answer all the questions according to the scenario i give

risk management case study and need support to help me learn.

Why is this a project, as opposed to “operations”?
Who is the project manager?
Who are the stakeholders – and their role?
Which are the major constraints?
Which are the major risks / challenges (e.g. regarding the scope, timeline and/or budget), and how doyou avoid or mitigate them?
How do you measure its success/which are the success criteria?
Consider the alternative scenario of John and Mary moving to the West Coast and buying an
apartment there. Is this a project, or a program?
Requirements:
Buying an ApartmentBackground and Business NeedJohn and Mary and their twin kids live in a small rented apartment in Manhattan. While they can barely afford the rent, the apartment is very conveniently located within ZDONLQJGLVWDQFHIURPWKHLURIILFHVDQGWKH\UHDOO\OLNHWKHLUQHLJKERUKRRG«However, as their kids grew up, John and Mary started to realize that their apartment has a few significant drawbacksoIt became too small for comfortoNo convenient public pre-kindergarten and kindergarten programs are available in their QHLJKERUKRRGDQGWKHSULYDWHRQHVDUHQRWZLWKLQ-RKQ¶VDQG0DU\¶VILQDQFLDOPHDQVoThe quality of its school district is below the city averageo$QGRQWRSRILW-RKQDQG0DU\EHFDPHIHGXSZLWKSD\LQJDUHQW7KH\IHHOWKDWLW¶VOLNHWKURZLQJmoney in the wind, and as such they would much prefer to own their residenceAs a result, John and Mary decided to buy an apartment. So, over a weekend in October, WKH\VHWGRZQDQGSXWWRJHWKHUD³PXVWKDYH´DQG³VKRXOGKDYH´OLVWoThe new apartment must have at least two bedrooms and, preferably, two or more bathrooms.oTheir strong preference is Manhattan. As Manhattan is very expensive, John and Mary foresee a challenge making the required 20% down payment and/or securing the bank loan for the balance. If Manhattan is not feasible, the apartment must be within walking distance to public transportation to Manhattan (where both John and Mary work)oThe neighborhood must have top-rated public kindergardens and schoolsoThey need to move by August next year ±when their current lease expire and before the school year starts 3
Buying an ApartmentHigh-Level Approach‡John and Mary hire a Real Estate agent to help them find an apartment and manage (on their behalf) most of the activities required to completing the purchase. In this case study, you will play the role of the Real Estate agent. As such1.You meet with John and Mary to discuss in more detail ‡Their specific needs, such as: apartment location(e.g. where in Manhattan); desired apartment and building amenities (e.g. should apartment have an eat-in-kitchen, formal dining room, etc.?; should the building have 24 hour doorman, gym room, garage, etc.?)‡Their budget for the apartment purchase and related information required to secure a bank loan (e.g. credit history, job information, etc.)‡The overall timeline (e.g. could they move before next September, if needed? Or later then September, in case of delays related to finding the apartment, or securing the bank loan, etc.)‡Other topics, such as, what if the apartments in your preferred area(s) are more expensive than your budget? Would they be open to a smaller apartment, or an apartment in a different Manhattan location or other NY City neighborhoods (e.g. Queens, or Brooklyn, etc.)2.Once you get this information, you‡5HVHDUFKDYDLODEOHDSDUWPHQWVDQGVKRUWOLVWWKRVHWKDWPHHW-RKQ¶VDQG0DU\¶VFULWHULD‡Review the short list with John and Mary, who visits the apartment(s) they like‡In parallel, help John and Mary research available bank loans and gather required documentation‡When John and Mary find the right apartment, start the negotiation and purchase process. 4
Buying an ApartmentQuestionsPlease answer the questions below by posting a blog on the discussion board (500 words or less) ‡:K\LVWKLVDSURMHFWDVRSSRVHGWR³RSHUDWLRQV´”‡Who is the project manager?‡Who are the stakeholders ±and their role?‡Which are the major constraints?‡Which are the major risks / challenges (e.g. regarding the scope, timeline and/or budget), and how do you avoid or mitigate them?‡How do you measure its success/which are the success criteria?‡Consider the alternative scenario of John and Mary moving to the West Coast and buying an apartment there. Is this a project, or a program? 5
‡Project, Portfolio and Program Management‡PMO
What Is a Project?‡A projectLV³DWHPSRUDU\HQGHDYRUXQGHUWDNHQWRFUHDWH(*)oA unique product oA serviceoAn improvement to an existing product or service line, oroA result‡Projects end when their objectives have been reached or the project has been terminated‡Projects can be large or small and take a short or long time to complete(*)PMBOK¨ Guide, Fifth Edition, 201316
Examples of IT Projects‡A team of students creates a smartphone application and sells it online‡A company develops a driverless car‡A small software development team adds a new feature to an internal software application for the finance department‡A college upgrades its technology infrastructure to provide wireless Internet access across the whole campus‡A company develops a cross-functional case management application to better serve its customers‡A company develops a mobile-friendly version of its product portal17
Project Attributes‡A project ohas a unique purposeois temporaryois developed using progressive elaborationorequires resources, often from various areasoshould have a primary customer or sponsorƒThe project sponsorusually provides the direction and funding for the projectoinvolves uncertainty18
Program and Project Portfolio Management‡Program: group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits and control not available from managing them individually(*) ‡Examples of programs‡Enterprise MDM (Master Data Management) initiative‡Multi-channel close loop marketing application ‡Data center consolidation‡Portfolio: projects, programs, subportfolios and operations managed as a group to achieve strategic objectives (*)‡Example of portfolio‡All IT initiatives (programs, projects) and the IT operations of a business division‡Portfolio and programsDUHDOLJQHGWRFRPSDQ\¶VVWUDWHJLFJRDOVproject may address either strategic or tactical objectives(*)PMBOK¨Guide, Fifth Edition, 201319
The Interactions Between Projects, Programs and Portfolios20PortfolioProjectsProjectsProjectsProjectsProjectsProgramsProjectsProjectsProjects‡Strategies and priorities‡Progressive elaboration‡Governance‡Disposition on change requests‡Impacts from changes in other programs, projects or operations‡Performance reports‡Change requests‡Performance reports‡Change requests‡Performance reports‡Change requests
Project Management Compared to Project Portfolio Management21
Project , Program and Portfolio Managers‡Project managers work with project sponsors, project team, and other people involved in a project to meet project goals‡Program managers oversee programs; often act as bosses for project managers‡Portfolio managers oversee the entire portfolio; often act as bosses for program (and, when applicable) project managers22
Services Offered by a PMO (*)‡Standards, Methodologies and Processes‡Project/Program Delivery Management‡Administration and Support‡Governance and Performance Management‡Portfolio Management‡Prioritization / strategic alignment‡Strategic Planning‡Talent Management‡Organizational Change Management‡Knowledge Management(*) 30,¶V3XOVHRIWKH3URIHVVLRQ302)UDPHZRUNV1RYHPEHU24
Common Challenges for a PMO‡Organizational resistance to change‡PMO processes seen as overhead‡Lack of time/resources to devote to strategic activities‡Insufficient executive support‡Role and responsibilities not clearly defined / role overlap with other IT staff or divisions25
‡Organizational structures
Basic Organizational Structures‡Functional‡Functional managers report to the CEO‡Project‡Program managers report to the CEO‡Matrix‡Middle ground between functional and project structures‡Personnel often report to two or more bosses ‡Structure can be weak, balanced, or strong matrix27
Basic Organizational Structures‡Functional Organization28
Basic Organizational Structures‡Project Organization29
Basic Organizational Structures‡Matrix Organization30
‡Processes, Process Groups and Knowledge Areas
OverviewProcessoA series of actions directed toward a particular resultoCharacterized by inputs, tools and techniques and outputsoEnsure the effective project flow throughout its life cycleoEach process belongs to a process group an a knowledge area (*)Process groupoA set of inter-related processes that together contribute to achieving a project milestoneKnowledge AreaoA complete set of concepts, terms, and activities that make up a professional field, project management field, or area of specialization(*)see PMBOK, 5thedition or the presentation Appendix for a breakdown of processes by process groupsand knowledge areas32
Project Management Process Groups5 (five) Project management process groups(*)oInitiationoPlanningoExecutionoMonitoring and controloClosingThey apply globally and across industries33Processgroups for an IT projectProcess groups for film makingInitiationScreenwritingPlanningProducingExecutionActing and executingMonitoringand ControlEditingClosingReleasing the movie to the theaters(*)See Appendix for details
Project Management Knowledge AreasThere are 10 (ten) Project Management Knowledge Areas (KAs); they are used on most projects most of the timeoProject Integration ManagementoProject Scope ManagementoProject Time ManagementoProject Cost ManagementoProject Quality ManagementoProject Human Resource ManagementoProject Communications ManagementoProject Risk ManagementoProject Procurement ManagementoProject Stakeholder Management34
Project Management Knowledge Areas: A Slightly Different PerspectiveWhile all Project Management KAs are equally important, they can also be viewed from the following perspectiveoProject Scope, Time and Cost ManagementƒAre the most visible to the stakeholders, as they deal directly with the product / service scope, and the cost (budget) and time to deliver itƒThey address the three project constraints that the project manager needs to balanceoProject Quality, Human Resource, Communications, Risk, Procurement and Stakeholder ManagementƒProvide the support to ensure that the final product / service meets the scope, cost and time requirementsoProject Integration ManagementƒProvides the unification, consolidation and integration that are crucial to controlled project execution through completion(*)(*)PMBOK¨ Guide, Fifth Edition, 201335
Project Management Knowledge Areas: An Analogy36All other Knowledge AreasProject Integration ManagementScope ManagementTime ManagementCost Management(*) The three tenors picture from http://media.npr.org/(How The 3 Tenors Sang The Hits And Changed The Game)
‡The Context of IT Projects
The Nature of IT ProjectsVery diverseoA small team installs an off-the-shelf softwareoHundreds of people delivering business transformation initiatives with $100MM+ budgetsMany IT project teams include members from very diverse backgroundsoInformation technologyoEngineeringoBusinessoMathematicsoLiberal artsSupport every industrySoftware is an intangible producto:KLFKOHQGVLWVHOIWRDYDULHW\RIGHYHORSPHQWDSSURDFKHV«o«8QOLNHSK\VLFDOSURGXFWVSoftware developers are knowledge workerso:KRGHYHORSLQQRYDWLYHVROXWLRQVWRQHZSUREOHPV«o«%\VKDULQJNQRZOHGJHDQGRXWFRPHVLQDFORVHO\FRRUGLQDWHGOHDUQLQJHQYLURQPHQW38
The Nature of IT ProjectsBenefit from ±and are challenged by ±rapid advances in software, hardware and technologiesoBig data technologiesoAvailability of cloud-based solutions (SaaS, IaaS, PaaS)oxRMs, BPMs, ERPs, on-line marketing, web analytics, social media analytics softwareMultiple, diverse technologies are often used as part of the same project. For example, an IT project that develops and deploys a case management system could employoAn off-the-shelf CRMoSeveral reporting software applicationsoIdentity & Access Management (IAM) and single-signoVarious data-at-rest and data-in-transit encryption schemesoVarious data integration and data management applications39
Three Sphere Model for Systems Management LMS Business Case (Part 1)40BackgroundThe VP of the Sales division of a global Pharma company charters a task force to identify ZD\VWRLQFUHDVHWKHHIIHFWLYHQHVVRIWKHFRPSDQ\¶V6DOHV)RUFHThe task force evaluates the current training processes and supporting systems and uncovers a number of opportunities for improvementoProcess-related improvement opportunitiesƒMost of the training is currently classroom-based, which is less time-and cost-efficient than CBT / OLT (computer-based training / on-line training)ƒPOA (Plan of Action) meetings, should have been, but they are not included as part of the training programsoSystem-related improvement opportunitiesƒInsufficient support for curriculum-based training; specifically, the system does not provide intuitive and automated means to capture courses interdependencies, such as course prerequisites and equivalent coursesƒClass scheduling is cumbersome and manual-intensive; no support for waiting listsƒNo interface with CBT providers (such as Lynda.com, SkillSoft, etc.)Resolution %DVHGRQWKHWDVNIRUFH¶VUHFRPPHQGDWLRQWKH93GHFLGHVWRVSRQVRUDSURMHFWWRimplement an up-to-date Learning Management System (LMS), which will address the 6DOHVGLYLVLRQ¶VFXUUHQWDQGIXWXUHEXVLQHVVQHHGV
Three Sphere Model for Systems Management41BusinessOrganizationTechnology‡How much will the new system cost?‡What will the support costs be?‡Who will train the Learning and Development group on using the new system?‡What will be the ROI?‡How will this system VXSSRUW³FRPPRQtraining and certification FRXUVHV´ZKLFKPXVWEHtaken by all employees?‡Should we maintain different training systems (for Sales, Manufacturing and HR), or should we use a single system for all?‡What technology platform should we use, J2EE or .NET?‡Should the system be hosted on premise, or in the cloud?‡Off-the-shelf or custom built?‡What will be the load impact on the network?‡What user authentication and management should we use?‡Is data encryption required?
Specific Motivations for IT Project Management‡Project success rate has improved. Contributing factors(*)‡User involvement‡Executive support‡Clear business objectives‡Emotional maturity‡Optimizing scope‡Agile process‡Project management expertise‡Skilled resources‡Execution‡Tools and infrastructure(*) 7KH6WDQGLVK*URXS³&+$26$FWLYLW\1HZV´$XJXVW42
Specific Motivations for IT Project Management‡«+RZHYHU,73URMHFWVVWLOOKDYHDWHUULEOHWUDFNUHFRUGoOverall 50% all projects fail and only 2.5% of corporations consistently meet their scope, time, and cost goals for all types of projects (PwC study)oLarge projects have a significantly higher failure rate than small ones (Standish Group: 2013 CHAOS Manifesto)43
‡General Project Management Methodologies‡Project and Product Life Cycles
Project Phases and the Project Life CycleProject life cycleA collection of project phases that definesowhat work will be performed in each phaseowhat deliverables will be produced and whenowho is involved in each phase, and ohow management will control and approve work produced in each phaseProject PhasesGrouping of related activitiesEach phase produces one ore more significant project deliverablesoDeliverable: a product or service produced or provided as part of a projectPhases are in general sequential, but some activities may span phasesEarly project phasesoLowest resource needsoHighest level of uncertainty (risk) oProject stakeholders have the greatest influence on the project45
Project Phases and the Project Life CycleProject Phases (continued)Middle project phasesoImproved certainty of completing a projectoRequire most resourcesFinal project phaseoEnsures that project requirements were metoThe sponsor (and designated stakeholders) sign off the completion of the project46
Project Phases and the Project Life Cycle:Phases of the Traditional Project Life Cycle47Project ExecutionProject FeasibilityConceptDevelopmentImplementationClose-outBusiness casePreliminary cost estimate2-level WBSProject management planCost estimates3+ level WBSExecution of work packagesDefinitive Cost EstimatesPerformance ReportsCompleted workLessons learnedCustomer acceptanceSample deliverables for each phase
Project Phases vs Process GroupsLMS Business Case (Part 2)Project phases are not the same as the process groupsA project phase contains one or more process groups48Deciding on the project approachAs the development and implementation of the LMS got the green light, the project team realized that they need to make two critical decisions early on1.What LMS software should they use?oBased on their research, the project team narrowed it down to three off-the-shelf LMS packages: SumTotal, Saba, and PlateauoDecision: the project team decided to request that each software vendor developed a limited functionality prototype. The winner will be the prototype that scores highest based on a pre-defined set of criteria2.Which of the following approaches should it use to roll out the LMS to the Sales Force?oCandidate approachesƒ³%LJEDQJ´$OODWRQHVƒEach therapeutic area at a timeƒUS first and then worldwideoDecision: US rollout first, then worldwide
Project Phases vs Process GroupsLMS Business Case (Part 2)Project phases are not the same as the process groupsA project phase contains one or more process groups49Resolution‡Three phase approacho3KDVHVHOHFWVRIWZDUHEDVHGRQYHQGRUV¶SURWRW\SHVoPhase 2: develop LMS and roll it out to USoPhase 3: enhance LMS (e.g. multi-language support) and roll it out worldwide‡Each phase involves all process groupso)RUH[DPSOHIRU3KDVHVHOHFWVRIWZDUHEDVHGRQYHQGRUV¶SURWRW\SHVPMI Process GroupMajor outputsInitiationScope and cost of the prototypesPlanningDetail prototype requirements; phase1 project planExecutionVendors build prototypes; project team scores prototypes; project plan updatesMonitoring and controlProject team test prototypesClosingProject team selects the software and vendor for the next project phases
SDLC and Project Life CyclesProducts also have life cyclesThe Systems Development Life Cycle (SDLC)is a framework for describing the phases involved in developing and maintaining information systemsSystems development projects can follow oPredictive life cycle: the scope of the project can be clearly articulated and the schedule and cost can be predictedoAdaptive Software Development (ASD)life cycle: requirements cannot be clearly expressed, projects are mission driven and component based, using time-based cycles to meet target dates50
SDLC and Project Life Cycles51‡Requirementsare specified during initiation and planning‡Risk and costare controlled by detailed planning based on in-depth analysis of requirements and constraints prior to development‡Key stakeholders are involved at scheduled milestones‡Requirementsareelaborated at periodicintervals during software development‡Risk and costarecontrolled by progressively detailed planning based ontimely specification ofrequirements and constraints duringdevelopment‡Key stakeholdersareinvolved at specifiedintervals‡Requirementsareelaborated at frequent intervals during softwaredevelopment‡Risk and costcontrolled as requirements and constraints emerge‡Key stakeholdersare continuously involvedHighly PredictivePredictiveAdaptiveHighly Adaptive
Life Cycle ModelsWaterfallmodel: has well-defined, linear stages of systems development and supportSpiralmodel: shows that software is developed using an iterative or spiral approach rather than a linear approachIncremental build model: provides for progressive development of operational softwarePrototyping model: used for developing prototypes to clarify user requirements(*)Rapid Application Development (RAD)model: used to produce systems quickly without sacrificing qualityAgilesoftware development has become popular to describe new approaches that focus on close collaboration between programming teams and business experts(*) The prototyping model has more benefits than clarifying the user requirements. It will be discussed in detail in later sessions52
Waterfall and Spiral Life Cycle Models53
‡Case Study: A Generic Project ±Buying an Apartment
Buying an ApartmentBackground and Business NeedJohn and Mary and their twin kids live in a small rented apartment in Manhattan. While they can barely afford the rent, the apartment is very conveniently located within ZDONLQJGLVWDQFHIURPWKHLURIILFHVDQGWKH\UHDOO\OLNHWKHLUQHLJKERUKRRG«However, as their kids grew up, John and Mary started to realize that their apartment has a few significant drawbacksoIt became too small for comfortoNo convenient public pre-kindergarten and kindergarten programs are available in their QHLJKERUKRRGDQGWKHSULYDWHRQHVDUHQRWZLWKLQ-RKQ¶VDQG0DU\¶VILQDQFLDOPHDQVoThe quality of its school district is below the city averageo$QGRQWRSRILW-RKQDQG0DU\EHFDPHIHGXSZLWKSD\LQJDUHQW7KH\IHHOWKDWLW¶VOLNHWKURZLQJmoney in the wind, and as such they would much prefer to own their residenceAs a result, John and Mary decided to buy an apartment. So, over a weekend in October, WKH\VHWGRZQDQGSXWWRJHWKHUD³PXVWKDYH´DQG³VKRXOGKDYH´OLVWoThe new apartment must have at least two bedrooms and, preferably, two or more bathrooms.oTheir strong preference is Manhattan. As Manhattan is very expensive, John and Mary foresee a challenge making the required 20% down payment and/or securing the bank loan for the balance. If Manhattan is not feasible, the apartment must be within walking distance to public transportation to Manhattan (where both John and Mary work)oThe neighborhood must have top-rated public kindergardens and schoolsoThey need to move by August next year ±when their current lease expire and before the school year starts 55
Buying an ApartmentHigh-Level Approach‡John and Mary hire a Real Estate agent to help them find an apartment and manage (on their behalf) most of the activities required to completing the purchase. In this case study, you will play the role of the Real Estate agent. As such1.You meet with John and Mary to discuss in more detail ‡Their specific needs, such as: apartment location(e.g. where in Manhattan); desired apartment and building amenities (e.g. should apartment have an eat-in-kitchen, formal dining room, etc.?; should the building have 24 hour doorman, gym room, garage, etc.?)‡Their budget for the apartment purchase and related information required to secure a bank loan (e.g. credit history, job information, etc.)‡The overall timeline (e.g. could they move before next September, if needed? Or later then September, in case of delays related to finding the apartment, or securing the bank loan, etc.)‡Other topics, such as, what if the apartments in your preferred area(s) are more expensive than your budget? Would they be open to a smaller apartment, or an apartment in a different Manhattan location or other NY City neighborhoods (e.g. Queens, or Brooklyn, etc.)2.Once you get this information, you‡5HVHDUFKDYDLODEOHDSDUWPHQWVDQGVKRUWOLVWWKRVHWKDWPHHW-RKQ¶VDQG0DU\¶VFULWHULD‡Review the short list with John and Mary, who visits the apartment(s) they like‡In parallel, help John and Mary research available bank loans and gather required documentation‡When John and Mary find the right apartment, start the negotiation and purchase process. 56
Buying an ApartmentQuestionsPlease answer the questions below by posting a blog on the discussion board (500 words or less) ‡:K\LVWKLVDSURMHFWDVRSSRVHGWR³RSHUDWLRQV´”‡Who is the project manager?‡Who are the stakeholders and their role?‡Which are the major constraints?‡Which are the major risks / challenges (e.g. regarding the scope, timeline and/or budget), and how do you avoid or mitigate them?‡How do you measure its success/which are the success criteria?‡Consider the alternative scenario of John and Mary moving to the West Coast and buying an apartment there. Is this a project, or a program? Optional Readings The video and articles below provide some basic information about buying apartments in Manhattan:oHow to buy an apartment in NY Cityhttps://www.youtube.com/watch?v=h1S6Y_kMp4Q(8 min)oCo-op vs. condo ±what you need to knowhttp://www.huffingtonpost.com/greg-jacobs/coop-vs-condo-what-you-ne_b_3460551.htmloNew York neighborhoods where buying beats rentinghttps://ny.curbed.com/2017/6/22/15851010/new-york-city-best-neighborhoods-to-buy-rent57
‡Appendix
Project Management Process GroupsInitiation process groupoConsists of the processes necessary to define a new project / or new phase of an existing projectƒIdentifies and documents the business needƒDefines objectives, outcomes and success criteriaƒIdentifies the project stakeholders ƒ(Usually) assigns the project managerƒAllocates / grants the necessary fundingoKey outputsƒProject charter (which usually includes the business case)ƒStakeholder-related documents (e.g. stakeholder list)ƒAuthorization to start the projectoMay be performed at the organizational, program or portfolio level, DQGWKHUHIRUHZRXOGEHRXWVLGHWKHSURMHFW¶VOHYHORIFRQWURO59
Project Management Process GroupsPlanning process group oConsists of processes performed toƒEstablish the project scopeƒDefine and refine the project objectivesƒDevelop the course of action required to attain those objectivesoKey outputsƒProject management planƒSubsidiary plans (scope, cost management, schedule management, risk management, procurement management)ƒOther artifacts (requirements definition, requirements traceability matrix / RTM, project schedule, risk register) 60
Project Management Process GroupsExecuting process group oConsists of processes performed to complete the work defined in the project management planoKey outputsƒProject deliverablesƒChange requestsƒProject plan and project documentation updates 61
Project Management Process GroupsMonitoring & Control process group oConsists of processes performed to ƒTrack, review and regulate the progress and performance of the projectƒIdentify any areas in which changes to the plans are requiredƒInitiate required changesoKey outputsƒApproved change requestsƒProject plan and project documentation updates 62
Project Management Process GroupsClosing process group oConsists of processes performed to finalize all project activities across all Project Groups and formally close the projectoKey outputsƒFinal product, service or resultƒFormal closure of procurement processesƒDocumenting the lessons learned63
Overview64(*) From Terratherm.com
Percentage of Time Spent on Each Process Group65

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