WGU C722 Project Management

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Teacher wan What is a project?Is any temporary endeavor with a specified start and end date that results in a unique product, service, or result.Project managementinvolves managing everything about the project to get the desired result.Organizations are complex entities that engage in two

types of activities:

operations and projects.Operationsongoing, daily activities of an organization that produce revenue and expense.They continue over an indefinite period of time, creating business transactions and delivering products and services that generate revenue. They are the activities that typically are thought of as what the organization "does." There is no start and end date.Projectsmodifies the business or its products for future profitability. Develops a new

product or service, including: new technology features, an improved service, or

cost reduction for the business in providing services, such as better accounting systems.Examples of projectsnew technology features, an improved service, or cost reduction for the business in providing services, such as better accounting systems.Frank and Lillian Gilbreth were the "parents" ofwhat is now known as time and motion study.Frederick Tayloris known as the father of the scientific management.Henry Gantthe studied management techniques in the construction of navy ships used in the First World War. As a result of his studies, he created the Gantt chart, a horizontal bar chart that sequences tasks and provides duration of each task.

Project managers must have competency in ten distinct

knowledge areas:

Integration management:

Scope management:

Time management:

Cost management:

Quality management:

Human Resource management:

Procurement management:

Stakeholder management:

Integration management:Includes processes and activities needed to identify, define, and coordinate various processes and project management activities project triple constraintsA primary focus of Project Management is to achieve all project goals and objectives, while honoring preconceived constraints.

The primary constraints of project management are three: "scope, time, and

budget", which also may be termed "scope, schedule, and cost". These three factors are known as the "triple constraints", but also are referred to as the "project management triangle", and the "constraint triad".Scope management:Includes the processes that ensure that all the work required is identified to complete the project successfully Time management:Includes the processes required to manage the timely completion of the project Cost management:Includes the processes involved in planning, estimating, budgeting, managing, and controlling costs so that the project can be completed within the approved budget Quality management:Includes processes and activities that determine quality policies, objectives, and responsibilities Human resource management:Includes the processes that organize, manage, and lead the project team Communication management:Includes processes to ensure timely and appropriate planning, creation, distribution, management, control, and monitoring of project information Risk management:Includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project Procurement management:Includes 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, analyze stakeholder expectations, and develop appropriate strategies for effectively engaging stakeholders in project decisions and execution

The project manager will have to rely on people skills,

including these skill sets:

Negotiation Conflict resolution Communication Written Verbal Prioritization Budgeting Money Time Business scenario"An 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

Metacognitionthinking about thinking," refers to your awareness of yourself as a learner and your ability to regulate your own learning.portfoliois a group of related programs that support a long-term company goal or objective.A group of projects, or programs, undertaken by a company in order to achieve strategic business goals programis a group of related projects that support the goals and objectives of the company; it may be established and is a group of related projects.projectis an activity or group of activities that generate a new, unique product, service, or result to support a program.Business Scenariois representative of a significant business need or problem, and enables vendors to understand the value to the customer organization of a developed solution" Business Strategyconsists of the activities, methods, and tactics that will be employed to meet the business's goals.project managementit is the management and execution by an organization's resources in order to move the tasks and assignments of development and other continual improvement endeavors toward successful completion.Phases of the Project Life CycleDefining (intializing), Planning, executing and closing

DefiningOnce senior management approves a project, it enters the initiation or defining

phase. Immediate activities that take place in this phase are the following:

Determining the project's sponsor and the project's manager Creating a project charter. The charter is a document that, like a contract, is agreed upon by the sponsor and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities, authorities, and scope for the project.a project charteris a document that, like a contract, is agreed upon by the sponsor and key stakeholders. It defines the project and authorizes the resources, roles, responsibilities, authorities, and scope for the project.PlanningThere are many parts of a plan that need to be considered during this phase,

among them:

Technology Business process Staffing Training Testing Communications Budget constraints Integration of the project with operations and other projects Executinginvolves overseeing and managing all necessary work and assignments by members of the project team that are required over the life of the project.This includes overseeing the successful completion of the project deliverables in accordance with the approved implementation schedule.

Executing (3)This can be a challenging and volatile phase, due to:

Unexpected changes that may present themselves in the competitive environment New organizational priorities Loss of key project resources Previously unidentified risks occurring that puts the project plans in jeopardy Closingoccurs when the project is completed to the customers' satisfaction. The closing of a project signifies that the project deliverables have been successfully launched and the resulting project efforts are complete. The closing phase includes not only the launch, but a review and transfer of lessons learned.Projects(7)is a temporary endeavor with a specified start and end date.Operations (7)are the ongoing, daily activities of an organization that produce revenue and expense.ProductSomething created by a project