Project Management Tou, 6/8/2023 Project Management Institute defines project management as the use of specific knowledge, skills, tools, and techniques to deliver something of value to people. Project managers are the people who apply those tools along with the ability to lead and manage people to deliver the completed projet, thus creating value First of al, projects are unique. They fill a specific objective. It could be creating a new product or even a service. For example, I launched a formal project plan to create this course. The specific objective of my project was to ereate and launch a cours in project management. I developed a project plan, identified the curiculum, identified the assignments and put together the course schedule. I recorded videos and uploaded information, This project is unique to this course end this course ony. is important to know projects have an end date, Without an end date, we consider that operations Operations are ongoing end more permanent. Project always mean a change for the company and give increase in business. are five categories or processes for which every project manager has responsibilty, Tse are initiating the project, Planning the project, exccuting the project monitoring and controlling the project and finally closing the project frst we have project initiation 1. The role ofa project manager isto bring together people and resources, set the ditection, and ensure the success of the project. They accomplish this through five major processes: project initiation, planning, execution, monitoring and controlling, and project closure. penn comjeurab4tss 7808865Daring project initiation, the project manager defines the project scope, ensures customer and stakeholder expectations are met, understands the business environment, and develops the project's business case, Inthe planning phase, the proj identifies potential risks, anager plans activities, defines tasks, determines resources and costs, crestes project schedule, and Daring project execution, the project manager collaborates withthe team, procures resourees, sets communication protocols, and ensures the project is on tack, They monitor project performance, collect data, compate it to predetermined metties, and address any issues or tsks Closing the project involves gaining client approval, documenting the final project, writing a projectreport, reflecting on lessons learned, and sharing those lessons for Future projects These responsibilities align with the Project Management Institute's project management process groups, and each process group requires specific knowledge areas and associated tls and techniques, By understanding and effectively implementing these processes, project managers can successfully manage and deliver projects. 2, Project managers are organized, goal-oriented professionals who use passion, creativity, and collaboration to design projects that are destined for success. 3. Criteria for membership: a, Tecinial skis ina specific discipline, such as market research, finance, or software programming b, Problem- solving skills enabling individuals to analyze dificult situations or impasses and to erat solutions «Interpersonal skills, particulary the ability to collaborate effectively with others—e eitcal aspect of team-based work 4. Organizational skills, including networking, communicating well with other parts of the company, navigating the political landscape, all of which help the team get things done and avoid confiets with operating nits and their personnel 4. Three types of project Management: nd Here are the notes on three types of project management mentioned in the video Waterfall Project Management (H): Also known as Traditional or Predictive Project Management. {Focuses on developing a plan and following it throughout the project life cyele, {Best used when requirements are well known, + Involves gathering requirements, creating a design, developing the solution, testing, and deploying. ~ Emphasizes a big outcome at the end, Agile Project Management (3): = More collaborative and involves working closely with the customer Used when requirements are not well known, i tpenacomfaural2iesre7gsab os ana- Developed originally for software development projects “Involves sprints, which ate time-boxed periods for accomplishing specifi work and delivering incremental parts ofthe project, “ Terative approacl that allows for lexibility and changes along the way. Hybrid Project Management (K): = Accombined approach that is customized based on the organizations structure and culture, = Can be a combination of waterfall and agile methodologies, “Tailored to meet the specifie needs of the organization, project, and team, {Can switch between different approaches based on project phases or requirements, ~ Commonly used when there are hardware and software requirements ina project. Note: To respect the request to replace the types of project management with keys, Ihave used H, J, a and Hybrid project management, respectively. K keys to represent Waterfall, Agile, 5. Here are the notes about Gantt charts mentioned in the tex: ~ Gantt chart is the most important technique in traditional project management. “Henry Gant is considered the father of traditional project management and the ereator of the Gantt chart, A Gantt chart provides a simple overview ofa project and presents tasks and activities on a timeline, Gantt charts were initially ereated manually or using physical materials like magnetic blocks and Legos. With technological advancements, they can now be made in Excel within seconds, = The left part ofthe Gantt chart displays project activities, and the top part shows the time seal. ch activity is represented by a bar, indicating is start, duration, and end + Gantt charts provide information about project tasks, the individuals assigned to each las, task durations, task dependencies and overlaps, and project start and finish dates. = Gantt charts are commonly used to track project schedules, reduce project management stress, understand task relationships, maintain team ignment, and successfully complete projects - Benefits of Gantt charts include organizing thoughts, providing a clear layout of tasks, setting realistic time frames, and offering high Nisibility = However, for complex projets with numerous tasks, Gant chars ean bevome overwhelming and require frequent updates as the project evolves. The sizeof the bar may not accurately reflect the actual effort or resources required fora task. 6. Here are the notes about the Project Management Triangle mentioned in the txt The Project Management Triangle consists of three primary constraints: time, cost, and scope. = Scope refers to the definition of project development steps, including what will and will nt be done. It is important to carefully plan and Aefine the scope to maintain control over the project. + Time is an invaluable resource and one ofthe biggest challenges for project managers, Efficiently managing time, Keeping the project on schedule, and achieving objectives are key tasks, = Cost should be defined early inthe project, and a comparison should be made with the customer's budget. If there isa discrepancy, a business ‘proposal with accurate cost estimates can be prepared to inform the customer's decision-making, penn comjeurab4tss 7808865 aiaThe three constraints (time, east, and scope) are interconnected and depend on one another. Changes in one constr ‘example, reducing time allocation inereases costs, and the scope of the project impacts resource requirements und project pace - Maintaining balance and striving for equilibrium among the constrains is crucial, even though it can be challenging The quality ofthe projeet i represented by the area inside the triangle, and i isthe ultimate objective of project delivery + The project manager's goal isto meet customer requirements and quality standards, requiring control over both quality and the constrains. 17. Here are the notes about the Project Charter mentioned inthe text - The Project Charter is a document prepared by the project manager to justify the project and provide a high-level overviews = Intell the story ofthe project and includes information about who will be iavolved, what will be accomplished, by when, and most importantly, why the project is needed = The project charter ensures that everyone involved in the project is on the same page. = Ins the fist step in project work and is drafted by the project manager or project sponsor. = The project charter paints a picture ofthe project, stating its goals, required resources, key milestones, and deliverables. Developing the project charter is the first process in the initiating phase of the project management process groups The project charter addresses key arcas suchas justification, project objectives and deliverables, project requirements and constrains, stakeholders, eam members, and budget/inancial aspects = It i important to include the project tle, purpose/description, objectives, potential risks, milestones, required resources, stakeholders, approval requirements, and details about the project manager and project sponsor in the charter. {The project charter serves as a guide forthe project and defines what success looks like, ineluding who signs off upon project completion, An example ofa project charter is provided, bt it can vary depending on the specific projects needs and requirements 8. Project management plan, I isan instruction manual; How to guide your project. We have a baseline fort, 3 Baselines: Scope Baselines, schedule Baselines, cost Baselines. ‘Subsidiary plan (part of project management plan) taey provide additional details information/instructions about very specific project is exeeuted, monitored and controlled, and closed, cas ofa project The PMP clearly defines how the 9. - Project Management Pla - Final output derived from the Project Management process + Inludes subsidiary plans of the project = Scope Baseline: Evaluates project manager and team performance + Includes project scope statement, Work breakdown structure (WBS), and WBS dictionary = Schedule Baselin ~ Approved version of schedule model ~ Altered through formal change control procedures ~ Used for comparison with actual results penn comjeurab4tss 7808865 ans= Cost Baseline: ~ Authorized expenditure plan for the project Basis for measuring project cost performance + Scope Management Plan: Defines and maps project scope = Controls essential project scope + Requirements Management Plan: - Documents necessary information for managing project requirements - Covers definition, traceability, and delivery = Cost Management Plan: - Essential component of project life-cycle = Defines project success and progress - Quality Management Plan: = Defines eustomer-approved quality level + Ensures quality in deliverables and work processes + HR Management Plan: = Monitors human resource activities throughout the project Determines roles and responsibilities of team members = Communication Management Plan: - Facilitates communication across project levels ~ Addresses project stakeholders + Stakeholder Management Plan: = Develops management strategies for engaging stakeholders = Considers stakeholder needs, interests, and impact on project success + Risk Management Plan: Foresees risks, estimates impacts, and defines responses + Prepared by project manager - Procurement Management Plan: = Documents procurement decisions and approach + Identifies potential sellers and acquisition details + Process Improvement Plan: = Subsidiary plan of Project Managems penn comjourab4tss 7808865 plan- Examines how different circumstances affect project conditions 0, Steps to Create a Successful Project Management Plan: ‘Step 1: Know the Scope and Value of Your Project Define project strategy and methodology = Identify project outcomes, deliverables, and timeli = Determine roles and responsibilities of team members Step 2: Get to Know Your Stakeholders Understand stakeholders’ needs and impact + Incorporate peer and stakeholder reviews ~ Establish communication methods und rsk management processes Step 3: Conducting the Kick-off Meeting Gather key stakeholders to discuss project proposal Build team morale and ensure everyone's input is considered Define project vision, roles, responsibilities, and decision-making processes Step 4: Think Through Goals and Scope Define project objectives and outcomes + Deseribe the project and provide supporting evidence - Set performance measures and manage scope, schedule, and budget Step 5: Write your Complete Project Plan + Use a project planning platform to ereate a comprehensive plan Document project details, asks, and timelines ‘Step 6: Share Your Plan with the Team and Make Sure they Read It! = Communicate the project plan to the team and staksholders = Explain the process, finaness, expectations, and timelines, Encourage discussion and clarification to ensure understanding and alignment What is # Project Management Plan And Hows To Develop One? invensisleaming com) Project Seope: = Project scape is the definition of what the project team will deliver and the boundaries ofthe project. It includes whet will be dane and what won't be dane in the project, = Managing project scope is important forthe projet manager to handle stakeholder expectations and push back on outof-scope requests of justify the need for additional resources. ~The project scope statement is a documented description of the project's scope, specific deliverables, project boundaries, team responsibilities, cost estimates, and schedule estimates penn cmjeurab4h 7808865 ina- Scope management involves following a process to handle scope changes, known as scope ereep, and includes developing the work breakdown structure (WBS) and approving project deliverables. = The work breakdown structure (WBS) breaks down project elements into smaller work packages. It help identify every element ofthe project, ensures detailed deliverables, aids in project cost budgeting and timing, and assists in building project sequences and schedules. + The project scope has an impact on project cost and schedule. Changes in one area can affect the other parameters, and i's the project ‘managers responsibilty to balance these constraints, = When scope changes, it can have implications on cost and time. The project manager ‘meet a shorter deadline, which may increase project costs = Quality should not be compromised asa result of changing scope, schedule, or cost. Delivering a project that meets quality standards is important 1 0 consider options like increasing resources to 2. WBS 1¢ WBS (Work Breakdown Structure) and the project schedule are connected by mapping the WBS elements onto the project plan, 1¢ WBS elements arc transformed into action items in the project schedule. For example, an item like "radar" in the WBS would eppear as "Install radar system" in the schedule. The project schedule provides a more detailed breakdown of activities related to each WAS element, For instance, activities like designing, developing, and testing the radar system would be included inthe schedule, = The connection between the WBS and the project schedule ensures that the project plan reflects the tasks and activities necessary to accomplish the WBS elements ~The process of creating an actual WBS involves translating the projects deliverables into hierarchical levels and breaking them down into smaller, manageable components, = Communications in projest management involve using tools, techniques, and processes to determin the most effective way to communicate with each stakeholder - Key considerations in communication include identifying who needs the information, determining when they need it, understanding theit preferred communication method, assigning responsibility for communication, protecting sensitive information, and ensuring the appropriateness of the communicstion for the recipient. The project manager needs to analyze stakeholder communication needs through a process called planned stakcholder engagement, {Not al stakeholders require the same information at all times, so i's essential to determine who needs what information and when it should be provided, = Timing of communications is crucial for project success. The project manager should be aware of lead times, dependencies, and other factors that impact the timing of information exchange - I's not always the project manager's responsibility to conduct all communications. Delegation to team members is possible, and different aspects ofthe project may require communication with different stakeholders. + Global projects require consideration of time zones, prefered communication methods, language barriers, cultural differences, andthe impact ff communication choices on diverse stakeholders = Communication is a process that involves a sender (encoder), a receiver (decoder) and a channel or medium for message deliv +The sender encodes the message, choosing the appropriate format, words, and tone for effective communication + The receiver decodes the message, extracting meaning from it + Feedback from the receiver tothe sender is crucial for confirming understanding and ensuring effective communication penn comjeurab4tss 7808865 a- Noise or communication blockers, such as distractions, stress, or external factors, can hinder th + Projeet managers have formal processes, tools, and techniques to manage communications th further in the Video. rncoding or decoding of messages. oughout a project, which will be discussed. 4, Determining the Total Number of Communication Channels The formula for figuring out the number of channels is Channels =N(N- 1)/2 N= total number of people or stakeholders 5. Importance of Communications in Project Manageme = Communications is one ofthe most important parts of project management, + Project managers spend a significant amount of time on communication. ~ Efectve project managers require good communication skill, = Companies following a project communications process are more likely to complete projects on time, within budget, and within scope. Clase communications support the project by ensuring understanding of business benefits, project schedule, costs, and quality requirements, = Tailoring communications to different stakeholders is necessary to met their needs A formal project communications plan is essential Project Communications Plan: The purpose ofa project communication plan isto determine who needs whet information, whea they need i, and how it willbe delivered {The plan should inchude strategies for managing communications, alist of stakeholders and their preferences, and important project background information = Contact information for project team members should be provide. Communication modes and methods, such as email, scheduled meetings, or Slack channels, should be detailed Meeting schedules and attendees should be specified + Stakeholders and their communication preferences should be identified {Data security measures should be addressed to protect sensitive information, ~The project communication plan serves asa guide or playbook for keeping stakeholders informed. Project Communications Management Processes: 1. Plan Communications Management - Identify strategies for managing communications throughout the project, Develop and document communication plans. = Include a list of stakeholders and their communication preferen penn comjeurab4tss 7808865 na2. Manage Communications: Put the communication plans into action + Create documents and distribute information to those who need it = Communicate wih stakeholders according to the communications management plan. 3, Monitor Communications sure that communications are sufficient for project success. + Verify that stakeholders are receiving the appropriate information, “Make changes or adjustments to mect specific needs Conctusion: = Communications is vital in project management ~Awell-developed project communication plan is necessary for project success. “serves asa guide o keep stakeholders informed about all aspects of the project. 6 Types of Stakeholders: Internal stakeholder © Employees of the company © Project sponsor © Interal project team member. © Board members of the corporation. External stakeholders: © Investors © Suppliers © Community members where the project takes place. Client © Customers who purchase the projet output or service. © End-users ofthe project. Governmental or regulatory stakeholders: © Government agencies with 2 vested interest in the project. © Examples include the Internal Revenue Service, Environmental Protection Agency, or specialized agencies like the Food end Drug ‘Administration penn comjeurab4tss 7808865Stakeholder Management Process Identify Stakeholders: «© Early identification of staksholders who can impact or be impacted by the project. © Categorize stakeholders based on interest, influence, and involvement. Plan Stakeholder Management: © Develop a comprehensive communication strategy to manage staksholder expect © Include communication modes, methods, and schedules in the plan “Manage Stakeholder Engagement: © Implement the communication strategy and engage with stakeholders. © Keep stakeholders informed and involved throughout the project. “Monitor Stakeholder Engagement: © Continuously monitor and assess stakeholder satisfaction and feedback. © Make adjustments to the communication strategy as needed to meet stakeholder needs. Stakeholder Analysis: Stakeholder analysis helps identify and determine the interests and influence of stakebolders in the project. Stakeholders are categorized based. on ther interest, influence, and level of involvement in the project. The Salience Model categorizes stakeholders into seven types based on. power, legitimacy, and urgeney: discretionary, dependent, demanding, dangerous, dormant, dominant, and definitive. The Power Interest Grid assifes stakeholders according to their power and interest in the projec © Players: High interest and high power, requiring collaboration and engagement, ‘© Subjects: High interest and low power, should be consulted and kept informed, © Context Seters: High power and low interest, need high-level fais and progress updates. © Crowd: Low imerest and low power, require conimunication but not extensive engagement, 17. Resources in Project Management: Resources in project management refer to anything needed to complete the project suecessflly, They can be categorized into three main areas 4. Capital: This includes equipment, land, buildings, and funding from the company to support the project. 2. Technology: Resources related to technology, such as software, data protection measures, and other technological needs forthe project. penn comjeurab4tss 7808865 toi3. People: The project team members and their management and leadership play a crucial role in resource management Project Resource Management Processes: 1. Plan Resource Management: ™ Determine how to estimate, acquire, and use physical resources {Define the approach for leading the project team, Results ina formal resource management plan. 2. Estimate Activity Resources: ™ Use the Work Breakdown Structure (WBS) and work packages to determine the resources needed throughout the projec. + Results in a resource breakdown structure with resource requirements and timing. 43. Acquire Resources: “Recruit team members or aequire equipment, materials, and supplies needed forthe project. Procure the necessary resources to achieve project outcomes, 4. Develop Team: “Improve individual and team performance through professional developmen, training, and building trust anda positive work environment “Manage conflicts and reward good team performance. 5, Manage Team: "Track and measure team performance, + Provide feedback to the team and manage changes to team members as necded. + Optimize team performance and influence team behavior. 6, Control Resources: “ Focuses on controlling physical resources to ensure they work as planned in terms of timing and efficiency to meet project goals. Monitor and manage physical resoutees thoughout the project, Resource Management Plan: - The resource management plan is & formal document created during the planning phase. ~ Itoutlines how physical resources will be estimated, aequired, and used “also defines the approach for leading and managing the project team, = The plan includes details on professional development, traning, and incentives to keep the team engaged. “The resource management plan plays a vital role in effectively utilizing resources to achieve project success 18. Responsibility Assignment Matrix (RAM) or RACI Matri = RAM, also known as RACI Matri, isa tool used in project management to illustrate connections between work packages or activities and project tearm members, penn comjeurab4tss780s865 sina- RACI stands for Responsible, Accountable, Consulted, and Informed. + Responsible (R): Those who do the work to achieve the ask “Accountable (A): The one ultimately accountable forthe correct and thorough completion of the deliverable or task = Consulted (C): Those whose opinions are sought and with whom there is two-way communication, Informed (1): Those who are kept up-to-date on progress, usually with one-way communication, “ARAM ensures that tasks are designated to responsible agents to avoid confusion, = Itean be used within a working group to designate roles, responsibilities, and levels of authority for specific activites, The matrix format shows all activities associated with one person and all people associated with one activity = RAM development involves listing project tasks, identifying stakeholders, determining responsibility and accountability levels, and assigning stakeholders to each tas, The RAM should have one stakcholder in charge per task, and the least amount af people accountable, the bets, Regular communication and stakeholder agrcement on the final RAM are essential = The main difference between RAM and RACI Matrix is that RAM describes the participation of organizations, people, and their roles in completing tasks, while RACI i used for larger projets with multiple groups of people and organizations including outside stakeholders and their responsibilities, 19, Steps involved in the Estimate Activity Resources process: 1, Review resource availability 2, Review the Work Breakdown Structure (WBS) and activity list. 5. Identity potentially available resources. 4 Review historical data about resource reuse. 5. Review organizational policies on resource usage. 6. Seek expert judgment on resource needs and availability. 7. Make buy or ent decisions for specific resources. down complex activities for better estimation, source requirements by activity. 10, Update project documents The goal ofthe Estimate Activity Resources process isto identify the type, quantity, and characteristics of resources needed to complete activities, leading to more accurate cost and duration estimates. The process involves analyzing activity lists, resource calendars, organizational resources, and environmental factors. Proper estimation helps ensure sufficient resources are acquired without wasteful spending, 20. ‘Types of power in project management: 1 Legitimate power: Derived from a position or formal relationships, held by managers, directors, of CEOs. I allows for task assignments and demands based on positional authority. 2. Reward power: Involves giving benefits to someone for desired actions, leading to reciprocity or gratitude from others. penn comjeurab4tss 7808865 sais3. Expert power: Based on an individual and trust their abilities, expertise, skill, or competence, and earned reputation in a specific area, People seek heir opinion 4. Referent power: Derived from liability and strong relationships with others. These individuals are well-liked and skilled networkers, which gives them influence, 5. Coercive power: Comes from the ability o punish or force compliance, rypcally used by bosses to enforce their authority. It can lead to Unhappy team members and is generally nota favorable form of power, 21. Common leadership styles include: Servant Leadership- This leader puts the team first, They look to serve each member of the teum by empowering them, They focus on developing the team by focusing on the needs ofthe eam members which inereases overall performance. [Autocratic Leadership- This leader maintains control and doesa't seek input from others, The leader maintains authority over the team and makes decisions based on their own judgment Democratic Leadership - This leader seeks input from the group. They takea shared leadership approach, They solicit input from the team. Charismatic Leadership - This leader is soi-confident and inspires others. They arc often enthusiastic and personality-driven, Directing Leadership- This leader lays out a clear process and offers direction. They don't seek much input, but are clear and speci ‘works well when there are many new employees who need specific on the job training Transactional Leadership ~"This leader rewards success and punishes failure, Their leadership is based on this system of rales and regulations ‘Transformational Leadership» This leader encourages and inspires team members todo their best work. Transformational leaders motivate nie followers to exceed expectations. Laissez syle Leadership - This leader allows the team to set their own goals and make their own decisions, This isa hands-off leadership penn comjeurab4tss 7808865 sai