PMBOK® 6th Edition Project VS Operations A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or staffing) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations), which are repetitive, permanent, or semi-permanent functional activities to produce products or services. In practice, the management of such distinct production approaches requires the development of distinct technical skills and management strategies. (Wikipedia) Introduction What is PMBOK Guide? PMBOK Guide is a recognized standard for the project management profession.
What is a standard? A standard is a formal document that describes established norms, methods, processes, and practices.
How did it evolve?
The knowledge contained in this standard evolved from the recognized good practices of project management practitioners who contributed to the development of this standard. Introduction PMBOK Guide Layout Chapter 01 & 02 Provides an introduction to key concepts in the project management field. Chapter 03 Is the standard for project management.
Its summarizes the processes, inputs, and outputs that are
considered good practices on most projects most of the time. Chapter 04 – 12 Are the guide to the project management body of knowledge.
They expand on the information in the standard by describing the
inputs and outputs as well as tools and techniques used in managing projects. Introduction
The PMBOK Guide provides guidelines for managing
individual projects.
The PMBOK Guide
defines project management and related concepts, and
describes the project management life cycle and the related
processes 1.1 Purpose of the PMBOK Guide
The increasing acceptance of project management indicates that
the application of appropriate knowledge, processes, skills, tools, and techniques can have a significant impact on project success.
The PMBOK Guide identifies that subset of the
project management body of knowledge [which is] “generally recognized” as “good practice”. 1.1 Purpose of the PMBOK Guide
What does “generally recognized” mean?
It means the knowledge and practices described are applicable to most projects most of the time, and there is consensus about their value and usefulness.
What does “good practice” mean?
It means there is general agreement that the application of these skills, tools, and techniques can enhance the chances of success over a wide range of projects. 1.1 Purpose of the PMBOK Guide
Good practice does not mean that the knowledge described
should always be applied uniformly to all projects.
The organization and/or project management team is responsible
for determining what is appropriate for any given project. 1.1 Purpose of the PMBOK Guide Common Vocabulary The PMBOK Guide also provides and promotes a common vocabulary within the project management profession for discussing, writing, and applying project management concepts.
Such a standard vocabulary is an essential element of a professional
discipline
Foundational Project Management Reference
The Project Management Institute (PMI) views this standard as a foundational project management reference for its professional development programs and certifications Purpose of the PMBOK Guide PMI Code of Ethics and Professional Conduct In addition to the standards that establish guidelines for project management processes, tools, and techniques, the PMI Code of Ethics and Professional Conduct guides practitioners of the profession of project management and describes the expectations practitioners have of themselves and others. What is a Project 1.2 What is a project?
The end is reached when
the project’s objectives have been achieved or
when the project is terminated because its objectives will not
or cannot be met, or when the need for the project no longer exists. 1.2 What is a project? Definition – Misconceptions: Temporary does not necessarily mean short in duration.
Temporary does not generally apply to out put of the project (the product, service, or result created by the project); most projects are undertaken to create a lasting outcome. [and lasting impact.]
Definition: “create”: A product that can be either a component of another item or an end item in itself, A capability to perform a service (e.g., a business function that supports production or distribution), or A result such as an outcome or document (e.g., a research project that develops knowledge that can be used to determine whether a trend is present or a new process will benefit society). 1.2 What is a project? Definition – “unique” Every project creates a unique product, service, or result.
Although repetitive elements may be present in some project
deliverables, this repetition does not change the fundamental uniqueness of the project work.
An ongoing work effort is generally a repetitive process because it
follows an organization’s existing procedures. 1.2 What is a project? Differences from routine repetitive work In contrast, because of the unique nature of projects, there may be uncertainties about the products, services, or results that the project creates.
Project tasks can be new to a project team, which necessitates
more dedicated planning than other routine work.
In addition, projects are undertaken at all organizational levels.
A project can involve a single person, a single organizational unit, or
multiple organizational units. Examples of Projects? ▪ Examples of projects include but not limited to: ✔ Developing a new pharmaceutical compound for market, ✔ Merging two organizations, ✔ Exploring for Oil or Gas in a region, and ✔ Conducting research to develop a new manufacturing process ▪ The temporary nature of projects indicates that a project has a definite beginning and end. 1.2 What is a project? Examples of Projects Examples of projects include, but are not limited to: Developing a new product or service,
Effecting a change in the structure, staffing, or style of an
organization, developing or acquiring a new or modified information system,
Constructing a building or infrastructure, or
Implementing a new business process or procedure.
What is Project Management Project management is accomplished through the appropriate application and integration of the 49 logically grouped project management processes Comprising the 5 Process Groups: i.e. Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Managing a project typically includes:
Identifying requirements, Addressing the various needs, concerns, and expectations of the stakeholders as the project is planned and carried out, Balancing the competing project constraints including, but not limited to: Scope, Quality, Schedule, Budget, Resources and Risk What is Project Management Application of knowledge, skills, tools and techniques to meet project requirements and Objectives of the stakeholders / end users
Getting a Unique Undertaking done through the Active Support
of others / stakeholders
The art of deciding & coordinating human / Materials resources
through out the life of the project by using modern management techniques to achieve predetermined objectives of Scope, Time, Cost & Quality (STCQ) Project or Operation? Project or Operation? Project or Operation? PMI PMI- Project Management Insitute PMI PMI PMP Project Management Process Groups Projects Derive Change ✔ Projects derive change in organizations. For a business perspective, a project is aimed at moving an organization from one state to another state in order to achieve a specific objective. Projects Enable Business Value Creation ✔ PMI defines business value as the net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both. ✔ In business analysis, business value is considered the return, in the form of elements such as time, money, goods, or intangible in return for something exchanged. Examples of tangible elements include: Examples of intangible elements include: Monetary assets, Stockholder equity, Utility, Goodwill, Brand recognition, Public benefit, Fixtuservres, Tools, and Market shares. Trademarks, Strategic alignment, and Reputation Project Development Life Cycle Projects Initiation Context ▪ Organizational Leaders initiate projects in response to factors acting upon their organizations. There are four fundamental categories for these factors. Which influence an organization’s ongoing operations and business strategies Stakeholders Expectation The Importance of Project Management ▪ Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. ▪ Project Management is accomplished through the appropriate application and integration of the project management processes identified for the project. ▪ Project management enables organizations to execute projects effectively and efficiently. Effective Project Management ▪ Project Management helps individuals, groups, and public and private organizations to: ✔ Meet business objectives; ✔ Satisfy stakeholder expectations; ✔ Be more predicable; ✔ Increase chances of success; ✔ Deliver the right products at the right time; ✔ Resolve problems and issues; ✔ Respond to risks in a timely manner; ✔ Optimize the use of organizational resources; ✔ Identify, recover, or terminate failing projects; ✔ Manage constraints (e.g., scope, quality, schedule, costs, resources) ✔ Balance the influence of constraints on the project (e.g., increased scope may cost or schedule); and ✔ Manage change in a better manner. Trying to manage a project without project management is like trying to play a football game without a game plan.
K. Tate Projects and strategic planning
Strategic Considerations • Market Demand • Business need • Customer request • Technological advancement • Legal requirements • ?? General Project Characteristics Initiated, Planned, Constrained by limited Performed by people – Executed, Monitored & resources – time, cost, persons & organizations Controlled and then people etc. Closed
Achieve organization’s Socio Economic Projects within Project
strategic plan environmental impacts (sub-projects)
Progressively elaborated • Progressively means ‘step- by-step’ • Elaborated means ‘to work out with care the details’.
