What is Project Management? Introduction in 7 Minutes (PMP/CAPM Basics/PMBOK Guide 101)

Summary

This script introduces project management as a blend of science and art, involving skills to oversee projects from start to finish. It highlights the five key stages: initiating, planning, executing, monitoring/controlling, and closing. The script emphasizes the importance of a project charter, stakeholder engagement, comprehensive planning, and the necessity of integrated change control. It concludes by encouraging viewers to pursue further training in project management.

Takeaways

• 📚 Project management is a blend of learned and natural skills, essential for managing projects effectively.
• 🌐 It is a global practice used across various roles and industries, from construction to cooking, as long as there's a defined start and end.
• 🏁 The primary role of a project manager is to oversee short-term endeavors, ensuring goals are met within the set time, scope, and budget.
• 📈 Project management is both a science and an art, requiring a combination of methods, tactics, skills, leadership, and personal attributes.
• 🔵 The five stages of project management are initiating, planning, executing, monitoring and controlling, and closing.
• 📜 Initiating involves starting the project with a clear need and authorizing it through a project charter, which is foundational for project management.
• 🛠 Planning is crucial and includes aspects like scheduling, cost management, quality, human resources, communication, risk, and procurement management.
• 🔧 Executing the project involves implementing the actions outlined in the project management plan and ensuring transparent communication.
• 🔍 Monitoring and controlling is an ongoing process that includes integrated change control and seeking early feedback to keep the project on track.
• 🏁 Closing the project involves finalizing deliverables, transitioning them to the customer, and documenting lessons learned for future improvements.

Q & A

What are the key skills involved in project management?

Project management involves both learned and natural skills, including methods, tactics, skills, leadership, and various abilities such as focus, resilience, and determination.

How is project management defined in the script?

Project management is defined as the science and art of accomplishing goals, completing tasks successfully, and delivering projects on time, within scope, and within budget.

What are the characteristics of a project according to the transcript?

A project has a definite beginning and end, and it is a short-term endeavor managed by a project manager to achieve specific goals.

What is the role of a project manager?

The project manager's role is to manage the project, ensuring it is accomplished within the defined scope, schedule, and budget, and to lead, guide, and serve the team to achieve the project's objectives.

What is a project Charter and why is it important?

A project Charter is a foundational document that authorizes the project and the project manager to apply resources. It is important as it serves as the basis for project management and is often formally signed and authorized by a project sponsor or initiator.

What are the five stages of project management mentioned in the script?

The five stages of project management are initiating, planning, executing, monitoring and controlling, and closing.

What is the significance of initiating a project?

Initiating a project involves starting the project, ensuring it fulfills a need, and authorizing it through the development of a project Charter.

Why is planning considered crucial in project management?

Planning is crucial as it involves developing a comprehensive strategy for delivering the project's main objectives, including scheduling, cost management, scope, quality, HR, communication, and risk management.

What does executing a project management plan entail?

Executing a project management plan involves implementing the identified actions in the plan, ensuring transparent communication, and coordinating the team to deliver incremental project results.

How is monitoring and controlling different from other stages of project management?

Monitoring and controlling is an ongoing process throughout the project's life cycle, involving tracking the project's progress against the plan and making adjustments as necessary through integrated change control.

What happens during the closing stage of a project?

During the closing stage, all project deliverables are approved by the customer, requirements are met, the project team transitions the deliverables to the customer, and lessons learned are documented for future improvement.

Outlines

00:00

📋 Introduction to Project Management

The first paragraph introduces Phil, a project management trainer, and explains that project management involves both learned and natural skills. It outlines how project management is applicable in various roles and industries around the world, from building structures to cooking dinner. A key point is that all projects have a definite beginning and end, which the project manager is responsible for. The goal is to accomplish tasks within time, scope, and budget, using both scientific methods and leadership skills. The paragraph also mentions five key stages of project management: initiating, planning, executing, monitoring and controlling, and closing.

05:00

📝 The Five Stages of Project Management

This paragraph breaks down the five stages of project management in more detail, starting with initiating, where the need for a project is identified and authorized through a project charter. It explains the importance of identifying stakeholders using a power-interest grid and planning for project objectives. It further elaborates on various aspects of planning, such as scope, scheduling, cost, quality, human resources, communication, risk, procurement, and stakeholder management. It also touches on change management and emphasizes that all these elements should be integrated into a formal project management plan, which is then approved by management and stakeholders.

Keywords

💡Project Management

Project Management refers to the process of planning, executing, and closing projects to achieve specific goals. It involves a combination of learned and natural skills and is applicable across various industries and roles. In the video, project management is described as both a science and an art, emphasizing the structured approach and creative problem-solving required to complete projects successfully. Examples include building infrastructure like houses or bridges, or organizing events, all of which have a clear beginning and end.

💡Project Charter

A Project Charter is a foundational document in project management that authorizes the project and the project manager to apply resources towards achieving the project's objectives. It is often formally signed by a project sponsor or initiator, indicating the project's importance and commitment from the organization. The video mentions that the Project Charter is the 'foundation stone of project management,' highlighting its role in legitimizing and guiding the project's direction.

💡Stakeholders

Stakeholders are individuals or groups who have an interest or are affected by the project's outcome. The video emphasizes the importance of identifying and engaging stakeholders throughout the project lifecycle. By plotting them on a power-interest grid, the project manager can determine the level of engagement necessary to ensure the project's success. This concept is crucial as it involves understanding the dynamics of influence and interest that can impact project direction and outcomes.

💡Scope Management

Scope Management is the process of defining and managing the work required to deliver the project's objectives. It involves creating a clear and detailed scope statement that outlines what work will be done and what will not. In the video, scope management is mentioned as a critical planning area to ensure that all necessary tasks are included and that the project remains focused on its intended deliverables.

💡Scheduling

Scheduling in project management is about developing a timeline for the project, including all the tasks, milestones, and deadlines. The video script mentions planning how to develop the schedule, emphasizing the importance of a well-structured and realistic timeline that fits the project's needs. Effective scheduling is crucial for coordinating resources, managing time, and ensuring the project is completed on time.

💡Cost Management

Cost Management involves determining the budget required to complete the project and controlling costs to ensure the project is delivered within that budget. The video highlights the importance of realistic cost estimation and avoiding 'padding' of costs, which refers to the practice of inflating estimates unnecessarily. Effective cost management is essential for financial planning and ensuring the project's economic viability.

💡Quality Management

Quality Management is the process of ensuring that the project's deliverables meet the required quality standards and are fit for their intended use. The video mentions quality management as a planning area where the project team determines the quality requirements and how to ensure compliance with those requirements. This is vital for customer satisfaction and the overall success of the project.

💡Human Resource Management

Human Resource Management in project management involves planning for the acquisition, development, and management of the project team. The video script discusses this as a part of the planning process, emphasizing the importance of having the right team in place to execute the project successfully. This includes recruitment, training, and team dynamics, which are all critical for project performance.

💡Communication Management

Communication Management is about planning, implementing, and monitoring the communication of information within the project team and with stakeholders. The video script mentions the importance of deciding what, why, how, and when to communicate, which is essential for ensuring that all project participants have the necessary information to perform their roles effectively and make informed decisions.

💡Risk Management

Risk Management involves the identification, analysis, and response to potential risks that could impact the project's success. The video script discusses planning for risk management as a critical part of the project management process. This includes developing strategies to mitigate risks and prepare for potential issues, which is essential for the project's resilience and overall success.

💡Integrated Change Control

Integrated Change Control is a process in project management where all change requests are managed and approved through a formal process, often overseen by a Change Control Board. The video script describes this as a crucial aspect of monitoring and controlling the project, ensuring that any changes are formally requested, reviewed, and approved to maintain project integrity and alignment with the project's objectives.

💡Closing

Closing is the final stage of project management where all project activities are completed, deliverables are handed over to the customer, and the project team is disbanded. The video script mentions that after all deliverables have been approved and requirements met, the project is closed out. This includes documenting lessons learned and transitioning the project's outcomes to the customer or operations team, which is essential for project completion and organizational learning.

Highlights

Project management is a blend of learned and natural skills.

Projects have a definite beginning and end, differing from ongoing operations.

The role of a project manager is to oversee short-term endeavors.

Project management is both a science and an art, aiming to accomplish goals and complete tasks successfully.

Key components include scope, risk, schedule, budgeting, and communication.

The project management process consists of five stages: initiating, planning, executing, monitoring and controlling, and closing.

Initiating involves starting the project and authorizing it through a project Charter.

A project Charter is the foundational document for project management, often signed by a project sponsor.

Stakeholder management is crucial, requiring identification and engagement strategies.

Planning is comprehensive and includes scheduling, cost, quality, HR, communication, risk, and procurement management.

Scope management defines what needs to be done to deliver the project's deliverables.

Cost management ensures the project is completed within a realistic budget.

Quality management ensures the deliverable meets quality requirements and is fit for use.

Human resource management involves team acquisition, development, and management.

Communication planning determines what, why, how, and when to communicate.

Risk management involves identifying, analyzing, and responding to project risks.

Procurement management plans for engaging contracts to procure necessary items or resources.

Change management is about managing alterations to the project scope or plans.

Executing the plan involves implementing actions and ensuring transparent communication.

Monitoring and controlling is an ongoing process that includes integrated change control.

The Change Control Board reviews and approves all formal change requests.

Feedback from customers and stakeholders is sought early and often to keep the project on track.

Closing involves transitioning deliverables to the customer and documenting lessons learned.

Project deliverables are typically handed over to the customer's operations team upon completion.

The presentation offers an online course for PMP or CAPM exam preparation and team training.

Transcripts

hello it's your friend Phil project

management trainer and coach welcome to

the short version of what is project

management project management involves

both learned and natural skills you can

learn how to manage projects some people

are naturally gifted in the areas of

project management but you can learn

project management people use project

management all over the world in

different roles projects could be

building a house a bridge a shopping

complex cooking dinner almost anything

that has a beginning and an end that is

the very important thing to note about

project management projects have a

definite beginning and an end and the

job of the project manager is to manage

these short-term endeavors the end of

the project could be when the goal has

been accomplished or when the customer

says I don't need that project anymore

project management could be said to be a

science and an art of accomplishing

goals completing tasks successfully

completing the project on time scope and

within budget project management is

carried out by the application of

methods tactics skills leadership and

everything you've got making sure you're

focused rugged dogged and any other

valuable abilities project management if

both a science and an art it includes

scope management risk management

schedule management budgeting and the

art of communicating and leadership

there are five stages in project

management initiating planning executing

monitoring and controlling and closing

these names speak for themselves but

let's talk about these in a little bit

more detail initiating is starting off

the project making sure that the project

really fulfills a need and then

authorizing that project usually the

project is authorized by the development

of a project Charter that document

called a project Charter is the

foundation stone of project management

this Charter could be formally signed

and authorized by someone known as a

project sponsor or initiator the Charter

authorizes the project and it authorizes

the project manager to apply resources

to the

project the project manager should lead

guide and serve the team to successfully

carry out the identified work after that

done the project manager should begin to

identify people who could affect the

project or people who would be affected

by the project's outcome these people

should be plotted on a power interest

grid to identify the levels in which to

engage these stakeholders throughout the

project next a project manager and the

team should develop a plan for how best

to deliver the project's main objectives

that takes us to plan in the project if

you fail to plan you plan to fail so

plan everything under the Sun some areas

in planning could include scheduling

cost management scope quality HR

communication and risk management to

mention a few there could be other areas

not here on this slide that could be

included as part of planning such as

health and safety for example let's talk

about these one-by-one scope management

is all about defining in clear terms all

that needs to be done to deliver the

project's deliverable scheduling is all

about developing a schedule but first

you want to plan how to develop the

schedule and then develop a schedule

that fits the project cost management is

next and this involves determining how

much you need to get the project done

making sure it's realistic and making

sure you don't pad those costs next is

quality management determining the

quality requirements and how to make

sure that the deliverable is fit for use

and conforms to requirements next is

human resource management which involves

planning how to acquire the team develop

the team and manage the team the next

thing we plan is communications what are

we going to communicate why how and when

next is risk management this involves

planning how to identify risks analyze

risks and respond to risks next is

procurement management this involves

planning how to engage in any necessary

contracts to procure items or resources

to complete the project

next is stakeholder management planning

how best to engage the identified

stakeholders we talked about

lastly change management planning how to

manage change to any of those areas we

talked about on the project

lastly integrate all of those plans into

what we call a project management plan

this master plan is a formal plan for

driving the project the project

management plan is a formal documented

plan usually approved by management the

sponsor and customer that should only

change with the approval next we execute

the plan

the project management plan should be

executed through the implementation of

identified actions in the plan after all

is said and done the project manager

should be lead in ensuring communication

is transparent and ensuring that the

team is coordinated to deliver

incremental project results another very

important stage is monitoring and

controlling and this should be done

throughout the project the moment the

project is initiated the project manager

should be monitoring and controlling the

project it continues all the way to

project end a very important aspect of

monitoring and controlling is known as

integrated change control integrated

change control is a process in project

management where the project manager

funnels all of those change requests

that may come up to change one thing or

another through a group of people known

as to change Control Board this means

that all change requests should be

requested formally in an approved

document monitor and control in also

involves that all aspects of the project

management plan are working and if

something isn't working then it needs to

be updated or changed as part of

monitoring and control in the project

manager and the team should seek early

feedback from customers sponsor an end

user early and often feedback should be

solicited to ensure the project is on

track and to avoid any surprises at the

project end

lastly closing

this is where we close out the project

after all project deliverables have been

approved by the customer and our

requirements are met then the project

team should transition the deliverable

to the customer the project team should

also take account for what went well and

what didn't go so well and these are

documented as lessons learned and used

to improve on processes in other

projects or the organization as a whole

typically project deliverables are

transitioned over to the customers

operations team and the project team

moves on to yet another project I hope

you enjoyed that presentation of what is

project management if you would like to

attend our online course for the PMP or

cap M exam visit w-w-w and calm or if

you would like to invite us to train

your team in project management contact

us at info at prezi.com all the best in

your project management and thank you

for your audience