Tools for Developing the Project Charter

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Project Selection Methods
Project Management Methodology
Project management information systems
Expert Judgement From: http://sitestree.com/?p=11416
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Post Data:2017-10-17 13:59:21

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Input to Developing the project Charter

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Contract
Statement of Work
Enterprise environmental factors
Organizational process assets From: http://sitestree.com/?p=11414
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Will a project succeed?

There are many mathematical models to justify/predict the success of a project.

Do we need to consider project stakeholders?

Yes. Because the project may benefit some people and may cause dis-advantages to some people. Project managers need to manage and convince both of the groups.

How a project is formalized?

A project charter is developed to present the business needs and the outcome. It is just a document that is reviewed before (or for)project authorization.

  From: http://sitestree.com/?p=11412
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Economic Models of Project Selection. Part – 3: Initiating Projects

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Benefit Cost Ratio
Cash Flow
Internal Return Rate
Present Value and Net Present Value
Opportunity Cost
Discounted Cash Flow
Return on Investment From: http://sitestree.com/?p=11410
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How a project is selected?

Project Selection:
A particular project may have different alternative solutions. A company may have multiple project plans and they need to select one of them.

But How?

1. Scoring Model: Identify some matrix to find which project strategy is better or which project will be more profitable. Assign values for these parameters and select which one provides greater value.

2. Benefit contribution: Use cost benefit analysis, short term and long term cost benefit analysis.

3. Economic models:

Benefit Cost Ratio
Cash Flow
Internal Return Rate
Present Value and Net Present Value
Opportunity Cost
Discounted Cash Flow
Return on Investment

  From: http://sitestree.com/?p=11408
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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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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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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

From: http://sitestree.com/?p=11388
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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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Post Data:2017-10-16 23:15:34

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