Lesson 2

PMBOK Guide Part I

Pages 1-18

Topics

1. Introduction

1.1 The Purpose of PMBOK Guide

1.2 What is a project?

1.3 What is project management

1.4 Relationship between project management, program management, and portfolio management

1.5 Relationship between project management and operations

1.6 Business value

1.7 Role of the project manager

1.8 Project management body of knowledge

Introduction

• PMBOK provides guidelines for managing individual projects

• PMBOK provides PM related concepts • Chapter 4 -13 are the main project management body of

knowledge • PMBOK contains PM standards provided in Annex A1

The purpose of PMBOK Guide

• To give generally recognized good practices in regards tools, techniques, knowledge, processes, and skills needed for better PM

• To promote common vocabulary about the project managers

Generally recognized means application to most projects in most

cases.

Good Practices means that there is

consensus that the practice will increase the success rate over

many project.

What is a project?

• A temporary endeavor undertaken to create unique product, service, or result

• Every project has definite start and end• The end is reached when project objective is

achieved or the project is terminated• Every project is unique

Projects vs Programs vs Portfolios

• Project: A temporary endeavor undertaken to create unique product, service, or result

• Program: A group of inter related projects managed together

• Portfolio: A collection of projects and operation managed under one group to a achieve strategic goal.

What is project management?

Application of knowledge, skills, and tools and techniques to project activities to meet project requirements. By balancing:

1. Scope 2. Time3. Cost 4. Quality 5. Risks, and 6. Resources

• The six items are part of project contraints (a limiting factor that affects the execution of a projects

• There can be more than six contraints

• Changing one will affect the other.

The triple constraint

The triple constraint

Program Management

• Applying skills, knowledge, tools and techniques to manage interrelated project in a coordinated way, in order to obtain benefits not available when managing the projects individually.

• Projects in a program are related through common outcome or collective compatibility.

• E.g building a dam or building many schools

Portfolio Management

• Centralized management of many projects, programs, and operations to achieve strategic goals.

• By ensuring resource allocation and alignment with the strategic goals.

Projects management vs Programs management vs Portfolios management

• Portfolio Management: Aligns programs and projects with org strategic goals by choosing the right programs and projects and providing the needed resources.

• Program management: Harmonizes the programs and projects by controlling their interdependencies.

• Project Management: Plans and achieves a specific target of the portfolio or Org objectives.

Project Vs Program Vs Portfolio

Projects and strategic goals

Projects are implemented to achieve strategic goals of an organization, which can be:

• Market Demand • Environmental consideration • Business needs• Social needs• Costumer request• Legal requirement, etc

Project Management Office (PMO)

• In an organization PMO works toward standardizing project management governance and provide resources to project managers.

• The office’s role can be:• Supportive • Controlling • Directing

Business Value

• Business value refers to both the tangible and intangible value of a business.

• For example, assets, capital, equity, and brand, recognition, and good well.

• An effective management of portfolio, programs, and projects is needed to achieve maximum business value.

Business Value

How is business value related to project management

Business Value

Since organisational stratigies are

eventually linked to organization’s

business values, as a PM you keep the

BV in mined when managing a project.

Responsibility of Project Manager

Project manager is the person who is leading the team that is assigned to achieve the objective of the project

In general the responsibility of a project manager is to satisfy the needs:

1. Task needs

2. Team needs

3. Individual needs

Interpersonal skills of a PM

Interpersonal skills of a PM

• Leadership• Team Building • Motivation • Communication • Influencing• Decision making

• Political &cultural awareness

• Negotiation • Trust Building • Conflict

management • Coaching

Project Management Body of Knowledge

PMBOK Guide contains project

management standards that are

applicable to most projects most

of the time and across many types

of industries.

Lesson 2Wrap up

1. Introduction

1.1 The Purpose of PMBOK Guide

1.2 What is a project?

1.3 What is project management

1.4 Relationship between project, program, and portfolio

1.5 Relationship between project management and operations

1.6 Business value

1.7 Role of the project manager

1.8 Project management body of knowledge