PM Fundamentals & Frameworks

Project

A project is a temporary endeavor undertaken to create a unique product, service, or result.

Program

A program is a group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually.

Portfolio

A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.

Operations vs Projects

Operations are ongoing, repetitive activities that sustain an organization, while projects are temporary endeavors that create unique outputs.

Project Management

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.

Project Life Cycle

The project life cycle is the series of phases that a project passes through from its start to its completion.

Predictive Life Cycle (Waterfall)

A predictive life cycle is a plan-driven approach where the project scope, schedule, and cost are determined early and changes are carefully managed.

Iterative Life Cycle

An iterative life cycle is an approach where the project scope is generally determined early, but time and cost estimates are routinely modified as understanding increases through repeated cycles of work.

Incremental Life Cycle

An incremental life cycle is an approach where the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame.

Adaptive Life Cycle

An adaptive life cycle is a change-driven approach that is both iterative and incremental, where the detailed scope is defined and approved before the start of each iteration.

Hybrid Life Cycle

A hybrid life cycle is a combination of predictive and adaptive approaches, using elements of both based on the nature of the work.

Process Groups

Process Groups are a logical grouping of project management processes categorized into five groups: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Initiating Process Group

The Initiating Process Group consists of processes performed to define a new project or a new phase of an existing project by obtaining authorization to start.

Planning Process Group

The Planning Process Group consists of processes performed to establish the total scope of the effort, define objectives, and develop the course of action required to attain those objectives.

Executing Process Group

The Executing Process Group consists of processes performed to complete the work defined in the project management plan to satisfy project requirements.

Monitoring and Controlling Process Group

The Monitoring and Controlling Process Group consists of processes required to track, review, and regulate the progress and performance of the project, identify areas where changes to the plan are needed, and initiate corresponding changes.

Closing Process Group

The Closing Process Group consists of processes performed to formally complete or close the project, phase, or contract.

Knowledge Areas

Knowledge Areas are the ten identified areas of project management expertise defined in the PMBOK Guide, each encompassing a set of related processes.

Project Management Office (PMO)

A Project Management Office (PMO) is an organizational structure that standardizes project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.

Organizational Project Management (OPM)

Organizational Project Management (OPM) is a framework for executing strategy through projects, programs, and portfolios in conjunction with organizational enablers to achieve strategic goals.

Enterprise Environmental Factors (EEFs)

Enterprise Environmental Factors (EEFs) are conditions, not under the immediate control of the project team, that influence, constrain, or direct the project.

Organizational Process Assets (OPAs)

Organizational Process Assets (OPAs) are the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.

Work Performance Data

Work performance data is the raw observations and measurements identified during activities performed to carry out the project work.

Work Performance Information

Work performance information is the performance data collected from various controlling processes, analyzed in context, and integrated based on relationships across areas.

Work Performance Reports

Work performance reports are the physical or electronic representation of work performance information compiled in project documents, intended to generate decisions, actions, or awareness.

Deliverables

A deliverable is any unique and verifiable product, result, or capability to produce a service that is required to be produced to complete a process, phase, or project.

Project Management Plan

The project management plan is the document that describes how the project will be executed, monitored and controlled, and closed.

Subsidiary Plans

Subsidiary plans are the individual management plans that are components of the overall project management plan, each addressing a specific Knowledge Area or management function.

Baselines (Scope, Schedule, Cost)

A baseline is the approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison to actual results.

Tailoring

Tailoring is the deliberate adaptation of the project management approach, governance, and processes to make them more suitable for the given environment and the work at hand.