A PROJECT is a temporary endeavor undertaken to create a unique product,service or result.
The temporary nature of project indicates existing of definitive begging and end.
PROJECT MANAGEMENT is the application of knowledge,skills,tools and techniques to project activities to meet the project requirements.
Project management is accomplished through application and integration of 42 project management processes,logically organized in 5 process groups.
5 PM PROCESS GROUPS are: Initiating, Planing, Executing,Monitoring and Controlling and Closing.
Because of potential to change , the project management plan is iterative and through PROGRESSIVE ELABORATION through the project's life cycle. Progressive elaboration includes continual improve and detailing a plan as more detailed and specific information and more accurate estimates become available. Progressive elaboration allows a project management team to manage a greater level of details the project evolves.
In mature Project management organizations,project management exists in a broader context of a Program management and Portfolio management
PORTFOLIO MANAGEMENT - PORTFOLIOcan be viewed as a collection of project or programs or other work grouped together to facilitate effective management of that work to meet strategic business objectives. Portfolio management focus on ensuring that projects and programs are reviewed to prioritize resource allocation, and that the management of portfolio is consistent with and aligned to organizational strategies.
PROGRAM MANAGEMENT - A program is defined as a group of related projects, managed in a coordinated way to obtain benefits and control not available from managing them individually. PROGRAMS may include elements of related work outside the scope of discrete projects in the program.
PROJECTS AND STRATEGIC PLANING - Projects, within programs or portfolios, are means of achieving organizational goals and objectives, often in a context of a strategic plan.
PROJECT MANAGEMENT OFFICE PMO is organizational body or entity assigned various responsibilities related to centralized and coordinated management of those projects under its domain. A primary function of PMO is to support project managers:
- manage shared resources across all project managed by PMO
- identify and develop methodology,best practices,standards
- coaching,mentoring,training
- project audits
- coordinating communication across all projects
PROJECT MANAGEMENT AND OPERATIONS MANAGEMENT - Projects need project management, while operations need business process management or operations management. Operations are permanent endeavors, while projects are temporary endeavors, Operations produce repetitive outputs .
THE PROJECT MANAGER is the person assigned by the performing organization to achieve the project objectives. Effective project management requires that the project manager has following: has knowledge, achieve performance and personal(personal effectnives encompasses attitudes, core personality characteristisc and leadership.
PMBOK is standard for managing most of the projects,most of the time.
ENTERPRISE ENVIRONMENTAL FACTORS may have positive or negative outcome of the project, and they include, but not limited to:
- organizational culture,structure and proccesses
- standards
- infrastructure
- HR(skills,discipline,knowledge)
- marketplace conditions
- stakeholder risk tolerancies
- political environment
- communication channels in the organisation
- PM information system
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