PC#01 – Overview of professional project management
To provide a quick overview of professional project management
Projects are temporary endeavors with definite start and end dates, which delivers unique product or service as the output. Like every other management stream, project management also revolves around the Plan-Do-Check-Act cycle. Whatever we want to do, must be planned first, then we must execute the project as per the plan. Periodically we must check the progress against the plan, and if there is a variance we must take action.
- Business case of the project – Explains the purpose, investment required, pay back period, alternatives analysed etc.
- Project charter – which officially kick starts the project and appoint the project manager. Project charter contains the Purpose, business case, milestones with dates, high level risks key stakeholders, key stakeholder’s roles and responsibilities, project manager’s name along with roles and responsibilities. Project sponsor’s name along with roles and responsibilities. Project charter is prepared by the project sponsor or the senior management representative during the project initiation phase. Project charter ensures that only the approved projects gets resources and is useful to provide a high level view of the project to all project stakeholders.
- Develop project management plan – Integrated project plan, which provides the holistic view of the project, which binds together all subsidiary plans like;
- Scope management plan – explains how the scope of the project will be defined, managed and maintained.
- Schedule management plan – explains how the schedule of the project will be defined, managed and maintained.
- Cost management plan – explains how the cost baseline of the project will be defined, managed and maintained.
- Quality management plan – How the quality quality goals will be established and achieved?.
- Plan resource management – How the resources (man, machine, material) required for the project will be estimated, mobilized, allocated, maintained and released?.
- Plan communications management – What should be communicated, to whom, when, in which format?.
- Plan risk management – How the risks pertaining to the will be identified, prioritized and managed?.
- Plan procurement management – How the required resources for the project will be procured?
- Plan stakeholder engagement – How the various stakeholders of the project will be identified and managed?
- Direct and manage project work as per the plan
- Manage project knowledge – Capture, store, analyze, disseminate
- Manage quality – Implementing the quality plan
- Manage resources – acquire, develop, manage resources – Implementing the resource management plan
- Manage communication – Implementing the communications plan
- Implement risk responses – Implementing the risk management plan
- Conduct procurement – Implementing the procurement management plan
- Manage stakeholder engagement – Implementing the stakeholder management plan
- Monitor and control project work – Planned Vs actual with respect to schedule, cost, scope, quality
- Monitor communications – Check project communications
- Monitor risks – Check project risks
- Monitor stakeholder engagement – Interest, satisfaction
- Perform change control – Change request, approval / rejection, incorporation, communication.
- Validate scope – validating the product of the project with the agreed upon scope
- Control scope – change control
- Control schedule – updates, revisions
- Control costs – Work progress Vs Actual Cost incurred against the planned cost
- Control quality
- Control resources
- Control procurements
- Product of the project
- Lessons learned