PMP Extra Notes

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  • “Good practice” does not mean that the knowledge described should always be applied uniformly on all projects; the project management team is responsible for determining what is appropriate for any given project (PMI Bold) 
  • A project is a temporary endeavor undertaken to create a unique product, service or result
 
  • Progressive elaboration is a characteristic of projects, meaning that it is developed in steps, and continues by increments.  For example, items might be described in broad terms at the start of the project but be defined in detailed terms by the conclusion of the project – from the preliminary project scope statement to the verified project scope statement supported by a detailed WBS
 
  • Projects are different than operations; projects are supposed to complete their objective and then cease to exist; operations continue indefinitely and sustain the business.
 
  • Projects are often conducted to support the organizations’ strategic plan, and to support one or more strategic element:
    • Market demand
    • Organizational need
    • A customer request
    • A technological advance
    • A legal requirement
 
  • Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements
    • Project management is accomplished through the application and integration of the project management processes of initiating, planning, executing, monitoring & controlling, and closing.


    • Managing a project includes 
      • 1) identifying requirements 
      • 2) establishing objectives 
      • 3) balancing scope, timing and cost 
      • 4) adapting the plan to different concerns of stakeholders
     
    • The five areas of expertise in the project management team include
      • The project management body of knowledge (PMBOK)
      • Application area knowledge, standards and regulations
      • Understanding the project environment
      • General management knowledge and skills
      • Interpersonal skills
     
    • Application area knowledge, standards and regulations are usually defined in terms of 
      • 1) functional departments (i.e. legal, marketing) 
      • 2) technical elements (i.e. software development) 
      • 3) management specializations (i.e. government contracting) 
      • 4) industry groups (i.e. energy, financial services)
     
    • Standards are guidelines or a preferred approach (i.e. ISO) and regulations are government-imposed requirements such as laws (i.e. EPA, contract law)
     
    • The project environment includes cultural and social environment (people demographic, education, organizational accountability), the international and political environment (time zones, different countries) and physical environment (is the team co-located?)


    • General Management Knowledge and Skills including planning, executing and controlling to support the company.Supporting areas include 
      • 1) accounting 
      • 2) purchasing 
      • 3) sales 
      • 4) contracting 
      • 5) manufacturing & distribution 
      • 6) planning 
      • 7) HR 
      • 8) health and safety 
      • 9) IT
    • The management of interpersonal relationships includes 
      • 1) communication 
      • 2) influence 
      • 3) leadership 
      • 4) motivation 
      • 5) negotiation 
      • 6) problem solving
     
    • Programs vs. Project management – a program is a group of related projects that need to be managed in a coordinated fashion, such as the development of a new product that contains multiple assemblies and includes related activities such as marketing plans.
     
    • portfolio is a group of projects or programs that are managed together to meet company objectives, such as those to support a line of business or internal process improvement
    • Projects may be broken into subprojects, such as skilled labor (construction) on a larger project.
     
    • A Project Management Office is an organization to manage and coordinate projects that are under its domain.A PMO can oversee programs or projects.PMO’s are of varying forms depending on the organization, where they can coordinate, manage or even execute projects.
     
    • Key PMO features may include 
      • 1) coordination of resources 
      • 2) run PM Methodology 
      • 3) document repository 
      • 4) monitoring of project managers 
      • 5) coordination of overall project standards
    • PMO’s are different from project managers in that the project manager works on their specific project, while the PMO manages resources across multiple projects.The project manager manages scope, schedule, cost and quality while the PMO manages overall risk, opportunity and interdependencies across projects.The project manager reports on one project, while the PMO provides consolidated project reporting.

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