ICPM

Consider Costs and Benefits of the Entire System and Deliverable Lifetime

The textbook wording of this point varies, but is usually something like “Stop making decisions purely on the basis of cost.” When I read the various descriptions however, I believe the textbook title is not an adequate summary.

When Deming talks about not making decisions purely on the basis of cost, he is referring to a plant perspective and talks about the importance of having regular suppliers.

The PMBOK®Guide defines project management as “ . . . the application of knowledge, skills, tools and techniques to project activities to meet project requirements”. Although this definition may sound pretty straightforward, you will find that the skillful application of those skills, tools, and techniques will come only after you’ve had a significant amount of education and on-the-job experience.

Managing a Project includes Identifying requirements, establishing clear and achievable objectives, balancing the competing demands for quality, scope, time and cost and adapting to the different expectations of the various stakeholders.

Problems, needs, and opportunities continually arise in every organization. Problems like low operational efficiency, needs like additional office space, and opportunities like penetrating a new product market are just a few of a nearly endless number of situations that management must address in the process of operating an organization or company. These problems, needs, and opportunities give rise to the identification of solutions. Executing those solutions entails a change for the organization. Projects are generally established to carry out this change and there’s always someone responsible for the successful completion of each project. As the project manager, you are the primary change agent, and your guide for carrying out the change is the project management process.

PROJECT TOOLS

     A. Unique to the project
          a. Work Breakdown Structures
          b. Critical Path Analysis
          c. Earned Value Management

     B. Multiple applications
          a. PMBOK
          b. Standards and Regulations
          c. General Management skills
          d. Interpersonal skills

PROJECT WORK VS. OPERATIONAL WORK
For the exam you should know the similarities and differences between Project Work and Operational Work.

1. Similarities
      A. Performed by People
      B. Constrained by limited resources
      C. Planned, Executed and Controlled

2. Differences
      A. Projects end while operations are ongoing
      B. Objectives are fundamentally different
      C. Projects attain an objective and then terminate.
      D. Projects are bound by multiple constraints

The project manager is a professional who has a responsibility to have a good education, a good understanding of the practice, and experience in the respective field. The PM will play a series of roles: project manager, integrator, communicator, team leader, decision maker, etc...