FIT5057 - Week 1: Project Management Fundamentals & Value Delivery

Temporary, Unique Context, and Value Creation via Organizational Change.

Projects are temporary endeavors that create unique outcomes, whereas Operations are ongoing and continuous activities.

Output -> Outcome -> Benefit -> Value.

A Project is a temporary unique endeavor; a Programme is a group of related projects managed together for extra benefits; a Portfolio is a high-level collection of projects, programmes, and operations aligned to overall strategy.

1) Proactive (See ahead, build in), 2) Value-Driven (Worth over mere work), and 3) Ownership (Own it, trust your team).

1) Adopt a Holistic View, 2) Focus on Value, 3) Embed Quality Into Processes, 4) Be an Accountable Leader, 5) Integrate Sustainability, and 6) Build an Empowered Culture.

Inputs, Tools, Techniques, and Outputs; it is the standard framework describing how project activities transform raw information/materials into finished deliverables.

Focus Areas are the 5 operational stages of a life cycle (Initiating, Planning, Executing, Monitoring/Controlling, Closing), while Performance Domains are specific technical work areas (e.g., Scope, Risk, Finance).