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Earned value management
Project Life Cycle
All the phases of the project
A tangible, verificable work product
referred to as: phase exits, stage gates, or kill points
Project Management Methodology
A structured approach to projects
3 Elements you should compare over the life of the project
Cost/Staffing, Risk, and the ability to influence the project outcome
Anyone who is actively involved in, is affect by, or in a position to exert influence on the project.
Those whose primary focus is performing projects. For example, contractors, architects and consultantas all work in a project -oriented manner.
Non-project based organizations
Setup to run a business on a day-to-day basis. For example, the suppport systems in a hospital are designed to maintain a supply of goods and serices to keep things staff, not building additions or installing a new x-ray machine.
- 5 of them which are:
- Functional, Weak Matrix, Balanced Matrix, Strong Matrix, and Projectized
Functional orgnaizations tend to be non-project based. They are charaterized by a vertical hierarchy whereby activites are limited to the charter of the group. Examples are Financial Institutions and Insurance Companies
Are characterized by considerable authority and decision-making ability with the group assigned to manage the project. Organizations such as engineering firms and construction companies are almost always projectized since doing projects is their single focus.
Weak Matrix (organizations)
The member fo the project team are pulled from the various functional units in the organization. In addition people will still have funcitonal roles to play back in their home unit.
Balanced Matrix (organizations)
Step up from a weak matrix in that one of the functional management units will assign a project manager as well as staff. They key here it that the project manager is assigned full time, alhtough other team members may be part tim.
Strong Matrix (organization)
Is one that dedicates a staff of full-time project managers to run projects. These project managers teport to a manager who is on the same level with the functional unit managers.
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