Unit 1: Introduction to Project Management

1a. Identify the terms project and project management

  • How does project management differ from product management?
  • How is a project different from regular day-to-day operations?
  • What is the triple constraint?

A project is a temporary endeavor undertaken to create a unique product, service, or result. With projects, there is a specific starting and ending point, which is different from the day-to-day operations of a business. The challenge with managing projects involves the triple constraint, which consists of delivering a product or service on time, on budget, and determining the scope of a project. The scope of a project refers to the specific work that needs to be done and includes the features and functions the final product should have.

Many people use projects, such as business owners, construction managers, creative services providers, educators, engineers, and people working in health care. When managing a project, planning, organizing, analysis, communication, and budget management are all skills that are needed.

The project manager is the person assigned to achieve the project objectives and is responsible for the project's outcome. This role is different from product management, which is focused on ensuring that a product or service is profitable and meets customers' needs over time.

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1b. Demonstrate process groups and knowledge groups

  • What is the six-phase project management model?
  • What are the phases of project management?
  • What elements are important to consider in each phase?
  • What knowledge areas are needed to be a successful project manager?

The six-phase project management model consists of defining, planning, team, communications, reviewing and exiting, and controlling. During the define phase, the project objectives are identified, costs are established, and sometimes, a feasibility study is conducted. For the plan, an initial plan is developing and is an ongoing process. The plan determines timelines, schedules, and resources needed for the project. The team is the group of people with the specialized knowledge needed to help complete the project. The building of a team is important to project success. Communication on a project should take place continuously with all stakeholders. During the control phase, the plan is constantly reviewed to make sure the project is on budget and on schedule. Sometimes, adjustments need to be made to meet the project goals. During the review and exit stage, the project team reviews the original goals, and the project is closed out.

The project lifecycle and process groups include the phases of initiating, planning, executing, monitoring and controlling, and closing. Within the project lifecycle, project managers must have certain knowledge areas met to be successful at managing the project. These knowledge areas include:

  • Project Integration Management
  • Project Scope Management
  • Project Schedule Management
  • Project Cost Management
  • Project Quality Management
  • Project Resource Management
  • Project Communications Management
  • Project Risk Management
  • Project Procurement Management
  • Project Stakeholder Management

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1c. Apply the skills needed for successful project management.

  • What are the elements of the Talent Triangle?
  • What skills from the Talent Triangle do project managers need to develop?
  • What other skills are needed to be a good project manager?

The Talent Triangle, published by The Project Management Institute (PMI), addresses the different skills needed to be successful in project management. The main areas include business acumen, working methods, and power skills.

Business acumen is the understanding of elements like strategic planning, function-specific knowledge, and competitive analysis. Ways of working consist of the actual methods used to manage a project, such as risk management, scope management, and Agile methods. Power skills include conflict management, leadership, communication, and teamwork. All of these skills are needed to be a successful project manager.

Other qualities that make a successful project manager include trust, empathy, understanding, and the ability to build a team and develop consensus. The Project Management Institute offers several certifications that can be earned to show knowledge in project management.

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Unit 1 Vocabulary

This vocabulary list includes terms you will need to know to successfully complete the final exam.

  • project
  • project management model
  • scope
  • the Talent Triangle
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