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Notes of ICT Project Management [CT 701]

Portfolio and Project Management Institutes (PMI) Framework



- Project portfolio is the document that consists of key characteristics of the project.

Project Portfolio Management (PPM)

- It is a process used by project managers and project management organizations to analyze and manage current or proposed projects based on key characteristics.
- The objectives of PPM is to determine optimal resource delivery and to schedule activities to best achieve financial goals of an organization without degrading the constraints imposed by customers.

Benefits of PPM

- It helps to predict the outcome and plan for projects that will offer the best results.
- It helps to understand which risk of projects can offer the most rewards.
- The project manager gets the global view of each project which makes them able to predict the future problems.
- It provides a way to improve accuracy for estimating and managing financial resources of a group of projects.

Project Management Office

Project Management Institute (PMI) Framework

- PMI is a non profit organization which aims to bring standardization in the field of project management.
- The framework defines the principles of ethics and code of conduct for professionals.
- It focuses on continuous improvement, knowledge sharing and building network.
- It defines project management as a group of 10 knowledge areas, 5 process groups and 47 processes with well defined inputs, tools, techniques and output.

Reasons for failure of projects

- Improper requirement analysis
- Poor project management
- Lack of executive level support
- No linkage to business strategy
- Wrong team members
- No measures to evaluate project success
- No risk management
- Inability to adapt changes
- Lack of control and visibility

Drivers of Project Success

1. Strong leadership
2. Organizational maturity
3. Business-driven approach
4. Execution backing
5. User adoption
6. Visibility

Inhibitors of Project Success

1. Poor feasibility study
2. Poor requirement analysis
3. Lack of teamwork
4. Improper communication
5. No executive support
6. Visibility delay

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