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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.
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.
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;
4) Teenage hood. Teenage hood. Is that a word? Teenaging?
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;
This is project life cycle.
The term cycle is a bit confusing here. I think. But who knows.
This video covers;
project management institute
pmp project management professional certification
project life cycle
project management PMI
managing a project
project management fundamentals
fundamentals of project management
project management for beginners
project management course