Benefits and objectives for using standard Project Management processes

  • Identifies requirements
  • Establishes clear and achievable objectives
  • Maintains balance among demands for quality, scope, time, and cost by monitoring and controlling project activities
  • Adapts the project specifications, plans, and approach to the different concerns and expectations of the various stakeholders

FNL Standard Project Management Processes

The following project management processes are based on the PMI Guide to the Project Management Body of Knowledge Third Edition; however, the list is not all-inclusive. The following processes are suggested as a minimum requirement for all FNL projects.

  1. Define the project.

    To be considered a true project, the activity must be temporary; provide a unique product, service, or results; develop incrementally or in a step-wise fashion.

  2. Define the project objectives, or why the project is being performed.

  3. Define the project requirements and separate them into two categories, functional and technical. Clearly distinguish what the deliverables are and what constitutes the project’s “finish".

  4. Beginning with the creation of an initial high-level plan during the project initiation (just before the kickoff meeting with the project team), create a high-level work breakdown structure (WBS) containing the major steps in the project.

  5. The high-level WBS should be further elaborated by the project team during the planning phase in enough detail to manage the project without encumbering its progress with too much detail. The final WBS must contain enough detail to represent a manageable level of tasks.

  6. Next, networking the WBS tasks by adding predecessor/successor relationships and task durations forms the project schedule. The project schedule is based on estimated task durations; rarely should “start” or “finish” dates be assigned unless they are a true constraint beyond anyone’s control.

    The project budget is based on estimated task costs.

  7. Perform a Risk Assessment (qualitatively at a minimum and quantitatively for important projects) for each project task and a summary for the project.

  8. Define the material/capital, human, financial resources necessary to perform each task.

  9. Identify all the project’s stakeholders. Prepare a Communication Plan for reporting project status and progress based on each stakeholder’s needs and expectations.

  10. Control changes to the final project plan using documentation and formal approvals.

  11. Plan to monitor project quality by identifying criteria that define quality for the project in the following two ways:
    1. Project quality - compliance with FNL PM Standards

    2. Deliverable quality– (a) the use of documented standard processes and (b) the measurement of events such as the number of failures/lot, the number of successes/attempts, or satisfaction survey results indicating how the deliverables met or exceeded customer expectations upon delivery