Category: Project Management Principles

Figure 3-13. Enable Change to Achieve the Envisioned Future State Remaining relevant in today’s business environment is a fundamental challenge for all organizations. Relevance entails being responsive to stakeholder needs and desires. This requires continually evaluating offerings for the benefit of stakeholders, rapidly responding to changes, and acting as agents for change. Project managers are…

Figure 3-12. Embrace Adaptability and Resiliency Most projects encounter challenges or obstacles at some stage. The combined attributes of adaptability and resiliency in the project team’s approach to a project help the project accommodate impacts and thrive. Adaptability refers to the ability to respond to changing conditions. Resiliency consists of two complementary traits: the ability to absorb impacts and…

A risk is an uncertain event or condition that, if it occurs, can have a positive or negative effect on one or more objectives. Identified risks may or may not materialize in a project. Project teams endeavor to identify and evaluate known and emergent risks, both internal and external to the project, throughout the life cycle. Project…

A project is a system of elements that interact with each other. Complexity is a characteristic of a project or its environment that is difficult to manage due to human behavior, system behavior, and ambiguity. The nature and number of the interactions determine the degree of complexity in a project. Complexity emerges from project elements,…

Quality is the degree to which a set of inherent characteristics of a product, service, or result fulfills the requirements. Quality includes the ability to satisfy the customer’s stated or implied needs. The product, service, or result of a project (referred to here as deliverables) is measured for the quality of both the conformance to…

Figure 3-8. Tailor Based on Context Adapting to the unique objectives, stakeholders, and complexity of the environment contributes to project success. Tailoring is the deliberate adaptation of approach, governance, and processes to make them more suitable for the given environment and the work at hand. Project teams tailor the appropriate framework that will enable the…

Figure 3-7. Demonstrate Leadership Behaviors Projects create a unique need for effective leadership. Unlike general business operations, where roles and responsibilities are often established and consistent, projects often involve multiple organizations, departments, functions, or vendors that do not interact on a regular basis. Moreover, projects may carry higher stakes and expectations than regular operational functions.…

A system is a set of interacting and interdependent components that function as a unified whole. Taking a holistic view, a project is a multifaceted entity that exists in dynamic circumstances, exhibiting the characteristics of a system. Project teams should acknowledge this holistic view of a project, seeing the project as a system with its own working…

Value, including outcomes from the perspective of the customer or end user, is the ultimate success indicator and driver of projects. Value focuses on the outcome of the deliverables. The value of a project may be expressed as a financial contribution to the sponsoring or receiving organization. Value may be a measure of public good…

Stakeholders can be individuals, groups, or organizations that may affect, be affected by, or perceive themselves to be affected by a decision, activity, or outcome of a portfolio, program, or project. Stakeholders also directly or indirectly influence a project, its performance, or outcome in either a positive or negative way. Stakeholders can affect many aspects…