OM 303: PROJECT MANAGEMENT

Lesson 1: Foundational Elements of Project Management Relationship between the Three Components of a Project

What Makes a Project a PROJECT? Product

A Project is a temporary endeavor undertaken to create a unique product,
service or result.
▪ Projects are undertaken to fulfill objectives by producing deliverables. Schedule Resources
Objectives o These components are the basis of a project’s definition for the following three
reasons:
o Objective is defined as an outcome toward which: • The only reason a project exists is to produce the results specified in its
• A work is to be directed scope.
• A strategic position to be attained • The project’s end date is an essential part of defining what constitutes
• A purpose to be achieved successful performance; the desired result must be provided by a certain
• A result to be obtained time to meet its intended need.
• A product to be produced • The availability of resources shapes the nature of the products the
project can produce.
• A service to be performed

Deliverables o Businesswise, projects are usually begun to address one or more

demands from inside or outside the company.
o It is any unique and verifiable product, result or capability to perform a
service that is required to be produced to complete a process, phase, or
o Examples of this drivers include, but are not limited to are the following:
project.
• A market demand to expand production of products
o It may be tangible or intangible
• A organizational need to train people with new skills
Components of a Project o A project, large or small has the • A specific request from a key customer
• A legal requirement from the government or regulatory body.
following three components:
o Projects can take many different forms. There may be projects around the
• Specific scope: Desired results or products
following:
• Schedule: Established dates when project would start and end.
• Technology implementations, such as automation equipment
• Required resources: Has a budget that limits the amount of people,
• Information technology implementations, such as automation equipment
supplies, money and other resources that can be used to complete
• Information technology or systems that will change the computer system
the project.
• Business development initiative to grow the business.
• Human resource performance, such as training projects
• Strategy initiatives, such as introducing a new project line
• Integrating two companies after an acquisition or merger.
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• And all of these projects usually start with a decision about what the o Optimize the use of organizational resources; o Deliver the right
customer will require from the company in the future and focus on products at the right time; o Respond to risks in a timely manner; o
meeting and exceeding these customer requirements or needs. Resolve problems and issues;
• These requirements are put into strategic plan that is carried out over a o Identify or terminate failing projects; o Manage constraints (scope,
period of anywhere from a few months to as many as five years. quality, schedule, costs, resources) o Manage change in a better
• In addition, to execute these requirements, various projects are created. manner.
When projects are related, they become a program. Criteria for a Successful Project
Relationship of Project; Program; Portfolio
Universally success for almost projects meet the following criteria:
• Process: A process is a series of routine steps to perform a particular
function, such as procurement process or a budget process. ▪ Finishing the project schedule.
• A process is not a one-time activity that achieves a specific result; instead ▪ Keeping costs within the budget
it defines how a particular function is to be done every time. Processes, ▪ Meeting quality goals (or outcomes) agreed upon by the project
like the activities that go into buying materials, are often parts of projects. stakeholders and the project team.

Golden Rules of a Project Management Success

• Program: A program can be set of goals that gives rise to specific
projects, but unlike a project, a program can never completely achieve its ▪ The basic rules of project management seek to give the project manager
goal, but one or more projects may accomplish specific results related to the focus needed to get work done on time, within budget and to the
the program’s goal. Secondly, a program sometimes refers to a group of expectations of the stakeholders.
specific projects that achieve a common goal.
▪ Ignoring these rules of project management could lead to failure or at
least cause a lot of problems which otherwise might have been avoided.
• Portfolio: A portfolio is a collection of projects, programs and subsidiary
portfolios and operations managed as a group to achieve strategic
 Rules:
objectives.
▪ Obtain consensus on project outcome.
PROJECT MANAGEMENT PROCESS ▪ Build the best team possible.
▪ Develop a plan and keep it updated.
• Project Management is accomplished through the appropriate ▪ Have a realistic schedule
application and integration of the project management processes
▪ Determine what are needed to get things done.
identified for the project.
▪ Gain the support of stakeholder and management.
• Project management enables organizations to execute projects
▪ Have an appropriate scope for the project.
effectively and efficiently.
▪ Always remember that people count.
Importance of PROJECT MANAGEMENT ▪ Keep others informed of what is happening.
▪ Be open to possible changes.
• Effective project management helps individuals, groups, and public and ▪ Be ready and willing to try new things.
private organizations to accomplish the following: o Increase chances of ▪ Be a leader.
success; o Meet business objectives; o Satisfy stakeholder expectations;
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Indicators of Project Failure  Inability to manage change. All too frequently, the organization is simply
not prepared to accept the changes a project might fail.
Poorly managed projects or the absence of effective project management may
result in any of the following:
FOUR PHASES OF TRADITIONAL PROJECT MANAGEMENT
▪ Failure in achieving the objectives for which the project was undertaken;
▪ Unsatisfied stakeholders;  PROJECT MANAGEMENT is the process of guiding a project from its
▪ Poor quality and cost overruns, and beginning through its performance to its closure.
▪ Missed deadlines that could lead to loss of reputation of the organization.
Reasons for Project Failure
Phase 1: PROJECT INITIATION AND DEFINITION PHASE
 Poor project and program management discipline. To avoid this
 This phase of the project defines what the project will attempt to accomplish
problem, develop a well-defined project plan using a proven methodology
when it is finished. It involves:
and use project management tools to track and control the project.
• Clarifying the business need,
 Lack of executive support. To avoid this problem, the executive
leadership must be enlisted. Also, the executive team must be provided • Defining high-level expectations and resource budgets,
with regular communications, and constantly reinforce the need for their • Identifying audiences that may play a role in the project; and
involvement at the appropriate times. • Detailing the project scope, time frames, resources, and risks,
 No linkage to the business strategy. A clear business direction must be as well as intended approaches to project communications,
understood by everyone who is impacted by the project. Ensure that quality, and management of external purchases of goods and
everyone knows why this project is important, what it will mean when it is services.
complete, and how the plans are to be implemented to provide desired
Phase 2: PROJECT PLANNING AND ORGANIZING PHASE
results.
 The wrong team members. Sometimes people are selected for a project  The project manager and key team members are planning all the work they
because they “have the time”. This should be the last criteria for choosing must finish to make the project successful. This will involve:
someone for the team.
• Establishing and managing the project team; •
 Pick the best players and give their day-to-day workload to those who are
Communicating with and managing project audiences; and
available.
• Budgeting and launching the project.
 If the right people are not available, hire contractors or consultants who
do have the knowledge and experience. Phase 3: PROJECT EXECUTION AND IMPLEMENTATION PHASE
 No measure for evaluating the success of the project. Too often, no
one has developed the acceptance criteria to determine exactly how the  The greatest amount of effort, time, and money are expended to complete
team will know whether the project is a success. These measures should all the activities defined during the planning phase.
be contained in the business case for the project. • This also involves tracking performance and taking actions
 Lack of a robust risk strategy. All good projects have a well-defined risk necessary to help ensure project plans are successfully
plan. Identify as many potential risks as possible and develop a plan for implemented and the desired results are achieved.
mitigating them.
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Phase 4: PROJECT CLOSE-OUT PHASE ▪ Information: accurate, timely, and complete data for the
planning, performance monitoring and final assessment of the
 After a project has been successfully completed, the project manager and project.
sometimes key team members captured what they have learned and ▪ Communication: Clear, open, and timely sharing of information
complete all the administrative tasks that officially earned the project. with appropriate individuals and groups throughout the project’s
duration.
Four PHASES of Project Life Cycle ▪ Commitment: Team members’ personal promises to produce
the agreed upon results on time and within budget.
Define > Plan > Execute > Close-out
Lesson 2: Types of Project
DEFINE
TYPESOF PROJECT 1. Business
▪ Business goals
Planning and Development:
▪ Scope
▪ Budget •
Growth of the business within its core markets by capitalizing on
▪ Schedule market growth or market share increase.
PLAN • Expansion of the business into new market sectors.
• Development of new products
▪ Work • Increasing profits through cost-reduction management
▪ Resources • Internal structural reorganization
▪ Risk mitigation 2. Market Research
▪ Stakeholder engagement
• It is the process through which project consultants discover the
nature of competitive environment in which they are operating.
EXECUTE
• Its objective is to obtain information in which project consultants can
▪ Work Completion use to support decision making. It could be primary or secondary
▪ Monitor and track research.
▪ Manager risks
▪ Maintain alignment with business 3. Marketing Strategy Development:
• What products do customers want from a sector’s producers?
CLOSE-OUT
• In what way are competitors failing to provide these products?
▪ Release people • What price are customers expecting or willing to pay?
▪ Lessons learned • What channels are available for getting the product to the customer?
▪ Close contracts • Who might be the partner in the distribution process?
▪ Final accounting • How might they be approached?
• In what ways can customers be informed that the product is
 Successful performance of these processes requires the following: available?
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• How can the customers’ interest be stimulated through promotion? • Developing assessment criteria, interview procedures and
possibly psychometric testing of candidates;
• Advice on the reimbursement packages new recruit will expect.
4. Developing Promotional Campaigns:
• What methods will prove to be cost-effective • What will be the
mechanics of running the campaign? 9. Information System Development
• How can it be monitored? • Project consultants need information to make good decisions.
They need information on both the business’ external situation
– its competitive environment and its internal state.
5. Planning a Sales Force Activity
• MIS aim to collect and organize such information and present it
• Overall organizational structure of the team to managers in a usable form.
• Sales team training
• Sales team motivation
10. Exporting and International Marketing
• Planning sales campaign
• Many high growth firms soon recognize the opportunity the
international stage offers them as a route for expansion.
6. New Product Development
• Project consultant can supply insight into regional, social and
• Understanding the customer needs through market research; macroeconomic development
• Technical advice on product development; • Analysis of growth and evolution of specific market
• Identifying and contacting suppliers of critical component • An evaluation of consumer needs and requirements and how
• Financial planning and evaluation of the return on new product these are being satisfied currently;
investment. • Information on regulatory and legal issues;
• Details of the existing supply structure and competitors present;
7. Developing Proposals for Financial Support
• An investigation into distribution channels and possible
• Evaluation of business investment needs partners;
• Identification of funding providers and how might be contacted • Information on advertising and promotional opportunities.
• Developing an understanding of the criteria employed by Lesson 3: Key Players in the Project Management Process
funding providers and how these might be addressed
• Developing communications with funding providers, particularly Functional Structure
at relation to proposals and business plans.
• The functional organization structure brings together people who
perform similar tasks or who use the same kinds of skills and knowledge
8. Staff Recruitment in functional groups.
• Assessing the firm’s human resource requirement and • In this structure, people are managed through clear lines of authority that
identifying skill and knowledge gaps, both currently and extend through each group to the head of the group and ultimately to a
predicting for the future; single person at the top.
• Creating advertisement to attract the right people;
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The Matrix Structure o Developing or approving plans that specify the type, timing and
amount of resources required to perform tasks in the area of
• The matrix structure combines elements of the both the functional and specialty.
the projectized organization structure to facilitate the responsive and o Ensuring team are available to perform their assigned tasks for
effective participation of people from different parts of the organization on the promised amount of time.
projects that needs their specialized expertise.
o Providing technical expertise and guidance to help members
• People from different organization are assigned to lead or work on solve problems related to their project assignments.
projects. Project managers guide the performance of project activities
o Providing the equipment and facilities needed to do the work.
(from groups such as finance, manufacturing and sales) perform
o Helping people maintain their technical skills and knowledge. o
administrative tasks like formally appraising people’s performance and
Ensuring members of the functional group use consistent
approving promotions, salary increase or requests for leave.
methodological approaches on all their project.
The Role of Upper Management o Completing the team members performance appraisals. o
Recognizing performance with salary increases, promotions,
• Upper management creates an organizational environment; oversees the administrative leave, training etc.
development and use of operating policies, procedures and practices;
and encourages and funds the development of required information KEY PLAYERS IN THE PROJECT MANAGEMENT PROCESS
systems. o Creating the organizational mission and goals that
• The following play a critical roles in every project’s success:
provide the framework for selecting the projects. o Setting policies
and procedures for addressing priorities and conflicts
1. Project owner: The person who initiates the project, finances its,
o Creating and maintaining labor and financial information and heads up the business unit where the project’s products or
systems services will be used.
o Providing facilities and equipment to support project work o 2. Project sponsor: The person who provides top level project
Defining the limits of managers’ decision-making justification, funding, liaison, and reporting as well as providing
authority o Helping to resolve project issues and specific and pragmatic support to the project manager.
decisions that cannot be handled successfully at lower levels in 3. Project manager: The person ultimately responsible for the
the organization. successful completion of the project.
4. Project team members: People responsible for the successfully
performing individual project activities.
The Role of Functional Managers

• Functional Managers are responsible for orchestrating their staff

Project Owner • He is expected to perform the following
assignments among different projects.
• They provide the necessary resources for their staff to perform their work tasks:
in accordance with the highest standards of technical excellence.
o Help to define the business benefits to be produced by the
• The functional manager is responsible for the following:
project. o Help to ensure that the design of the project will
produce those business benefits.
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o Ensure all information, people knowledgeable about the Project Team Members • They expected to perform the
different aspects of operations, and required access to facilities
and equipment are provided as promised when needed. following tasks:

Project Sponsor o Performing tasks in accordance with the highest standards of

technical excellence in the field.
• He is expected to perform the following tasks: o Performing assignments on time and within budget. o
o Fleshing out the need of the project in the business case o Maintaining the special skills and knowledge required to do the work
Estimating the funds, the schedule, and resources needed for well. o Considering the effect one team member’s action may have
the project. o Securing the funding and other required on the other team members’ tasks. o Identifying situations and
resources for the project. problems that may affect team members’ tasks. o Keeping the other
o Preparing the project charter. o Ensuring that the project is team members informed of the project’s progress, accomplishment
producing high-quality deliverables. and any problems encountered.
o Supporting the assessment and management of project risks. Lesson 4: Defining the Project Manager’s Role, Responsibilities and
o Providing senior management with information about project Qualifications
activities performed, resource expended, results produced, and
any issues that may adversely affect the chances of project’s Project Manager
successful completion.
• He is the person assigned to lead the project management process and
Project Manager he is ultimately responsible for the project success.
• He identifies the central problem to solve and determines with input from
• He is expected to perform the following tasks: the sponsor and stakeholders, how to tackle it: what the project’s
o Determine objectives, schedules and resource budgets. o objective and scope will be and which activities will deliver the desired
Ensuring that there is a clear, feasible project plan to reach the results.
performance targets. • He then plans and schedules tasks, oversees day to-day execution, and
o Identifying and managing project risks. o Creating and he evaluate progress until he evaluates performance, brings the project
sustaining a well-organized, focused and committed team. to a close and captures the lesson learned.
o Selecting or creating the team’s operating practices and • Good project manager can both handle the authority and responsibility
procedures. necessary to guide the project.
o Monitoring performance against plans and dealing with any • Management and leadership go hand-in-hand,
problems that arise. • The team members expect their leaders to be honest, competent and
o Resolving priority, work approach, or interpersonal conflicts. o inspirational as well as skilled in the use of project management
Identifying and facilitating the resolution of project issues and techniques.
problems. o Controlling project changes. o Reporting on project
The Leadership Role of Project Manager
activities. o Keeping the stakeholders informed and committed. o
Accomplishing objectives within time and budget targets. Interpersonal Role
o Contributing to the team members’ performance appraisal.
o Deal effectively with people from various professional
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backgrounds; ▪ Ability to draw meaning from that information and use it to

o Solve team disputes and create team unity; o Focus and support decision-making.
motivate team members to achieve milestones on the way of ▪ Ability to recognize the business profile of strengths,
achieving the project goal; weaknesses, and capabilities
o Build relationship with stakeholders; o Be sure to listen carefully ▪ Ability to recognize the opportunities and challenges the
to other’s opinion when making decisions. environment offers the business
• Informational Role: ▪ Ability to assess the business financial situation
o Arrange and lead team meetings; o Create and maintain work ▪ Ability to evaluate the business market and how they are
schedules for other people; o Communicate the project vision to developing
upper management; Provide feedback requiring results, quality, and ▪ Ability to assess the business internal conditions
project deliverables. ▪ Ability to analyze the way in which decision-making occurs
• Decisional Role: within the business.
o Distinguish between features and benefits o  Relationship Building Skills – The firm’s management and influential
Appropriate resources if a project falls behind schedule o outsiders must be convinced that the project has a good direction.
Strike a balance between costs and results ▪ Ability to build rapport and trust with the enterprise management
▪ Ability to question effectively
Traits of a Good Project Consultant/Manager ▪ Ability to communicate ideas succinctly and precisely
 Project Management Skills – A project management exercise is a self- ▪ Ability to negotiate objectives and outcomes
contained project within a business environment. ▪ Ability to convinced through verbal, written and visual mediums
▪ Ability to define objectives and outcomes ▪ Ability to use information to make a case for a particular course
▪ Ability to develop formal plans of action
▪ Ability to sequence and prioritize tasks ▪ Ability to develop selling strategies
▪ Ability to manage financial resources that are to be invested in ▪ Ability to work effectively as a member of a team
the consulting project ▪ Ability to demonstrate leadership
▪ Ability to recognize the human expertise necessary to deliver Lesson 5: Introduction to Project Management Body of Knowledge
the project
▪ Ability to manage personal time PROJECT INTEGRATION MANAGEMENT
 Analysis Skills – a project management exercise must do something for
the business enterprise. It must offer the business the chance of moving ▪ All products are meant to address some business needs.
from where it is “now” to somewhere “new and better”. ▪ Otherwise, the project would have not been approved in the first place.
▪ Ability to identify what information is available in a particular When the project begins, several people will be working on a variety of
situation. things, often at the same time and only occasionally together.
▪ Ability to identify what information is needed in a particular ▪ Eventually, someone will have to bring all this work together in a coherent
situation. way, and this is the job of the project manager.
▪ Ability to process that information and to identify the important ▪ He makes sure that all the work fit together to produce the results that
relationship within it. were promised by the project in its business case.
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▪ Finally, when the project is completed, the product or service produced ▪ Finally, when the process is followed, the last step is to revise the project
by the project needs to be integrated into the company’s ongoing plan. The new plan reflects the change and the corrections to schedule
operations. and budget.
▪ He also needs to keep record of changes made so he can document them
Integration Management as part of Planning at the conclusion of the project.
▪ Much of the work around successful project management is planning the PROJECT SCOPE MANAGEMENT
project.
▪ Planning considers how the people in the team work together and ▪ During the project, managing the scope is extremely important as one of
particularly where coordination will be important. the leading causes of project failure is the problem of “scope creep” when
▪ Planning for this type of integration is important as the plans are the project keeps getting bigger and more complex.
developed. ▪ One of the first planning exercises in any project is to define the project
▪ The baseline plan allows the manager to see how the project changed scope. The project manager needs to clarify what is included in the project
lover the course of the project and should provide valuable information as well as what is not included in the project.
for lessons learned at project close-out. ▪ Project managers can get into trouble if they make assumptions about
what is not included in the project but never confirm those assumptions.
Integration Management During Project Execution ▪ It is a good practice to write a clear, definite scope statement and to have
the sponsor and the key customers review it. If any adjustments need to
▪ Here, the focus changes from planning to managing the processes.
be made, it is best to know that earlier rather than later.
▪ During the project execution, the project manager works to ensure that
▪ During the planning phase, project consultant begins to define the scope
the product or service the project produces will be acceptable to the
in great detail plan for all the tasks that need to be completed to finish the
consumers by carefully managing the written plan and following the
project.
outlined procedures.
▪ One of the key procedures is the work authorization system, a formal ▪ When the project is finished, the project manager will verify that it has
process approving project work that makes sure the work is being done completed the scope and the sponsors and the key customers accept it
at the right time in the right way. as completed.
▪ The other key is maintaining a control system that is visible through a PROJECT SCHEDULE MANAGEMENT
reporting that identifies the status of the project.
▪ Many people often refer to project management as a detailed time
management exercise. However, time is only component the project
Integration Management of Project Changes
manager must control during a project.
▪ During the course of a project, things always change. A project manager’s ▪ Time management is the key driver for a project.
job is not to prevent change but to manage it effectively. Time and the Schedule
▪ Sometimes the project manager can almost predict which change will be
▪ Time is managed during a period if one develops an accurate schedule
requested. In those situations, the process he puts into place becomes a
and manage to that schedule. Milestones may also be set for the project
lifesaver and a face-saver,
as a way to track how well one is doing in meeting the schedule.
▪ He needs to include specific steps, one of which is an impact analysis of
the change on the project. Controlling the Schedule during the Execution
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▪ Important time is spent in developing and establishing the schedule for ▪ Enforcing quality assurance to measure that the project is producing
completing that work. against the requirements.
▪ However, all the time and effort are wasted if one does not manage the ▪ Checking quality control to ensure quality standards are met and that any
time the project team uses to execute the work. deviations are identified and corrected.
▪ Most project managers use a baseline schedule as a way to manage the
time. PROJECT RESOURCE MANAGEMENT
▪ By comparing the way the schedule is progressing versus the baseline ▪ In a large project, and even some smaller projects, managing human
schedule, the project manager can see trends and make course resources over the course of the project is important.
corrections before things get out of hand.
▪ People do all the work on the project, whether they are under the project
PROJECT COST MANAGEMENT manager’s direct control or not.

▪ The project manager addresses how is the project doing against the Organizational Planning
budget.
▪ Depending on the size of the project, the project manager probably may
▪ The manager is always asked to report on how much money was spent have to develop an organization chart the at shows who reports to whom
to complete the project. and the teams or groups that sit in across the project.
Financial Issues Outside of Control ▪ A chart certainly helps clarify reporting relationships, and to have some
visions of the span of control that the different team leaders have to
▪ Sometimes, the project manager cannot control all the factors that contend with.
influence his project.
Staff Acquisition
▪ He should build contingency fund into budget, but should be careful that
money is burned up too quickly. ▪ Getting the people needed is always a challenge- as is keeping them for
the duration of the long project.
Competing Funds with Other Projects
▪ Aside form knowing the types of people needed, it is also important how
▪ Most companies have a limited amount of funds to invest in projects and they are acquired.
other investments, such as new equipment. ▪ One should be familiar with the procurement policies and procedures
▪ A project manager is always in competition with these other initiatives for within the company.
money.
Making Them a Team
PROJECT QUALITY MANAGEMENT
▪ Finally, as part of the human resource management for the project, the
▪ Quality is a key component in any project. Projects are completed but project manager needs to mold this group of people into team.
some results are disappointing because the quality of the product or
service was poor. PROJECT COMMUNICATIONS MANAGEMENT
The Processes for Quality in a Project: ▪ Communication is a key success factor in all projects.
▪ Determining what the quality objectives need to be and how they can be ▪ One can predict how successful a project will be by assessing how well
achieved. the project team members communicate with each other and
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how well the product managers communicates with key stakeholders. LESSON 6: PROJECT INTEGRATION MANAGEMENT
▪ If a strong communication is evident, one can be sure that success will
follow, and poor communication almost always leads to a failed project. PROJECT INTEGRATION
MANAGEMENT
PROJECT RISK MANAGEMENT
▪Includes the processes and activities to identify, define, combine, unify, and
▪ Many people think project management is all about managing risks, and coordinate the various processes and project management activities within
risk management is one of the key areas of focus for a project manager. the Project Management Process Groups.
▪ While the project manager can never control everything around the ▪In project management context, integration includes characteristics of
project, using a strong project management methodology helps him unification, consolidation, communication, and interrelationship.
manage risks effectively.
▪ In handling risks, one must think about what nay go wrong during a project PROJECT INTEGRATION MANAGEMENT
and develop a strategy to either prevent it from happening at all or reduce • 1. Resource Allocation
the negative impact on the project if is does happen. • 2. Balancing competing demands
PROJECT PROCUREMENT MANAGEMENT • 3. Examining alternative approaches and find best course
• 4. Customize the processes in order to meet project objectives
▪ Almost all projects need to buy goods or services from outside the • 5. Managing interdependence among project management knowledge
company. areas
▪ This involves negotiating contracts and payments schedule and can
potentially involved locations around the world. PROJECT INTEGRATION MANAGEMENT PROCESSES
▪ Debates will always arise whether it is cheaper to make or buy a product 1. Develop Project Charter
and whether to use an inside source for a service to go outside to get it. - The process of developing a document that formally authorizes the
▪ As the project is planned, the project manager may want to do a existence of a project and provides the project manager with the authority to
costbenefit analysis of the options available to him and decide which one apply organizational resources to project activities.
makes sense in the light of his budget and schedule. - The key benefits of this process are that it provides a direct link
between the project and strategic objectives of the organization, creates a
PROJECT STAKEHOLDER ENGAGEMENT
formal record of the project, and shows the organizational commitment to
▪ This is an extremely important part of the project management. the project.
Identifying and managing the stakeholders - This process is performed once or at predetermined points in the
is paramount to success. project.
▪ Only if key stakeholders are satisfied with the deliverables produces by
the project can the project be declared a success. 2. Develop Project Management Plan
▪ Managing stakeholders’ expectations is more than communications – it - The process of defining, preparing, and coordinating all plan
includes meetings, handling problems effectively and leadership skills to components and consolidating them into an integrated project
engage stakeholders. management plan.
- The key benefit of this process is the production of a comprehensive
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document that defines the basis of all project work and how the work will be - This process reviews all requests forchanges to project documents
performed. Deliverables or the project management plan and determines the resolution
- This project is performed once or at predetermined points in the project. of the change requests.
- This process is performed throughout the project.
3. Direct and Manage Project Work - The key benefit of this process is that it allows for document changes
- The process of leading and performing the work defined in the project within the project to be considered in an integrated manner while addressing
management plan and implementing approved changes to achieve the overall project risk, which often arises from changes made without
project's objectives. consideration of the overall project objectives or plans.
- The key benefit of this process is that it provides overall management of
the project work and deliverables, thus improving the probability of project 7. Close Project or Phase
success. - The process of finalizing all activities for the project, phase, or contract
- This process is performed throughout the project. - The key benefits of this process are the project or phase information is
archived, the planned work is completed, and organizational team resources
4. Manage Project Knowledge are released to pursue new endeavors.
- The process of using existing knowledge and creating new knowledge - This process is performed once or at predetermined points in the
to achieve the project's objectives and contribute to project.
organizational learning.
- The key benefits of this process are that prior organizational knowledge
is leverage to produce or improved the project outcomes, and knowledge
created by the project is available to support organizational operations
and future projects or phases.
- This process is performed throughout the project.

5. Monitor and Control Project Work

- The process of tracking, reviewing, and reporting overall progress to
meet the performance objectives defined in the project management plan.
- The key benefits of this process are that it allows stakeholders to
understand the current state of the project, to recognize the action taken to
address any performance issues, and to have visibility into the future
project status with cost and schedule forecasts.
- This process is performed throughout the year.

6. Perform Integrated Change Control

- The process of reviewing all change requests; approving changes and
managing to deliverables, organizational process assets, project documents,
and the project management plan; and communicating the decisions