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FIT2002 Study Guide - Final Guide: Project Management, Project Risk Management, Executive Sponsor

15 Pages
69 Views
Summer 2018

Department
Information Technology
Course Code
FIT2002
Professor
Dr Anthony Wong
Study Guide
Final

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Introduction to project management
A project is a temporary endeavour to create a unique product, service or result
- Fixed start and end date
- Produces a unique product or service
- Has a fixed budget
An operation is the work done to sustain a business
- Ongoing execution of activities
- Provide a repetitive service or product
- Operations must earn profit
Project stakeholder is a person who has an interest or ‘stake’ to the outcome of the project
Project managers work with project sponsors and the project team to achieve project goals
Project management is the application of knowledge areas, skills, tools and techniques for project
activities to meet project requirements
Project sponsors set the direction and funding of the project
Program coordinates related projects to achieve benefits that is not available from individual
projects
Program manager provide leadership and direction to project managers leading projects within a
program
3 main goals of project:
- Time: Reducing time taken to complete project may increase cost and reduce scope
- Cost: Reducing cost of project may increase time and reduce scope
- Scope: Increase scope of project (adding features) will increase time and cost
Triple constraints: The balancing of scope, time and cost goals
10 Project Management Body of Knowledge (PMBOK) knowledge areas:
- Project scope management: Processes involved in defining and controlling what is or is not
included in the project
- Project time management: Processes to ensure that the project follows a schedule to
ensure it completes on the designated time
- Project cost management: Processes required to ensure the project is completed within the
approved budget
- Project quality management: Makes sure project will satisfy needs for which it was
undertaken
- Project human resource management: making the most from people involved in the project
- Project communications management: managing communications with stakeholders
- Project risk management: identifying, analysing and responding to risk in a project and in
the best interest of projects objectives
- Project procurement management: Acquiring goods and services from an outside source
- Project stakeholder management: Managing communications with stakeholder
- Project integration management: A collection of processes to make sure elements in a
project are coordinated
Organisational structures, project and product lifecycles
Organisational frames:
- Structural frame: Roles and responsibilities across the company, uses organisational charts
- Human resource frame: Balancing the needs of the organisation and the needs of people
- Political frame: Coalition (the joining together of two or more groups) of individuals and
interest groups
- Symbolic frame: Meanings and symbols related to events. Culture, traditions, languages,
etc. are all part of this frame.
3 organisation structures:
- Functional: Staff report to functional managers (eg. entertainment, marketing, IT)
- Project: Staff report to project managers
- Matrix: Staff report to both project and functional managers
- A deliverable is the unique product, service produced from the project
Project management process groups
- Initiating: Choosing the right project, identifying stakeholders, getting project sponsor and
assigning project manager, and officially starting the project
- Planning: Making workable plans for the entire project. Every knowledge area needs
development on plans
- Executing: Coordinate team to carry out project plans like following the WBS. Outputs of this
phase will be the projects deliverables.
- Monitoring and controlling: Monitoring the projects progress and performance and makes
sure it meets project objectives. Outputs include monitoring progress and taking action.
- Closing: Bringing the project to an official end. Outputs of this phase include updating
organisation’s assets and closing procurements
Project life cycle phases:
1. Define project goal (Initiating)
2. Plan project
3. Execute project
a. Planning
b. Analysis
c. Design
d. Implementation
e. Maintenance
4. Close project
Systems development life cycle is a type of product life cycle which helps developing and maintain
information systems. It can follow:
- Predictive life cycle: Project’s scope is clearly articulated, can be used to predict schedule
and cost
o Waterfall model: well-defined, linear stages of systems development
o Spiral model: stages follow a spiral approach where stages are recycled
- Adaptive Software Development life cycle: Requirements are not clear, mission driven using
time-based cycles to meet target dates
o Agile model: Based on evolving requirements, can be very flexible (Scrum method)
Project driven organisations rely a lot on their projects to generate income
Non-project organisations rely a lot more on their production/operations to generate income

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Description
Introduction to project management A project is a temporary endeavour to create a unique product, service or result Fixed start and end date Produces a unique product or service Has a fixed budget An operation is the work done to sustain a business Ongoing execution of activities Provide a repetitive service or product Operations must earn profit Project stakeholder is a person who has an interest or stake to the outcome of the project Project managers work with project sponsors and the project team to achieve project goals Project management is the application of knowledge areas, skills, tools and techniques for project activities to meet project requirements Project sponsors set the direction and funding of the project Program coordinates related projects to achieve benefits that is not available from individual projects Program manager provide leadership and direction to project managers leading projects within a program 3 main goals of project: Time: Reducing time taken to complete project may increase cost and reduce scope Cost: Reducing cost of project may increase time and reduce scope Scope: Increase scope of project (adding features) will increase time and cost Triple constraints: The balancing of scope, time and cost goals 10 Project Management Body of Knowledge (PMBOK) knowledge areas: Project scope management: Processes involved in defining and controlling what is or is not included in the project Project time management: Processes to ensure that the project follows a schedule to ensure it completes on the designated time Project cost management: Processes required to ensure the project is completed within the approved budget Project quality management: Makes sure project will satisfy needs for which it was undertaken Project human resource management: making the most from people involved in the project Project communications management: managing communications with stakeholders Project risk management: identifying, analysing and responding to risk in a project and in the best interest of projects objectives Project procurement management: Acquiring goods and services from an outside source Project stakeholder management: Managing communications with stakeholder Project integration management: A collection of processes to make sure elements in a project are coordinated
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