Project Management

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Project Management

• By Michael Pantazis

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Introduction

• Project management is the application of
  knowledge, skills, tools, and techniques to the
  project activities that are necessary to meet the
  project requirements
• The primary purpose of a project is to make or
  implement change within the organization,
  typically to move the organization toward the
  achievement of its strategic objectives.

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Triple Constraint Model

• The triple constraint model can be used to best
  describe the limitations imposed upon a project
  manager to provide quality while staying on
  schedule, under budget, and in scope.
• no one side of the triangle can be altered,
  without affecting any of the other respective
  sides of the triangle

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Project Management Life Cycle

• Initiating Processes
• Nature and scope of development
• Planning Processes
• Defining and refining the objectives
• Executing Processes
• Executing the work previously defined
• Controlling Processes
• Measure performance of the execution initiatives
• Closing Processes
• Formal acceptance of the project

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Project Risk Management

• Risk management can be best summed up as the
  process of identifying the risks associated with
  important business processes and reducing them to
  acceptable levels
• The RBS is a hierarchical diagram that helps
  present and categorize high-level risks. It also
  stands as a tool used to jumpstart the process of
  risk planning

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Project Risk Management (cont.)

• Risk Response Strategies
• Avoid
• Avoid risk altogether
• Transfer
• Transfer ownership to another party
• Mitigate
• Reduce the probability or impact
• Accept
• Deal with risks that cant be reduced, mitigated,
  transferred, or avoided

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Project Methodologies Frameworks

• Stage-Gate
• Divides the effort required
• Organizational Project Management Maturity Model
• Choose best practices that apply to PM needs
• Critical Chain
• Realistic time cost estimates

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Project Management IT Governance

• Project Governance is used to depict the
  processes that need to exist in order for a
  successful project to be completed
• provide a blueprint for the relationships between
  all the internal and external groups that are
  involved in a project
• describe and document the proper flow of
  information regarding the project status to all
  project stakeholders
• extremely useful in ensuring that the appropriate
  review is carried out to reach resolutions for
  issues