PM Concepts

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PM CONCEPTS AND THE PM TRIPLE CONSTRAINT OVERVIEW

PM Concepts are a set of terms, tools, techniques and processes that drive effective project management within each SDLC phase. PM Concepts are grouped into ten broad categories and organized into a structure known as the "House of Project Management". The House of PM is a three tier structure which leverages professional standards, e.g., *PMBOK Guide, and best practices to communicate and reinforce key PM principles. The first tier includes "fundamental concepts" consisting of scope management, schedule management, cost management and human resource management. The second tier includes "intermediate concepts" consisting of risk management, procurement management, quality management, communication management and integration management. The third tier includes "advanced concepts" consisting of project portfolio planning and resource capacity management.

1. Scope Management: ensure that the project includes all the work required, and only the work required, to complete the project successfully.*
2. Schedule Management: the processes required to accomplish timely completion of the project.*
3. Cost Management: the processes involved in planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.*
4. Human Resources Management: the processes that organize and manage the project team.*
5. Risk Management: the processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project.*
6. Procurement Management: the processes to purchase or acquire the products, services, or results needed from outside the project team to perform the work.*
7. Quality Management: the processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken.*
8. Communication Management: the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information.*
9. Integration Management: the processes and activities needed to identify, define, combine, unify and coordinate the various processes and project management activities.*
10. Project Portfolio Planning & Resource Capacity Management: the processes and activities required to evaluate, select and prioritize a group projects based on technical, cost, schedule and resource constraints.

*PMBOK Guide

THE PROJECT MANAGEMENT (PM) TRIPLE CONSTRAINT

The PM Triple Constraint is an overarching project management principle that requires the balancing of three competing priorities - scope/quality, schedule/time and cost/resources - so that when a change is made to one, there must be a review of the other two priorities to determine if there is a potential impact.

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