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Lesson 3– EPM – 1013

Common Project Management Terms


Terms
• Program is a group of related projects managed in a
coordinated way to obtain benefits and control not
available from managing them individually - PMBOK
- A series of coordinated, related, multiple projects that continue over
an extended time and are intended to achieve a goal
- A higher level group of projects targeted at a common goal
Example:
• Project – Completion of a required course in Project Management
• Program – Completion of all courses required for a Business Major

2 Instructor: Musediq Abdul


Terms….
• Portfolio Management – An emerging business strategy in
which organizations group and manage projects and
programs as portfolio of investments that contribute to
the entire enterprise’s success

- It is the continuous process of selecting and managing


the optimum set of project initiatives that deliver maximum
business value

3 Instructor: Musediq Abdul


Terms….
• Strategy – how different organizational engagements (projects &
programs) are linked together to achieve long term goals
• Tactics – is the conduct of an engagement (individual projects)
• Tools – something tangible, such as template or software used in
performing an activity to produce a product or result e.g. MS Project,
Excel etc.
• Technique - A defined systematic procedure employed to perform an
activity to produce a product or result or deliver a service e.g.
brainstorming, meeting etc.
• Enterprise Environmental factors – internal & external
environmental factors that may impact project success e.g. organizational
culture, regulatory environment, financial & market condition
• Organizational Process Assets- includes templates, organizational
standards, historical information, lesson learned, corporate knowledge
base etc.

4 Instructor: Musediq Abdul


Scope, Quality & Charter
Scope – “the sum of the products, services, and results to be
provided as a project.” - PMBOK® Guide

Project scope management is concerned with defining all the work


of the project and only the work needed to successfully produce the
project goals. This encompasses both project scope and product
scope

Scope baseline – scope statement, WBS & WBS Dictionary

Quality – “the degree to which a set of inherent characteristics


fulfills requirements.” - PMBOK® Guide

Project charter – “a document issued by the project initiator or


sponsor that formally authorizes the existence of a project, and
provides the project manager with the authority to apply
organizational resources to project activities.”- PMBOK® Guide

5 Instructor: Musediq Abdul


Statement of Work (SOW)
• Project statement of work (SOW) – describes the product, service or
result the project was undertaken to complete. This document is
usually written by the sponsor or buyer

Content of SOW are:


• Business need – relates to the need of organization e.g. market
demands, government regulation, tech advancement etc.
• Product Scope Description – describes the characteristics of the
product, service or result of the project. It is usually progressively
elaborated
• Strategic Plan – Management usually refers to the strategic plan when
choosing projects

6 Instructor: Musediq Abdul


Kick-Off Meeting

• A meeting held at the beginning of a project so that


stakeholders can meet each other, review the goals of the
project, and discuss future plan
• Often used to get support for a project and clarify roles
and responsibilities
• The project champion should speak first and introduce the
project sponsor and project manager
• Often, a fair amount of work is done to prepare for the
meetin

7 Instructor: Musediq Abdul


Project Charter
• A document that formally recognizes the existence of a
project
• Provides a summary of project’s objectives and
management
• Authorizes the project manager to use organizational
resources to complete the project
• A crucial part of the project charter is the sign-off section
• Ideally, the project manager plays a major role in
developing the project charter

8 Instructor: Musediq Abdul


Charter
Project charter – “a document issued by the project initiator
or sponsor that formally authorizes the existence of a project,
and provides the project manager with the authority to apply
organizational resources to project activities.”
- PMBOK® Guide

9 Instructor: Musediq Abdul


Business Case for Project

• A document that provides justification for investing in a


project
• Helps to determine whether or not the project is worth
the required investment
• Typically, it includes the business need and a cost-benefit
analysis
• Business is created as result of one or more of the
following: market demand, organizational need, customer
request, technological advancement, legal impact,
ecological impact or social need

10 Instructor: Musediq Abdul


Content of Project Charter
• Project title, date of authorization, start and finish dates
• Project purpose and justification
• Measurable project objectives and related success criteria
• High level requirements (needs), project description, and risks
• Summary milestone schedule
• Summary budget
• Project approval requirements (success criteria and who decides and
sign-off on the project)
• Assigned project manager, responsibility and authority level
• Name and authority of the sponsor

11 Instructor: Musediq Abdul


Create Project Charter

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Project Charter Sample

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Project Charter

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3.2 Career Path for Project
Manager
Instructor: Musediq Abdul
Portfolio Management
• Assess organization’s ability to perform
projects
• Portfolios
• Programs
• Projects and subprojects

Portfolio management – “aligns with organizational


strategies by selecting the right projects, prioritizing work, and
providing needed resources.” PMBOK® Guide

Instructor: Musediq Abdul


Portfolios
• Ongoing operational work
• Temporary project work
• Seek a balance between
– Large and small projects
– High-risk, high-reward and low-risk
projects
– Quick completion and substantial time
projects
portfolio – “projects, programs, subportfolios, and operations
managed as a group to achieve strategic business objectives.”
PMBOK® Guide
Instructor: Musediq Abdul
Programs
• Last as long as the organization lasts
• Deal with a group of related projects
• Projects within a program are of limited
duration
• Managed at a level above the project
manager
program – “a group of related projects, subprograms, and
program activities managed in a coordinated way to obtain
benefits not available from managing them individually.”
PMBOK® Guide

Instructor: Musediq Abdul


Projects and Subprojects
• A large project may be composed of
multiple subprojects
• The project manager coordinates
subprojects and makes decisions that are
best for the overall project
subproject – “a smaller portion of the overall project created when
a project is subdivided into more manageable components or
pieces.” PMBOK® Guide

Instructor: Musediq Abdul


Portfolio, Program, Project, and
Subproject Relationships

Instructor: Musediq Abdul


Classwork/Assignment

• Brainstorm on the group assignment


Charter – in-class session
• Develop charter for the group assignment –

22 Instructor: Musediq Abdul