Project Management Portfolio - Week 5 - Critical Success Factors

This project management portfolio, focused on Week 5, explores key domains, critical success factors, and the importance of feasibility studies. The portfolio highlights various project management aspects, including cost, risk, schedule, and resource management. It emphasizes the significance of continuous improvement, skills acquisition through training, and the use of feasibility studies and cost-benefit analysis to determine project estimates. The document references project management methodologies, critical success factors, and the setting of realistic expectations for project success. It also covers planning activities such as defining work, scheduling, and resource allocation, as well as forecasting needs and skills. The portfolio reflection underscores the application of project management to effectively manage resources, schedules, and costs within a project.

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Project Management Portfolio
Week 5
8/10/2017

Project Management
Weekly Portfolio Learning Table
Topic Personal Learnings Learnings from your experience. References
Project Management
Domains
Project Management can be applied in
various knowledge domains such as cost
management, risk management,
schedule management, change
management, resource management
and so on.
One can become successful in the
activities that are performed by
acquiring the required skills through
learnings and trainings. Also, the
ability to include continuous
improvement shall always be
maintained.
Pmi (2014). Implementing
Organizational Project
Management: A Practice Guide.
[online] Marketplace.pmi.org.
Available at:
http://marketplace.pmi.org/Pag
es/ProductDetail.aspx?
GMProduct=00101500501
[Accessed 10 Aug. 2017].
Kerzner Chapter 9 Critical success factors determine the
project status and progress in the
professional environment.
Success can be predicated by using
feasibility study and designing the
project estimates.
Baars, W. (2006). Project
Management Handbook.
[online] Available at:
https://www.projectmanageme
nt-training.net/wordpress/wp-
content/uploads/2015/11/
book_project_management.pdf
[Accessed 10 Aug. 2017].
Journals & Standards Feasibility study and cost benefit
analysis shall be carried out to
determine the project estimates and the
likelihood of the project success.
Project management can deliver
successful projects by following the
project methodologies and
comparing the progress with the
estimates.
Kerzner, H. (2013). Project
Management: A Systems
Approach to Planning,
Scheduling, and Controlling.
[online] Available at:
http://books.mec.biz/tmp/book
s/55F1OL4WQC7HL2OBCGHS.pd
f [Accessed 10 Aug. 2017].
 IJPM
 PMJ There are project methodologies and
critical success factors developed to
achieve success and the
effectiveness is also measured in
these parameters.
 SAI Global
Expectations that are set for the
project is important as there shall be
realistic and achievable expectations
set to achieve success
Best practice in life includes sticking
to the ethics of honesty,
competence and continuous
development.
Definition of work, schedule
planning, setting milestones, change
2

Project Management
Topic Personal Learnings Learnings from your experience. References
in scope of effort, assigning the
roles, change in resources and
priorities and rescheduling of project
resources come under planning
activities.
Determination of needs, skills and
total time comes under forecasting.
Portfolio Reflection
Project Management shall be used and applied to understand and manage the different elements of the project
such as resources, schedule, cost etc.
3