BUS605: Strategic Project Management

This chapter places context around the practice of project management by defining projects and their characteristics, the process of project management, and the knowledge and skills needed to be a project manager.

It's important to understand the difference between ongoing operations, or work that supports the day-to-day operations of the business, and project work. Be sure to pay close attention to key differences and note when a project moves into operational activities.

This chapter focuses on how businesses use strategy to create a competitive advantage and value for the organization. Understanding how organizations can be strategic in their thinking helps ensure that organizations select the right projects to align with what is important.

This video will discuss four different methods for project selection, including expert/executive opinion, brainstorming, non-numeric methods, and numeric methods. Each method has its own place within the process of selecting projects.

This video will demonstrate how to calculate Net Present Value, a method used for selecting projects. As it is important to be able to demonstrate monetary value and payback for projects, it's important to know how to calculate some of the financial measures that will help determine which projects will be more profitable or offer more value to the organization.

This chapter describes the process of project management through the lens of the Project Management Institute (PMI)'s Body of Knowledge (PMBOK).

This video looks at various project management methods that are used within information technology projects. The methods of waterfall, lean, extreme programming, SCRUM, Kanban, and DevOps are discussed. If IT projects are important to you, you will want to pay attention to these methodologies.

Review these key terms and concepts used in project management. Pay attention to the roles of the project manager, project sponsor, and the project lifecycle.

Corporations spend billions of dollars on projects, so their success is important. Projects fail for a variety of reasons. This quick article will demonstrate some of those reasons. Notice that communication plays an important part in each of these reasons.

This video describes how the triple constraint of scope, schedule, and budget can influence the success of a project.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 1 Assessment.

Projects are broken into phases. The Project Management Institute suggested that project initiation, planning, execution, monitoring and controlling, and closing are the formal phases for each project. This chapter provides an overview of the work performed in each phase of a project. 

Read this section and pay special attention to the phase in which various project documents are created.

Read this text. Be sure to note the importance of defining what success for the project looks like, as this will help shape the development of the project plan. The project sponsor and stakeholders are important in this process. 

As you read this chapter, notice how the project charter defines the preliminary scope, schedule, and budget for the project, effectively paying out the project's anticipated "triple constraint".

The business case provides the justification, or "why we are doing the project". Pay attention to how the justification seeks to provide a balance between the money spent versus the benefits achieved.

This article provides a quick tutorial on how to create a visual representation of the future benefits of a project. The purpose of visuals is to help turn hard numeric data into something easier to see.

The bulk of the work in the planning phase revolves around the project scope, schedule, and budget. As you read through this chapter, pay special attention to how the work of the project is defined, how project resources are identified, how deliverables are decomposed into tasks that are logically sequenced, and how the work breakdown structure helps a project manager stay on top of the work of the project.

Don't let the title of this chapter confuse you. The author uses project "implementation" to refer to the execution of the project plan (the actual work of the project to produce the project deliverables). Read the section on change control, as this is one important aspect of controlling the project scope, schedule, and budget.

This video describes the various activities that occur in the Monitoring and Controlling phase of a project. The activities of monitoring and controlling occur simultaneously with project execution. Notice that there is an emphasis on controlling the scope of work, as the scope can easily become distorted during project execution. In addition to controlling the project's scope, project status reporting, including analysis of variance and trends, occurs.

This video discusses the activities that take place during project closure. These activities include transitioning from project to operations, when appropriate, closing project procurement contracts, capturing lessons learned, and releasing employees from the project.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 2 Assessment.

This chapter focuses on issues surrounding the initiation of projects and introduces some important terminology. You will find several sources for how projects are prioritized and how objectives are defined.

The business case documents the need for the project. In this chapter, pay attention to how the business case uses numbers or statistics to make a case for the project.

Pay attention to the components that make up the project charter. MOV stands for Measurable Organizational Value and is a key component in developing the business case.

Pay attention to the components that make up the charter, including the preliminary scope statement, assumptions and constraints, scope boundaries, milestones, and the preliminary budget and schedule. This information is approved by the project sponsor and then used to help further define the project during the planning phase.

This chapter describes the importance of managing project stakeholders. Consider the techniques used to identify the various categories of stakeholders and the unique challenges of these various categories. This chapter also discusses the politics of projects.

This research article addresses the reasons why you want to engage key stakeholders early in the project, as early as project initiation.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 3 Assessment.

This chapter provides an overview of the tasks performed throughout the project planning phase. How would you use measurable objectives and the SMART acronym?

The scope of work defines exactly what will be done as a result of the project work. It's important to know exactly what is to be done to avoid wasting both time and money on tasks and activities that are not necessary to accomplish the project goals. That's why scope planning is so important. This chapter will address how to define the scope of work based on the requirements of the end result and the deliverables of the project.

As you read, consider the importance of a clear scope statement in avoiding scope creep throughout the project.

This quick definition of scope creep provides some reasons for the phenomenon.

This chapter discusses making the transition from project planning to project scheduling by introducing two techniques, push scheduling, also known as the CPM method, and pull scheduling, also known as agile scheduling. Both have distinct advantages and disadvantages.

In this video, pay special attention to techniques for defining activities and relationships, techniques for estimating activity duration, and methods in which activities are sequenced.

This video demonstrates the Critical Path Method (CPM).

This article discusses the processes of scope management. Pay attention to the processes of scope definition, creating the work breakdown structure, and defining activities.

In project management terms, resources are anything used to complete the work of the project. We often think of resources as human resources, but project resources can include raw materials, equipment, facilities, or even travel. This chapter will look at how to define and estimate the cost of resources for a project with an emphasis on human resources. Pay attention to the techniques for managing resources and resource leveling techniques.

A project manager needs to find the right resources for the job, whether human resources or materials/supplies. From time to time, resources may be constrained or have limited availability. This chapter discusses the challenges of constrained resources.

This article discusses project time management by first identifying how the WBS can be used to define the work to be completed. The overallocation of resources is common in project management. Pay special attention to resource allocation and the use of resource calendars.

This chapter examines a wide variety of budget estimating techniques used in project management.

This video reviews the process of bottom-up estimation to determine how long activities will take to complete.

This video reviews the process of top-down estimation to determine how long activities will take to complete.

This chapter gives an overview of risk management, including identifying risks, understanding their nature and perception, and techniques for managing risks.

This article gives an overview of the risk identification process. Review the techniques for identifying risks and the importance of maintaining a risk register.

The risk register is a unique document used to identify and track risks. A risk register helps identify the probability of a risk occurring, the effect on the project should the risk be realized, and the potential responses. It also identifies the person responsible for managing the risk and taking action.

Read this section. Pay attention to risk reporting and mitigation.

This video focuses on techniques for identifying risks within the project context.

This article describes the analysis of risks through quantitative measures and defines several risk management terms.

This article contains several terms and definitions for quality management.

This article gives an overview of the project quality process.

This video reviews the quality management processes within the project.

This article sets the framework for procurement management by addressing the importance of understanding the resources needed for your project. One important way that resources are defined is through the make-buy decision.

This chapter reviews the procurement process, from determining the need for the procurement to closing out the procurement contracts.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 4 Assessment.

This chapter discusses why you should understand client expectations so that, as a project manager, you can meet those expectations. It also presents techniques for assuring that the client's expectations stay grounded in the scope and includes a discussion about project changes.

As you read this chapter, consider stakeholder engagement and how you might use an interest/influence chart.

This chapter introduces five different models of team dynamics, including the popular Tuckerman Team Model, which describes the stages a team typically experiences while working together. The DISC personality model can help identify differences in the individuals that work within the teams, while the GRIP Model suggests that four interrelated components make up a team. The Thomas-Kilmann Conflict Mode Model can help manage team conflict, and the Lencioni Model discusses the five dysfunctions of a team.

This chapter focuses on dealing with the consequences of miscommunication. Topics include dealing with conflict, rebuilding damaged relationships, recovering lost productivity, and identifying missed opportunities.

This chapter section discusses leadership and how it is different from management. Pay attention to the characteristics that define leadership and management.

This chapter addresses how to build interpersonal skills. Focus on the section on building teams.

As more and more project teams face global configurations, this chapter discusses techniques for working with multicultural teams.

This chapter focuses on techniques for building successful teams. Setting goals, providing feedback, and holding accountability are three of the techniques discussed.

This chapter discusses the basics of conflict and how to resolve most conflict when it occurs.

This article examines the risk management process. Focus on the sections that discuss risk prevention and contingency planning.

This article defines several terms related to risk monitoring and controlling. Consider how a risk register, change requests, and performance reports help the project manager stay on top of project risks.

When procuring goods or services for a project, contracts are important. They assure that there is a common understanding of the requirements to be delivered as well as how and how much the vendor will be paid. Contracts are legally binding agreements between the buyer and seller.

This article defines several key concepts involved in contract management.

This article describes the process of evaluating vendor proposals and selecting the best proposal for the project.

This video demonstrates some of the basic tools used in project quality management.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 5 Assessment.

This chapter provides a variety of techniques for monitoring the resources used within your project. The emphasis is on human resources, but the principles can be applied to any project resource.

This chapter discusses a variety of tasks and techniques that the project manager must use when managing the project schedule. Tracking and reporting the project, as well as resource leveling, are discussed.

This article defines terms related to earned value management.

This video gives an overview of earned value management, defines the terms used, and demonstrates how EVM can be used to determine if a project is performing on schedule or on budget.

This chapter provides a detailed overview of the processes involved in monitoring and reporting project performance.

This video demonstrates how to calculate cost variance, one component of earned value.

This quick video focuses on understanding and calculating schedule variance in projects. Remember that schedule variance is one of the components of earned value.

This chapter addresses various methods of communicating with a project team and stakeholders.

This video examines project communications from a planning perspective to ensure your stakeholders are informed.

This video demonstrates how effective project communications can manage stakeholder expectations. You will notice that this area overlaps with project status reporting and stakeholder management. Pay attention to what it means to communicate effectively.

This chapter examines communication in general and demonstrates various considerations for effective communication in a variety of situations.

This article discusses six ways a project manager can provide value through project status reports.

This chapter discusses the basic features, functions, and benefits of using software for managing project schedules.

This video demonstrates a few of the reports available in Microsoft Project, one of the project management software tools available for use by project managers. Reports featured include cost overview and project overview.

This video demonstrates how to use Microsoft Project to capture two important variables in earned value: Cost variance and Schedule variance.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 6 Assessment.

These sections focus on the tasks needed to close a project once the deliverables are complete.

This chapter focuses on the key activities that take place during the project closure phase. Pay attention to contract closeout, final payments, releasing the team, and post-project evaluations. These help ensure that the project met the goals and objectives of the stakeholders.

This article defines terms and processes for closing out procurement contracts.

Formal and proper project closure is often a phase that is missed by organizations. This video provides a discussion of the importance of this phase, as well as how to implement the project or transition to ongoing business operations, obtain approvals from stakeholders, capture and disseminate lessons learned, and archive all project documents.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 7 Assessment.

Watch this as you prepare to take the final exam.

You can also download the presentation slides so you can make notes.

Watch this as you prepare to take the final exam.

You can also download the presentation slides so you can make notes.