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Defining a project Defining a program Defining a portfolio Understanding the scope triangle Managing the creeps The importance of classifying projects
Program 2
Project E
Project A Project D
Project B
A portfolio is a collection of projects that share some common link to one another.
For example, Same business unit New product development projects R & D projects Maintenance projects Process improvement projects Staffed from the same resource pool Same budget
Resource Availability
Figure 01-01
Figure 1-2
Scope Creep (change in the project that was not in the original plan) Hope Creep (when a project team member falls behind schedule but
reports that he or she is on schedule)
To adopt a one size fits all approach to every project is just asking for trouble. Your approach to managing any project must adapt to the characteristics of the project. A classification rule can help you choose that approach
Risk (high, medium, and low). Business Value (high, medium, and low). Duration (such as 3 months, 3 to 6 months, 6 to 12 months, and so on). Complexity (high, medium, and low). Technology used (well-established, used occasionally, used rarely, never used). Number of departments affected (such as one, a few, several, and all). Cost
Type A
High
Breakthrough
Certain
Type B
Medium
Current
Likely
Type C
3-9 months
Low
Low
Best of Breed
Unlikely
Type D
<3 months
Practical
Few
Table 1-1
Installing software Recruiting and hiring Setting up a hardware system in a field office Soliciting, evaluating, and selecting vendors Updating a corporate procedure Developing application systems
Figure 1-3