book

Project Management: Achieving Competitive Advantage, Fifth Edition

by Jeffrey K. Pinto

January 2018

Intermediate to advanced

480 pages

33h 56m

English

Pearson

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NEW TO THIS EDITIONSOLVING TEACHING AND LEARNING CHALLENGESDEVELOPING EMPLOYABILITY SKILLSINSTRUCTOR TEACHING RESOURCES
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER
GENERAL PROJECT CHARACTERISTICS

COMMUNICATIONCRITICAL THINKINGCOLLABORATIONKNOWLEDGE APPLICATION AND ANALYSISBUSINESS ETHICS AND SOCIAL RESPONSIBILITYINFORMATION TECHNOLOGY APPLICATION AND COMPUTING SKILLSDATA LITERACY
QuestionsQuestionsQuestionsQuestions
PMP CERTIFICATION SAMPLE QUESTIONS
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER
IDENTIFYING PROJECT STAKEHOLDERSCLIENTSCOMPETITORSSUPPLIERSINTERVENOR GROUPSTOP MANAGEMENTACCOUNTINGFUNCTIONAL MANAGERSPROJECT TEAM MEMBERSMANAGING STAKEHOLDERSASSESS THE ENVIRONMENTIDENTIFY THE GOALS OF THE PRINCIPAL ACTORSASSESS YOUR OWN CAPABILITIESDEFINE THE PROBLEMDEVELOP SOLUTIONSTEST AND REFINE THE SOLUTIONS
FORMS OF ORGANIZATIONAL STRUCTUREFUNCTIONAL ORGANIZATIONSPROJECT ORGANIZATIONSMATRIX ORGANIZATIONSMOVING TO HEAVYWEIGHT PROJECT ORGANIZATIONS
HOW DO CULTURES FORM?TECHNOLOGYENVIRONMENTGEOGRAPHICAL LOCATIONREWARD SYSTEMSRULES AND PROCEDURESKEY ORGANIZATIONAL MEMBERSCRITICAL INCIDENTSORGANIZATIONAL CULTURE AND PROJECT MANAGEMENT
PMP CERTIFICATION SAMPLE QUESTIONS
Building Your Project PlanEXERCISE 1—DEVELOPING THE PROJECT NARRATIVE AND GOALSSAMPLE BACKGROUND ANALYSIS AND PROJECT NARRATIVE FOR ABCUPS, INC.CURRENT PROCESSOVERVIEW OF THE PROJECTObjectivesGeneral ApproachConstraints
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:
METHOD ONE: CHECKLIST MODELSOLUTIONMETHOD TWO: SIMPLIFIED SCORING MODELSSOLUTIONLIMITATIONS OF SCORING MODELSMETHOD THREE: THE ANALYTICAL HIERARCHY PROCESSSTRUCTURING THE HIERARCHY OF CRITERIAALLOCATING WEIGHTS TO CRITERIAASSIGNING NUMERICAL VALUES TO EVALUATION DIMENSIONSEVALUATING PROJECT PROPOSALSMETHOD FOUR: PROFILE MODELSSOLUTION
PAYBACK PERIODSOLUTIONNET PRESENT VALUESOLUTIONDISCOUNTED PAYBACKINTERNAL RATE OF RETURNSOLUTIONCHOOSING A PROJECT SELECTION APPROACH
OBJECTIVES AND INITIATIVESDECISION MAKINGPRIORITIZATIONREVIEWREALIGNMENTREPRIORITIZATIONTHE PORTFOLIO SELECTION PROCESSPREPROCESS PHASEPROCESS PHASEPOST-PROCESS PHASEDEVELOPING A PROACTIVE PORTFOLIOKEYS TO SUCCESSFUL PROJECT PORTFOLIO MANAGEMENTFLEXIBLE STRUCTURE AND FREEDOM OF COMMUNICATIONLOW-COST ENVIRONMENTAL SCANNINGTIME-PACED TRANSITIONPROBLEMS IN IMPLEMENTING PORTFOLIO MANAGEMENTCONSERVATIVE TECHNICAL COMMUNITIESOUT-OF-SYNC PROJECTS AND PORTFOLIOSUNPROMISING PROJECTSSCARCE RESOURCES
3.1 NET PRESENT VALUESOLUTION3.2 DISCOUNTED PAYBACKSOLUTION3.3 INTERNAL RATE OF RETURNSOLUTION
ProblemsQuestionsQuestions
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:
ACQUIRING PROJECT RESOURCESMOTIVATING AND BUILDING TEAMSHAVING A VISION AND FIGHTING FIRESCOMMUNICATING
CONCLUSIONS ABOUT PROJECT LEADERS
CHAMPIONS—WHO ARE THEY?CREATIVE ORIGINATORENTREPRENEUR“Godfather” OR SPONSORPROJECT MANAGERWHAT DO CHAMPIONS DO?HOW TO MAKE A CHAMPIONIDENTIFY AND ENCOURAGE THE EMERGENCE OF CHAMPIONSENCOURAGE AND REWARD RISK TAKERSREMEMBER THAT CHAMPIONS ARE CONNECTED EMOTIONALLY TO THEIR PROJECTSDON’T TIE CHAMPIONS TOO TIGHTLY TO TRADITIONAL PROJECT MANAGEMENT DUTIES
UNETHICAL BEHAVIORS IN PROJECT MANAGEMENT
PostscriptQuestionsAnalysis of the ProblemPossible Courses of ActionQuestions
PMP CERTIFICATION SAMPLE QUESTIONS
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER
THE STATEMENT OF WORKTHE PROJECT CHARTER
THE WORK BREAKDOWN STRUCTUREPURPOSES OF THE WORK BREAKDOWN STRUCTURETHE ORGANIZATION BREAKDOWN STRUCTURETHE RESPONSIBILITY ASSIGNMENT MATRIX
CONFIGURATION MANAGEMENT
MANAGING PROJECTS FOR SUSTAINABILITY
ProblemsQuestionsQuestionsQuestionsWrong Weapon for the Wrong War?Questions
PMP CERTIFICATION SAMPLE QUESTIONS
Project Outline—Remodeling an Appliance
Sample Project CharterPROJECT CHARTERINTEGRATED PROJECTDeveloping the Work Breakdown StructureSAMPLE WORK BREAKDOWN STRUCTURE—ABCUPS, INC.WORK BREAKDOWN STRUCTURE—ABCUPS’ PROCESS MODIFICATION
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
IDENTIFY NECESSARY SKILL SETSIDENTIFY PEOPLE WHO HAVE THE REQUIRED SKILLSTALK TO POTENTIAL TEAM MEMBERS AND NEGOTIATE WITH FUNCTIONAL HEADSBUILD IN FALLBACK POSITIONSTRY TO NEGOTIATE FOR PARTIAL ASSISTANCEADJUST PROJECT SCHEDULES AND PRIORITIES ACCORDINGLYNOTIFY TOP MANAGEMENT OF THE CONSEQUENCESASSEMBLE THE TEAM
A CLEAR SENSE OF MISSIONA PRODUCTIVE INTERDEPENDENCYCOHESIVENESSTRUSTENTHUSIASMRESULTS ORIENTATION
POORLY DEVELOPED OR UNCLEAR GOALSUNCLEAR GOALS PERMIT MULTIPLE INTERPRETATIONSUNCLEAR GOALS IMPEDE THE WILLINGNESS OF TEAM MEMBERS TO WORK TOGETHERUNCLEAR GOALS INCREASE CONFLICTPOORLY DEFINED PROJECT TEAM ROLES AND INTERDEPENDENCIESLACK OF PROJECT TEAM MOTIVATIONTHE PROJECT IS PERCEIVED AS UNNECESSARYTHE PROJECT MAY HAVE LOW PRIORITYPOOR COMMUNICATIONPOOR LEADERSHIPTURNOVER AMONG PROJECT TEAM MEMBERSDYSFUNCTIONAL BEHAVIOR
STAGE ONE: FORMINGSTAGE TWO: STORMINGSTAGE THREE: NORMINGSTAGE FOUR: PERFORMINGSTAGE FIVE: ADJOURNINGPUNCTUATED EQUILIBRIUM
SUPERORDINATE GOALSRULES AND PROCEDURESPHYSICAL PROXIMITYACCESSIBILITYOUTCOMES OF COOPERATION: TASK AND PSYCHOSOCIAL RESULTS
WHAT IS CONFLICT?SOURCES OF CONFLICTORGANIZATIONAL CAUSES OF CONFLICTINTERPERSONAL CAUSES OF CONFLICTMETHODS FOR RESOLVING CONFLICTMEDIATE THE CONFLICTARBITRATE THE CONFLICTCONTROL THE CONFLICTACCEPT THE CONFLICTELIMINATE THE CONFLICTNegotiationQUESTIONS TO ASK PRIOR TO THE NEGOTIATIONPRINCIPLED NEGOTIATIONSEPARATE THE PEOPLE FROM THE PROBLEMFOCUS ON INTERESTS, NOT POSITIONSINVENT OPTIONS FOR MUTUAL GAININSIST ON USING OBJECTIVE CRITERIA
BCT’s PerspectiveSFI’s Perspective
PMP CERTIFICATION SAMPLE QUESTIONS
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER
RISK IDENTIFICATIONRISK BREAKDOWN STRUCTURESANALYSIS OF PROBABILITY AND CONSEQUENCESRISK MITIGATION STRATEGIESACCEPT RISKMINIMIZE RISKSHARE RISKTRANSFER RISKUSE OF CONTINGENCY RESERVESTASK CONTINGENCYMANAGERIAL CONTINGENCYINSURANCEWORKAROUNDSOTHER MITIGATION STRATEGIESCONTROL AND DOCUMENTATION
7.1 QUANTITATIVE RISK ASSESSMENT
ProblemsThe Development of the CometTroublesWhat Went Wrong?QuestionsQuestionsTacoma Narrows Bridge: The PostmortemQuestions
PMP CERTIFICATION SAMPLE QUESTIONS
Project Risk AssessmentSAMPLE RISK ANALYSIS—ABC u p s, INC.QUALITATIVE RISK ASSESSMENTQUANTITATIVE RISK ASSESSMENT
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:
DIRECT VERSUS INDIRECT COSTSRECURRING VERSUS NONRECURRING COSTSFIXED VERSUS VARIABLE COSTSNORMAL VERSUS EXPEDITED COSTS
LEARNING CURVES IN COST ESTIMATIONSOFTWARE PROJECT ESTIMATION—FUNCTION POINTSPROBLEMS WITH COST ESTIMATION
TOP-DOWN BUDGETINGBOTTOM-UP BUDGETINGACTIVITY-BASED COSTING
8.1 CALCULATING FULLY LOADED LABOR COSTSSOLUTION 8.2 Estimating Software Costs with Function PointsSOLUTION8.3 Calculating Budget Estimates Using the Learning CurveSOLUTION
Problems
PMP CERTIFICATION SAMPLE QUESTIONS
Developing the Cost Estimates and Budget
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
LABELING NODESSERIAL ACTIVITIESNetwork logic suggests that:CONCURRENT ACTIVITIESMERGE ACTIVITIESBURST ACTIVITIES
CALCULATING THE NETWORKTHE FORWARD PASSTHE BACKWARD PASSPROBABILITY OF PROJECT COMPLETIONLADDERING ACTIVITIESHAMMOCK ACTIVITIESOPTIONS FOR REDUCING THE CRITICAL PATH
9.1 CREATING AN ACTIVITY NETWORKSOLUTION9.2 CALCULATING ACTIVITY DURATIONS AND VARIANCESSOLUTION9.3 DETERMINING CRITICAL PATH AND ACTIVITY SLACKSOLUTION
ProblemsQuestions
Exercise 9.27Exercise 9.28Exercise 9.29PMP Certification Sample Questions
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
FINISH TO STARTFINISH TO FINISHSTART TO STARTSTART TO FINISH
ADDING RESOURCES TO GANTT CHARTSINCORPORATING LAGS IN GANTT CHARTS
OPTIONS FOR ACCELERATING PROJECTSCRASHING THE PROJECT: BUDGET EFFECTS
HOW ARE THEY DIFFERENT?DUMMY ACTIVITIESFORWARD AND BACKWARD PASSES WITH AOA NETWORKSAOA VERSUS AONAON STRENGTHS AND WEAKNESSESAOA STRENGTHS AND WEAKNESSES
CONCLUSIONS
10.1 CRASHING PROJECT ACTIVITIESSOLUTION10.2 COST OF CRASHING A PROJECTSOLUTION
ProblemsQuestionsQuestionsMS Project ExercisesExercise 10.20Exercise 10.21Exercise 10.22Exercise 10.23PMP CERTIFICATION SAMPLE QUESTIONSAnswersINTEGRATED PROJECTDeveloping the Project ScheduleNotes
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
WHAT IS UNIQUE ABOUT AGILE PM?TASKS VERSUS STORIESKEY TERMS IN AGILE PM5STEPS IN AGILE6SPRINT PLANNINGDAILY SCRUMSTHE DEVELOPMENT WORKSPRINT REVIEWSSPRINT RETROSPECTIVEKEYS TO SUCCESS WITH AGILEPROBLEMS WITH AGILE
THEORY OF CONSTRAINTS
Developing the Critical Chain Activity NetworkCRITICAL CHAIN SOLUTIONS VERSUS CRITICAL PATH SOLUTIONS
ProblemsQuestionsQuestions
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
TIME AND RESOURCE SCARCITY
STEP ONE: DEVELOP THE RESOURCE-LOADING TABLESTEP TWO: DETERMINE ACTIVITY LATE FINISH DATESSTEP THREE: IDENTIFY RESOURCE OVERALLOCATIONSTEP FOUR: LEVEL THE RESOURCE-LOADING TABLEPHASE ONEPHASE TWOPHASE THREE
SCHEDULE SLIPPAGERESOURCE UTILIZATIONIN-PROCESS INVENTORYRESOLVING RESOURCE DECISIONS IN MULTIPROJECT ENVIRONMENTSFIRST IN LINEGREATEST RESOURCE DEMANDGREATEST RESOURCE UTILIZATIONMINIMUM LATE FINISH TIMEMATHEMATICAL PROGRAMMING
SOLUTION
ProblemsQuestionsQuestions
Exercise 12.23 Exercise 12.24 Exercise 12.25 Exercise 12.26 PMP CERTIFICATION SAMPLE QUESTIONS
Managing Your Project’s Resources
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
THE PROJECT S-CURVE: A BASIC TOOLS-CURVE DRAWBACKSMILESTONE ANALYSISPROBLEMS WITH MILESTONESTHE TRACKING GANTT CHARTBENEFITS AND DRAWBACKS OF TRACKING GANTT CHARTS
TERMINOLOGY FOR EARNED VALUECREATING PROJECT BASELINESWHY USE EARNED VALUE?STEPS IN EARNED VALUE MANAGEMENTASSESSING A PROJECT’S EARNED VALUE
FLOW OF EARNED VALUE SYSTEM
CRITICAL SUCCESS FACTOR DEFINITIONSCONCLUSIONS
13.1 EXAMPLE OF EARNED VALUE
ProblemsQuestionsQuestionsQuestions
Exercise 13.32 Exercise 13.33 Exercise 13.34 Exercise 13.35 Exercise 13.36 Exercise 13.37 PMP CERTIFICATION SAMPLE QUESTIONS
Earned Schedule*
Chapter ObjectivesPROJECT MANAGEMENT BODY OF KNOWLEDGE CORE CONCEPTS COVERED IN THIS CHAPTER:Introduction
FINISHING THE WORKHANDING OVER THE PROJECTGAINING ACCEPTANCE FOR THE PROJECTHARVESTING THE BENEFITSREVIEWING HOW IT ALL WENTPUTTING IT ALL TO BEDDISBANDING THE TEAMWHAT PREVENTS EFFECTIVE PROJECT CLOSEOUTS?
MAKING THE EARLY TERMINATION DECISIONSHUTTING DOWN THE PROJECTALLOWING FOR CLAIMS AND DISPUTES
QuestionsQuestionsQuestions
PMP CERTIFICATION SAMPLE QUESTIONS
Exercise A: Constructing the Network: Site Preparation Project1. CONSTRUCT THIS NETWORK USING MS PROJECT 20162. IDENTIFY THE CRITICAL PATH. HOW LONG WILL THIS PROJECT TAKE?3. ASSIGN AND LEVEL RESOURCES4. SUPPOSE ROSE IS RESPONSIBLE FOR ACTIVITIES B AND C. ARE THERE ANY RESOURCE CONFLICTS? HOW DO WE KNOW?5. SHOW THE SAME PROJECT WITH A GANTT CHART AND A NETWORK DIAGRAM
PROJECT EXECUTION PLAN FOR PROJECT
Table of Contents

Content preview from Project Management: Achieving Competitive Advantage, Fifth Edition

Project Portfolio Management

LO 3.4 Identify the elements in the project portfolio selection process and discuss how they work in a logical sequence to maximize a portfolio.

Project portfolio management is the systematic process of selecting, supporting, and managing a firm’s collection of projects. According to the Project Management Institute, a company’s project portfolio consists of its projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.20 Projects are managed concurrently under a single umbrella and may be either related or independent of one another. The key to portfolio management is realizing that a firm’s projects share a common strategic purpose and the same scarce resources.21 For ...