Chief Product Team 
Do you want to learn more about the project management framework? If so, this section is perfect for you to learn. Let’s take a look.
What Is a Project Management Framework?
A project management framework is a structured planning process that can be used for projects with high risks, large scale, and high complexity. A project management framework provides the consistency of the project management process in different phases. It is used by project managers and leadership teams to guide the overall project management process.
Project Management Framework Benefits
Project management frameworks provide benefits to projects such as:
- Provides consistency of the project management process
- Delivers guidance and direction to the project team members
- Provides a set guideline for the work to be done and how it will be performed
- Provides a clear understanding of how the different aspects of the project are related to each other
4 Key Elements of Project Management Frameworks
A project management framework includes the following key elements:
Project Vision and Strategy
Project vision and strategy are the goals of the project. They describe how the project will achieve its objectives. The project vision is usually a short phrase or sentence that describes what the project is trying to accomplish. The project vision is often expressed in plain English. Project strategy describes how the project team will accomplish its goals. It also describes how the team will use success criteria to measure if they have met their goals.
In addition, the project strategy should explain how the vision will be achieved by the end of the project. It also details which activities need to be completed to reach that goal and how each activity contributes to reaching the goal.
Project Objectives and Success Criteria
Project objectives and success criteria are the measurable goals for the project. The measurable goals are usually a combination of the project vision and project strategy. The objectives define what the project should accomplish or deliver at the end of the project. Also, the success criteria measure whether the project has met its objectives. An example of success criteria is that 90% of the project team members should approve of their deliverables at the end of each stage.
Another example is that internal customers should value 80% of their deliverables at the end of each stage. The success criteria are set by leadership and approved by upper management before any work begins on a project. When you define your success criteria, make sure they are specific, measurable, realistic, and time-bound.
Scope management plan
The scope management plan is a guide to define the scope of the project. It describes what the project should include and exclude. The scope should also be defined in terms of content, quantity, and quality. It should also include any constraints, assumptions, and risks that are related to the project.
Time management plan
The time management plan is a guide to define the time and cost for the project. The time management plan defines when tasks and activities should start when they should be completed, and how long they should take to complete. It should also include a budget for the project. The budget for the project includes labor costs, equipment costs, supplies costs, and any other costs related to the project. It provides an estimate of the total cost or budget for the project.
