Develop Projet Charter

Develop Project Management Plan

Direct and Manage Project Work

Monitor and Control Project Work

Perform Integrated Change Control

Close Project or Phase

Net Present Value

MAKING CHANGES

Money returned over years is calculated into Present Value and they are accumulated for all years.

1. Prevent the root cause of changes, to proactively eliminate future need for changes

Total amount should be bigger than the initial investment.

2. Identify change

3. Look at the impact of the change on a project management plan

Internal Rate of return

4. create a formal and written change request

~ IRR with HIGHER value is better

5. Perform integrated change control

* asses the change - is it part of project at all

Project selection methods

* is there already reserve for it? If yes, then no change

Description: Creating a Project charter document from preliminary Project statement of work,

Description: Using Project Charter and subsidiary plans we create Project Management Plan

Description: Performing the work from Project Management Plan and implementing approved changes

Description: Finalize all activities. Provides lessons learned, formal ending of project and release of resources

~ Benefit measurement methods

* look for options/alternatives

Business case and any Agreements we have (Contracts).

Description: Process of reviewing all change requests, approving changes, managing changes

~~ Murder board

* the change is approved or rejected

~ process of leading and performing the work defined in the project management plan and

Description: Monitoring the progress of the project and proposing changes to bring the project

to deliverables and documents and writing approved or declined changes to change log

~ assembling project records

~~ peer review

* update change status in a change log

~ outputs from other processes - baseline and subsidiary plans from other knowledge areas

implementing approved changes to achieve the project's objectives

back in line with the planned baselines

~ determine if project was a success or failure

~~ scoring models

* adjust pm plans and project documents

Project sponsor creates the Project charter.

~ document lessons learned

~~ economic models

6, Communicate change to shareholders

OUTPUTS:

~ project changes need to be approved by CCB and can be:

~Change Control Board is a group of people that are in charge of approving change requests.

~ archive all records

7. Manage project according to changes

~ SOW - project statement of work

Purpose of the project management plan:

~~ corrective actions

~All changes must be written and approved so that we can implement them.

~ Constrained optimization methods

~~ internal projects - project initiator or sponsor

~ communicates intent of the project

~~ preventive actions

~~ Linear programming

~~ external projects - customer as part of a bid document

~ serves as a guide for the project manager

~~ defect repairs

~ Configuration control is focused on specification of deliverables (features and functions)

~~ Integer programming

~~ it references:

~ provides project structure

and the processes (how work is done) to complete deliverables (product)

~~ Dynamic programming

~~~ business need

~ provides documentation

~~ configuration identification - documentation and identification of the product and its components

~~ Multi-objective programming

~~~ product scope description

~ includes baselines (scope, cost, schedule), 10 subsidiary management plans, process improvement plan

~~ configuration status accounting - includes the documentation of the product information

~~~ strategic plan

~~ configuration verification and auditing - performance and functional attributes of the product

Payback period

Planning participants

~ less is better

OUTPUTS:

~ project manager - leadership, facilitation, organization, direction, expert judgment

~ change control is focused on identifiying, documenting, approving or rejecting changes to the

~ formally authorizes existance of the project

~ project team members - knowledge of project work, time estimating, risk assesment, expert judgment

scope, cost, time and contract

Cost-benefit analysis

~ provides manager with authority to obtain organizational resources

~ customers - objectives, quality requirements, influence on budget and schedule

~ greater than 1 is good

~ project requirements approval person

~ management - budget, resources, project management methodology, quality requirements, project plan approval

~ change requests are always documented

~ project sponsor

~ approved and unaproved change request both go to change log

Economic value added

~ high level description of the project

~ whether project returns more value than the initiative has costed

~ purpose of the project

Opportunity cost

~ milestone schedule

~ opportunity given up by chosing one project over the other.

~ stakeholders influence

~ It is a value of a PROJECT NOT SELECTED.

~ functional organizations

~ summary budget

Sunk costs

~ costs already spent above planned value.

~ Not calculated when new manager starts the project.

Working capital

~ amount of money available for investement.

Depreciation (amortizacija)

~ straight line depreciation - same amount of depreciation over years

~ accelerated depreciation - faster than straight

~~ double declining balance

~~ sum of the years digits