PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka

PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp
®®

Topics for Today’s Training
®
Project & Importance of Project Management
Relationship of Project, Program, Portfolio &
Operations Management
Key Components of Project Management
Tailoring
Project Management Business Documents

Copyright © 2018, edureka and/or its affiliates. All rights reserved.
Introduction

Why PMP® Certification?
→ Project Management
Professional (PMP)®
credential is the most
important industry-
recognized certification for
project managers
→ PMP ® credential
demonstrates that the
professional has the
experience, education and
competency to lead and
direct projects
→ Increases marketability to
employers and higher salary
→ Average Salary of PMP
Professionals is 15-20% higher
than non-certified project
managers
→ Globally
recognized and
demanded across all
industries
Certification provides
industry wide recognition
PMP®

Industries that Require Project Management Skills

Job Opportunities for PMP® Professionals
New Project Management Roles by 2020
Source: www.pmi.org

Journey Towards PMP® Certification

Training Approach
Understand PMI Approach
▪ PMI’s Philosophy: What PMI recommends to a Project Manager?
▪ What PMI expects you to know to clear the PMP exam?
✓ Understand Concepts
✓ Understand Process ITTO (Inputs, Tools & Techniques, Outputs)
✓ Discuss, Review and Quiz at end of the Module
5 Process Groups
10 Knowledge
Areas
49 Processes

About PMI®
Established in 1969
Global organization Headquartered in Pennsylvania, USA
Project Management Institute (PMI®) is a not-for-profit association
Over 500,000 members worldwide (over 171 countries)
PMI® is actively engaged in advocacy for the profession, setting professional standards, conducting
research and providing access to a wealth of information and resources
PMI® also promotes career and professional development and offers certification, networking and community
involvement opportunities
1
2
3
4
5
6

Certifications/Credentials from PMI®
NOTE: PMP, CAPM, PgMP, PfMP, PMP-ACP, PMP-SP, PMP-RMP are registered marks of the Project Management Institute, Inc.
Project Management
Professional (PMP)®
Certified Associate in
Project Management
(CAPM)®
Program Management
Professional (PgMP)®
Portfolio Management
Professional (PfMP)®
PMI® Risk Management
Professional (PMI-RMP)®
PMI® Scheduling
Professional (PMI-SP)®
PMI® Agile Certified
Practitioner (PMI-ACP)®
✓ Eligibility criteria for each of these credentials are different
✓ PMI® offers the following credentials for Project Managers:

Prerequisites for PMP®
Educational Background PM Experience PM Education
▪ High School Diploma
✓ 60+ Months
✓ 7,500+ Hours
✓ 35 Contact Hours
▪ Associate’s Degree or Global
Equivalent
▪ Bachelor’s Degree or Global
Equivalent
✓ 36+ Months
✓ 4,500+ Hours
✓ 35 Contact Hours
▪ Project duration must not overlap
▪ Experience in projects during last 8 years
▪ 20% of applications are picked up for random audit
▪ Designation during the specified project management work does not matter

PMP® Examination Pattern

PMP® Examination Fee
Educational Background PM Experience PM Education
▪ Computer-based Testing ▪ USD 405.00 ▪ USD 555.00
▪ Paper-based Testing ▪ USD 250.00 ▪ USD 400.00
▪ Re-examination Computer-based ▪ USD 275.00 ▪ USD 375.00
▪ Re-examination Paper-based ▪ USD 150.00 ▪ USD 300.00
▪ PMI Membership Fee - USD 139
▪ Membership to local PMI® Chapter – Varies from chapter to chapter ( USD 5 to USD 15)
▪ Only 3 PMP® examination attempts are allowed in one year
▪ Certified PMP®s have to earn 60 Professional Development Units (PDUs) in a three year cycle. PDUs can be earned through
multiple avenues

Additional Information
▪ For detailed information regarding the PMP® Examination, you can visit the official website:
▪ You can download the PMP Handbook from PMI Website.
Certifications Project Management Professional (PMP)® Learn More PMP Handbook
www.pmi.org

Basics of Project Management

The PMBOK® Guide – Introduction
The PMBOK® Guide identifies that subset of the project management body of knowledge that is generally
recognized as good practice. PMBOK® Guide page 2
The PMBOK® Guide is a “distilled version” of project management body of knowledge
Currently on 6th edition published in September 2017
Source of all project management processes

The PMBOK® Guide - Structure
Foundations
Project
Environment
Role Of
Project Manager
10 Knowledge
Areas
PMBOK ®
Structure
Each knowledge area now has 4 sections apart from the
process details:
Key Concepts
Trends & Emerging Practices
Tailoring
Considerations for Agile/Adaptive Environments
1
2
3
4

What is a Project?
“A project is a temporary endeavor undertaken to create a unique product, service, or result.”
Temporary
▪ Has a definite START and END
▪ END is reached when project’s objectives are
met OR need of the project does not exist OR
project is terminated
Unique
▪ Each project is different from other in
at least 1 attribute

Uses of Project
Projects Drive
Change
✓ They move an organization from one state to another to achieve some
objective(s)
✓ There may be transition states in between
Projects Initiation Context
Projects Enable Business
Value Creation
✓ Value is net quantified benefit
✓ Can be tangible or intangible
▪ Projects are initiated due to 4 main factors
✓ Meet regulatory, legal or social requirements
✓ Satisfy stakeholder requests or need
✓ Implement or change business or technological strategies and
✓ Create improve or fix products, processes or services

Examples of Project
✓ Developing a new product, service, or result
✓ Effecting a change in the structure, processes, staffing, or style of an organization
✓ Developing or acquiring a new or modified information system (hardware or software)
✓ Conducting a research effort whose outcome will be recorded
✓ Constructing a building, industrial plant, or infrastructure; or
✓ Implementing, improving or enhancing existing business processes and procedures

Importance of Project Management
“Project Management is the application of knowledge, skills, tools and techniques to meet the project
requirements.”
Effectively Managed Project
Helps individuals, groups, public or private
organizations to:
✓ Meet business objectives
✓ Satisfy stake holder expectations
✓ Increase chances of success
✓ Manage constraints
✓ Respond to risks in a timely manner
✓ Deliver the right products at the right time
✓ Manage change in a better manner
Absence of project management may result in:
▪ Failure in achieving the objectives
▪ Missed deadlines
▪ Cost overruns
▪ Poor quality
▪ Rework
▪ Unsatisfied stakeholders
▪ Loss of reputation for the organization
Poorly Managed Project

Project Management Methodology
Policies
Templates
Processes
PMBOK Guide
Guidelines
Project
Management
Methodology
The use of a methodology brings in consistency of approach
across Projects, which defines how Projects should be:
✓ Planned
✓ Monitored
✓ and controlled within an Organization

Project’s Competing Factors (Constraints)
Scope Cost Risk
Quality ResourcesTime
▪ Also called Project Constraints
▪ Project Manager has to balance the competing factors (included but not limited to) like Scope, Schedule &
Cost along with Quality
▪ It is the Project Manager‘s duty to balance and achieve these often-competing goals

Project, Program, Portfolio and OPM

Projects and Strategic Planning
▪ Projects, within Programs or Portfolio, are a means of achieving organizational goals and objectives, often in
the context of strategic plan
▪ Program and Project Management focuses on doing programs and projects the “right” way and,
▪ Portfolio Management focuses on doing the “right” programs and projects
✓ Portfolio Management aligns portfolios with organizational strategies by selecting the right programs or projects, prioritizing
the work, and providing the required resources
✓ Program Management harmonizes its program components and controls interdependencies in order to realize specified
benefits
✓ Project Management enables the achievement of organizational goals and objectives

Projects – The Larger Structure
K-12 Segment
(Learning App for School Education)
Content
Development
Class 1
Content
Class 2
Content
Application
Development
Web
Application
IoS APP
Android App
Marketing
Product
Launch
New Market
Development
Market
Research
Program to launch the app
Adding a new Line of Business in the
Organization
Project to check viability
Multiple inter-related projects
Operations focuses on ongoing production of goods/services by
optimising & transforming inputs to outputs.
Project & operations may intersect:
• When developing a new service/product
• When improving operations
• At the end of product life cycle
• At each phase closure

Project, Program and Portfolio
Multiple inter-related Projects can be in parallel, in
series, or in a combination of both. Projects are generally
dependent on each other and serve a common outcome
Program is a collection of projects that are interrelated and/or
interdependent and obtains benefits not available from
individual components
Portfolio is a collection of projects or programs and other work that are
grouped together to facilitate effective management of that work to meet
strategic business objectives
Portfolio
Program 1
Project
Project
Program 2
Project
Project
Project
Program 3
Project
Project
Project

OPM - Organizational Project Management
A framework in which a Project, Program & Portfolio Management are integrated to achieve organizational objectives
Organizational Environment
Portfolio Review and Adjustments
Strategy
Portfolio:
Value
Decisions
Program and
Projects:
Results
Delivery
Operations:
Business Value
Realization
Business Impact Analysis
Value Performance Analysis
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-4 Page 17

PMBOK® Guide Key Components
These components, when well managed, result in successful project completion
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Table 1-3 & Fig 1-5, Page 18

Project Life Cycle

Project Life Cycle
▪ A Project Life Cycle is the series of phases that a Project passes through from its initiation to its closure
▪ All projects are divided into phases
▪ A life cycle can be determined by the unique aspects of the organization, industry or technology employed
▪ A life cycle provides basic framework for managing the Project
Feasibility
Analysis
Design
Implementation
Project Lifecycle

Project Life Cycle in Different Industries
▪ There are various Project Life Cycle phases for different kinds of business. For example:
IT Software Development Construction Pharmaceuticals
▪ Requirements Gathering
▪ Analysis
▪ Design
▪ Development
▪ Testing
▪ Implementation
▪ Feasibility
▪ Planning and Design
▪ Production
▪ Turnover and Startup
▪ Discovery and screening
▪ Preclinical development
▪ Registration Workup
▪ Post submission activities

Phase to Phase Relationship
▪ There are 2 basic types of Phase to Phase relationships :
Overlapping
Sequential
Phase to Phase
Relationships
✓ A phase can only start once the previous
phase is complete
✓ A phase starts prior to completion of the
previous phase (Fast-tracking)
✓ Overlapping phase may increase risk and can
result in rework

Project vs. Product Life Cycle
▪ Product Life Cycle can generate multiple projects
▪ Project Life Cycle is divided into phases to provide better management control
▪ Phases in Product Life Cycle are generally sequential
Product
Ideation
Project Life Cycle
Initiating > planning > executing > closing
Monitoring and Controlling
Product Development
Introduction
Growth
Maturity
Decline
Retire
End of
Life
Time
Multiple Project Life Cycle during Product Life Cycle

Types of Development Lifecycle
Project lifecycle are predictive or adaptive which occur in one or more phases and include development lifecycles.
▪ Project scope, time and cost are determined in early phases of
the life cycle
▪ Also, called as waterfall life cycles
Predictive Life Cycle
▪ The detailed scope is defined and approved before the start of
iteration
▪ Also, called as agile or change-driven life cycles
Adaptive Life Cycle
▪ Combination of a predictive and an adaptive life cycle
Hybrid Life Cycle
▪ Project scope is generally determined early in the project life
cycle
▪ Iterations develop the product through a series of repeated
cycles
▪ Increments successively add to the functionality of the product
Iterative Life Cycle
▪ The deliverable is produced through a series of iterations that
successively add functionality within a predetermined time
frame
Incremental Life Cycle

Phase Gate
▪ Done at the end of a phase where project performance is compared with:
✓ Project business case
✓ Project charter
✓ Project Management plan
✓ Benefits management plan
▪ Based on which a decision is made:
✓ Continue to the next phase
✓ Continue to the next phase with modification
✓ End the project
✓ Remain in the phase, or
✓ Repeat the phase or elements of it

Project Management Processes

What is a Process?
▪ Process is a set of interrelated actions and activities to create a pre-specified product, result or service
▪ Each process is characterized by its inputs, the tools and techniques that can be applied, and the resulting
outputs
INPUTS OUTPUTS
Process
Tools and
Techniques

Tailoring
▪ Selection of appropriate processes, tools, inputs, outputs, techniques & lifecycle phases
▪ Tailoring considers projects constraints, governance, culture, customer
▪ Done by the Project Manager in a collaborative manner
▪ Organizations may tailor Project Management methods to suit them, and provide additional tailoring
guidelines for individual projects

Project Management Process Groups
▪ Process groups are NOT project phases or stages
▪ Process groups may repeat in each of the project phase
▪ Also, called as Domains of Project Management
▪ There are a total of 49 Processes mapped to 5 Process Groups, which are:
Process Group # of Processes
Initiating 2
Planning 24
Executing 10
Monitoring & Controlling 12
Closing 1

Project Management Knowledge Areas
Knowledge Area # of Processes
Project Integration Management 7
Project Scope Management 6
Project Schedule Management 6
Project Cost Management 4
Project Quality Management 3
Project Resource Management 6
Project Communications Management 3
Project Risk Management 7
Project Procurement Management 3
Project Stakeholder Management 4

Process Categories
Processes that are performed periodically as needed
✓ The Process Acquire Resources is performed as resources are needed
✓ The process Conduct Procurements is performed prior to needing the procured item
Processes that are performed continuously throughout the project
✓ The process Define Activities may occur throughout the project life cycle
✓ Many of the monitoring and control processes are ongoing from the start of the project, until it is closed out
Processes used once or at predefined points in the project
✓ The processes like Develop Project Charter and Close Project or Phase are examples

Project Management Data & Information
▪ During a project, lot of data is collected, analyzed, transformed, aggregated, shared & reported
• The raw observations and measurements identified during activities
performed to carry out the project work
• Project data are usually recorded in a Project Management Information
System (PMIS)
• The performance data collected from various controlling processes,
analyzed in context and integrated based on relationships across
areas
• The Physical or electronic representation of work performance information
compiled in project documents, which is intended to generate decisions or
raise issues, actions, or awareness
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-7 Page
27

Project Management Business Documents
▪ Project Manager ensures that project approach is aligned to need as per business documents
Project Business Documents Responsibilities
▪ Project business case & Project benefits
management plan
▪ Sponsor - develop & maintain
▪ PM - assist in aligning project plan, business case, benefits
management plan, project charter, project success measures &
organizational goals. Tailor such documents. Align to program
business case if any

Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-8 Page 30
Interrelationship of Needs Assessment and Critical Business/Project Documents

Project Business Case
▪ Based on project needs assessment
▪ Justifies the project based on evaluation criteria, economic & other analysis
▪ Usually created before project initiation (pre-project)
▪ Facilitates measure of project success
▪ Maintained throughout the project
▪ Includes recommendations to decide go/no-go of project

Information in the Business Case
▪ Business needs – Business problem or opportunity, expected value, stakeholders & scope
▪ Situational analysis
✓ Goals, root cause and gap analysis
✓ Category of situation: required, desired or optional
✓ Options or alternatives or business scenarios to consider (i) do nothing (ii) do the minimum work
possible (iii) do more than the minimum work, to address the business needs
▪ Recommendation – of an option along with its details and implementation approach
▪ Evaluation – a benefits measurement plan, including during operations after the project is over

Project Benefits Management Plan
▪ Details how & when project benefits will be delivered & measured
✓ Target benefits
✓ Strategic alignment
✓ Timeframe for realizing benefits
✓ Benefits owner
✓ Metrics
✓ Assumptions
✓ Risks
▪ Developed based on the needs assessment & business case, thus created pre-project
▪ Note that benefits may be derived post the project in operations, thus this document can remain active after
the project is closed

Project Charter and Project Management Plan
Project Charter
✓ Issued by the project sponsor
✓ Formally authorizes the PM to use organizational resources for the project
✓ Formally authorizes the existence of a project
Project Management Plan
✓ Details how the project will be executed, monitored & controlled

Project Success Measures
▪ Projects success is measured in terms of completing the project within the constraints of scope, time, cost,
quality, resources, and risk as agreed between Project Manager and Senior Management (approved)
▪ Achievement of project objectives (benefits, financial & non-financial measures, desired state change,
contract fulfilment, satisfaction, user adoption or integration into operations, quality, governance
compliance, any other measures like process related)
▪ As defined by stakeholders (what is success, how it will be measured, what can impact it)
▪ Link to organizational strategy & business results
▪ Continuous business alignment is key to success
▪ It is not just scope, cost & time

PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Ähnlich wie PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka

Ähnlich wie PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka (20)

Mehr von Edureka!

Mehr von Edureka! (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka