1. Introduction

1.1.1. The Standard for Project Management

• The Standard for Project Management is based on the concepts of consensus, openness, due process, and balance
• The standard and the guide are both based on descriptive practices, rather than presciptive practices

1.1.2. Common Vocabulary

• A common vocabulary is an essential element of a professional discipline
• Vocabulary that cab be consistenly used by organizations, portfolio, program, and project managers and other project stakeholders

1.1.3. Code of Ethics and Professional Conduct

1. Responsibility
2. Respect
3. Fairness
4. Honesty

1.2. Foundational Elements

1.2.1. Projects

• A project is a temporary endeavor (there is a start & stop) undertaken to creare a unique product, service or result
• Drive change
• Business value creation

1.2.2. Project Management

• The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

1.2.3. Relationship of Project, Program, Portfolio, and Operation Management

• A project may be managed in three separate scenarios: as a stand-alone project, within a program, or within a portfolio
• A program is defined as a group of related projects, subsidary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually
  • Program management is defined as the application of knowledge, skills, and principles to a program to achieve the program objectives and to obtain benfit and controls
• A portfolio is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives
  • Portfolio management is defined as the centralized management of one or more portfolios to achieve strategic objectives
• Operations Management is concerned ith the ongoing production of goods and services
• Operations and Project Management
  • At each point, deliverables and knowledge are transferred between the project and operations for implementation of the delivered work
• Organizational Project Management (OPM) and Strategies
  • A framewwork in which portfolio, program, and project management are integrated with organziational enablers in order to achieve strategic objectives

1.2.4.1. Project and Development Life Cycle

• Project Life Cycle: The series of phases that a project passes through from its start to its completion (To produce delivers)
  • Starting the project -> Organizing and Preparation -> Carrying out the work -> Ending the project
  • Hardware phase -> software phase -> Integration -> Test -> Development etc.
• Development life cycles:
  1. Predictive - The project scope, time, and costare determined early in the project life cycle (Waterfall life cycles)
  2. Iterative - Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product
  3. Incremental - The deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame
  4. Adaptive - Agile, iterative, or incremental. The detailed scope is defined and approved before the start of an iteration
  5. Hybrid - A combination of a predictive and an adaptive life cycle
  • Requirement -> Design -> Development -> Test -> Deployment

1.2.4.2. Project Phase

• A project phase is a collection of logically related project activities that culminates of one or more deliverables
• The project phases may be established based on various factors:
  1. Management needs
  2. Nature of the project
  3. Unique characteristics of the organization, industry or technology
  4. Project elements
  5. Decision points

1.2.4.3. Project Management Process

• Inputs -> Tools and Techniques -> Outputs

1.2.4.4. Project Management Process Group (IPEMC)

• A Project Management Process Group is a logical grouping of project management processes to achieve specific project objectives:
  1. Initating Process Group (To define a new project or phase, develop project charter etc.)
  2. Planning Process Group (To establish the scope of the project or refine objectives)
  3. Executing Process Group (To complete the work)
  4. Monitoring and Controlling Process Group (To track, review, and regulate the progress)
  5. Closing Process Group (To complete or close the project)

1.2.4.5. Project Management Knowledge Areas (10 areas)

• A knowledge Area is an identified area of project management:
  1. Project Integration Management
  2. Project Scope Management
  3. Project Schedule Management
  4. Project Cost Management
  5. Project Quality Management
  6. Project Resource Management
  7. Project Communications Management
  8. Project Risk Management
  9. Project Procurement Management
  10. Project Stakeholder Management

1.2.4.6. Project Management Data and Information

• Work performance data (raw observations etc.)
• Work performance information (analyzed in context etc.)
• Wwork performance reports (generate decisions etc.)

1.2.5.1. Project Chapter and Project Management Plan

• The project chapter is defined as a document issued that authorized the existence of a project and provides the PM with the authority to apply organizational resources to project activities
• The project management plan is defined as the document that describes how the project will be executed, monitored, and controlled

1.2.5.1. Project Success Measures

• Project management metrics: Time, cost, scope, and quality
• Achievement of project objectives