Please provide the reply to the following post separately with no1. and no.2 and also put reference in APA:

No.1. Key Concepts of Project Management

Project

Definition - According to the Project Management Body of Knowledge,a projectis a temporary endeavor undertaken to create unique product, service, or result.ProjectManagementis the application of the process, planning, knowledge, skills, tools, and techniques to bring about the successful completion of specific project goals and objectives. Project Management differs from Operations Management in that operations management is focused on the ongoing, day-to-day activities of the company. While these two processes differ, they can intersect during the product life cycle (PMI, 2017). Examples include:

When developing a new product

During the product development process

At the end of the product life cycle

Program

Definition - Aprogramis a group of related projects and program activities managed to contribute to the same business objective or benefit.Program Managementis the process of analyzing and managing projects to support a corporate strategy, ensuring that projects are aligned with the business strategy, as the strategy changes (Governance Business, 2019). Program management allows organizations to have the ability to align multiple projects for integrated costs, schedule, effort, and benefits. Program management includes activities like resolving resource constraints and/or conflicts that affect multiple projects within the program; aligning organizational/strategic direction that affects the project and program goals and objectives; and, resolving issues and change management within a shared governance structure (PMI, 2017).

Portfolio

Definition - Portfolio is a collection of projects, programs, sub portfolios, and operations managed as a group to achieve strategic objectives. All these items may not necessarily be interdependent or directly related. According to the PMBOK Guide, Portfolio Management aligns with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the needed resources. Portfolio management provides a holistic picture of the organization projects and programs.

Real World Example

A series of projects to implement a new software system. These projects could be

A software development for a new electronic patient management system

A decommissioning project to sunset the old system

A remediation project to ensure reporting and analytics are migrated to the new system before the old one is decommissioned

An example of two programs associated with these projects would include

A telemedicine initiative designed to provide expanded medical service to underserved populations

The development of a chronic disease registry to consolidate needed services across a specified patient population

The project and the programs would be part of the portfolio designed to expand the bed capacity of the hospital by 50%.

Summary

A project is focused on creating a unique product, service, or result. A program is a collection of projects that need to be managed and coordinated together and, a portfolio is a collection of projects and programs that are managed as a group to achieve strategic goals and a business value. The diagram below offers a visual representation of how these entities work together.

Portfolio, Program, and Projects - What are the differences? https://governance.business/2019/01/16/portfolio-program-and-project-management-what-are-the-difference/

Project Management Institute, (2017), Project Management Body of Knowledge, 6^thedition, Newton Square, PA

No.2.

Case Study: Space Shuttle Challenger

ThePMI Code of Conductis broken down into four sections that give guidelines on what you should do to make sure that you stay ethical in your decisions as a project manager. The four sections are Responsibility, Respect, Fairness, and Honesty. Within each of these main categories there are smaller sections that give rules or guidelines that are to be followed. The Space Shuttle video that we watched gave an overview of what happened on January 28, 1986 in Florida to The Challenger. The Director of the space shuttle project spoke about what all happened before and after this horrific accident. The engineers had made an assessment of the cold temperatures and said that they shouldn't launch if it is below 53 degrees because the O-rings would not be able to withstand the cold air. On that day it was 22 degrees and there was ice hanging on the space shuttle and its platforms. Although McDonald knew that they shouldn't launch, those above him felt otherwise and decided to go ahead with it. Their decision to go ahead and launch unfortunately ended in the space shuttle blowing up and causing multiple of deaths. It was a very sad event and there were a lot of people watching it occur - live and on TV. Based on these decisions, there were a lot sections of thePMI Code of Conductthat were violated by the stakeholders. Below I have listed some of the ones that stood out to me.

• 2.2.1 - They did not take action based on the best interests of public safety and the environment.
• 2.2.4 - When they made the error of still launching, they did not take ownership of it. In fact, McDonald had to go back and prove that he had told them (and the engineers) that they shouldn't.
• 2.2.6 - They did not hold each other accountable to thePMI Code of Conduct
• 2.3.2 - McDonald did not report the unethical activity to anyone above the ones making the decisions. Had he done this, it may have resulted in a different ending.
• 4.2.1 - They were not transparent in their decision process; in fact they did not explain it to anyone as to why they decided to go ahead and launch knowing that it wasn't a good idea.
• 5.3.2 - The engaged in dishonest behavior at the expense of others lives

In my opinion, the lessons that were learned from this were that there need to be processes and procedures in place that double check decisions that are made. I feel as though they also will not let one person make such a drastic decision without checking with others first. There were a lot of people telling them based on factual evidence that it was too cold to launch, but still went with it because they didn't want to postpone.

Honestly, I do not personally remember this happening but I have been to a museum that talked about it and so I had heard a little about it prior to this assignment.

Project Management Institute. (2022).PMI Ethics Resources. Retrieved March 25, 2022, from https://www.pmi.org/codeofethics

Space Shuttle Challenger Ethics - Case Study. (2017, September 9). YouTube. Retrieved March 25, 2022, from https://www.youtube.com/watch?time_continue=1&v=3fXytSrEoRc&feature=emb_title