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PMP Certification Chapter one Summary of PMBOK
- 2. Module One: Introduction to Project Management 2
- 3. • This module will provide an overview of projects, the relationship of portfolios, programs, and projects, and discussion on the processes within project management. 3
- 4. Renewed interest in project management and its many benefits. Used on all levels of the organization and is now seen as a valuable profession. Project success relies on the knowledge, processes, skills, tools, and techniques that skilled project managers can bring to the project. 4
- 5. This course will focus on the CAPM and the PMP certifications. You complete the 3-day CAPM® course followed by an additional 2 day course to prepare you to sit the PMP® examination. This course will provide you with practice questions for the PMP® exam. 5
- 6. A unique undertaking so the approach to managing projects must be different compared to operations. Temporary endeavor and have a clearly defined start and end date. 6
- 7. Key relationship among portfolios, programs, and projects. ◦ Projects are a temporary endeavor and have a clearly defined start and end date. ◦ A program is a group of projects that are similar in scope, activities, and similar subprograms. ◦ The portfolio includes all programs, projects, and subprograms that meet the strategic objective of the organization. 7
- 8. Application of knowledge, tools, skill, and techniques to project activities in order to meet project requirements. Five distinct processes that projects go through: ◦ ◦ ◦ ◦ ◦ Initiating Planning Executing Monitoring and Controlling Closing 8
- 9. 9
- 10. Module Two: Portfolio Management, Program Management, Project Management and Organizational Project Management 10
- 11. Discuss the activities and relationship of portfolio management, program management, project management, and organization project management. Review the role projects have in strategic planning. Discuss what a project management office is and its importance. 11
- 12. Portfolio management, program management, and project management all contribute to the achievement of the strategic goals of the organisation in different ways. The various activities of these three areas all relate to the organizational project management (OPM). 12
- 13. Involves providing the application of knowledge, skills, tools, and techniques to the program in order for program requirements to be met. Purpose of program management is to provide these areas of application to the projects within the program that will produce benefits that would not be possible by managing projects individually. 13
- 14. Centralized management of one or more portfolios that will help the organization achieve its overall strategic objectives. Concerned with all projects and programs and part of the management process is to ensure that all projects and programs have the proper resource allocation and that all programs and projects are aligned and support the overall strategic objectives of the organization. 14
- 15. Projects are undertaken as a result of the following strategic considerations: ◦ ◦ ◦ ◦ ◦ ◦ ◦ Market Demand Strategic opportunity or a business need Social need Environmental considerations Customer request Technological advances Legal requirements 15
- 16. Management structure that is used to standardize projects’ processes and also allow for the sharing of resources, methodologies, tools, and techniques. The PMO can be supportive, controlling, or directive. 16
- 17. 17
- 18. Module Three Project Management Operations Management, Organisational Strategy Business Value 18
- 19. Focus on the relationship between project management, operations management, and the operational strategy. Discuss the business value and how project management can increase business value. 19
- 20. Changes in operations may result in new projects and both are related to the organisational strategy. Projects require project management skill sets and activities and operations require business process management and operations skill sets. 20
- 21. Operations and projects often interest at various points during the product life cycle. Needs of the stakeholders who perform the operations are necessary for successful project management. 21
- 22. Organizational strategy should provide the guidance and direction for all projects. If project is not aligned and conflicts with the organisational strategy, the project manager needs to document this early-on and identify a solution before the project moves forward. 22
- 23. Unique to every organization and is the value of the entire business; this includes all tangible and intangible elements. Created through effective management of ongoing operations and also projects. 23
- 24. Module Three Project Management Operations Management, Organisational Strategy Business Value 24
- 25. Module Four: Role of the Project Manager 25
- 26. Discuss the important role of the project manager. The responsibilities and competencies of the project manager are reviewed. The interpersonal skills of the project manager are discussed. 26
- 27. Person assigned by the organization to oversee and lead the project team that will ultimately be responsible for achieving the project objectives. Responsible for providing on-going support and guidance for a business unit or a certain business operation. Lead the projects and are involved in various projects throughout the organization. 27
- 29. 29
- 30. Provided an overview of projects, the relationship of portfolios, programs, and projects, and discussion on the processes within project management. Discussed the activities and relationship of portfolio management, program management, project management, and organization project management. Explored the relationship between project management, operations management, and the operational strategy. Discussed the important role, responsibilities, competencies, and required skills of the project manager. 30
Editor's Notes
- Welcome to the first Video in our summary of the PMP Project Management Book of Knowledge. To allow the information be assimilated we break each chapter into a number of modules with a video for Each module. In this section we have four modules with this video being the first o ne.
- Module One: Introduction to Project Management
- So welcome This module will provide an overview of projects, And the relationship between portfolios, programs, and projects, and discussion on the processes within project management.
- Many organizations today have a renewed interest in project management and its many benefits. Project management is used on all levels of the organization and is now seen as a valuable profession. Organizations have realized that project success relies on the knowledge, processes, skills, tools, and techniques that skilled project managers can bring to the project. The Project Management Institute (PMI) is the governing body that issues all project management certifications. The PMBOK Guide provides a foundation for common vocabulary and structure for all project managers to follow.
- There are six different types of certifications that can be obtained after completing the required coursework, field experience, and passing the exam. These include the following: Certified Associate in Project Management (CAPM) Project Management Professional (PMP) Program Management Professional (PgMP) PMI Agile Certified Practitioner (PMI-ACP) PMI Risk Management Professional (PMI-RMP) PMI Scheduling Professional (PMI-SP) This course will focus on the CAPM and the PMP certifications. In this programme you complete the 3-day CAPM® course followed by an additional 2 day course to prepare you to sit the PMP® examination. The successful completion of the PMP® examination will show employers that you are an internationally recognized project manager.
- A project is a unique undertaking so the approach to managing projects must be different compared to normal operations. Projects are a temporary endeavor and have a clearly defined start and end date. There are distinct differences between projects and the normal, daily operations of the organization. Characteristics of operations include tasks that are on-going and are usually in a continuous cycle. These operations have no end date as they are crucial to the daily functions of the organization. Operations are also repetitive and the inputs and outputs are expected and routine. There is usually nothing unique about operational tasks. Projects, on the other hand are temporary endeavors; they have a definitte beginning and end, they are also unique and involve a new undertaking for the organization and are unfamiliar ground that the organization has not explored before. Projects can include one or more individuals, one more departments, and even one or more organizations tHEY can create a variety of tangible or intangible products, deliverable, services, or results. A few examples include the following: A product can be unique to the organization and one that has never been produced before or could be an additional add-on to an existing product. IT CAN be focused on improving a service or an process for an organisation A project can be an improvement to an organization’s existing products or service lines. OR can also be results-based, such as implementation of a computer system or producing an analysis or research document. Some a examples of projects from various industries. A young couple hires a firm to design and build them a new house. A college campus upgrades its technology infrastructure to provide wireless Internet access. A Banks decides to implement a NEW Customer service computer applicatiom A group of musicians starts a company to help children develop their musical talents. A pharmaceutical company launches a new drug. A television network develops a system to allow viewers to vote for contestants and provide other feedback on programs. A government group develops a program to track child immunizations. These various examples show the diversity of projects and the importance of project management across different industries
- In project management, there is a key relationship among portfolios, programs, and projects. As we have discussed, a project is a unique undertaking so the approach to managing projects must be different compared to operations. Projects are temporary endeavors and have a clearly defined start and end date. A program is a group of projects that are similar in scope, activities, and similar subprograms. The purpose of a program is to manage the projects in a coordinated way that would not be possible from managing them individually. The portfolio includes all programs, projects, and subprograms that meet the strategic objective of the organization. Programs and projects do not need to be related in order to be in the portfolio; they only requirement is to be related to the overall strategic objective(s) of the organization.
- So What is project management? The simple definition is the management of projects. However, project management is much more than a simple definition. A more useful definition in understanding project management is the application of knowledge, tools, skill, and techniques to project activities In order to meet project requirements. As defined by the PMBOK Guide, there are five distinct processes that projects go through. These include the following: Initiating Planning Executing Monitoring and Controlling Closing During the Initiating Process, the need of the project is clearly defined. This is an important first step as the scope, budget, and timeframe will all be based on the need and expected outcome(s) of the project. In the Initiating Process, the Return on Investment Analysis is also conducted. The organization will determine if the expected outcome of the project is worth the time, cost, and resources required to complete the project . Based on this information, the organization may determine whether to move forward with the project or stop the process. If the project continues, the final step in the Initiating Process will be to begin the development of the budget. During the Planning Process, the project scope is defined, the budget is set, the timeframe is determined, and the project team is assembled. As the Planning Process moves forward, the project’s activities will be determined and the responsible project team members will be assigned their various tasks. During the Executing Process, the actual tasks and activities of the project begin to be worked on and ultimately completed. The Monitoring and Controlling Process actually takes place alongside the Executing Process. During the Monitoring and Controlling Process, the various tasks and activities that are being executed are watched for any variations in terms of scope, time, and budget from the original plans of the project. If there are variations, corrective action may be necessary to keep the project from becoming a failure. During this Process, risk management is conducted to ensure that unforeseen interferences do not derail the project. Changes are likely to occur with any project, so project managers need to assess the various situations and make the necessary changes to keep the project moving forward. The final process is the Closing Process. During the Closing Process, the project is completed and delivered to the end users. The customer will review the project to determine if all scope requirements have been met. Once approval is obtained from the end users, the project is officially completed and all project-related documents, accounts, and activities are closed-out. The final task of the project team is to complete the “lessons learned.” This is the process of assessing and communicating what went well with the project and what could be done differently in the future to make similar projects go smoother.
- So that’s for for Module 1 ,in this module we have focused on understanding what a project is and where it fits Within programmes and portfolios what our for module of this of set of 4 videos which will be with you very soon
- Module Two: Portfolio Management, Program Management, Project Management and Organizational Project Management
- Welcome to Module 2 of our summary of Chapter 1 of the PMBOK 5th addition In this module, we will be discussing the activities and relationships of portfolio management, program management, project management, and organization project management. In addition, we will look a the role projects have in strategic planning and Finally, we will discuss the project management office is and its importance.
- As we have discussed, portfolios, programs, and projects are all related and aligned by organizational strategies. In the same manner, portfolio management, program management, and project management all contribute to the achievement of the strategic goals of the organization in different ways. The various activities of these three areas all relate to the organizational project management (OPM). Organizational project management is the systematic management of projects, programs, and portfolios in alignment with the achievement of strategic goals. The PMI concept of organizational project management is based on the idea that there is a correlation between an organization's capabilities in project management, program management, and portfolio management, and the organization's effectiveness in implementing strategy.
- A program is a group of projects that are similar in scope, activities, and have similar subprograms. The purpose of a program is to manage the projects in a coordinated way that would not be possible from managing them individually. Not all projects being conducted within the organization will fall into the same program; however, programs will always have projects. Program management involves providing the application of knowledge, skills, tools, and techniques to the program in order for program requirements to be met. In addition, an important purpose of program management is to provide these areas of application to the projects within the program that will produce benefits that would not be possible by managing projects individually. Program management focuses on the co-operation between the projects to determine the optimal approach for managing them. Usually these projects are interdependent, for example having the same resource requirement, governance structure , similar strategic organizational direction, and along with this they may similar issues and change management considerations.
- Portfolio Management The portfolio includes all programs, projects, and subprograms that meet a strategic objective of the organization. Programs and projects do not need to be related in order to be in the portfolio; they only requirement is to be contribue the same overall strategic objective(s) of the organization. Portfolio management is the centralized management of one or more portfolios that will help the organization achieve its overall strategic objectives. It is concerned with all projects and programs and part of the management process is to ensure that all projects and programs have the proper resource allocation and that all programs and projects are aligned and support the overall strategic objectives of the organization.
- Now we will look at Projects and Strategic Planning Throughout this module, we have discussed the importance of aligning projects to the strategic objectives of the organization. Projects should be created to directly or indirectly assist with the achievement of these objectives. Some strategic considerations which lead to projects include Market demand – Many industries are facing a time of change and great competition. It is important for organizations to recognize the needs of the market and respond appropriately. Because of the importance of responding quickly, effectively and cost efficiently project are often initiated to address these issues or opportunities Strategic opportunity or a business need – A project may be initiated to develop new product or service in order to expand the organization, increase revenue, or solve a problem that company is encountering Social need – Projects are initiated to help a community or group of people solve issues the people may be facing. Environmental considerations – Companies today are continually looking for new ways to improve their operations to be more “environmentally friendly.” ,in some cases this may be legislation. Projects are often initiated meet this demand Customer request – Organizations are always looking for new ways to satisfy the needs and wants of the customers, So a project may be setup to meet a specific customer need Technology advances –technology continually changes as a result the products, services, and operations of the organization must be continually improved to stay in line with trends, opportunities or threats caused by these developments Legal requirements – Organizations are required to follow and meet certain legal guidelines for their industries and projects are often developed to meet these requirements.
- The Project Management Office A project management office (PMO) is a management structure that is used to standardize project processes and also allow for the sharing of resources, methodologies, tools, and techniques. The PMO can be supportive in nature. In this role, the PMO would takes on consultative role to projects by providing templates, best practices, training, access to information, and lessons learned from past projects . In the supportive role, the control level the PMO over the specific project is low The PMO can also have a controlling role. In this role, the PMO would provide support and require compliance through various means. The include having standard project management practices and methodologies, using similar templates, and forms and tools. In the controlling role, the control level the PMO has over projects is considered moderate Finally, the PMO can have the directive role. In this role, the PMO takes direct control of the projects in its remit, In the directive role, the control level the PMO over the projects’ processes is considered high. The PMO can be great benefit for the organization through sharing information, identifying and implementing common methodologies, training new project managers and project team members, and coordinating across different projects. The role of the PMO will be determined by the organization and the level of structure considered to be necessary In general Project managers are still in charge of their individual projects and PMO is concerned with establishing guidelines and providing support to all projects
- So that’s for for Module 2 , we have looked at the roles and structure of programme, projects, project portfolios Organisationa; project management and the Project management Office Watch out for Module 3 of Chapter 1 coming soon
- Module Three: Project Management, Operations Management, Organizational Strategy, and Business Value
- Welcome to Module 3 our summary of of Chapter 1 of the PMBOk 5th addition This module will focus on the relationship between project management, operations management, and the operational strategy. In addition, we discuss the business value and how project management can increase business value.
- As we discussed in module one, operations and projects have different characteristics; however, changes in operations may result in new projects and both are related to the organizational strategy. There are distinct differences between projects and the normal, daily operations of the organization. Characteristics of operations include tasks that are on-going and are usually in a continuous cycle. These operations have no end date as they are crucial to the daily functions of the organization. Operations are also repetitive and the inputs and outputs are expected and routine. There is usually nothing unique about operational tasks. Projects, on the other hand are temporary endeavors; they have a definitive beginning and end they are also unique; / they are usually a new undertaking for the organization and are usually on unfamiliar ground for the organisatiomm Projects require project management skill sets and activities while operations require business process management and operational skill sets.
- Even though operations and projects have different characteristics, changes in operations can often lead to new project opportunities. Also Operations and projects often intersect at various points during the product life cycle. While operations management is outside the scope of project management; the needs of the stakeholders who perform the operations are must be considered for a project to be successful, As most projects will have material and often significant effect in day to day operations, during and after the project So It is important to have the operational stakeholders engaged in the process , especially during the planning phase, to ensure that their needs and expectations taken into account
- As we have discussed, operational units are concerned and tasked with setting the purpose, expectations, and overall strategic objectives for the organization. Project management activities are aligned with these same objectives and projects are initiated as a means of reaching these organizational goals. It is essential for projects to be aligned with the overall strategic goals of the organization in order for the projects to be successful. Organizational strategy should provide the guidance and direction for all projects. If a project is not aligned and conflicts with the organizational strategy, the project manager must identify and communicate this early-on and ensure the conflict is resolved Organizations often develop separate or subsidiary project-based organizations ™(PBOs). Project-based organizations are organizational forms that are used to create temporary systems of structure. Many times PBOs are used to eliminate various levels of hierarchy to facilitate faster decision-making and quicker results. PBOs conduct the majority of their work as projects and do not provide functional support to the greater organization.
- Business value is unique to every organization and is the value of the entire business; including tangible and intangible elements. Value can be created through effective management of on-going operations and also projects. With the effective use of portfolio management, program management, and project management, organizations have the opportunity to meet strategic objectives and obtain greater business value from their project investments.
- That’s the end of Module 3 of our Summary of Chapter 1 of the PMBOK 5th addition, We have looked at how project managament and operations management intersect with organisational strategy And outlined the concept of Business value Watch our for the fourth and final module coming soon!
- Welcome to the 4th and final video covering chapter 1 of the PMPBOK
- In this final module, we will discuss the important role of the project manager. The responsibilities and competencies of the project manager are reviewed in addition interpersonal skills required project manager are discussed.
- The project manager is the person assigned by the organization to oversee and lead the project team that will ultimately be responsible for achieving the project objectives. In some organizations, there is one project manager responsible for the project management department While In other less structured organisation various people may be assigned the role of project manager. The role of the project manager differs from operational managers and functional managers. These managers are responsible for providing on-going support and guidance for a business unit or a certain business operation. While Project managers lead specific projects and are often involved in various projects throughout the organization. The project manager often works closely with functional managers to implement projects that meet their needs and help them in performing their tasks.
- Project managers have a great responsibility in terms of satisfying the needs of the task, the team, and the individuals on the team. The project manager becomes the link between the organizational strategy and the team, and they are responsible for providing the knowledge, tools and techniques necessary for project success. In addition, project managers must have the following competencies in order to deliver effective project management: Knowledge – Understanding projects and how to manage them in terms of scope, budget, resources, time, and constraints Performance – This is the ability of the project manager to perform the task required for their role. Performance may also measures the success or failure of all projects the manager oversees. Personal – this Refers to the behaviors the manager displays while performing the project or related activities. Personal effectiveness involves having leadership skills, people skills, and providing guidance for the entire project team.
- Interpersonal skills are very important to be en effective project manager Project managers are responsible for working with a variety of key stakeholders during the project duration. Effective project managers are able to balance ethical, interpersonal, and conceptual skills that will guide them throughout the project and the different situations that they will face. There are several important interpersonal skills that project managers should possess; including the following: People skills Leadership Listening Integrity, ethical behavior, and consistency Strong at building trust Verbal communication Building team cohesiveness Conflict resolution And Critical thinking and problem-solving
- We have no reached the end of the 4th and final vide for chapter 1 of the PMBOK In these four modules, you have been provided with an overview of projects, the relationship between portfolios, programs, and projects, And a discussion on the processes within project management . In addition, we discussed the activities and relationship of portfolio management, program management, project management, and organization project management . Next, we explored the relationship between project management, operations management, and the operational strategy. And Finally, we discussed the important role, responsibilities, competencies, and required skills of the project manager.