2 CATEGORIES OF PROGRAM SELECTION TECHNIQUES
Mathematical Models and Benefit Measurement Models
The process of accumulating, finishing, and interpreting informaiton in order to achieve completion of a phase, program, or project. Deals with the collection of project records, validation of program success or failure, lessons learned, the archival of program information for historical info, and the closing of any associated budget centers.
APPROVED CHANGE REQUEST
A request for a change on a program or project that has been approved via a formal or informal change request
An educated, logical guess about a program or project variable when its details are unknown. Carries a degree of risk by definition.
Program information derived from an objective analysis of the program's status and its adherence to defined management processes
BENEFIT COST RATIO (BCR)
choose the program with the biggest ratio
BEST PRACTICES LIBRARY
A repository for best practices; contains templates, documented processes, and documented methodologies that can be used by the program manager as a basis for establishing management methods for the program
The justification for undertaking a program and its components in favor of other initiatives; financial viability, market environment, risks, and enterprise strategic alignment are considered
The formal or informal process of reviewing changes associated with a program or project that results in approval or rejection of changes
CHANGE CONTROL SYSTEM
A documented, formal process that manages change associated with the program or project
CLOSE PROGRAM OUTPUTS (4)
1. Knowledge Transition (pg pulls together a program assessment report - how did and lessons learned and shares it with the team. Team feedbacks and then puts this into the Final reports
2. Final Reports - created and archived
3. Released Resources
4. Closed Program
The process of finalizing all program activities to formally complete the program
CLOSE PROGRAM INPUTS (3)
1. Pg Closure Requests - comes from governance once benefits confirmed as realized
2. Pg Mgmt Plan - Take request and review all sub plans to ensure all requirements have been met, final updates to the plans such as lessons learned are made, and outstanding components brought to orderly closed (in the case of closing program early for example)
3. Pg Transition Plan - review for details on how to move the deliverables from pg to operations ownership
CLOSE PROGRAM T/T (3)
2. Expert Judgement
3. Contract Closure Procedure (close program triggers action to "close procurements")
CLOSING THE PROGRAM
Point at which the customer or sponsor agrees to accept the program results. All projects under the program are closed BEFORE the program is closed. This closure indicates work is done. Any work after closure is warranty work or a new project/program
COMPARATIVE ADVANTAGE ANALYSIS
Tool used in "initiate" process. Considers both internal and external competitoin and is conducted against strategic initiatve or business case
COMPONENT INITIATION REQUEST
A formal request to inaugurate the work of a program component
COMPONENT TRANSITION REQUEST
A formal request to move the product of a conponent into the program
A process which verifies that the products of the program or project are complete and accurate
Input to all programs or projects. Variable that limits our options. Examples could be market completion date required, resources avaialble,budget available, etc.
CONTRACT CLOSURE PROCEDURES
Tool for "Close Program Process". Deal with closing out any contract-related activities in the program. Such as: Product verification that all work was done, Admin closure associated with the contract
CONTRACT MANAGEMENT PLAN
The document that defines the methods and procedures associated with directing and managing contracts
CORE TEAM ASSIGNMENTS
Output of the "Develop Pg Infrastructure" process. Include - PMO resources, steering committee, the governance body, and the board of advisors.
Actions on a program or project that will correct a component that is out of alignment with the baseline
Tool used in "initiate" process. Processes define program benefits and compare them to the program costs. Ongoing effort since program changes can occur
Tool used in "Direct & Manage Program Execution" process. Maintained by the Program Manager and details all major program management decisions along with background info.
DEVELOP PROGRAM INFRASTRUCTURE
The process of distinguishing,, analyzing, and evolving the support framework for the program
DEVELOP PROGRAM MANAGEMENT PLAN
The process of documenting the action required to prepare and integrate the various management plans of the program
DIRECT AND MANAGE PROGRAM EXECUTION
The process of performing the work that is defined in the program management plan
Inpute in "Initiate" process. May be incorporated into the program's projects or other components and their risks and issues must be considered
EXISTING ORG STRUCTURES AND POLICIES
Inpute in "Initiate" process. Used to determine if the organization has sufficient resources for the program
Tool used in "initiate" process. Early engineering and financial analysis of a proposed project to determine its viability.
The process of attaining required signatures for completion or closure of a piece of the program or project or the complete program or project
Vital to the creation of valid plans and estimates for the program and its projects. Information from previous programs or projects that can be used to learn from success and failure
Tool used in "Direct & Manage Program Execution" process to assess the Change Requests
The process of gathering the data for effective program planning and obtaining authorization for the program charter
Commitment from the sponsor and the organization to start a program or project or to continue it to the next phase
INTERNAL RATE OF RETURN (IRR)
Choose the biggest percentage. A program or project comparison value; represents the discounted rate that zeroes out the net present value (NPV)
A meeting used to initiate the start of the program or project that is typically attended by all the key stakeholders and is usally held upon the completion of the Initiating or Planning processes. The meeting helps set expectations of what Planning will include and create when complete. If done for Executing, can include setting expectations on the program and communicating details of the PgM plan
A process meeting, and/or questionanaire to determine what worked and didn't work so that future initiatves will avoid what didn't work and embrace what did work. Include reasons for plan variance, correction acitons and results, and other info
MANAGE PROGRAM ISSUES
The process of analyzing each unplanned risk and determining necessary actions to mitgate a threat or enhance an opportunity
MANAGE PROGRAM RESOURCES
The process of monitoring, analyzing, and assigning program resources
MG PG ISSUES INPUTS (5)
1. PG MGMT PLAN - refer for risk mgmt and communications mgmt (how to handle an issue per the RRP, how to communicate)
2. AUDIT REPORTS - review for issues to be addressed regarding processes and policies for the program
3. PG RISK REGISTER - Review for potential impact of various options being considered
4. PG PERFORMANCE REPORTS - Review for reported issues from components, slips in schedules, spending, etc.
5. PG ISSUE REGISTER - Review for progress on open issues
MG PG ISSUES OUTPUTS (2)
1. Change Requests - formal approval needed to implement corrective actions needed to address issues 2. Pg Issue Register Updates - update new issues, status changs, path forwards, etc for each issue
MG PG ISSUES T/T (2)
1.ISSUE ANALYSIS - impact and severity assessments, root cause, possible solutions, etc.
2. EXPERT JUDGEMENT - need people that understand the issue and experience with such issues. Can't make good decisions if you don't understand what is happening!
MONITOR AND CONTROL PROGRAM PERFORMANCE
The process of ensuring that the program is proceeding according to plan. Once Pg Mgmt Plan created, ensures meets the performance goals outlined in the program management plan.
NOTE: This process is done THROUGHOUT THE PROGRAM LIFECYCLE.
NET PRESENT VALUE (NPV)
Choose the biggest number (NOTE: time is already factored in) A value used in capital budgeting in which the present value of cash inflows are subtracted from the present value of cash outflows; e.g., comparing the value of a dollar today versus the value of that same dollar in the future after taking inflation and return into account
The cost associated with giving up one opportunity for another; e.g., Project A $50K, Project B $75K; if you select Project B, it has an opportunity cost of the toal of Porject A, which is $50K
ORGANIZATIONAL PROCESS ASSETS
The various process-related assets from the organizations involved in the program or project work; can include templates, documentation, methods and procesures, and policies. AKA Process Asset Library
Choose the program with the shorted duration. The amount of time needed to recover theinvestment in the program or project
Formal document that gives authority to a program and states the following: Progrm Manager, Initial Scope (requirements), Constraints and Assumptions, Time and cost goals, Program justification, Authority level of the Program Manager, Stakeholder definition and level of influence, organizational information. Doc is usually created and signed by senior management or the sponsor.
The framework of the program; defines program required support and capabilities, considers requirements and issues unique to the program, and determines the interaction of components
PROGRAM MANAGEMENT PLAN PARTS
Scope mgmt plan, financial plan, Benefits realization plan, Contracts management Plan, Program Procurement Mgmt Plan, Schedule Mgmt Plan, Quality Mgmt Plan, communicaitons Mgmt Plan, Risk Mgmt Plan, Resource Plan
PROGRAM MANAGEMENT PROCESSES
Output of the "Develop Pg Infrastructure" process. A register of the processes needed to fulfill and manage the program framework.
PROGRAM RESOURCE PLAN
Output of the "develop program infrastructure process". A component of the program management plan that establishes the resources rquired to manage the program or conduct program governance
OUTPUT of Initiate Program Process. A chronological representation of a program’s intention for achieving the goals; includes strategic reasons for the work, key milestones, key decision points, and the key dependencies of major milestones, challenges and risks. CREATED: During Initiation Phase and part of the Charter USED as a baseline for program definition, planning, and execution.
PROGRAM TRANSITION PLAN
The plan that addresses moving component and program work into organizational operations
RETURN ON INVESTMENT (ROI)
Choose the program with the biggest number or percentage. The percentage of income derived from an investment; income divided by the investment
STEPS FOR MANAGE PROGRAM ISSUES
1. ADD TO ISSUE REGISTER
2. SENT TO REVIEWING AUTHORITY
3. SEND TO RISK Mgmt for further analysis and planning, Governance for oversight or Change Control, to Scope Management to determine whther the scope has been impacted
4. Resolving Process area updated the issue register when it is addressed.
5. Resolution or actions communicated to stakeholders
Person who has the authority and means to resolve and close the issue.
Formal document that states the company's conception of the program and its benefits
A set of integrated pieces used to achieve a specfiic program or project goal; the pieces could be actual processes, management processes, or a mix of both approaches
Tool used in "Direct & Manage Program Execution" process. AKA Margin or envelope. Defines the acceptable range for specific elements of aprogram such as scope, risk, schedule, or cost.
TYPES OF BENEFIT MEASUREMENT MODELS
Comparative Approach, Scoring Models, Benefit Contribution, Economic model
TYPES OF MATHEMATICAL MODELS
Constrained Optimization, Linear, Non-Linear, Dynamic, Integer, Complex calcs, Algorithms
WEIGHTED SCORING MODEL
A program or project selection technique in which criteria are defined, a weight is assigned to each criteria, each program or project is scored (the total of each individual criteria score times its weight), and selections are made
A technique which ensures that the right work is done at the right time in the right order
WORK AUTHORIZATION SYSTEM
A program or project management system that allows the right work to begin at the right time or in the correct sequence by the right people; the system can be as informal as Program or Project Manager approval or as formal as documented predecessors and signoff prior to work inception. May be used to help eliminate gold plating.
- assessing the impact and severity of an issue
- determine root cause
- possible solutions