Project+ Chapters 1 & 2 Summary

1.1 Explain the requirements to complete a pre-project setup 1. Identify the Project a. A project is temporary endeavor that has definite beginning and ending dates, and it results in a unique product, service or result. A project has to fit the following criteria: i. Unique ii. Temporary iii. Resources and Quality iv. Stakeholder Satisfaction 2. Validate the Project a. Involves two steps: Preparing Business Case and Identifying and analyzing the project stakeholders. The first step in validating a project is preparing and validating the business case. Seven needs to create a project: i. Market demand ii. Strategic opportunity/Business Need iii. Customer Request iv. Technological advance v. Legal requirement vi. Ecological impact vii. Social need 3. Prepare a Project Charter a. The Project Charter is a document that provides formal approval for the project to begin and authorizes the project manager to apply resources to the project. b. A project Charter should include: i. Project Goals and ix. High-level constraints objectives x. High-level risks ii. Project description xi. General project iii. Problem Statement approach iv. Key project deliverables xii. Name of the project v. High-level milestones manager and their vi. High-level cost authority level estimates xiii. Name of the sponsor vii. Stakeholders xiv. Other contents viii. High-level assumptions 4. Obtain Approval for Project Charter a. The project sponsor should sign the project charter. The sign-off provides the project manager with the authority to move forward, and it serves as the official notification of the start of the project. b. This approval is usually required prior to the release of purchase orders or the commitment by functional managers to provide resources to support the project.

1.2 Identify the Characteristics of a Project

1. Temporary Endeavor: Projects have definite beginning and ending dates, and it results in a unique product, service or result. 2. Delivers a unique product or service: Projects bring a product, service or result that never existed before, and meets a specific business objective (unique). 3. Constrained by time: Projects have definite start and end date, it might take from a few weeks to several years. 4. Resources and quality: One of the characteristics of a project is that it is necessary to assign resources to complete the work of the project and assure the results of the project meet the quality standards outlined in the project plan.

1.3 Summarize the steps required to validate a project

1. Validate the business case (feasibility analysis, justification for project, alignment to strategic plan) a. Feasibility Analysis: It is a formal endeavor that is undertaken to determine whether there is a compelling reason to perform the proposed project. Feasibility studies can examine the viability of the product, service or result of the project. Not all business cases will include the Feasibility Study (usually conducted in complex projects and with a high potential of risk). b. Justification: Describes the benefits to the organization for undertaking the project (including tangible and intangible) and should include the reasons for bringing about the project. c. Alignment to Strategic Plan: Should be included within the business case and it should describe how the project and its outcomes will align to the organizations overall strategic plan. 2. Identify and analyze stakeholders: a. Stakeholders are anyone who has a vested interest in the project (individuals, organizations, project sponsor and project manager). It is a component of the project charter.

1.4 Explain the components of a project charter

1. Key project deliverables a. Deliverables are measurable outcomes or results or are specific items that must be produced in order to consider the project complete. Deliverables are tangible, easily measured and verified. 2. High level milestones: a. Milestones are major events in a project that are used to measure progress. They may also mark when key deliverables are completed and approved. Milestones are also used as checkpoints during the project to determine whether the project is on time and on schedule.

3. High level cost estimates a. A high-level estimate of the projects costs is needed on the project charter. Historical information from past projects that are similar in size, scope and complexity to the current project can be used. The detailed budget is prepared later during the planning process. 4. Identify stakeholders a. It is important to have a fairly comprehensive understanding of who the stakeholders are by the time the project charter is complete. A stakeholder matrix could be included here. 5. General project approach a. This is the section of the project charter where the approach is formulated and the project team will take in bringing about the deliverables of the project. Also describes the types of project management processes youll use to manage the project. 6. Problem statement a. Answers the questions Why are we embarking on this project in the first place? What is it we hope to gain in undertaking this project? What problem are we trying to solve?. 7. High level assumptions a. Assumptions are events, actions, concepts, or ideas that the PM believes to be true. Assumptions can be made about many elements of the project, including, resource availability, funding, weather, timing of other related events, availability of vendors and so on. 8. High level constraints a. Constraints are anything that either restricts or dictates the actions of the project team. Budgets, technology, scope, quality and direct orders from upper management are all examples of constraints. 9. High level risks a. Risks are either opportunities or threats to the project. The list of risks in the project charter may cover: budget risks, scheduling risks, project management process risks, political risks, legal risks, management risks, and so on. A risk is a potential future event that could impact the project. 10. Project Objectives a. The charter documents the high-level goals and objectives of the project. This is the first communications document to explain what the project is all about. The charter should include a clear statement as to what end result the project will produce and how success will be measured. Goals and objectives must be clear and stated in such a manner that the end result is easily measured against the object.

1.5 Outline the process groups of the project lifecycle

1. Initiating / Pre-Project setup a. Includes all the activities that lead up to the final authorization to begin the project starting with the original project request. Initiation activities include: i. Identifying the project and the business need. ii. Documenting the business justification.

iii. iv. v. vi.

Performing business case validation Using the project selection methods. Documenting high-level requirements definitions. Performing a cost justification

2. Planning a. Planning is where the project goals, objectives and deliverables are refined and broken down into manageable units of work. Project managers create time and cost estimates and determine resource requirements for each activity, it also involves, communication, risks, human resources, quality and procurement. 3. Executing a. It is where the work of the project is performed. Executing process include the actual execution of the project plan, team development, quality assurance, information distribution, and more. 4. Monitoring/Controlling a. Monitoring and controlling are the activities that monitor the progress of the project to identify any variances from the project plan. It also includes request for changes to the project scope. This area is where corrective actions are taken to get the work of the project realigned to the project plan. Other areas include: scope control, cost control, schedule control, quality control, performance reporting, and risk control 5. Closing a. The purpose of the closing process is to document the formal acceptance of the project work and to hand off the completed product to the organization for ongoing maintenance and support.

1.6 Explain the different types of organizational structures

1. Functional: In this structure, the staff is organized along departmental lines and each department is managed independently with a limited span of control. This organization type is hierarchical. Projects managed along this organizational structure are worked on independently in different departments. The advantages of this organization include: a. Growth potential and career path for employees. b. The opportunity for those with unique skills to flourish. c. A clean chain of command (each staff member has one supervisor). Disadvantages of a functional organization include: a. Project managers have limited authority. b. Multiple projects compete for the same limited resources. c. Resources are generally committed part-time to projects rather than full-time. d. Issue resolution must follow the department chain of command. e. Project team members are loyal to the functional manager. 2. Weak Matrix: The Weak Matrix organization emphasizes functional work over project work and operates more like a functional hierarchy. The functional managers have the majority of power in this type of organization.

3. Matrix: This type or organizations are typically organized along departmental lines, like a functional organization, but resources assigned to a project are accountable to the project manager for all work associated with the project. Team members working on the project often have two or more supervisors, their functional manager and the PM . Characteristics of a Matrix Organization: a. Low to moderate authority for the project manager. b. A mix of full-time and part-time project resources. c. Better interdepartmental communication. 4. Strong Matrix: The Strong Matrix Organization emphasizes project work over functional duties. The Project manager has the majority of power in this type of organization. 5. Project Based: In this environment, the focus of the organization is projects, rather than functional work units. Project Managers almost always have the majority of power in this type of structure; they are responsible for acquiring and assigning resources and making decisions regarding the project. Advantages of this organization are: a. Team members are co-located, meaning they work together at the same physical location. b. Project manager has a high authority level. c. Full-time resources are assigned to the project. d. Loyalty is established with the project manager. e. Dedicated project support staff. Disadvantage: a. Reassigning project team members once the project ends. There may not always be a new project waiting for these resources.

Chapter 1

Chapter 2