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Key Concepts for Project Mgmt


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Compilation of key concepts for Time Management and Project Scheduling & Project Mgmt

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Key Concepts for Project Mgmt

  1. 1. Key Concepts of Project Management Brief overview using easy to understand analogies Compiled By: Jaiveer Singh, PMP
  2. 2. Project Feasibility - Illusion or Reality
  3. 3. Scheduling is Modeling
  4. 4. Progressive Elaboration– Moving From the Unknown to the Known Progressive elaboration, is defined by PMBOK*as “continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available as the project progresses, and thereby producing more accurate and complete plans that result from the successive iterations of the planning process”.
  5. 5. Understand Project Landscape
  6. 6. Identify Project Hidden Challenges The Tip of the Ice Berg
  7. 7. Few Common Project Challenges
  8. 8. Panoramic Project PlanningHow many times have you heard aboutlooking at the “big picture”?Taking in the full panorama of the landscape during a project planning phasecould not only help you plan a better project, but it could flush out some keydetails that could be lurking just off camera, especially the ones that may nothave hit you until just before “Go Live”. 8
  9. 9. Understand Project Activities Network
  10. 10. The Living Project Schedule • Project planning isn’t just an activity for the start of the project--the project plan must be a living, evolving document that is updated and changed on a regular basis. 10
  11. 11. Project Planning for Beginners • The good project manager involves their team in project planning...the great one teaches them how. 11
  12. 12. Identify & Mitigate Risks • Hidden traps often come from surprising sources, resulting in project delays or funding shortfalls. It is critical to identify all the risks up front, establish mitigation strategies and allocate ample time and budget to overcome any hurdles. How? Through effective planning, of course! 12
  13. 13. Project DiagnosisPulse check: Assess the burn rate. Are you eating up budget faster thanyou anticipated? What is the new estimated total cost?Blood pressure: Perform a risk assessment, in terms of what couldhappen between now and the go live date to cause a significant incident.Various frameworks exist for this assessment. The Six Sigma FMEA (FailureMode and Effect Analysis) template can be modified to suit your needs here,giving you an objective framework for assessing all possible places whereyour solution could fail, and steering your future corrective actions towardthose that have both the highest likelihood of occurrence and greatestcriticality.Temperature: Create a heat sheet (red yellow green) with respect to keymilestones. This should be part of your regular status report, along with somebasic trending. 13
  14. 14. Compiled by:A practitioner of Analytics, Productivity,Information Modelling, EnterpriseProjectProgramPortfolio Management &Execution Management. Jaiveer Singh, PMPProject Management Trainer focusingon MS Excel, MS Project and MS EPMproduct to improve productivity ofmanagement community. @ singhjaiveerWorking as Project/Program & Portfoliomanager for large IT projects