Project Management Framework
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The document provides an overview of project management frameworks and concepts. It discusses the growing demand for project management skills and the project management body of knowledge. It also summarizes key project phases like initiation, planning, execution, monitoring and control, and closing. Additionally, it outlines several project management tools and techniques such as work breakdown structures, Gantt and PERT charts, critical path method, and organizational project management maturity models. Finally, it briefly discusses Agile project management trends and PMI certifications.
Project Management Framework
- 2. Demand for effective project management Global demand for project management talent is rising faster than supply Keeping the pipeline filled will be challenging
- 3. Understanding of the project environment What is PM Body of Knowledge ? Application area Knowledge, standards & regulations General Mgmt Knowledge & Practice Project Manager Body of Knowledge Interpersonal Skills
- 5. Comparison
- 6. Project Life Cycle Phases Initiate Plan Executive Control Close Milestones at every critical stage or logical completion stage of the Project
- 7. Overlap of Process Groups Execution Control Time Effort Planning Initiation Closing Product Start Product Finish
- 8. Project Processes Closure Processes Initiation Processes Controlling Processes Executing Processes Planning Processes
- 9. Project Process Groups Initiating Closing Initiating Project Phase (Design) Project Phase (Feasibility) Plan Do Planning Executing Monitoring & Control Monitoring & Control Act Check
- 10. PMBOK Knowledge areas Framework Cost Management Quality Management Communication Management Time Management Scope Management Human Resource Management Procurement Management Risk Management Integration Management
- 13. Planning Process: Risk Analysis Draw a Risk Table to Summarize Wonderful Management Tool/Report Prob. Impact High Medium Low Low Medium High 2. Time estimate and funds inadequate for the scope of this project; may be late and over budget. 3. Lack of skilled staff, organization slow to hire adequate staff; may delay implementation. 1. Lack of commitment. Headquarters may have to assume more responsibility; will result in project delay, cost overruns. 6. Cannot get office space for staff; may cause communication problems, delaying the execution phase. 5. Expecting major scope changes from clients; may cause delay and cost escalation. 4. Not enough time spent planning, lack of understanding of problem; may take longer/ cost more than anticipated.
- 14. Projects Artifacts: WBS - Typical Tasks Detailed WBS Example for procuring an Equipment System
- 15. Projects Artifacts: Costed WBS Use Software to roll costs up the WBS ID Task Name Account Fixed Cost Total Cost Payment 36 Final Submission $0.00 $33,000.00 $0.00 37 Final Design Work C14 $5,000.00 $25,000.00 $0.00 38 Final Plan C14 $0.00 $8,000.00 $0.00 39 TB Submission $0.00 $0.00 $0.00 40 EPA $0.00 $0.00 $40,000.00 41 Software (Subcontract 50-B) $0.00 $133,000.00 $0.00 42 SW Design $12,000.00 $62,000.00 $0.00 43 Do Prelim SW design S21 $0.00 $20,000.00 $0.00 44 PDR $0.00 $0.00 $0.00 45 Do Final SW design S22 $0.00 $30,000.00 $0.00 46 CDR $0.00 $0.00 $70,000.00 47 SW Construction $12,000.00 $71,000.00 $0.00 48 Code CSC A S31 $0.00 $6,000.00 $0.00 49 Code CSC B S31 $0.00 $8,000.00 $0.00 50 Integrate&Tst CSCI 1 S32 $0.00 $20,000.00 $0.00
- 17. Monitoring & Controlling Process Group
- 19. Tools: Gantt Chart Gantt with Resource Histogram
- 20. Tools: PERT Chart Ordering the Activities: PERT Chart Arrow Diagramming Method (ADM) 1 2 3 4 5 6 A C E B D F G 7d 3d 4d 6d 3d 10d 5d
- 21. Tools: Critical Path Method (CPM) • The critical path are the tasks that have the longest path. • Tasks are performed in parallel or one task is completed before the next one can begin. • This graph shows why if one task is not completed on time can impact or cause delays to the schedule. Could cause a major problem to the outcome of the project.
- 22. Tools: Critical Path Method (CPM) This diagram shows six tasks in the project schedule. Tasks A, C, and F are on the critical path, which means if one of these tasks takes longer than expected, the project will not meet the deadline. Start Finish A B C D E F wk1 wk2 wk3 wk4 wk5 wk6 wk7 A B C D E F
- 23. Tools: Critical Path Method (CPM) This diagram shows how Task A took longer than expected, which affected when Tasks C & F could start and added 1.5 weeks to the original schedule. Start Finish A B C D E F wk1 wk2 wk3 wk4 wk5 wk6 wk7 A B C D E F
- 24. Organizational Project Management Maturity Model • Organizational Project Management Maturity Model (OPM3®) helps organizations understand their project management processes, ensures that their projects are tied to the organization's larger strategy, and measures and guides their capabilities for improvement.
- 25. OPM3 Elements
- 26. Best Practices: What the Winners Do* • Recent research findings show that companies that excel in project delivery capability: – Build an integrated project management toolbox (use standard/advanced PM tools, lots of templates) – Grow competent project leaders, emphasizing business and soft skills – Develop streamlined, consistent project delivery processes – Install a sound but comprehensive set of project performance metrics *Milosevic, Dragan, Portland State University, “Delivering Projects: What the Winners Do,” PMI Conference Proceedings, November 2001
- 27. Findings From 5-Year Study on Quantifying the Value of PM* 1. Companies with more mature project management practices have better project performance (on time and budget vs. 40% over time and 20% over cost targets) 2. Project management maturity is strongly correlated with more predictable project schedule and cost performance (i.e. .08 schedule performance index variation vs. .16) 3. Good project management companies have lower direct costs than poor project management companies (6-7% vs. 11-20%) *Ibbs, William and Justin Reginato, Quantifying the Value of Project Management (2002)
- 28. PM ROI Example* • Company initially has PMM of 2.3, CPI of .71, profit margin of 5% , $10 M projected annual revenues • Company improves PMM to 3.1, CPI to .94, profit margin to 6.6% at a cost of $400,000 • PM ROI = (6.6%-5.0%)X$10,000,000 = 40% $400,000 *Ibbs, William, “Managing Chaotic Projects: Improving your PM/ROI” http://www.ce.berkeley.edu/pmroi/PMROI%20PMI%20Presentation%20Feb2001.pdf
- 29. Trends in Agile Project Management Scrum 1996 DSDM 1994 XP 1996 & others Lean (Kanban) Software 2002 Agile Alliance formed 2000 Scrum/XP transition strengthe ns IT industry becomes Agile, then business Scrum gains worldwide prominenc e
- 30. Communities of Practice (COP) Agile Ethics in Project Management Global Diversity Leadership in PM Organizational Project Management Project Risk Management Service and Outsourcing Troubled Projects Earned Value Management E-Business Financial Services Industry Global Sustainability Human Resource Project Management Information Systems International Development New Practitioners PMI Legal Project Management Program Management Office Project Management Quality PM Marketing and Sales Scheduling Innovation and New Product Development Learning Education and Development (LEAD)
- 31. PMI Certifications • CAPM • PMP • PgMP • PMI-ACP • RMP • SMP
- 32. Certified Associate in Project Management (CAPM) • For a person holding a minimum of a high school diploma, associate's degree or the global equivalent AND • Work Experience : Minimum of 1500 hours of team project management experience OR • Formal Education : Minimum 23 contact hours of project management education. • Fees: • PMI member $225 • Nonmember $300 • Validity: 5 years • 135 questions, 3 hours
- 34. Contact Information • Web site: www.pmipunechapter.org • Yahoo Group membership: 8500+ Join us at http://finance.groups.yahoo.com/group/pmi-pune-chapter • PMP / CAPM Discussion Forum http://finance.groups.yahoo.com/group/PMI_Pune_Exam_Forum/ • Seminar abstract to : [email protected] • Newsletter Articles / Advt. to: [email protected] • For PMP Workshop send mail to [email protected] ( +91 9922909060
- 35. Thank You www.pmi.org www.pmi.org.in