Cheat Sheet for Contemporary Issues in Project Management (Essay-Type Exam)

1. Five Phases of Project Portfolio Management Life Cycles

Overview:

 Phase 1: Initiation
o Define objectives, identify stakeholders, and align projects with organizational
goals.
o Key Deliverable: Project charter.
 Phase 2: Planning
o Develop detailed project plans, timelines, and budgets.
o Tools: Work Breakdown Structure (WBS), Gantt charts.
 Phase 3: Execution
o Allocate resources, manage teams, and ensure task completion.
o Emphasis on communication and monitoring progress.
 Phase 4: Monitoring and Controlling
o Track project performance against KPIs.
o Use corrective actions to address variances.
 Phase 5: Closing
o Conduct post-project reviews, document lessons learned, and formally close the
project.

2. Linear vs. Incremental Project Life Cycle Models

Linear Model:

 Characteristics:
o Sequential phases: Initiation, planning, execution, and closure.
o Rigid structure; no overlapping phases.
 Strengths:
o Clear milestones.
o Easy to manage and track.
 Weaknesses:
o Inflexibility; poor adaptation to changes.

Incremental Model:

 Characteristics:
o Delivers partial systems in increments.
o Continuous feedback incorporated into subsequent increments.
 Strengths:
 Early delivery of functional components.
o
Flexibility in responding to changes.
o
 Weaknesses:
o Higher management overhead.
o Risk of scope creep.

3. Core Team Members in Project Management

Nature and Role:

 Responsibilities:
o Decision-making, resource allocation, and conflict resolution.
o Represent key disciplines or stakeholder groups.
 Selection Criteria:
o Skills and Expertise: Alignment with project requirements.
o Availability: Ability to commit time and effort.
o Interpersonal Skills: Communication and teamwork capabilities.

When to Select Core Team Members:

 At the initiation phase to ensure their input in planning.

 Adjust based on project complexity or changes in scope.

4. Adaptive Project Life Cycle Model

Characteristics:

 Iterative and Incremental:

o Adapts to changing requirements and priorities.
o Focuses on short iterations with frequent reassessments.
 Collaboration-Driven:
o High level of client involvement.

Strengths:

 Flexibility: Accommodates evolving needs.

 Risk Mitigation: Early identification of issues through iterative feedback.

Weaknesses:

 Ambiguity: Less predictability in timelines and deliverables.

 Resource Intensive: Requires continuous stakeholder engagement.
5. Four-Step Process of Intervention Strategies for Distressed Projects

Step 1: Problem Diagnosis

 Identify root causes of project issues (e.g., resource constraints, unrealistic schedules).
 Use tools like root cause analysis (RCA).

Step 2: Strategic Realignment

 Reassess project objectives and stakeholder expectations.

 Prioritize tasks based on impact and feasibility.

Step 3: Implementation of Solutions

 Introduce corrective measures (e.g., reallocation of resources, scope adjustments).

 Communicate changes effectively to all stakeholders.

Step 4: Monitoring and Follow-Up

 Track progress post-intervention to ensure issues are resolved.

 Document lessons learned for future projects.
Comprehensive Study Notes: Project Management

1. Understanding Project Management

Definition of a Project

 Project: A temporary endeavor undertaken to create a unique product, service, or result.

 Characteristics: Sequence of activities, unique and complex, one goal, specified time,
budget constraints, and quality specifications.

Definition of Project Management

 Project Management: The application of knowledge, skills, tools, and techniques to

meet project requirements.
 Key challenges: Flexibility, understanding business systems, managing changes (scope
creep, feature creep).

The Scope Triangle

 Variables: Scope, Time, Cost, Quality, Resources, and Risk.

 A balanced system where prioritizing one variable impacts others.

Classification of Projects

 Based on characteristics (size, complexity, urgency).

 High-speed, high-change environments require adaptive approaches.

2. Traditional Project Management (TPM)

Process Groups

1. Scoping: Define objectives, deliverables, and stakeholders.

2. Planning: Develop the Work Breakdown Structure (WBS), schedule, and cost estimates.
3. Launching: Form teams, establish communication protocols, and kick off the project.
4. Monitoring and Controlling: Track progress using tools like Gantt charts and Earned
Value Analysis.
5. Closing: Formal acceptance of deliverables, project documentation, and post-project
audits.

Tools and Techniques

 WBS: Breaks down the project into manageable tasks.

  Network Diagrams: Identify task dependencies and schedule optimization.
 Resource Leveling: Balancing resource allocation to avoid conflicts.

3. Agile Project Management (APM)

Agile Principles

 Emphasizes flexibility, continuous feedback, and collaboration.

 Core values from the Agile Manifesto:
o Individuals and interactions over processes and tools.
o Working software over comprehensive documentation.
o Customer collaboration over contract negotiation.
o Responding to change over following a plan.

Agile PMLC Models

1. Iterative: Repeated cycles of planning, executing, and refining.

o Used when the solution is mostly known but needs refinement.
2. Adaptive: Focuses on learning and discovery through cycles.
o Suitable for high-uncertainty projects.

Frameworks

 Scrum: Uses short sprints (2-4 weeks).

 Kanban: Focuses on workflow visualization and continuous delivery.
 Lean: Eliminates non-value-added processes.
 Extreme Programming (XP): Frequent releases in short cycles.

4. Complex Project Management

Managing Complexity and Uncertainty

 Use the four-quadrant model to assess project complexity and uncertainty.

 Complexity impacts requirements definition, risk, and communication.

Key Adaptations

 Client Involvement: Greater collaboration required in complex projects.

 Team Cohesion: Self-organizing, co-located teams in Agile environments.
 Flexibility: Adapt plans and processes to changing needs.
5. Advanced Topics

Multi-Team Projects

 Challenges: Differing priorities, communication gaps, resource conflicts.

 Solutions: Integrated planning, unified reporting structures, clear team roles.

Project Support Offices (PSOs)

 Functions: Support, mentoring, methodology development, training.

 Stages: Temporary, virtual, permanent.

Continuous Process Improvement

 Levels of maturity:
o Ad hoc (informal processes).
o Documented and universally applied processes.
o Integrated into business processes.
o Continuous improvement culture.
 Tools: Fishbone diagrams, Pareto analysis, control charts.

Portfolio Management

 Align projects with organizational strategy.

 Balance resource allocation, risk, and ROI across projects.

Practice Essay Questions

Question 1: The Importance of Agile in Modern Project Management

Prompt: Discuss how Agile principles address challenges in complex and uncertain project
environments. Provide examples of Agile frameworks and their applications.

Model Answer: Agile principles prioritize adaptability and collaboration, making them ideal for
projects with high uncertainty. For example, Scrum uses sprints to deliver incremental value,
while Kanban optimizes workflows. These approaches emphasize client feedback, ensuring that
evolving requirements are met efficiently. By promoting iterative development, Agile
frameworks enable teams to adapt to market changes, reducing the risk of failure.

Question 2: Comparing Traditional and Agile Project Management

Prompt: Compare and contrast Traditional Project Management (TPM) and Agile Project
Management (APM), highlighting their strengths and weaknesses.

Model Answer: TPM follows a linear approach, ideal for projects with well-defined goals and
stable requirements. It ensures thorough documentation and clear schedules but struggles with
adaptability. APM, on the other hand, excels in dynamic environments, emphasizing flexibility
and continuous feedback. While Agile fosters innovation and responsiveness, it requires skilled
teams and organizational buy-in to succeed. Both methodologies are valuable, depending on
project complexity and stakeholder needs.