Project Management Framework (Fundamentals) for PMP Certification Exam Preparation

August 15, 2008 | Author: PM Hut | Filed under: Certification, PMP, Project Management Definitions

Project Management Framework (Fundamentals) for PMP Certification Exam Preparation
By Aditya Chinni

  1. A Project is Temporary endeavor that produces Unique product or service in a non-repetitive way that elaborates progressively.
  2. Operational Works are quite opposite in nature to Projects. They are continuous, and repetitive work and never produces a unique product.
  3. Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements
  4. A Program is group of related Projects Managed in a coordinated way. A Portfolio is group of associated Programs, Projects and other works to achieve strategic business goals. Larger Projects are divided in to more manageable sub projects
  5. PMO, Project Management Office or Program Management Office is an organizational structure used to oversee management of projects. It also can be used to provide reports, as a mentoring group for other project managers.
  6. Projectized, Matrix and Functional are different types of Organizational structures. Matrix organizations can be weak Matrix (Leaning towards functional) or Strong Matrix (leaning towards projects) or Balanced Matrix.
  7. Project stakeholders are individuals or units those are directly or indirectly affected by Project outcomes. Sponsors, customers, users, performing organizations, project team members and influencers are stakeholders.
  8. At the end of each project phase, reviews against a set of metrics are performed. If the project fails to meet these metrics, the project may not be allowed to continue. These phase end reviews are called Stage gates or Phase exits.
  9. Project Management process is iterative and cyclic. 4 steps in the process are “Plan”, “Do”, “Check”, Act”.
  10. Projects or Subprojects can be divided into discrete Phases to provide better management control or to assign specific skilled groups. For example in a small construction project “Painting Phase”.
  11. Product life cycle span is much bigger than that of a Project. Organizations run many “Projects” with in a “Product”.
  12. Organizational cultures and styles will impact projects too.
  13. At the beginning of the Project, Costs are low and Risks are High. Those percentages change as Project progresses. At the end Costs reach maximum and Risks will be zero
  14. Project documents: PMBOK suggest managers to produce at-least 3 major documents for each project
    1. Project Charter
    2. Project Scope Statement
    3. Project Management Plan. (Notice, MS Project Plan is just one section of the bigger document)

Aditya Chinni, PMP is seasoned project manager has been managing projects for over fourteen years and has numerous E-Commerce & technology projects under his belt
As a registered Project Management Professional (PMP), Aditya shares his experience in project management through PMP Prep training and conference presentations, blogs and white papers.

You can visit his training website at http://www.certschool.com.

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