Question

Table 1.1

Module Three covers refining your project schedule and fine-tuning resources. Table 1-1: Project Management Process Group and Knowledge Area Mapping (PMBOK Guide® on page 556) provides you with a very specific guideline concerning what task is due for each knowledge area throughout the five projec management process groups. As you can determine from Table 1-1, a large majority of the tasks are complete during the planning process group Describe and explain how sound industry standards or best practices help ensure that a project stays within budget, on schedule, and within scope. In addition, integrate into your discussion the implications that using a sound PMIS plays in ensuring project success Projeol Llarigarnani Pro aae Groupa Inlialing Group Process Group 4. Project or Phase Iniegration Management Work ธ.. Pripa Scope Marngement 52 Collect Requirements 53 Detne Scope A Create WB & Projact Scheduie 6.1 Pas Sched Sched A 62 Detne Acthvites Actvites G4 Estmale Aciity Durations 6 5 Deveiop Projact Cost 74 Control Cosls 2 Essmate Costs Project Management 9. Project & Contro Managerment 1G Projec 10 2 age 0 3 Menor Mansgement Management 1. Project Rsk Risk Respn 22 Conduc Procunenent t Process Groups Monitoring and Process Group 5 Monitor and4.7 Close Project Process Process Group Process Group 4.1 Develop Project Charter 4. Project 42 Develop Project 4.3 Direct and Management Plan Manage Project Control Projector Phase 4.4 Manage Project4.6 Perform Integrated Change 5.5 Validate Scope 5.6 Control Scope 6 Control 7.1 Plan Cost 74 Control Costs 2 Estimate Costs 7.3 Detemine 8. Project 8.1 Plan Quality 8.2 Manage Quality 83 Control Quality 9. Project 9.1 Plan Resource 9.3 Acquire 9.6 Control 94 Develop Team Activity Resources9.5 Manage Team 10. Project 10.3 Monitor 11. Project Risk 11.6 Implement11.7 Monitor Risks 12. Project 12.2 Conduct 123 Control 13. Project 3.1 Identify 13.2 Plan 13.3 Manage 13.4 Monitor

Answer 1

Projects are temporary undertaking with a defined start and end dates and produces a unique product or service.   Projects can vary immensely in terms of complexity & duration and can be from any industry. A sound industry practice outlines a very systematic process of managing projects successfully. There are many standards for managing projects; however, the most popular and widely used project management methodology is that of Project Management Institute (USA).

As is clear from the images depicted in the question, the PMI project management framework comprises of 5 major process groups:

1. Initiating
2. Planning
3. Executing
4. Monitoring & Controlling
5. Closing

These five process groups cut across all the 10 knowledge Areas, namely:

1. Integration Management
2. Scope Management
3. Schedule Management
4. Cost Management
5. Quality Management
6. Resource Management
7. Communications Management
8. Risk Management
9. Procurement Management
10. Stakeholder Management

These standards and process have evolved over decades after incorporating the learning from millions of projects implemented worldwide and hence are robust framework and guidelines for successfully implementing the project within the triple constraint of scope, schedule ad budget.

In this process we follow the sequence of initiating -> Planning -> Executing-> Monitoring & Controlling -> Closing, however these are iterative and all these generally happen in parallel for different aspects of the project. This allows covering the full scope of the project without allowing for scope creep while taking care of progressive elaboration.

In the initiating phase high-level plan is created, project manager is on boarded and project charter is signed. In the Planning Phase a detailed plan is created as to how would be plan for all the knowledge areas and separate elaborate plans are made for scope, schedule, cost, communication , stakeholder management etc. Risk identification, analysis and response planning is done and iterations are made to update the plans in view of the identified risks and their responses. Execution by following the plan ensures projects stay on track by taking feedback from stakeholders, continuous monitoring & controlling enables the project to deliver the value intended while initiating the project. Closing ensure formal project closure, handover to operations and documentation of lessons learnt in order to make future projects even more seamless and successful. PMIS or the Project Management Information System enables the company to leverage standard forms, reports, processes to expedite the communication, engagement and reporting of the project progress and tracking for achieve successful results faster.