Project Management By: Michael Pantazis

Introduction Project management is the application of knowledge, skills, tools, and techniques to the project activities that are necessary to meet the project requirements The primary purpose of a project is to make or implement change within the organization, typically to move the organization toward the achievement of its strategic objectives.

Triple Constraint Model The triple constraint model can be used to best describe the limitations imposed upon a project manager: to provide quality while staying on schedule, under budget, and in scope. no one side of the triangle can be altered, without affecting any of the other respective sides of the triangle

Project Management Life Cycle Initiating Processes Nature and scope of development Planning Processes Defining and refining the objectives Executing Processes Executing the work previously defined Controlling Processes Measure performance of the execution initiatives Closing Processes Formal acceptance of the project

Project Risk Management Risk management can be best summed up as the process of identifying the risks associated with important business processes and reducing them to acceptable levels The RBS is a hierarchical diagram that helps present and categorize high-level risks. It also stands as a tool used to jumpstart the process of risk planning

Project Risk Management (cont.) Risk Response Strategies Avoid Avoid risk altogether Transfer Transfer ownership to another party Mitigate Reduce the probability or impact Accept Deal with risks that can’t be reduced, mitigated, transferred, or avoided

Project Methodologies & Frameworks Stage-Gate Divides the effort required Organizational Project Management Maturity Model Choose best practices that apply to PM needs Critical Chain Realistic time & cost estimates

Project Management & IT Governance Project Governance is used to depict the processes that need to exist in order for a successful project to be completed provide a blueprint for the relationships between all the internal and external groups that are involved in a project describe and document the proper flow of information regarding the project status to all project stakeholders extremely useful in ensuring that the appropriate review is carried out to reach resolutions for issues