Lesson 2: How to Initiate a Project

Initiating Projects

How a project starts?

Projects are done for one of the following three reasons
Business Requirements: Example: The government requires airline companies to implement safety-management systems. A company needs to find out the success of their ecommerce web-site.

Opportunities:To take advantage of an opportunity like technology breakthrough. Example: many projects may be planned targeting iPhone.

Problem: To reduce/eliminate a problem. Airport x faces 2/3 accidents every year, the airport authority may wish to perform a project to identify causes and develop solutions.

  From: http://sitestree.com/?p=11406
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Post Data:2017-10-17 13:31:52

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Part – 2: Sub Areas of Project Knowledge Areas

5. Project procurement management

Manage acquiring products

6. Project risk management

Plan the risk management
Identify the risks
Perform risk analysis
Develop a risk resource plan
Monitor and control risks

7. Project quality management

Quality planning
Quality assurance
Quality control

8. Project integration management

Developing the project management plan
Directing and managing project execution
Monitoring and controlling the project work
closing the project

9. Project communication management

Plan communication
Distribute needed information to the stakeholders
Report project performance and status
Communicate to resolve issues among the stakeholders From: http://sitestree.com/?p=11394
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Post Data:2017-10-16 23:23:47

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Project Knowledge Area – Sub Areas

1. Project scope management

Scope Plan
Scope definition
Work breakdown structure
Scope control
Scope verification

2. Project time management

Activity definition
Activity sequencing
Activity resource estimating
Activity duration
Schedule development
Schedule control

3. Project cost management
Cost estimate
Cost budgeting
Cost control

4. Project human resource management

Planning human resources
Acquiring the project team
Developing the project team
Managing the project team

  From: http://sitestree.com/?p=11390
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Post Data:2017-10-16 23:20:42

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Terms you need to know in Project Management

• Project
• Organization
• Project stakeholder
• Process
• Knowledge Area
• Performing organization
• Project management
• Program
• Program Management
• Program Management Office

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Post Data:2017-10-16 23:17:44

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Projects and Organizational Structure

Organizational Structures

1. Functional Organization

2. Projected Organization

3. Matrix Organization

How Projects are affected by the style of the organization

1. Functional Organization:
Each functional department is a separate entity. Projects are done usually within a functional unit independent of other units. If the help of other units is required, it is done through the hierarchy of the functional managers. Usually an unit has a manager. Based on the size, each unit may have multiple managers with hierarchy.Such organization may not carry out many projects, project managers may not be so important, project managers may be just part-time with little/no authority.

2. Projected Organization:
Organized around projects. They mostly do projects. Most resources are invested for projects. Here, project managers have the supreme authority and usually are full time.

3. Matrix Organization:
Just a mix of the functional and projected organizations. The matrix may be strong in projected area and weak in functional area or vice versa. From: http://sitestree.com/?p=11386
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Project Knowledge Areas

Each project needs to use some knowledge and skills to attain it’s goals. Projects use processes to get the result. Each process may address one aspect of the project. Each process requires raw input, tool and techniques and produces some output. Each of the processes may require knowledge in one area.

Common project knowledge areas are:

1. Project scope management
2. Project time management
3. Project cost management
4. Project human resource management
5. Project procurement management
6. Project risk management
7. Project quality management
8. Project integration management
9. Project communication management From: http://sitestree.com/?p=11384
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Post Data:2017-10-16 23:11:25

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Initiate: Start a project
Plan: Plan how to achieve the goal. Plan regarding execution and monitoring.
Execute: Execute the plans to achieve the goal.
Monitor: Monitor the progress of the project. Modify plans and also modify execution.
Close: Close with project when goal is achieved From: http://sitestree.com/?p=11382
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Discussion Topics:

1. What is a project ?
2. Differences between projects and operations

What is a project?
A project is an activity that using plans and processes creates a product, a service, or a result. A product is a physical product like a TV, a service is like the Internet, a website; result [analytical model, proof of something] is the knowledge based outcome of a research project. Project is a continuous process that takes an idea/concept, targets an outcome, plans how to get the outcome, uses several processes/activities to gain the outcome. Applies monitoring and controlling to get the desired outcome timely.

What are the differences between projects and operations?
Operation is not a project, operations are done to keep something/an organization going. For a University, taking classes, conducting researches are operations. For a food shop, selling foods is an operation. But the process to create a University or a food shop is a project. Software development process is mostly project oriented. From: http://sitestree.com/?p=11380
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PMP – Project Management

Courses

• Introduction to Project Management (Step by step)

  • List of Topics

Coming soon

Exam Preparation Materials
Practice Exams
Simulated PMP Exam
From: http://sitestree.com/?p=11373
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• Collocation is a team development tool where the entire team is brought together in a single location
• The quality policy is a document where the performing organization lists their attitude towards quality. Quality policy may differ from organization to organization. For example, a pharmaceutical company will have stricter quality policy than a toy manufacturing company.
• Schedule Performance Index: http://www.ajdesigner.com/phpearnedvalue/schedule_performance_index.php
• Cost Budgeting: http://www.anticlue.net/archives/000778.htm
• Risk Monitoring and Control: http://www.truesolutions.com/free-pmi-pmp-exam-prep-lecture-series/risk-monitoring-and-control.html
• The primary purpose of Project Network Diagram: Show the sequence of activities and their dependencies
• Project Network Diagram: http://en.wikipedia.org/wiki/Project_network
• Project Monitoring and Control Involves: Evaluating Overall Project Performance on a Regular Basis.
• In the Project Management Process, on a regular basis (or time to time), you have to check what you have done, and what is next. For example, when you have finished the plan Purchases and Acquisation Processes, and the Plan Contreacting Process, the next process can be request seller responses
• Creating Project Budget involves: Cost Estimates, Schedules, and Resource Calendar
• Mandatory Dependency: Useful in creating Project Network Diagram: Software must be written before it can be tested (though test cases can be written/thought before software)
• Milestone Chart shows only the major events in project timeline. Gantt chart shows detail progress in project timeline
• After the creation of the Project Scope Statement, and Work Breakdown Structure, the activity list needs to be created
• A sequence of activities in Project Managenment: Create the activity list, create a network diagram, determine the critical path, develop the project schedule
• Run charts show trends and variances over time and are used in quality management
• Quality control and scope verification are very tightly linked and are usually done at the same time. Quality control: verify correctness, Scope Verification: Verify completeness
• After your company has bought a new company, you find that the new company produces a similar product (where your company is in the middle of the project to create the similar product). If you decide to terminate the project, you should carry out the project close process.
• Benefit Cost Ratio = 1.5. The project will make revenue 1.5 times than it’s cost.
• The activity list is the main input to the Activity Resource Estimating
• Life cycle costing: The total cost of ownership= production cost + operational cost + scrap value +….
• Control Account Plan: http://www.project-management-knowledge.com/definitions/c/control-account-plan/
• Expectancy Theory: Reward motivation will work only if the team believes that the goal is achieveable

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Post Data:2007-08-04 17:24:31

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