Federation for the Management of Projects - Fundamentals
Change Management
Change management is the discipline and set of practises designed to guide individuals, teams and organisations through a period of transition or transformation. It entails managing the human aspect of change to minimise resistance, maximise adoption and ensure the successful implementation of new strategies, processes, technologies or organisational structures. Change management focuses on addressing the psychological, emotional and cultural aspects of change to foster an accepting and receptive environment.
The Business Case
The business case is a comprehensive document that justifies a business initiative, endeavour or investment. It is intended to help decision-makers comprehend the proposed action’s prospective benefits, costs, risks and expected outputs. It documents the “why” and justifies the project’s existence.
Benefits Management
Benefits management is a method for identifying, planning, monitoring and realising the anticipated benefits of a project, programme or portfolio. It includes the processes, tools and techniques used to ensure the intended benefits are defined, aligned with organisational objectives and managed effectively throughout the project life cycle.
Risk Management
Risk management is the process of identifying, assessing, planning and implementing risk responses to threats or opportunities that may impact an organisation's objectives. It entails analysing prospective threats and opportunities, determining their likelihood and impact and developing plans to manage them.
Issue Management
Issue management entails identifying, addressing and resolving issues that arise throughout the project duration. Issues can refer to any unanticipated events, obstacles or deviations from the planned project activities that have the potential to affect the project's success. Effective issue management reduces negative impacts on project outputs and keeps the project on track.
Stakeholder Management
Stakeholder management is the process of identifying, analysing and engaging with individuals or groups who have an interest in a project, organisation or decision or who may be affected by it. Stakeholders, such as employees, customers, suppliers, shareholders, government agencies and community members, can be both internal and external.
Requirements Management
Requirements management entails identifying, documenting, prioritising and controlling the project's requirements. Throughout the project life cycle, it ensures project objectives are explicitly defined, understood and met. Effective requirements management contributes to scope creep minimisation, project cost control and delivery of intended project outputs.
Information and Knowledge Management
Information and knowledge management focuses on effective acquisition, organisation, storage, retrieval, sharing and utilisation of information and knowledge within a project. It entails the processes, strategies and technologies used to manage information and knowledge assets to support decision-making, issue-solving, innovation and overall organisational effectiveness.
Quality and Assurance Management
Quality and assurance management is an organised approach to assuring products, services or processes satisfy quality standards and customer expectations. It entails coordinating activities and processes to monitor, evaluate and enhance quality across an entire project.
Procurement Management
Procurement management encompasses the processes required to purchase or procure required products, services or results from sources external to the project team. It involves managing contracts issued to vendors, as well as managing procurements from both the customer's and supplier's perspectives.
Planning Management
Planning management is the process of delineating objectives, identifying necessary activities and devising a strategy to achieve those objectives. It involves analysing the current situation, establishing objectives, identifying tasks, estimating required resources, establishing deadlines and developing a road map for project activities.
Cost and Budget Management
Cost and budget management comprises the processes and activities involved in estimating, planning, monitoring, controlling and optimising a project's financial resources. It requires effective management of project costs and adherence to the budget throughout the project life cycle.
Resource Management
Resource management refers to the process of planning, allocating and using organisational or project resources to achieve intended goals and objectives. Project resources, financial resources, apparatus, materials, technology and information are examples of resources.
Monitor and Control Management
Monitor and control management is a vital component of project management that focuses on monitoring the project's progress, efficiency and deliverables and taking necessary actions to keep the project on track and within scope. This stage is ongoing throughout the project's life cycle and includes periodic evaluations, analyses and adjustments to ensure project success.
