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Follow APA format and provide 1.5 to 2 page response for each task

Open Posted By: ahmad8858 Date: 05/01/2021 High School Homework Writing

Task 1:

Please respond to the following discussion with a well thought out response with relating to at least one source (cite using APA)

  • Research the Internet and locate an article(s) that discusses factors to project success or failure. Identify 2-3 factors and elaborate on them to your peers. Note: don't just copy and paste - synthesis into your own words.
  • Based on what you learned from the week introduction, PMI journal article, and other research, how would you define the main purpose of monitoring and controlling a project


Task 2

Provide a graduate-level response, utilizing material from the weekly reading to each of the following questions:

1) What is the definition of a project? How are projects different from ongoing operations?

2) Identify the four (4) elements of a project as provided within the Kloppenborg definition. How would you describe/define these four elements?

3) List and describe four common causes of project failure.

4) Describe and contrast project managers and functional managers.

Category: Accounting & Finance Subjects: Behavioral Finance Deadline: 12 Hours Budget: $150 - $300 Pages: 3-6 Pages (Medium Assignment)

Attachment 1

CONTEMPORARY PROJECT MANAGEMENT, 4E

Timothy J. Kloppenborg

Vittal Anantatmula

Kathryn N. Wells

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‹#›

Introduction to Project Management

Chapter 1

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‹#›

The Element of Discipline

“A key to success in project management, as well as in mountain climbing, is to identify the pillars that will be practiced with discipline...I believe that project management is about applying common sense with uncommon discipline.”

Michael O’Brochta, PMP

founder of Zozer Inc.

previously senior project manager at the Central Intelligence Agency

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Deaths climbing Mt. Aconcagua are an extreme example of consequences associated with a lack of discipline

Discipline to act on the earlier decision to curtain summit attempts after the agreed-to-turn-around time or in severe weather

Avoid pressure to cast aside or shortcut project management practices

Practices, like planning, are the pillars of project management discipline

Managing projects at the CIA involved short notice to acquire unspent funds

Discipline required needed planning and quick action

The top 2 percent of project managers spend twice as much time planning as the other 98 percent

Identify those pillars that we will decide to practice with the required levels of discipline

3

Chapter 1 Core Objectives

Define a project and project management and tell why organizations would use them

Describe major activities and deliverables, at each project life cycle stage

List the 10 knowledge areas and 5 process groups of the Project Management Body of Knowledge (PMBOK)

Describe project success and failure, as well as reasons both may occur

Contrast predictive and adaptive project life cycles

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4

Chapter 1 Behavioral Objectives:

Identify project roles and key responsibilities for project team members

Describe the importance of collaborative effort throughout a project

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What is a project?

Projects require:

an organized set of work efforts.

progressively elaborated detail.

a defined beginning and ending.

a unique combination of stakeholders.

Projects are subject to time and resource limitations

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project – “a temporary endeavor undertaken to

create a unique product, service, or result.” PMBOK® Guide

stakeholders – “an individual, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.” PMBOK® Guide

A project requires an organized set of work efforts.

Projects require a level of detail that is progressively elaborated upon as more information is discovered.

Projects are subject to limitations of time and resources such as money and people.

Projects have a defined beginning and ending.

A project has a unique combination of stakeholders

6

Project Management (PM)

Work processes

Tradeoffs among

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Project management – “the application of knowledge, skills, tools and techniques to project activities to meet project requirements.” PMBOK® Guide

initiate, plan, execute, monitor/control, close

Scope Schedule

Quality Resources

Cost Risks

PM includes work processes that initiate, plan, execute, and close work

Work processes require tradeoffs among the scope, quality, cost, and schedule of the project

PM includes administrative tasks for planning, documenting, and controlling work

PM includes leadership tasks for visioning, motivating, and promoting work associates.

PM knowledge, skills, and methods apply for most projects

7

Project Management (PM)

Administrative tasks

Leadership tasks for work associates

Knowledge, skills, and methods apply for most projects

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Planning, documenting controlling

Visioning, motivating, promoting

PM includes administrative tasks for planning, documenting, and controlling work

PM includes leadership tasks for visioning, motivating, and promoting work associates.

PM knowledge, skills, and methods apply for most projects

8

History of PM

Emerged as a formal discipline in the 1950s

Developed for aerospace and construction

Involved determining and controlling project schedules

In 2001, Agile was created for adaptive project planning, originally for software projects

In recent years, more focus has been given to the “soft skills” of communications, leadership, and teamwork

© 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

PM emerged as a formal discipline in the 1950s

Techniques for planning and controlling schedules and costs were developed for huge aerospace and construction projects in the 1950s and 1960s

Early PM involved determining project schedules based on order of project activities

Manufacturing, research and development, government, and construction projects used and refined management techniques

Software companies offered software for planning and controlling project costs and schedules in the 1980s and 1990s

Risk management techniques for complex projects have been applied to less complex projects

Communication and leadership playa major role in project success

Rapid growth and change in information technology and telecommunications fueled use of PM in the 1990s and 2000s

9

How Can Project Work Be Described?

Projects versus operations

Soft skills and hard skills

Authority and responsibility

Project Life Cycle

Agile (adaptive) vs. Waterfall (predictive) approach

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Projects are temporary and unique; operations are more continuous.

Project managers need “soft skills” and “hard skills” to be effective.

Project managers frequently have more responsibility than authority.

Projects go through predictable stages called a life cycle.

10

Projects Versus Operations

Projects are temporary

Projects have routine and unique characteristics

Operations are ongoing work

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Operations consist of the ongoing work needed to ensure that an organization continues to function effectively

11

Soft Skills and Hard Skills

Soft skills activities

Communication

Leadership

Conflict resolution

Hard skills activities

Risk analysis

Quality control

Scheduling work

Budgeting work

© 2019 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

A successful project manager needs both soft and hard skills along with the judgment of when each is more necessary.

Training, experience, and mentoring are instrumental in developing necessary skills.

12

Authority and Responsibility

One person being assigned accountability

Project managers negotiate with functional managers

Strong communication and leadership skills to persuade subordinates

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Functional manager – “someone with management authority over an organizational unit.…the manager of any group that actually makes a product or performs a service.” PMBOK® Guide

Projects are most effectively managed with one person being assigned accountability

Project managers negotiate with functional managers

A project manager needs to develop strong communication and leadership skills to persuade subordinates to focus on the project when other work beckons.

13

Project Life Cycle (PLC)

Project life cycles vary among different disciplines but generally are comprised of the same general stages

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Project life cycle – “the series of phases that a project goes through from its initiation to its closure.” PMBOK® Guide

Life cycle allows for control to assure that the project is proceeding in a satisfactory manner and that the results are likely to serve its customer’s intended purpose

14

Project Life Cycle Stages

Selecting and initiating

Planning

Executing (includes monitoring/controlling)

Closing and realizing

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Selecting and initiating— a project is selected from an emerging idea, planned at a high level, and key participants commit to it in broad terms

Planning—starts after the initial commitment, includes detailed planning, and ends when all stakeholders accept the entire detailed plan.

Executing—includes authorizing, executing, monitoring, and controlling work until the customer accepts the project deliverables.

Closing and realizing—all activities after customer acceptance to ensure project is completed, lessons are learned, resources are reassigned, contributions are recognized, and benefits are realized.

15

Project Life Cycle (PLC)

A project must gain approval to move from one stage to the next

Projects are measured at additional points

Selection

Progress reporting

Benefits realization

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Predictive (Plan-Driven) PLC

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Predictive extreme        waterfall

Product is well-understood

All planning precedes all executing

17

Adaptive (Change-Driven) PLC

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Adaptive extreme        agile

Early results lead into planning later work

18

Midland Insurance PLC for Quality Improvement Projects

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Understanding Projects

Project Management Institute (PMI)

Project Management Body of Knowledge (PMBOK)

PMI Talent Triangle

Selecting and Prioritizing Projects

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Understanding Projects

Project Goals and Constraints

Defining Project Success and Failure

Using MS Project

Types of Projects

Scalability of Project Tools

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The Project Management Institute (PMI)

The largest professional organization

Produces A Guide to the Project Management Body of Knowledge (PMBOK® Guide)

Talent Triangle—Technical PM, Leadership, & Strategic and Business Management

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Over 650,000 members and credential holders in 185 countries

Publishes and regularly updates A Guide to the Project Management Body of Knowledge (PMBOK® Guide)

22

The Project Management Institute (PMI)

Project Management Professional (PMP®) certification

Certified Associate in Project Management (CAPM) certification

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Project Management Body of Knowledge (PMBOK®)

Project Life Cycle

5 process groups

10 knowledge areas

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Project management process group – “a logical grouping of the project management inputs, tools and techniques, and outputs.” PMBOK® Guide

PMBOK® Process Groups

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Initiating— “define a project or a new phase by obtaining authorization”

Planning— “establish the project scope, refine objectives and define actions to attain objectives”

Executing— “complete the work defined to satisfy project specifications”

Monitoring and controlling— “track, review, and regulate progress and performance, identify changes required, and initiate changes”

Closing— “finalize all activities to formally close project of phase”

PMBOK®’s 10 Knowledge Areas

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Integration management - “processes and activities to identify, define, combine, unify, and coordinate the various processes and project management activities”

Scope management - “processes to ensure that the project includes all the work required, and only the work required, to complete the project successfully”

Schedule management - “processes to manage timely completion of the project”

PMBOK® Knowledge Areas

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Cost management – “processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget”

Quality management - “processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken”

Resource management - “processes that organize, manage, and lead the project team”

PMBOK® Knowledge Areas

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Communications management - “processes to ensure timely and appropriate planning, collection, creation, distribution, storage, retrieval, management, control, monitoring, and ultimate disposition of project information”

Risk management - “processes of conducting risk management planning, identification, analysis, response planning, and control…to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events in the project”

PMBOK® Knowledge Areas

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Procurement management - “processes to purchase or acquire products, services, or results from outside the project team”

Stakeholder management - “processes to identify the people, groups, or organizations, that could impact or be impacted by the project, analyze their expectations and impact, and develop strategies for engaging them and managing conflicting interests”

Selecting and Prioritizing Projects

Identify potential projects

All parts of the organization are involved

Determine which projects align best with organizational goals

Organizational priorities:

Understood

Communicated

Accepted

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?

Selecting and Prioritizing Projects

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What value does each potential project bring to the organization?

Are the demands of performing each project understood?

Are the resources needed to perform the project available?

Is there enthusiastic support both from the external customers and from one or more internal champions?

Which projects will best help the organization achieve its goals?

Project Goals and Constraints

Projects are undertaken to accomplish specific goals

Scope and quality are performance goals

Subject to constraints of time and cost

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Scope – “the sum of the products, services, and results to be provided as a project.” PMBOK® Guide

Quality – “the degree to which a set of inherent characteristics fulfills requirements.” PMBOK® Guide

Scope and quality measure performance and should result in outputs that satisfy customers

Consider scope and quality subject to constraints of time and cost

32

Project Goals and Constraints

Obstacles or challenges may limit ability to perform

Opportunities may allow projects to exceed original expectations.

Project Managers (PMs) decide which goals and constraints take precedence

Additional constraints

Amount of resources available

Decision maker’s risk tolerance

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Project Customer Tradeoff Matrix

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Break-out Session!

How do YOU define project success and failure?

What are some common reasons for project success or failure?

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Project Success and Failure

Deliverables include all agreed-upon features

Outputs please customers

Customers use the outputs effectively

Completed on schedule and on budget

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Project success is creating deliverables that include all of the agreed upon features

Outputs please the project’s customers.

Customers use the outputs effectively as they do their work (meet quality goals)

The project should be completed on schedule and on budget (meet time and cost constraints).

36

Project Success and Failure

Completed without heroics

Learn new and/or refine skills

Organizational learning

Reap business-level benefits

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Successful projects are completed without heroics

People who work on the project should learn new skills and/or refine existing skills.

Organizational learning should take place and be captured for future projects.

Reap business-level benefits such as development of new products, increased market share, increased profitability, decreased cost, etc.

37

Project Success

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Why Projects Fail

Insufficient resources and/or time

Unclear expectations

Changes in the scope not understood or agreed upon

Stakeholders disagree on expectations

Inadequate project planning

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Not enough resources are available for project completion.

Not enough time has been given to the project.

Project expectations are unclear.

Changes in the scope are not understood or agreed upon by all parties involved.

Stakeholders disagree regarding expectations for the project.

Adequate project planning is not used.

39

Types of Projects

Classifying by industry

Classifying by size

Classifying by understanding of project scope

Classifying by application

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PMI Communities of Practice

Projects in different industries often have unique requirements

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Classifying by Size

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Large projects often require more detailed planning and control

Classifying by Timing of Project Scope Clarity

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How early in the project the project manager and team are able to determine the project scope

Classification by Application

All projects require planning and control

The art of project management:

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when to use certain techniques

how much detail to use

how to tailor techniques to the needs of a project.

Scalability of Project Tools

All projects require

Project specifications

Understanding of work involved

Budget and schedule determinations

Assignment of available workers to tasks

Project management

Projects are scaled up or down to meet the complexity of the task

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All projects require:

Determination of the wants and needs of the customer(s)

Understanding of the amount of work involved

Determination of a budget and schedule

Decisions about available workers and who will do which tasks

Management until the owner accepts the project results

45

Traditional Project Roles

Project Executive-Level Roles

Project Management-Level Roles

Project Associate-Level Roles

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Project Executive-Level Roles

The steering team

The top leader (CEO) and his/her direct reports

Select, prioritize, and resource projects

Ensure that accurate …