Master the PMBOK Guide, Fifth Edition - 5 PDUs

Everything You Did (and didn't) Want to know about the PMBOK Guide, fifth edition from PMI
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  • Lectures 107
  • Length 11.5 hours
  • Skill Level All Levels
  • Languages English
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About This Course

Published 1/2016 English

Course Description

We are a PMI Registered Education Provider:

  • Instructingcom, LLC #4082
  • PMBOK Guide, Fifth Edition Review; Activity ID 2015086
  • 5 PDU hours

PMI’s publication A Guide to the Project Management Body of Knowledge. This is commonly called the PMBOK Guide. If you've ever tried to read the PMBOK Guide you've probably discovered that while it's informative, it's not an easy read. The PMBOK is more of a point of reference than a good read on project management.

In this course I'll walk you through the entire PMBOK - chapter-by-chapter, process-by-process. Rather than suffering through the PMBOK, let me coach you through the work. In this course we'll cover the entire PMBOK from start-to-finish.

Throughout this course I include the exact PMBOK reference of what's being discussed, so you can hop over to the PMBOK Guide for more detail, or just keep cruising along in the content. This course covers the entire PMBOK Guide, fifth edition:

  1. Purpose of the PMBOK Guide
  2. Organizational Influences and Project Life Cycle
  3. Project Management Processes
  4. Project Integration Management
  5. Project Scope Management
  6. Project Time Management
  7. Project Cost Management
  8. Project Quality Management
  9. Project Human Resource Management
  10. Project Communications Management
  11. Project Risk Management
  12. Project Procurement Management
  13. Project Stakeholder Management

This course is ideal if you're preparing for the PMP or the CAPM exam and you don't want to slog through the PMBOK Guide. Or if you're a project manager seeking a quick review on the PMBOK and want to claim five PDUs for your PMI certification.

This course is registered with PMI and is worth five Professional Development Units (PDUs).

What are the requirements?

  • A copy of the PMBOK Guide, fifth edition would make a good reference to use throughout this course, but isn't necessarily required.

What am I going to get from this course?

  • Explain the purpose of the PMBOK Guide, fifth edition
  • Define what a project is - and is not
  • Implement the 47 project management processes
  • Discuss the project life cycle and the project management life cycle
  • Compare and contrast the ten project management knowledge areas
  • Claim five Professional Development Units
  • Discuss the structure of the PMBOK Guide, fith edition

What is the target audience?

  • PMI certification holders seeking five PDUs
  • PMP and CAPM applicants seeking a review of the PMBOK Guide, fifth edition
  • Project managers wanting to explore the entire PMBOK Guide, fifth edition

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Foundations of the PMBOK Guide, fifth edition
01:21

This section address the fundamentals of the PMBOK Guide, fifth edition. We'll discuss:

  • Purpose of the PMBOK® Guide
  • What is a Project?
  • What is Project Management?
  • Relationships among Portfolio Management, Program Management, Project Management, and Organizational Project Management
  • Relationship Between Project Management, Operations Management, and Organizational Strategy
  • Business Value
  • Role of the Project Manager
  • Project Management Body of Knowledge
02:24

A Guide to the Project Management Body of Knowledge, commonly called the PMBOK Guide, addresses the 47 project management processes and the ten knowledge areas. The PMBOK Guide is a guide to generally accepted practices for project management.

02:47

A project is a temporary endeavor undertaken to create a unique product, service or result.

A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies.

02:16

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

It has always been practiced informally, but began to emerge as a distinct profession in the mid-20th century. PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide) identifies its recurring elements:

Project management processes fall into five groups:

  • Initiating
  • Planning
  • Executing
  • Monitoring and Controlling
  • Closing
07:23

Portfolio management refers to the centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives. Portfolio management focuses on ensuring that projects and programs are reviewed to prioritize resource allocation, and that the management of the portfolio is consistent with and aligned to organizational strategies.

04:26

The PMBOK Guide tells us that projects, within programs or portfolios, are a means of achieving organizational goals and objectives, often in the context of a strategic plan. Although a group of projects within a program can have discrete benefits, they can also contribute to the benefits of the program, to the objectives of the portfolio, and to the strategic plan of the organization.

01:23

Business value is the worth of the organization. It can include the total equity and assets of an entity, but in the realm of project management more likely addresses how the project will contribute to the overall value of the organization. Business value of a project addresses the business needs, opportunities, goals, and objectives that the project supports.

04:01

The project manager is the person assigned by the performing organization to achieve the project objectives. The role of a project manager is distinct from a functional manager or operations manager. Typically the functional manager is focused on providing management oversight for an administrative area, and operations managers are responsible for a facet of the core business.

00:53

Great job finishing this module on the Introduction of the PMBOK Guide. In this section we discussed:

  • Purpose of the PMBOK® Guide
  • What is a Project?
  • What is Project Management?
  • Relationships among Portfolio Management, Program Management, Project Management, and Organizational Project Management
  • Relationship Between Project Management, Operations Management, and Organizational Strategy
  • Business Value
  • Role of the Project Manager
  • Project Management Body of Knowledge
42 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 2: Organizational Influences and the Project Life Cycle
02:20

This lecture is an overview of this section on how organizational influences can affect the project success. We will discuss:

  • Organizational Influences on Project Management
  • Project Stakeholders and Governance
  • Project Team
  • Project Life Cycle
09:18

Organizational Influences on Project Management describes the factors in the performing organization that can affect the success of the project. This section addresses:

  • Project Stakeholders and Governance
  • Project Team
  • Project Life Cycle
04:59

Based on the PMBOK Guide, we know that stakeholders are persons or organizations (e.g., customers, sponsors, the performing organization, or the public), who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project. Stakeholders may also exert influence over the project, its deliverables, and the project team members. The project management team must identify both internal and external stakeholders in order to determine the project requirements and expectations of all parties involved.

03:10

The project team is the collection of resources that will do the work to achieve the project objectives. A project team is comprised of the project manager, project management team, and other team members who carry out the work but who are not necessarily involved with management of the project. This team is comprised of individuals from different groups with knowledge of a specific subject matter or with a specific skill set who carry out the work of the project.

07:12

A project life cycle is a collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organization or organizations involved in the project, the nature of the project itself, and its area of application. A life cycle can be documented with a methodology. The project life cycle can be determined or shaped by the unique aspects of the organization, industry or technology employed. While every project has a definite start and a definite end, the deliverables and activities that take place in between will vary widely with the project.

02:28

Great job finishing this section on the organizational influences and the project life cycle. In this section we discussed:

  • Organizational Influences on Project Management
  • Project Stakeholders and Governance
  • Project Team
  • Project Life Cycle
25 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 3: Project Management Processes
01:24

In Chapter Three of the PMBOK Guide, we’re introduced to process groups and the 47 processes. In this section we’ll explore:

  • Common Project Management Process Interactions
  • Project Management Process Groups
  • Initiating Process Group
  • Planning Process Group
  • Executing Process Group
  • Monitoring and Controlling Process Group
  • Closing Process Group
  • Project Information
  • Role of the Knowledge Areas
02:36

The are 47 processes that a project manager can use. The processes interact with one another as the proejct moves forward; this lecture address the common project management process interactions of:

  • Project Management Process Groups
  • Initiating Process Group
  • Planning Process Group
  • Executing Process Group
  • Monitoring and Controlling Process Group
  • Closing Process Group
02:34

The PMBOK Guide describes the 47 project management processes that a project manager and the project team use to move a project along. The goal of these processes is to have a successful project, but a project’s success is based on more than just leveraging these processes. A successful project depends on five things:

  • Using the appropriate processes at the appropriate times
  • Following a defined project management approach for execution and project control
  • Developing and implementing a solid project management plan that addresses all areas of the project
  • Conforming the project and the project management approach to the customer requirements
  • Balancing the project time, cost, scope, quality, resources, and risks while meeting the project objectives
01:46

The project manager is assigned during initiation, and the inputs from the original project initiator and/or the project sponsor are considered throughout the initiation processes. Project initiation is, of course, the first process that kicks off the project. This is exam-essential information includes:

  • Getting the project initiated
  • Developing the project charter
  • Identifying the project stakeholders
02:07

All projects - all successful projects - require project planning. Planning is an iterative process and the project manager and the project team will return to the planning phase as needed to allow the project to move forward. Planning is key to project success and includes these planning activities:

  • Developing the project management plan
  • Planning the project scope
  • Collecting project requirements
  • Defining the project scope
  • Creating the Work Breakdown Structure
  • Planning for schedule management
  • Defining the project activities
  • Sequencing the project activities
  • Estimating the activity resources
  • Estimating the activity duration
  • Developing the project schedule
  • Planning project cost management
  • Estimating the project costs
  • Planning the project budget
  • Planning for quality
  • Completing human resources planning
  • Planning for project communications
  • Planning the project risks
  • Identifying the project risks
  • Performing qualitative risk analysis
  • Performing quantitative risk analysis
  • Planning for risk responses
  • Planning procurement management
  • Planning stakeholder management
01:38

The executing processes allow the project work to be performed. They include the execution of the project plan, the execution of vendor management, and the management of the project implementation. The project manager works closely with the project team in this process group to ensure that the work is being completed and that the work results are of quality. The project manager also works with vendors to ensure that their procured work is complete, of quality, and meets the obligations of the contracts. The executing processes are all about getting the project work done. This lecture covers:

  • Directing and managing project execution
  • Performing quality assurance
  • Acquiring the project team
  • Developing the project team
  • Managing the project team
  • Managing project communications
  • Conducting project procurements
  • Managing stakeholder engagement
01:48

This process group focuses on monitoring the project work for variances, changes, and discrepancies so that corrective action can be used to ensure that the project continues to move toward its successful completion. This means lots of measuring, inspecting, and communicating with the project team to ensure that the project plan is followed, variances to the plan are reported, and responses can be expedited. While the project team does the work the project manager monitors and controls the work. This lecture details:

  • Monitoring and controlling the project work
  • Managing integrated change control
  • Validating the project scope
  • Controlling the project scope
  • Controlling the project schedule
  • Controlling the project costs
  • Performing quality control
  • Controlling communications
  • Monitoring and controlling project risk
  • Controlling project procurements
  • Controlling stakeholder engagements
03:14

This process group focuses on monitoring the project work for variances, changes, and discrepancies so that corrective action can be used to ensure that the project continues to move toward its successful completion. This means lots of measuring, inspecting, and communicating with the project team to ensure that the project plan is followed, variances to the plan are reported, and responses can be expedited. Closing process include:

  • Closing the project
  • Closing procurement
02:29

Project information describes the analyzed project data that project processes and outcomes create. Project data is the raw data that shows the facts and info about project work. Project information is then analyzed into useful project information.

02:07

The PMBOK Guide fifth edition defines the 47 processes and their distribution across the 10 project management knowledge areas. The ten knowledge areas are:

  1. Project Integration Management
  2. Project Scope Management
  3. Project Time Management
  4. Project Cost Management
  5. Project Quality Management
  6. Project Human Resources Management
  7. Project Communications Management
  8. Project Risk Management
  9. Project Procurement Management
  10. Project Stakeholder Management
01:13

Great job finishing this section – lots of information covered. As a review, we made our way through Chapter Three of the PMBOK Guide. In this section, we discussed the process groups and the 47 processes. In this section we explored:

  • Common Project Management Process Interactions
  • Project Management Process Groups
  • Initiating Process Group
  • Planning Process Group
  • Executing Process Group
  • Monitoring and Controlling Process Group
  • Closing Process Group
  • Project Information
  • Role of the Knowledge Areas
25 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 4: Project Integration Management
01:34

Project integration management is the first of ten project management knowledge areas. This unique knowledge area has six processes we’ll discuss in this section:

  • Develop Project Charter
  • Develop Project Management Plan
  • Direct and Manage Project Work
  • Monitor and Control Project Work
  • Perform Integrated Change Control
  • Close Project or Phase
04:56

The project charter, as a final reminder for your exam, is endorsed by an entity outside of the project boundaries. This person or entity has the power to authorize the project and grant the project manager the power to assign resources to the project work. The project charter should define the business needs and what the project aims to create in order to solve those business needs. You'll need to know how project charters are written. This includes:

  • Project statement of work
  • Business cases
  • Using expert judgment
  • Identifying the contents of the project charter
04:36

It's imperative for the project manager to know why a project management plan, what's included in the project management plan, and how to create the plan. This lecture defines:

  • Examining the project management plan
  • Creating project management subsidiary plans
  • Working with a Configuration Management System
  • Comparing the project plan to the project documents
05:26

The product of the project is created during these execution processes. The largest percentage of the project budget will be spent during project execution. The project manager and the project team must work together to orchestrate the timing and integration of all the project’s moving parts. A flaw in one area of the execution can have ramifications in cost and additional risk, and can cause additional flaws in other areas of the project. Once you have a plan you'll execute it. This lecture covers:

  • Executing the project work
  • Directing the project team
  • Examining the project deliverables
  • Applying project actions
03:18

As soon as a project begins, the project management monitoring and controlling processes also begin. These processes monitor all the other processes within the project to ensure they are being done according to plan, according to the performing organization’s practices, and to ensure that a limited number of defects enters the project.

  • Examining project performance
  • Tracking and monitoring project risks
  • Maintaining product information
  • Forecasting the project’s success
  • Monitoring approved changes
06:05

Changes can affect all areas of the project. Consider a change in the project scope and how it could affect the project budget, schedule, quality, human resources, communications, risks, procurement and even other stakeholders.

  • Using change control tools
  • Examining integrated change control
  • Applying configuration management
02:50

Every project manager that I know loves to close a project. There’s something rewarding about completing a project and then transferring the deliverable to the customer or project user. The closing processes always happen at the end of a project, but can also happen at the end of each phase. This includes:

  • Performing administrative closure
  • Closing the project contracts
  • Closing the project
  • Update the organizational process assets
01:19

This section focused on the first of ten project management knowledge areas, project integration management. This knowledge contains these six processes:

  • Develop Project Charter
  • Develop Project Management Plan
  • Direct and Manage Project Work
  • Monitor and Control Project Work
  • Perform Integrated Change Control
  • Close Project or Phase
30 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 5: Project Scope Management
00:58

One of the most important components of project management is scope management. You must plan, define, and control the scope throughout the project. In this section we’ll discuss these scope management processes:

  • Plan Scope Management
  • Collect Requirements
  • Define Scope
  • Create WBS
  • Validate Scope
  • Control Scope
02:48

One of the first things you’ll have to achieve in your role as the project manager of a new project is to define the project’s scope management plan. Now, your organization may rely on organizational process assets in the form of a template for all projects, but it’s possible that you’ll be creating this scope management plan from scratch. In this section, you’ll learn both approaches that you can apply to your projects and your PMI exam. This lecture includes:

  • Relying on project information
  • Using templates and forms
  • Creating the Project Scope Management Plan
  • Performing product analysis
  • Using alternative identification
  • Interviewing experts and stakeholders
08:59

The second plan that comes out of this process is the requirements management plan. While similar in nature, this plan explains how the project will collect, analyze, record, and manage the requirements throughout the project. Like the scope management plan, this plan doesn’t list the actual requirements, but sets the rules for how the project manager, team, and stakeholders will interact with the project’s requirements. This plan is also a subsidiary plan for the overall project management plan. The project requirements are defined through many tools and techniques to help document the requirements and to create a requirements traceability matrix. This lecture details:

  1. Working with stakeholders to define requirements
  2. Requirement gathering techniques
  3. Documenting and publishing requirements
  4. Creating a requirements traceability matrix
03:07

The project scope statement is one of the most important documents in the project. The scope statement process addresses:

  • Detailing the project objectives
  • Describing the product scope
  • Defining the project requirements
  • Establishing the project boundaries
  • Defining the project acceptance criteria
  • Identifying the project constraints
  • Listing the project assumptions
  • Defining the initial project organization
  • Defining the initial project risks
  • Determining the schedule milestones
  • Setting fund limitations
  • Estimating the project costs
  • Determining the project configuration management requirements
  • Identifying project specification documents
  • Documenting the project approval requirements
05:16

Project need a Work Breakdown Structure (WBS). The WBS is all about the project deliverables. It’s a breakdown of the project scope into hierarchical deliverables. The WBS takes the project scope and breaks it down into smaller, manageable chunks of deliverables. Each layer of the WBS breaks down the layer above it into smaller deliverables, until it arrives at the smallest item in the WBS, the work package. This lecture details:

  • Defining the WBS
  • Using a WBS template
  • Decomposing the project scope
  • Creating the WBS
  • Creating the WBS dictionary
  • Defining the scope baseline
03:39

Scope validation is the process of the project customer accepting the project deliverables. It happens either at the end of each project phase or as major deliverables are created. Scope validation ensures that the deliverables the project creates are in alignment with the project scope. It is concerned with the acceptance of the work. A related activity, quality control (QC), is concerned with the correctness of the work. Scope validation and QC can happen in tandem because the quality of the work contributes to scope validation. Poor quality will typically result in scope validation failure. How do you know your scope and deliverables are valid? This lecture will help you to understand:

  • Defining scope validation
  • Performing scope validation
  • Group-decision making techniques
  • Gaining project acceptance
02:55

Scope control is about protecting the project scope from change and, when change does happen, managing those changes. Ideally, all requested changes follow the scope change control system, which means that change requests must be documented. Those changes that sneak into the project scope are lumped into that project poison category of scope creep. Scope creep is, of course, bad, bad news. You must protect the project scope from changes and this lecture will help. You'll learn:

  • Establishing a change control system
  • Studying variances
  • Replanning the project work
  • Revisiting the configuration management system
00:52

In this section we discussed the processes of project scope management. These six processes are used to manage the project scope – including the creation of the project scope management plan and the WBS. In this section we discussed:

  • Plan Scope Management
  • Collect Requirements
  • Define Scope
  • Create WBS
  • Validate Scope
  • Control Scope
38 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 6: Project Time Management
01:32

Stakeholders always want to know how long the project will take to finish. You’ll have to use these seven time management processes to predict and control the duration of the project:

  • Plan Schedule Management
  • Define Activities
  • Sequence Activities
  • Estimate Activity Resources
  • Estimate Activity Durations
  • Develop Schedule
  • Control Schedule
03:32

The project management planning processes are iterative, as you know, and will happen over and over throughout the project. You and the project team—and even some key stakeholders—will work together to define the project’s schedule management plan. This will happen early in the project’s planning processes, but chances are good you’ll need to return to schedule management planning to adjust, replan, or focus on the schedule you’ve created for the project. Schedules are created and designed throughout the project. This lecture will help you to understand these concepts:

  • Examining policies and procedures
  • Working with a deadline
  • Creating the schedule based on scope
07:09

When a project is first initiated, project managers often focus immediately on the labor and activities that will be required to complete the project work. But that focus ignores the scope. In Chapter 5, I discussed the project scope and the work breakdown structure (WBS) as prerequisites to defining the project activities. Before the work actually begins you'll need to work with the project team to define the activities to schedule. This lecture covers:

  • Examining the inputs to activity definition
  • Decomposing the project work
  • Relying on project templates
  • Using rolling wave planning
  • Planning for more work
  • Examining the project activities and their attributes
07:46

Now that the activity list has been created, the activities must be arranged in a logical sequence. This process calls on the project manager and the project team to identify the logical relationships between activities, as well as the preferred relationship between those activities. Once you have the activities defined you'll need to put them in the correct order. That's what this module is all about:

  • Defining the activity relationships
  • Determining the network structure to use
  • Establishing activity dependencies
  • Applying leads and lags
03:44

Resources include materials, equipment, and people. After the project manager and the project team have worked together to determine the sequence of the activities, they now have to determine which resources are needed for each activity, as well as how much of each resource. As you can guess, resource estimating goes hand in hand with cost estimating. This lecture will define:

  • Considering the project work
  • Examining the labor availability
  • Estimating the resource need
  • Creating a resource calendar
07:24

First, you identify the activities, sequence the activities, define the resources, and then estimate durations. These processes are needed to complete the project schedule and the project duration estimate. These four processes are iterated as more information becomes available. If the proposed schedule is acceptable, the project can move forward. If the proposed schedule takes too long, the scheduler can use a few strategies to compress the project. We’ll discuss the art of scheduling in a few moments.

Activity duration estimates, like the activity list and the WBS, don’t come from the project manager—they come from the people completing the work. The estimates may also undergo progressive elaboration. In this section, we’ll examine the approach to completing activity duration estimates, the basis of these estimates, and allow for activity list updates. In order to predict when the project will end you'll need to examine project activity duration. That's what this module covers:

  • Estimating the project duration
  • Using analogous estimates
  • Using parametric estimates
  • Using three-point estimates
  • Creating a management reserve
06:13

The project manager, the project team, and possibly even the key stakeholders, will examine the inputs previously described and apply the techniques discussed in this section to create a feasible schedule for the project. The point of the project schedule is to complete the project scope in the shortest possible time without incurring exceptional costs, risks, or a loss of quality.

Creating the project schedule is part of the planning process group. It is calendar-based and relies on both the project network diagram and the accuracy of time estimates. When the project manager creates the project schedule, she’ll also reference the risk register. The identified risks and their associated responses can affect the sequence of the project work and when the project work can take place. In addition, if a risk comes to fruition, the risk event may affect the scheduling of the resources and the project completion date.

02:56

Like most things in a project, the project manager will need to work to control the schedule from slipping off its baseline. A schedule control system is a formal approach to managing changes to the project schedule. It considers the conditions, reasons, requests, costs, and risks of making changes. It includes methods of tracking changes, approval levels based on thresholds, and the documentation of approved or declined changes. The schedule control system process is part of integrated change management. This lecture will help you to understand:

  • Examining the project schedule characteristics
  • Examining the schedule baseline
  • Reporting the project progress
  • Using a schedule change control system
  • Examining schedule variances
  • Using schedule comparison bar charts
01:15

Time management is a key component of successful project management. Projects are temporary and cannot go on forever – though they can feel that way sometimes. In this section we discussed:

  • Plan Schedule Management
  • Define Activities
  • Sequence Activities
  • Estimate Activity Resources
  • Estimate Activity Durations
  • Develop Schedule
  • Control Schedule
42 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 7: Project Cost Management
00:59

Most projects have a limited amount of funds available to reach their conclusions. It’s up to the project manager to plan, estimate, and control the project costs. That’s what we’ll be discussing in this section. Specifically, we’ll discuss these four project management processes:

  • Plan Cost Management
  • Estimate Costs
  • Determine Budget
  • Control Costs
01:39

You need a plan just for project costs. You need a plan that will help you define what policies you and the project team have to adhere to in regard to costs, a plan that documents how you get to spend project money, and a plan for how cost management will happen throughout your entire project. This lecture covers:

  • Creating the cost management plan
  • Adhering to organizational policies and procedures
  • Relying on organizational process assets and enterprise environmental factors
07:30

Assuming that the project manager and the project team are working together to create the cost estimates, there are many inputs to the cost-estimating process. For your PMI exam, it would behoove you to be familiar with these inputs because these are often the supporting details for the cost estimate the project management team creates. Cost estimating uses several tools and techniques. You'll learn in this module:

  • Following the organizational process assets
  • Building a cost management plan
  • Creating an analogous estimate
  • Determining resource cost rates
  • Create a bottom-up estimate
  • Building a parametric estimate
  • Using the PMIS
  • Analyzing vendor bids
  • Considering the contingency reserve
  • Presenting the cost estimate
02:51

Now that the project estimate has been created, it’s time to create the official cost budget. Cost budgeting is really cost aggregation, which means the project manager will be assigning specific dollar amounts for each of the scheduled activities or, more likely, for each of the work packages in the WBS. The aggregation of the work package cost equates to the summary budget for the entire project. There is a difference between what was estimated and what's actually being spent on the project. This lecture defines:

  • Aggregating the project costs
  • Completing project cost reconciliation
  • Creating the project cost baseline
  • Examining the project cash flow
08:52

Once a project has been funded, it’s up to the project manager and the project team to work effectively and efficiently to control costs. This means doing the work right the first time. It also means, and this is tricky, avoiding scope creep and undocumented changes, as well as getting rid of any non-value-added activities. Basically, if the project team is adding components or features that aren’t called for in the project, they’re wasting time and money.

Cost control focuses on controlling the ability of costs to change and on how the project management team may allow or prevent cost changes from happening. When a change does occur, the project manager must document the change and the reason why it occurred and, if necessary, create a variance report. Cost control is concerned with understanding why the cost variances, both good and bad, have occurred. The “why” behind the variances allows the project manager to make appropriate decisions on future project actions. Managing cost control is an ongoing activity within a project. This lecture defines cost control, including earned value management. You'll learn:

  • Working with a cost change control system
  • Measuring project performance
  • Earned Value Management fundamentals
  • Finding project variances
  • Calculating the project performance
  • Forecasting the project performance
  • Earned Value Management formula review
00:36

It’s usually easier to get more time than to get more money. In project management, however, time is often directly linked to money as it’s one of the constraints for projects. In this section we discussed these four processes:

  • Plan Cost Management
  • Estimate Costs
  • Determine Budget
  • Control Costs
23 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 8: Project Quality Management
01:16

Quality is a conformance to requirements and a fitness for use. In this section we’ll discuss how quality is planned into a project – and not inspected into a project. We’ll be reviewing these three project quality management processes:

  • Plan Quality Management
  • Perform Quality Assurance
  • Control Quality
03:29

Quality planning is the process of first determining which quality standards are relevant to your project and then finding the best methods of adhering to those quality standards. This is a great example of project integration management, which was referred to earlier. Quality planning is core to the planning process group because each knowledge area has relevant standards that affect quality, and quality planning is integrated into each planning process. Quality can be an esoteric topic, but this lecture will help. You'll learn:

  • Defining project quality
  • Completing a cost-benefits analysis
  • Benchmarking the project
  • Performing a design of experiments
  • Determining the cost of quality
  • Creating the Quality Management Plan
  • Establishing quality metrics
  • Using quality checklists
  • Creating a Process Improvement Plan
  • Establishing a quality baseline
03:10

Quality assurance (QA) is the sum of the creation and implementation of the plans by the project manager, the project team, and management to ensure that the project meets the demands of quality. QA is not something that is done only at the end of the project, but is done before and during the project as well. Quality management is prevention-driven; you want to do the work correctly the first time. Quality Assurance is a prevention-driven activity. This lecture will explore that concept through these topics:

  • Defining QA
  • Performing a quality audit
  • Examining the project processes
  • Recommending corrective actions
03:16

This is the section of the project where the project manager and the project team have control and influence. Quality assurance (QA), for the most part, is specific to your organization, and the project manager doesn’t have much control over the QA processes—he just has to do them. Quality control (QC), on the other hand, is specific to the project manager, so the project manager has lots of activities. Quality control is an inspection-driven activity and you'll learn that concept through this lecture.

  • Performing quality control measurements
  • Creating a cause and effect diagram
  • Creating a control chart
  • Completing project flowcharting
  • Creating a histogram
  • Examining a Pareto chart
  • Creating a run chart
  • Examining a scatter diagram
  • Completing a statistical sampling
  • Inspecting the project work
  • Review defect repair
  • Quality control and lessons learned
01:16

Quality is a conformance to requirements and it is a fitness for use of what the project deliverables. In this section we discussed that concept and we discussed quality assurance, which is prevention-driven. Finally, we discussed quality control – an inspection-driven process. Here are the three processes in this knowledge area:

  • Plan Quality Management
  • Perform Quality Assurance
  • Control Quality
15 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 9: Project Human Resources Management
01:07

Project Human Resource Management includes the processes that organize, manage, and lead the project team. The project team is comprised of the people with assigned roles and responsibilities for completing the project. The type and number of project team members can change frequently as the project progresses. Project team members may also be referred to as the project’s staff. In this section we’ll discuss these four project human resources processes:

Plan Human Resource Management

Acquire Project Team

Develop Project Team

Manage Project Team

04:11

Have you noticed that every knowledge starts with a planning process? Planning is an iterative process that begins early in the project and continues through the project management life cycle. Planning for project human resources is vital to a successful project. After all, you’ve got to plan how the project work will be completed and which resources will complete that work.

When it comes to planning human resources, the project manager is aiming to plan for several facets of the project. This lecture defines the planning for HR management:

  • Defining human resource planning
  • Examining the project interfaces
  • Considering the project constraints
  • Charting the organizational structure
  • Defining the project roles and responsibilities
  • Creating the Staffing Management Plan
03:18

You need people to complete your project. But have you ever managed a project where the resources you wanted on the project were not available? Or have you managed a project where the resources you were assigned weren’t the best resources to complete the project work? Staff acquisition is the process of getting the needed resources on the project team to complete the project work. It focuses on working within the policies and procedures of the performing organization to obtain the needed resources to complete the project work. Negotiation, communication, and political savvy are the keys to getting the desired resources on the project team. Acquiring the project team includes:

  • Working with your organization
  • Managing a pre-assigned project team
  • Negotiating for project resources
  • Acquiring project resources
  • Relying on virtual project teams
04:20

The project team is developed by enhancing the competencies of the individual project team members and promoting the interaction of all the project team members. Throughout the project, the project manager will have to work to develop the project team. The project manager may have to develop an individual team member’s skills so that she can complete her assignments. The project manager will also have to work to develop the project team as a whole so that the team can work together to complete the project. The project manager can use certain tools, techniques, and approaches to develop the project team. That's what this module details:

  • Using general management skills
  • Training the project team
  • Using team building activities
  • Establishing ground rules for the project team
  • Working with non-collocated teams
  • Establishing a rewards and recognition system
  • Assessing the team performance
03:26

Now that the project manager has planned for the human resources and developed the project team, he can focus on managing the project team. This process involves tracking each team member’s performance, offering feedback, taking care of project issues, and managing those pesky change requests that can affect the project team and its work. The staffing management plan may be updated based on lessons learned and changes within the team management process. The project manager will have to manage the project team. This includes:

  • Observing and conversing with project team members
  • Completing project team appraisals
  • Resolving and managing team conflict
  • Creating an issue log
01:06

Great job finishing this section on project human resources management. This section explored the processes that a project manager must do throughout the project. Of course, enterprise environmental factors and organizational process assets may influence how the project team is acquired and managed. Here are the four processes we discussed in this section:

  • Plan Human Resource Management
  • Acquire Project Team
  • Develop Project Team
  • Manage Project Team
24 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 10: Project Communications Management
01:14

Project Communications Management includes the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information. Project managers spend the majority of their time communicating with team members and other project stakeholders, whether they are internal or external to the organization. This section addresses these three crucial project management processes:

  • Plan Communications Management
  • Manage Communications
  • Control Communications
04:49

Communication planning is actually done very early in the project planning processes. It’s essential to answer the previous questions as early as possible because their outcomes can affect the remainder of the project planning. Throughout the project, updates to communications planning are expected. Even the responses to the five project management communication questions can change as stakeholders, project team members, vendors, and other project interfaces change.. Communication is key to most of project management. This lecture defines:

  • Examining the communications model
  • Analyzing communication requirements
  • Determining the communications technology
  • Creating the Communications Management Plan
03:18

Now that the project’s communications management plan has been created, it’s time to execute it. Managing project communications is the process of ensuring that the proper stakeholders get the appropriate information when and how they need it. Essentially, it’s the implementation of the communications management plan. This plan details how the information is to be created and dispersed, and also how the dispersed information is archived. Managing project communications ensures that the right people, get the right message, at the right time, in the right modality.

  • Examining communication skills
  • Creating an Information Gathering and Retrieval System
  • Dispersing project information
  • Documenting the project’s Lessons Learned
  • Updating the organizational process assets
02:25

Throughout the project, customers and other stakeholders are going to need updates on the project performance, work status, and project information. The work performance information—the status of what’s been completed and what’s left to do—is always at the heart of performance reporting. Stakeholders want to be kept abreast of how the project is performing, but also what issues, risks, and conditions in the project have evolved.

Controlling communication is the process of following the communications management plan, distributing information, and sharing how the project is performing. Performance reporting is the process of collecting, organizing, and disseminating information on how project resources are being used to complete the project objectives. In other words, the people footing the bill and who are affected by the outcome of the project need some confirmation that things are going the way the project manager has promised. This lecture details:

  • Determining the communication method
  • Dispersing project information
  • Creating an Issue Log
01:25

Effective communication creates a bridge between diverse stakeholders involved in a project, connecting various cultural and organizational backgrounds, different levels of expertise, and various perspectives and interests in the project execution or outcome. This section discussed these three project management processes on communications:

  • Plan Communications Management
  • Manage Communications
  • Control Communications
16 pages

This lecture includes all of the slides used in this section for your reference. For your convenience, these are distributed in PDF format. You can print these slides for your personal usage, but please don't distribute these to others. Thanks!

Section 11: Project Risk Management
01:31

Risk is an uncertain event or condition that can have a negative or positive effect on the project. In this section I’ll discuss these six risk management processes:

  • Plan Risk Management
  • Identify Risks
  • Perform Qualitative Risk Analysis
  • Perform Quantitative Risk Analysis
  • Plan Risk Responses
  • Control Risks
03:30

Risk management planning is not the identification of risks or even the response to known risks within a project. Risk management planning is how the project management team will complete the risk management activities within the project. These activities really set up the project to effectively manage the five other risk management activities. Risk management planning creates the risk management plan.

By deciding the approach to each of the risk management activities before moving into them, the project management team can more effectively identify risks, complete risk analysis, and then plan risk responses. In addition, planning for risk management also allows the project management team to create a strategy for the ongoing identification and monitoring of existing risks within the project. This lecture will define all of risk management planning:

  • Defining project risk
  • Hosting a risk planning meeting
  • Creating a Risk Management Plan
06:13

Risk identification is the systematic process of combing through the project, the project plan, the work breakdown structure (WBS), and all supporting documentation to identify as many of the risks that may affect the project as possible. Remember, a risk is an uncertain event or condition that may affect the project outcome. Risks can be positive or negative. This lecture includes:

  • Reviewing project documentation
  • Identifying the project risks
  • Analyzing the project assumptions
  • Diagramming project risks
04:37

The first, and somewhat shallow, risk analysis is qualitative analysis. Qualitative risk analysis “qualifies” the risks that have been identified in the project. Specifically, qualitative risk analysis examines and prioritizes the risks based on their probability of occurring and the impact on the project if the risks do occur. Qualitative risk analysis is a broad approach to ranking risks by priority, which then guides the risk reaction process. The end result of qualitative risk analysis (once risks have been identified and prioritized) can either lead to more in-depth quantitative risk analysis or move directly into risk response planning. Qualitative risk analysis is a high-level, fast method of qualifying the risk for more analysis. This lecture will define:

  • Using a risk register
  • Creating a risk probability and impact matrix
  • Examining the data quality
  • Categorizing risks
  • Updating the risk register
02:52

Quantitative risk analysis attempts to numerically assess the probability and impact of the identified risks. It also creates an overall risk score for the project. This method is more in-depth than qualitative risk analysis and relies on several different tools to accomplish its goal.

Qualitative risk analysis typically precedes quantitative risk analysis. I like to say that qualitative analysis qualifies risks, while quantitative analysis quantifies risks. All or a portion of the identified risks in qualitative risk analysis can be examined in the quantitative analysis. The performing organization may have policies on the risk scores in qualitative analysis that require the risks to advance to the quantitative analysis. The availability of time and budget may also be a factor in determining which risks should pass through quantitative analysis. Quantitative analysis is a more time-consuming process, and is, therefore, also more expensive. This lecture will cover:

  • Gathering risk data
  • Creating a risk probability distribution
  • Modeling risk data
  • Creating a contingency reserve
  • Updating the risk register
04:28

Risk response planning is all about options and actions. It focuses on how to decrease the possibility of risks adversely affecting the project’s objectives and also on how to increase the likelihood of positive risks that can aid the project. Risk response planning assigns responsibilities to people and groups close to the risk event. Risks will increase or decrease based on the effectiveness of risk response planning. This lecture includes:

  • Determining the risk tolerance
  • Considering negative risks
  • Planning for positive risks
  • Accepting risk response
  • Creating a contingent response strategy

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Instructor Biography

Joseph Phillips, PMP, PMI-ACP, Project+, Certified Technical Trainer

Joseph Phillips has more than 15 years’ experience as a project management consultant, educator, technology consultant, business owner, and technical writer. He has consulted as a project manager for a range of businesses, including startups, hospitals, architectural firms, and manufacturers.  Joseph is passionate about helping students pass the PMP certification exam.  He has created and led both in-person and web-based seminars on project management, PMP certification, IT project management, program management, writing, business analysis, technical writing, and related topics.  Joseph has written, co-authored, or served as technical editor to more than 35 books on technology, careers, project management, and goal setting for MacMillan, McGraw-Hill, Pearson Education, and AMA Press.

Certifications:

Project Management Professional (PMP)

PMI-Agile Certified Practitioner (PMI-ACP)

CompTIA Project+ Professional

CompTIA Certified Technical Trainer+

Author of:

PMP Project Management Professional Study Guide, McGraw-Hill

CAPM/PMP All-in-One Exam Guide, McGraw-Hill

PMP Project Management Lab Book, McGraw-Hill

The Certified Technical Trainer All-in-One Exam Guide, McGraw-Hill

IT Project Management: On Track from Start to Finish, McGraw-Hill

Project Management for Small Business, American Management Association 

Software Project Management for Dummies, For Dummies Publisher

The Lifelong Project, Amazon CreateSpace

Vampire ManagementWhy Your Job Sucks, Amazon CreateSpace

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