Have you thought about taking the PMP exam? Want to get your project management certification? What’s holding you back? Is it time? Is it money? Don’t know where to start? PMP Exam Prep: PMI Registered Education Provider The PMP designation is awarded to qualified individuals by the PMI (Project Management Institute). In order to become a certified project … [Read more...]
Earned Value is a method used by project managers to calculate the current project status and predict future project performance. In this post we will outline each earned value formula. Planned Value (PV) Earned Value (EV) Actual Cost (AC) Schedule Variance (SV) Schedule Performance Index (SPI) Cost Variance (CV) Cost Performance Index (CPI) … [Read more...]
A single poor quality deliverable can create not only a problem with the customer, but an internal cycle of low performance whereby an environment is created where project quality is not valued as it should be. Project team members then get into the habit of avoiding the extra effort to produce top quality products. In the Project Management Body of Knowledge (PMBOK), … [Read more...]
The Project Management Institute (PMI) defines project management as follows: The application of knowledge, skills, tools, and techniques to project activities to meet project requirements. The profession of project management includes the application of many skills, which include: Dividing the project into tasks Creating schedules (deadlines) Estimating … [Read more...]
The Project Management Institute's (PMI) definition of a project is considered by many to be the official definition: A temporary endeavor undertaken to create a unique product, service, or result. Two words within that definition are the key to understanding what a project is and isn't: Temporary: A project has a distinct beginning and end. The muddier these … [Read more...]
In this first out of five project management processes, the project is created and defined to the extent necessary to begin planning the project. This step involves the project setup, and ensures that the performing organization is clear about the purposes and priorities surrounding the project. There are usually certain issues that require setup, like funding or … [Read more...]
The project sponsor is an integral part of the project management organizational chart. In fact, every project has a sponsor in one form or another. It is a central cog in the wheel in the existence of a project. The project sponsor is NOT a personal financial contributor to the project. Think of it this way. They are one, and only one, level above the project … [Read more...]
Like many things in life, project management is an art form as well as a science. But fortunately also like most things in life, a strong knowledge of the science helps you practice the art form with considerably more skill. Some people are naturally good at the art side of things, and if that's you then excellent. But even it's not I believe that most people can become … [Read more...]
Scope management, or rather the lack of it, is one of the biggest reasons for project failure. Correctly defining what is and is not included in the project is absolutely foundational to good project management. I've seen many projects go south even though they had the right expertise, schedule, high quality deliverables, and even satisfied clients. But if the dreaded … [Read more...]
Once the tasks within the project have been defined, the resources required by each task must be determined. To do this, we consult the PMBOK's Estimate Activity Resources process. PMBOK, 5th Edition, Section 6.4, "Estimate Activity Resources" Estimate Activity Resources is the process of estimating the type and quantities of material, human resources, equipment, … [Read more...]
