WGU C722 Project Management

WGU C722 Project Management 5.0 (4 reviews) Students also studied Terms in this set (221) Western Governors UniversityC 722 Save

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281 terms LearningChuPreview Project Management C722 185 terms blankenship226 Preview D467 WGU Exploring Data 152 terms devonharnamji Preview Project 64 terms sce ProjectsA temporary activity that creates a unique result.Initiatives with specific goals and start and end dates.Develop a new product or service reduces cost add technology.Example of Projects* A car company developing a new passenger car.

• A freight company adding a computer program to optimize cargo carrying

capacity.

• A construction company building a new facility for a customer.

OperationsDay-to-day activities in an organization. Continuous/ongoing.Examples of Operations* A car company making cars.

• An airline flying passsengers.
• A CPA firm completing taxes for clients.

ProductSomething created by a project.

Example of Product* A flu vaccine.

• An office building.
• The movie you just watched.
• The design of the vehicle you drive.

Business ScenarioAn imagined or projected sequence of events that is representative of a significant business need or problem, enables vendors to understand the value to the customer organization of a developed solution.Business Scenarios have this information: - Past events that are relevant- Current key information- Expected or desired outcomes Business StrategyThe activities, methods, tactics, etc. that will be employed to meet the business's goals. Determined by senior management in the organization to improve the value of the company to its stakeholders.Subject Matter Expert (SME)A person who is an authority in a particular area or project.ProgramA group of related projects.PortfolioA group of initiatives (projects and programs) that a company engages in to improve its operations.CharterThe definition of a project according to stakeholders. Defines how customer will determine if project met expectations. Includes a beginning, work steps, and clear and defined end.Business CaseThe justification for a project - Explains the business need.Project Life Cycle PhasesDefining, Planning Executing, Closing DefiningIdea for project is generated and formalized. Decision on whether to implement is made. Ends when project charter is approved.PlanningWhere detailed planning occurs. Level of detail aligns with the complexity of the project. Use Work Breakdown Structure to identify outcomes needed.Can require significant time for large projects.Typically ends when baselines for scope, budget, and schedule are approved by the customer and/or sponsor and project team.

ExecutingWhere most of the work is done.Deliverables are completed. Progress is monitored and actions taken as needed to stay on track.May return to planning phase as needed if objectives can't be met, to modify budget, schedule, or scope.Critical to be careful of scope creep - don't add functionality without considering impact.This phase is complete when all work activities and deliverables are ready to be delivered to customer/sponsor.ClosingWhen project outcomes are delivered to the customer and/or sponsor.Project Manager ties up loose ends

• Reassign project resources back to company
• Document project results and lessons learned
• Close out procurement activities
• Verify completed project is transitoned to customer

SMART Goals* Specific

• Measurable
• Achievable
• Relevant
• Time Based

Project ManagementThe act of running a project and encompasses the use of general management or specific project management knowledge, skills, tools, and techniques to ensure that the project meets its goals.Project SponsorThe individual (often manager or executive) with overall accountability for a project. Primarily concerned with ensuring project delivers agreed upon benefits.Intergration ManagmentIncludes processes/activities needed to identify, define, and coordinate various processes and project management activities.Scope ManagementIncludes the processes that ensure that all the work required is identified to complete the project successfully.Time Managementincludes the processes required to manage the timely completion of the project.Cost ManagementIncludes the processes involved in planning, estimating, budgeting, managing, and controlling costs so that the project can be completed within the approved budget.Quality ManagementIncludes processes/activities that determine quality policies, objectives, and responsibilities.Human Resource ManagementIncludes the processes that organize, manage, and lead the project team.

Communication ManagementIncludes processes to ensure timely and appropriate planning, creation, distribution, management, control, and monitoring of project information.Risk ManagementIncludes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project.Procurement ManagementIncludes the processes necessary to acquire products, services, or results needed from outside the project team.Stakeholder ManagementIncludes the processes required to identify all people or organizations impacted by the project, analyzing stakeholder expectations, and developing appropriate strategies for effectively engaging stakeholders in project decisions and execution.Triple Constraint1. Cost

• Time
• Scope

Working Project ManagerProject Manager also responsible for operational delivery project.

Problems with working project managers:

• Usually wearing multiple hatsLack of time.
• May also have lack of PM skills and training
• People from other disciplines may not report directly to you but you are

responsible for their work in project.Dedicated Projerct ManagerProgram Managers who have a distinctly separate role in organization and can be the functional manager for project for duration of project.

Communication PlanCommunication with project stakeholders, including:

• Management at all levels and users of the system
• Everyone hoping develop deliverables - workers, suppliers, etc

* Stockholders of businessOther project partnersIdentify for each stakeholder:

• Reporting needs - what to include in status report (budget, schedule issues,

etc.)

• Format - spreadsheet, table, one page summary
• Preferred medium (email, phone, presentation)When - Who is responsible