Deliver on scope, on time, and under budget
Project Management is an essential competency for any organization. Executing the proper PM methodologies for any endeavor, in any industry, is key to delivering on objectives with high-quality outputs.
Traditional Project Management
Traditional PM Integration
Project integration management - incorporates all other project management knowledge areas and contains the process activities that integrate it into a unified whole.
Develop Project Charter
Developing a proper Project Charter is crucial to the success of a project endeavor. A charter is a document that lays out the business case, objectives, requirements, constraints, stakeholders, risks, assumptions, etc., and describes the project's entirety.
Develop Project Management Plan
The project management plan describes how the project will be executed, monitored, controlled, and closed. The details of this formal document may include an executive summary, project scope, budget, timeline, deliverables, project schedule, project resources, risk, and issue management.
Direct and Manage Project Work
The execution of activities and work carried out as defined in the Project Management Plan to achieve the project's objectives; produce project deliverables, instigate (approved changes, defect repairs, corrective and preventive actions), and distribute status information to relevant stakeholders etc.
Manage Project Knowledge
Manage Project Knowledge is the process of consciously and comprehensively gathering, organizing, sharing, analyzing, and using existing knowledge and creating new knowledge to achieve the project's objectives and contribute to the organization's learning.
Monitor and Control Project Work
The Monitor and Control process keeps the project on track and calibrated with its objectives by tracking, reviewing, and reporting the progress against budget, scope, and timeline while taking necessary actions to correct course when appropriate.
Perform Integrated Change Control
Integrated Change Control is the process of reviewing all change requests within the project. This process happens throughout the project, where changes will be accepted or rejected by evaluating the impact the change has on the project endeavor and its objectives.
Close Project or Phase
Close Project or Phase is the process of concluding all activities for the project (project, phase, or contractual obligation) and its deliverables to the satisfaction of the project sponsor. Formally closing the project ensures that all the work has been executed and everyone agrees it is completed.
Modern Standards For Project Management
Project Management Principles
Excellent project management embodies core principles that lead to delivering successful projects optimally and at high quality.
Project Managers must lead and conduct work with a holistic view acting as excellent stewards to the projects they oversee, socially, financially, and environmentally while adhering to internal and external guidelines.
Teams deliver projects. Project teams bring together human resources with knowledge, skills, and abilities to execute coordinated tasks cross-functionally throughout the project endeavor. Teams can be entirely internal or partially external if procuring domain expertise is needed to fill gaps.
Great Project Managers know that well-executed projects can be at the mercy of Stakeholder influence. Keeping stakeholders happy and communicating value throughout the project endeavor is crucial to its success. A Stakeholder management plan can help PMs identify all stakeholder contributions, power, and influence on the project and proactively manage those relationships to drive value in the project delivery.
Projects are temporary (or iterative) endeavors with clear expected benefits designed into the objectives, deliverables, and expected outcomes. Value is perpetually assessed throughout the project execution to appraise and align work output against the project's goals.
Rarely are projects executed in vacuums. Instead, numerous integrated systems surrounded projects. Project Managers should consider how these systems, internal or external, dynamically work together to advance the project.
The best Project Managers embody sound leadership characteristics and behaviors. Leadership sometimes requires adapting management style to suit the team or environment better and recognize how the team or individuals are motivated to drive high-quality outcomes from the project. Any project team member can also demonstrate leadership behavior.
The approach and methods to each project should be contextual to the project and consider the environment, the stakeholders, governance, constraints, and objectives. Tailoring projects should be iterative and implement "just-enough" process to deliver the project successfully.
Successful projects have clearly defined objectives. Meeting stakeholder expectations requires overseeing projects through the lens of quality in both process and outcomes throughout the project's maturation and meeting all acceptance criteria for all deliverables.
Naturally, projects that integrate multiple systems, roles, etc., will have some necessary complexity, and that's where great Project Managers can add value to those projects. PMs should nonetheless seek to reduce complexity wherever possible and mitigate the impact of complexity on the project. However, the entire project management team should be hyper-aware of the introduction of complexities and see to reduce unnecessary complications wherever warranted.
Planning for risk is prudent project management practice. Anticipating risk and planning for risk impact and response is part of effective project management. Align risk responses with the organization's risk exposure and appetite for risk while weighing risk significance. PMs should assess risk throughout the project's progression to mitigate adverse impacts on the project.
Adaptability and Resiliency
The project team should anticipate change and setbacks; even the best-planned projects are subject to deviation or disruption. By staying focused on outcomes over outputs, teams can adapt more nimbly when conditions change and are more resilient when rallying from failures or setbacks.
Change can be both tricky and dangerous to projects. The best way to address change is to plan for it. Systematizing a change process to handle changes when introduced can provide teams stability and assurance amidst what might otherwise feel like chaos, confusion, and uncertainty.
Modern Project Management Body Of Knowledge
Project Performance Domains
Projects demand performance across critical domains of the project, with each functional domain playing an integrated part in the project's overall success.
Performance in the Stakeholder domain considers the duties and activities within the stakeholder relationship. Stakeholders ultimately dictate how well projects perform. Thus, how well a PM engages stakeholders and to what impact on the project, is essential to that performance. Were stakeholders' expectations met, how well did PM communicate throughout the project? Did the deliverables meet the quality acceptance criteria, and was the project delivered on time and under budget?
Performance in the Team domain considers the duties and activities against where each team member contributes in producing deliverables for the project. All respective activities that contribute to project outputs should meet or exceed acceptance criteria for the project. Leading, motivating, and supporting every role leads to high-performing teams that deliver value on the completed project.
Development Approach & Life Cycle
Performance in the Development Approach & Life Cycle domain considers the duties and activities against the approaches and methods used to carry out the project, whether predictive, adaptive, or hybrid methodologies. Standards and expectations will naturally change based on the approach; predictive projects may have longer delivery cycles, while adaptive project deliver outputs continually or iteratively.
Performance in the Planning domain considers the duties and activities connected to the planning process. Planning is deliberate and methodical when initiating the project. However, planning persists throughout the project as details become more elaborate and the project evolves. The type of project, its constraints, and methodology for carrying out the project will dictate the rigor applied to the planning.
Performance in the Project Work domain considers the duties and activities associated with carrying out the project work. Project managers need to establish the approach for the project, negotiate and plan resource utilization and schedule work activity, integrate systems, and work cross-functionally with teams to achieve alignment on objectives and a collective understanding of the work effort that supports those objectives.
Performance in the Delivery domain considers the duties and activities that ultimately produce the expected deliverables for the project, including the quality and timeliness of each deliverable. The cadence of deliveries and outputs will depend on the project, approach for carrying out the work, stakeholder requirements, project guidelines, and constraints.
Performance in the Measurement domain considers the duties and activities connected with project performance assessments. Assessing the project's performance against its baselines and correcting for variances happens throughout the project lifecycle. The ongoing measurement allows PMs to identify where corrective action should occur, design responses, and work with teams to bring projects within conformance.
Performance in the Uncertainty domain considers the duties and activities connected with risk and uncertainty. PMs apply the appropriate level of rigor in anticipating and planning for risk. Nonetheless, there will always be a measure of unpredictability within projects. The project's complexity, systems, scope, approach, environment, and external factors will all influence the degree of unpredictability.