Project Management Framework (Fundamentals) (Based on PMBOK 4th Edition. For PMP Certification Exam preparation)

You are guaranteed to get at least 5 questions from this section. Following are important topics you need to cover in this section

1. Definitions of Project and Project Management
1. Definite Start date and End date
2. Produces a unique product or a service. Called as "Product of the Project"
2. How project is different from operations or maintenance
3. (PMI Definition) Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project management is accomplished through the appropriate application and integration of the 42 logically grouped project management processes comprising the 5 Process Groups.
4. Project Management is simply managing various constraints to accomplish objectives.
5. Project organizations need to have a structure to deliver undertaken project. Understand following hierarchical structures
1. Portfolio
2. Program
3. Project
4. Sub Project
5. PMO (Support Organization)
6. A portfolio refers to a collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives
7. A program is defined as a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. A project may or may not be part of a program but a program will always have projects.
8. A project management office (PMO) is an organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain. The responsibilities of a PMO can range from providing project management support functions to actually being responsible for the direct management of a project

 

9. Organizational Structures: Projectized, Matrix and Functional are different types of Organizational structures. Matrix organizations are further sub divided into weak Matrix (Leaning towards functional) or Strong Matrix (leaning towards projects) or Balanced Matrix.
    
    
10. Project stakeholders are individuals or units those are directly or indirectly affected by Project outcomes. Sponsors, customers, users, performing organizations, project team members and influencers are stakeholders. Stakeholders can be 2 categories: Positive stakeholders and negative stakeholders.
     
11. At the end of each project phase, reviews against a set of metrics are performed. If the Phase fails to meet these metrics, the project may not be allowed to continue. These phase end reviews are called Stage gates or Phase exits.
     
12. Project Management process is iterative and cyclic. 4 steps in the process are "Plan", "Do", "Check", Act".
     
13.    Projects or Subprojects can be divided into discrete Phases to provide better management control or to assign  specific skilled groups.
     
14.   

Environment Factors and Organizational cultures will impact projects too.
 

15.    During initiation phases of the Project, Costs are low and Risks are High.
16.  

. Cost and staffing levels are low at the start, peak as the work is carried out, and drop rapidly as the project draws to a close.

17.  

  Several categories of documents are produced during the lifetime of the project. They can be broadly categorized into 2 types:

1. Project Plans: All management plans and 3 Baselines are called Project Plans.
2. Project Documents: Any document that is not called as a plan is called as Project document.  

Project Management Plan 
(Notice, MS Project Plan is just one section of the bigger document)