Simple-PDH

Study. Learn. Earn. Simple.

professional development unit

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 info@Simple-PDH.com 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

Project Management Contract Types

Project managers play an integral role in selecting third party vendors to perform work on projects.  It is no realistic, in most cases, to complete projects with only internal resources.  Additional skills can be accessed via outsourcing and often provide specialty services that are unavailable otherwise.

While procurement, purchasing, and legal departments normally take the lead in contract negotiations, project managers need to also take an active role in procuring third party materials and services.  After all, the project manager will be integrating the work of the vendor or supplier with all other aspects of the project.  This includes understanding the scope, schedule, cost, quality, and risk of the third party work.

Contracts

Contracts are used in projects to outline the legal responsibilities of the seller and the buyer.  The seller may be also identified as the vendor, supplier, or third party.  The buyer may be identified also as the customer, client, or sponsor.

A contract is a legally binding agreement in which the seller agrees to provide labor, equipment, materials, or other services in exchange for some form of payment.  The buyer agrees to pay the seller for the work provided; usually, the payment is made in monetary terms (e.g. $10,000 or 10,000 €).  However, in some cases, exchange of valuable goods may be made in lieu of money.  For instance, the right to license a process or access to patent-protected technology may be considered a valuable exchange by the buyer and seller in a contract.

It is important to keep in mind that a contract is a legally binding agreement.  Normally, the terms and conditions will state the jurisdiction of law under which the contract will be executed.  This may be stated as “according to the laws of the State of Texas” or in discussing mediation if the parties later disagreed upon the service rendered or payment received.  Thus, third party agreements should not be treated casually.

The Basic Contracts

Project, product, and engineering managers should be familiar with the three most common types of contracts.  While there are variations on these types of contracts that add risk or may reduce cost, most project managers can participate in a technical negotiation with a clear understanding of these basics.

Fixed Price Contract

The firm fixed price contract is used when the buyer can explicitly describe the materials, equipment, or services to be acquired.  The buyer agrees to a specific price (“fixed”) and the seller agrees to provide the goods and/or services.

A fixed price contract is of little risk to the buyer because there is no room for variation in the price of the goods or service being procured.  Of course, project, product, and engineering managers will prefer this type of contract since it allows a firm budget estimate.  However, the project manager must be extremely clear in describing the full scope of work in the contract as the seller will be constrained to provide exactly what is stated in the contract.

In a fixed price contract, the seller is at a greater degree of risk than the buyer.  Many factors can impact the completion of the work as specified that may add cost to the project work.  For instance, an unexpected period of high inflation or a labor shortage that drives up wages can impact the cost of the work that the seller provides.  Furthermore, if the seller underestimates the scope of work, they are still legally obligated to provide the agreed-upon work product, even at a financial loss.

Both the buyer and seller will be particularly attentive to changes in a fixed price contract.  The seller will view the contract as a minimum standard.  Anything that the buyer requests that is not explicitly called for in the contract may be considered a change.  Change orders are often expensive and can introduce schedule delays as well.  Again, it is important for the buyer to be familiar with the work and to provide a detailed scope statement to avoid eth potential of costly changes later.

Cost Reimbursable Contracts

Cost reimbursable contracts typically involve more risk for the buyer than the seller.  In this type of agreement, the seller is reimbursed for all actual costs as they are incurred.  Usually, the seller will invoice the customer on a regular basis, say weekly or monthly.

A buyer has more risk with a cost reimbursable contract than in a fixed price contract because the total cost of the work is not predetermined.  Sellers may incur more overhead costs using this type of contract since they will spend more time justifying expenses to the customer.  Buyers normally protect against financial risk by requiring specific documentation for costs incurred and/or by including a price cap within the contract terms and conditions.

A cost reimbursable contract is useful in situations where the end result in unknown.  This might be the case for a research study or if the scope of work is unclear.  For example, a home remodel project may involve uncertainties regarding the condition of subfloors, piping, and supports.  In other situations, the end product may be ill-defined due to the nature of the work, such as in new product development where customer inputs will guide decisions throughout the project life cycle.

Evaluation of fixed price contracts is easy.  Normally, a buyer will choose the lowest bid.  Cost reimbursable contracts must be evaluated based upon estimated total costs as well as other factors.  These can include approach to the work, experience, past performance on similar projects, and/or technical and management capability.  A vendor-customer relationship built on trust will enhance the execution of a cost reimbursable contract.

Time and Materials Contract

Finally, a time and materials contract is a hybrid between a fixed price and cost reimbursable contract.  Materials, equipment, and supplies are provided at a fixed (known) price while labor is reimbursed as necessary to complete the project work.  An example of a project in which a time and materials contract might be used is in venture software installation.  The cost of the software licenses is fixed (e.g. $300 per user) but operating system upgrades, testing, and data transfers are variable.  Like a cost reimbursable contract, buyers often include a price cap for a time and materials contract.

Procurement Contracts

Project managers should be involved when contracts are negotiated for third party work.  Technical specification and requirements are the responsibility of the project manager during negotiations.  Moreover, the project manager has a vested interest in the delivery schedule and cost of outsourced project work because it must be integrated with all other project activities.  Third parties also introduce special concerns regarding risk, quality, and communication – areas which are key responsibilities for a product, project, or engineering manager.

Project procurement is one of ten (10) knowledge areas covered on the Project Management Professional (PMP™) exam.  If you are planning on becoming certified, you will want to consider a PMP review course and/or practice tests.  Candidates who prepare with a PMP training course are more likely to pass the exam on the first try.  Join us for online study sessions – contact me at info@Simple-PDH.com or 281-280-8717 for more information on our next available study session.

Contract management is a key responsibility for product, project, and engineering managers.  Be on the lookout for a special PDH course on contract management where you can refresh your skills, learn new tools, and earn professional development hours (PDH).  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

Learning is Important (and Sometimes Urgent)

President Dwight D. Eisenhower is quoted as saying, “I have two kinds of problems:  the urgent and the important.  The urgent are not important and the important are never urgent.”

Most of us can identify with Ike’s predicament.  We face a lot of tasks in our daily work that need to be done but are not necessarily value-added to advance our careers.  And we tend to put off the important learning activities that will grow our self-confidence and career knowledge in exchange for solving immediate problems.

Ike’s Four Categories

If we dissect the Eisenhower Principle and apply it to our calendars and to-do lists, we will find, perhaps, time to dedicate to personal growth and still be able to help others achieve their goals.

Important and Urgent

Important and urgent tasks are those that help us grow in knowledge and are recognized as developing our careers.  For example, responding to a short deadline request for your consulting services is an important and urgent task.  Addressing a quality deviation on the production line is important and urgent.  These tasks should take a high priority on our calendars and to-do lists.  It is also helpful to review the outcomes of important and urgent tasks through reflection to improve our performance next time.

Important but Not Urgent

Activities that are important but not urgent typically have a longer term payoff.  These may include attending networking meetings or trade conferences.  Often we delay the important but not urgent tasks because there is not a deadline for the activity.

Of course, creating an artificial deadline can spur us to moving the important but not urgent tasks to a higher priority.  Professional development frequently falls into the category of important but not urgent, yet most professional certifications require professional development hours (PDH) for renewal to maintain the credential.  Instead of waiting until the last minute to try to cram in 40 or 60 hours of study, set a target of completing at least 5 hours every quarter.  In this way, you meet the requirements, but crucially, you gain useful knowledge on an ongoing basis to build your professional toolkit and reputation.

Urgent but Not Important

One of the reasons we push off the important but not urgent tasks is we choose to spend our time on urgent but not important activities.  These tasks may be necessary to keep our jobs but should be minimized as much as possible.  Generally, the urgent but not important chores do not require our strangest capacity of focus or concentration.  In Cal Newport’s book, “Deep Work,” he recommends blocking these type of tasks together.  For example, you can do email, respond to LinkedIn messages, and re-tweet relevant business information when your energy and focus are at a low point.  You should save your highest energy for the most important tasks.

Not Urgent and Not Important

These time-wasters should be eliminated if at all possible.  Items that fall into the not urgent/not important category include much of our email, Facebook, and surfing the internet.  You can purge non-relevant email by unsubscribing from lists and newsletters, and by creating “rules” to handle and segregate urgent or important email from one-way, informational communications.  In “Deep Work,” Newport recommends replacing the shallow relationships on Facebook with deeper meaning and understanding with friends over lunch or by engaging in the arts.

Learning is Important and Urgent

While we often categorize learning as an important but not urgent task, gaining professional knowledge and certifications should be both important and urgent.  Most professional credentials result in higher salaries and increased responsibility on the job.  Treating learning as a task that is not urgent means you are not assigning it the same priority as responding to email or attending a meeting.  While these activities are required to sustain your current position and to satisfy your boss, you must also consider your own personal growth plan to advance your career.  Then, learning becomes both important and urgent!

You can take the first step to advancing your career with a professional credential as a New Product Development Professional (NPDP) or a Project Management Professional (PMP™).  Learn about professional development 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!  Please also feel free to contact me at info@simple-pdh.com or 281-280-8717.  Remember learning must be important and urgent!

 

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 info@simple-pdh.com or 281-280-8717.

 

Study. Learn. Earn. Simple.

© Simple-PDH.com

A division of 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

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 info@simple-pdh.com 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 info@simple-pdh.com for more information.

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