Simple-PDH

Study. Learn. Earn. Simple.

PDU

Teaching and Learning

Recently, an acquaintance phoned me at about 9 am on a Wednesday. While I’m not 100% sure why, she asked if she had awoken me out of bed.  I’m assuming that because I work from home, she made a leap of judgement that I don’t really work and I get to sleep in every day.

The truth is that I’m usually working by 6:30 am and I often work past 9:30 pm.  Like others who have home offices, my breaks might include throwing a load of laundry into the washer or going running, but my work is equally intense.  In fact, I plan to continue teaching at the university and college level until I am too old or infirm to continue.

Teaching can be done from home for any online class.  A professor could ostensibly wear pajamas and slippers as office dwellers and offhand acquaintances might assume.  In my case, I shower and dress daily and when I make the short commute from the kitchen to my office, I enter my office with the same dedication to work as anyone else.  In this way, I can maintain a high commitment to education of students, colleagues, and clients.  I am as dedicated to being a good teacher as I am to being a good learner.

Teaching as Lifelong Learning

Teaching is the ultimate zenith in knowledge.  Not only do we have to understand a subject with both breadth and depth, we also have to be able to make the topic engaging enough for heterogeneous groups of students to find interest in the topic even for required, foundational classes.  Being able to restate learnings in a new way or apply knowledge to a new situation is what makes education successful – from both the teacher’s perspective and the student’s viewpoint.

What many students don’t realize is that teachers learn from them as well.  Every term, I find that there are new or unusual interpretations of homework assignments.  What seemed to be a clear cut question to the course designer can elicit a wide range of responses.  In some cases, the responses are so far off that the learning materials and homework assignments need redesigning to meet the course objectives.

Planning Learning

Learning events have to be as carefully planned as any college course.  First, the organization’s objectives need to be considered in full.  For a college or university course, the learning objectives typically align with a certificate or degree program, and are often specified by various accreditation bodies.  In corporate learning, our objectives must match a desired business outcome.  If a company wishes to improve its success with new product launches or increase communications among virtual team members, the learning event must include these results as success measures.

Key to a successful learning event or course includes application of the new knowledge or skill in the workplace.  Simply going to a class and having absorbed information is insufficient to demonstrate transfer of knowledge.  An important measure of success, then, tracks the student beyond the classroom to ensure that s/he is applying the skill in the real world.  Firms can measure the implementation of new skills via professional certifications and management surveys to determine that the learning event met corporate objectives.  Colleges and universities measure success by job placement and feedback from employees.

Education Delivery

While I get up every day, shower, and get dressed in real clothes before going to my office, learners today are cramming skills development into ever smaller parcels of time.  A student very well may be wearing his or her pajamas while watching an online lesson or be listening to a podcast during the daily commute.

Online knowledge delivery has changed how we learn.  Indeed, our attention spans as a whole have dropped precipitously.  Most of us remain engaged for less than 10 minutes.  So, education delivery must meet these parameters and still impart a new skill or behavior within each lesson.  All of our online courses at Simple-PDH.com include short videos or podcasts that can be consumed in brief intervals of time, yet each lesson delivers an important topic necessary to gain and maintain professional certification.

Knowledge Checks

Perhaps more important for professional certification and corporate training is a knowledge check that learning new skills has occurred.  Again, the measurement of knowledge transfer should be part of the organizational planning effort.  In the case of university students and candidates for professional credentials, knowledge checks include practice exams leading to the final, formal exam administered by the appropriate credentialing body (PMI, PDMA, or ASEM, for example).

Practice quizzes offer a risk-free environment to learners to hone their test-taking skills as well as verifying their knowledge base.  CAPM and PMP practice tests help to solidify the sometimes peculiar wording used by PMI that is not as common in an industrial project setting.  New Product Development Professional (NPDP) practice tests help to bring higher order strategic processes into focus with objective, application-oriented questions.

Teaching and Learning

We must all be committed to lifelong learning – whether we are working from a traditional office, a home office, or a student wearing pajamas!  Teaching is the ultimate demonstration of lifelong learning.  Both university and corporate learning event should start with extensive planning to ensure that course objectives, goals, and measures align with the desired business outcomes (e.g. job placement or improved results).

As students today, we demand on-the-go knowledge delivery.  Online courses deliver content that is engaging and brief.  Follow-up practice tests are recommended for those seeking professional certification.  And, yes, you can learn and teach while you are at work or at home!

Contact me at [email protected] or 281-280-8717 to enroll in a free NPDP overview course or any of our newly scheduled PMP, Scrum, or NPDP workshops in Houston as well as our online PDH courses.  At Simple-PDH.com where we want to help you gain and maintain your professional certifications.  You can study, learn, and earn – it’s simple!

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

A division of Global NP Solutions, LLC

Work-Life Balance

Depending from which generation you hail, your definition of “work-life balance” probably is quite different than your co-workers of another age.  Baby boomers stereotypically report to the office daily and value work above many other pursuits.  Gen X-ers (myself included) put as much energy into our time off work as we put into work.  Finally, Millennials are struggling to find out where the line is that seems to blur work and social life.

Regardless of your age and approach to work-life balance, it is true that all of us spend more time than ever connected to technology.  You know, that annoying habit of pulling out your smartphone to check a fact in the middle of a conversation.  Or asking Siri to identify the artist playing the background music at the coffee shop while you meet with an old friend.  And, of course, constantly checking email to see if the project work was done correctly while you were out of the office.  We certainly do rely on technology!

Technology for Learning

A second aspect of work-life balance is that we often stay connected in our off-hours so that we can get ahead.  While it is probably fruitless to imagine digging out from under the gigantic heap of bits and bytes that make up our cluttered inboxes, we can use technology to better manage our work tasks.  The calendar function is a great way to parse the day and schedule important activities.  In addition to project team meetings, you can use your calendar to block time for in-depth, quiet, strategic thinking and for personal growth.  My calendar is blocked Thursday starting a 3 pm for a networking event which will cover both items (quiet time for thinking during the drive to and from the event location, and personal growth by meeting new people at the event).

We also can use technology for learning.  Block time on a regular basis for building skills that will advance your career.  The amount and frequency of learning events will be a function of your educations and knowledge-building goals, but the time commitment needs to be regular and long enough to complete a new activity in each session.  Five minutes normally won’t cut it!  For new product development professional (NPDP) training, we recommend one hour per day for six weeks, with one day off each week.  Committing to learning new skills for a professional credential will reap huge rewards for personal and career growth.

Learning for Work-Life Balance

Learning a new skill can help us better balance work goals and find joy in our personal lives.  Career-oriented objectives often are only met through demonstrated commitment to our chosen profession.  Without a doubt, professional certification is rapidly growing and demanded by employers to show that you are absolutely dedicated and knowledgeable in the field.  Many job openings today require certification, such as Project Management Professional (PMP), to even apply for open positions.

Unless you let your certification lag (and we hope you don’t!), professional certification is yours.  You are equipped with the demonstrated education, knowledge, and experience regardless of your current job.  Professional credentials are portable and show your commitment to learning in the industry.  Most valuable certification require continuing education and your professional development hours (PDH) expand your skills to include emerging topics of interest and new best practices.  Learning is truly a lifelong endeavor.

As you learn and master new skills, you will find that it enhanced the work-life balance.  Your passion for your chosen career cannot help but spill into your personal life as you grow.  Leadership and team management skills are not limited to on-the-job implementation.  You can use leadership skills as Boy Scout Troop Leader, to organize a community garage sale, or to head a medical mission in Africa.  We all need continued improvement in our team skills to better manage new product development projects, engineering teams, or even sensitive family decisions.  Learning for career growth does not stop at the office door.

Using Time Wisely

While many of us check our work email as often as we check Twitter or Facebook, it is important to unplug.  Studies (CEP, March 2017) shows that the best workers actually take their annual vacation time, get enough sleep every night, and exercise regularly.  I tend to combine these pieces of advice and go hiking on vacation which leads to very restful sleep.

But, of course, we are not always on vacation.  In fact, most of the time we’re not.  Most of the time, we are striving to get better at what we do.  So, using the calendar function discussed above, along with the benefits of continuous learning, schedule time to gain or maintain your professional credentials.

For those that are already New Product Development Professional (NPDP), PMP©, or Professional Engineering Manager (PEM) certificates, you will need to commit at least two hours per month to on-going learning.  Some of that will occur during network meetings designed to bring together like-minded professionals.  However, re-certification for many candidates requires 60 PDHs every three (3) years.  You can supplement network meetings with easy-to-use online learning.

The advantage of online learning is that you can block one hour in your schedule every month for quiet time.  You can use downtime at the office, during your commute, or time at home.  Because online learning is easy to access on any platform, you can choose when and where to learn.  If you are seeking a new credential to advance your career, you will probably balance your home life against attaining new skills.  If your current employer actively supports educational initiatives, you can block one hour per day for six weeks to gain the necessary knowledge to back-up your work experience.  Online learning gives you flexibility to manage your own time against your own work, family, and leisure commitments.

Check out any of our online courses at Simple-PDH.com.  We know that work-life balance is important so we want to make it simple for you to study, learn, and earn your professional certifications.  For more information, please contact us at [email protected] or 281-280-8717.

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

A division of Global NP Solutions, LLC

Geyser Projects

old-faithfulRecently I visited Yellowstone National Park.  The geological wonders are so impressive that in the 19th century no one believed them to be real.  Instead, reports of boiling water, geysers shooting 200-ft high and petrified trees were considered the fantasies of mountain men alone too long in the wilderness.

Yet, the fantasies are actually true and we can witness the predictable eruptions of Old Faithful Geyser, for example.  Water and steam build and the surface begins to churn and bubble.  Soon a plume of water and steam rise above the land, higher and higher.  Then, the geyser slowly drains its power and the plume begins to shrink until the pool is generally left still and languid despite being steaming hot.

Projects are often managed like geyser eruptions.  The drama is almost predictable as the project falls behind schedule and costs begin to exceed the budget.  Clients and senior management begin to bubble and churn.  If nothing is done to correct the problem, the deviations in schedule and budget become larger and larger until a major eruption occurs.  Then, the project is re-baselined, tempers cool, and the project proceeds as before.  That is, until the next, predictable deviation starts the cycle of churning, boiling, and eruption again.

Project Controls

Project controls are designed for a project manager to recognize the early warning signs of scope, schedule, cost, or quality deviations.  Early recognition of problems allows the project team to address deviations before they result in catastrophic consequences.

Traditional project management uses Earned Value Management (EVM) to monitor and control project constraints.  A similar measure is also used in Agile project manager to ensure project progress is acceptable.  Most Agile projects increase the focus on scope by introducing a product owner role in which the customer is highly integrated into team activities.

What is EVM?

Earned value management (EVM) is a technique that is used by project managers to detect deviations from the project plan.  Early detection of variability in predicted project outcomes allows for earlier and better resolution of problems in executing the project.  EVM focuses on the schedule and budget, using deviations from the plan to trigger actions by the project team.

Variables in EVM

The key variables in EVM analysis are:

  • PV = planned value,
  • EV = earned value, and
  • AC = actual cost.

Schedule variance is indicated by a difference in planned value and earned value.  Hence, planned value represents the amount of work expected to be completed by a certain point in the project timeline.  Earned value, one of the more convoluted concepts, is the actual amount of work completed at that point in time.  Consider what the customer would be willing to pay for the product at that juncture as the earned value.

So, if a project is planned to be 25% complete after 16 weeks of work but is found to be only 20% complete, theevm1 schedule variance (SV) is negative and the project is behind the plan (SV=EV-PV).  A project hat is behind schedule will lead clients, customers, and senior management to begin bubbling and churning.

Cost variance (CV) is calculated by comparing the actual cost to the earned value (EV-AC).  In other words, the project manager will monitor how much money was spent to complete the work to date regardless of whether the quantity of work meets the plan or not.  Thus, if the actual cost was just 90% of the cost to create the objectives of the earned value (work completed), then the project is running ahead of its budget.  Senior management can cool down without an eruption!

Using EVM for Control

Of course, the project manager will need to troubleshoot and understand why the project has deviations.  During an initial ramp-up phase to get a project underway, small deviations in schedule and budget are anticipated.  However, once a full staff is assigned to the project, deviations from plan should be minor.  Trends indicating slippage of schedule or budget overruns must be addressed immediately.

When a project runs behind schedule, the project manager should evaluate staff skill sets and use training or hiring to improve project performance.  When a project runs over budget, the project manager should examine variable project costs and minimize overtime work.  In some cases, a trade-off between schedule and budget priorities will be necessary to deliver the project results within a quality framework.

Avoiding Project Eruptions

Project eruptions can be avoided and do not need to be predictable like Old Faithful Geyser.  A skilled project manager will use EVM tools to detect early deviations in schedule and variations in cost.  Early problem detection leads to faster and less costly resolution of issues allowing a project to deliver its scope on-time and on-budget.

You can learn about EVM and project cost management in a special online course with two professional development hours (2 PDUs / 2 PDHs).  See more at www.Simple-PDH.com under the course title Project Cost Estimating.  The course includes tip sheets and a downloadable certificate for you to maintain your credentials as a Project Management Professional (PMP®), New Product Development Professional (NPDP), or Professional Engineering Manager (PEM).  Online PDHs are affordable and convenient.  It’s simple to study, learn, and earn!

In the meantime, practice using early detection of problem areas in projects.  EVM is one tool and frequent communication with team members is another.  Good luck!

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

by Global NP Solutions, LLC

When is the Right Time for Learning?

catLearning a new skill or creating a new product from a nascent idea seem like complicated efforts. There have to be a lot of roles and responsibilities identified, we have to spend significant time with books and teachers, and the market must be just right. True, isn’t it? Well, maybe not.

Creating new products and learning new skills share some fundamental basic concepts. Fortunately, these concepts are pretty simple and don’t require lots of time and resources.

Curiosity

First, projects and learning share a foundation of curiosity. We have to be curious to learn how customers are using existing products, what problems they currently face, and which trends influence their decisions. Likewise, we must have a sense of curiosity to understand how we can improve our own skills, productivity, and efficiency. Learning starts with curiosity and wondering how to do a task better.

They say “curiosity killed the cat,” yet if you’ve ever watched a favorite pet approach something new, you understand curiosity for learning. Years ago, my kitten was curious about a big, stuffed bear I had set out as a Christmas decoration. He studied the bear from a distance. He didn’t get too close to the bear because he was unsure if the stuffed animal was friend or foe. Eventually, he lowered his body to look as small as possible and again studied the fuzzy, stuffed bear. Suddenly, he dashed out from behind a chair, whacked the bear solidly with his right paw, and ran back to safety behind the chair.

Of course, curiosity didn’t kill my cat and he finally made peace with the stuffed Christmas bear. He had to study and experiment to learn the bear was non-threatening. He also had to act on curiosity in the first place.

Timing

In both new product development and learning, timing is everything. New products can become superstars in a market if the timing is perfect or launch as an over-priced dud if the timing is wrong. Consider the recent rage for Pokemon Go, a huge hit because the timing was right. Yet, interest in golf as a sport today is waning. Society and trends favor some product trends while leaving others to wither.

Similarly, learning new skills must occur when we need the new skill. Our need for developing a skill may be driven by our curiosity of how something works or how to improve a product or service. When we show the curiosity to improve our productivity or efficiency, we need to have learning tools available at the right time.

We may learn from a trusted leader or mentor showing us how to conduct a new activity or task. We may also need to pursue learning a new skill through other means if we don’t have access to a skilled expert. Or, we may learn (like my kitten did) through study and experimentation.

Today, online learning is a convenient and affordable way to satisfy our curiosity about a subject. Online courses deliver quick instruction, including the fundamentals, to help someone get up to speed at the right time. We are also blessed with learning through a variety of devices and methods so we can not only learn a new skill at the right time but also at the right place.

Experimentation

The last element of commonality between a new product launch and learning a new skill is experimentation. experimentRemember my cat? He tested to see if the bear was friend or foe by whacking it with his paw. When the bear did not cry out, respond in kind, or even move, my cat conducted further experiments. He again ran to the bear and whacked it. After a few trials, he realized he didn’t need to retreat behind the chair. He stood a few feet away and observed the bear. After a few more (hilarious) whacks with his paw, my cat laid down a few feet in front of the now innocuous bear and took a nap. Though, he still did not trust his safety completely, he napped with one eye open, affixed to the stuffed Christmas bear in case of a future threat.

Cats might make laughable subjects of viral YouTube videos, but we can understand experimentation as a learning tool. Certainly, in new product development, we must experiment and test features and functions within a variety of potential customers. Trial of a minimally viable product can validate customer need and inform the new product development team of required design enhancements.

Learning, too, is informed by experimentation. We might try a specific task with our existing skill sets. If it doesn’t work, we will adjust and adapt our approach. Exercises, case studies, and formal tests all validate learning of a specific topic. Professional certifications, like New Product Development Professional (NPDP) and Project Management Professional (PMP®), allow for experimentation by applying industry-wide theory and best practices to your specific situation.

Learning at the Right Time

Learning, like the commercialization of a new product, requires the proper timing. Timing of the learning event is preceded by curiosity to improve and to gain knowledge. Learning tools deliver the skills at the right time so that the new information can be applied on-the-job to enhance productivity and efficiency. And, learning requires experimentation to address specific problems with the tools and techniques assembled from practice and education.

If you’d like to learn more about new product development or NPDP Certification, please take a free class or join us for an in-depth, 2-day best practices workshop. We also offer on-demand learning that is quick, convenient, and affordable and is especially geared toward busy professionals that need to earn professional development hours (PDHs) to maintain their existing certifications. It’s simple to study, learn, and earn!

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

by Global NP Solutions, LLC

Leadership in Learning

learningI am huge believer in the strength of lifelong learning.  Learning allows us to connect with the new ideas born into the world on a daily basis and learning allows us to stretch our imaginations beyond any known boundary.  Without lifelong learning, our brains and bodies stagnate.  We will rot away in the muck of sameness and predictability.

Organizations need learning as much as do individuals.  There are new theories to test that may (or may not) improve productivity and efficiency.  Learning new ways to execute projects can save resources and motivate the workforce, for example.  Like individual learning, organizational learning must be a continuous passion.  However, organizational learning must be exemplified by leaders.

Leadership

Leaders are very different than managers.  Most of us are familiar with the old adage that “managers manage things and leaders lead people.”  Yes, that’s true.  Yet leadership is more than directing the people on a team.  Leadership involves inspiring others to achieve greatness.  It involves helping your team members to stretch beyond their capabilities to create bigger and better solutions to age-old problems.  Leadership demonstrates a vision and the pathway to reach faraway goals.

Leaders don’t just dream about a different future.  They also put in place mechanisms and tools to build that exact future.  A leader doesn’t have the technical solutions in his or her back pocket but he or she can encourage and motivate the team to find designs and to develop solutions that create a better world for all of us.  Leaders inspire, motivate, and encourage even when the chips are down.

Leading by Example

Leaders are just managers if they don’t have natural followers.  Often, leaders can be compared to managers by their actions.  A manager dictates work by command and control.  She will tell her team members what to do and check to see if it gets done.

Leaders, on the other hand, will stand beside the team member to learn the task and to identify a solution.  He is not afraid to get his hands dirty seeking a better way.  Leading by example is a fundamental characteristic of successful and inspiring leaders.

Leading by example includes lifelong learning.  Leaders that read and share new information, concepts, and theories demonstrate that learning is important.  Team members will follow that example and also read to share new information, concepts, and theories that they encounter.  Shared experiences are a key to successful team growth as the team members collectively find new solutions to project problems or technical challenges.

Learning Together

Leaders also demonstrate a commitment to lifelong learning through continued professional development.  InLeadership today’s busy world, many careers demand that workers hit the ground running when they are hired for a new job.  Professional certifications like Project Management Professional (PMP®), New Product Development Professional (NPDP), Scrum Master (SCM™), and Professional Engineering Manager (PEM) also demonstrate a commitment to lifelong learning.  Professional certification demonstrates education, experience, and subject matter knowledge exemplifying technical and market leadership.  Many jobs today require applicants to hold such professional credentials to validate their skills and capabilities as well as to demonstrate the candidate’s leadership competencies.

Teams can learn together to expand their skills in these fields.  PMP exam prep training and Scrum Master training are great classes for teams to take together to learn a common vocabulary and approach to problem-solving.  Simple-PDH.com offers a company discount for PMP Boot Camps, next scheduled for 26-30 September 2016 in Houston, Texas.  You’ll earn 35 professional development hours (PDH) in this course as well as be prepared to pass the PMP exam on the first try!

NPDP training is also well suited for innovation teams.  The course presents a common framework and best practices for teams engaged in radical innovation and applied R&D.  Our next NPDP face-to-face class is scheduled for 12 & 13 October 2016 in Houston, Texas.  You’ll earn 16 PDHs during this intense learning workshop.

Leadership in Learning

Leaders exemplify the behaviors they want their teams to demonstrate.  Lifelong learning is foundational to long-term organizational success.  Great leaders not only encourage and share learning with their teams, they also practice lifelong learning through professional development.  For more information on gaining and maintaining professional certifications, please contact us at [email protected] or by phone at +1-281-280-8717.

 

Study. Learn. Earn. Simple.

Simple-PDH.com

by Global NP Solutions, LLC

Project Management Knowledge Areas

project managementProject managers are responsible for the completion of projects during a given time period ad with limited resources.  Projects are temporary endeavors creating a unique product, service, or result.  The work may be tangible as in a construction project with a new building as the result.  Other projects create value through less tangible outcomes by creating software code or other services.

The 5th edition of the PMBOK™ (Project Management Body of Knowledge) identifies ten (10) knowledge areas that help a project or engineering manager ensure that all aspects of a project are covered.  Proficiency in each of these areas can make the difference between a smoothly run project and one in which change and chaos rule.

1.       Stakeholder Management

Stakeholders are all parties with a vested interest in the project.  They may positively support the product, service, or result of the project or they may actively oppose the effort.  Regardless, a project manager should have a plan in place to understand all stakeholder needs and how to best communicate with them on a regular basis.

2.      Project Scope Management

The scope of a project explains what work needs to be done and why.  Much of the upfront planning work of a project focuses on the development and understanding of the project scope.  A key artifact, called the work breakdown structure (WBS), decomposes the high level expectations of the project (scope) into smaller, more manageable work tasks.  The WBS includes all of the work, and only the work, of the project.

3.      Project Time Management

Sometimes, the schedule of a project is the most important element of success.  Delivering a product on-time to meet a narrow market window is crucial to success for innovation and new product development projects, for instance.  In other cases, when a project misses deadlines, there are contractual or financial penalties.

Project Time Management translates the WBS or scope of work into a reasonable schedule of work.  The schedule will take into account resource availability, capacity, and capability.  Time or schedule trade-offs often must be balanced again budgetary concerns.

4.      Project Cost Management

Even internal projects have a cost associated with them.  Project resources may be assigned to one project over another, so an opportunity cost is naturally incurred by choosing a specific project.  Moreover, the cost of a project must be measured against its expected benefits.

Getting the costs right is one of the biggest challenges for project, product, and engineering managers.  Check out our course on Cost Estimating at www.Simple-PDH.com to learn more and earn two (2) professional development units (PDUs).

5.      Human Resource Management

No project work is done without humans doing the work.  Most projects require a set of skilled and talented knowledge workers to design and develop the systems and sub-systems required of a project.  Laborers and tradespeople are necessary to build and manufacture the tangible outputs of a project.  Project Human Resources Management encompasses the tools and techniques that a project manager can use to assemble, train, and manage a project team throughout the execution of a project.

6.      Communications Management

commManaging stakeholders and team members requires a set of communication tools to effectively balance project work and convey project status or needs.  Communications management includes an analysis of who needs what information when and how often.  Managing communications for a project is a key responsibility for the project manager and s/he needs to be aware of the different styles and types of communication that will effectively express the right messages at the right time.

7.      Risk Management

Project work always involves some degree of risk or uncertainty.  Understanding risk triggers and potential responses is an upfront planning activity for the project team.  Yet, risk management is also required throughout the life of a project as uncertainties become specific events and as other risks pass without occurrence.  Project managers should develop a flexible risk management plan that is supported by the project schedule and cost management plans.

8.      Quality Management

No project can be deemed complete if it does not meet the requirements of the customer or client.  Quality Management is integrated throughout the project.  A high quality project plan can lead to better results.  Mastering quality during construction or implementation leads to a satisfied customer.  There are seven traditional quality tools to help project, product, and engineering managers plan, design, and execute effective and efficient projects to deliver quality results.

9.      Procurement Management

In today’s complex world, no project is self-contained.  We must procure equipment, parts, and services in order to complete the work.  Procurement management interfaces with all other project management knowledge areas to describe what and how vendors are selected, which sub-systems they will provide, and how much the procured products or services will cost.  Procurement includes managing a variety of contracts and agreements.

10.  Integration Management

Perhaps the most important knowledge area in project management is Project Integration Management.  This is the place where all project management plans and limited resources come together.  The project manager coordinates work across the many functions and teams through Project Integration Management.  The project manager also makes decisions for project changes within project integration management by evaluating the impact on each arena of the project, especially focusing on the scope, time, and cost of the project.  A successful project requires successful integration and synthesis across all knowledge areas and activities of the project.

Project Management Knowledge

To learn more about the project management framework, please contact us at [email protected] for a free course on Project Management Professional fundamentals.  (Please put “Free PMP Demo” in the subject line.)  To learn more about project and product management activities, please join us for a PMP Boot Camp or NPDP Workshop.  You may also be interested in quick refresher course to earn PDUs or PDHs.  It’s quick and affordable.

Every course at www.simple-pdh.com includes study guides, videos, practice tests, and expert instruction.  It’s simple to study, earn, and learn!  Understanding and applying the ten (10) knowledge areas is a must for successful project planning and execution.  Good luck in your project adventures!

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

A division of Global NP Solutions, LLC

Cost Estimating

doomed projectProduct, project, and engineering managers are faced with many tasks on any given day.  We must manage people, technologies, and the project itself.  Stakeholders need to be frequently updated on the status of the project including utilization of resources, progress toward deliverables, and tracking of the schedule and budget.

Yet, many project managers are appointed to the position based on a strong technical background or because they are effective in leading complex teams.  Most project managers have not been directly exposed to managing a budget or schedule.  Of course, the client and the sponsor measure success through meeting project goals, including the plan for on-time and on-budget delivery of project results.

Budget Skills for Project Managers

Project managers can learn how to prepare a budget in several ways.  Sometimes, senior management will assign a specific budget for the execution of given project work.  In this case, the project manager is doomed.  There needs to be significant input, give-and-take, and understanding of tasks and deliverables in order for an appropriate budget to be determined.  Frequently, senior executives will underestimate the required work – and cost- of a project because they are far removed from day-to-day operations.

In other, more favorable cases, the project manager will work with the assigned project team and sponsor to formulate a viable project budget.  While estimating project costs is iterative by definition, sponsors and clients will often hold the budget to the first number they hear.  Naturally, project managers are in a difficult position.  Project work is often not detailed enough in an early stage to give an accurate cost outlook but padding the number could cause the project to look too expensive and lead to its cancellation.

Learning about Cost Estimates

Many product and engineering managers have not been formally exposed to budgeting and accounting practices in their technical or educational background.  One way to gain skills in planning projects is to understand basic project management principles.  Project Management Professionals (PMP®) are certified by the Project Management Institute and learn industry-wide best practices in initiating, planning, executing, monitoring and controlling, and closing projects.  Cost and schedule estimating tools and techniques are described as part of the detailed planning process.  Product and engineering managers will also learn flexible and agile methods for lean product development, including how to estimate the cost of a specific project while the work is still not fully determined.  Iterative and rolling wave planning are tools that can help a project manager optimize and balance detailed cost estimates for the near term with longer term forecasts.  PMP Boot Camps and New Product Development Professional Workshops will help project, product, and engineering managers learn these tools for the first time or provide a timely refresher to continue to build career skills.

For those that just need a refresher on cost estimating, Simple-PDH is offering a new, two-hour course on Cost Estimating.  We start with the basics of creating a plan that balances scope, schedule, and budget.  Specific types of cost estimates and types of costs (direct, variable, etc.) are described so you can immediately jump into the budgeting process.  The Project Cost Estimating course will earn two (2) Professional Development Hours (PDH, PDU, CEU) for you to maintain your PMP, Scrum, NPDP, PEM certification(s).

Learn More

To learn more about integrating cost estimating techniques into project and product management activities, please join us for a PMP Boot Camp or NPDP Workshop.  You may also be interested in the quick refresher course to earn PDUs or PDHs.  It’s quick and affordable.

Every course at www.simple-pdh.com includes study guides, videos, practice tests, and expert instruction.  It’s simple to study, earn, and learn!  Contact us at [email protected] for more information.

Study. Learn. Earn. Simple.

© Simple-PDH.com

A division of Global NP Solutions, LLC