knowledge-base

Project Management

Utilization of many different skills, resources, tools, techniques, and accumulated wisdom in order to effectively coordinate project activities and achieve goals.

Key Responsibilities

• Manage Project Requirements
  • Maintain control over scope and objectives
  • Maintain activites align with goals
  • Administrate change control
  • Capture evolving needs by the scope and objectives.
  • Balance stakeholder needs in implementation the most appropiate solution
• Address stakeholder needs
• Maintain communication
  • Ensure stakeholders remain up to date with appropiate communications.
  • Ensure project team informed of all relevant changes and information.
• Balance Resource Constraints
  • Limited resources are present in every project environment.
  • Must work to balance contraints and priorities
  • Project Constraints
    • Scope
    • Schedule
    • Risk
    • Budget
    • Quality
    • Resources
  • You must balance between project constraint types consciously to achieve your project requirements.
  • You must decide which project constraints take higher priority based on project requirements.
• Remain mindful of the outcome, goal or reason that a project/initiative exists, not just defined deliverables.

Foundations

Key thought process of a project, to make sure it has actually value the investment? It can be less strict, but use these foundations to evaluate of the project has value and if all stakeholders agree on the scope or objectives.

• Needs Assesment
  • Maybe conducted by project manager, busienss analyst or external.
  • Determine underlying needs that indicate an oppertunity for a project that can create value or solve problems.
  • By addressing needs, value is created.
• Business Case
  • Lists objectives and justifications for the project.
  • Should indicate economiv feasibility and expected net benefit of project.
  • Timeline of benefit realization vs incurrance should be described.
• Benefits Management Plan
  • How and when project benefits will be delivered.
  • Define target benefits and timeframes, list risk factors and assumptions/constraints.
  • Metrics that can be used to verify delivery of benefits.
• Project Charter
  • Founding project document created or approved by project sponsor.
  • Defines core project objectives, provides for funding, names key stand and project manager.
• Project Management Plan
  • Create by PM and Team
  • Describes how ojectives will be completed and how work will be managed.

Key Project Roles

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Requirements for a Project

A business case is made by proving the results of a project will fullfil one or more needs. The value creation of a project is dependent on how well it meets needs relative to the costs incurred.

The value is not perse financial, can be also other gains, benefits or value

Types of project value

• Financial
• Strategic
• Social good
• Increase Quality / Resilience
• Organizational empowerment
• Customer satisfaction
• Technological Innovation
• Intellectual Property