Lesson 2: Project Management & the Project Manager
Project management is applying knowledge, skills, tools, and techniques to project activities to meet stakeholders' expectations and requirements — while balancing scope, cost, time, and quality. In this lesson we understand what project management is and what the project manager does, meet the 'ult
In brief: project management is balancing the needs of all stakeholders (scope, cost, time, and quality). The project manager does this across every management area, and the tool for setting good goals is called SMART.
- Project Management
- Applying knowledge, skills, tools, and techniques to project activities to meet stakeholders' expectations and requirements, while balancing scope, cost, time, and quality.
- Stakeholders
- All parties with an interest in the project (client, management, team, suppliers, users); project management balances their differing needs and expectations.
- Project Manager
- The person responsible for managing the project areas — scope, time, cost, quality, human resources, communication, risk, procurement, and integration — and above all managing constraints to achieve the business goals.
- Constraint Management
- The area above all management areas: identifying constraints (budget, time, resources) and managing them to achieve the project's and organization's goals.
- Program
- A group of related projects that all contribute to the same business goal/benefit; it has a clear overarching goal, and each project within it advances it. Example: Elon Musk — Tesla, SolarCity, SpaceX.
- Portfolio
- A collection of different, not necessarily related, projects and programs managed together at the organizational level. It is the broadest view: portfolio > program > project.
- SMART Objectives
- A common tool for setting effective objectives: Specific, Measurable, Achievable, Relevant, Time-related.
- Scope boundary
- A clear definition of what the project includes and what it excludes; it sets a boundary and prevents scope creep.
