PMP Masterclass

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PMP Masterclass

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Pass PMP in 2022

Pmp 2021 Masterclass

The PMP Masterclass is a premier training system, filled with HD streaming video lessons, audio, handbooks, diagrams of every presentation slide, e-books, quizzes, wall mounted infographic and sample exams. You will be treated to brand new 2021 videos and Handbooks including new detailed PMP Agile video lessons, delivered in easy bite sized steps to ensure you fully grasp the full revised 2021 PMBOK Structure

  • Master PMP with Ease
  • This is based on the current (6th & 7th Revision) PMBOK plus 50% PMP AGILE videos
  • Upgraded to include ALL the latest PMI Changes to March 2021
  • Covers all 5 Process Groups plus Agile PMBOK includes 234 new PMP Agile Questions, answers and rationale Exam Simulator
  • New Agile videos for each PMBOK Knowledge Area
  • NINE new video modules covering the latest PMP Agile Practices
  • NEW 16 Video Modules on all 12 PMP Agile Methodologies

The current Project Management Professional (PMP) certification has been updated. The Project Management Institute updated the PMP exam in 2021, PMBOK 6th Edition now has 35 tasks and a new exam structure. The PMP Masterclass includes everything you need to pass your PMP Certification in 2022. You will master every PMP Process with our detailed HD training Videos.

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PMP Masterclass

Introduction

1 Lesson

Congratulations You have taken an important step to become a PMP Certified Project Manager. Like any powerful learning tool, you will find it easy to use, but before you get started, I want to give you some important points that will make your journey simple and easy…READ ON…

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The PMBOK Guide and PMP Exam

4 Lessons

The PMP Masterclass includes the latest PMI changes and as you may know, 50% of the PMP Exam questions will be on the agile methodology. To meet the 2021 syllabus changes, our PMP Masterclass has all 28 of the PMBOK syllabus subjects covered with extra video modules, which are called Applying Agile to PMBOK.

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PMP Masterclass Lesson 2 - Topic 2 - covers Diversity and Inclusion. You will learn of generational diversity, and forming collaborative, supportive and respectful teams.

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The PMBOK Agile approach and Empowerment to Management - servant leadership and its responsibilities

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PMBOK Processes. Process Products are usually the output of one Process feeds into the input of another. the scope of the project is “progressively elaborated” – meaning some processes are performed iteratively. Let's look at how they may be applied to simple and multiple phase projects.

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PMP Module 2

7 Lessons

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Welcome Back! This Module continues on from the previous Module with project concepts, foundational terms, programs and portfolios.

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Project Concepts, Constraints and Assumptions limit the project and the teams’ options in areas such as schedule, budget, scope, and resources. Assumptions are aspects that are presumed to be true – although that might not be the case. Stakeholders are individuals who are either involved in the project, or whose interests may be positively or negatively impacted by the project outcome and may exert influence over the project and its outcome. Let's look at: - Data, Information, and Reports - Work Performance Data - Work Performance Information - Performance Reports

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Here you learn the PMBOK common terms, environmental factors and similar aspects. We take a look at common project management tools, techniques, and common PMBOK Process outputs. The Foundation Term is used to describe the project plan, cost, time, and scope. Baseline refers to the original plan plus any approved changes. This will change as the project changes – old baselines should be archived. A plan’s baseline is the original plan plus all agreed changes. Historical Information Records of past projects – this is helpful in planning and managing future projects. It can be helpful in benchmarking the current project. Used to help predict trends and evaluate a project’s feasibility. Enterprise Environmental Factors can be anything external to your project. Organizational Process Assets Tools, documents, knowledge, policy guidelines, templates, in fact, anything that already exists that can help you plan your project.

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A program is a group of projects an outcome – BUT no clearly defined path of getting there. Program management is the coordinated management of related projects, which may include related business-as-usual activities that together achieve a beneficial change, usually of a strategic nature for an organization. Portfolio management is the selection and management of all of an organization’s projects, programs and related business-as-usual activities taking into account resource constraints. Describes the investment business has in itself. Portfolios are about maximizing return on investment.

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You will learn what the agile manifesto is and compare waterfall to agile approaches. We look at an adaptive lifecycle and compare organization approaches in addition to examining return on investment and collaboration. I review the agile manifesto mapping The Four Values.

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We explain and align how the agile manifesto maps the 12 Principles of agile.

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You will learn about the Project Charter and Team Charter. We cover the 21 key points covering the agile project management mindset.

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PMP Module 3

5 Lessons

Welcome Back! There are three video lessons in this Module, and we shall be discussing two important common process inputs – Enterprise environmental factors and Organizational process assets. The latest PMBOK Guide 6th edition places more importance on project management awareness, in particular a more mature view on how the project interfaces with the performing organizations policies, procedures and organizational systems. So you can expect to see some exam questions on these topics…

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Projects take place in different organizations – from small start-ups to large multinationals. - Enterprise Environmental Factors (EEF) - Organizational Process Assets (OPA) - Organizational Systems (OS) Enterprise Environmental Factors - Factors outside of the project itself that have, or may have, significant influence on the success of the project…These are the organization’s culture and existing systems that the project will have to deal with, work within, or make use of. Here you will learn the various aspects of a project operational environment, and the ten environmental factors. Let's look at what an enterprise environmental factor is and contrast it to an enterprise environmental factor:

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Here, we look at the many types of organizational process assets, within the process group context of initiating and planning and executing, monitoring and controlling. ata that add value to the project. These can be very useful for starting a new project or reviewing a project at key points. These are the organization’s processes, procedures, and historical information. Plans, processes, policies, procedures and knowledge bases specific to and used by, the performing organization and have an influence on the management of the project. These include any artifacts, practice or knowledge from any or all of the organizations involved in the project that can be used to perform or govern that project. Policies, Processes, and Procedures, are unique to each organization and lay down how we manage our projects.

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We first look at organizational knowledge repositories and organizational systems. You will learn the organizational governance frameworks and their use on portfolios, programmes and projects. These describe how you get things done and be successful within your organization. For projects to operate effectively inefficiently within an organization’s structure and governance framework, the project manager must understand where responsibility, accountability, and authority reside within the organization. The organizational system determines the power, influence, competence, leadership and political capabilities of the people who can act within the system, and the management elements – who reports to who and what the management structure is.

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You will learn the 3 key elements of organizational culture within agile, and agile business practices.

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PMP Module 4

7 Lessons

There are three video lessons in this module covering the various different organizational structures, and the three different approaches and services used in a typical Project Management Office. Pay particular attention to the three different matrix structure types along with their advantages and disadvantages. Don't forget to carry out your Handbook exercises...

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Every organizational structure is different and unique. However, there are some different structure types defined by the following aspects: How the organization is built, and how this influences power for the project manager. The structure you are operating within affects your authority within the project - with power shifting between the project manager and the functional manager. Simple organizations, functional organizations, multi-divisional structure organizations, and the virtual organization.

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You will learn about Organization Types. Matrix Organizational Structures. The Weak, Balanced, and Strong Matrix. Project Oriented (composite, hybrid) organization types. Hybrid Organizations and the Project Management Office

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Project Management Office is the Department that centralizes the management of projects. It provides a range of services including resource provision. Includes methodologies, templates, tools, training. Usually a supporting role. Provides Best Practices and Standards. Audit and project administration services. Help gather lessons learned and provision for other projects. Providing support and guidance to the organization on how to manage projects. Training others in project management or project management software, and assisting with specific project management tools.

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Here we introduce the concept of an agile project management office as being value-driven, invitation-oriented and multi-disciplinary. It facilitates organizational learning while managing stakeholders. It champions agile practitioners and provides agile trouble-shooters, mentors and coaches.

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You will learn the key roles and segments within a typical sprint/timebox as well as the typical sequence within a sprint process. We discuss the agile sprint/iteration and definition of done.

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Here, you will learn the structure of an agile project within an organizational context and the various approaches that can be used. We discuss the evolving agile organization and introduce the use of Kanban boards.

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PMP Module 5

9 Lessons

Tailoring Processes. When tailoring a project there are FOUR key questions that need to be answered: Choose what processes should be used on a project, What depth the process is should be used, Not every process is needed on every project, and the larger the project, the more processes are likely needed. You will learn the fundamental approach to tailoring and start with how to tailor a predictive lifecycle. We will then examine how to tailor iterative and incremental lifecycles and then examine how to tailor and adaptive lifecycle.

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Business documents for project performance include Project business case, Project charter, Project management plan, Benefits management plan and Phase gate within the project. Actual performance compared to business documents.

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Process Integration addresses how the project is integrated with the goals, tactics, and vision of the organization. Integration at this level means working with the project sponsor to ensure that the goals and objectives of the project match with the goals and objectives of the organization. Projects must support the broader vision and purpose of the organization, or the project may not be contributing to business value and may have challenges garnering support with the organization

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You will learn the general approach used when implementing agile projects, and when you use them (and when not!). We then examine the agile/scrum structure, and build a picture of how an agile project manager manages the agile team.

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Learn the definition and application of business value and its importance in projects. You will learn the key business value measures and the project manager's role in ensuring it is delivered. We look at the interaction with the agile product owner, and the importance of the minimum viable product.

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You will learn about the project uncertainty and complexity model, and examine the characteristics of predictive, iterative, incremental and agile lifecycles. We then take a look at how these interact with project management.

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First we look at common blending approaches then go on to understand project factors and tailoring options. I introduce the tailoring of large agile projects, and the use of dispersed teams

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In this lesson I provide you with the seven key agile tailoring recommendations and how you may apply them.

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There are up to 19 major roadblocks that may need to be cleared and resolved when applying an agile approach to your projects, so here I uncover them all for you.

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PMP Module 6

5 Lessons

Projects are temporary. Projects drive change, changing from the current state to a future state. Projects Create Business Value. A Project is NOT Operational Work.

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Communication skills, Communications during the project will take many forms. The project manager is the creator and manager of most of the project communications, including project documents, meeting updates, status reports, and so on. The project manager must ensure that the information is explicit, clear, and complete so that your audience will clearly understand what has been communicated. Project Managers Solve Problems.

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The Functional Manager who usually owns the project resources, and is often a Group or Departmental Head. Senior Management, who is anyone more senior than the Project Manager, and can resolve organizational conflicts.

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The project manager is the creator and manager of most of the project communications, including project documents, meeting updates, status reports, and so on. The project manager must ensure that the information is explicit, clear, and complete so that your audience will clearly understand what has been communicated. Ninety percent of project management is communication by asking and listening, managing expectations, and accepting and offering constructive feedback.

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Effective problem solving requires negotiation and influencing skills, and this requires working with others to come to an agreement. Influencing is convincing the other party that your way is best even if it is not what they want. Power and politics are techniques used to influence people to perform.

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PMP Module 7

4 Lessons

Project managers need a combination of knowledge, performance, and personal traits to be successful. Knowledge: understanding project management, Performance: accomplish as a project manager, and Personal: behaviour, effectiveness, character, leadership. The Talent Triangle covers the skills every project manager requires - as your mastery of them will affect project outcomes. There are three areas, technical project management skills, leadership skills, and strategic and business management skills. Here, you will uncover the three key project manager values required for project success and effective management. We examine the technical management skills and the personality traits for a project manager

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Business and Organizational skills are the ability to see the high-level overview of the organization, effectively negotiate and implement decisions, and knowledge of other functions such as finance, marketing, and operations.

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The project lifecycle is a series of phases from project start to finish, and we look at the classical approach called waterfall. This is also known as a predictive lifecycle, and the benefits are covered first here. We then delve into the iterative lifecycle and explain the model for applying it.

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I introduce the concept of varying-sized increment lifecycles and describe the structure of such increments. We examine the categories and characteristics of the different lifecycles and I demonstrate what an Agile iteration-based lifecycle is.

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Designed for the Project Manager to elaborate and refine the processes throughout planning, execution, and control while keeping the team focused on work package execution. Integration Management focuses on these seven processes – how they work and interact together.

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Simple payback is the most simple project evaluation tool, and the least meaningful business justification from the resulting financial benefits. How long it takes to recover the initial project investment cost from the resulting financial benefits.

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Continuing with project selection, we look at measuring benefits, net present value, return on investment and cost benefit analysis.

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The Project manager participates in project selection decisions, benefit analysis and help other stakeholders in validating project alignment with organizational strategy and expected business value. Simple payback is the most simple project evaluation tool and the least meaningful business justification from the resulting financial benefits.

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The Project Management Plan is a single, formal document that defines how the project is managed, executed, and controlled.

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A formal, approved document that defines how the project is managed, executed, controlled and closed. The Project Management Plan may be summary, detailed, or split into sections. The Project Management Plan is progressively elaborated! The Project Management Plan Communicates the intent of the project, serves as a guide for the project manager, provides project's structure, provides documentation and project baselines

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This is where the work is done and funds are spent to satisfy the project objectives.

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This is a new process in the PMBOK Guide Sixth Edition so expect to see exam questions on this topic. Manage Project Knowledge is a way of managing existing knowledge – the knowledge that already exists within an organization...

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This process compares results to the plan, and making any needed adjustments to ensure the two align. This compares the work results with the plan and adjusts the work or the plan via corrective action.

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You will learn the different set of metrics and measurements used in an agile projects, and why traditional metrics may not be suitable within agile.

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Here we look at the use of Kanban and its different measurements along with the use of story points and feature tracking. I introduce the feature chart and the product backlog burnup chart.

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You will learn how to plan for project compliance and its various categories, while working with key stakeholders to determine compliance. I introduce the dangers of non-compliance along with team health and safety.

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You and I look into the organization culture, structure, and policies and how the project leader must navigate through these. You will learn of the two drivers for change management within an agile context, and the need of readiness for change.

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Integrated Change Control is used throughout the project, reviews all change requests, sets up a configuration management and change control process, and approves or denies changes. Integrated Change Control is focused on identifying, documenting and controlling changes to the project and its baselines.

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Integrated Change Control is used throughout the project, reviews all change requests, sets up configuration management and change control process, and approves or denies changes.

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This is where gathering project records and disseminating information takes place in order to gain project product acceptance, and to perform project closure.

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Here you learn how to apply agile to pmbok and how the project manager and the team reacts to an adaptive environment. You learn of the project managers role in agile integration and how the project charter and project management plan is developed.

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This process ensures the product, service or result of the project matches the documented scope. Scope Management is a presentation of the processes to plan, define, and control the project scope. The project manager should always be in control of scope by actively defining and managing it.

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The project manager needs to identify key deliverables based on the business requirements in order to manage customer expectations and direct the achievement of project goals.

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Collect Requirements - the primary means of understanding and managing stakeholder expectations.

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Refined by additional analysis, changes, requirements, and detail. Analysis of the project’s product, service, or result – used to improve the team’s understanding and capture as requirements.

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The WBS is the hub of information for the project. Time, Cost, Work, and Deliverables are mapped back to it, breaking down the deliverables into smaller lower-level components such that you can plan, execute, monitor and control, and close out the project deliverables.

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Time, Cost, Work, and Deliverables are mapped back to it, breaking down the deliverables into smaller lower-level components such that you can plan, execute, monitor and control, and close out the project deliverables.

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Validate Scope is the process of ensuring that the product, service or result of the project matches the documented scope.

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Here, we examine the differences between project and product scope and how agile methods manage such scope. We dive into the product roadmap and the part that plays in the plan scope management and colect requirements processes.

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You will learn how this represents prioritized requirements, and how this is used to manage and control scope product release and set customer expectations. We cover how user stories provide iteration/product acceptance criteria.

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The Schedule Management Plan defines how the schedule will be defined, measured, when and how often progress is tracked, and actions for project deviation, and how progress will be reported. The SMP becomes part of the Project Management Plan.

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This process can be performed as soon as the scope baseline has been created. Work Packages identified on the WBS often contain multiple activities – it is these that will be further broken down to create the Activity List.

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Here, we arrange the activities in the order that they must be performed, ensuring a logical schedule sequence and logical activity relationships. this will be used to create the schedule later – but for now, it ONLY contains the activity order and dependencies – there are NO start or finish dates yet.

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Estimating the average available work effort and productivity. Creating task cost estimates, in addition to labour cost may need the cost of materials, equipment, facilities, etc.

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Estimating the average available work effort and productivity. Creating task cost estimates, in addition to labour cost may need the cost of materials, equipment, facilities, etc.

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Critical Path Analysis is a procedure that calculates the critical path and floats in a network, and analyses this information to predict project duration.

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Critical Path Analysis is a procedure that calculates the critical path and floats in a network, and analyses this information to predict project duration.

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Here we examine the Gantt Chart and schedule baseline, and how it shows early and late task dates. You will learn an overview of resource management and how it applies to the project schedule.

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Unlimited resources, moving activities within their free and total slack, to achieve a ‘smooth’ and manageable resource profile across the project WITHOUT moving the project end date. Resource Levelling. Using fixed or limited available resources, moving activities within their free and total slack if that is possible, to achieve an achievable resource profile and with a realistic project end date.

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SCHEDULE REVIEW. Showing how many resources are on each task will allow you to determine in which time-period resources are needed, and their cumulative total. Resource Histogram. Each week’s total is shown as a bar whose height represents the number of people working on that (and any other activity) during that time-frame.

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The project must measure the project’s progress, and be able to recommend and implement, corrective and preventative actions that adjust the project in order to agree with the schedule baseline. Schedule changes can cause the need for resource-leveling or smoothing, plus lead and lag adjustment and schedule compression.

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The heart of Scrum is a Sprint, a time-box of one month or less during which a “Done”, useable, and potentially releasable product Increment is created. Sprints have consistent durations throughout a development effort.

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Here we look at the product vision and release planning, including how an agile release plan is used. I take you through sprint planning and the application of velocity to control and forecast sprints.

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We look at how agile schedule managent can be applied to PMBOK, and the use of the high-level product roadmap. You will learn how to perform detailed scheduling using sprints and how these are used for agile release planning.

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I teach you the critical chain benefits and method of development. You will learn how to use critical chain buffers while contrast and comparing the critical chain method against the critical path technique.

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Earned Value Management (EVM) is a project control process based on a structured approach to planning, cost collection and performance measurement.

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In this lesson I take you through a simple step-by-step earned value example to anchor in exactly how you apply the basic formula for understanding the earned value status and forecasting techniques.

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Earned Value Management. Earned Value Management (EVM) is a project control process based on a structured approach to planning, cost collection and performance measurement. EVM facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.

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In this lesson you will learn how to apply earned value indices and variances by working through several examples. We then examine how to estimate the project completion date.

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Here, I show you my earned value management memory tricks to summarize all the exam formula. I describe how to use schedule performance indicators and cost performance indicators. I demystify the calculation of the cumulative cost performance indicator, and go on to explain the six categories of project costs.

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Earned Value Management. Earned Value Management (EVM) is a project control process based on a structured approach to planning, cost collection and performance measurement.

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Earned value has several key formulas, and resolved the ambiguity between cost and schedule forecasting by creating an extra ‘earned value’ criterion. Here, I take you through a detailed EVM case study completed with worked examples and answers.

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The Cost Performance Index (CPI) is your past performance and the TCPI is your future performance, which you must meet to complete the project within the approved budget.

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Here you will learn to answer: What is the expected total cost of completing the project? What is the expected total cost to complete the remaining project work? What is the expected cost to complete the remaining project work?

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Cost Management Deliverables. The costs of human and physical resources and when those costs will be incurred. It is the job of the Project Manager to monitor and control cost against time, scope, quality and risk so that forecasts remain realistic, clearly defined and achievable

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Cost Management Estimation. Estimate Costs evaluates and analyses the activity time and their resource estimates to produce a cost estimate.

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A Budget is known as the Cost Baseline. A Cost Baseline takes the estimated project expenditures and relates them back to the Project Calendar – this will give the cash flow requirements as well as the total budget.

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Controlling processes are proactive, they do not wait until a change occurs, rather, they try to influence the change factors.

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You will learn how harness lightweight cost estimation methods to agile projects and where detailed estimates are needed.

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Quality Management is balance quality needs against scope, time, cost, risk, and customer satisfaction. Quality Management is to recommend changes or corrective actions.

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To start with, I explain various aspects that affect quality, and the various metrics needed to measure it. We then examine the differences between quality planning, quality assurance, and quality control.

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This defines what the quality specifications are for this project and how these specifications will be met.

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Multicriteria decision analysis (MCDA) is an advanced field of operations research and management science, devoted to the development of decision support tool methodologies.

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Manage Quality is ensuring that the project complies with both organizational and project policies and processes.

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Process analysis is another technique that can be used in Control Quality to help identify the potential sources of problems or variance from the plan as part of root cause analysis.

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Process analysis is another technique that can be used in Control Quality to help identify the potential sources of problems or variance from the plan as part of root cause analysis. Each product and project deliverable is inspected, measured, and tested. Root cause analysis of problems can be diagnosed with process analysis techniques such as Lean, Six Sigma, and Kanban. Control Quality can also involve statistical sampling (also discussed in Plan Quality Management) and inspections to make sure quality standards have been met.

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Here, I cover the use of sprint quality reviews and retrospectives to manage quality, reduce defects, and customer feedback at key iterations.

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Resources can be human or physical – for example, equipment, material, tools, facilities, etc. PMI’s approach is that everyone on the project has a role – and corresponding responsibilities.

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Plan Resource Management gives guidance to the rest of the resource management processes. Lays out how you will staff, manage, team-build, assess, and improve the project team. People, tools, equipment, facilities, cost, etc.

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How long an activity takes is usually based on the work effort and the number of resources available. The Resource Breakdown Structure (RBS), is similar to the Work Breakdown Structure, but it organizes the resources by category and type. Bottom-up estimating is an estimate activity resources technique based on making estimates for every work package (or activity) in the Work Breakdown Structure and summarizing them to provide a total estimate of cost or effort required.

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Staffing the project, and procuring the physical resources. Getting the right resources working on the project. Multi-Criteria Decision Analysis – use of a weighted matrix to select the most suitable candidate for a position.

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Develop Team process focuses on building a sense of team and improving its performance. The project manager is responsible for increasing team performance. Recognition and Rewards (Theories of Motivation)such as Tuckman’s Ladder.

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The presence of certain factors does NOT make someone satisfied – but their absence will make someone unsatisfied. Poor hygiene factors can destroy motivation. Hygiene factors must be present, but they do not motivate themselves. Motivation factors will motivate, but will NOT work without the Hygiene factors in place.

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Relative to the managers perception of an individual’s attitude, and this informs and drives the style of management towards their staff.

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The project manager is actively managing the team to ensure they perform according to the plan.

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Here you learn the seven types of leadership styles and the two steps needed to manage conflict. I cover the six types of conflict management methods. I show you the many constructive team roles and destructive team roles.

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The control resources process makes sure that the physical and human resources on the project are available with the uninterrupted flow and usage lines up with the Resource Management Plan.

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Here, you learn to flexibly plan for resources and adapt communications management to deal with adapting projects with collaborative teams. You will learn the servant leader approach to management and work with self-empowered project teams as well as estimating resources in agile

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We start by discussing the value of project management within an agile project and the trade-off of interpersonal verses technical skills.

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You will learn how to boost productivity and problem solving skills as well as utilize communal workspaces.

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Here, we focus on the project manager's job of team leadership using the servant leader style while supporting diversity and inclusion. Why the project manager may provide training on the road to boost morale, confidence and team competence.

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Such conflict typically occurs in the Manage Team process and may also include functional managers. I show the five stages of conflict including analysis and problem solving. We finish by looking at the four main methods used in resolving conflict.

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Communication Management focuses on all tasks relating to producing, compiling, sending, storing, distributing, and managing project records.

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The Communications Management Plan documents the type of information needs the stakeholders to have, when the information is distributed, and how the information will be delivered. It defines the lines of communications upfront that will reduce conflict.

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The project manager, assisted by the sponsor, must understand each stakeholder and their organizational influences and interest areas within the project. Executing the Communications Management Plan. This compares the results of Manage Communications with the Communications Management Plan.

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In this lesson you will learn the importance of agile communication needing to be low-tech, high touch and face-to-face, to enhance discerning issues and plans. I cover the key communication meetings such as the sprint planning meeting, the daily stand-up, sprint reviews and retrospectives.

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The Project Manager must understand how to plan for them – anticipate and identify areas of risk – how to quantify and qualify them – and how to control them. There are TWO risk characteristics that must be understood.

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The Risk Management Plan should be created early in the project as it will have an impact on the project scope, cost, time, quality and procurement aspects.

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Risk Analysis is performed on a list of risks that are identified from the Identify Risks Process. This list of risks is documented in the form of a Risk Register.

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Each risk is analyzed for probability and impact so each risk can be prioritized and ranked – according to their effect on project objectives. Risks normally change their status as the project progresses – so analysis will need to occur more than once

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This process evaluates the impacts of risk prioritized during the Qualitative Risk Analysis process and quantifies project risk exposure on the combined effects of the probability of occurrence and impact on project objectives

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Strategies for Negative Risks or Threats. To avoid a risk means you’ll evade it all together, eliminate the cause of the risk event or change/isolate the project plan to protect the project objectives from the risk event. Essentially, you eradicate the risk by eliminating its cause.

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Project Manager ensures risk responses are carried out. Risk Owners are empowered to implement risk responses. Risk reduction needs justification – cost/benefits and PIM. Include the cost of risk prevention and risk responses. Schedule delay risks often cause cost increases

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Agile's approach to risk responses are similar to those in a predictive project. However, the differences when using adaptive approaches is the use of frequent reviews of incremental work to manage risks more effectively.

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Procurement is the set of processes performed to obtain goods, services or scope from outside the (buyers) organization. The procurement management approach should be formal.

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The project manager must determine a strategy for conducting procurements and the type of contracts to be used. Project management best practices currently favors buying externally rather than building internally.

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Here I describe the procurement management plan and source selection analysis and review the key points of procurement.

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Here, we cover Plan Procurement Management Tools. Source Selection Criteria. The source selection criteria are determined before the seller is selected and may, or may not, be shared with the prospective sellers.

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The Point of Total Assumption is the point in the contract where a subcontractor/seller assumes responsibility for all additional costs. Used to calculate how risk is allocated between the Buyer and Seller – Particularly when using Fixed Price Incentive Fee contracts.

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Fixed Price contracts are used for acquiring goods or services with well-defined specifications or requirements.

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Conduct Procurements carry out the Project Procurement Plan, selects one or more sellers and award the procurement, usually in the form of a contract.

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Control procurement is Monitoring the vendor’s performance and ensuring that all contract requirements are being met.

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You will learn how the use of agile leads to a more collaborative relationship between all parties with a focus on contracts allowing some form of adaptive scope. Indeed, on hybrid projects you may use a combination of predictive and agile procurement.

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The Project Manager must manage the expectations that drive stakeholder satisfaction Stakeholder management is “the creation and maintenance of relationships with the aim to satisfy needs”

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Plan Stakeholder Management is all about enhancing stakeholder relationships. Stakeholder relationships should use two-way communication with an emphasis on stakeholder involvement and engagement.

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The Project Manager must manage the expectations that drive stakeholder satisfaction, and determining all the interested and affected people and organizations.

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Agile projects likely have high amounts of change and need regular and more stakeholder involvement. I cover the benefits of stakeholder engagement when using an adaptive method, and the vital need to agree ground rules for engagement. I introduce why it is important to mentor stakeholders when using an agile method.

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Here, the same negotiation rules and approaches apply as for a predictive project. I delve deeper into the negotiation principles and techniques needed such as BATNA and ZOPA plus MFP.

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The professional responsibility of a project manager is that they should be a leader, deal with issues in a direct manner, should act legally and ethically, and should be open and up-front.

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Here, I introduce the six professional categories that must be applied, giving advice and guidance to implement such practices at all times. I summarize the nine key actions to best practice professional conduct.

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Passing your PMBOK PMP Exam is not all about mastering the PMBOK syllabus – you need exam skill ‘secrets’. Sure you’ll need some time management too, but there is an art and science to exam-taking – so learn how to do that here, and romp through your PMP exam at first try!

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Passing your PMBOK PMP Exam is not all about mastering the PMBOK syllabus - you need exam skill 'secrets'. Sure you'll need some time management too, but there is an art and science to exam-taking - so learn how to do that here, and romp through your PMP exam at first try!

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