Project Framework(Part-2)

Project Framework(Part-2)

In this post, we will look at some more of Project Framework knowledge.

Why do we need a project?

It can be market demand, legal requirements, organizational need advancement or a customer request. And all Organizations have a mission and strategy to be accomplished that are done using projects, programs, and portfolios.

PortfolioProgram-Project

A program is a group of management is coordinated because the projects are related.

A portfolio can be generally described as a group of programs to achieve a specific strategic business are helping to achieve goals of the organization.

A PMO is a department that centralizes the management of projects. A PMO usually takes one of three roles:

  1. Provides the policies, methodologies, and templates for managing projects within the organization
  2. Provides support and guidance to others in the organization on how to manage projects, trains, and assists with specific project
  3. Provides project managers for different projects, of those projects (All projects, or projects of a certain size, type, or influence, are managed by this office)

And the hierarchy goes, Portfolio->Program->Project

Triple Constraints

Triple Constraints are very important in any project management life cycle. They are Scope, Cost and Time. They are called triple constraints because each one varies with the other. They are linked to each other. These are very critical to the success of any project and hence the Project Manager is expected to juggle between these three constraints most of the time.

 

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Cracking the Project Management Toughest Interview Questions: With Concise, Practical Responses

 

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