Best Practice Project Management

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The Project Management Framework used within Portfolio Management Solutions and Services(PMSS) can be considered a Best Practice Project Management Methodology because it is aligned withthe Project Management Institutes (PMI) Project Management Body Of Knowledge (PMBOK) which is auniversally accepted and followed project management best practice standard. As such the PMFramework used within the PMSS PMO could be easily aligned with any other Best Practice projectmanagement methodology on the market. This alignment is explained in detail in the table below.

What is PMI and the PMBOK?

The PMI is arguably the worlds foremost advocate for the project management profession and practice.It is represented by more that 200,000 members across 156 countries worldwide.PMI professionalscome from virtually every major industry including, aerospace, automotive, business management,construction, engineering, financial services, information technology, pharmaceuticals, healthcare, andtelecommunications.

The Project Management Body Of Knowledge (PMBOK) is a collection of processes and knowledgeareas within the practice of project management created and updated continuously by a collective boardof PMI professionals. It is a recognised international standard (IEEE Std 1490-1998) and includes 5 basicproject management processes, namely; Initiation, Planning, Executing, Controlling and Closing.

How is the PMO PM Framework Aligned with the PMBOK?By creating the PMO PM Framework Stages in parallel with the Phases within the PMBOK, we havebeen able to achieve a close alignment with the PMBOK. However whereas the PMBOK gives directionon what it is that needs to be done, the PMO PM Framework concentrates on how it has to be done.

For each core process in the PMBOK, the PMO PM Framework has an equivalent process. The tablebelow illustrates this alignment in detail. It furthermore highlights areas that are included in the PMO PMFramework that are not as yet included in the PMBOK.

BEST PRACTICE PROJECT MANAGEMENT


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Portfolio Management

Solutions and Services

Best Practice Project ManagementRevision 1.0 14-03-2006

PMBOK PM FRAMEWORK

PROJECT INITIATION PROCESSES

Develop Preliminary Project Scope Statement Define Overall Project Scope

Develop Project Charter Develop Project Scope Of Work

Not in PMBOK Identify and Engage Key Stakeholders

Not in PMBOK Define the Business Need/Opportunity

Not in PMBOK Identify the Business Benefits

Not in PMBOK Define Project Objectives

Not in PMBOK Ensure Alignment With Strategic Direction andArchitecture

Not in PMBOK Identify Key Potential Business Risks

Not in PMBOK Determine costs and Schedule Estimates

PROJECT PLANNING PROCESSES

Develop Project Management Plan Develop Project Plan

Scope Planning Refine Project Scope

PROJECT MANAGEMENT OFFICE Page 2 of 7


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PMBOK PM FRAMEWORK

Scope Definition Refine Project ScopeCreate WBS Refine Project Schedule

Activity Definition Refine Project Schedule

Activity Sequencing Refine Project Schedule

Activity Resource Estimating Refine Project Schedule

Activity Duration Estimating Refine Project Schedule

Schedule Development Refine Project Schedule

Cost Estimating Refine Project Cost and Budget

Cost Budgeting Refine Project Cost and Budget

Quality Planning Develop Project Quality Management Approach

Human Resource Planning Define Project Organisation and Governance

Communications Planning Develop Project Communication ApproachRisk Management Planning Identify Potential Risks

Risk Identification Identify Potential Risks

Qualitative Risk Analysis Identify Potential Risks

Quantitative Risk Analysis Identify Potential Risks

Risk Response Planning Identify Potential Risks

Plan Purchases and Acquisitions Determine Procurement and Sourcing Strategy



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PMBOK PM FRAMEWORK

Plan Contracting Determine Procurement and Sourcing Strategy

Not in PMBOK Identify Project Constraints and Assumptions

Not in PMBOK Identify Other Resource Requirements

Not in PMBOK Establish Project Life Cycle Checkpoints

Not in PMBOK Determine Process for Issue Identification andResolution

Not in PMBOK Determine the Process for dealing with ScopeChange

Not in PMBOK Develop the Organisational Change Approach

Not in PMBOK Develop Configuration Management Approach

Develop Project Charter (in Initiation Phase) Develop Business Case Definition



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PMBOK PM FRAMEWORK

PROJECT EXECUTING, MONITORING AND CONTROLLING PROCESSES

Direct and Manage Project Execution Project Specific Deliverables and

Document Work Results

Perform Quality Assurance Manage Quality

Acquire Project Team Manage Schedule

Develop Project Team Manage Schedule

Information Distribution Communicate Information

Request Seller Responses Execute Procurement Plan

Select Sellers Execute Procurement Plan

Monitor and Control Project Work Manage Schedule

Integrated Change Control Manage Scope

Scope Verification Manage Scope

Scope Control Manage Scope

Schedule Control Manage Schedule

Cost Control Manage Costs



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PMBOK PM FRAMEWORK

Perform Quality Control Manage QualityManage Project Team Manage Schedule

Performance Reporting Status Review Meetings and

Review Project Life Cycle Checkpoints

Manage Stakeholders Communicate Information

Risk Monitoring and Control Manage Risks

Contract Administration Administer Contractor/Vendor

Not in PMBOK Manage Organisational Change

Not in PMBOK Manage Issues

Not in PMBOK Update Project Planning Documentation

PROJECT CLOSING PROCESSES

Close Project Conduct Outcomes Assessment

Contract Closure Conduct Final Contract Reviews

Not in PMBOK Conduct Final System Acceptance Meeting

Not in PMBOK Conduct Knowledge Transfer



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PMBOK PM FRAMEWORK


Best Practice Project Management

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