PROJ6000: Visual Presentation on Project Management Principles

This presentation provides a comprehensive overview of project management, focusing on the core principles, processes, methodologies, and knowledge areas essential for successful project delivery. It details the project management cycle, including initiating, planning, executing, monitoring and controlling, and closing phases. The presentation also explores the importance of various knowledge areas such as integration, scope, time, cost, quality, human resources, communications, risk, procurement, and stakeholder management. Furthermore, it highlights different project management methodologies like Waterfall, Agile, Critical Chain, PRiSM, and PRINCE2. The presentation emphasizes the factors contributing to project success, such as executive management support, proper planning, and user involvement, while also addressing the consequences of ineffective project management, including loss of control, lack of focus, and poor decision-making. The presentation is intended for students of PROJ6000, helping them understand the PMBOK knowledge areas and apply appropriate project management tools and techniques, with a focus on risk management.

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Principle of Project
Management


 The process and practice of team work to
meet the success and achieve the goals
specifically is termed as project management.
 It is based on the criteria defined within a
specific time (Cote, 2019).
 Every project consists of cost, time and
quality.
Project Management


The process of project management is to make
sure about the project’s effective flow throughout
its cycle of life. The process of applying project
management in projects consists of:
 Initiating
 Planning
 Executing
 Monitoring and Controlling
 Closing
Process Groups


Knowledge areas are vertical which are necessary for an effective
project management (Project, 2018). The knowledge areas
consists of:
• Integration Management
• Scope Management
• Time Management
• Cost Management
• Quality Management
• Human Resource Management
• Communications Management
• Risk Management
• Procurement Management
• Stakeholder Management
Knowledge Areas


The methodology of project management helps
project managers in successful completion of
projects while following processes specifically
(Baker, 2020). Some of the methodologies are:
 Waterfall Project Management
 Agile Project Management
 Critical Chain Project Management
 PRiSM (Projects integrating Sustainable Methods)
 PRINCE2
Methodologies


 Success in project management contributes
factors that include executive management
support, proper planning, user involvement
and clear requirements statement.
 The failure of projects even when delivered
with proper budget and time is due to not
meeting the needs of users.
Project success or
failure


The major consequence of not implementing project
management practices effectively in projects is losing control of
a company’s ability while positively impacting the business
(Needs, 2020). Other consequences are:
 No focus
 Reluctant to kill projects
 New projects added
 Weak decision points
 Poor decisions in relation to go/kill/hold/fix
 Selection based on politics and emotion
 No rigorous criteria
 No strategic criteria for project selection
Consequences

 Baker, D. (2020). 5 Effective Project Management Methodologies And
How To Apply Them. Retrieved from Project Times:
https://www.projecttimes.com/articles/5-effective-project-management-
methodologies-and-how-to-apply-them.html
 Cote, A. (2019, December 10). What is Project Management? Retrieved
from Paymo: https://www.paymoapp.com/blog/what-is-project-
management/
 Needs, I. (2020). Understanding the Consequences of Not Implementing
Project Portfolio Management. Retrieved from KeyedIn:
https://www.keyedin.com/article/understanding-the-consequences-of-
not-implementing-project-portfolio-management
 Project. (2018, March 5). Project Management Processes and Knowledge
Areas. Retrieved from Project Cubicle:
https://www.projectcubicle.com/project-management-processes-
process-groups-knowledge-areas/
References

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Thank You