General Project Management

This section lists down some general stuff about project management.

    1. Progressive Elaboration – A method used to progressively elaborate a project, gather requirements, refine details, and develop schedules. There will a lot of changes in the project.
    2. The five forces model + sixth force
      1. Market Place
      2. Competitors
      3. Customers
      4. Substitutes
      5. Suppliers
      6. Government (the sixth force)
    3. Project is a temporary endeavor. Operations is a permanent endeavor.
    4. A project manager spends 80-90% time on communication.
    5. Different types of Project Life cycle
      1. Predictive life cycle – fully plan driven, scope/cost/schedule are identified as early as possible.
      2. Iterative and incremental life cycle – project is built in phases/iterations. New features/functions are added over time.
      3. Adaptive life cycle – changes driven, agile projects.
    6. Bell Curve
    7. Cost of changes
    8. Risk
    9. Stakeholder’s Influence
    10. The Project life cycle ends when the project concludes but the Product life cycle continues.
    11. Different types of project phase style
      1. Sequential – a phase can start only once the previous phase has ended.
      2. Overlapping – a phase can start prior to the end of the previous phase.
      3. Iterative – one phase is planned in detail at a time, the following phase and the prior phases might provide input to the current phase.
    12. Three basic management organization structures
      1. Functional – Employees are grouped by functionality like finance, IT, sales, etc. and have a single, clearly identifiable functional manager.
      2. Projectized – Various functional employees make up a project team under a project manager.
      3. Matrix – The employees are shared between the functional and project managers.
        1. Weak Matrix – Functional manager has the greatest authority.
        2. Strong Matrix – Project manager has the greatest authority.
        3. Balanced Matrix – The authority is shared between the functional and the project managers.
    13. Weighted Scoring Model analysis – A method of scoring options against a prioritize requirements list to determine which option best fits the selection criteria.
    14. Benefit/Cost ratio analysis – The monetary value is calculated for the benefit and divided by the cost.
    15. Net Present Value (NPV) or Net Present Worth (NPW) = -C0 + t=1∑t Ci/(1+r)^t
      C0 – Initial Investment
      Ci – Cash Flow
    16. Internal Rate of Return (r in the above equation) – The rate at which the positive or negative cash flow becomes zero.



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