Project Management Fundamentals

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Project Management Fundamentals

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• Project Management Fundamentals

• Introductory concepts @ OxfordCambridge.Org all for free and free for all.• The information gathered here is under KeyPoints format and may be use:• - Either to give the reader an overview before deciding for a full scale study of the

topic.• - Or act as a study guide for learners in expanding their knowledge on that given topic.

• Some recommendations, perhaps:• - Identify each KeyPoint on which you feel a need to expand your knowledge,• - Choose a good book or academic magazine and info from the Internet.• - And then work towards gaining that knowledge, at your own pace.• Please enjoy!

KeyPoints to develop in your own time!

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Project Management Fundamentals - Aim of publication.

Give an overview of the world of project management to readers or learners who believe basic project management understanding will help them perform their job responsibilities more effectively.




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Project Management Fundamentals – Summary.

☺ In today's fast-paced business environment, successful project management has its place on the organizational hall-of-fame.

☺ All major corporations have recognized that the future of their corporate success lies in their employees' abilities to effectively manage overlapping, complex projects.

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Project Management Fundamentals - Learning Objectives. After developing the KeyPoints outlined in this publication, you should mainly be

able to: recognize the benefits of managing various elements within the project

management. perform a PEST analysis. perform a cost-benefit analysis. acknowledge match work breakdown structure levels. estimate work effort for project activities. choose the appropriate team member. determine whether to make or buy a product. calculate a project's earned revenue. identify management actions for controlling project scope creep. identify the elements of a project wrap-up report.





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*** About the Structure and Flow of our Presentations ***




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Project Management Fundamentals - Sections List. (Section 1) Project Initiation. (Section 2) Project Planning. (Section 3) Project Execution. (Section 4) Project Controlling. (Section 5) Project Closing.





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(Section 1) Project Initiation – Summary.

☺ In today's fast-paced business environment, major organizations have recognized that the future of their corporate success lies in managers' abilities to effectively manage overlapping, complex projects.

☺ With this section introduce yourself to the generally accepted knowledge and practices surrounding the field of project management and equip yourself with skills used during project initiation.




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(Section 1) Project Initiation – HighPoints. Project Management Context. Establishing Project Parameters.





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(Section 1) HighPoints: Project Management Context.

☺ recognize the benefits of being able to manage various elements within the project management context.

☺ recognize the common characteristics of project life cycle graphs.

☺ choose the graphic representation of a project life cycle that best depicts a project.

☺ identify strategies that ensure success with stakeholders.

☺ use strategies that ensure success with stakeholders.☺ match categories of organizational influences with

their effects on a project.☺ identify examples of key external influences.☺ perform a PEST analysis on a project.




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(Section 1) HighPoints: Establishing Project Parameters.

☺ recognize the benefits of establishing project parameters.

☺ label project variables as assumptions, exclusions or constraints.

☺ determine appropriate assumptions, exclusions, and constraints for a project.

☺ perform a cost-benefit analysis.☺ sequence the steps to performing a decision tree

analysis.☺ use decision tree analysis to choose the best among

project alternatives.☺ sequence the steps for obtaining sponsor signoff for a

project charter.☺ obtain sponsor sign-off for a project charter.




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(Section 2) Project Planning – Summary.

☺ One of the most crucial activities that take place during project management is planning.

☺ Projects are to fail if adequate attention is not given to planning the scope, the timing of activities, and project costs.

☺ The more complex the project, the better the plan must be.

☺ Therefore, you have to grasp the fundamental skills required to plan a project's scope, schedule, and budget.




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(Section 2) Project Planning – HighPoints. Scope Planning. Project Costing and Scheduling.





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(Section 2) HighPoints: Scope Planning.

☺ recognize the benefit of learning how to plan the scope of a project.

☺ discovery the components to be included in a project scope statement.

☺ make recommendations to ensure a scope statement effectively reflects a project.

☺ acknowledge work breakdown structure levels.




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(Section 2) HighPoints: Project Costing and Scheduling.

☺ recognize the importance of project costing and scheduling.

☺ distinguish the factors that are used to estimate work effort for project activities.

☺ estimate normalized work effort for specified activities in a project.

☺ identify key considerations for estimating activity duration.

☺ estimate activity duration for a project activity.☺ consider the types of dependencies.☺ determine the changes required in a network diagram to

reflect the activities of a project.☺ calculate early and late start and finish days for project

activity, using the critical path method.☺ determine the effect of an event on a project's schedule.☺ develop the cost baseline for a project.




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(Section 3) Project Execution – Summary.

☺ Now you've developed the perfect plan, what next?☺ The time has come to execute that plan.☺ Project execution is the phase during which the actual

work of the project is carried out.☺ A large part of the project manager's job during project

execution involves making sure the project team is functioning well, that the team has the supplies needed to do the job, and that project risks are kept to a minimum.

☺ Thus, equip yourself with the various skills that you will need during project execution.




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(Section 3) Project Execution – HighPoints Managing Your Project Team. Project Procurement. Project Risk Management.





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(Section 3) HighPoints: Managing Your Project Team.

☺ recognize the benefits of effectively managing a project team during project execution.

☺ identify the key considerations that go into selecting project team members.

☺ choose the appropriate team member for a specific project.☺ know the activities that take place during a project kick-off

meeting.☺ conduct an effective project kick-off meeting.☺ sequence the agenda items for a status review meeting.☺ conduct a status review meeting for a g project.




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(Section 3) HighPoints: Project Procurement.

☺ recognize the benefit of controlling project procurement.

☺ acknowledge key considerations for performing a make-or-buy analysis.

☺ determine whether to make or buy a product for a given project.

☺ identify the components of an effective advertisement to solicit vendors.

☺ choose the most effective advertisement for soliciting vendors for a project.

☺ calculate a score for a potential vendor.☺ organize a list of prospective vendors from the most to

the least qualified, based on an evaluation criteria.




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(Section 3) HighPoints: Project Risk Management.

☺ recognize the benefit of managing project risks.☺ consider risk severity classifications based on types of

risks.☺ determine the highest risks for a project, in line with

given risk analysis data.




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(Section 4) Project Controlling – Summary.

☺ Have you ever been involved in a project that felt more like a runaway train than an organized work effort?

☺ A project can take on a life of its own if there aren't adequate controls in place to help ensure that the project adheres to the approved planning documents.

☺ Therefore, acquire the necessary skills for effectively monitoring project performance, changes, and quality.




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(Section 4) Project Controlling – HighPoints. Reporting Project Performance. Integrating Change Control. Controlling Quality.





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(Section 4) HighPoints: Reporting Project Performance.

☺ recognize the benefits of measuring and reporting project performance.

☺ match elements of a variance analysis to their corresponding formulas.

☺ perform a variance analysis related to project performance data.

☺ identify the factors to consider when calculating earned revenue for a project.

☺ calculate a project's earned revenue for a specified reporting period.

☺ deliver appropriate progress reports to stakeholders for a specified project.




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(Section 4) HighPoints: Integrating Change Control.

☺ recognize the benefit of controlling change during a project’s life.

☺ identify management actions required to complete the steps for controlling project scope creep.

☺ apply steps for controlling scope creep.☺ identify the steps for managing corrective action.☺ match types of risks with appropriate responses to each.☺ determine the appropriate risk response for a project risk.




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(Section 4) HighPoints: Controlling Quality.

☺ recognize the benefits of managing the quality of a product.

☺ identify questions to ask during a quality identification interview with stakeholders.

☺ conduct a stakeholder interview to determine how stakeholders define quality.

☺ identify the steps for implementing corrective action to maintain quality.

☺ apply steps for implementing corrective action to maintain quality.




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(Section 5) Project Closing – Summary.

☺ Project closure is often overlooked as one of the key phases of project management, resulting in a failure to recognize or capitalize on various important things that happen during a project's final phase.

☺ It may be that the success of your next project may depend to some degree on how diligent you are in closing out your current project.

☺ For that reason, it’s crucial to learn how to carry out many key project closing activities.




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(Section 5) Section5 Here – HighPoints. Closing Processes. Project Wrap-up.





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(Section 5) HighPoints: Closing Processes.

☺ recognize the benefits of properly closing out a project.☺ identify the procedures that must be performed to

conduct a procurement audit.☺ perform a procurement audit for a specified project.☺ identify key elements of successful contract close-out.☺ close out effectively a project contract.☺ consider archiving guidelines when closing a project.




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(Section 5) HighPoints: Project Wrap-up.

☺ recognize the benefits of wrapping up a project.☺ identify the essential elements of a project wrap-up report.☺ develop a project wrap-up report designed for external

project stakeholders.☺ identify the common goals of effective internal project

wrap-up meetings.☺ conduct an internal project wrap-up meeting with a project

team.☺ identify the criteria upon which to determine the level of

success of a project.☺ determine the level of success of a specified project.




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Project Management Fundamentals – Conclusion.

☺ At this point you should be familiar with the following: recognizing the common characteristics of project life

cycle. using strategies to ensure success with stakeholders. performing a cost-benefit analysis. obtaining sponsor sign-off for a project charter. learning how to plan the scope of a project. recognizing the importance of project costing and

scheduling. calculating early and late start and finish days using the

critical path method. selecting project team members. controlling project procurement. managing project risks. controlling change during the life of a project. implementing corrective action to maintain quality. closing out properly a project.




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