PMP® Training Video | PMBOK® Guide Sixth Edition Training | PMP® Certification Exam Training | Edureka

1. ® ® PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

2. Topics for Today’s Training Project & Importance of Project Management Relationship of Project, Program, Portfolio & Operations Management ® Key Components of Project Management Tailoring Project Management Business Documents PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

3. Introduction Copyright © 2018, edureka and/or its affiliates. All rights reserved.

4. Why PMP® Certification? → Project Management → PMP ® credential Professional (PMP)® demonstrates that the credential is the most professional has the important industry- experience, education and recognized certification for competency to lead and project managers direct projects PMP® Certification provides industry wide recognition → Increases marketability to → Globally employers and higher salary recognized and → Average Salary of PMP demanded across all Professionals is 15-20% higher industries than non-certified project managers PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

5. Industries that Require Project Management Skills PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

6. Job Opportunities for PMP®Professionals New Project Management Roles by 2020 Source: www.pmi.org PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

7. Journey Towards PMP®Certification PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

8. Training Approach Understand PMI Approach ▪ PMI’s Philosophy: What PMI recommends to a Project Manager? ▪ What PMI expects you to know to clear the PMP exam? 10 Knowledge Areas 5 Process Groups 49 Processes Understand Concepts Understand Process ITTO (Inputs, Tools & Techniques, Outputs) Discuss, Review and Quiz at end of the Module ✓ ✓ ✓ PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

9. About PMI® 1 Established in 1969 2 Global organization Headquartered in Pennsylvania, USA 3 Project Management Institute (PMI®) is a not-for-profit association 4 Over 500,000 members worldwide (over 171 countries) 5 PMI® is actively engaged in advocacy for the profession, setting professional standards, conducting research and providing access to a wealth of information and resources 6 PMI® also promotes career and professional development and offers certification, networking and community involvement opportunities PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

10. Certifications/Credentials from PMI® ✓ PMI® offers the following credentials for Project Managers: Project Management Professional (PMP)® Certified Associate in Project Management (CAPM)® Program Management Professional (PgMP)® Portfolio Management Professional (PfMP)® PMI® Agile Certified Practitioner (PMI-ACP)® PMI® Scheduling Professional (PMI-SP)® PMI® Risk Management Professional (PMI-RMP)® ✓ Eligibility criteria for each of these credentials are different NOTE: PMP, CAPM, PgMP, PfMP, PMP-ACP, PMP-SP, PMP-RMP are registered marks of the Project Management Institute, Inc. PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

11. Prerequisites for PMP® Educational Background PM Experience PM Education ▪ High School Diploma ✓ 60+ Months ✓ 7,500+ Hours ✓ 35 Contact Hours ▪ Associate’s Degree or Global Equivalent ✓ 36+ Months ✓ 4,500+ Hours ▪ Bachelor’s Degree or Global Equivalent ✓ 35 Contact Hours Project duration must not overlap ▪ Experience in projects during last 8 years ▪ 20% of applications are picked up for random audit ▪ Designation during the specified project management work does not matter ▪ PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

12. PMP®Examination Pattern PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

13. PMP®Examination Fee Educational Background PM Experience PM Education ▪ Computer-based Testing ▪ USD 405.00 ▪ USD 555.00 ▪ Paper-based Testing ▪ USD 250.00 ▪ USD 400.00 ▪ Re-examination Computer-based ▪ USD 275.00 ▪ USD 375.00 ▪ Re-examination Paper-based ▪ USD 150.00 ▪ USD 300.00 PMI Membership Fee - USD 139 ▪ Membership to local PMI® Chapter – Varies from chapter to chapter ( USD 5 to USD 15) ▪ Only 3 PMP® examination attempts are allowed in one year ▪ Certified PMP®s have to earn 60 Professional Development Units (PDUs) in a three year cycle. PDUs can be earned through multiple avenues ▪ PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

14. Additional Information ▪ For detailed information regarding the PMP® Examination, you can visit the official website: www.pmi.org ▪ You can download the PMP Handbook from PMI Website. Certifications Project Management Professional (PMP)® Learn More PMP Handbook PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

15. Basics of Project Management Copyright © 2018, edureka and/or its affiliates. All rights reserved.

16. The PMBOK®Guide – Introduction The PMBOK®Guide identifies that subset of the project management body of knowledge that is generally recognized as good practice. PMBOK® Guide page 2 The PMBOK® Guide is a “distilled version” of project management body of knowledge Currently on 6th edition published in September 2017 Source of all project management processes PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

17. The PMBOK® Guide - Structure Each knowledge area now has 4 sections apart from the process details: 1 2 3 4 Project Environment Foundations Key Concepts PMBOK® Structure Trends & Emerging Practices Tailoring Role Of 10 Knowledge Areas Project Manager Considerations for Agile/Adaptive Environments PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

18. What is a Project? “A project is a temporary endeavor undertaken to create a unique product, service, or result.” Unique Temporary Has a definite START and END ▪ Each project is different from other in at least 1 attribute ▪ END is reached when project’s objectives are met OR need of the project does not exist OR project is terminated ▪ PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

19. Uses of Project They move an organization from one state to another to achieve some objective(s) ✓ Projects Drive Change There may be transition states in between ✓ ✓ Value is net quantified benefit Projects Enable Business Value Creation ✓ Can be tangible or intangible Projects are initiated due to 4 main factors ▪ ✓ Meet regulatory, legal or social requirements Projects Initiation Context ✓ Satisfy stakeholder requests or need ✓ Implement or change business or technological strategies and ✓ Create improve or fix products, processes or services PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

20. Examples of Project ✓ Developing a new product, service, or result ✓ Effecting a change in the structure, processes, staffing, or style of an organization ✓ Developing or acquiring a new or modified information system (hardware or software) ✓ Conducting a research effort whose outcome will be recorded ✓ Constructing a building, industrial plant, or infrastructure; or ✓ Implementing, improving or enhancing existing business processes and procedures PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

21. Importance of Project Management “Project Management is the application of knowledge, skills, tools and techniques to meet the project requirements.” Poorly Managed Project Effectively Managed Project Absence of project management may result in: Helps individuals, groups, public or private organizations to: ✓ Meet business objectives ✓ Satisfy stake holder expectations ✓ Increase chances of success ✓ Manage constraints ✓ Respond to risks in a timely manner ✓ Deliver the right products at the right time ✓ Manage change in a better manner ▪ ▪ ▪ ▪ ▪ ▪ ▪ Failure in achieving the objectives Missed deadlines Cost overruns Poor quality Rework Unsatisfied stakeholders Loss of reputation for the organization PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

22. Project Management Methodology Templates Policies The use of a methodology brings in consistency of approach across Projects, which defines how Projects should be: ✓ Planned Project Management Methodology Guidelines ✓ Monitored ✓ and controlled within an Organization Processes PMBOK Guide PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

23. Project’s Competing Factors (Constraints) ▪ Also called Project Constraints ▪ Project Manager has to balance the competing factors (included but not limited to) like Scope, Schedule & Cost along with Quality ▪ It is the Project Manager‘s duty to balance and achieve these often-competing goals Cost Risk Scope Resources Quality Time PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

24. Project, Program, Portfolio and OPM Copyright © 2018, edureka and/or its affiliates. All rights reserved.

25. Projects and Strategic Planning ▪ Projects, within Programs or Portfolio, are a means of achieving organizational goals and objectives, often in the context of strategic plan ▪ Program and Project Management focuses on doing programs and projects the “right” way and, ▪ Portfolio Management focuses on doing the “right” programs and projects ✓ Portfolio Management aligns portfolios with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the required resources ✓ Program Management harmonizes its program components and controls interdependencies in order to realize specified benefits ✓ Project Management enables the achievement of organizational goals and objectives PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

26. Projects – The Larger Structure K-12 Segment Adding a new Line of Business in the Organization (Learning App for School Education) Market Research Project to check viability Content Development Application Development Program to launch the app Marketing Multiple inter-related projects Web Product Launch Class 1 Content Application Operations focuses on ongoing production of goods/services by optimising & transforming inputs to outputs. Class 2 Content New Market Development IoS APP Project & operations may intersect: When developing a new service/product When improving operations At the end of product life cycle At each phase closure • • • Android App • PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

27. Project, Program and Portfolio Portfolio is a collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives Portfolio Project Program is a collection of projects that are interrelated and/or interdependent and obtains benefits not available from individual components Program 1 Program 2 Program 3 Project Project Project Multiple inter-related Projects can be in parallel, in series, or in a combination of both. Projects are generally dependent on each other and serve a common outcome Project Project Project Project PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

28. OPM - Organizational Project Management A framework in which a Project, Program & Portfolio Management are integrated to achieve organizational objectives Organizational Environment Portfolio Review and Adjustments Program and Projects: Results Delivery Operations: Business Value Realization Portfolio: Value Decisions Strategy Business Impact Analysis Value Performance Analysis Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-4 Page 17 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

29. PMBOK®Guide Key Components These components, when well managed, result in successful project completion Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Table 1-3 & Fig 1-5, Page 18 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

30. Project Life Cycle Copyright © 2018, edureka and/or its affiliates. All rights reserved.

31. Project Life Cycle ▪ A Project Life Cycle is the series of phases that a Project passes through from its initiation to its closure ▪ All projects are divided into phases ▪ A life cycle can be determined by the unique aspects of the organization, industry or technology employed ▪ A life cycle provides basic framework for managing the Project Feasibility Analysis Design Implementation Project Lifecycle PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

32. Project Life Cycle in Different Industries ▪ There are various Project Life Cycle phases for different kinds of business. For example: IT Software Development Construction Pharmaceuticals ▪ Requirements Gathering ▪ Analysis ▪ Feasibility ▪ Discovery and screening ▪ Planning and Design ▪ Preclinical development ▪ Design ▪ Development ▪ Production ▪ Registration Workup ▪ Testing ▪ Turnover and Startup ▪ Post submission activities ▪ Implementation PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

33. Phase to Phase Relationship ▪ There are 2 basic types of Phase to Phase relationships : ✓ A phase can only start once the previous phase is complete Sequential Phase to Phase Relationships ✓ A phase starts prior to completion of the previous phase (Fast-tracking) ✓ Overlapping phase may increase risk and can result in rework Overlapping PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

34. Project vs. Product Life Cycle ▪ Product Life Cycle can generate multiple projects ▪ Project Life Cycle is divided into phases to provide better management control ▪ Phases in Product Life Cycle are generally sequential Multiple Project Life Cycle during Product Life Cycle Project Life Cycle Maturity Decline Initiating > planning > executing > closing Retire Growth Monitoring and Controlling Introduction Product Ideation Product Development End of Life Time PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

35. Types of Development Lifecycle Predictive Life Cycle Iterative Life Cycle ▪ Project scope, time and cost are determined in early phases of the life cycle ▪ Project scope is generally determined early in the project life cycle ▪ Iterations develop the product through a series of repeated cycles ▪ Increments successively add to the functionality of the product ▪ Also, called as waterfall life cycles Adaptive Life Cycle ▪ The detailed scope is defined and approved before the start of iteration ▪ Also, called as agile or change-driven life cycles Incremental Life Cycle ▪ The deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame Hybrid Life Cycle ▪ Combination of a predictive and an adaptive life cycle Project lifecycle are predictive or adaptive which occur in one or more phases and include development lifecycles. PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

36. Phase Gate ▪ Done at the end of a phase where project performance is compared with: ✓ Project business case ✓ Project charter ✓ Project Management plan ✓ Benefits management plan ▪ Based on which a decision is made: ✓ Continue to the next phase ✓ Continue to the next phase with modification ✓ End the project ✓ Remain in the phase, or ✓ Repeat the phase or elements of it PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

37. Project Management Processes Copyright © 2018, edureka and/or its affiliates. All rights reserved.

38. What is a Process? ▪ Process is a set of interrelated actions and activities to create a pre-specified product, result or service ▪ Each process is characterized by its inputs, the tools and techniques that can be applied, and the resulting outputs Process Tools and Techniques INPUTS OUTPUTS PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

39. Tailoring ▪ Selection of appropriate processes, tools, inputs, outputs, techniques & lifecycle phases ▪ Tailoring considers projects constraints, governance, culture, customer ▪ Done by the Project Manager in a collaborative manner ▪ Organizations may tailor Project Management methods to suit them, and provide additional tailoring guidelines for individual projects PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

40. Project Management Process Groups ▪ Process groups are NOT project phases or stages ▪ Process groups may repeat in each of the project phase ▪ Also, called as Domains of Project Management ▪ There are a total of 49 Processes mapped to 5 Process Groups, which are: Process Group Initiating Planning Executing Monitoring & Controlling Closing # of Processes 2 24 10 12 1 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

41. Project Management Knowledge Areas Knowledge Area # of Processes Project Integration Management 7 Project Scope Management 6 Project Schedule Management 6 Project Cost Management 4 Project Quality Management 3 Project Resource Management 6 Project Communications Management 3 Project Risk Management 7 Project Procurement Management 3 Project Stakeholder Management 4 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

42. Process Categories Processes used once or at predefined points in the project ✓ The processes like Develop Project Charter and Close Project or Phase are examples Processes that are performed periodically as needed ✓ The Process Acquire Resources is performed as resources are needed ✓ The process Conduct Procurements is performed prior to needing the procured item Processes that are performed continuously throughout the project ✓ The process Define Activities may occur throughout the project life cycle ✓ Many of the monitoring and control processes are ongoing from the start of the project, until it is closed out PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

43. Project Management Data & Information ▪ During a project, lot of data is collected, analyzed, transformed, aggregated, shared & reported The raw observations and measurements identified during activities performed to carry out the project work Project data are usually recorded in a Project Management Information System (PMIS) • • The performance data collected from various controlling processes, analyzed in context and integrated based on relationships across areas • • The Physical or electronic representation of work performance information compiled in project documents, which is intended to generate decisions or raise issues, actions, or awareness Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-7 Page 27 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

44. Project Management Business Documents ▪ Project Manager ensures that project approach is aligned to need as per business documents Project Business Documents Responsibilities ▪ Sponsor - develop & maintain ▪ PM - assist in aligning project plan, business case, benefits ▪ Project business case & Project benefits management plan, project charter, project success measures & management plan organizational goals. Tailor such documents. Align to program business case if any PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

45. Interrelationship of Needs Assessment and Critical Business/Project Documents Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017, Fig 1-8 Page 30 PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

46. Project Business Case ▪ Based on project needs assessment ▪ Justifies the project based on evaluation criteria, economic & other analysis ▪ Usually created before project initiation (pre-project) ▪ Facilitates measure of project success ▪ Maintained throughout the project ▪ Includes recommendations to decide go/no-go of project PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

47. Information in the Business Case ▪ Business needs – Business problem or opportunity, expected value, stakeholders & scope ▪ Situational analysis ✓ Goals, root cause and gap analysis ✓ Category of situation: required, desired or optional ✓ Options or alternatives or business scenarios to consider (i) do nothing (ii) do the minimum work possible (iii) do more than the minimum work, to address the business needs ▪ Recommendation – of an option along with its details and implementation approach ▪ Evaluation – a benefits measurement plan, including during operations after the project is over PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

48. Project Benefits Management Plan ▪ Details how & when project benefits will be delivered & measured ✓Target benefits ✓Strategic alignment ✓Timeframe for realizing benefits ✓Benefits owner ✓Metrics ✓Assumptions ✓Risks ▪ Developed based on the needs assessment & business case, thus created pre-project ▪ Note that benefits may be derived post the project in operations, thus this document can remain active after the project is closed PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

49. Project Charter and Project Management Plan Project Charter ✓Issued by the project sponsor ✓Formally authorizes the PM to use organizational resources for the project ✓Formally authorizes the existence of a project Project Management Plan ✓Details how the project will be executed, monitored & controlled PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp

50. Project Success Measures ▪ Projects success is measured in terms of completing the project within the constraints of scope, time, cost, quality, resources, and risk as agreed between Project Manager and Senior Management (approved) ▪ Achievement of project objectives (benefits, financial & non-financial measures, desired state change, contract fulfilment, satisfaction, user adoption or integration into operations, quality, governance compliance, any other measures like process related) ▪ As defined by stakeholders (what is success, how it will be measured, what can impact it) ▪ Link to organizational strategy & business results ▪ Continuous business alignment is key to success ▪ It is not just scope, cost & time PMP® CERTIFICATION EXAM TRAINING www.edureka.co/pmp