Project management overview
- 1. SMARTLOGIC.NFO Code of Ethics , Fundamental Terms and Concepts, PMI Process Framework Based on PMBOK 6th
- 2. Code of Ethics The following four values are mentioned in the Code of Ethics and Professional Conduct guide of PMI: • Responsibility • to uphold laws, rules, regulations, and policies • Responsibility to report illegal conduct • Respect • For other customs, other opinions, other people • Polite behaviour, no matter what • Fairness • No Conflict or interest, real or potential • No prejudice • No favouritism, bribery, nepotism • Openness, and integrity in making decisions • Impartiality (keadilan) • Equal opportunity • Honesty • Understand the truth • Always tell the truth (especially when it hurts) • Communicate openly (especially when it hurts) • Act in good faith • Encourage others to tell the truth • Never lie or deceive in any way
- 3. Fundamental Terms and Concepts • Process: a Package of inputs, tools, and outputs used together to perform something valuable and necessary for the project (note: There are 49 Processes) • Project: a time limited undertaking to deliver UNIQUE product, service, outcome: • Time Limited : this is temporary (have a Start Date and End Date) and will not go on indefinitely • Unique means this has never been done by performing organization Project Example: New Movie project • Program: a group of related projects, managed together, usually to realize some common efficiencies • Program often include ongoing operations, which individual project do not have • Portfolio: a group of projects, programs, sub portfolios, operations intended to achieve a business result • A portfolio usually refers to all the programs and projects (investments) in an organization • Operation: Series of tasks or function which are ongoing or REPETITIVE • OPM (Organizational Project Management): a framework where project, program, and portfolio are integrated together to achieve strategic business objectives of the organization. OPM purpose to make sure right projects are selected and right resources are assigned accordingly.
- 4. Fundamental Terms and Concepts (cont’d) • Process Phases: a project progresses, stakeholders ability to influence the project decreases. Risk of failure also decreases (cost will usually rise up to a point and then decline. • Phase to Phase Relationships: • Sequential relationships: a phase starts only when previous phase is complete. It reduces uncertainty but may eliminate options for reducing the overall schedule • Overlapping relationships: a phase start prior to the completion of previous one. It may require additional resource, and may increase risk and can result in rework • Kill Point / Exit Gate / phase review / stage gate / phase entrance / phase exit: project go through phase-end reviews • If the project should continue • It should progress to next phase • Progressive Elaboration: Project Details will often be revisited and refined • Indicates that everything is not known up front, and that processes, assumptions, requirements, and decisions are reviewed and adjusted throughout the life of the project • Project Management: the use of knowledge, skills, and resources to accomplish the requirements of the projects • Historical Information: in particular, records that have been kept on prior projects • Baseline: The original Plan plus ALL approved Changes • The current plan by which Project Performance is measured in term of scope, schedule, cost
- 5. Fundamental Terms and Concepts (cont’d) • Lesson Learned: What you would have done differently to avoid variances between what was planned to happen and what actually happened in a project or phase • Project Life Cycle : The flow from phase to phase from the beginning to the end of a project. Project Life Cycle can be Predictive or Adaptive • Work Authorization System: a system to ensure that project work gets performed at the right time in the correct sequence • Work Performance Data: the RAW observations and measurements identified during activities performed to carry out the project work. Example: Start / Finish Date of activity, number of change requests • Work performance Information: Physical or electronic representation of work performance information. Example: Status reports, Memo, dashboards, etc • Triple Constraints: Time, Cost, Scope (Chain in one constraint will affect at least one other constraint • Project Business Case: A document that will have the feasibility study to prove the validity of the benefits laid out in the benefits management plan. It include: business needs, strategies, goals, objectives, gap analysis, success criteria • Project Benefit Management Plan: This document is about benefits. How and When these benefits will be delivered, how to measure the benefits etc. it will include: Target Benefits, Strategic Alignment, Timeframe, Owner, Metrics, Assumptions and Risks • Project triggers : Market Demand, Customer Request, Legal Requirement, Social Need, Organizational Need, Technological Advice, Ecological Impacts
- 6. Fundamental Terms and Concepts (cont’d) • Types of Project Life Cycle: • Predictive Life Cycle: a WATERFALL model where project scope, cost, or time are determined in early phase of the project • Iterative Life Cycle: SCOPE is determined in the EARLY phases. However, time and cost are constantly updated as the project progresses • Incremental Life Cycle: as more and more functionality is determined, the project goes through series of iterations. After final iterations, the project will be considered as complete • Adaptive Life Cycle: Agile process where the scope is well defined before each iteration • Hybrid Life Cycle: Predictive + Adaptive. Fixed requirements follow predictive life cycle and evolving requirements follow adaptive cycle
- 7. Fundamental Terms and Concepts (cont’d) • Project Selection / Benefit Measurement Methods • Part of benefit measurement plan: Financial measures between projects may be used to make relative comparisons to support project selection decisions Bigger is Better Smaller is Better Benefit Cost Ratio (BCR) Cost Benefit Ratio (CBR) Economy Value Add (EVA) Payback Period Present Value (PV) and Net Present Value (NPV) Opportunity Cost : Cost of Lost opportunity, missing the benefit of the project not selected Internal Rate of Return (IRR) Return of Investment (ROI) Return of Invested Capital (ROIC)
- 8. Project Management Process Group & Knowledge Area Mapping
- 9. The Environment in Which Projects Operate Process group: Process group are not performed in a serial, end to end. They are not the same as project phases • EEF : Anything that affects your project which is not under the control of project team. • EEF Internal: Org Culture, Infrastructure, IT Software, Resource Availabilty • EEF External: Market Place Condition, Legal Restrictions, Financial consideration (i.e. currency exchange rate, tariffs) • OPA: Anything that helps you which is specific to organization • Process, policies, procedures • Organizational Knowledge Repositories
- 10. The Environment in Which Projects Operate (cont’d) Organization systems: Projects operate within constrains imposed by the organization Organization Type Workgroup arranged by PM’s authority PM’s Role Resource Availability Who Manage Project Budget Project Management Administrative Staff Organic / Simple Flexible : People working side by side Little to None Part Time / like coordinator Little to None Owner or Operator Little to None Functional / Centralized Job being done (e.g. engineering, manufacturing) Little to None Part Time / like coordinator Little to None Functional Mgr Part-Time Multi-divisional (may replicate functions for each division with little centralization) One of : Product: production processes; portfolio; program; geographic region; customer type Little to None Part Time / like coordinator Little to None Functional Mgr Part-Time Matrix – Strong By job function, with PM as function Moderate to High Full time Moderate to High PM Full-Time Matrix – Weak Job Function Low Part Time / like coordinator Low Functional Mgr Part-Time Matrix – Balanced Job Function Low to Moderate Part Time / like coordinator Low to Moderate Mixed Part-Time Project-Oriented (composite, hybrid) Project High to almost total Full time High to almost total PM Full-Time Virtual Network Structure with nodes at points of contact with other people Low to Moderate Full-Time or Part-Time Low to Moderate Mixed Could be Full Time or Part Time Hybrid Mix of other types Mixed Mixed Mixed Mixed Mixed PMO Mix of other types High to almost total Full time High to almost total PM Full-Time
- 11. PMO (Project Management Office)