
Influencing the factors that create changes to ensure that changes are beneficial
Determining that a change has occured
Managing actual changes as they occur
Change control
Former view: The project team should do exactly as planned
Current View: PM is dynamic
Change Control System documents how changes are made and who is authorized
Change Control Board: formal group of people responsible for approving or rejecting changes, includes stakeholders from entire organization
Chapter 5 : Scope
Project Scope Management Process
Planning scope
scope management plan
requirements management plan
Collecting requirements
elicitation, analysis, specification, and validation
Active stakeholder involvement is important
Methods
benchmarking
interviewing
focus groups and facilitated workshops
Questionnaires and surveys
Observation
Prototyping
Requirements traceability matrix lists various requirements and status
Defining scope
Product scope description, product user acceptance criteria, and all deliverables
Should get more clear and specific as time progresses
Creating WBS
Foundation document
Work package is lowest level task
Scope baseline includes WBS and WBS dictionary
Provides structure list of project work that needs to be done
Approaches
Analogy - review similar projects
Top-down - start with largest items and break them down
Bottom-up - start with specific tasks and roll them up
Best practices
One unit only appears in one place
An item is the responsibility of a single individual
Serves project team
Project team involved in making it
Flexible tool to accomodate changes
Validating scope
Scope validation - formal acceptance of deliverables
Customer signs off
Scope baseline represents final approved project scope statement with WBS and WBS dictionary
Controlling scope
Variance - difference between planned and actual performance
Best practices
Keep scope realistic
Involve users in management
Use off-the-shelf hardware where possible
User input
Involve users in selection process
Deliver something on a regular basis
Don't promise to deliver when you can't
Mitigating change and incomplete requirements
Prototyping
Put in writing
Document requirements in database
Chapter 6: Time
Processes
Planning schedule management
Model development
Methodology
Level of accuracy and units of measure
Control thresholds
Rules of performance measurement
Reporting formats
Process descriptions
Defining activities
Activity list with names, identifiers, and descriptionsA
Activity attributes such as relationships to other activities, requirements, constraints, etc.
Milestones - significant events
Sequencing activities
Dependencies
Mandatory dependencies: inherent in nature of work
Discretionary: defined by project team and should be used with care
External: involving non-project activities
Network diagram
Arrow method
Precedence Diagramming method
Estimating activity resources
Resource breakdown structure
Materials, equipment, supplies, people
Estimating activity durations
Should involve users
Three-point estimates
PERT and Monte Carlo
Developing the schedule
Gantt Charts
SMART Milestones
CPM
Determine critical path
Find slack
Free slack - delay without delaying early start
Total slack - amount of delay from early start without delaying project finish
Node is start and end point ofa ctivity
Forward pass - determine early start and finish
Backward pass - determine late start and finish
Shortening
Crashing - compress schedules with least incremental cost
Fast-track - do in parallel or overlap activities
Buffers
project buffer - before project due date
feeding buffer - time added before tasks on critical path
PERT - use weighted average
Controlling the
schedule
Don't plan for 100% capacity
Hold progress meetings
Allow for contigencies
Chapter 7: Cost
Definition of project cost management: cost of resources necessary to perform and complete activities
Cost: resource sacrificed or foregone to achieve objective
Processes
Planning cost management
Level of accuracy
Organizational procedure
Control thresholds
Rules of performance measurement
Reporting formats
Process descriptions
Estimating costs
Cost estimation is extremely important
Number and type of costs estimates vary by application area
Techniques
Analogous: cost of previous project
Bottom-up: involve estimating individual work items
Parametric modeling - use project characteristics
Problems
Lack of experience
Done too quickly
Bias towards underestimation
Determining the budget
Produce cost baseline - time-phased budget with WBS as input
Controlling costs
EVM
Planned value - portion of approved total cost planned to be spent on activty
Actual cost - total of direct and indirect costs incurred in accomplishing work
Earned value - estimate of value of physical work completed
Rate of performance - ratio of actual work completed to percentage of work planned to have been complete
Ratios
CPI = EV/AC
SPI = EV/PV
EAC = BAC/CPI
ETC = EAC-AC
TCPI - estimate of cost performance necessary to meet goal
Negative numbers in variance are problems, meaning project has cost more than planned
Types of costs
Tangible - easily measured
Intangible - difficult to measure
Direct - directly related to producing products and service of project
Indirect - not directly related to producing products and services
Sunk - money spent in the past
Financial terms
Life cycle costing - considers total cost of ownership
Cash flow analysis - determines estimated annual costs and benefits for a project and the resulting annual cash flow
Principles
Learning curve - unit cost decreases as item is produced more
Reserves
Contigency- partially planned for situations
Management reserves- unplanned situations
Chapter 1:
Advantages of formal project management
Improved customer relations
Better control of financial, physical, and HR
Lower costs
Shorter development times
Higher quality
Improved productivity
Higher profit margins
Improved productivity
Better internal coordination
Higher worker morale
Project
Temporary endeavor undertaken to create unique product, service, or result
Attributes
Has unique purpose
Is temporary
Has primary customer or sponsor
Involves uncertainity
Examples
Healthcare Interporability
Team of students creates smartphone app and sell it
Company develops driverless car
Top strategic technologies
Blockchain
AI security
AI Foundation
Project and program
Project managers work with project sponsors, team, and other stakeholders
Program: group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually
Program managers oversee programs; often act as bosses for project managers
Project portfolio management: manage projects and programs as a portfolio of investments
Triple Constraint
Time
Scope (Quality or Performance)
Costs
Stakeholders
Sponsor
Manager
Team
Support Staff
Customers
Users
Suppliers
Opponents to the project
Sucess
Triple Constraint
Time
Cost
Scope
Met its main objective
Satisfied with custoemr/sponsor
Reasons
Staff expetrise
Engagement from stakeholders
Funding
Different situations
Novel: leadershrship
Large: Prior experience
Uncertainty: Risk management
Manhattan project - first modern project
PMO is an organization group responsible for coordinating the project managemetn
Tools
Low-end: <200
Midrange: 200-1000 like MS Project
High-end: >1000 like Microsoft Enterprise Project Management