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Project Management, PMI Approach (PMP) Project Initiation Phase

Resources: Book: PMP in Depth by Paul Sanghera Book: The PMP Exam, How to Pass on Your First Try Project Management Courses in Undergraduate Study Work Experience. Just E.T.C for Business, Education, Technology, and Entertainment Solutions.

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Project Management, PMI Approach (PMP) Project Initiation Phase

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  1. Resources: Book: PMP in Depth by Paul Sanghera Book: The PMP Exam, How to Pass on Your First Try Project Management Courses in Undergraduate Study Work Experience Just E.T.C for Business, Education, Technology, and Entertainment Solutions Project Management, PMI Approach (PMP)Project Initiation Phase sayed@justetc.net, www.justetc.net Sayed Ahmed BSc. Eng. in CSc. & Eng. (BUET, Bangladesh) MSc. in CSc. (University of Manitoba, Canada) http://sayed.JustEtc.net http://www.JustETC.net

  2. References & Resources • Book: PMP in Depth by P. Sanghera • Read on 2007 • Book: The PMP Exam, How to Pass on Your First Try • Read on 2007 • A Project Management Course in Undergraduate Study • Articles from the Internet • Work Experience sayed@justetc.net, www.justetc.net

  3. Learning Objectives • How Does a project start? • How is a project/solution selected? • Some Considerations • Will a project succeed? • Do we need to consider project stakeholders? • How is a project formalized? • Project Charter • Project Scope Statement sayed@justetc.net, www.justetc.net

  4. Our Services

  5. How Does a project start? • Business Requirements • Opportunities • Problem sayed@justetc.net, www.justetc.net

  6. How Does a project start? • Business Requirements • Example: • The government requires airline companies to implement safety-management systems. • A company needs to find out the success of their ecommerce web-site • Opportunities • To take advantage of an opportunity like technology breakthrough. • Example • many projects may be planned targeting iPhone or iPad • Problem • To reduce/eliminate a problem. • Airport x faces 2/3 accidents every year, • the airport authority may wish • to perform a project to identify causes and develop solution sayed@justetc.net, www.justetc.net

  7. How is a project/Solution selected? • A particular project may have • different alternative solutions. • A company may have • multiple project plans • and they need to select one of them. • But How? • Scoring Model • Benefit contribution • Economic models sayed@justetc.net, www.justetc.net

  8. How is a project Solution selected? • Scoring Model • Identify some matrix to find • which project strategy is better • or which project/solution will be more profitable • Assign values for these parameters • and select one that provides greater value • Benefit contribution • Use cost benefit analysis • short term and long term cost benefit analysis sayed@justetc.net, www.justetc.net

  9. How is a project Solution selected? • Economic models • Benefit Cost Ratio • Cash Flow • Internal Return Rate • Present Value and Net Present Value • Opportunity Cost • Discounted Cash Flow • Return on Investment sayed@justetc.net, www.justetc.net

  10. Some Considerations • Will a project succeed? • There are many mathematical models • to justify/predict the success of a project • Do we need to consider project stakeholders? • Yes. Because the project may • benefit some people • and may cause disadvantages to some people. • Project managers need to • manage and convince both of the groups • How is a project formalized? • A project charter is developed • to present the business needs and the outcome. • It is just a document that is reviewed before (or for) project authorization sayed@justetc.net, www.justetc.net

  11. Project Charter • Input to Developing the project Charter • Contract • Statement of Work • Enterprise environmental factors • Organizational process assets sayed@justetc.net, www.justetc.net

  12. Project Charter • Tools for Developing the project Charter • Project Selection Methods • Project Management Methodology • Project management information systems • Expert Judgment sayed@justetc.net, www.justetc.net

  13. Project Charter • Output of Developing the project Charter • Project Justification • Project description • Project requirements • Assumptions • High level schedule and milestonesBudget • Proposed project manager sayed@justetc.net, www.justetc.net

  14. Project Scope Statement • Preliminary Project Scope Statement • After a project charter is authorized • A Preliminary Project Scope Statement • may need to be developed • It may be discussed • with the project stakeholders to facilitate project success • Inputs to Developing Project Scope Statement • Similar to the inputs • to Developing the project Charter • Tools and Techniques • Project Management Methodology • Project Management Information System sayed@justetc.net, www.justetc.net

  15. Project Scope Statement • Preliminary Project Scope Statement lists • Objectives • The product • Requirements of the product • Project boundaries • Initial work breakdown structure • Schedule • Team • Risks • Cost estimate sayed@justetc.net, www.justetc.net

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