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
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
12 Instructor: Musediq Abdul
Project Charter Sample
13 Instructor: Musediq Abdul
Project Charter
14 Instructor: Musediq Abdul
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 –