Project Management

Agile doesn’t trade places with traditional project management which is centered around water-fall methodology. Hence Agile doesn’t counter against PMI®, long known for its project management credentials through PMP, rather it complements… Let’s get the insight on why do we recommend Agile. It is to be noted that PMI features PMI-ACP® as one of its flagship certification which is fast gaining grounds, if the traction is any indicator. We are one of the leading lights in knowledge and certification of PMI-ACP® and regularly conduct training and workshops on key locations around the globe. Let’s move on to the narrative. 

Many talented professionals who are capable of cracking the PMP® exam at their first attempt fail to do so for a number of reasons ranging from domestic to demand of the day. But the most common amongst the reasons attributed is ‘Procrastination’. “No Time” is the often heard refrain. Whether they develop cold feet or deeply immersed in their work to take shift their attention, the PMP Exam is given a pass and pushed to another day. Some of the professionals interviewed cited reasons that might sound unbelievable, but then that’s their version. We have listed some for your reference as a precautionary note not to delay or defer in taking up the exam. Every single day you lose is something lost forever. On case your mind is set in appearing for the exam and obstacles of any kind can appear as stumbling blocks, you still can overcome the odds and not use or search for excuses.

Did you know the rise of the demand for qualified project managers? 12%* Did you know number of jobs expected to be created in the global industries like IT, BFSI, Manufacturing, Oil and Gas, Construction? It’s about 15 million jobs.* Did you know the median salary of a project manager in the U.S? $108,000* Did you know how much more a PMP credential holder earns? 16% more* Did you know the number of number of PMP credential holders at the beginning of 2014? 600,000 (723,067 as of May 2016.)* * The data presented about is sourced from PMI’s Industry Forecast – “Project Management between 2010+2020”, March 2013. 

Profile A high-tech company in the travel industry has bagged a contract from a reputed Client for data migration with phased delivery over a period of ten quarters. The project plan was created based on the requirements available. Since the project spanned in time, the data points presented covered only a year, which was deemed good to start by stakeholders. The visibility was for only one year and hence the limitation with data available – which is expected and accepted in this kind of engagement. The budget for the said timeline was apportioned. The team identified to undertake the project was present in different locations as a strategic call. The Pain Point It will be the assumptions that will turn out to be the worst of risks. The stakeholders agreed it was a long tunnel but not quite certain about the length. Since it was a time bound, the requirement gathering was focused for the first quarter as agreed by the stakeholders and signed-off. Assumptions can become one of the major risks. The team initially settled on a framework only to change after the first sprint. The change would impact the team composition calling for ‘sourcing’ soon after launch that sent the human resources scrambling for talent. The need of the hour is never met and that’s the lesson learnt and hence due diligence paid to the selection from talent pool. With new resources inducted, there was already burn on time and cost, the knowledge transfer turned out to be to be too steep and the project plan revisited to factor the changes. There were different verticals within the team which started concurrently, and it was the approach of the scheduled milestone that sent the alarm bells ringing as one of the core development team failed in meeting the deadline and thereby derailed further developments adversely impacting other teams as the output will be the primary feed for them to move forward. It had a typical domino effect shaking the entire team. When the causal analysis was conducted, the results unearthed many issues that seemed to be swept under the carpet. Communication weren’t open and transparent; accountability absent and leadership clueless as team members tried passing the buck and concerned about safeguarding their position. The most baffling will be the lack of attention to basic details. There should have been a single point of contact for escalation; People Management and Stakeholder management. The root cause clearly spells poor communication and lack in understanding. The bottleneck undoubtedly was communication management. Clearly the opportunity would have been squandered if not for the milestone. It was the worst wake-up call for a company known for its intellectual capital and track record. Analysis revealed that the actual against planned in the project plan left a gaping hole and lacked foresight for risk mitigation particularly to problem faced as such a scenario was never contemplated. How? That’s why the absence to attention on basic details. Too much rode on assumptions. The impacts due to the imbalance resulted in # changes in the team composition which proved too expensive at that point in time as investment and Knowledge Transition and team ramp-up # Conflicts in the mid-management The squabbles stressed the need for conflict resolution through effective people management and stakeholder management. Troubleshooting It was back to basics about team-building with open communication, more transparency and greater accountability. The team met frequently till all onboard were on the same page. Having ceded grounds, it’s more prudent to save and salvage and move on. Since it was the first milestone, the impact on the short-term goal was severe and long-term could be contained. The positive impact can be captured as # Commitment from the stakeholders on requirements and delivery # Transparency /Clarity to all the stakeholders Recommendations The Plan B that somehow missed the plan should be prepared. The alternate scenario for worst cases should be assessed and addressed. The assumptions must be studied again and stakeholders should provide clarity in closure. The team should be cohesive and engage effectively to expedite delivery. The Start of the Day and End of Day of meeting must analyze the day’s target and plan for next day deliverables. The leadership to introduce SPOC and take stock at regular intervals (smaller intervals as possible) till things are streamlined and then schedule the standard stand-up meetings

Records reveal that 90% of the productive time engaged by Project Managers is on communication. The PMI’s 2013 Pulse of the Profession report states that effective communications to all stakeholders as the most critical in project management. The report further cautioned about the high risks due to poor communication, which is a shocking figure of 56% percentage. One of the reason attributed to this rise in risk is the negligence to proper communication as project managers, at times, tend to take it for granted. Communication during the inception, especially about requirement walk-through can prove critical and impact the outcome of the project. It’s important all the stakeholders well informed and educated about the expectations. Capturing the requirement correctly – usually exchanging notes and drawings or prototype – is again typical communication management. If the start is good, it’s as good half the battle won. Most of the failures when analyzed point to the requirement analysis when the customer and vendor’ understanding failed to match. Furthermore, effective communications prove to be main reason(s) for successful execution of projects by meeting deadlines with some delay and at cost. It spells top performance of all the stakeholders. For the scope of this article, let’s look at key aspects that stress the need for effective communication in a business project. Understanding stakeholders’ expectation: it’s easy to misread as ‘requirements’. Stakeholders always have an expectation as to how the project should evolve and shape up. It will be difficult to gauge the expectation in the first call and hence it’s iterative. The back and forth exchange is a necessity till all involved are able to read and interpret the message in voice – unanimous. The objectives agreeable mutually should be engaged as the mission of the project. Risk Mitigation: Any undertaking will have its share of risks. Black and white is almost picture perfect. There will be some grey area, which is expected in a business engagement. . When the communication is free and frequent, chances are good in ironing out the difference and closing the gaps. The worst of risks are the assumptions made in the absence of valid or required information. Correspondence between different stakeholders will cut down the clutter and enhance understanding. The better the understanding, lesser will be the assumptions. Assumptions are inevitable, but efforts should be made to keep it to the minimum with least impact. Transparency leads to trust. Communication helps to earn the stakeholders confidence. Much depends on the matter and manner which is being communicated and the manner. Its time bound and information critical to build a good rapport in order to build credibility. When there is nothing to hide, why will be the need to doubt? Open and transparent communication always clear results in garnering goodwill and establishing trustworthiness. An honest response that conveys an unpleasant message might be difficult to savor but that’s how integrity is build. Trust deficit or erosion can create serious conflicts in slowing or stopping project. On the other hand, earning stakeholders’ confidence will help in better understanding within both the parties to allow some leeway or latitude. All said and done, it boils to the trust – how reliable you are, and more importantly, truthful. Precise and concise communication. Prompt, punctual and proper exchange of information using appropriate channels defines communication. How many actually acknowledge a mail receipt – though it’s the best way to assure. It doesn’t need to be rich in prose or sound poetic – a simple message using simple language is enough as long it communicates the required and desired information. Besides, stakeholders, especially decision makers are always short of time and may not be read the length of the letter. Hence it’s recommended to keep it precise and to the point. Regular and frequent communication. It’s never construed as disturbance when it comes to the messages affecting the commitment. Free and forthcoming communication that’s scheduled or unscheduled is always welcome and never understood as an intrusion specifically about project updates. The daily status report, weekly status report and similar reports are scheduled ones that are expected. And any alerts, warning or clarification exchanges are unplanned or unscheduled. Frequent communication will help in project navigation and better understanding of the actual progress made as accountable stakeholders will confirm or raise flags as concern to undertake remedial measures, if required. Communication Management features as one the knowledge areas in PMI’s PMBOK® A Guide to the Project Management Body of Knowledge (PMBOK® Guide). If you have a comment, please drop by and we can discuss it further. We are one of the leading educational service provider offering project management programs as part of niche certification courses. In case you are interested to know more about our programs, please visit our website www.icertglobal.com.

The iron triangle is too tough to balance. Too often or not, it was observed that one axis is either long or short compared to the other two. And it might be near perfection to maintain equidistant axes. Project stakeholders are left perplexed tearing the hair wondering what went wrong, and ‘how didn’t we see that coming? We failed to detect and decipher the warning. Did we throw caution to the wind?’ that will sound too critical as due diligence is done through detailed discussion and deliberation before inking the contract, yet, projects going off the rails poses serious threats in damage control and contingency measures. What went wrong should be a lesson learnt for the next or projects in pipeline, yet projects seems to stumble in the same spot flummoxes and shakes the foundation. It might sound clichéd or routinely repetitive but professionals tread on a beaten track and worn out path, and ironically can’t sight the pitfalls and potholes? What possible oversights that project suffer – that are ‘known’ knowns and still found wanting on action and remedy.

Conflict amongst co-workers is a common occurrence in the work place. If there isn’t none, call that a monastery, even where doubt persists about domestic disturbance. We aren’t programmed metallic boxes but people with a myriad of emotions that at times, distracts from some difficult and disturbing disagreements which stem mostly from difference of opinions, when taken personally proves toxic and dismembers from the team. Too often distancing away, avoiding eye-contact, building blocks of hate, digging wells of anger and raising wall of resentment are too many symptoms of this malaise. This further deteriorates to forming allies who would have endured something similar and hence a common thread that connects the complaint. So a tussle between two extrapolates in numbers, and before the situation could be brought into control, its blown away out of proportion as finding a way to settle personal scores can’t find a better timing than the present confrontation. So one versus another turns out to be they vs. them - factions of dissent. And of course, those defectors within the dissenters and add to the woes, the fence sitters. So two embittered employees embroiled in an encounter escalate to the point of livelihood endangerment? Better to sack than put up with the strife? Ridiculous. The best is to resolve. Interpersonal conflicts is a given in our daily walk of life from haggling with a vendor – and hence the disgruntled customer, to the ticket collector in the bus short of change fuming at you for the lack of, and so will it be in an organization. Conflicts can be due any reasons from skirmishes or stress or pressure or plainly put, ego. An argument is usually an assault of words, and accusations hurled out of which conflicts arise in your work and outside work as well.

There seems to be early burn-out in IT professionals. Doctors are appalled at the heart-risks and related ailments; whenever a young person wheeled into the emergency ward, the first question invariably is “are you working in IT?” why is it so? Job pressure, peer pressure, management pressure – the stress is too much. A number of factors collide and contribute to this havoc wreaked on youngsters. Heart attack in the forties or fifties doesn’t shock or surprise but in late twenties and early thirties psyches the physicians, who are perplexed dealing with the predicament. Such is the severity, and cut-throat the companies, employees either by choice or force end up staying late at their desk ‘burning the midnight oil’. Does the number of hours clocked or the contributions count? The misconception in the market is that one who spends long hours in the office is deemed ‘hard working’. Anything less and your talent is questionable or the workload is not just enough to justify your paycheck. So some just pretend to stretch or ‘kill’ time by indulging in other activity instead of freeing up bandwidth to take up additional tasks. “If I do this task or accommodate more chores in addition, will the amount in the salary credited change?” this reflects not just the individual lack of commitment, but reflects poorly on the leadership as well. Devotion to work should be wilful, lest it leaves one dissatisfied and disgruntled. Once resourceful, now turned rebels are primarily due to poor people management. Long and late nights are part of the daily rigor of an IT Professional. Time consumed at office leaves with less for family. Everything ought to be balanced – including work. A project manager, whom I used to report, will sit beside me and plan the ‘tasks for the week’ taking my inputs for the ‘hours allocated’ and sometime let me estimate the ‘number of hours’. Effort estimation is both critical and crucial. Bagging the project by heck or crook, and later slogging the days, night and weekend are typical signs of burnout. It’s like cutting the foot to match the boot. That’s not project management. Weekends usually act as buffer and my manager managed on the maxim of “if you can’t get the work done in eight hour, either you are inefficient or incompetent." People also tend to procrastinate – another malaise with no medicine in sight. Hence there is no blaming the managers alone. Both sides suffer from their own shortcoming and apparently there has to be a middle ground.

This is not some fictitious account but facts presented in the form of a case study. A project in the construction industry with a budget of $10 Million was overshot by 20%. One might wonder what would be the margin then, clearly marking the bottom-line in red. 

There seems to be early burn-out in IT professionals. Doctors are appalled at the heart-risks and related ailments that when wheeled a young person into the emergency ward, the first question invariably is “are you working in IT?” why is too so? Job pressure, peer pressure, management pressure – the stress is too much. a number of factors collide and contribute to this havoc wreaked on youngsters. Heart attack in the forties or fifties doesn’t shock or surprise but in late twenties and early thirties psyches the physicians, who are perplexed dealing with the predicament. Such is the severity, and cut-throat the companies, work force either by choice or force end up staying late at their desk ‘burning the midnight oil’. 

Does the number of hours clocked or the contributions made in fewer count. The misconception in the market is one who spends long hours in the office is deemed ‘hard working’. Anything less and your talent is questionable or the workload is not just enough to justify your paycheck. So some just pretend to stretch or ‘kill’ time by indulging in other activity instead of freeing up bandwidth to take up additional tasks. “If I do this task or accommodate more chores in addition, will the amount in the salary credited change?” this reflects not just the individual lack of commitment, but reflects poorly on the leadership as well. 

Devotion to work should be willful lest its leaves one dissatisfied and disgruntled. Once resourceful, now turned rebels are primarily due to poor people management. Hours makes one hardworking? Then at what cost? Tradeoff at the cost of health? Everything ought to be balanced – including work. 

A project manager, whom I used to report, will sit beside me and plan the ‘tasks for the week’ taking my inputs for the ‘hours allocated’ and sometimes let me estimate the ‘number of hours’. Effort estimation is both critical and crucial. Bagging the project by heck or crook, and later slogging the days, night and weekend are typical signs of burnout. It’s like cutting the foot to match the boot. That’s not project management. Weekends usually act as buffer and my manager maxim of “if you can’t get the work done in eight hour, either you are inefficient or incompetent.’  People also tend to procrastinate – another malaise with no medicine in sight. Hence there is blaming the managers. There has to be a middle ground. 

The 40 hour week

Any project manager with appreciable knowledge and experience will not estimate more than 8-hours as man day in the project plan. How many hours do the team work is another question but for the record its hours, and usually the weekends are not factored – and mostly serve as buffers. Remember time is money and hence any inflation in your estimation will have an adverse implication on your cost estimation. The budget balloons and the project just slipped out of your hands. It’s a typical trapeze act or skating on thin ice. So balancing the 40-hour and keeping the project within cost calls for a skilled and smart time management.

Performance and Productivity

No matter how many hours you clock, its 4 hours spread across 8.  The body might be willing but the mind simply is not up to it. Exhaustion, fatigue leads to failure. Your ability to concentrate ebb s with passage of time. There should be a reason why Henry For came out with the brilliant strategy of ‘weekend’ so as to boost morale, improve productivity and increase time spent with family.  Sources from public domain cite that working fewer hours increase productivity and thereafter tend to wane.

Work-Life balance

“I am too busy at work” is the usual refrain. You start before the kids awake and return after the fast asleep. Many professionals itinerary falls in to this pattern. Genuine cases of work chewing and even gobbling time is a possibility but that can’t become the norm. Its not family first or work at any cost. One has to strike a balance to do justice to both – stakeholder management.  Your internal and external client included family too is part of stakeholders. And its important to attend on everyone, and if possible content.

A gallup study revealed that we work 47 hours – which is 7 hours more. What will all the dollars, incentive, promotions and perks amount when the people you value the most – your family aren’t there to share your moment to happiness and bask in glory. 

PMI (Project Management Institute) was expected to roll out the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition by the third quarter of 2017.  AND IT IS OUT. 

What are the changes in the Sixth Edition?

>> Approaches to Agile.

Every knowledge area will be inclusive of approaches to Agile, Iterative and Adaptive Environments’. This section will detail the integration of agile practices in project backgrounds.

 >> PMI Talent Triangle™.

PMI spells the details about the technical skills, business intelligence, and leadership considered the key skills for success. It is also known as Talent triangle. 

>> The size of the book.

The fifth edition PMBOK® Guide, has 13 chapters that spans 415 pages. The sixth edition is expected to be quarter the size of the 5th edition, which means it should be close to 84 pages and the number of chapters too have come down to 10. So, sixth edition should be 10 chapters with 84 pages in the draft version.

>> Inputs, Tools & Techniques, Outputs (ITTOs).

The sixth edition will not dwell deep into ITTOs, rather it will be covered at a high level.

>> Alignment with Process Groups.

The sixth edition will be divided based on the 5 process groups, and not the 10 knowledge areas. This is considered as a major change. The Role Delineation Study (RDS) conducted by PMI has presented its findings and proposed the changed to be aligned with process groups.

>> Combination of first three chapters.

In the sixth edition, the first three chapters  combined as one – the interpersonal skills of the project manager and organizational skills will be merged in to one.

>>Two processes are expected to be deleted.

The Close Procurement process and Estimate Activities Resources are more likely to be deleted.

>>Two knowledge areas to be renamed.

Time Management  and Human Resource Management to be renamed.  Time management will be renamed Schedule management, while Human Resource Management becomes Resource Management.

 >> Knowledge Areas to feature four section.

Every knowledge areas will have four new sections, namely, Key Concepts, Trends and Emerging Practices, Tailoring Considerations and Considerations for Agile/Adaptive Environments.

 >> An exclusive chapter on role of Project Manager.  

This chapter on Project Manager will cover the key concepts about core competencies, expertise, leadership skills expected in leading a project.

 Reference source: http://www.examspm.com/2016/07/16/pmbok-6th-edition-release-date-changes/

https://www.pmi.org/pmbok-guide-standards/about/current-projects

http://www.pmi.org/certifications/types/project-management-pmp/update

https://www.pmi.org/pmbok-guide-standards/foundational-standards-exposure-draft

https://www.pmi.org/learning/training-development/talent-triangle

image courtesy: https://www.pmi.org/pmbok-guide-standards

Key Features of PMP Certification Training

Introduction

iCert Global conducts 4-day instructor-led classroom and 4-day instructor-led Live Online PMP Certification Training Course to prepare professionals for the Project Management Professional (PMP®) Examination.

What will you learn in this PMP Course?

5 Phases of Project Management Lifecycle

• Project Initiation
• Project Planning
• Project Execution
• Project Monitoring and Control
• Project Closure

10 Knowledge Areas of Project Management

• Project Integration Management
• Project Scope Management
• Project Schedule Management
• Project Cost Management
• Project Quality Management
• Project Resource Management
• Project Communications Management
• Project Risk Management
• Project Procurement Management
• Project Stakeholder Management

49 Processes in Project Management

Integration Management Processes:

#1 – Develop Project Charter process

#2 – Develop Project Management Plan process

#3 – Direct and Manage Project Work process

#4 – Manage Project Knowledge process

#5 – Monitor and Control Project Work process

#6 – Perform Integrated Change Control process

#7 – Close Project or Phase process

Scope Management Processes:

#8 – Plan Scope Management process

#9 – Collect Requirements process

#10 – Define Scope process

#11 – Create WBS process

#12 – Validate Scope process

#13 – Control Scope process

Schedule Management Processes:

#14 – Plan Schedule Management process

#15 – Define Activities process

#16 – Sequence Activities process

#17 – Estimate Activity Durations process

#18 – Develop Schedule process

#19 – Control Schedule process

Cost Management Processes:

#20 – Plan Cost Management process

#21 – Estimate Costs process

#22 – Determine Budget process

#23 - Control Costs process

Quality Management Processes:

#24 – Plan Quality Management process

#25 – Manage Quality process

#26 – Control Quality process

Resource Management Processes:

#27 – Plan Resource Management process

#28 – Estimate Activity Resources process

#29 – Acquire Resources process

#30 – Develop Team process

#31 – Manage Team process

#32 – Control Resources process

Communications Management Processes:

#33 – Plan Communications Management process

#34 – Manage Communications process

#35 – Monitor Communications process

Risk Management Processes:

#36 – Plan Risk Management process

#37 – Identify Risks process

#38 – Perform Qualitative Risk Analysis process

#39 – Perform Quantitative Risk Analysis process

#40 – Plan Risk Responses process

#41 – Implement Risk Responses process

#42 – Monitor Risks process

Procurement Management:

#43 – Plan Procurement Management process

#44 – Conduct Procurements process

#45 – Control Procurements process

Stakeholder Management:

#46 – Identify Stakeholders process

#47 – Plan Stakeholder Engagement process

#48 – Manage Stakeholder Engagement process

#49 – Monitor Stakeholder Engagement process

Below image represents the Project Management Process Group and Knowledge Area Mapping.

What are the key features of our PMP certification training courses?

1. Learn from certified subject matter experts: Acquire knowledge from PMP certified Subject Matter Experts with training and consulting experience. Our instructors have the credentials and experience to impart training that not only prepares you for the PMP Exam, but also shows you the big picture of the benefits of obtaining the Project Management Professional certification.
    
2. Get Quality Study Material: Course Program handbook with chapter-end quizzes and sample PMP questions with answers and explanation for each question.
    
3. Complimentary E-learning: Access anytime and anywhere through our Free PMP E-learning. You can start your PMP Exam Prep in earnest even before you start your actual PMP classroom or live online training. Our e-learning course is valid for six months from the date of registration. This will help you to prepare for the PMP exam online using our Learning Management System.
    
4. Take Sample PMP Prep Tests: We provide Mock Tests and sample questions with answers and explanation for each question. The more you practice, the better are your chances of clearing the PMP Exam and coming out with flying colors in your first attempt.
    
5. Earn 35 Contact Hours from our PMP training, which is a pre-requisite for applying for the PMP Examination.
    
6. Guidance for PMP Exam Application Process: We help with PMP Exam Application Form to enable you to navigate the Exam Application Process.
    
7. Choice of Classroom or Live Online Training. We also provide instructor-led On-Site training for enterprises interested in project management training in their office premises. Programs can also be customized as per your requirements to achieve your company’s learning and development goals and enterprise workforce development objectives.
    
8. Convenient Batches: We conduct weekday batches and special weekend batches for working professionals. Live Online Training courses can be customized as per your time zone.
    
9. Flexible choices for learning: Choose from,

• 4-day PMP Bootcamp
• 4-day PMP Bootcamp with PMI Membership
• 4-Day PMP Bootcamp with PMI Membership and PMP Exam fees included.
   

       10. Avail Special Offers: We have special offers for veterans and for learners interested in enrolling for multiple courses.

Stay tuned for our Black Friday Offers coming soon.

For more information about PMP Certification Training courses worldwide, please visit us at https://www.icertglobal.com or call now on +1-713-287-1213 / 1214 or e-mail us at info {at} icertglobal {dot} com.

For more information about our PMP (Project Management Professional) exam prep certification training courses, visit us at https://www.icertglobal.com/

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

You may also be interested in Sample PMP Exam Prep Questions before you download the Free PMP Practice Test.

Download PMP Brochure to know more about PMP requirements.

The PMP Exam is changing from July 01, 2020. Know More...

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Top 10 Reasons to be PMP Certified

An Introduction to the PRINCE2® Project Management Methodology

What is PRINCE2?

PRINCE2 is an acronym for PRojects IN Controlled Environments and the "2" refers to its relaunch in October 1996. It is the non-proprietary process-based project management methodology. PRINCE2 is mainly focused to establish,

• Control at the commencement.
• Progression of the project.
• Termination of projects.

Why PRINCE2?

PRINCE2 is one of the most globally accepted project management method. It can be applied to any kind of project irrespective of scale, type, geography, organization or culture.

PRINCE2 focuses on the delivery of products rather than carrying out activities. Every project must have a business case and plan that is periodically reviewed.

The PRINCE2 method is in the public domain therefore, users are not tied to any single organization for consultancy, training and support.

PRINCE2 is widely regarded as a common standard which enables projects in the public or private sector to be executed with a common understanding of the processes and terminology used.

The advantages of PRINCE2 are:

• It is a known proprietary method
• It’s not provided by or associated with the company
• It was actually created by the UK government and is administered by a couple of other companies now

You can also apply to any type of project. It's a generic method.

Key Features of PRINCE2:

• Focus on business justification.
• Defined organization structure for the project management team
• Product-based planning approach.
• Emphasis on dividing the project into manageable and controllable stages.
• The flexibility that can be applied at a level appropriate to the project.

The structure of PRINCE2 includes:

7 Principles of PRINCE2

• Continued business justification.
• Learn from experience.
• Defined roles and responsibilities.
• Manage by stages.
• Manage by exception.
• Focus on products.
• Tailor to suit the environment

7 Themes of PRINCE2

• Business case.
• Organization.
• Quality.
• Plans.
• Risk.
• Change.
• Progress.

7 Processes of PRINCE2

• Starting up a project.
• Directing a project.
• Initiating a project.
• Controlling a stage.
• Managing product delivery.
• Managing a stage boundary.
• Closing a project.

PRINCE2 is a certification programme owned by AXELOS and this method is sustained by a scheme that offers four levels of certification: PRINCE2 Foundation, PRINCE2 Practitioner, PRINCE2 Agile Foundation and PRINCE2 Agile Practitioner.

PRINCE2 Roadmap:

There are four levels of certification in PRINCE2:

PRINCE2 Foundation Certification

PRINCE2 Foundation certificate validates your fundamental knowledge on principles of PRINCE2 and terminologies used in PRINCE2.

PRINCE2 Foundation certificate can be prerequisite to PRINCE2 Practitioner course.

PRINCE2 Practitioner Certification

PRINCE2 Practitioner certificate validates your knowledge on relationships between principles, themes and processes of PRINCE2.

Once you get PRINCE2 Practitioner certified you will be able to apply PRINCE2 techniques to solve the problems associated with the running project.

PRINCE2 Agile Foundation Certification

PRINCE2 Agile foundation teaches you the fundamentals and the purpose of combining PRINCE2 with agile methodology. 

It introduces PRINCE2 governance and teaches a broad range of agile concepts and techniques. PRINCE2 Agile Foundation can be prerequisite to PRINCE2 Agile Practitioner course.

PRINCE2 Agile Practitioner Certification

PRINCE2 Agile Practitioner validates your knowledge on how to blend PRINCE2’s structure, governance and control with agile methods, techniques and approaches.

Benefits of PRINCE2 :

• PRINCE2 is a globally recognized certification which validates your knowledge on techniques of project management.
• PRINCE2 provides step by step guidance to manage the project and delivers confidence for internal and external stakeholders.
• It broadly focuses on techniques related to project management.
• Enables you to execute any kind of project with great ease.
• Highlights on both project and process.
• PRINCE2 helps you to strategize your plans more skillfully.
• It enables you to solve the problems associated with the project more effectively.
• Enhance your project management skills.
• PRINCE2 enables you to control resources and risks effectively.
• It ensures focus on the continuing sustainability of the project.

Demand for PRINCE2 Certified Professionals

PRINCE2 certification proves to be an asset as it accelerates your career in the field of project management.

A 2016 AXELOS survey questioned individuals in project management and other roles, such as IT, senior management and operations. They reported that "regardless of function, candidates do find that PRINCE2 is valuable to their career".

According to Payscale.com,

The average annual salaries for certified PRINCE2 professionals in the United States is shown below.
Currency: USD, Updated: Mon Nov 11 2019

Don't miss our Black Friday Deals - Nov 28 to Dec 02, 2019. Get up to 73% off on Project Management Certification Training Courses.

For more information on how you can accelerate your career with PRINCE2 Certification Training Course, visit us at https://www.icertglobal.com/ or call now on +1-713-287-1213 / 1214 or e-mail us at info {at} icertglobal {dot} com. 

 

 

Top 5 Project Management Certifications To Get In 2020

 

#1 Project Management Professional -PMP® 

 

#2 Certified Associate Project Manager - CAPM®

 

#3 PRINCE2®  (PRojects IN Controlled Environments) -  Foundation

 

#4 PRINCE2® (PRojects IN Controlled Environments) - Practitioner

 

#5 PRINCE2® (PRojects IN Controlled Environments) - Agile

 

Modern business evolutions have led to rapid changes in the approaches and execution of projects. Therefore, trends and timeliness prove to be critical factors for the success of project management and this includes project management techniques as well.

The conventional methodology is making way for agile to play a big role in how projects are led and managed. There is no taking away traditional project management methodology but tweaking with agile makes it a popular and powerful move.

2019 witnessed the surge in agile methodologies but practices like PMP and PRINCE2 continued to hold ground. According to the Project Management Institute (PMI), it is estimated that there will be a demand for 87.7 million project managers by 2027, There will be an acute crunch for project managers given the talent gap, which is grim. The opportunities ahead are plenty with the survey report stating nearly 2.2 million roles will have to be filled each year. Where are the resources to bridge the gap? One of the reasons cited for the talent gap is the retirement of project managers opening up the “requirement for skilled project managers”. You can be one among the many to close the gap.

Let's look at the top 5 project management certifications for 2020 that will help you to become the “project professional” that hiring managers are scouting as top talent.

 

1. Project Management Professional (PMP)®

Project Management Professional (PMP) is one of the most recognized and sought-after certifications with a global following and universal demand. Considered to be the benchmark in project management, PMP (Project Management Professional) is a ‘must’ for Project Managers to prove their professional worth to present employer and prospective clients.

Target Audience for PMP

• Project Manager
• Project Coordinators,
• Supervisor for PMO
• Team Manager
• Team Leader

Salary

• The PMI’s Earning Power Salary Survey- 10 edition stated PMP-certified professionals earn 23% more than those without a PMP certification.
• PMP certification from an organization perspective team managers to beneficial. The PMP-certified managers are competent to complete projects on time, and budget thus meeting organizational goals.
• PMP equips and empowers professionals to lead and manage complex and high performing projects.
• PMP is one of the highest paying certifications with a payscale up to $113,766/year.

 

2. CAPM®

Certified Associate Project Manager (CAPM) certification offered by the Project Management Institute (PMI) is a great career move for those professionals who lack the required experience and prerequisite but aspire to become PMP certified.

CAPM certification prepares the practitioners who are starting a career or less experienced project managers, to lead and manage complex projects and demonstrate a commitment to the profession.

PMI’s PMBOK (Product Management Body of Knowledge) Guide is the main reference material for CAPM certification preparation. CAPM certified professional can apply the knowledge and skills gained on-the-job to enhance project management proficiency and competency.       

The target audience for CAPM

• New project managers
• Team members
• Project associates and executives
• Professional aspiring to start a career in project management.

Salary                                                                            

According to ZipRecruiter,

The average annual salary of CAPM Certified professionals is $91,250/year

 

3. PRINCE2® Foundation

PRINCE2 stands for PRojects IN Controlled Environments (PRINCE2). Developed by Axelos, it is a process-based approach for project management that is widely used in the United Kingdom and European countries and gaining popularity across the globe. PRINCE2 benefits organizations through controllable use of resources, and manage risks effectively.  PRINCE2 has its project management methodology. PRINCE2 is one of the best qualifications to build a career in Project Management.

• PRINCE2 Foundation is the basic level of certification.
• The PRINCE2 method is introduced in the PRINCE2 Foundation Level. The PRINCE2 Foundation certification establishes your credentials in the knowledge and understanding of the PRINCE2 method.
• The PRINCE2 Foundation qualification will impart knowledge about the PRINCE2 principles, themes, and processes, and terminology and when qualified you will be able to act as an informed member of a project management team using the PRINCE2 methodology within a project environment supporting PRINCE2.
• The PRINCE2 Foundation certification endorses your credibility to engage as an informed team member to work on projects in an environment supporting PRINCE2.
• PRINCE2 Foundation is the prerequisite for PRINCE2 Practitioner examination.

Eligibility

Basic understanding about Project Management is preferred but as such, there is no formal prerequisite for the PRINCE2 Foundation qualification. 

Target Audience

PRINCE2 Foundation certification is recommended for current and aspiring project managers. It is applicable for:

• Team Managers
• Project Board members
• Project Support
• Operation Managers
• Professionals who manage projects.

PRINCE2® Foundation Exam

• The exam will be conducted in a multiple-choice questions format
• There will be 60 questions per paper
• The pass mark is 55%. You need to score 33 marks required (out of 60 available)
• The exam will be for one hour's (60 minutes)
• It will be a Closed book session.

 

4. PRINCE2® Practitioner:

• The Practitioner certification validates your knowledge and understanding of PRINCE2  concepts and principles. The Practitioner certification assesses your capability in applying and tailoring the PRINCE2 project management method in different project environments and scenarios.
• The PRINCE2 Practitioner qualification will enable you to apply PRINCE2 to the leading and managing projects within an environment supporting PRINCE2.
• According to “PayScale”, the highest average annual salary for a PRINCE2 Practitioner professional can go up to ~USD 100,000

Eligibility

To take the PRINCE2 Practitioner examination you must provide proof of having passed one of the following:

• PRINCE2 Foundation (or higher)
• Project Management Professional (PMP)*
• Certified Associate in Project Management (CAPM)*
• IPMA Level A® (Certified Projects Director)
• IPMA Level B® (Certified Senior Project Manager)
• IPMA Level C® (Certified Project Manager)
• IPMA Level D® (Certified Project Management Associate).

Target Audience

This certification is best suitable for project managers, professionals involved with managing projects and aspiring project managers. It is also applicable for:

• Team Managers
• Project Board members
• Project Support
• Operation Managers

PRINCE2® Practitioner exam

The PRINCE2 Practitioner exam is as follows:

• The exam duration will be for  Two-and-a-half hours – 2.5 hours (150 minutes)
• It is an objective-based exam
• It will be a 68 multiple-choice questionnaire
• The Pass mark is 55%. 38 correct answers or more out of  68 are required.
• It will be an open book exam. The official copy of Managing Successful Projects with PRINCE2® 2017 Edition will be allowed.

Salary

According to payscale,  the salary of a PRINCE2® Practitioner ranges from $97,000 per year.

 

5. PRINCE2® Agile

PRINCE2 agile is a unification of PRINCE2 and agile.

PRINCE2  focuses on the governance aspect of project management but the delivery aspect is not covered in-depth. PRINCE2 Agile certification will help you understand and expedite the delivery of  PRINCE2 projects using agile methods.

PRINCE2 Agile is about using the recognized framework of PRINCE2 and rendering it scalable and more flexible. Being agile, the projects can shift in speed or change direction during development, still retaining the best practices and manage to maximize the returns on investment (ROI).

PRINCE2 Agile certification will teach the core concepts about different agile delivery techniques like Scrum, Kanban, Lean Start-up and PRINCE2.

The PRINCE2 Agile qualification will empower you to demonstrate your ability in applying and tailoring key agile concepts to PRINCE2 projects.

According to the AXELOS PPM Benchmark report, 2019, 84% PRINCE2 agile certified professionals 84% increased their job efficiency, while 79% credited the certification to have made them more satisfied in the workplace and over half say it’s directly increased their salary.

Target Audience

PRINCE2 Agile is best suited for,

• Professionals responsible for delivering in an agile environment
• Project Managers
• Project Support staff

5.1 PRINCE2® Agile Foundation Certification

Prerequisites

There are no prerequisites for taking the PRINCE2 Agile Foundation certification.

Exam Format

• The exam will be Objective testing format
• It will be a multiple-choice paper
• The duration will be an hour
• The pass mark is 55%
• It will be a Closed book exam.

5.2 PRINCE2® Agile Practitioner Certification

Target Audience

• Project Manager
• Program staff
• Project Support staff
• Professionals who work within a project environment.
• Professionals integrating project management with product delivery.
• Professionals are responsible for projects using agile delivery approaches.

Eligibility

You can take the PRINCE2 Agile Practitioner certificate if you hold any of the following certifications:

• PRINCE2® Foundation (or higher)
• PRINCE2 Agile® Foundation
• Project Management Professional® (PMP)*
• Certified Associate in Project Management® (CAPM)*
• IPMA Levels A, B, C and D® (Certified Projects Director).

*'PMP' and 'CAPM' are registered marks of Project Management Institute, Inc. (PMI).

Examination Format

• It will be an Objective testing format
• There will be 50 questions each worth one mark
• You need to score 30 marks or more required to pass out of 50 questions
• The pass mark is 60% pass
• The duration of the exam will be Two-and-a-half hours’ (150 minutes)
• It will be an Open book exam. Only the official printed hard copy of the PRINCE2 Agile® Guidance is allowed.

Salary

The salary of agile project managers is around $90,000/year  in the United States.

 

For more information about professional certification, please visit us at https://www.icertglobal.com or call now on +1-713-287-1213 / 1214 or e-mail us at info {at} icertglobal {dot} com.

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

For more information about our PMP (Project Management Professional) exam prep certification training courses, visit us at https://www.icertglobal.com/

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

Download our Free PMP Brochure for more information.

 

 

 

How To Get 35 Contact Hours Of Project Management Education In PMP?

What is PMP?

Project Management Professional (PMP®) certification is a benchmark for project management. The PMP certification validates the experience, knowledge, expertise, capability, competency and required skills to lead and manage projects.

 

Eligibility Criteria

As stated in the Project Management Institute’s PMP Handbook, you must attain 35 hours of formal education to fulfill the eligibility criteria.

 

What is 35 contact hours of project management education?

35 contact hours of project management education is a formal education that addresses the learning objective of project management in terms of hours. It can be attained by any mode of training such as classroom training, online training or e-learning.

You need to document your 35 hours of ‘contact hours’  prior to filling the PMP application.

35 hours of project management education is mandatory for both a four-year degree holder and a high school graduate.

Project management education of 35 hours never expires.

 

What counts as contact hours for PMP?

Contact hours are a formal education on project management strictly measured in hours.

As mentioned in the PMP Handbook,

One hour of classroom instruction equals one contact hour. If you have completed a university or college course on project management such as MBA that met for three hours per week for 15 weeks, you would record 45 contact hours. If only a portion of a course dealt with project management, only the hours spent on project management can be applied toward the total.

The PMP Candidates must classify the course content in following project management knowledge areas:

• Project Quality
• Project Scope
• Project Schedule
• Project Budget
• Project Communications
• Project Risk
• Project Procurement
• Project Integration Management.

 

What doesn't count as contact hours?

• PMI Chapter meeting with no learning activity.
• Self-study
• Management degree or post-graduation in management which cannot be mapped in project management knowledge areas mentioned above.

 

Why are 35 hours of project management education required?

35 hours of project management education is required to fulfill the eligibility criteria to take up a prestigious certification exam of project management accredited by the globally recognized Project Management Institute(PMI®).

35 hours of project management education helps you to understand the fundamentals of  A Guide to the Project Management Body of Knowledge (PMBOK® Guide) on which the PMP exam is based.

 

How to get 35 contact hours of Project Management Education for PMP?

You can attain 35 contact hours of project management by taking up professional courses, workshops and training sessions offered by,

• PMI registered education providers (R.E.P.s)

The PMP training courses offered by R.E.P.s in any mode of training can be qualified as project management education.

• Employer/ company-sponsored programs

The programs offered by the company to enhance the management skills of the employees aligned with PMBOK knowledge areas can qualify the project management education.

• Training companies or consultants

The education institutes providing training in project management which can be mapped to knowledge areas and project management processes according to PMBOK-6th edition can qualify project management education.

• Distance-learning companies, including an end-of-course assessment

Instructor-LED online training or self-paced e-learning which covers the knowledge areas of project management and which can be documented or mapped in terms of project management knowledge areas can be qualified as project management education.

• University/college academic and continuing education programs

Project management education which falls under the project management knowledge area and can be documented can be qualified. Note that the contact hours are strictly based on the project management education which can satisfy the project management knowledge areas and not the overall degree program.

• PMI Chapters

PMI or PMI component organizations conduct regular chapter meetings. The learning activity hours which can be documented are qualified as project management education.

 

What if you don’t have a document related to project management education?

You need documents related to project management education to qualify the audit process.

If you fail the audit process, there is a one-year suspension period to apply for that certification again.

 

Recommended post:

• What is PMP?
• Key Features of PMP® Certification Training
• Top 10 Reasons to Get PMP® Certified
• How To Qualify PM Experience In PMP Application Form
• The Step By Step Procedure To Fill The Application Form

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

For more information about PMP® Certification Training courses worldwide, please visit us at https://www.icertglobal.com

 or
Call Now! on +1-713-287-1213 / 1214 / 1053 / 1355 or e-mail us at info {at} icertglobal {dot} com.

 

 

How should I Re-apply for PMP examination?

 

Project Management Certification (PMP®) is the most sought and lucrative certification from the Project Management Institute (PMI®) and considered as one of the difficult exams in the field of project management. This is the reason for PMP being valuable credential.

The PMP exam is based on  A Guide to the Project Management Body of Knowledge (PMBOK® Guide)- 6th Edition. It includes all the processes, knowledge areas and terminology. PMBOK is one of the study reference guides to clear PMP exam but working experience in the field of project management will surely help you to clear the exam in the first attempt.

 

How difficult it is to clear the PMP exam?

Yes, it is very difficult to clear the exam in the first attempt. A Lot of effort and time is required to get PMP credentials. The preparation time should be well planned in order to cover all the topics of the PMBOK guide. It requires at least 2 to 3 months of preparation depending on aspirant’s capability and efforts invested. Knowing the difficulty level, we can say that it is not easy to clear the PMP exam in the first attempt. Second chances are expected to be quite fruitful if you consider the following factors while preparing:

The factors you need to consider for re-examination:

 

The content outline – PMBOK is one of the reference books. You should not depend only on the PMBOK guide to clear the exam. You need to get proper guidance, study material and exam simulator to know the strength and weaknesses in each domain area and prepare accordingly.

Discipline and dedicated study plan - Proper preparation is required to attempt any examination. Develop a work plan by working on your weaker domains. Attend webinars and workshops for better preparation.

 

 

3. Think according to PMP-  Sometimes we tend to answer the question according to our work experience. To clear the PMP examination, be conversant to PMBOK guide.

 

What is the pass rate for the PMP exam?

It is difficult to predict the pass rate for the PMP exam as the Project management Institute does not disclose the overall passing percentage. PMI says there are one million active PMP certified since 1983. 

According to the survey conducted for Project Management Trainers And Experts In Linkedin,

“40% of project management experts responded that the passing rate for the PMP exam is less than 50%”.

 

How many attempts are allowed by PMI to clear PMP exam?

As mentioned in PMI’s PMP handbook, PMI allows 3 attempts in one-year exam eligibility. Once the PMI approves your application, your one-year exam eligibility period begins.

Schedule your exam according to preparation and time gap left in the exam eligibility period.

 

What to do if you couldn't clear the PMP exam in the first attempt?

If you couldn't clear the PMP exam in the first attempt, you can schedule your exam for further attempts by following the simple steps:

1. Log in to pmi.org
2. Pay the re-examination fee
3. You will receive an email with new eligibility ID
4. Use that eligibility ID to schedule your exam

 

What is the cost of PMP re-examination?

You can take up re-examination for the remaining attempts by paying the following fee:

 

What if you couldn't clear PMP exam in all the three attempts?

If you couldn’t clear PMP exam in all the three attempts, you must wait for one year to re-apply for PMP examination. The waiting period starts from the day you took your last examination. There are many other certifications offered by PMI. Candidate can apply for other certification in the same exam eligibility period by paying the initial certification fees. The certifications candidate can apply are:

• CAPM -
• PMI-RMP
• PMI-PBA
• PMI-ACP
• PfMP
• PgMP
• PMI-SP

 

How to re-apply for PMP examination after completing the waiting period?

If you want to re-apply for PMP certification, you have to start again from the beginning. Fill the new application form with the required project management experience and project management education. Pay the fee according to your membership with PMI.

PMI will confirm the approval of the application and provide one-year exam eligibility period with 3 attempts.

 

How to re-schedule the PMP exam?

You can re-schedule your PMP exam two days before the scheduled date by paying the cancellation fee applied according to 30 days policy and 2 days policy.

If you reschedule or cancel your exam before 30 days of the exam appointment you will be charged $70

If you fail to reschedule or cancel your exam appointment before 2 calendar days you will forfeit the exam entire fee.

The following example gives you a clear picture of 30 days and 2 days policy:

 

 

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training
Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

For more information about PMP® Certification Training courses worldwide, please visit us at https://www.icertglobal.com

 or
Call Now! on +1-713-287-1213 / 1214 / 1053 / 1355 or e-mail us at info {at} icertglobal {dot} com.

 

 

 

 

 

 

What Is The Average Salary Of A PMP (Project Management Professional) Certified Project Manager Worldwide?

 

Companies are setting major hiring goals and for a project manager, the most decorated and distinguished PMP certification is a key differentiator. PMP certified professionals set themselves apart with their experience, expertise and exclusive skill-set in leading and managing complex projects. Project Management roles call for in-demand project management skills to demonstrate your capabilities and competencies – and that’s where PMP will prove to be the clincher.

The increasing demand for skilled project management professionals and the excellent salary levels make PMP highly desirable for both project managers and potential job seekers. 

 

(source: www.pmi.org)

 

The demand for PMP professionals cannot be met by the existing supply as there are just 1 million PMP holders against the need for 2.2 million per year as per the PMI-commissioned talent gap analysis.

 

Some statistics about Project Management opportunities:  

• By 2020, there will be more than 15.7 million roles created for project managers.
• The project management profession is further estimated to grow by $6.61 trillion.
• PMP certification directly translates to a rise in salaries. PMPs draw 23% more than non-certified peers.
• What is the mean household income in the United States? The mean household income in the United States, according to the US Census Bureau 2014 Annual Social and Economic Supplement, was $72,641
   What Is The Average Salary Of A PMP Certified Professional In The United States? According to, PMI’s Project Management Salary Survey 10th edition, it is $110,000. Look at the difference a certification can add value monetarily.
• The growth in project management roles is forecast by 13.4 million through 2020. The expanding job markets, the project management roles   will increase in 10 countries (Australia, Brazil, Canada, China, Germany, India, Japan, Saudi Arabia, United Arab Emirates and the United Kingdom as reported in Talent Gap: Project Management through 2020)

 

Source: PMI’s INDUSTRY GROWTH FORECAST

 

The Average Salary Of A PMP Certified Project Management Worldwide

The source for the data represented in this blog is the Earning Power: Project Management Salary Survey, 10th Edition from PMI.

Salary Based On Employment

The salary structure for PMP varies from country to country. The countries where project management professionals report the highest median salaries

Surprisingly, its not the United States (US$112,000), that tops the chart for the highest median salary project management professionals. It is Switzerland (US$130,996). Egypt is the country with the lowest median salary(US$10,159).

 

Salary based on Number of Years of Experience in Project Management

 

Salary based on certification status

PMP certification has to be renewed to maintain the “active” status. One of the factors to influence the salary is the certification status. The tenure of the PMP certification has its added advantage.  South Africa tops the list for median salary at 58%for PMP certified professionals as compared to those without PMP credential.

Salary Based On Position

The position with added roles and responsibilities plays a significant role in deciding the salary. The PMP professionals draw more as salary with respect to their designation. Higher the position, the higher the pay. It can be inferred from the survey that Nigeria, offers the highest in terms of the median salary for a Project Manager III (US$30,305 ),  Project Manager 11 (US$20,735 ) and Project Manager I (US$13,079).

Salary Based On Project Size

Project Managers managing larger projects and big teams are paid more. However, the variance of salary with regard to team size changes from country to country.

 

 

Footnotes:

For a more detailed and comprehensive study of the PMP salary worldwide, you may please visit https://bit.ly/pmpsalaries

Are you interested in learning more about the top IT certifications that working professionals are aiming to target in 2020?  Read our blog on 'Top 10 High Paying Certifications to Target in 2020.’

 

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training
Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:
- PMP Certification Training
- CAPM Certification Training

Quality Management Training by iCert Global:
- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses
- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses
- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

Scrum Training by iCert Global:
- CSM (Certified ScrumMaster) Certification Training Courses

Agile Training by iCert Global:
- PMI-ACP (Agile Certified Professional) Certification Training Courses

DevOps Training by iCert Global:
- DevOps Certification Training Courses

Business Analysis Training by iCert Global:
- ECBA (Entry Certificate in Business Analysis) Certification Training Courses
- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses
- CBAP (Certified Business Analysis Professional) Certification Training Courses

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Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

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Is It Worth Getting PMP Certification?

Yes, it is definitely worth getting PMP certification. It is worth the hard work, effort, time and money.

First let us know,

What is PMP all about?

Project Management Professional (PMP®) certification is a globally recognized certification accredited by the Project Management Institute (PMI®)-  globally recognized organization in the field of project management.

PMP credential is an industry-recognized standard certification for project managers worldwide. Project managers having PMP credentials can witness their career growth as soon as they get certified. It validates their experience, knowledge, capability, and required skills to lead and manage complex projects.

Professionals who meet the following criteria can apply for prestigious PMP certification and take their career to a higher level:

• Secondary degree (high school diploma, associate’s degree or the global equivalent)
• 5 years or 7,500 hours leading and directing projects
• 35 hours of project management education OR CAPM certification

OR

• Four-year degree
• 3 years or 4,500 hours leading and directing projects
• 35 hours of project management education OR CAPM certification

PMP certification is aligned to the reference guide PMBOK- 6th edition released by PMI. It is the fundamental resource for the PMP credential aspirants. PMBOK-6th edition is developed by subject matter experts and reviewed by PMI’s Project management community.  PMBOK guide is available in English and 11 other languages (Arabic, Chinese [simplified], French, German, Hindi, Italian, Japanese, Korean, Portuguese Brazilian, Russian and Spanish).

PMP examination is based on five domains mentioned in PMBOK-6 edition

 

 

Let us know why getting PMP certification is worthy.

Adds value to your career

PMP credential definitely adds value to your career as it validates your competency and knowledge in the field of project management. It provides an opportunity to handle complex projects in the organization. PMP certification helps you to gain trust from the employers

The credentials from PMI prove that your knowledge is up to date as PMI course content is based on the current industry situation. It includes:

• Trends and emerging practices
• Tailoring considerations
• A greater emphasis on Strategic and Business Knowledge
• A new section on the role of the project manager

You can apply your project management skills according to the newest project management trends.

According to the statistics report by WRIKE,

“80 percent of high-performing projects are led by a certified project manager”.

 

Job opportunities worldwide

There are ocean-like opportunities in the field of project management for PMP certified professional.

According to PMI’s Talent Gap: Project management through 2020,

Project-intensive industries: The industries with a high level of project-oriented work. These industries are:

• Information services
• Manufacturing
• Business services
• Finance and insurance
• Oil and Gas
• Construction
• Utilities

The project management profession is expected to grow by US$6.61 trillion. 

In the countries like Australia, Brazil, Canada, China, Germany, India, Japan, Saudi Arabia, United Arab Emirates and the United Kingdom, project management roles are expected to grow by 13.4 million through 2020.

 

Build network globally

Credentials from PMI is not just certification. It also gives opportunities to meet active practitioners and subject matter experts under one roof.

The PMI serves more than 2.9 million professionals including over 500,000 members in 208 countries and territories around the world, with 300 chapters and 10,000 volunteers serving local members in over 80 countries.

Though it is not mandatory to take PMI membership for PMP certification but it is recommended to take PMI membership for a discount on exam fee, opportunity to join local PMI chapter, free access to PMBOK guide etc.

If you are a member of PMI, PMI arranges frequent meetings, global conferences for members across the globe and speak common language of project management.

You can also access to online communities, templates, member-only webinars, virtual events etc. It will help you to build your network.

 

Higher earning potential

The earning potential increases with experience and progress of knowledge. According to Earning Power: Project Management Salary Survey, 10th Edition, certified PMP professionals earn 23% higher salary on average across 37 countries surveyed.

The countries with higher increase in the median salary of certified professionals are:

Country	Earning advantage
South Africa	58%
Ecuador	53%
Colombia	48%
Chile	43%
Mexico	43%

 

In the United States the median salary of Certified PMP professionals among survey respondents was 25% higher than the median salary of those without the PMP certification ($115,000 versus $92,000).

 

Continuous learning

Even after you get PMP certified once you get PMP certified you need to maintain your certification by earning Professional Development Units (PDUs) as a part of the Continuing Certification Requirement (CCR) Program.

1 PDU= 1 hour of learning activity

This allows you to gain knowledge on a continuous basis. You can earn PDU’s by attending webinars, joining the discussion thread, volunteering for local PMI chapter or by completing relevant educational courses by training organizations.

The Global Project Management community helps you to stay updated with recent methodologies and techniques.

 

Validates dedication towards a career

Getting PMP certification is not an easy task. Once you get PMP certified you will experience confidence to handle any kind of projects and increases the project success rate. It requires a lot of effort and commitment towards the goal.

 The employee with continuous learning and dedicated to professional growth is an asset to the company.

The employers know the importance of trainings on project management.

According to PMI’s Pulse Of The Profession,

Three in five organizations provide training on project management tools and techniques.

 

Conclusion

By knowing all the perks of getting PMP certified we can conclude that “yes” it is indeed worth all the efforts, money and time.

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training
Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions. 
Full-length PMP sample test with 200 PMP exam prep questions. 

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

For more information about PMP® Certification Training courses worldwide, please visit us at https://www.icertglobal.com

 or
Call Now! on +1-713-287-1213 / 1214 / 1053 / 1355 or e-mail us at info {at} icertglobal {dot} com.

 

 

 

:

What are the 10 Knowledge Areas of Project Management?

The 10 Knowledge Areas of Project Management are:

#1 Project Integration Management

#2 Project Scope Management

#3 Project Schedule Management

#4 Project Cost Management

#5 Project Quality Management

#6 Project Resource Management

#7 Project Communications Management

#8 Project Risk Management

#9 Project Procurement Management

#10 Project Stakeholders Management

 

Project management is an application of skills, tools, knowledge and techniques to achieve specific project goals and meet specific success criteria within a constrained time.

Project Management is an integral factor which decides the success or failure of a project.

In mid of 20th century, project management began to emerge as a distinct profession and large no. of organizations started to follow a set of rules, standard terminologies and guidelines in the field of project management.

Project management rules are mainly governed by PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide).

According to PMBOK, project management includes,

 

 

 

5 Phases of Project Management Life Cycle include:

• Initiating
• Planning
• Executing
• Monitoring and Controlling
• Closing

The 10 knowledge areas are:

 

1. Project Integration Management

2. Project Scope Management

3. Project Schedule Management

4. Project Cost Management

5. Project Quality Management

6. Project Resource Management

7. Project Communications Management

8. Project Risk Management

9. Project Procurement Management

10. Project Stakeholders Management

 

Project management includes 49 processes mapped in 5 phases and 10 knowledge areas:

 

 

1. Project Integration Management

 

The coordination between the resources, stakeholders, and other project elements which ensures to execute the project end to end successfully is Project Integration Management. It is very important because project success highly depends on integration management in terms of schedule, cost, quality, scope, risks, etc.

This knowledge area has a set of processes in each phase of project management. The processes involved in all phases of project management are:

• Develop the project charter
• Develop the project management plan
• Direct and manage project work
• Manage project knowledge
• Monitor and control project work
• Perform integrated change control
• Close the project (or project phase)

In the initiation stage, the project charter is developed. The project charter is a key element which describes the whole project in brief. The project charter generally includes the objective of the project, stakeholders, risks identified etc. After initiating the project, the project management plan is developed and executed by directing and managing project work and knowledge.

After executing the project, the project work is monitored and controlled with the integrated change required and close the project successfully.

2. Project Scope Management

Project scope management is to define what is included in the project and what is not included in the project. The scope of the project is the work that is involved and the factors to execute the project successfully. There are 6  project scope management processes in planning and controlling process group.

In the Planning process group:

• Planning scope management: Based on the project charter, the plan is created to define the scope.
• Collecting requirements: Based on the scope management plan and stakeholder’s consultancy, the requirement is collected.
• Defining scope: based on plan scope management, project charter and requirement, the scope is defined.
• Creating WBS: Creating a work breakdown structure to simplify the whole project into individual tasks.
• Validating scope: the outcome of individual tasks are reviewed and inspected.

In the monitoring and controlling process group:

• Controlling scope: after the execution of a project or task, the scope of work is monitored and controlled. The performance reports are prepared to check if the scope meets the requirements.

3. Project Schedule Management

Project schedule management involves the listing of the tasks, deliverables, duration, stakeholder assigned, start and end date of the tasks within the project.

Time management completely depends on the proper schedule management.

It involves 7 schedule management processes in the planning process group and controlling process group.

In the planning process group:

• Planning schedule management: Creating a schedule plan and determining who is responsible for the specified task.
• Defining project activities: Project activities are defined according to plan schedule management. List of activities are created similar o work breakdown structure.
• Sequencing activities: Based on project activities, a sequence of all the activities are created according to priority.
• Estimating resources and duration: Based on schedule plan and activities, human resources and durations are assigned.
• Developing the project schedule: Based on all the above processes, the project schedule is developed

In the monitoring and controlling process group:

• Controlling schedule: after the execution of a project or task, the duration is checked and controlled if it exceeds the allotted time.

4. Project Cost Management

Cost is the most critical factor in any organization. The process of estimating, allocating and controlling the cost of the whole project comes in project cost management. The budget is fixed according to the project activities. The costs are estimated during the planning phase and controlled if it exceeds during execution.

The 4 processes are involved in Project Cost Management:

• Planning cost management: Cost is planned based on the project activities, sequence of activities and duration allocated for each task.
• Estimating Costs: Based on the cost management plan, the cost is estimated for each task.
• Determining Budget: Based on estimated cost, the budget is prepared considering schedule management on a project basis.

In the monitoring and controlling process group:

• Controlling costs: During the execution phase of the project, the cost is monitored and if it exceeds or the risk identified that the cost might increase beyond the limit. it is controlled as the cost is the most critical factor in project management.

The cost flow is recorded and the overall report is prepared till the closing of the project.

5. Project Quality Management

The process of achieving assured quality with respect to scope, time and cost is project quality management. With proper quality management, an organization can achieve customer satisfaction and enhance further productivity. The process of quality management is in three phases of project management: Planning, execution, and monitoring and controlling.

In the planning phase:

• Planning Quality Management: Planning quality plays a vital role in the success of the projects. The methodology used, the resource assigned, the cost allowed and the time allocated are the major factors affecting quality. Quality planning is done considering all the factors.

In the execution phase:

• Managing quality: During the execution stage, quality assurance is given maximum importance and considered in all aspects

In monitoring and controlling phase:

• Controlling quality: quality is controlled by reassessment after execution if the customer or client is not satisfied.

6. Project Resource Management

The project resource management involves managing human resource, material, equipment, knowledge and time. Recourse plays a very important role during the execution of the project. There are 6 Project resource management processes in three phases of project management.

In the Planning phase:

• Planning resource management: Based on the project scope, planning of resources are done with cost input, quality and schedule management.
• Estimating activity resources: According to the availability of the resources and the project activities, the resource activity is estimated.

In the execution phase:

• Acquiring resources: Based on the deployment of skills to achieve specific goals, resources are acquired.
• Developing the team: The team is developed based on their knowledge, skill and ability to achieve the specified goal. Experience and hierarchy is considered while developing the team for the project.
• Managing team: The team, is managed according to plan management and the team developed. This ensures the specified goal is achieved on time.

In monitoring and controlling phase:

• Controlling resources: After the execution stage, the resources are controlled if the deliverables are not delivered on time.

7. Project Communications Management

The project communications management ensures that the right message is sent, received and understood by the right people. Communication is one of the most critical factors affecting the success of the project. According to PMI, most of the project failed due to communication. The three processes are involved in project communication management in planning, executing and monitoring phase.

• Planning communications management: The audience, objective, message and medium of communications are planned according to project activities and resources assigned.
• Managing communications: Once the communication plan is approved, the communications are managed by analysis of data received, distribution of data, storage of the reports and disposal of old messages.
• Monitoring communications: The communications are monitored by confirming the messages, confirming the messages are received by the correct stakeholders, confirming messages were understood.

Excellent communication skills is required to handle conflict management.

8. Project Risk Management

Project risk management involves identifying the risks, analyze the risk and control the risk. The risk management is done to reduce the impact of risk on project pace. The risk identified can be uncertain and have a huge impact on the resource, processes, technology, and schedule. The 7 processes of risk management lies in planning, executing and monitoring phase.

In the planning phase:

• Plan risk management: Based on a risk assessment matrix, the document is prepared including foreseen risks, estimated impacts of risk on the project
• Perform qualitative risk: Based on their probability of occurring and impact of risk, the risks are prioritized for further analysis.
• Perform quantitative risk: The effect of identified risk is numerically analyzed on all the project objectives.
• Plan risk responses: The actions are planned to reduce the risk by addressing the risk according to priority, cost, and time.

In the execution stage:

• Implement risk responses:  Based on risk responses plan, the actions are taken to mitigate the risk.

In the monitoring stage:

• Monitoring risks: Risks are monitored according to the impact of risk responses.

9. Project procurement management

The project procurement management involves obtaining goods, services and supplies. Procurement includes all the materials required to complete the project. 3 procurement management processes are involved in planning, executing and monitoring phase of project management.

In the planning phase:

• Planning Procurement Management: the process of documenting the material required, specifying the approach, identifying potential dealers, identifying good service required for the project within the allocated budget and assured quality.

In the execution phase:

• Conducting procurements: Based on plan procurement management,  procurements are done according to the requirement for deliverables of the project.

In monitoring and controlling phase:

• Controlling procurements: The procurements are checked for quality control and also checked if the procurement met all the requirement. 

10. Project stakeholder management

The project stakeholder management is the process of identifying suitable stakeholder for the project and meet the expectation of the selected stakeholder. The success or failure of the project depends on the key stakeholders.

Four project stakeholder processes are involved in initiating, planning, executing, and monitoring and controlling the phase of project management.

In the Initiating phase:

• Identifying key stakeholders: Based on performance, experience and skills, the key stakeholders are identified to manage the assigned part of the project.

In the planning phase:

• Planning stakeholder engagement: the roles and responsibilities of the key stakeholder are planned. The amount of engagement in each part of the work is assigned to stakeholders.

In the execution phase:

• Manage stakeholder engagement: the stakeholder engagement is managed and if any issue comes up, it is resolved through communication.

In the monitoring phase:

• Monitor stakeholder management: The process of monitoring stakeholder’s engagement, strategies and activities. This ensures the deliverables are accepted by the customers.

 

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

 Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

 

 

 

 

 

 

 

 

 

 

 

:

What are the 5 Phases of Project Management?

 

Project management is a practice of implementing processes and methods by applying skills, tools, knowledge and techniques to achieve specific project goals and meet specific success criteria within a constrained time according to project needs and goals.

The set of guidelines and best practices are followed to achieve the success rate of the project and ensure the project flow is smooth.

PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide) was introduced by Project Management Institute in 1996. The current edition of the PMBOK® Guide is - 6th edition.

It is the single most important publication by the PMI for Project Management Professional Certification aspirants to study and prepare for the PMP® Exam.

What is Project?

The Project Management Institute defines a “project” as

 “a temporary endeavor undertaken to create a unique product, service or result.”

Project is a set of operations or tasks with a definite start and end to reach the targeted goal. Projects can be simple or complex depending upon the time frame and the outcome expected.

Project is carried out by a set of people called “team”  with individual tasks assigned and expected to be completed within a constrained time.

Who are Project Managers?

Projects are managed by the project manager or more depending on the complexity of the project.

Role of the project manager is very important. Time-bound and cost-bound projects require a project manager to plan, track, monitor, evaluate and work out the roadmap for successful closure and handover.

Project Managers are the bridge between top management and project delivery team as they make sure the scope of the project is clear, monitors and reports regularly on the progress of the project that is in line with the defined cost, schedule, and quality.

The roles and responsibilities of the project manager are:

5 Phases of Project Management

It is very important to prepare a definite structure of the project to be executed. The process of initiation of the project to close the project with handover is called project lifecycle.

According to PMBOK- 6th edition, there are 5 phases of project management:

• Initiation
• Planning
• Execution
• Monitoring and Controlling
• Closing

The 5 phases of project management from start to finish which cover the following components:

• What work must be done
• What output must be generated and reviewed
• Who will be responsible
• How to control and approve each phase

Initiation

 

The first phase of the project life cycle is initiation. In this phase, the project’s value is measured whether the project is to be taken further or not. The project’s feasibility and value are measured using evaluation tools.

• Feasibility Study: The study evaluates the value of the project which includes the project goals, time frame and overall cost of the project to be executed.
• Business Case document:  The document which provides the detailed estimated benefit of the project and the need for the project.

The stakeholders are identified in this phase of project management. The important stakeholders of the company will decide if the project is to be taken or not. The project charter is prepared. The project charter generally includes the objective of the project, stakeholders, risks identified.

 

Planning

 

Once the project is approved, the planning is done. The project management plan is developed based on defined project scope, schedule, cost, resources, quality and respective stakeholders.

Planning will help to minimize the risk during the execution phase.

The cost and resources are planned effectively to achieve the business goals of the organization.

This phase will develop a roadmap which will be used until the end of the project.

The roles and responsibilities are defined and the following documents are created in the planning stage:

• Scope Statement
• Work Breakdown Schedule (WBS
• Milestones
• Gantt Chart
• Communication Plan
• Risk Management Plan

The goals are set based on two methods. S.M.A.R.T. and C.L.E.A.R.

 

S- Specific M- Measurable A- Attainable R- Realistic T- Timeframe

C- Collaborative L- Limited E- Emotional A- Appreciable R- Refinable

 

 

 

 

 

 

Execution

Based on project activities and project management plan, the deliverables are developed and completed within a constrained time.

The projects are divided into individual tasks and accomplished. The following tasks take place during this phase:

• Develop team
• Assign resources
• Execute project management plans
• Procurement management
• Directing and managing project execution by the project manager
• Set up tracking systems
• Task assignments are executed
• Status meetings
• Update project schedule
• Modify project plans as needed

 

Monitoring and Controlling

 

During the execution phase, the tasks are monitored if the assigned task meet the project management plan. This phase ensures the project areas such as scope, schedule, cost, quality and resource are in control. The project managers track the work using key performance indicators (KPIs). The KPIs to determine the project performance are:

• Project Objectives
• Quality Deliverables
• Effort and Cost Tracking
• Project Performance

To keep the project on track, project managers usually adjust schedules and resources.

 

Closing

 

The finished project is handed over to the customer in this phase. The whole process is documented and resources are released to work on other projects. The meetings are held to prepare the final project report. The handing over documents are prepared and project managers close the project.

 

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

:

What are the 49 Project Management Processes?

 

Project management is a practice of handling project successfully from start to end within budget and time using various strategies, methodologies and processes. Organizations follow a set of guidelines and best practices to achieve the project goal. Project Management is an integral factor which decides the success or failure of a project.

Project management rules are mainly governed by PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide).

Certified Project Management Professionals (PMP®️) use the best practice of project management as the certification validates the knowledge, skills, and techniques of project management aligned with PMBOK® Guide.

According to PMBOK, project management includes,

5 Phases or Process Groups of Project Management

#1 – Project Initiation

#2 – Project Planning

#3 – Project Execution

#4 – Project Monitoring and Control

#5 – Project Closure

10 Knowledge Areas of Project Management

#1 – Project Integration Management

#2 – Project Scope Management

#3 – Project Schedule Management

#4 – Project Cost Management

#5 – Project Quality Management

#6 – Project Resource Management

#7 – Project Communications Management

#8 – Project Risk Management

#9 – Project Procurement Management

#10 –  Project Stakeholder Management

49 processes in project management are distributed across 10 knowledge areas and 5 process groups of project management. The below table clearly demonstrates the mapping of the process groups, knowledge areas and processes.

 

49 Processes in Project Management

Integration Management Processes:

The coordination between the resources, stakeholders, and other project elements which ensures to execute the project end to end successfully is Project Integration Management. It is very important because project success highly depends on integration management in terms of schedule, cost, quality, scope, risks, etc.

#1 – Develop Project Charter process :

The develop project charter process is a document which is prepared in the initiation phase to formally authorize the existence of the project. In this process, the document is prepared and given to the authoritative project manager to use the resources required for the project.

The project charter is a key element which describes the whole project in brief. The project charter generally includes the objective of the project, stakeholders, requirements, high-level assumption and constraints etc.

#2 – Develop Project Management Plan process:

The process of combining all the project plans and sub-plans into a single integrated plan. It is one of the most crucial processes of project management. Project success is dependent on the project management plan. The authoritative head to plan project management is the project manager.

This document is approved and signed by authorized stakeholders.

#3 – Direct and Manage Project Work process

In this process, the project work activities are directed and managed while executing. This refers to the term “leading and controlling” the assigned project activities. The key outputs of this process are final deliverables and change requests for the project work.

#4 – Manage Project Knowledge process

The main objective of this process is to improve the project process using the existing knowledge and creating new knowledge. The knowledge created is used for further processes and future projects. The continuing knowledge gain and utilizing the existing knowledge is the main objective of the project.     

#5 – Monitor and Control Project Work process

Monitoring and controlling project work refers to the continuous tracking, reviewing and reporting the project progress status to achieve the required target of the project work activities.

The performances of each assigned resource are monitored and controlled. The document is prepared regarding the issue and the improvement possible.

#6 – Perform Integrated Change Control process

The perform integrated change control process includes reviewing all the change requests and managing them effectively from all the working department. The document is prepared for approval of any change requests.

The change requests are approved when there is not much impact on scope, time and cost of the project. The change requests can be project deliverables, project plan or project assets.

#7 – Close Project or Phase process

This process refers to closing the project activities by finalizing all the deliverables of project activities and the documents related to closing the project or phase is prepared by the project manager. In this process, the resources are released to work for other projects.

Scope Management Processes:

Project scope management is to define what is included in the project and what is not included in the project. The scope of the project is the work that is involved and the factors to execute the project successfully. There are 6  project scope management processes in planning and controlling process group.

#8 – Plan Scope Management process

It is the process of creating the document in which information about how the scope is defined and managed throughout the project process. The scope management plan provides the direction of how to deal with the end to end requirements of the project. The scope management plan acts as a guide to the project flow.

#9 – Collect Requirements process

The process of collecting all the requirements from all the resources or stakeholders to meet the project objective is called Collect Requirement Process. The documentation of all the requirement helps in tracing the matrix of the organizational assets required for the project. The collected requirement is to be managed and fulfilled to meet the objective of the project.

#10 – Define Scope process

The complete description of the scope of the project is documented in this process. The main objective of the project is to document what is included in the project and what is not included in the project.

The clear description of the project is available from this process.

#11 – Create WBS process

Creating WBS refers to the Work Breakdown Structure in which all the project activities are divided into smaller activities. This helps in assigning tasks or activities to the resources. This framework also helps in understanding the project objectives and the defined scope. The inputs, tools and techniques,  and the outputs are clearly defined in this process.

#12 – Validate Scope process

In this process, the final deliverables are validated and accepted by the project manager. It is a formal acceptance of the completed project whether it met the scope or not is validated in this process. Before submitting the final deliverables to the customer, if the project manager validates the scope, then the chances of the customer accepting the projects are also high.

#13 – Control Scope process

The control scope process ensures whether all the project activities are according to the planned scope. This process monitors the status of the project and manages the changes according to the scope baseline. It ensures there is no slippery in the project scope during project activities.

Schedule Management Processes:

Project schedule management involves the listing of the tasks, deliverables, duration, stakeholder assigned, start and end date of the tasks within the project. Time management completely depends on the proper schedule management.

#14 – Plan Schedule Management process

Schedule Management Plan ensures the project activities are completed on time. The document is created with project activities based on WBS and time is allocated to complete the project work activity. It is the process of determining the procedures, policies, planning, executing, managing, and controlling the scheduled activity.

#15 – Define Activities process

The list of all the project activities to be conducted during the project execution is documented in this process. The exact actions to be taken to achieve the project objective is the main output of this process. In this process, the input, tools and techniques and output is clearly defined.

#16 – Sequence Activities process

The process of identifying the priorities of the project activities and documenting the same. The sequence of all the project activities are documented in this process. It is one of the most important processes of project management to keep the project flow smooth.

#17 – Estimate Activity Durations process

Estimating the activity durations refers to document the time allotted to each project activity. This process helps to set the whole project timeline according to the sequence of project activities.

#18 – Develop Schedule process

The process of combining all the components of schedule management to project timeline is scheduling process. The document is created by analyzing the sequence of project activities and the estimated duration.

#19 – Control Schedule process

The process of monitoring and managing the time taken to complete the project activity during execution. The document is created to update the status of the project. The main objective of this process is to ensure that the project activities are executed within the allotted time to maintain the project management plan.

Cost Management Processes:

Cost is the most critical factor in any organization. The process of estimating, allocating and controlling the cost of the whole project comes in project cost management. The budget is fixed according to the project activities. The costs are estimated during the planning phase and controlled if it exceeds during execution.

#20 – Plan Cost Management process

The process of cost management plan includes the policies, procedures and guidelines to plan, manage, and control the project costs. It also includes documenting the costs throughout the project. The cost management plan is done according to the project activities, schedule, resource and requirements.

#21 – Estimate Costs process

This process includes estimating all the monetary resources included in the project activities to achieve the target on scheduled time. The costs are estimated based on the resource requirements. The main objective of this process is to determine the overall cost required to complete the process.

#22 – Determine Budget process

The process of combining the cost of all the project activities to establish the formal cost baseline of the overall project. This process helps in projects cost flow, risk management. Cost baseline helps in monitoring and controlling the cost of individual activities.

#23 - Control Costs process

The process of monitoring and controlling the cost of individual project activities during execution is called a control cost process. The costs are controlled and brought to the cost baseline if exceeds.  The document of cost update is maintained throughout the project.

Quality Management Processes:

The process of achieving assured quality with respect to scope, time and cost is project quality management. With proper quality management, an organization can achieve customer satisfaction and enhance further productivity. The process of quality management is in three phases of project management: Planning, execution, and monitoring and controlling.

#24 – Plan Quality Management process

Plan Quality Management process is the process of identifying the quality requirements and quality standards relevant to the project output. The document of a set of quality standards is prepared for each project activities. The methodology used, the resource assigned, the cost and the time allocated are the major factors affecting quality.

#25 – Manage Quality process

Manage Quality process is the process of managing all the project activities according to the quality management plan while executing. The main objective of managing quality process is to integrate all the quality policies in the project activities to maintain the quality plan management.

#26 – Control Quality process

Control Quality process is the process of monitoring and controlling the executed project activities according to quality management. The main objective of this process is to ensure the project output is correct, complete and meet the expectations of the customer and the quality plan. This process also includes the documentation of results obtained during the control quality process.

Resource Management Processes:

The project resource management involves managing human resource, material, equipment, knowledge and time. Recourse plays a very important role during the execution of the project. There are 6 Project resource management processes in three phases of project management.

#27 – Plan Resource Management process

 Plan Resource Management process is a process of identifying the required resources, equipment for the required for the project activities. Planning resources include preparing the user guide document to identify, acquire, manage and monitor the required resources for project activities. 

#28 – Estimate Activity Resources process

The process of estimating the type and amount of resources required for each project activities. The main objective of estimating resources is to plan the resource requirement for the overall project.

 #29 – Acquire Resources process

The process of acquiring the resources like team members, types of equipment and other resources required for the project delivery. The main objective of this process is to ensure there is no shortfall of resources required for the project.

#30 – Develop Team process

The process in which the stakeholder or project manager improve the knowledge, skills and techniques of the team members as per the requirement of the project quality. This improves the competencies and enables the interaction between the team members enhancing the quality of the project.

#31 – Manage Team process

The process of tracking and recording the performances of the team and managing by giving feedback, resolving issues, managing conflicts and optimize the project performance according to the project requirement. The main objective of this process is to improve the overall performance of the team and enhance productivity.

#32 – Control Resources process

The Control Resources process aims to fulfil all the resource requirement for the project activities. It ensures all the resources allocated are according to plan. The probability of change requests is high in resource management. Therefore, controlling the resources and monitoring according to the resource plan management is highly essential.

Communications Management Processes:

The project communications management ensures that the right message is sent, received and understood by the right people. Communication is one of the most critical factors affecting the success of the project. According to PMI, most of the project failed due to communication. The three processes are involved in project communication management in planning, executing and monitoring phase.

#33 – Plan Communications Management process

The process of conducting proper communication according to the stakeholder’s need and requirement. The process includes a proper approach and plan of communication with organizational assets. The communication can be through any formal and recorded medium.

#34 – Manage Communications process

Managing communication process ensures that the message is created, collected, recorded and distributed by authorized stakeholders and understood by the receiving end according to the communications management plan.

#35 – Monitor Communications process

Monitoring communications process is a process of monitoring and controlling the communications throughout the project life cycle ensuring that the communication meets the stakeholder’s information requirement.

Risk Management Processes:

Project risk management involves identifying the risks, analyze the risk and control the risk. The risk management is done to reduce the impact of risk on project pace. The risk identified can be uncertain and have a huge impact on the resource, processes, technology, and schedule. The 7 processes of risk management lies in planning, executing and monitoring phase.

#36 – Plan Risk Management process

Planning risk management involves preparing the document on identifying risk, prioritizing and managing according to the risk assessment matrix and how to conduct risk assessments activities within the project.

#37 – Identify Risks process

The process of identifying, determining and documenting all the possible risks that may affect the project is Identify Risk process. The main objective of this process is to anticipate the risk before execution.  Documentation of all the risk will help in further project activities.

#38 – Perform Qualitative Risk Analysis process

In order to set the risk priorities, the analysis is done on the probability of the risk, the impact of the risk on the project and other risk parameters affecting the project deliverables. The main objective of performing qualitative analysis is to predict and reduce the uncertainty of the risks.

#39 – Perform Quantitative Risk Analysis process

Performing quantitative risk analysis is the process of numerically analyzing the effect parameters of identified risks on overall project activities. This process helps in further prioritization of risks, reducing the uncertainty.

#40 – Plan Risk Responses process

The process of developing action plans against the identified risks to reduce the overall impact on the project. Planning the risk responses involves selecting strategies and agreeing on the actions developed.

#41 – Implement Risk Responses process

The process of implementing risk responses involves executing all the actions planned against identified risks to reduce the uncertainty of the project.

#42 – Monitor Risks process

The process involves monitoring the implemented action plans against risk identified. This process involves tracking of risk responses, analyzing new risks and reducing the risk factor throughout the project.

Procurement Management:

The project procurement management involves obtaining goods, services and supplies. Procurement includes all the materials required to complete the project. 3 procurement management processes are involved in planning, executing and monitoring phase of project management.

#43 – Plan Procurement Management process

The process of documenting the material required, specifying the approach, identifying potential dealers, identifying good service required for the project within the allocated budget and assured quality.

#44 – Conduct Procurements process

The process of selecting the seller, obtaining seller responses and finalizing the procurement requirement with the seller through agreements. The main objective of this process is to ensure procurements are done according to the requirement for deliverables of the project.

#45 – Control Procurements process

The control procurement process involves managing all the procurement relationship and monitoring contract performance. This process also involves deciding the changes related to procurement wherever necessary.   

Stakeholder Management

The project stakeholder management is the process of identifying suitable stakeholder for the project and meet the expectation of the selected stakeholder. The success or failure of the project depends on the key stakeholders.

Four project stakeholder processes are involved in initiating, planning, executing, and monitoring and controlling the phase of project management.

#46 – Identify Stakeholders process

The process of identifying stakeholders is done in the initiation phase of the project. Based on performance, experience and skills, the key stakeholders are identified to manage the assigned part of the project.

#47 – Plan Stakeholder Engagement process

The process of determining how to approach different stakeholders for different project activities. The roles and responsibilities of the key stakeholder are planned. The amount of engagement in each part of the project work is assigned to stakeholders.

#48 – Manage Stakeholder Engagement process

The process involving interaction with stakeholders and working with stakeholders to meet their expectations, resolving the issues by stakeholder engagement process. This process has a potential impact on the project.

#49 – Monitor Stakeholder Engagement process

Monitoring the stakeholder engagement process ensures effective interaction and engagement between the project stakeholders. Engagement strategies and plans are executed if necessary.

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

 

 

 

 

:

Project management has its own glossary and first-timers, especially those new to project management may find it difficult to blend in without becoming familiar with the project management terms that are often used during their course of work. Every business has its own jargon and project management is no different. In fact, some terms are so common that they can be used in other fields and some terms are very unique.

So, here are 50 select project management terms that will be helpful to communicate and ensure the team members are on the same page.

 

A. General Project Management Terms:

1.    Status Report

2.    Scope

3.    Project Plan

4.    Requirements

5.    Critical Path Method (CPM)

6.    Project Manager

7.    Project Stakeholder

8.    Project Baseline

9.    Deliverable

10. Project Portfolio Management

11. Agile Project Management

12. Waterfall Model

13. Project Budget

14. Project Timeline

15. Gantt Chart

16. Milestone

17. Dependencies

18. Start-to-start

19. Finish-to-start

20. Start-to-finish

21. Finish-to-finish

22. Work in Progress (WIP)

23. Work in Progress Limit

24. Bottleneck

25. Scrum

26. Sprint

 

B. Meeting Project Management Terms

27. Kickoff Meeting

28. Meeting Agenda

29. Meeting Minutes

30. Stand-up Meeting

31. Follow Up

 

C. Resourcing Project Management Terms

32. Resource Allocation

33. Resource Breakdown Structure

34. Resource Leveling

35. Resource Availability

36. Resource Calendar

 

D. Project Risk Management Terms

 37. Risk

38. Risk Management

39. Risk Mitigation

40. Risk Monitoring and Control

41. Risk Owner

 

E. Issue Management and Bug Tracking Terms

 42. Issue

43. Issue Management

44. Issue Tracking

45. Issue Log

 

F. QA Project Management Terms

46. Quality

47. Quality Planning

48. Quality Assurance

49. Quality Control

50. Quality Management Plan

 

General Project Management Terms

 

Status Report

Project status reporting is a formal report on the project progress mapped against the project plan. The purpose of the project plan is to communicate with the stakeholders about the project work, budget, resources, issues, and process.

Scope

A project’s scope defines what work must be done as agreed by the client and vendor. It is something that’s mutually agreed upon as a sphere of work.  Scope makes it clear about what work needs to be done to deliver a project. It is a best practice to document well-defined scope and signed-off by the stakeholders so that only the mutually agreed work will be delivered.

Project Plan

A project plan is one of the most significant documents that cover the project scope and objective. A project plan is more than dates and numbers. And it need not be complicated. The project plan captures the project’s tasks, milestones, resources, deadlines, and deliverables. The project plan is used by project managers to be in constant communication with the team and stakeholders.

Requirements

The requirement is a specification of a need. Requirements describe the condition or capabilities of a system. They are the tasks that must be completed to ensure the success of the project.  The requirements must be carefully recorded in a document for the benefit of the team and all stakeholders involved.

 

Critical Path Method (CPM)

The critical path is the longest sequence of tasks that must be completed on time in order for the project to complete as per the deadline. Critical Path Method determines the shortest time possible to complete the project.  The most critical activities of the project are identified on the critical path. Each task/activity on the critical path cannot be started until its predecessor task or activity is complete. If there is a delay in one of the tasks under the critical path, there will be a delay in the deliverables.

 

Project Manager

The Project Manager is the person responsible for the end-to-end delivery of a project right from initiation to delivery and implementation. The project manager handles every aspect of the project that includes planning, managing scope, resources, cost, time, infrastructure and all other project-related needs. 

 

Project Stakeholder

Project stakeholder is any party with an interest – be it direct or indirect, in the successful completion of the project. A stakeholder can be anyone from the project team, executives, sponsors, customers, or the end-users. Stakeholder refers to anyone who is affected by a project. They usually affect or are affected by the project decisions being taken over the course of the project lifecycle.

 

Project Baseline - The project’s baseline is defined as the original scope, cost and schedule  and used to measure the deviation  from the original plan.

 

Deliverable - It is the final or finished project or product that meets the expectations of the stakeholder in accordance to the contractual stipulations.

 

Project Portfolio Management

Project portfolio management (PPM) is the collective management of portfolios and their components. PPM is a series of projects or the collectively managed set of programs and projects. in order to achieve the organizational goals.

 

Agile Project Management

Agile Project Management is a software development based on an iterative and incremental approach to delivering projects. It draws from agile concepts that focus on teamwork, collaboration, and stakeholder involvement.

Waterfall Model

The waterfall model is a software development life cycle that works on a pattern like a waterfall as the development phases are sequential. The development takes place from one phase to another in a downward fashion. There is no overlapping. Since it is sequential development, it will be difficult to revisit the phases again.

Project Budget

Project Budget is the money or funds allocated for a project. It’s a comprehensive list of financial resources formally approved required to complete a project.

Project Timeline

A project timeline captures all the activities that need to be done over the duration of the project. It creates the framework of the project events according to their occurrence.

Gantt Chart

 A Gantt chart is used to track projects and represented as a horizontal bar chart used in project management. The projects are tracked from start to finish. Gannt Chart is a visualizing tool to track the project schedule and finding out what needs to be done at a particular time period during the project lifecycle.

Milestone

A milestone is a measure of the project’s progress. It indicates a major achievement in the project lifecycle. Milestones help with scheduling and monitoring and indicated symbolically as diamonds.

Dependencies

In a project, there are no tasks or activities that can exist or engage in isolation. In some way or the other, each task becomes an input or output to other tasks. So, there is a reliance on the input or output between activities required to complete the project.  This relationship between the tasks is called Dependency. A dependency is a directional relationship between two activities in such a manner that the start or end of one is dependent on the start or end of the other. Dependencies not only specify the relationship between project activities but also assign the order in which they will be executed.

There are 4 kinds of dependencies:

1. Start-to-start – Predecessor task must start before the Successor can start
2. Finish-to-start – Predecessor must finish before Successor can start
3. Start-to-finish – Predecessor must start before Successor can finish
4. Finish-to-finish – Predecessor must finish before Successor can finish

Work in Progress (WIP)

Work in Progress (WIP) specifies the team’s capacity for the workflow. The tasks engaged by the team at any given point of time during the project are called WIP.

Work in Progress Limit

WIP limit restricts the maximum amount of work that can exist in different stages of a workflow. Limiting work in progress allows teams to identify bottlenecks faster and focus on single work items better.

Bottleneck

A bottleneck hinders the workflow and happens when the workload exceeds the capacity of the system.

Scrum

Scrum is one of the leading and most popular framework used to implement agile. It uses an iterative method for delivery and focuses on prioritizing requirements in achieving the project goals over a short time period called sprints.

Sprint

It is a fixed unit of time required to complete a specific task and its duration is specified by the Scrum Master. The daily standup is conducted during a sprint to assess the progress made towards the sprint goals.

 

Meeting Project Management Terms

 

Kickoff Meeting

A kickoff meeting is generally the first meeting that occurs between the project team and their client. The first meeting that takes place between the project team and customer or sponsor is called as the kick-off meeting.

Once the details of the project are finalized, and even before the work has begun, this kick-off meeting happens to review the expectations of the project so that all the stakeholders are on the same page.

Meeting Agenda

It can be a topic or list of topics to be taken up for discussion in a meeting with a description of the topic and its possible outcome.

Meeting Minutes

Meeting minutes is a document all the matters discussed during a meeting. These minutes of the meeting are circulated to all the attendees of the meeting and are a referral source for a call to action and follow-up action for the items discussed.

Stand-up Meeting

A stand-up meeting,  used in the agile environment is also called as daily scrum which is short in duration and conducted as the first activity of the day. The purpose of the stand-up meeting is to get an update about the work progress made by every team member.

Follow Up

A follow-up meeting is directed towards collecting feedback from the participants involved to plan further course of action. Dedicated follow-up meetings are conducted to collect and assess the outcome of the meeting.

 

Resourcing Project Management Terms

 

Resource Allocation

Resource allocation involves The assigning and scheduling of resources for a project.  The main objective of resource allocation is to maximize the available resources to achieve the project’s intended goals and objectives.

Resource Breakdown Structure

Resource breakdown structure is a complete and hierarchical list of resources required to complete a project which is classified by type and function.

Resource Leveling

Resource leveling ensures that the resource is not overburdened with tasks. It has an impact on the critical path. Resource leveling is a technique to adjust the project schedule in order to keep the resource below the set limit.

Resource Availability

Resource availability presents the availability of a particular resource at a given point in time during the project. 

Resource Calendar

It indicates all the working and non-working days of the resources assigned or allocated to a project. 

 

 

Project Risk Management Terms

 

Risk

A risk is an uncertain event or condition that has an impact on the project’s objectives. A project risk is something that has not happened but could adversely affect the project outcome if left unattended. A project manager must be able to identify and assess the risks to the project. For instance, all the assumptions made at the start of the project are considered risks. The project manager must manage the risks using risk assessment to anticipate and address the risk to minimize the impact on the project. If risks are unidentified and unaddressed,  it can derail the project or throw it off course. 

Risk Management

Risk management deals with the identification and assessment of risks to reduce the likelihood of occurrence of the negative risk and its impact. Effective Risk Management ensures negative risks do not affect the project goals.

Risk Mitigation

A strategy devised to decrease the frequency or probability of the occurrence of negative risks and focuses on a risk mitigation strategy to protect from the negative risks’ threat to the project’s objectives.

Risk Monitoring and Control

Risk monitoring and control process identifies risks using a risk management plan and  tracks the  performance of the risk responses implemented

Risk Owner

Risk Owner is primarily responsible for managing the risk and also mitigate the risk by implementing suitable strategies. The risk owner is also required to be involved in performing qualitative and quantitative risk analysis.

 

Issue Management and Bug Tracking Terms

 

Issue

A project issue is a problem that has been encountered which has negative consequences for a project. Issues are like risks but the difference lies in the fact that issues have already happened, while risks are threats that have not taken place. Poor issue management can have a serious impact that can impair or result in project failure. An issue register or issue log is used to track issues.

Issue Management

Issue Management is the process of effectively detecting, resolving and tracking of the issues related to the project. The main purpose of issue management is resolving the issues before they get blown into catastrophes.

Issue Tracking

Issue tracking is the identification of error or bug that affects the performance of the project or product. The best practice is to use an Issue Tracker to keep track and closely monitor the issues.

Issue Log

Issue Log is a compilation of all the Project issues and the persons accountable to resolve. The Issue log includes the issue status, resolution plan and deadlines for the resolution or fixes.

 

QA Project Management Terms

 

Quality – The quality of a project is a measure of the excellence of a product or project ‘s deliverables. Simply stated, Quality is must meet the expectations of the customer or stakeholder.  Project Quality management, quality control, and project quality assurance are the three processes critical to Quality.

Quality Planning

The expected quality standards are identified in Quality planning and mechanisms created to ensure the standards are satisfied. Quality planning prescribes corrective action in case of deviation from the set quality standards.

Quality Assurance

Quality Assurance is a set of practices created to monitor processes in the project to ensure the quality requirements are satisfied. Quality Assurances necessitates regular quality audits and conducted throughout the project.

Quality Control

Quality control is the application of the best practices in the evaluation of the project or product that meets the desired quality level. This process is performed after the creation of the project in order to detect any changes required for quality assurance.

Quality Management Plan

A quality management plan is a detailed plan consisting of stakeholders’ quality expectations, quality assurance, and quality control policies to successfully execute a project. This plan is usually a part of the project management plan.
 
 

This project management concept compilation is not complete and highlights the most popular and commonly used. We will connect in another blog with another expansive list that will prove beneficial to you in building your project management terms vocabulary.

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

 Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

 

:

What is Agile Project Management?

Agile is an iterative and incremental method to develop software step by step taking frequent reassessment whenever required, instead of delivering the whole product after completion.

Agile Methodology is rapidly adopted by all types of organizations especially which cope with the turbulent customer-driven marketplace which resulted in rapid fame of Agile. The organization which adopted Agile Methodology observed a decrease in critical defects and an increase in productivity. It is considered highly successful and efficient.

In Agile Project Management, project activities are divided into phases termed as “Sprints”. Usually, a week span is allotted to each sprint. After completion, sprints are reviewed and evaluated by the managers. The feedbacks are taken from the stakeholders within a week. The project activities are completed within constrained time according to the feedback from the stakeholders.

Agile management relies heavily on teamwork, customer collaboration, time-boxing tasks and allows greater flexibility.

According to the 13th State of Agile Survey Report (2019),

• 71% of respondents adopted agile because it reduces project cost
• 74% of respondents adopted agile as it accelerates the software delivery
• 51% of respondents claim that adopting agile increases productivity
• 43% of respondents stated adopting agile enhances the product quality

According to the report by EY: Digital Transformation for 2020 and beyond, Global Telecommunications Study, improved organizational agility is at the heart of successful digital transformation.

The book, Agile Project Management (APM) by Jim High smith, was one of the first attempts to broaden Agile techniques into a cohesive whole.

PMI, the world’s leading project management institute for Project Management Professional (PMP), has introduced Agile in their PMBOK – 6th edition. Incidentally, PMBOK-version 6 is the reference material for their flagship Project Management Certification (PMP) course. PMP is globally acclaimed and universally recognized, and benchmark certification in project management

What are the different methodologies of Agile?

The different Agile methodologies include:

• Agile Scrum Methodology
• Lean Software Development
• Kanban
• Extreme Programming (XP)
• Crystal
• Dynamic Systems Development Method (DSDM)
• Feature Driven Development (FDD)

Agile Scrum Methodology

Scrum methodology is an implementation of agile practices based on an iterative and incremental method.  According to the 12th Annual State of Agile Report, The Scrum Methodology is most widely used amongst software development teams as it divides complicated tasks to user stories.

The roles of product owner, scrum master and developer roles can be seen in this system.

Lean Methodology

Lean is an iterative methodology where the products are delivered through effective value stream mapping. The lean methodology was originally developed by Mary and Tom Poppendieck. Lean is an evolving methodology without any rigid rules and guidelines.

The main principle of Lean Methodology is to eliminate waste, fast delivery, team empowerment, continuous learning. Lean methodology eliminate waste by asking the customer to select only valuable features required. It relies on rapid and reliable feedback for faster productivity.

Kanban

Kanban is an agile methodology which relies on visual-based workflow. Kanban was developed on the production line of the Toyota factories in the 1940s. 83% of the teams using Lean methodology uses Kanban framework for continual delivery. Kanban promotes effective teamwork through continuous collaboration.

Kanban is based on 3 basic principles:

• Visualize what you’ll do today (workflow automation)
• Limit the amount of work in progress (WIP)
• Enhance flow

Extreme Programming (XP)

Extreme programming (XP) is a disciplined approach with higher customer involvement, faster feedback, work on prioritization, continuous planning, continuous testing and closer teamwork to deliver high-quality software. XP is mainly based on four simple values:

• Simplicity
• Communication
• Feedback
• Courage

The customer and development work very closely in this method to define and set the priorities. The development team works on an iteration-by-iteration to deliver a high-quality product.

Crystal

The Crystal methodology is of the most lightweight and adaptable approaches based on team size, project priority and system criticality. The crystal methodology is comprised of a set of crystal families mainly for smaller teams. Crystal promotes early and frequent delivery of working software with high user involvement and the removal of distractions. Crystal methodology doesn’t rely on fixing tools and techniques. The core elements are people and processes.

Dynamic Systems Development Method (DSDM)

Dynamic Systems Development Method (DSDM) is a common industry framework for rapid software delivery.  Earlier it was called as Rapid Application Development (RAD). DSDM provides a comprehensive foundation for planning, managing, executing, and scaling Agile process and iterative software development projects. DSDM is based on eight key principles:

• Focus on the business value and need
• On-time delivery
• Collaborate
• Never compromise quality
• Build incrementally from firm foundations
• Iterative approach
• Communicate continuously and clearly
• Demonstrate control

Feature Driven Development (FDD)

Feature Driven Development (FDD) is a model-driven method with shorter iterations. It was built around software engineering best practices. The FDD is based on domain object modelling, developing by feature, and code ownership.  It consists of simple activities:

• Development of an overall model
• Building a feature list
• Planning by feature
• Designing by feature
• Building by feature

Combination of Agile Methodologies

The combination of other Agile Methodologies such as ScrumBan, Scrum/XP etc. are also used in different organizations as per the requirement of the company.

The proper scaling framework is required to implement the Agile Methodology. Scalable Agile Framework (SAFe) is the most used agile scaling framework which enables to implement Agile Methodology such as SCRUM at the bigger enterprise level.

Methodologies such as SCRUM, Kanban or combination of both (Scrumban) and frameworks such as Scaled Agile Framework (SAFe), Scrum of Scrums were developed to meet the long-term planning benefits and help organizations in scaling lean and agile practice.

What are the12 principles of Agile?

The 12 principles of Agile Methodology are:

1. Customer satisfaction through early and continuous quality delivery
2. Welcome changes according to customer’s needs and requirement
3. Business and development go hand in hand
4. A collaborative approach to work
5. Build projects around motivated individuals
6. Promotes sustainable development
7. Face to face clear conversation
8. A measure of progress is working software
9. Continuous attention to excellence
10. Simplicity
11. Self-organizing teams
12. Reflect for Effectiveness

Why adopt Agile project management?

• Provides Clarity: Work is divided into phases termed as “Sprints”. Usually, a week span is allotted to each sprint. After completion, sprints are reviewed and evaluated by the managers. This way of approach provides more clarity and it also provides predictable cost and schedule.
• Enhance quality: The feedbacks are taken from the stakeholders within a week, Stakeholder engagement increases the scope of improvement and to rectify errors (if any) in the early-stages. Regular feedback from customers enhance the quality of the product.
• Encourages teamwork: It is a collaborative process which encourages constant learning and knowledge sharing. It brings out a positivity towards work culture as it encourages a team-based approach to development.
• Faster Return on Investment (ROI) as Agile Methodology focus on fast product releases which justifies the business value.
• Simple Prioritization: Setting out priorities made easier with Agile Methodology.
• Reduces risk as adopting Agile Methodology eliminates the chance of absolute project failure.

What are the benefits of doing Agile Certifications?

Any Certification plays a key role in the career path as it holds solid proof of subject matter and continuous learning. The 10 benefits of doing Agile Certification is :

1. Agile certification is globally recognized and in-demand worldwide.

2. Recognizes your expertise in using agile practices in your projects, while demonstrating their increased professional versatility through agile tools and techniques.

3. Carries a higher level of professional credibility as it requires a combination of agile training, experience working on agile projects, and an examination on agile principles, practices, tools, and techniques.

4. Supports individuals in meeting the needs of organizations that rely on agile project practitioners to apply a diversity of methods to their project management.

5. Demonstrates your level of professionalism in agile practices of project management to employers and potential employers.

6. Increases your professional versatility in both agile project management tools and techniques.

7. Accelerates the scope of your career as an Agile Certified Professional with career advancement, professional growth, and increase in salary and earning potential.

8. Enables you to stand out from the crowd as an Agile Certified Professional. Professionals with formal scrum training and an Agile certification have higher salaries than those without an agile certification, according to the Scrum Master Trends Report 2019.

9. Expands your market reach as an agile certified professional and provides you with an opportunity to network with a vibrant community of agile professionals, related organizations, and experts worldwide.

10. Invest in your future. Invest in an Agile Certification to recession-proof your career. Agile professionals would retain their value even during a recession due to their strong and highly transferable core competencies.

Adopting Agile is not about being Agile or doing Agile, It requires a change in the mindset as well to adopt change in work culture resulting in clear product vision and roadmap.

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

iCert Global offers Agile based Certification:

PMI-ACP®

CSM

CSPO

Agile and Scrum

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Improve Project Success With These Project Management Skills

Project’s success highly depends on project managers and their skill sets to manage the project effectively. In today’s competitive talent pool, you need to acquire all the project management skills to become a successful project manager.

There is a thin line between a qualified project manager and a certified project manager. Qualified professionals possess all the skills required but certification validates their skills, education, experience, and expertise. Project Management Professional (PMP) Certification helps in improving the skills required to manage all types of projects. It opens the doors to go ahead in the career. The project management skills to be improved for project success are:

 

• Leadership
• Communication skills
• Time management
• Negotiation skills
• Decision-making skills
• Risk management

 

1. Leadership

A good leader has the ability to bring the best out of the team with soft skills. The motivated team always gives the best result. A project manager with great leadership qualities lead the team, manage a team, motivate the team and get the work done in an effective manner. The team should be led in both strategic and operation’s perspective.

Project managers can possess effective leadership quality by the following ways that can improve the success rate of the project:

 

• Social- Influence: The performance of the team can be influenced by conformity, socialization, obedience and peer pressure. The productivity of the team can be improved by improvement in work culture. The opinions, emotions, and behavior team members are affected by the project managers.
• Clarity: Clear vision towards goal. Without a clear vision of the consequences, the team cannot be led by the project manager effectively.
• Inspire team members: Project managers should make things happen. The inspiring team is making team members work willingly.
• Motivate team: The motivated team always gives the best result. The team can be motivated by appreciation, opportunities, and rewards.
• Guidance: Project managers guide the team by providing all the required information clearly.
• Setting Measurable goals: The common goals are to be set by project managers. The timeframe required to reach the objective is set to accomplish the common goals.

2. Communication skills

The impact of communication is very high in project success. Communication is one of the most essential skills required to improve the success rate of the project. The effect of the project manager’s communication has an impact not only on the project but also on clients and stakeholders. Communicating clearly is one of the primary responsibilities of project managers. The changes are to be communicated to all the team members. The following skills include the best practice of communication skills:

 

The following modes of communication can help in improving the success rate of the project:

 

• Group meetings
• Email
• One-on-one meetings
• Status reports
• Updates
• Telephonic call

 

Great communication skills include:

• Active listening
• Clarity in discussion
• Confidence
• Responsiveness
• Respect
• Reach on agreements
• Result oriented
• Addressing important issues
• Resolving issues

Poor communication can mislead the project and result in project failure or delay.

3. Time management

Time management is the most important aspect of project management. Planning helps in setting goals and provide a definite path to reach the project objective. A strategic mindset is important for effective planning. Planning includes defining the project activities of each team member to achieve the project objective in constrained time without any obstacle.

It is completely project manager’s responsibility to deliver the project on time.

Keeping track on the project status and individual project activities helps in proper time management

The standardized time tracking tools and schedule templates are used to keep the transparency of the project.

4.  Negotiation skills

Bringing a group of people to settle the differences in order to accomplish the common goal with the agreed resource, budget and time. A good project manager is always a good negotiator. Negotiation always comes with a settlement. In any disagreement, people bring out the best possible outcome. The project manager achieves a desirable outcome of the discussion if PM is a good negotiator. There are two types of negotiation

• competitive negotiation
• collaborative negotiation

The negotiation skills a project manager should possess to improve the rate of project success are:

• An ability to set goals and limits in order to reduce conflict management
• Excellent listening skills
• Effective verbal communication skills
• knowledge of when and how to close the negotiation.
• Reducing misunderstandings is a key part of effective negotiation
• Rapport Building.
• Problem Solving.
• Decision Making.
• Assertiveness.
• Dealing with Difficult Situations.

5. Decision-making skill

Decision making skill is the most important skill a project manager should possess. Some decisions on a daily basis are not much important but there are some critical decisions that lead the project to be successful. The character of the decision should be:

• Rational
• Unbiased decisions

The decision can be taken in the following steps:

• Identify the problem – Recognize the problem in the project process and gather all the information required to take the rational and unbiased decision.
• Summarize all the information
• Figure out all the possible solutions–  find all the possible solutions and ideal way to resolve preferably in a group. Consider all the points and do not ignore anything
• Produce objective criteria – generate the measurement criteria to check the feasibility of the solutions.
• Decide what is best – Make a decision based on what is best for the successful completion of the project within a constrained time.
• Implement the solution – implement the solution decided
• Track the results – Track the outcome of the implemented solution.

6. Risk Management

The project manager identifies the risk at an early stage to avoid the impact of risk on project progress later. To predict the uncertainties, the streamlined risk management process is carried out. Risk identification and analysis are done throughout the project lifecycle to reduce the impact on the resource, processes, technology, and schedule.

In risk management,

Identifying the source of risk -  The potential risks are listed out based on the previous projects.

Risks identified are categorized in:

• Technical
• External
• Organizational

 

Risk Analysis is done by performing two processes:

The qualitative Risk Analysis process

In order to set the risk priorities, the analysis is done on the probability of the risk, the impact of the risk on the project and other risk parameters affecting the project deliverables. The main objective of performing qualitative analysis is to predict and reduce the uncertainty of the risks.

The quantitative Risk Analysis process

Performing quantitative risk analysis is the process of numerically analyzing the effect parameters of identified risks on overall project activities. This process helps in further prioritization of risks, reducing the uncertainty.

Risk Responses are planned against the identified risk:

The process of developing action plans against the identified risks to reduce the overall impact on the project. Planning the risk responses involves selecting strategies and agreeing on the actions developed.

Implement Risk Responses process

The process of implementing risk responses involves executing all the actions planned against identified risks to reduce the uncertainty of the project.

Monitor Risks process

The process involves monitoring the implemented action plans against risk identified. This process involves tracking risk responses, analyzing new risks and reducing the risk factor throughout the project.

 

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 Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

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 Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

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What are the Benefits of using the Gantt Chart in Project Management?

It’s never easy managing a project. In fact, it is very challenging and the project manager is the important driver for the project’s success. Project Manager will require all the resources possible and that includes tools and techniques in achieving the positive outcome for the project. There are a lot many tools employed by the project manager and this blog will deal with one of the significant and specialty tools called Gantt Chart.

What is the Gantt Chart in Project Management?

Wikipedia  describes the Gantt Chart as a “ type of bar chart that illustrates a project schedule and shows the dependency relationships between activities and current schedule status.”

Gantt Chart, in simpler terms, is a Data visualization tool that depicts in a graphical format by mapping the tasks and activities of a project against time. All the activities performed in a project are outlined in the chart in an organized order displaying critical information.

The information presented on the Gantt Chart specifies the tasks of the project, the resources assigned to the task, duration of the task, and also the activities that might overlap. Gantt Chart helps the Project Manager to plan, schedule, track, and manage all the tasks effectively.

What is the History of Gantt Chart

Joseph Priestly in his “Charts of Biography” introduced the idea of bar charts in 1765. William Playfair in 1786 pioneered the Gantt Chart in his Commercial and Political Atlas. Karol Adamiecki, a Polish engineer built something close to Gantt Chart in his construction project in the year 1896. Then came an American Engineer named Henry Gantt introduced his version somewhere between 1910 to 1925 that rose to prominence and became popular in the form of mass adoption in a very short span of time. Gantt Charts were used in wartime during 1917-18 for the tracking of arms and ammunitions. Wallace Clark’s book named “The Gantt Chart – A Working Tool of Management“ released in the year 1923 mentioned Gantt Chart, which by then became an official term.  With the passage of time, the adoption of the Gantt Chart kept growing in a wide range of domains and fields.

 

What is Gantt Chart Elements?

A typical Gantt chart is made up of several elements. The various elements in a Gantt Chart  are detailed below:

 

Tasklist: depicted on the extreme left of the Gantt chart, the task list that runs down vertically describes the project work. The tasks can be grouped together and it is possible to create sub-groups.

Timeline: depicted as the horizontal bar that runs on top of the Gantt Chart. In order to keep track, the time is displayed in terms of months, weeks, days, and years

Dateline: depicted as a vertical line on the Gantt chart. that highlights the current date

Bars: depicted on the right side of the Gantt Chart. as horizontal markers, the bars display the tasks, duration, progress,  tasks’ start dates and end dates for project completion.

Milestones: depicted as yellow diamonds, Milestones show up between the Bars denote an important achievement in a project especially dates,  goals, events and deliverables.

Dependencies: depicted as the light gray lines linking tasks, Dependencies specify the relationships between tasks and the execution of tasks in a specific order.

Progress: depicted as a percentage of completion in the form of shading in the bar indicating the progress made in the project work.

The resource assigned: depicted the resource (team member) or the team assigned to complete the task.

 

Benefits of Gantt Chart in Project Management

1. Get to know your projects

Gantt charts acts as a great visualization and prioritization tool as it provides the total overview of the project and presents critical information like resources deployed in the project, the tasks and its orders, the duration,  the start and end dates, the dependencies, and progress made in the project at any given point in time. Hence, it’s a great tool for project managers to equip themselves with the information to plan, coordinate and manage the project.

2. Enhance communication and team organization

Communication is critical to the success of a project. A study observed in the public domain revealed that 86% of employees cited the communication gap and issues are the worst reasons for the failure of the project. With regard to ti communication Gantt Chart as very effective as it provides clarity in communication. Project managers use the Gantt Chart to find out ‘who is working on what tasks’, secure information and provide inputs in getting the tasks completed. The communication with the team members is enhanced as the same tool can be used for both communication and tracking, resulting in a better relationship as a team.

3. Eliminate resource overload

There could instances when resources could be tasked with more than the permissible bandwidth. It does happen in a project wherein resources could be overloaded or stretched out. Effective use of resources is facilitated by Gantt Chart that aligns with the project timeline. Resources can be delegated tasks without saddling with too much work, which helps the project manager in proper and effective utilization of resources.

4. Assess the progress of projects

Gantt chart helps in scheduling and also tracks the project’s tasks. This assists the project manager in keeping under check the progress made in the project and also enables in shifting strategy to introduce necessary changes in case of slippage of schedule or if the project is lagging behind in timeline. Gantt Chart can be used by the project members to update the percentage of work completed, which is useful to the project manager in making the whole team stay on one page and also ensure the project is making progress rightly as planned.

5. Monitor task dependencies and overlapping activities

The dependencies can at times slow down or even derail as some tasks are dependent to start only upon the closure of another task. Dependencies make project development difficult and complex to manage.  Gantt Chart presents the dependencies of the tasks and helps in scheduling in such a manner that the overlapping can be totally eliminated. This ensures that there is no adverse impact execution of the tasks and the overall progress of the project.

6. Experience more clarity
 

It's easy to get lost in the maze of numbers or stuck in the project details to lose sight of where the project is heading. Gantt Chart provides clarity by enabling to see instantly the progress made in the tasks and also of the team members involved in the project. It builds a better understanding of how the project is shaping out and brings more clarity about the project’s outcome.

7. Practice better time management

Time is an integral and critical component of project management. The biggest benefit of using a Gantt Chart is scheduling. The Gantt Chart plays a significant role by helping the team members recognize the severity of their tasks and realize the impact in case of delay. Gantt Chart presents the big picture of the overall progress to plan better on the allocation of time on every task and get it done within the scheduled timeline.

8. Create a sense of accountability

Gantt charts highlight the milestones achieved, big wins scored, deadlines met and the deliverables, slippage in schedule, failures which allow the project manager and team members to keep a track of the progress made. It creates a sense of accountability is created in the workplace with the help of the Gantt Chart, thus enabling the project manager and team members to work out solutions in closing the gaps and work towards exceeding the expectations of the stakeholders.

 

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

 

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Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

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 Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

 

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What is Project Schedule and Cost Control in Project Management?

The project is considered successful when it is delivered on time and within budget. Project cost and project schedule are the two main critical and uncertain aspects of the project lifecycle. Forecasting cost and schedule both are quite challenging.  Project managers play a vital role in the completion of the project with respect to all the processes of project management aligned with Schedule, Cost,  Scope, Quality, Resources, Risks, Changes, Stakeholders by,

• Keeping projects on track
• Setting time frame
• Assigning resources and allocating time
• Monitoring and controlling cost
• Reduce errors
• Conflict Management
• Reducing errors
• Keeping a record of all the project activities

Successful completion of the project highly depends on effective and efficient Project Schedule and Cost Control. Project Managers hold the responsibility of deciding the resources and getting the project task done within the allocated budget and time.

What is Project Schedule?

The project schedule is a documented framework of the project’s milestones, project activities, deliverables, and timeframe that is highly efficient for any project. The project schedule can be related to the Work Breakdown Structure (WBS). It gives an overview of the overall project’s timeframe. The project schedule is nothing but giving the project a reliable timeframe. Project Schedule helps in tracking the project in all the 5 phases of project management.

There are many tools to develop a project schedule. Gantt Charts are used for small projects and network analysis can be used for large projects.

What are the inputs required to prepare the Project Schedule?

The requirements to create a project schedule is as follows:

1. Scope of the project: Detailed description of the scope is required to decide the start and end date, know the limitations and set the project milestones to meet the stakeholder’s expectations.
2. Resource availability: Before assigning the resource it is very important to know the resource availability. This will be helpful to know if there are any other constraints.
3. Working calendars: List of holidays, working shifts, working days, employee holidays are required to create a project schedule.
4. Project risks: Risk assessment is carried out to make sure there is enough time to deal with the identified risks or make alternate plans.

How to develop a Project Schedule?

Project schedule management involves listing the tasks, deliverables, duration, stakeholder assigned, start and end date of the tasks within the project. The main purpose of the project schedule is to know,

• What needs to be done?
• Who will do the task?
• When is the deadline for the project?
• When should the task needs to be finished?

The Project Schedule is the main output of the Develop Schedule process. Defining activities, sequencing activities, estimating the activity durations.

Define Activities

The list of all the project activities to be conducted during the project execution is documented in this process. The exact actions to be taken to achieve the project objective is the main output of this process. In this process, the input, tools and techniques and output is clearly defined.

Sequence Activities

The process of identifying the priorities of the project activities and documenting the same. The sequence of all the project activities is documented in this process. It is one of the most important processes of project management to keep the project flow smoothly.

Estimate Activity Durations

Estimating the activity durations refers to document the time allotted to each project activity. This process helps to set the whole project timeline according to the sequence of project activities.

Develop Schedule

The process of combining all the components of schedule management to the project timeline is the scheduling process. The document is created by analyzing the sequence of project activities and the estimated duration.

What are the tools and techniques to develop a project schedule?

The following are the tools and techniques used to develop a project schedule:

1. Schedule network analysis: The graphical representation of all the project activities are listed according to sequence and the duration. Schedule network analysis is generally carried out through Gantt Charts or PERT Charts.
2. Critical Path Analysis: The technique used to prioritizing the high-risk task by calculating the critical path in order to complete the project in minimum time. It determines the best possible start and end date of the project.
3. Schedule Compression: The technique used to reduce the project duration considering all the constraints. This technique is used only in certain activities. The two methods are used for schedule compression.

• Crashing
• Fast-tracking

There are many other tools and techniques used in project schedule management such as,

• Critical chain method
• Modeling techniques
• Leads and lags
• Resource optimization techniques

What are the softwares used for Scheduling Projects?

The top 10 softwares used for project schedule is listed below:

• monday.com
• Celoxis
• Hive
• ProjectManager.com
• Forecast
• Mavenlink
• Hub Planner
• Microsoft Project Online
• Workfront
• Asana

What Is Cost Control?

The process of monitoring, tracking and controlling according to the actual cost of the project is cost control. The success of the project is not only determined by completion. It is very essential to complete the project within the planned budget. Cost control is a challenging task due to uncertain circumstances that might occur throughout the project life-cycle.

 

In simple terms, the prevention of exceeding the actual cost is cost control. Cost control helps in an increase in profit and carries out the project in the best economical way.

According to PMBOK® Guide – Sixth Edition, Project cost management is defined as Project cost management includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget.

What includes in Cost Control?

Cost control generally manages the overall project costs. There are 5 types of project costs in any project. They are,

• Fixed Cost - Any Cost which is fixed throughout the project and does not fluctuate.
• Variable Cost - Any cost which changes in proportion to a product or has a high tendency to variate
• Direct Costs - Costs that are directly linked to the budget of the project.
• Indirect Costs - Costs that are not particularly connected to the project but shared across multiple projects.
• Sunk Cost - Sunk Costs are costs which are already spent, but have failed to generate any business value for the project.
• Total Project Cost: The Total Project Cost (TPC) is calculated by putting together the fixed cost and variable cost and Other Project Costs (OPC). It is important to get the total project cost accurate or close to the accurate figure with minimal tolerance as it would severely impact the project scope and schedule resulting in cost overrun.

The comparison of the cost is done according to the project baseline. Project Baseline is a document with the approved plan of project performance. The project performance is compared within the acceptable guidelines. Project baseline also includes,

• Budget Baseline
• Schedule Baseline
• Scope Baseline
• Quality Baseline

Considering all the aspects of the project baseline, cost control is carried out throughout the project lifecycle.

What are the processes involved in Cost Control?

Cost is the most critical factor in any organization. The process of estimating, allocating and controlling the cost of the whole project comes in project cost management. The budget is fixed according to the project activities. The costs are estimated during the planning phase and controlled if it exceeds during execution.

Before controlling the cost, the cost management plan is prepared, individual project costs of all the project activities are estimated and overall

Plan Cost Management process

The process of cost management plan includes the policies, procedures, and guidelines to plan, manage, and control the project costs. It also includes documenting the costs throughout the project. The cost management plan is done according to the project activities, schedule, resources, and requirements.

Estimate Costs process

This process includes estimating all the monetary resources included in the project activities to achieve the target on scheduled time. The costs are estimated based on the resource requirements. The main objective of this process is to determine the overall cost required to complete the process.

Determine Budget process

The process of combining the cost of all the project activities to establish the formal cost baseline of the overall project. This process helps in project cost flow, risk management. Cost baseline helps in monitoring and controlling the cost of individual activities.

Control Costs process

The process of monitoring and controlling the cost of individual project activities during execution is called a control cost process. The costs are controlled and brought to the cost baseline if it exceeds. The document of cost update is maintained throughout the project.

What are the tools and techniques used for Control Costs?

The following are some of  the cost control techniques used:

1. Project Budget Planning: Planning a  proper budget by setting the cost for all the project activities is one of the techniques used throughout the project lifecycle. The project budget is created with a lot of research and critical thinking
2. Keeping track: Monitoring the expenditures effectively during the execution of project activity is highly essential in order to control cost. If anything new comes up, the project activity is proposed as “change requests”
3. Effective Time Management: Time management is the most essential and effective technique used for cost control. If the project activity goes according to schedule the scope of exceeding the cost is less.
4. Change control: The technique to minimize the changes in order to avoid the excess cost.

 

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

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iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

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Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

 Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.

 

 

 

 

 

:

Here's a list of Top Project Management Trends for 2020:

1. Artificial Intelligence and Automation
2. Data Analytics and Business Intelligence
3. Hybrid Methodologies of Project Management
4. Virtual or Remote Team Management
5. Emerging Project Management Tools and Techniques
6. Soft Skills and Emotional Intelligence
7. Continuous Learning 

Project management is a practice to initiate, design, execute, monitor, control, and close a project within cost and schedule constraints. The main challenge of project management is to achieve all project objectives within the given limits.

Managing a project was quite challenging and difficult a decade ago due to a lack of project management tools and insufficient resources. The projects were smaller and simpler compared to current projects.

According to PMI’s Pulse of the Profession - Success in Disruptive Times 2018,

 

 

The field of project management is evolving with advanced technologies, tools, and emerging trends. The trends are meant to be implemented. Irrespective of the size of the project, the implementation of the latest project management trends is vital for the development of the organization.

Here is a list of the most prominent project management trends for 2020.

1. Artificial Intelligence and Automation

The hype for Artificial intelligence (AI) is alive since 2018. The main purpose of project management is analyzing risk, reducing cost, minimizing the repetition, ensuring smooth project flow, delivery on time and within budget.

 

The role of project managers is to monitor and manage the project with minimum repetition work and excellent decision-making skills. There are many project activities involved to successfully complete the project. 

Irrespective of the size of the project, there is always uncertainty. Risk-based probability management is always challenging for humans. The uncertainty can be reduced by using AI, machine learning and predictive analysis.

According to Gartner,

By 2030, 80 percent of the work of today’s project management (PM) discipline will be eliminated as artificial intelligence (AI) takes on traditional PM functions such as data collection, tracking, and reporting.

Gartner also predicts that,

By 2021, 70 percent of organizations will assist their employees’ productivity by integrating AI in the workplace.

Humans face challenges while handling complex data. Artificial Intelligence plays a vital role in minimizing human interference in day to day work.

In Project management, AI can be useful in,

1. Early prediction of risks
2. Eliminating repetitive work
3. Improved project analysis
4. Increase inefficiency

There are many tools and technologies of artificial intelligence used in project management:

1.  Knowledge-based expert system (KBES):

The combination of knowledge Base and Inference Engine, KEBS is a system created by collecting the facts and opinions from the subject matter expert (SMEs).

KEBS is used to provide the resource requirement and estimates of the duration for project activities based on the information by SMEs.

2.  Artificial neural network (ANN)

Artificial neural network (ANN) is a machine learning approach that has the ability to learn, generalize from the data and use the data the same as the human brain.

ANN is used to sequence the project activities based on the requirements.

ANN helps in predicting cost overruns based on project size, the competence of project manager and type of contract used.

ANN estimates the probability of occurrence of risk by allowing a quantitative approach to risk analysis.

3.  Genetic Algorithms (GA)

Genetic algorithms (GA) is an iterative search method based on the social behavior of the species or humans. It uses the natural evolution process to bring out the optimum solution to the large scale problems.

GA uses the natural evaluation process of selection, mutual decision and cross over to arrive at a decision.

GA in project management is used to optimize the schedule of project activities within constraints in order to reduce the cost.

4.  Fuzzy Logic

The logic computing by which we can determine the “degree of truth”. Fuzzy Logic helps to prioritize the project activities.

Fuzzy logic is used to assess risk in the project to model the probability distribution.

AI and automation are not taking over the project manager’s jobs. It is just making the process simpler.

Project managers getting familiar with AI and automation will make work much simpler and systematic. With AI and automation, you can deliver the project on time and on budget. 

2. Data analytics and Business intelligence

Project management includes a lot of data. Optimizing the business with lots of data is quite challenging. Project-based data are sometimes complex. In order to observe, measure and analyze the data, data analytics are used. Data analytics and Business intelligence both play a vital role in project management.

According to Gartner,

By the end of 2020,  the Data Analytics and Business intelligence market are forecast to grow to $22.8 billion.

By using the data analytics, project managers will be able to know the magnitude of the information available, performance of the project which will help project managers to make strategic decisions.

Project managers can use analytical reports to breakdown complex data into insights. These insights from data analysts are sent to project managers or decision-makers.

According to Gartner, the top ten technology trends in data and analytics are:

 

Project managers are more focussed and continuously engaged in facing strategic and operational challenges. The project managers aim to make the project more effective with efficient resources within budget.

Poor project management can lead to cost overrun and delay in completing the project than expected.

Effectiveness in project management can be increased by business intelligence. Business intelligence can help project managers in 4 ways.

1. Business intelligence can automate the processes
2. BI helps to predict risks
3. BI controls the cost overrun
4. BI provides more reliable and accurate data

The trending software used for Business intelligence are:

1. SAP Business Intelligence
2. Microstrategy
3. Datapine
4. SAS Business Intelligence
5. Yellowfin BI
6.  QlikSense
7. Zoho Analytics
8. Sisense
9. Microsoft Power BI
10.  Looker

 

According to a survey conducted by  Business Application research center, the importance of Business intelligence trends for 2020 by 2865 respondents is shown below:

 

Hence, Master Data Management is the top trend for business intelligence for 2020.

3. Hybrid Methodologies of project Management

Project management methodologies are all about determining how the project should be planned, monitored and executed.

Project management methodologies can be a set of methods, techniques, guidelines, templates and best practices. Generally, a single method is chosen as an end to end solution for executing a project.

Traditional methods are suitable when there are a definite path and well defined final outcome.

Agile methodologies are trending but it is quite challenging to implement it.

 

Project management requirements along with increasing uncertainty and complexity make it more difficult to choose any one method of project management.

Hybrid methodologies of project management refer to implementing different methodologies together as per the requirement.

Projects are classified based on the following four components which will further decide how projects should be managed.

• Complexity
• Novelty
• Technology
• Pace

Different projects have different requirements. One-size-fits-all solutions do not hold good for all the projects. A multi-dimensional framework is introduced based on the fundamental practices of project management. In order to characterize a project, 14 parameters are considered and three potential levels are identified for each parameter. Based on the results, different project management approaches are proposed.

The multi-dimensional framework includes 14 attributes and 23 different project management approaches derived from the traditional waterfall method, Agile method and Theory of Constraints (TOC).

Source: PMI

The below table shows the main approaches identified in the waterfall method, agile method, and TOC.

Source: PMI

Specific projects are characterized based on selecting the appropriate value on each dimension of 14 attributes.

The mapping between the fourteen attributes and different approaches are carried out by project managers.

This results in the successful implementation of project management. PRINCE2 certification can be done along with Agile and Scrum for better understanding and implementation of hybrid technologies.

According to PMI’s Pulse of Profession 2019 11th Global Project Management Survey,

Nearly 60% of Project Management Technology Quotient (PMTQ) Innovators used Hybrid Project Management Practices for successful project completion.

PMTQ is the person’s ability to adapt, integrate and manage technology-based requirements in the organization.

4. Virtual or Remote Team Management

The virtual or remote team is when the project is carried out by the team members working in different locations and virtually. Virtual projects are led by the managers and are one of the top trends in project management due to the rapid development of technology, globalization, increasing outsourcing, and talented resource availability in a different location.

According to The Modern Workplace 2019: People, Places & Technology study by Condeco,

Condeco concluded that remote working is the major trend in America

43% of U.S based organizations stated that more employees are expected to work remotely in 2020.

52% of U.S companies said they offer remote working to increase employee retention.

 

There are many benefits of Remote Working,

• Flexible schedule
• Comfort working from home
• Higher Productivity
• Can avoid commuting
• Better work-life balance
• Better health
• Reduces attrition
• Improves morale

Based on the State of Remote Work-2019,

There are many challenges to be faced in managing the Remote team but there are ways to overcome the challenges.

Challenges faced in managing a remote working team:

1. Hiring the right resource
2. Language
3. Setting schedules might be quite challenging
4. Difficulty in tracking progress and performances
5. Lack of connection with the team
6. Lacking appropriate communication

These challenges can be faced by using the best practices and tools:

Best practices to manage remote working

1. Encourage transparency in work: Regular communications about the project, project scope, and objective, vision, review of the output. A clear chain of command helps in setting expectations.
2. Utilize technology: Reliable, secure and well-equipped technology can ensure effective remote work
3. Hiring the right resources: Hiring Self-motivated individual with the required amount of skill can make managing the remote work simpler.
4. Arrange events and meetings: Arranging common meetings for the remote team along with the company staff can help them to interact more with other team members.

Tools used for managing remote working teams:

1. Slack
2. Proprofs
3. Basecamp
4. UberConference
5. Document sign by Adobe
6. Zapier
7. 1Password
8. Canva for work
9. Hubstaff
10. Process street

5. Emerging project management tools and techniques

Implementing new tools and technologies can ensure project success in every aspect. Project Management Softwares have become an integral part of the projects.

According to PWC,

 

 

Every project has goals and objectives, to accomplish the goal certain project activities are carried out with effective project management. Project management is quite a complex process. To streamline a process, project management software is used.

According to Mordor Intelligence,

The project management software market is expected to register a CAGR of 10.17% during the forecast period (2019 – 2024).

The top three requirements from project management software are:

• Reliability
• Ease of use
• Ease of Integration

There are two types of project management software available nowadays:

Online: Cloud-based technology with application providers such as SaaS (Software-as-a-Service).

On-Premises: Project management software residing in the company’s own server and is managed by the company’s IT team.

There are many project management software that fulfills all three requirements.

The top reasons to adopt project management software according to the survey conducted by Project-management.com,

The project management softwares are used for the following function:

• To set a project management plan
• For resource allocation
• Budget
• Schedule management
• Collaboration and communication
• For records and documentation
• Tracking the project progress

The list of top  project management tools are:

1. ClickUp
2. Wrike
3. Asana
4. Trello
5. Workzone
6. ProofHub
7. MeisterTask
8. Monday
9. Teamwork
10. Podio

Implementing project management tools and software can ensure the completion of all kinds of a project successfully.

6. Soft skills and Emotional Intelligence

Emotional Intelligence is the ability to monitor one’s emotional balance and make decisions using multi-level awareness.

A good project manager does not only possess the ability to manage projects, but also the one who builds a good relationship between team members through emotional bonds.

The project manager should be open to work in a complex matrix environment where PM needs to influence, collaborate and negotiate.

Emotional Intelligence is the key to leadership.

Project management requires,

• A great communication skill
• Must be in tune with team members emotions
• Ability to understand the situation
• Must be aware of the behavior
• Need to motivate the team members

There are five categories to measure emotional intelligence:

1. Self-Assessment: Being aware of one’s strengths and weaknesses.
2. Self-Regulation: Discipline to control and/or redirect emotions.
3. Empathy and Compassion: The ability to feel what others feel and being concerned and helpful.
4. Relationship Management: Connecting with others in a healthy way.
5. Effective Communication:  interacting in an effective manner with decent body language

According to Sodexo, The World Economic Forum identifies Emotional Intelligence as one of the top 10 competencies for 2020

Soft Skills: Effective interaction with clients, team members or management is called a soft skill.

 

According to PMI’s Pulse of the Profession® in-depth, In SHRM’s report The New Talent Landscape: Recruiting Difficulty and Skills Shortages, HR professionals in organizations that were hiring full-time employees rated the need for new skills for these positions.

7. Continuous Learning

Learning is never-ending. When any new projects are taken, the organization may adopt new technology to carry out the project. By training the resources with the new technology holds good for both employer and employee. Training the existing employee will help in executing the project successfully and employees are benefited from added skill.

The employee with continuous learning and dedicated to professional growth is an asset to the company.

The employers know the importance of training in project management.

According to PMI’s Pulse Of The Profession,

Three in five organizations provide training on project management tools and techniques

The resources capable of executing the project with added skill also helps in retaining the employee and elimination of hiring new resources.

Training and development not only helps in learning a new skill but also helps in developing the existing skill.

The project management skill developed through courses and certification helps the project managers to,

• Dealing with Change
• People Management
• Stakeholder Management and Engagement
• Communication with Stakeholders
• Communication with Project Teams
• Planning
• Leadership
• Developing Critical Success Factors
• Managing Conflict
• Managing Quality

Typical new skills learned included:

• Active risk management
• Planning, implementing and monitoring projects
• Pert Charts
• Costing
• Detailed knowledge of scheduling
• The Procurement process
• Earned Value Management

According to ILX research report,

63% of the respondents conduct training to improve business capabilities.

 

 

 

 

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• Artificial Intelligence and Deep Learning Certification Training Course
• Machine Learning Certification Training Course
• Big Data Certification Training Courses
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• CAPM Certification Training Course
• CompTIA Cloud Essentials Certification Training Course
• AWS Solution Architect Certification Training Course

We provide instructor-led classroom and instructor-led live online training across the globe. We also provide Corporate Training for enterprise workforce development.

 

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

 

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

iCert Global both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across United States and around the world.

 

Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 

Which certifications are you aiming to achieve in 2020? Let us know your thoughts in the 'Comments' section below.

 

Thank you for reading this blog post. Hope you found it useful and interesting. Team iCert Global wishes you all the best for your learning endeavors.

:

Project Management is all about maintaining the correct flow of the project, mitigating all the risks encountered. There are many aspects of project management to be taken care of. A successful project manager is the one who manages tasks, resources, budget, dependencies, and risks to successfully complete the project on time. The project manager should be well versed in the methodologies, business strategy, the objective of the project, and should have,

• Effective Communication Skill
• High-Vision
• Integrity and honesty
• Leadership
• Problem-solving skills
• Ability to motivate a team
• Task delegation
• Decision-making skills
• Negotiation skills
• Risk mitigation skill

Project Manager brings complete clarity on the scope of each function, the sequence of interdependency between functions, expected timeline for each function with a complete resource plan

 

According to the Pulse of the Profession 2018: Success in Disruptive Times,

The following are the reasons why the project fails:

 

Project management is quite challenging. The Project Manager must be always aware of the risks in the action taken, and hence should be careful to execute those actions with minimal risks or risks that can be mitigated and eliminated. The chances of taking the wrong step are quite high depending on the complexity of the project.

Here are the common mistakes of project management to avoid:

1. Lack of communication between stakeholders
2. Poor Resouce Management
3. Lack of knowledge on the project objective
4. Poor Prioritization
5. Lack of control on changes
6. Not following project management processes
7. Not using project management softwares and tools
8. Setting unrealistic goals
9. Micromanaging the team
10. Incorrect estimation of Budget and Time

 

1. Lack of communication between stakeholders

Lack of communication leads to insufficient knowledge of the requirements of the project. It affects the overall performance of the team. Effective communication is required to run the project activities successfully.

The required message to be conveyed should be clear and always have a record. Communication involves,

Encoding= Creating a message

Decoding= Interpreting and understanding the meaning of the message sent.

The primary rule of communication in project management is to inform the respective stakeholder about any change in the requirement.

Varying expectations can affect the overall project quality, cost, and schedule. Poor communication also affects team members.

The project schedule is disturbed when the required message is not reached on time. Poor communication between stakeholders can cause confusion among team members.

Almost 29% of the projects fail due to poor communication.

Project managers with effective communication skills convey the project goal, motivate the team and resolve the conflicts.

2. Poor Resource Management

The resources can be anything that is required to deliver the project on time. Resources can be people, equipment, skillset, space, tools, finances and time.

Poor project resource management can cause,

• Unsatisfactory deliverables
• Unexpected setbacks
• Increase in re-work
• Increase in cost

Identifying the wrong resources in terms of their skill set can result in poor quality, rework, and increase the overall cost of the project.

Effective resource management is carried out using the following technique:

Resource Allocation: Depending on their availability and skills, the resources are allocated to perform the project activities.

Resource Scheduling: The estimation of the resource required to complete the project activities within the specified timeframe.

Resource Leveling and Resource Smoothing: Resource leveling and resource smoothing take care of limited resources. It generally avoids over-allocation and under-allocation.

Resource Forecasting: The process of predicting future resource requirements ahead of time is resource forecasting.

3. Lack of knowledge on the project objective or goal

Unclear project objectives can cause project failure. The project objective and goal should be defined at the initiation stage to avoid miscommunication and wrong understanding of the project.

In order to define the project objective clearly,  DUMB method is used

Doable

Understandable

Manageable

Beneficial

 

By using a DUMB method, the project manager can set clear goals and define the project objective.

4. Poor Prioritization

Aligning the project activities and resources according to the project strategy is called project prioritization. Poor prioritization of the project activities can lead to,

• Project failure
• Delay in closing the project
• Unsatisfactory customer response
• Missed business goals

Effective project prioritization focuses on whole project delivery and can be carried out by using the following processes:

Value definition: The strategic value of the organization is defined by addressing the strategic goals to all the key stakeholders.

Weight your criteria: The process of turning all the business values and strategies to weighted criteria. All business goals are not equally important. The value of each business goal is measured.

Evaluate and score your project: The list of all the project activities are put together and evaluated according to weighted criteria.

Make the final prioritized list: According to the score of each project, the list is prepared.

 

5. Lack of Control on changes

Change control is a critical aspect of project management. Changes can occur anytime throughout the project life cycle. Changes become inevitable despite capturing everything in the scope but the changes must be controlled to avoid scope creep. Changes in the scope of the project can lead to project failure. Poor change management will result in

• The project might be put on hold
• Project delays
• Rework
• The project might fail to deliver
• Impact on customers
• Decline in morale
• Increase in expenses

The ADKAR model is used for effective change control.

Awareness: spreading awareness of change

Desire: Building desire to accept the change and support it

Knowledge: Training team members to gain complete knowledge of the change to be implemented.

Ability: Check the ability through evaluations and feedbacks

Reinforcement: Monitor the employees implementing the changes.

 

6. Not following project management processes

Poor project management causes project failure. The set of guidelines are to be followed. Project management is a complex process. Creating the work schedule in the initiation stage and assigning the tasks according to the schedule and monitoring will lead to successful projects. Processes are there to help the project run smoothly. Skipping the process can be the reason for rework.

7. Not using project management softwares and tools

In this digitalized era, not utilizing the softwares and tools is the common mistake in project management. There are many tools and softwares which help project managers to accelerate the project with minimum time. It helps in planning and executing and monitoring the project. Working manually and doing everything on your own takes a lot of time and chances of making mistakes are more. There are many project management tools available to fulfill the fundamental requirement. There are project management tools for the following functions:

Planning and Scheduling: The tools are available to plan tasks, subtasks, folders, templates, and workflows.

Tools for planning: Teamweek, 10,000 Ft plans

Collaboration: there are many other tools available other than emails.

Documentation: File management tools are available to manage the documents and records.

Evaluation: Tracking and evaluating is much simpler with tools.

8. Setting unrealistic goals

Setting unrealistic goals will increase work pressure in the team members. The unrealistic deadlines lead to poor quality of deliverables. Due to work pressure, the employee will target to finish the goal rather than producing a quality result.

The deadline for the project should be decided considering all the aspects such as

budget, time, resources availability, customers, stakeholders, suppliers.

9. Micromanaging the team

Micromanaging is one of the most critical factors to arise in conflicts. In simple terms, micromanaging is trying to control and monitor everything in the team. Micromanaging holds good in smaller teams as it makes complex operations more reliable. In larger organizations, the manager might lose track of the bigger assignment. Even though it gives a clear picture of the operations involved, over-controlling might affect the productivity of the team members.

The Objective and Key Results (OKR) is a technique used to micromanage without over-controlling. It provides all the useful elements to manage a team.

• OKRs allow the team to focus on their objective which is set every quarter.
• The objectives should be actionable and have a deadline.
• 4 measurable results are defined for each objective.
• The result should be measurable and lead to progress.
• The result should be quite difficult but achievable.

10. Incorrect estimation of Budget and Time

Lack of knowledge on the project at the initiation stage results in uncertainty in the estimates. Insufficient knowledge of the requirements and dependencies causes the wrong estimation of budget and time.

Incorrect estimates are not the direct cause of project failure. Poor estimation practices and Upfront planning are the main causes of incorrect estimation.

All the projects are different in terms of requirements, technology, business context, and constraints.

In order to minimize the errors in estimation and issue faced during execution,

• Ranged estimates are provided using a cone of uncertainty.
• Re-plan and re-estimates are done while tracking the progress of the project.

 

 

We provide instructor-led classroom and instructor-led live online training across the globe. We also provide Corporate Training for enterprise workforce development.

 

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

 

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

 

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

 

DevOps Training by iCert Global:

- DevOps Certification Training Courses

 

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

 

iCert Global both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

 

Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

 

Which certifications are you aiming to achieve in 2020? Let us know your thoughts in the 'Comments' section below.

 

Thank you for reading this blog post. Hope you found it useful and interesting. Team iCert Global wishes you all the best for your learning endeavors.