MET 437 Lecture Notes - Lecture 6: Prince2, Project Charter, Project Management Body Of Knowledge

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Planning Phase
Second phase in the project life cycle. It involves creating of a set of plans to help guide your team
through the execution and closure phases of the project. The plans created during this phase will help
you to manage time, cost, quality, change, risk and issues. Tactical mindset that integrates a number of
subplans to identify, coordinate, authorize, manage,
Planning Phase Questions
What work needs to be done?
Who will do this work?
What resources will be needed to do the work?
When will they do the work?
How long will it take?
How much will it cost?
Does the time, money, and resources invested support the project's MOV?
Project Governance
Structure provides a framework to guide all of the project decisions. This often includes the formation of
a governance committee that represents the different interests of the project stakeholders. This group is
responsible and accountable for ensuring that the project aligns with the organization's strategy and
meets its intended MOV as documented in the business case.
**A project governance committee also establishes stakeholder roles, monitors progress, and ensures
that the project has adequate funding and resources.
Project Charter
The project's MOV, infrastructure, and project objectives are documented in the project charter. If
approved, the project charter serves as an agreement among the project stakeholders.
Organizational Governance
Provides a framework for ethical decision making by setting transparent boundaries that define
stakeholder's roles, responsibilities, and accountabilities Organizations create an organizational
governance structure to set strategic direction and to guide performance and larger corporations make
it a legal document(Sarbanes Oxley)
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Organizational Governance Precepts
Set organizational strategy and objectives
Provide resources (people, processes, tools, and technology) to achieve the organizational strategy and
objectives
Monitor and control activities to ensure that the organizational resources are used efficiently and
effectively.
Project Governance
Framework to ensure that a project aligns with a chosen business strategy while ensuring that the time,
money, and resources provide real value to the organization. It also is an important component of the
project's infrastructure that defines accountability and responsibility.
Project Governance Defines
*Structure-(PRINCE2 or PMBOK)
*AuthorizationProject stakeholders must have a clear understanding of their authority. For example,
who will authorize the acceptance of project deliverables or give approval for the project to continue to
the next phase?
*Oversight and AccountabilityIf the project stakeholders know their own role and responsibilities, as
well as everyone else's, then people can be held accountable.
*Decision MakingWith clearly defined roles and responsibilities, a reporting system must be in place
so that project stakeholders can assess the current status of the project and forecast projected
outcomes.
*ResourcesA good project governance framework ensures that the project has adequate resources.
Project Management Office (PMO)
Which is a group or department within the organization that oversees all of the project management
standards, methods, and policies based on
Steering Committee
Formed to represent the interests of different stakeholders. (PRINCE 2 refers to this as Project Board)
Project Board
Board that can include a number of stakeholders, but roles of the customer, senior user, and senior
supplier must be represented.
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Attributes of a Successful Project Manager
The ability to communicate with people
The ability to deal with people
The ability to create and sustain relationships
The ability to organize
Project Team Attributes
Technology skillsDepending on the nature of the project, members with specific technology skill
setsengineers, programmers, systems analysts, network specialists, and so forth
Business/organization knowledgeAlthough technology skills are important, it is also important to
have people or access to people with domain knowledge.
Interpersonal skillsThe ability to communicate with other team members and other stakeholders is
an important skill for team members.
Functional Project Management Organizations
Functional organizational structure is to be managed in the current organization hierarchical structure,
once the project begins operation, the various components of the project are taken by the functional
units, each unit is responsible for its charged component. If the the project established, a functional area
play a dominant role, functional areas on completion of the project, senior managers will be responsible
for project coordination.
Functional Project Management Advantages
Increased flexibilitySubject matter experts and other resources can be assigned to the project as
needed.
Breadth and depth of knowledge and experienceIndividuals from a particular subunit can bring a
wealth of knowledge, expertise, and experience to the project.
Less duplicationCoordination of resources and activities can lead to less duplication of resources
across projects since specialization of skills and resources are housed within a functional area.
Functional Project Management Disadvantages
Determining authority and responsibilityAs was mentioned previously, determining who has
authority and responsibility for a project must be resolved at the outset, especially when the project
involves more than one functional area.
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Document Summary

It involves creating of a set of plans to help guide your team through the execution and closure phases of the project. The plans created during this phase will help you to manage time, cost, quality, change, risk and issues. Tactical mindset that integrates a number of subplans to identify, coordinate, authorize, manage, Structure provides a framework to guide all of the project decisions. This often includes the formation of a governance committee that represents the different interests of the project stakeholders. This group is responsible and accountable for ensuring that the project aligns with the organization"s strategy and meets its intended mov as documented in the business case. **a project governance committee also establishes stakeholder roles, monitors progress, and ensures that the project has adequate funding and resources. The project"s mov, infrastructure, and project objectives are documented in the project charter. If approved, the project charter serves as an agreement among the project stakeholders.

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