BEST PRACTICE PROJECT MANAGEMENT

The Project Management Framework used within Portfolio Management Solutions and Services (PMSS) can be considered a Best Practice Project Management Methodology because it is aligned with the Project Management Institutes (PMI) Project Management Body Of Knowledge (PMBOK) which is a universally accepted and followed project management best practice standard. As such the PM Framework used within the PMSS PMO could be easily aligned with any other Best Practice project management methodology on the market. This alignment is explained in detail in the table below.

What is PMI and the PMBOK?

The PMI is arguably the worlds foremost advocate for the project management profession and practice. It is represented by more that 200,000 members across 156 countries worldwide. PMI professionals come from virtually every major industry including, aerospace, automotive, business management, construction, engineering, financial services, information technology, pharmaceuticals, healthcare, and telecommunications. The Project Management Body Of Knowledge (PMBOK) is a collection of processes and knowledge areas within the practice of project management created and updated continuously by a collective board of PMI professionals. It is a recognised international standard (IEEE Std 1490-1998) and includes 5 basic project management processes, namely; Initiation, Planning, Executing, Controlling and Closing.

How is the PMO PM Framework Aligned with the PMBOK?

By creating the PMO PM Framework Stages in parallel with the Phases within the PMBOK, we have been able to achieve a close alignment with the PMBOK. However whereas the PMBOK gives direction on what it is that needs to be done, the PMO PM Framework concentrates on how it has to be done. For each core process in the PMBOK, the PMO PM Framework has an equivalent process. The table below illustrates this alignment in detail. It furthermore highlights areas that are included in the PMO PM Framework that are not as yet included in the PMBOK.

Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK

PM FRAMEWORK

PROJECT INITIATION PROCESSES

Develop Preliminary Project Scope Statement Develop Project Charter Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Define Overall Project Scope Develop Project Scope Of Work Identify and Engage Key Stakeholders Define the Business Need/Opportunity Identify the Business Benefits Define Project Objectives Ensure Alignment With Strategic Direction and Architecture Identify Key Potential Business Risks Determine costs and Schedule Estimates

PROJECT PLANNING PROCESSES

Develop Project Management Plan Scope Planning
PROJECT MANAGEMENT OFFICE

Develop Project Plan Refine Project Scope

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Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK
Scope Definition Create WBS Activity Definition Activity Sequencing Activity Resource Estimating Activity Duration Estimating Schedule Development Cost Estimating Cost Budgeting Quality Planning Human Resource Planning Communications Planning Risk Management Planning Risk Identification Qualitative Risk Analysis Quantitative Risk Analysis Risk Response Planning Plan Purchases and Acquisitions
PROJECT MANAGEMENT OFFICE

PM FRAMEWORK
Refine Project Scope Refine Project Schedule Refine Project Schedule Refine Project Schedule Refine Project Schedule Refine Project Schedule Refine Project Schedule Refine Project Cost and Budget Refine Project Cost and Budget Develop Project Quality Management Approach Define Project Organisation and Governance Develop Project Communication Approach Identify Potential Risks Identify Potential Risks Identify Potential Risks Identify Potential Risks Identify Potential Risks Determine Procurement and Sourcing Strategy
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Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK
Plan Contracting Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Not in PMBOK Develop Project Charter (in Initiation Phase)

PM FRAMEWORK
Determine Procurement and Sourcing Strategy Identify Project Constraints and Assumptions Identify Other Resource Requirements Establish Project Life Cycle Checkpoints Determine Process for Issue Identification and Resolution Determine the Process for dealing with Scope Change Develop the Organisational Change Approach Develop Configuration Management Approach Develop Business Case Definition

PROJECT MANAGEMENT OFFICE

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Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK

PM FRAMEWORK

PROJECT EXECUTING, MONITORING AND CONTROLLING PROCESSES

Direct and Manage Project Execution Perform Quality Assurance Acquire Project Team Develop Project Team Information Distribution Request Seller Responses Select Sellers Monitor and Control Project Work Integrated Change Control Scope Verification Scope Control Schedule Control Cost Control
PROJECT MANAGEMENT OFFICE

Project Specific Deliverables and Document Work Results Manage Quality Manage Schedule Manage Schedule Communicate Information Execute Procurement Plan Execute Procurement Plan Manage Schedule Manage Scope Manage Scope Manage Scope Manage Schedule Manage Costs
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Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK
Perform Quality Control Manage Project Team Performance Reporting Manage Stakeholders Risk Monitoring and Control Contract Administration Not in PMBOK Not in PMBOK Not in PMBOK

PM FRAMEWORK
Manage Quality Manage Schedule Status Review Meetings and Review Project Life Cycle Checkpoints Communicate Information Manage Risks Administer Contractor/Vendor Manage Organisational Change Manage Issues Update Project Planning Documentation

PROJECT CLOSING PROCESSES

Close Project Contract Closure Not in PMBOK Not in PMBOK
PROJECT MANAGEMENT OFFICE

Conduct Outcomes Assessment Conduct Final Contract Reviews Conduct Final System Acceptance Meeting Conduct Knowledge Transfer
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Portfolio Management Solutions and Services

Best Practice Project Management

Revision 1.0 14-03-2006

PMBOK

PM FRAMEWORK

PROJECT MANAGEMENT OFFICE

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