operation related words: production- manufacturing- running- routine- weekly. monthly- ongoing- business as usual- repetitive
program: is a collection of projects that are completed together to gain benefits by managing the projects as a group rather than on an individual basis. related words are temporary- benefit- related projects- all of them together
portfolio: is the management, selection, and assignment of projects that support an organization’s business objectives. related words are permanent- not necessary relating- (project + program + operation) - initiatives strategic: evaluate, select, prioritizing, balancing - Aggregate performance
Organizational project management (OPM): provides a framework and direction for how projects, programs, portfolios, and organizational work should be done to meet the organization’s strategic goals.
Governance framework: Align the projects with business strategy- Alignment with mission, performance issues (time, cost, scope) and stakeholder communications
Change management plan: how versioning information will be tracked
A work authorization system: is a formal, documented procedure to describe how to authorize and initiate work in the correct sequence at the appropriate time.
Business Case: Describes the strategic value of a potential project and its benefits to the company. gives us the cost benefit of doing the project
PMO
Supporting : will provide support, such as forms, templates, software, and advice on the project
Controlling: is more concerned with compliance than supporting the project manager role.
Directive : manages the project directly
is the process of considering changes before these are put into change control.
A Configuration Management Plan is a management tool that defines, documents, controls, instructs, implements, and manages changes to various components throughout a project.
is the subset of the (PMIS) that describes the different versions and characteristics of the
product, service, or result of the project and ensures accuracy and completeness of
the description. It is all about managing different configurations of a product. At some
point in time, a product will be base lined, and different configurations, versions, and
branches are managed from that point.
a method to document technical direction on the project and any changes or enhancements to the technical attributes of the project deliverable.
Organic or Simple: small business and startups - the role of project manager really does not exist.
Functional Organization: The project manager has no or very little power over the resources. And functional organization is responsible for resources
Project Oriented: AKA, projectized - The PM has 100% control of the resources
Weak Matrix: the PM has a no or little power
Balanced Matrix: The PM’s power is low to moderate.
Strong Matrix: The PM’s power is moderate to high
Hybrid: a company uses more than one of the different types of structures.
Supporting : will provide support, such as forms, templates, software, and advice on the project
Controlling: is more concerned with compliance than supporting the project manager role.
Directive : manages the project directly
Benefit Cost Ratio (BCR): The larger the ratio the better.
Internal Rate of Return (IRR): The bigger the interest rate, the better the project.
Net present value (NPV): The bigger the PV or NPV, the better.
Return on Investment (ROI): The bigger the ROI the better.
Payback Period: The shorter the better.