Hi Everyone - We just opened the registrations to LIG again (only for a limited time) https://goo.gl/nJGbQo - If you are unemployed, underemployed, or a have a job interview soon, you don't want to miss this opportunity. _________________________________________________________________ Welcome to this week's episode where I make project management simple for you. To make it applicable to the majority of the audience, I am teaching Project Management Institute's (PMI) project management framework. ________________________________________________ Textbooks and frameworks are always boring. So, to make project management more interesting for you, I ran a project to demonstrate what steps to take and when. You won't regret spending 50 minutes to learn the basics of a wonderful practice called project management. You can also download all the templates I used in the session here (no need to register); https://thecareermastery.com/career-tips/project-management-simplified/ Although I strongly recommend you watch the entire session without skipping, for those of you who are just looking for snippets of information, you may find below the index of the video; 03:03 What is a project, program, and portfolio and how are they different from operations? 04:08 Project = Project Life Cycle + Project Management Process 04:43 Project Life Cycle 06:52 Process Groups 09:27 LIG, PMP certification or CAPM certification, which one is right for you? [Hint: I am biased!] 11:53 Process Groups - Initiation 13:06 Process Groups - Initiation - Project Charter 16:50 Process Groups - Initiation - Stakeholder Identification 18:17 Process Groups - Planning 20:30 Process Groups - Planning - Collecting Requirements 22:45 Process Groups - Planning - Defining the Scope 24:41 Process Groups - Planning - Scope Baseline 25:12 Process Groups - Planning - Work Breakdown Structure (WBS) 32:22 Process Groups - Planning - WBS Dictionary & Scope Creep 34:39 Process Groups - Planning - Time Management / Developing a Schedule 36:00 Process Groups - Planning - Gantt Chart 37:38 Process Groups - Planning - Fast Tracking a Project & Project Crashing 38:52 Process Groups - Planning - Cost Management 39:42 Process Groups - Planning - Budget development (for PMP or CAPM takers) 41:02 Process Groups - Executing 42:04 Process Groups - Executing - Gold Plating 43:16 Process Groups - Monitoring and Controlling 45:00 Process Groups - Monitoring and Controlling - Earned Value 47:57 Process Groups - Closing Process Group _______________________________________________________________ What is even a project? It definitely has a sexy tone to it right? Project… I just love the way it sounds. I wonder how cool it must sound in French. Proje… Well, project is a temporary endeavor to create a unique solution. Yeah that’s operations. No Well, the difference between a project and operations is fairly simple. A project ends. So, it’s temporary. You implement your project, you close it, you create a unique product/service/ or whatever outcome you wanted then you are done. Whereas in operations, it’s on-going and repetitive. You may have also heard about the terms program and portfolio. Let me just quickly explain them here. Program is multiple projects put together. Combined. And Portfolio is similarly. Multiple programs put together. So, it’s project, program, portfolio. Now before I go further, and dive deep. You need to understand something crucial. To run any project, you need 2 methodologies. The first one is a project life cycle and the second one is project management process. Most people confuse these 2. And if these are not clear, you can kiss the PMP certification goodbye. It’s absolutely amazing how many content creators in YouTube confuse these two. They are not interchangeable. You cannot afford to confuse a project life cycle with a project management process. Don’t worry I am going to make it very simple for you. Let’s start with Project Life Cycle. Project Life Cycle is unique to a project, to an industry, to your needs. It’s highly customizable. Think of it like this; a human development is a project. So, your life cycle is; 1) Conceiving 2) Birth 3) Childhood 4) Teenage hood. Teenage hood. Is that a word? Teenaging? 5) Adulthood 6) And death Easy stuff right? So, now if it was an IT project. I am not an IT but it would like something like this; High-level design Detailed Design Coding Testing Installation And Turnover This is project life cycle. The term cycle is a bit confusing here. Because, after you die, you don’t get to be conceived again and be born again. I think. But who knows. Or once you hand over the product to the client, you don’t get to design it again. So, it’s not actually a cycle. It’s a sequential steps of various phases of a project. A project life cycle may have 1 phase or multiple phases like the examples I gave earlier. There is no single way to define the ideal structure for a project.

• published: 13 Jun 2017
• views: 40865