CT 5 Project Management Standards And Processes Review the Portfolio Project instructions in the Module 8 folder. This Portfolio Project Milestone completes the requirements for the Section 1: Principle Components Discussion, which is common to both options.

CT 5 Project Management Standards And Processes

Review the  Portfolio Project  instructions in the Module 8 folder. This Portfolio Project Milestone completes the requirements for the Section 1: Principle Components Discussion, which is common to both options.

Using the essay paper framework that you drafted in Module 2, add substantive content to the remaining Section 1: Principle Components Discussion items, which describes the project management standards and processes based on the Project Management Institute’s A Guide to the Project Management Body of Knowledge® (PMBOK® Guide – 7th ed.). For each of the following items not previously completed in the Module 2 Portfolio Project Milestone, include a brief, yet substantive synopsis (typically, 1- to 2-paragraphs for each subsection level-2 bullet item). Most of these items are Performance Domains (to find out more about these items, see Section 3.5 of the PMBOK Guide – Seventh Edition):

· Project, Program, and Portfolio Management distinction

· Project Prioritization and Selection Criteria 

· Project Charter (plus project charter template to be included in an appendix)

· Project Development Approach and Life Cycle

· Project Stakeholders

· Project Team (e.g., the Project’s Organizational Breakdown Structure (OBS))

· Project Planning

· Project Work 

· Project Estimating

· Uncertainty

· Measurement

Make sure your work satisfy these requirements:

1. Provide reference page(s) listing any appropriate references cited.

2. Provide the 1-2 page Project Charter template in an appendix. Please note that the project charter template must address the unique requirements of small-to-medium size projects in a global organization. Your Portfolio Project Milestone essay, which includes the completed Section 1: Principle Components Discussion (now expanded to approximately 6-7 pages), must include substantive, well-supported content.  

3. Include the Portfolio Project option that you selected as part of the cover page and the paper title to confirm which scenario-specific project management simulation you will complete and that aligns with your Portfolio Project option.

CT6: Options #1 & #2: Project Management Simulation

Review the description of the two simulation options in the Module 8 folder and complete the option that aligns with the  Portfolio Project  option you selected and have been working on.

The project management simulation assignment consists of two parts.

Assignment Parts

Part 1: The Simulation Experience

Run the simulation, trying various what-if assessments to obtain a better score and complete the designated scenario. In doing so, you will benefit from running the sessions using different options and trying different action items to experience various project challenges. After completing the simulation session for the designated scenario, capture a screen image of the confirmation page showing your total score for the scenario.

For Option #1: The simulation experience comprises Scenario A; or,

For Option #2: The simulation experience comprises Scenario B.

Simulation Link:  Project Management Simulation: Scope, Resources, Schedule V3   (Product #: 7701-HTM-ENG)

Part 2: Essay

After completing the simulation, write an essay that addresses the following elements based on the simulation scenario that you performed. (This part is common to both project and assignment options.)

· Explain the intent of the simulation scenario.

· Describe your lessons learned based on the what-if assessments and explain how the methods applied to audit and terminate projects are used to capture lessons learned.

· Describe how the simulation experience can be used to enter (or advance) your career as a project manager, and

· Describe how proficiency in the use of project management systems as demonstrated in the PMS Resource Center can be applied to enter (or advance) your career as a project manager.

Additional Instructions

Properly organize your writing by including the following:

· Cover page

· Introduction

· Body of your work in response to the assignment’s key elements, with headings and subheadings

· Conclusion

· List of references

· Appendices—containing captured screen image of the confirmation page showing your total simulation score for each scenario performed

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