** PMP® Training: https://www.edureka.co/pmp ** This Edureka video on Project Management Tutorial will give you a complete insight of the fundamentals of Project Management along with its various phases and methodologies. This video will help you to learn following topics: 1. What is a Project? 2. Project Management 3. Advantages of Project Management 4. Skills Required for Project Manager 5. Project Management Phases 6. Project Knowledge Areas & Processes 7. Project Management Methodologies

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Topics For Today’s Discussion
What Is A Project?
Project Management
Advantages of Project Management
Skills Required For Project Manager
Project Management Phases
Project Knowledge Areas & Processes
PM Methodologies

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What Is A Project?

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What is a Project?
Timeline
Project has a fixed
timeline with definite
start and end points
PROJECT

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What is a Project?
Timeline
Project has a fixed
timeline with definite
start and end points
PROJECT
Resources
Project has defined
and limited resources

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What is a Project?
Timeline
Project has a fixed
timeline with definite
start and end points
PROJECT
Resources
Project has defined
and limited resources
Tools
Special tools and techniques
are used for Project
Management

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What is a Project?
Timeline
Project has a fixed
timeline with definite
start and end points
Resources
Project has defined
and limited resources
Tools
Special tools and techniques
are used for Project
Management
Team
Project needs a diverse team
stretching across departments
& functions
PROJECT

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Project
Why Project starts?

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Project
Why Project starts?
Demand in market
Strategic Opportunity
Customer Requirement
Technology Advancement
Legal Requirement

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Project
Why Project starts?
Demand in market
Strategic Opportunity
Customer Requirement
Technology Advancement
Legal Requirement
Why Project ends?

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Project
Why Project starts?
Why Project ends?
Demand in market
Strategic Opportunity
Customer Requirement
Technology Advancement
Legal Requirement
Objectives are acquired
Objectives won’t be/ can’t be met

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Projects vs Operations
Projects
Operation
Operations
▪ Projects are temporary endeavour ▪ Operations are routine activities
▪ Tasks are unique to a project ▪ Tasks are repetitive and cyclical
▪ Purpose is to achieve a unique goal ▪ Purpose is to sustain the business
▪ Projects have definite start and end ▪ Operations are on-going processes

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Project Management

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Project Management
❑ Application of processes, methods,
knowledge, skills and experience to
achieve objectives of a unique project is
known as Project Management
❑ It helps in properly carrying out all the
processes involved, starting from the
conception till the completion of the
project

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erformancerojectoorreventslanning
6 P’s of Project Management
roper

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Project Management Diamond
Quality
Time
Cost Scope
Expectations
Time
Cost Quality
Scope
Traditional Triple Constraints of Project
Management
Project Management Diamond

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Advantages Of Project Management

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Advantages
Better Efficiency
1
Increases Customer Satisfaction
2
Enhanced Efficacy
3
Better Team Work
4
Greater Competitive Edge
5
Service Expansion
6
Improves Flexibility
7
Effective Risk Management
8
Enhanced Quantity
9
Improved Quality
10

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Skills Required For Project Manager

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Skills Required
Communication Negotiation
Leadership Personal Organization
Team Management Risk Management

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Project Management Phases

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Project Management Phases
01 03 05
02 04
Initiation
Phase
Execution
Phase
Closing
Phase
Planning
Phase
Monitor &
Control Phase
In this phase, a decision making
team will identify if the project
can realistically be completed
In this phase, a team should
prioritize the project, calculate a
budget and schedule, and
determine what resources are
needed
In this phase, resources' tasks
are distributed and teams are
informed of responsibilities
In this phase, an evaluation is
done to highlight the project
success and/or learn from
project history
In this phase, the project
managers adjust the schedules
and do what is necessary to
keep the project on track

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Project Management Phases
01
05
02
04
Initiation
Phase
Closing
Phase
Monitor &
Control
Phase
03
Execution
Phase
Planning
Phase
Activities involved In this phase
Well Defined Scope Statement
Identification Of Project Stakeholders
Ensuring Resource Availability

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Project Management Phases
01
05
02
04
Initiation
Phase
Closing
Phase
Monitor &
Control
Phase
03
Execution
Phase
Planning
Phase
S M A R T
C L E A R
Specific Measurable Attainable Realistic Timely
Collaborative Limited Emotional Appreciable Refinable
Popular methods for setting goals

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Project Management Phases
01
05
02
04
Initiation
Phase
Closing
Phase
Monitor &
Control
Phase
03
Execution
Phase
Planning
Phase
Tasks to be completed during the Execution Phase
✓ Develop team
✓ Assign resources
✓ Execute project management plans
✓ Procurement management if needed
✓ PM directs and manages project execution
✓ Set up tracking systems
✓ Task assignments are executed
✓ Status meetings
✓ Update project schedule
✓ Modify project plans as needed

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Project Management Phases
01
05
02
04
Initiation
Phase
Closing
Phase
Monitor &
Control
Phase
03
Execution
Phase
Planning
Phase
5 KPIs to measure project performance
01
02 04
03 05
Project
Objectives
Quality
Deliverables
Cost
Tracking
Effort
Tracking
Project
Performance

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Project Management Phases
01
05
02
04
Initiation
Phase
Closing
Phase
Monitor &
Control
Phase
03
Execution
Phase
Planning
Phase
Processes in this phase
Scope
Verification
Contract
Close Out
Project
Closure

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Knowledge Areas And Processes

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Knowledge Areas And Processes
Project
Management

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Project Management Methodologies

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Project Management Methodologies
01 03 05 07 09
02 04 06 08 10
Agile Scrum New Product
Integration
Kanban DMAIC
Outcome
Mapping
Six SigmaPRINCE2Rapid Application
Development
Waterfall