Managing project complete overview

PMP the project management professional exam provides a simple overview of what happens while managing a project. As per PMBOK the bible for project managers developed, published by PMI managing a project involves one or more of the following steps: Managing projects involves the following steps - requirement identification, managing stakeholders, stakeholder co-ordination, managing project constraints. Have email subscription with us. We'll mail you material ASAP 1) Requirement Identification - Every task starts with knowing what needs to be accomplished. Requirement is very very important in any project be it development of new product, enhancing existing product, service projects , support projects etc. In a real world scenario though some firms employ Business analysts for this purpose project manager should have extremely good grep on project requirement. Say the customer is looking for a login screen. It becomes necessary to take requirements to the level of where the login button needs to be placed. This box can be in square shape(or) rectangle shape. We cant assume the shape of the login box. There are some sensitive customers who talk about color of button, background of login box. This is a simple example of identifying requirement fully and completely. Spending much time is a proactive measure in project management that does worth it. 2) Managing stakeholders - Anyone associated and involved in project becomes project stakeholder. This is not limited to customer, project manager, team members, vendors etc. Project manager is involved in addressing various needs, concerns, expectations of stakeholders. This starts with project planning, execution of projects that comes in form of proper co-ordination and communication among stakeholders 3) Make sure stakeholders work towards correct project requirements. A simple example of login box discussed above explains this 4) Managing Project Constraints - Project manager should balance among competing project constraints including scope, quality, schedule, budget, resources, risks PMP certification and its significance in managing projects: PMP certification the Project Management Professional training program is gaining popularity and here is a quick overview on what a PMP certification is and how to avail it? What is PMP certification? PMP is the certification track on Project Management offered by PMI the Project Management Institute. PMI is the worlds leading not-for-profit association of project managers that offers certification in many different levels. PMP is the professional level of certification from PMI PMP - This awards the competency stamp on project managers. As per PMI, a person who has successfully completed PMP is professionally certified to lead and direct projects. He has demonstrated experience, expertise, training to accomplish the project management I've worked on projects. Should I need PMP? Ideally the answer is your choice. Project managers usually are from variegated background including development, testing, dba, build/release, functional personnel etc. They obtain the status of project manager mostly as a promotion in their career ladder. PMP certification taught them the art and science of project management. The functional knowledge together with project management knowledge gained by clearing PMP certification puts them in high demand How much salary can I expect in if I clear PMP? PMP has been constantly topping the most wanted IT skill for past three years. On an average a person with PMP certification makes around 108000+ vs a person having no certification making around 90000 What is the eligibility requirement to apply for PMP? It can fall into one of the following two categories 1) If you don't have bachelors degree then criteria is : 1.1) A secondary degree - high school diploma, associate degree, global equivalent 1.2) Five years of project management experience. This should include 7500 hours of directing and leading projects 1.3) 35 hours of PDU. We at learnersreference.com offer 35 hours PDU - This is a mandate requirement to appear for PMP Exam 2) If you have bachelors degree the eligibility criteria becomes : 2.1) Bachelors degree 2.2) Three years of project management experience. This includes 4500 hours of leading and directing projects How is the success of a project measured? Project is an endeavour that has following characteristics: 1) Temporary in nature 2) Produces a product, service, accomplishes task 3) Has definitive beginning and end 4) Needs to be accomplished within the stipulated constraint of time, quality, risk, resources as agreed upon between project manager and senior management 5) Should accomplish agreed upon scope When is a project considered to be success? A project is considered a success if : 1) End result is accomplished on time, within budget meeting resource, risk constraints etc 2) Accomplishes agreed upon end result 3) Will accomplish pilot phase within agreed upon schedule 4) Produces end result meeting budget and time constraint PMP terms definition prep : To obtain more information and clear the PMP Exam in first attempt join our PMP training with 35 hours of PDU Learn these simple PMP terms to start with. They help you travel easily in path of PMP prep journey, clear exam in first attempt Project - Project is a temporary endeavor with a definite beginning and end date undertaken to produce a unique product, service or result. It is to be noted that this is finite with defined beginning and end. Project is the basic concept upon which entire project management is being built WBS (Work breakdown Structure) - WBS is a deliverable-oriented hierarchical decomposition of work to be executed by project team, to accomplish the project objectives and create the required deliverable Fund limitation - Limitation placed upon funding for the project, whether in total value or over specified time frames Decomposition - Subdividing project work packages into smaller, more manageable components called as schedule activities Planning package - planning package is a WBS component below the control account, but above the work package. This component is used for planning known work content that does not have detailed schedules activities Cost of PMP Exam Is it reasonable : PMP the project management professional certification exam is offered globally at a standard price of $405 for members and $555 for non-members of Project management Institute (PMI). As such this examination is considered one of the costliest certifications in the world. Whenever we want a career or career change always first question would be do we really need to be certified in that technology or domain? It may not be essentially important as it used to be last decade. However, when it comes to project management is PMP certification essentially important. If so what is the real reason behind me choosing PMP over PRINCE2 or some other industry recognized project management certification The real simple answer would be PMP is widely recognized industry standard project management certification. As of 2016, when we search job sites like Indeed we see 19000+ jobs that demand PMP certification. This is a global certification in itself. There is no real cosntraint while applying the principles of project management that has been standardized as PMBOK guide from project management institute PMI. This unique nature makes this a good choice for allthe projects starting with construction, electrical,mechanical, healthcare, utility, IT sector, banking and more to add to its kitty. There are many more reasons that does justify the cost of PMP certification exam. As of today the price of member is $405 and non-member is $555. Check website and this keeps changing from time to time start preparing for pmp exam : PMP exam the popular credential offered by Project Management Institute aka PMI is often considered crown certification among project management aspirants and job seekers. The essential credential many employers, recruiters look for while hiring project managers is the PMP. PMI often conducts review of its exam content in the form of role delineation study that takes into consideration roles, responsibilities of project managers in many different industries, the way they evolve, keep changing to meet current trends. This is included and updated in PMBOK, Project Managment Body Of Knowledge the standard that gets updated by PMI on a priodic basis. This update on an average does happen once in two to three years. PMBOK book is the basis upon which PMP credential is designed. Complete understanding of PMBOK knowledge areas, tasks within each knowledge areas is often expected as an essential skill while choosing project managers who undertake new projects as well as someone who is already well experienced and standardizes himself by understanding PMBOK. PMP exam preparation involves lot of preparation, practice. We at learnersreference.com PMP Exam Prep would like to help you with exam preparation and success by providing useful PMP exam preparation articles. For daily updates in your inbox, have an email subscription with us. PMP is the most popular project management credential: PMP the project management professional certification exam from PMI the project management institute is most popular among project managers. As an aspirant aiming to learn project management concepts PMP credential is most sought after in market and the PMBOK standard is widely accepted. Hence, PMP credential is the crown among project manager aspirants Let us see why PMP is most popular and widely accepted among project manager community? PMP exam is a rigorous process that attempts to validate the quality of candidate starting from application process. PMP exam application process validates the experience, educational qualification, expertise of candidates appearing for PMP exam to make sure they are competent to handle multi-million dollar projects upon completion of exam and acquiring PMP credential. This indirectly demonstrates the competency of candidates holding PMP credential PMBOK the PMP Exam Bible : PMP exam offered by Project Management Institute(PMI) is the most valued project management certification in the world. learnersreference.com helps you get a best headstart and will assist you in achieving your PMP accredition goal with minimal efforts by providing best tips, tricks, articles to name a few. Lets start with PMP exam a quick start overview. PMP exam preparation starts with PMBOK the Project management body of knowledge that gets revised once in 4 years and gets published from PMI. The latest PMBOK edition is the 5th edition from PMI that took effect starting August1st,2013. PMBOK 5th edition Major change:- 47 project management process - previously 42 project management processes project stakeholder management - new knowledge area Project a brief overview :- A project should crate unique product, service, results within specified timeframe.Hence all projects are temporary with a stipulated start date and end date We can have sucessful project completion (or) terminate it voluntarily Some common examples of project include creating a website, building a villa etc Project activities can be unique (or) repetitive.However, this doesnt take away the project uniqueness Difference between project and operation:- Operation usually involves standard activities to create standard outputs. As oppsed to project operations are not unique What is use of PMBOK? Project Management Body Of Knowledge popularly called PMBOK is published by PMI the Project Maangement Institute. The latest PMBOK 5th edition is published by PMI. What is use of PMBOK? PMBOK offers guidelines on projects. All it talks about is project 1) PMBOK talks about project management guidelines 2) Talks about project management concepts 3) Talks about project management pocesses 4) Talks about project management lifecycle PMBOK is all about a project and the method to manage a project What is significance of PMBOK on project management? Project maangement is an art and is been made a science by structured lifecycle, processes, tools etc. All teh guidelines are well documented in PMBOK. To attempt and clear the PMP certficaiton from PMI PMBOK is the first point of reference PMP Exam Syllabus: The Project Management professional exam offered by the apex body PMI has the following course topics as its syllabus Introduction to PMP • PMP application process, exam pattern, fees and other useful information about exam preparation Project Management Framework • Projects • Project Management • PMBOK guide structure • Areas of expertise • Project Management Context Project Management Processes • Project Management Process • Project Management Process Groups • Process Interactions • Project Management Process Mapping Project Integration Management Project Scope Management Project Time Management Project Time Management (Problems) Project Cost Management Project Quality Management Project Communication Management Project Human Resource (HR) Management Project Risk Management Project Procurement Management Professional and Social Responsibility It is always difficult to locate good trainers in your area. To overcome this problem, we've introduced our new training. Also, visitors can find interesting jobs listed up-to-date minute by minute on a real-time basis Scope definition pmp exam : Preliminary project scope statement created using the project initiation phase is refined to obtain a detailed project scope statement. Project scope statement is a baseline against which we measure the project scope. Project scope statement includes information on deliverable expected out of the project. Inputs : We determine what is and what is not included in the project at this stage. Once the project starts there are approved change requests raised at different stages and given as input to this stage. Few other inputs are discussed at this stage: We make use of organizational process assets. Primary input is preliminary project scope statement that is refined to obtain project scope statement. In addition project charter and project scope management plan are fed in to decide the work to be performed. Change requests raised to change the scope of the project when approved is given as an input to scope definition to change the project scope statement. To summarize the scope definition has the following inputs : 1) Organizational process assets 2) Project charter 3) Preliminary project scope statement 4) Scope management plan 5) Approved change requests Tools and Techniques : Following are the tools and techniques used at this stage: Stakeholder's needs, wants and expectations are analyzed and turned into requirements at this stage. For example, when an organization wants to expand their business : creating a website - Need Website with specifications - Want The search engine part in website should display the results obtained in sorted form -Expectations(undisclosed requirements) When deciding the work to be performed often expectations are not disclosed. It is the job of a project manager to analyze the requirements carefully and create the scope statement. Next comes the product analysis which is again relevant to stakeholder requirements. In this stage the project manager clearly analyzes and understands the requirements specified by sponsor and customer and turns them into tangible requirements. For example, the need may be to automate the operational processes. It is the duty of project manager to determine the framework, specify the tools used to automate and streamline the automation. During scope definition, stakeholders meet and determine alternative ways of doing the same work. Some good alternative identification techniques are brainstorming and lateral thinking. Brainstorming is a process wherein an issue is brought up in the form of questionare and the meeting attendants respond by giving their opinion in a piece of paper. When this process is carried out in anonymous form where the attendants don't disclose their name it is called as Delphi technique. Lateral thinking can be applied to generate ideas. This is a process wherein we think beyond horizon, think in a different fashion, pick random ideas and carry out things that had not been done before. When deciding the scope of the project, the SME(subject matter experts) are consulted . Expert judgement is a major input in defining the scope. To summarize the tools and techniques used during scope definition, we have : 1) Product analysis 2) Stakeholder analysis 3) Expert judgement 4) Alternative identification(brainstorming, lateral thinking etc) Outputs : Inputs when acted upon by these tools and techniques produce the following outputs : Project scope statement is the output document which is a baseline to monitor and control scope changes. Approved changes are applied to the project scope management plan. Changes are raised to make changes to project management plan and its subsidiary plans. They are processed through integrated change control. To summarize these are the outputs : 1) Project scope statement 2) Requested changes 3) Project scope management plan(updates)