How to Take Over an Existing Project Successfully?

As a PMP Certification holder - here's what I usually attempt to accomplish and what I propose if you want to take over an established project effectively.

·         Meet with the original account manager. 

This may or may not be helpful, depending on how far along you are in the project. The account manager who completed the transaction, on the other hand, always has some useful information on assumptions made, client needs identified, and estimates obtained and how they were derived. All of this may be beneficial, but if the project is just two-thirds complete, it is unlikely. It's your decision, and a phone call is definitely worthwhile, but don't waste too much time on this stage.

·         Meet with the PMO director or the executive manager who gave you this task.

Meet with the person who assigned you to the project one-on-one. Get as much high-level (and, if possible, detailed) knowledge transfer as possible. What caused this to happen? What is the customer's current level of satisfaction? What are the issues that remain unresolved? Include the exiting PM in this conversation if they are accessible, and obtain as much information from them as possible.

·         Peruse current, available project documentation. 

Next, gather as much current project documentation as possible. The most recent 2-3 status reports will be extremely useful, as will a thorough examination of the amended project timeline. As learned while preparing for the PMP Certification- examine the resource prediction and budget analysis data in great depth as well. If the exiting manager was inept at handling either of these, you'll have to start from zero and, more than likely, compile some historical budget data for the project so you know where it stands. This is really important information.

·         Conduct an internal team meeting. 

Meet with the internal project team to discuss the project as a whole, all outstanding issues, what the customer pain points appear to be, what caused whatever is happening on the project to happen (necessitating the PM replacement action), and what the next hot tasks are after you've gotten somewhat up to speed. To recover as much consumer confidence and happiness as possible at this moment, it's vital that you look to be in charge as much as possible before standing in front of the client.

·         Introduce yourself to the project customer and move forward. 

Finally, throw yourself in with both feet. Introduce yourself to the project client in a one-on-one call or at the next project status meeting. Hand them an updated status report and project schedule for the current week, as well as your résumé and project experience description on similar projects. The goal is to take command – and you might have to "fake it till you make it" at this point because you're still attempting to catch up, depending on how rapidly you've been asked to board.

Want to learn more insights on the same? Take on a Project Management Institute certification course today!

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5 Ways To Become A Value Added Project Manager

As understood while preparing for a Project Management Certification - for the project team, the project customer/sponsor, and senior management, there are five essential ways that the project manager may demonstrate definite value to the project.

1.     Stay out of the way. 

This one is easy to understand. Stay out of the way means doing just what is necessary to keep the project going ahead successfully. This should not be done on a regular basis. However, there are certain clients – and I've met a number of them – who don't think a high-priced project manager directing the engagement adds much value. When you have one of these customers, you must do everything you can to demonstrate value while keeping the project costs as low as feasible. When you can send simply one developer on site, don't travel. Every week, keep track of how many hours you charge to the project. Avoid having too many meetings. Keeping costs low is a must...period.

2.     Add technical oversight and effort where needed. 

If you're the project manager and have some technical abilities, utilise them to fill in the gaps wherever feasible. I was onsite with my team at a big airline customer for a software install, and because our team was tiny and our time was limited, I found myself executing data loads in between meetings. We were able to reach our deployment date thanks to it.

3.     Gain visibility for the project. 

Assume the role of your project's ambassador. Do you want to make the consumer feel more valuable? Encourage high management to participate in your project. As learned while preparing for a Project Management Institute certification - a future project status meeting attended by the CEO or another high-ranking member of your organisation will demonstrate to the client that the project is essential to your firm and that they are an important customer who is being taken seriously. If you've lately had any troubles that have resulted in consumer dissatisfaction, this can help you resolve the matter.

4.     Provide detailed budget management. 

Close budget management should be obvious, yet far too many project managers fail to do so. It's your client's money, and if you make it a priority to closely watch, reforecast, and report on it during the project, you'll ensure that your project doesn't slip too far off course financially without anybody knowing. If your client is included in the reporting process, they will see the value in that supervision and will feel much more comfortable with the project and how their money is being spent on project resources.

5.     Track risks carefully. 

This is another logical topic that is frequently neglected. Some hazards are typically discovered ahead of time and then put aside as if the procedure is complete. Instead of taking that risky option, include a risk management component in the weekly project status report. The possibility of anything unexpected bringing the project to a halt is substantially reduced if risks are continually in front of the team and the client, and even better – actually allocated to team members to keep watch of.

Want to learn more ways to become a value-added project manager? Take on professional certification courses such as PMP, CAPM, PfMP, Scrum Master Certification course etc. today!

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Best Tips To Manage Multiple Projects At Once!

As understood in project management certification– let’s take a look at these pointers for successfully managing many projects at once. 

Each project should be broken down into one hour of work every day. You have one hour to be productive, to accomplish a task, to assign responsibilities, to have a meeting...whatever it is, you have one hour to complete it. Is this something you've heard before? You know what I'm talking about if you've ever handled many projects at once. There are a lot of things you can do in an hour on a daily basis, but managing a project isn't generally one of them. But that's exactly what a lot of us are doing. To "successfully" manage a project in one-hour increments, we must be able to:

•        Stubborn

•        Ritualistic – maintain a good weekly schedule so we know where we are in terms of tasks and planned work at any given time of the week

•        An efficient and effective communicator

•        Well-organized

•        Focused on what is in front of us at that moment on a specific project's tasks in the project management software schedule, not the next project on our list

To keep everyone on the same page and on the same page, send out at least one team / client communication of a highlight or status. As understood in project management certification - the finest project managers are excellent communicators, and the most successful projects are those in which everyone is on the same page throughout the duration of the project. The PM and project team make sure this happens by sending out at least a daily project status update to everyone on the front lines of project management, including the project client. To gain the maximum collaboration and success, I believe in being as upfront with the client as possible.

Spend a portion of the hour every day allotted for the weekly status report on the weekly status report and ensure that all tasks are operating well. You, your team, and the client will be ill-prepared for a meaningful weekly project status call if the status project report is thrown together at the last minute. Make sure it's a good report - one of the best ways to achieve that is to spend a few minutes each day making sure it's ready for the status call on Thursday, for example. If it's every Thursday, have a thorough conversation with your whole project team the day before to ensure the status report is as current and accurate as possible. Then, every week, have a status call with the customer based on the project status report. Easy.

Check the project's finances on a regular basis. Most project managers, especially those who are young or inexperienced, find the financial aspect to be the most difficult. It should be rather straightforward to stay inside 10% of budget all the way to the conclusion of the engagement if you are closely controlling the budget. If you don't keep track of your project budget on a regular basis, it's all too simple for it to spiral out of control – especially if you're managing 4-5 projects. A 50% overage is nearly hard to correct, and the project is doomed to fail.

Want to learn more about the same? Take on a project manager or business analyst course today!

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Consistent delivery leads to successful projects

As understood while preparing for the Project Management Institute certification -clients want to know exactly what they're paying for. They might be a repeat customer or a new customer who heard about you or your firm through a co-worker. If they've had solid, consistent project delivery in the past, that's probably why they're reaching out to you again. And if their colleague had a positive experience with you during their own engagement, that's still another reason they want to spend their hard-earned project dollars on you, your project team, and your firm. And it takes a lot of confidence and money for some firms to invest in an expensive software or hardware implementation project.

Ensuring consistent delivery

How can we ensure that delivery is constant from one client to the next, or from one deployment to the next for the same customer? How do we ensure that they receive the same level of service every time? How can we reassure them that if we did a good job the prior time, we can do it again this time? How can we promote ourselves in a way that says, "Every time we take on a new project, we're pros who know what we're doing"?

As understood while preparing for the Project Management Institute certification -, we should be performing these five things for every client on every project as a foundation for continuous outstanding service to our consumers.

1.      Best practises should be followed. Regular measures that help your project function effectively during an engagement should not be overlooked. Weekly status meetings, weekly status reports, regular internal team meetings, and frequent budget forecasting and analysis are all core behaviours and activities that will keep your project and team on track for the long term. Make sure you're submitting amended project timelines on a frequent basis. Demonstrate that you know how to manage a project effectively.

2.      Apply what you've learnt. We'll hit snags along the way, but if we learn from them, we'll be less likely to make the same mistakes again, and we'll have a higher chance of a successful delivery next time.

3.      Allow enough time for appropriate planning. Don't forget to plan beforehand. If you do, expect a lot of reworks. And it frequently results in budget overruns, missed deadlines, and irritated consumers.

4.      Make the planning documents for the project. Don't skip those planning papers that will serve as roadmaps for strong project leadership throughout the remainder of the engagement as part of the planning phase. Risk Management Plans, Communication Plans, and Test Plans, for example, may be extremely useful as reference tools later in the project, and they convey a strong message to your project client that you are meticulous and consistent in your project planning and delivery.

5.      Tests should be well-planned. Testing is crucial to the project's success — I can't emphasise this point enough. Prepare your team properly for it, and even better, your client, because it's a critical responsibility for them as you approach deployment. Make sure your project timeline includes the necessary exam preparation work. Your customer will receive a bundle that their end user can actually use if you choose a well-tested solution.

Want to learn more about consistent delivery? Enrol in a CAPM, PMP, or  Scrum master certification training program today!

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What is the scope of a business analyst in India?

Business Analyst is one of the highest paying jobs in the management field. As a Business Analysts you get scope of working under some of the top consultancies. You can advance your skills as a business analyst with Business Analysis certification.

Who is a business analyst?

A business analyst is a professional who is skilled at analyzing the data in a way that he is able to provide real-world information. The needs of an organization are also to considered before passing on the reports to the higher authorities.

If you are an MBA in India, then Business Analyst might be a very good option for you. The popularity of Business Analytic course is increasing, thus making it to be the highest paid jobs in the field of management.

The job of a Business Analyst is not only to look after the needs of the clients and organization he is working for, but also to deliver strategies that are relevant to the problem and are delivering some solid and positive outcomes.

Key skills and role of a Business Analyst

The major key-skill of a Business Analyst is to gather information and logically evaluating it. The strategies and role of a Business Analyst is something that needs to be modified on a daily basis.

Following are the skills that a Business Analyst must possess:

1.       The utmost skill that a Business Analyst must possess is problem-solving.

2.       A Business Analyst is required to communicate with the clients or organizational members from time to time. Hence, having good communication skills is also a must.

3.       Must be able to foresee things in order to make the strategies accordingly. Must have good knowledge of where to research so that the sources are reliable enough.

4.       Not only he should possess good knowledge of existing tools but must stay updated with the upcoming technology as well.

The role of a Business Analyst:

1.       To recognize the factors those are acting as a hindrance in the growth of an organization. Not only to recognize should them but he also come up with strategies on how to get rid of them.

2.       Must be able to analyze the needs of an organization and provide solution such that those needs are being taken care of.

3.       The strategies that Business Analyst offers must provide sustainable growth to an organization.

If you want to know more about Business Analyst in detail you can get in touch with the experts. It is also ideal. You can also get Business Analysis certification.

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4 Ways to Give Your Project Customer All You’ve Got!

As a PMP and Scrum Master Certification holder - I've discovered the top four strategies to speed up a project in a crisis and boost customer satisfaction.

1. Save them money

Every consumer enjoys keeping a portion of their funds. Large-scale projects are sometimes priced at exorbitant prices. So, seek for methods to keep well inside budget or perhaps bill the project for less hours. Texas Health and Human Services hired me to lead a huge tech project to adopt a new software solution, and they decided they didn't like project management fees. They thought the $150/hour fee imposed by the professional services firm where I worked was excessive. It wasn't required - it was – but they were the client, and they were concerned about the money. As a result, I managed from afar and avoided a few of onsite visits, saving them thousands of dollars in the long run. They changed from frightened to comfortable and satisfied all of a sudden because they realised, they liked me. The project was completed effectively, and we were awarded further work from that government agency. It was a win-win situation.

2. Communicate… well and often

Not communicating project progress and challenges quickly or adequately enough is the quickest way to cause client worry. Nothing drives a project client off faster than the sensation of being kept in the dark. As learned while preparing for the PMP and Scrum Master Certification- the project manager's most crucial duty is effective and efficient communication. As learned while preparing for the If you can't communicate effectively with your project customer, project team members, and all other stakeholders, you're in the wrong profession.

3. Promote their business whenever possible

If you can manage the customer's project while also assisting them in promoting their business in some way, you're providing value to the project-client connection, which will always benefit you in terms of customer satisfaction and retention. It might be that you're displaying the project client's details on your website or blog. Perhaps it's a project-related news release. Anything you can do to increase good perceptions of the customer is a gain.

4. Be as transparent as possible

Be as transparent and honest as possible at all times. That doesn't mean you have to tell them everything that's bothering you in the first five minutes. Examine any problems that develop. Discuss with the project team and, if possible, come up with one or more viable alternatives to submit to the project customer. Obviously, I'm not talking about a long period of time. The worst-case scenario is if your customer learns of an issue from someone other than you, the project manager. If that happens, you can find yourself on the phone with your customer, sitting across from your CEO, trying to figure out what's going on. I've been there and done that. It's also not enjoyable. At the very least, come up with a proactive plan to analyse or try something promptly, and schedule a meeting or call with your customer as soon as possible.

Want to learn more about the same? Enrol in Project Management Institute certification training program today!

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Project Management:Is it a good career choice?

Project management professional is a lucrative career option, but it is also an unusual one. In fact, I haven't met many people who desire to work on projects and then retire as a project manager. I haven't seen many people chose project manager as a job because they enjoy it or want to do it for the rest of their lives. However, it is still a common job option for many people throughout their professional lives.

Many people regard a job as a project manager as a springboard to higher positions and management. Few people consider it as a viable career option. As I consider it today, there might be a variety of reasons:

1.      In many businesses, project management is not regarded a distinct field.

2.      It's possible that it's unique to the nation in which I live, or that it's a global occurrence.

3.      In most businesses, the project manager has little or no power.

4.      Rather of being a game-changer, the Project Manager is considered as a coordinating function.

How many of you will answer that all you know about project management is what I know? Is it true that firms only recruit skilled project managers and that this is the only ability they seek for? There are a few, but I can't seem to find many. One of my recent Middle Eastern clients was certain that they just wanted exceptional project managers, and it was the only expertise they wanted on the table. There are no technical or additional skills required. They've observed how a smart project manager can save time and money while also reducing mental stress.

How many companies provide project managers a roadmap to follow until they retire? Does this make sense to you? There is a plethora of project management professional educational degrees on the horizon - enterprises need it, but they haven't completely accepted it yet.

Many valid questions have been raised. However, the issue remains: "Is it a good professional choice?"

Today's industries have progressed from the "Sunrise" stage to a more "Matured" stage, with the goal of giving more bang for the buck. We'll be regarded more in the approaching years if we accomplish our jobs efficiently and correctly without making mistakes.

Furthermore, today's leaders of many companies are aware of the harsh reality that creating a miracle is God of tiny things, and so are aware of the ramifications of best practises and strategy.

Third, the economy in this region of the globe is truly improving, and there is a sense of enthusiasm about new things, whether it is entrepreneurship or infrastructure. According to PMI Certification Talent magazine's figures, 17.3 million project management positions would be generated in India and China alone by 2022.

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7 FAQs about PMI – Professional Development Units (PDUs)

The following is a list of frequently asked questions for a project management professional: 

1.      What exactly are PDUs? 

Professional Development Units are abbreviated as PDUs. PDUs are the units of measurement used in the Continuing Certification Requirements (CCR) programme to quantify your professional development. One PDU is one hour of learning or activity. 

You can sometimes earn a fraction of a PDU — the smallest unit is 0.25 PDUs for 15 minutes of activity.

2.      Is it still possible for me to earn Education PDUs the same way I used to? 

Yes. Attending PMI R.E.P. classes, attending a PMI congress, and other events, or self-directed learning are all ways to gain Education PDUs.   

3.      Is it possible to claim PDUs for a single Education activity that covers many areas of the PMI Talent Triangle? 

Yes. PDUs can be claimed for a single Education activity across several PMI Talent Triangle skill areas (Technical Project Management, Leadership, Strategic and Business Management). For example, you might claim this Education activity in the skill areas of Technical Project Management and Leadership if you read a book that offers content on approaches for project time management and negotiating with stakeholders. 

PDUs can also be earned across certifications.

4.      Can I carry over my PDUs to the following cycle? 

Yes. PDUs earned in the last year of your 3-year certification cycle that exceed the required total (e.g., 60 for project management professional) can be applied to the next cycle. PDUs obtained in the first two years of your cycle are not transferable to subsequent cycles.

5.      When can I start earning PDUs after I've earned a certification? 

As soon as you get a PMI certification, you can begin earning and reporting PDUs. PDUs for activities conducted before you earned your certification will not apply to your new certification. 

6.      Is there any documentation required for reporting PDU activities? 

To report PDUs and renew your accreditation, you don't need any supporting documents. You will be directed to submit particular information about the activity in the PDU claim form when reporting your PDUs through CCRS.

NOTE: PMI recommends you maintain a personal folder for all PDU-related documentation and keep this documentation for at least 18 months after your CCR cycle has ended. If you are randomly selected for an audit, you will need to provide this documentation.

7.      Do I need a special username or password to use CCRS?

No. You will use the same username and password that you use to access PMI.org. CCRS uses PMI single sign-on technology, which enables you to log in only once to gain access to all PMI systems and resources. Single sign-on saves time and prevents the need to remember a separate username and password to access CCRS.

Want to learn more about PMI-PDUs? Enrol in a PMI Certification training program today!

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What is your biggest challenge preparing for PMP certification?

Taking a significant step forward in your career might be difficult. It's no different when it comes to getting your Project Management certification. You can get Business analysis certification from recognized authority. While each person will experience their own set of hurdles as they work through the certification process, there are three frequent issues you'll encounter:

1.       Time to prepare for the PMP exam to earn your certification

First and foremost, let's be clear: it's not just about finding time to study for the PMP certification exam; it's also about making sure you're prepared to pass. Before receiving their certification, a person must demonstrate that they are capable of managing successful projects. As a result, the PMP certification exam must be a thorough examination of your project management skills.

There are a few actions you can take to guarantee you're devoting adequate time to exam preparation. You should be able to prepare with ease if you have the correct strategy in place and have put consideration into the preparation process. Business analyst course needs to be checked clearly.

a.       Take a multi-day prep course

A multi-day training course for the PMP test is an excellent supplement to self-study. This is a highly concentrated training course in which you will receive all of the necessary training in just four days. You may even ask your boss to sponsor this training course, which would allow you to complete it in four days.

b.       Create a study plan

The easiest method to fairly distribute your study efforts and avoid cramming for the exam at the last minute is to plan ahead of time. The easiest approach to learn a little at a time is to study for 30 minutes each day or set aside time on the weekend to study and take practice exams.

2.       Fear of failing the exam

Many people suffer from test anxiety, and while passing the PMP certification exam is a significant step forward in your career, you have nothing to fear. While there is no current information on the pass or failure rates of the PMP exam, the Project Management Institute has previously released data. PMI estimated the pass rate to be at 61 percent of exam takers in the 2006 PMP Handbook. While that was more than a decade ago, remembering that most people died back then may give you a boost of confidence. Although you may not have access to PMI's pass rates, you can inquire about the pass rates of training providers' candidates. In 2018, Project Management Academy, for example, had a 99.9% pass rate.

Business analysis certification can be obtained from recognized authorities.

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Some of the most effective Project Network Diagram techniques

As learned in PMP Certification- project management is skilled at making the complex seem easy, or at least controllable. Of course, there are a variety of techniques to attaining that goal, many of which are used throughout the life cycle of a project. 

A project network diagram is a visual representation of the process of a project. A network diagram is a graphic containing boxes showing tasks and responsibilities, as well as arrows indicating the work's timetable and order of completion. As a result, the project network diagram shows how each phase of the project's life cycle is going toward completion.

Project Network Diagram Best Practices 

Knowing what works can help you take advantage of project network diagrams' benefits while avoiding their limitations. A network diagram, for example, is a visual language that, like any other form of communication, requires the usage of widely known symbols. 

In project management, how do you draw a network diagram? 

As learned in PMP Certification- define the chronological order in which activities must be done, as well as the start and finish points of the network design. When drawing your diagram, use arrows that go from left to right. Because this is how people in the West read, the graphic should intuitively follow this pattern.

You'll want to keep the diagram as straightforward as possible. Don't overcrowd the page with arrows that cross each other, for example. In fact, any arrows used for directional purposes should be straight. The length of an arrow, on the other hand, should not be utilised to calculate the amount of time it represents. 

• Draw a rough sketch of your diagram. 

Begin by sketching out your project network diagram on a very basic level. After that, you can delete and rearrange elements until you get the most efficient network diagram possible. 

After you've finalised your final design, think about type. To bring emphasis to key portions of the diagram and make it simpler to read, different fonts might be utilised. A legend or key in the corner can also help the reader understand the content.

• Identify the Project Network Diagram's Activities 

Another tip is to organise your tasks before beginning to write. You don't want to get started on your diagram only to realise you've forgotten to include some key tasks. When tasks can't start or stop until another activity has started or stopped, they're called task dependencies. These should also be identified, and the project should be divided into phases. You can then start drawing your project's network diagram.

Need more insights on the same? Enrol in a Project Management Institute training program today!

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Project Management: Basics of Monitoring & Controlling

Projects begin and terminate by definition, as I learnt when studying for the PMP certification. For many of us, it's about putting the principles and best practises we've learned as project stakeholders into practise. On projects, each of us takes a distinct approach. Some may open the door, while others may close it; perhaps planning is your strong suit, or execution is where the action takes place.

The project environment is a thrilling place to be, especially if your firm acknowledges and promotes project management's worth. Monitoring and controls are where I've gained the most important project experience for me. My role as a Project Controller (PC) for the Landsat Data Continuity Contract (LDCC) for Science Application International Corporation (SAIC) is to administer earned value, monitor and control project scope, schedule, and budget, and integrate change control in accordance with the project management plan and contract. The Landsat Data Continuity Mission (USGS) is a development project that is part of the USGS Landsat Data Continuity Mission (LDCM).

The monitoring and controls process group is an encompassing process that lasts for the whole project, as seen in the line chart to the right, as I learnt when studying for PMP Certification. We must capture scope, derive requirements, develop a schedule, derive cost components, understand team dynamics, consider reporting requirements, inventory resources, be ever vigilant for potential risks, and most importantly, account for contract deliverables before monitoring or controlling anything on a project. The monitoring and controls process group is then wrapped around the other process groups, as seen below.

During the creation of our Resource Loaded Network (RLN) and Performance Measurement Baseline (PMB), I gained some of the most valuable experience. The RLN assisted us in identifying our key route and the risk associated with external dependencies.

The RLN is one of the PMB's components. A scope (technical) baseline, a schedule (RLN) baseline, and a cost (budget) baseline make up a PMB. To analyse project performance and create projections, an Earned Value Management System (EVMS) is employed as a monitoring and management tool. EVMS is a separate topic that might be discussed further.

The monitoring and controls process group is responsible for all parts of the project. The major purpose of a project is to produce high-quality outcomes, which we owe to our clients. It is my responsibility to serve and help project stakeholders by regularly assessing project performance in order to assure success and create accurate projections. A good monitoring and control system should be aware of previous performance, but the focus should be on the future. My key aim is to ensure that the project is properly monitored and controlled so that the entire team benefits.

Want to learn more about the same? Take on a professional certification course authorized by the Project Management Institute.

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Implementing performance metrics into business strategy

Executive managers need reports that indicate performance measurements, as I learnt when studying for the project management certification. Dashboards and scorecards are frequently used to present technical or key performance indicators in order to assess the strategy plan's health. The issue raised in this article is that most businesses have a gap between corporate strategy and day-to-day operations. As a result, businesses may evaluate performance but not control it.

Poor definition, non-tangible, not properly articulated, and measurement not focused on key drivers, according to Breakthrough Business Performance, are some of the factors that lead to strategy execution failure. Organizations are encouraged to establish a discipline that connects strategy implementation to key business activities by managing:

1)      Objectives

2)      Initiatives

3)      Resources

4)      Risks

5)      Incentives

Organizations may manage performance by aligning performance indicators, projects, resources, and risks to strategic goals, according to the notion.

Some projects are required to employ Earned Value Management (EVM) to oversee performance on large-scale, high-risk endeavours, as I learnt when studying for the project management certification. EVM is an approach that employs objective performance measurements to track progress and integrates scope, schedule, and budget. Level of effort and discrete effort are the two categories of effort that may be quantified. Administrative support, such as general project management and other overhead duties, is frequently the highest level of work. Discrete effort refers to the more concrete major drivers or objectives that must be met before the conclusion of the project.

The relevant control account managers must clearly identify the initiatives by portraying the specific goals in a work breakdown structure dictionary in a well-designed earned value management system. Some of the high-level hazards or assumptions that might affect the outcome will be stored in the dictionary. The resources are given in a foundation of estimation artefact that explains why the expenditures associated with the efforts are so high. As the basis for performance, all of the required scope, schedule, and cost artefacts are documented in a single project management plan and performance assessment baseline.

The relevant control account managers must clearly identify the initiatives by portraying the specific goals in a work breakdown structure dictionary in a well-designed earned value management system. Some of the high-level hazards or assumptions that might affect the outcome will be stored in the dictionary. The resources are given in a foundation of estimation artefact that explains why the expenditures associated with the efforts are so high. As the basis for performance, all of the required scope, schedule, and cost artefacts are documented in a single project management plan and performance assessment baseline.

Want to learn more about the same? Take on a project manager or business analyst course today!

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5 Steps to identify accurate project scope easily!

When it comes to starting a project, identifying the project scope might appear to be a simple task at first, as I learnt when studying for a PMI Certification. After all, without a clear understanding of what the project is providing, there would be no project, right?

Unfortunately, no. One of the most difficult aspects of starting a project is accurately establishing its scope. It may not appear that way at the moment. At first view, it appears to be the epitome of simplicity. But be cautious. If you get this incorrect or allow any room for interpretation, you'll be on your way to a deluge of Change Requests and, eventually, Project Failure.

Many project managers now believe that the less specific the project scope is, the better. For starters, it puts an end to all of the scope disagreements amongst project stakeholders and lets the project to get started. After all, because the project's needs haven't been established yet, it's frequently uncertain what the project can provide at the start. However, the problem is that you are merely storing up a slew of troubles for the future.

Well-intentioned corporate stakeholders, for example, have a habit of altering their opinions once the project begins. That is, they continue to expect you to offer additional features, but within the same budget and timetable. Unfortunately, because the project's scope is so broad, it's nearly hard for the Project Manager to insist on changes to the project's deliverables. Fighting against this becomes an uphill battle.

There are five actions you should take to avoid falling into that situation. These are some of the things I discovered when studying for a PMI certification:

1.       From the start, insist on adequate business stakeholder input. Yes, they will scream and kick, but if the project fails to deliver, your reputation will be on the line.

2.       Inquire of the Project's Business Stakeholders what they believe the Project is delivering. Individually, as this will reveal where the differences of opinion exist.

3.       Move down into the specifics of the deliverables after you have the high-level information. Obtain the feedback of the Business Analysts and Development Teams at this point so that you can rapidly determine what is feasible within the timeframe.

4.       Remember that the project's Out of Scope is probably much more significant than the project's In Scope. So don't forget about that.

5.       When you've finished describing the project scope, be sure you run it past the Business Stakeholders first to get their input and recommendations. Your idea has a decent probability of delivering if you get their buy-in.

Of course, there's a lot more, but following these procedures will increase your chances of not falling at the first hurdle.

Want to learn more about accurate project scope? Enrol in a project management professional certification training program today!

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Best practices to follow while delivering project value

All projects must give value to their stakeholders, especially their key stakeholders, as I learnt when studying for the PMP Certification.

Why would we do the project in the first place if we didn't have to? Value might be quantifiable at times, but it can also be qualitative at other times.

I've read various definitions of value, but for me, it's a ratio of the advantages created by an action to the entire cost. Benefits and costs clearly involve monetary indicators, but they also include everything else that affects stakeholders. Morale, risk, sustainability, general well-being, and so on are all factors to consider.

Value from what perspective?

It's also a formula that differs for each stakeholder. This is one of the reasons why it's critical to identify the main stakeholder(s) up front and understand their objectives. Something that adds value to one stakeholder could detract from the value of another. It's impossible to please everyone all of the time. It's a balancing act, and when there are opposing interests, the major stakeholders take precedence. In the end, you must give value to that key stakeholder or group of important stakeholders.

Delivering to what requirements?

In some circles, as I found while studying for the PMP Certification, meeting the requirements and completing the project on time and on budget are the only factors that determine success. You're fine if you delivered on what you promised (in a contract or otherwise).

I don't agree.

Poor requirements elicitation and/or failure to involve important stakeholders early in the project can easily result in a product that is delivered to specifications and on time/budget, but is not valuable to the key stakeholders. It is the project manager's fault when this occurs.

Systems in delivering value

I've worked with individuals who didn't consider themselves project managers, had no formal approach, yet nevertheless provided results. Perhaps they could have done a better job if they had used some sort of guiding theory to approach the project. I can tell you that the number of people who can successfully complete projects without using a system is small. The more complexity you add, the more difficult it is to deliver value.

I'm sure (hope) this will spark a lot of debate, so please share your thoughts on this project management trait in the comments!

Want to learn more about the same? Take on a Project Management Institute today!

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What do you mean by Proof of Concept?

Projects for product development can't proceed further until there's proof that a viable product can be made. That's why you'll need proof of concept (POC) to demonstrate that a business idea or project is viable. You can go for Project Management Professional.

What is a proof of concept, exactly? It may seem like a prototype or a minimal viable product, but it is neither. Later on, we'll compare those product development approaches, but first, let's define proof of concept.

What is Proof of Concept (POC)?

Proof of concept (POC) is proof obtained through a pilot project that is carried out to establish the feasibility of a product concept, business plan, or project plan. Clinical trials, for example, are used in drug development to gather proof of concept for a final product.

But a proof of concept does more than that. A proof-of-concept gathers user comments and insights from your team members, including those who might not normally contribute, reducing the likelihood of an unanticipated risk.

Benefits of using proof of concept

A proof of concept, comparable to a prototype or a lean manufacturing "minimum viable product," is a pilot study that evaluates the feasibility of your strategy before work begins.

A proof of concept (POC) demonstrates that the concepts and theories used in a project will result in a successful final product. POCs do not provide deliverables because the primary concern is the project's feasibility.

What is the main difference between concept and prototype?

While proof of concept may sound similar to prototyping, the two are distinct, and each serves a distinct purpose. The proof-of-concept is a short project that is used to test the concept. POC's main purpose is to demonstrate that a product notion is both functional and developable.

Prototyping is a vital practice as well. Prototypes are made to help people visualize how a thing will work in the real world. It demonstrates design, navigation, and layout, among other things. As a result, a proof of concept demonstrates that a product notion can be realized, whereas a prototype demonstrates how it is accomplished.

Proof of concept vs minimum viable product

A minimum viable product (MVP) is a refined version of your prototype product. Simply defined, a minimal viable product contains only the elements that your users require to get a sense of what your product is like and what it can achieve.

So, the primary distinction between a proof of concept (POC) and a minimum viable product (MVP) is that they are developed at various stages of the product development process and serve entirely different goals.

As a project manager it is mandatory to know all these things in details. If you want to know more go for PMI Certification.  

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