PMI® Authorized Certified Associate in

Project Management (CAPM)®

Exam Prep Course

Projects and
Project
Management
Understanding the Profession

©2023 Project Management Institute, Inc. All rights reserved.

This material is being provided as part of a PMI® Workshop.
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In This
Session:
• What Is a Project?

• Understanding Project Management

• Benefits of Project Management

• Projects vs. Operational Work Programs

021 and Portfolios

• Project Management Process Groups

• Project Management Challenges

©2023 Project Management Institute, Inc. All rights reserved.

This material is being provided as part of a PMI® Workshop.
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Do I Already Know That?

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What Is a Project?

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What Is a
Project? A temporary endeavor undertaken to create a
unique product, service, or result.

Lexicon of terms | Project

Management Institute. (n.d.).
Retrieved from
https://www.pmi.org/pmbok-guide-
standards/lexicon

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Breaking Down the
Definition:
Project

An endeavor something that delivers

value, as a product, service or change.

A temporary undertaking has a beginning

and an end.

We can assume the bridge is unique and

did not exist previously.
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What Is
Project The application of knowledge, skills, tools, and
Management?
techniques to project activities to meet the
project requirements.

Lexicon of terms | Project

Management Institute. (n.d.).
Retrieved from
https://www.pmi.org/pmbok-guide-
standards/lexicon

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Breaking
Down the The application of knowledge, skills, tools, and techniques
Definition: to project activities to meet project requirements
Project
Management

Guiding the project work to deliver

the intended outcomes

Broad range of approaches

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Benefits of
Project Improving the chance of project success and delivering the
Management expected benefits for the project

Increasing satisfaction for all stakeholders

Completing projects on schedule, within budget, and with

acceptable quality

Using company talent and resources optimally

Enabling customer focus and introducing quality focus

Reducing the risk of unexpected events and project failure

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What’s the Difference Between
Projects and Operational Work?

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What Is an
Operation? The ongoing execution of activities that follow an
organization’s procedures to produce the same result or
a repetitive service; operations are permanent in nature.

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Consider a Bakery

Baking bread is an ongoing, repetitive

process that occurs day after day, with no
distinct beginning or end.

That makes it operational work.

What would the bakery consider a project?

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Project, Attribute Projects Project Based Operations
Operation, and Operations
Time A beginning and A specific beginning Ongoing and repetitive
Project-Based an end and end for each

Operation product or service

and repetitive cycles
Outcome Unique product A familiar product or A familiar product or
or service service with a unique service
set of features
(customization)
People and Temporary A temporal task Permanent
resources executed by
Project Operations permanent resources
Authority Project Project manager, who Functional manager with
manager, with is responsible for formal and direct
authority varying customized tasks authority over people and
from weak to Functional manager, processes
strong who is responsible for
resources
Primary life Project life cycle Task execution based Product life cycle
cycle on customization

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There Is a Close Relationship between Operations and
Projects

Installing an oven is a Using an oven to cook

DIY project meals is operations

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What Is a
Program? Related projects, subsidiary programs, and
program activities managed in a coordinated
manner to obtain benefits not available from
managing them individually.

Lexicon of terms | Project

Management Institute. (n.d.).
Retrieved from
https://www.pmi.org/pmbok-
guide-standards/lexicon

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Is It a Project,
a Program, or
an Operation?

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Return and
Report

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What Is a
Portfolio? Projects, programs, subsidiary portfolios, and
operations managed as a group to achieve
strategic objectives

Lexicon of terms | Project

Management Institute. (n.d.).
Retrieved from
https://www.pmi.org/pmbok-
guide-standards/lexicon

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Programs and
Portfolios Portfolio A Portfolio B
“Zero Waste” “Reduce Energy
Consumption”

Program 1 Program 3
• Project 1 • Project 5
• Project 2 • Project 6

Program 2 Project 7
• Project 3
• Project 4

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What Are Process Groups?

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What Is a
Process? A process is set of interrelated actions and activities
performed to create a pre-specified product, service
or result. The project management processes
ensure the effective flow of the project throughout
its life cycle.

A Guide to the Project

Management Body of
Knowledge (PMBOK® Guide)
– Seventh Edition

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Process Groups

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Initiating Process Group

Initiating

Initiating processes are performed to define a new project or a new

phase of an existing project by obtaining authorization to start the
project or phase.

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Planning Process Group

Initiating Planning

Planning processes are required to establish the scope of a project,

refine the objectives, and define the course of action required to
attain the objectives that the project was undertaken to achieve.

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Executing Process Group

Initiating Planning Executing

Executing processes are performed to complete the work defined in

the project management plan to satisfy the project requirements.

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Monitoring and Controlling Process Group

Initiating Planning Executing Monitoring &

Controlling

Monitoring and controlling processes are required to track, review,

and regulate the progress and performance of a project; identify any
areas in which changes to the plan are required; and initiate the
appropriate changes.

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Closing Process Group

Initiating Planning Executing Monitoring & Closing

Controlling

Closing processes are performed to formally complete or close a

project, phase, or contract.

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Fallout From
the Fastone
Ticket Scandal This failure has garnered major worldwide attention.

The attention has not been great.

The hashtag #Tickets!Fail has been trending.

There’s even talk of a boycott of Tickets! Venues.

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Sorting Tasks
by Process
Group Your team has generated a list of five critical tasks:

• Figure out the scope of the project.

• Define the activities necessary to complete the project.

• Direct and manage efforts as the project proceeds.

• Make sure quality is up to standards.

• Close the project when it’s done.

Your team needs to figure out which Process Group each

8 task belongs to.

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Return and
Report

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What Project Management
Challenges Will You Face?

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Well-Done
Projects Don’t
Just Happen

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Project
Management
Challenges

Issues Risks

Assumptions Constraints
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Risks
What Are They?

Risks is an uncertain events or conditions, that, if it occurs has an

impact (positive or negative) on one or more project objectives.

How Do You Deal with Them?

Risks are evaluated for impact, severity, and possible advance

notice to help prioritize them so that the project manager can
plan around risks in advance.

The documentation about possible risks is kept in a risk register

so that it is always available for the project team to review.

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Issues
What Are They?

Issues are conditions or situations that may have an impact on

the project objectives.

How Do You Deal with Them?

Issue Log
The project manager maintains a list of all issues that have been
raised, called an “issue log.”

The issue log captures information about a question or discovery,

who first raised it, who will research it, what impact it might have
on the project, and by when the next update and/or
resolution/recommendation is expected.

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Assumptions
What Are They?

Facts about a project or its requirements that define special

conditions around which the project must be planned and
executed.

How Do You Deal with Them?

Assumptions create a set of operating conditions for the project

that need to be built into the planning, budgeting, and execution
steps.

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Constraints
What Are They?

Constraints are best thought of as project boundaries or limits on

time, cost, or scope.

Constraints may shift and change, so a project manager must

balance competing constraints throughout a project.

Balancing these shifting constraints is an ongoing project

activity.

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Consider: The Impact of Project Risk

Risks have the potential to create both uncertain negative and positive events or
conditions on a project.

Yes No
That’s correct. Risks have the potential to Unfortunately, that’s incorrect. Risks can
create uncertain negative and positive create both negative and positive conditions
conditions (known as opportunities) on a on projects. It’s important that your team
project understand all the potential risks and put a
robust risk management process in place.

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Wrapping Up

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Summary

• What Is a Project?

• Understanding Project Management

• Creating Value Through Project Management

• Projects vs. Operational Work Programs and Portfolios

• Project Management Process Groups

• Project Management Challenges

©2023 Project Management Institute, Inc. All rights reserved.

This material is being provided as part of a PMI® Workshop.
40
Up Next:
Organizing for Project
Performance

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