Project Versus Ongoing Operations

 Projects are created to produce specific deliverables. These deliverables are

the tangible outcomes or results that are expected from the project. They can

include things like reports, software applications, physical products, or completed

services.

 Ongoing operations seek to achieve long-term goals as they execute

against the strategy and mission of the company. These operations require a

dedicated team that is continuously supported and empowered by the

organization. By providing ongoing authorization, staffing, and funding, the team

can focus on executing their tasks without unnecessary disruptions.

Digital Versus Analog

 Traditional mass production organizations were analog, function-centric,

limited in their ability to manage multiple product lines, and rigid. They often

lacked the flexibility to adapt to changing market demands and were slow to

innovate.

 Project management utilizes a digital approach that enhances efficiency and

collaboration among team members, resulting in improved productivity and timely

completion of tasks. Additionally, it provides real-time visibility into project

progress, allowing for effective monitoring and adjustment of plans as needed.

The Five Process Groups

 The Project Management Body of Knowledge outlines five process groups:

initiation, planning, executing, monitoring and controlling, and controlling.

 These phases are not sequential, but they are essential to the life cycle of a

project. In these processes, the critical path method and the work breakdown

structure can be utilized.

Knowledge Areas in Project Management

 Knowledge areas in project management are essential aspects that project

managers must monitor in order to successfully plan, schedule, track, and deliver

projects with the support of their teams and stakeholders. These aspects of the

project are managed consistently across all five stages of the project life cycle.

Thus, the following are the ten knowledge areas of project management:

 Project Integration Management

 Project Scope Management

 Project Time Management

 Project Cost Management

 Project Quality Management

 Project Human Resource Management

 Project Communications Management

 Project Risk Management

 Project Procurement Management

 Project Stakeholder Management