Fundamentals of Project Management

Course Code

MGT-550

Duration

3 Days

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Target Audience

Managers and staff who manage and contribute to projects of any size and duration. This course is especially useful for those with no formal project management training, as it builds up the project management process from the fundamental principles.

Overview:

The course is designed for managers and staff, from a broad spectrum of industries, involved in different types of project work.

It explains the fundamentals of managing any project. Delegates will learn how to manage and coordinate projects. In the current fast-moving business environment, crisp project controls are essential if expensive blunders are to be avoided. Delegates will learn the techniques and procedures that reduce risk, cut down on stress, and how to utilize the strengths of others.

They will also learn to appreciate and understand the importance of people as a key resource in project management.

Course Objectives

The program focuses on the following objectives:

1. Identify the key activities that must be managed to ensure project success.

2. Understand all the steps involved in developing a new project, from beginning to end.

3. Identify and understand the importance of key people in every project.

4. Learn and develop the skills to create a complete project planning document.

5. Learn how to establish project deadlines.

6. Learn and develop the skills associated with effective project quality management.

7. Know the processes required to achieve timely completion of a project.

8. Identify, assess, and control risk throughout your projects.

9. Identify the Estimated Monetary Value (EMV) of a risk.

10.Accurately identify the total project cost.

11.Measure the progress of a project and estimate the cost at completion, by using Earned Value Management (EVM).

12.Identify the key activities and components of successful project progress meetings.

Course Outline

Day One:

- What is ‘project management’?

- Features of a typical project

- The role of the project manager

- Project stakeholders

- Project success factors

- Stages of a project

- The project charter

• Scope statement

• Order of magnitude

• Assumptions

• Constraints

• Drivers

• Setting objectives

• Project feasibility

- Cost/benefit analysis and investment appraisal

• ROI (Return On Investment)

• Calculating Payback Period

• ARR (Annual Rate Of Return)

• NPV (Net Present Value)

• IRR (Internal Rate Of Return)

• DCF (Discounted Cash Flow)

Day Two:

- Identifying project risks

- Project approval

- Project plan

• Work Breakdown Structures (WBS)

• Activity matrix

• Network diagram

• Project time management

• Critical path analysis

• Gantt charts

- Templates for project presentations

- Project quality management

- Budgeting

Day Three

- Project risk management

• Probability

• Impact

• Risk magnitude

• Estimated Monetary Value (EMV)

- Project execution

- Project change management

• Scope change vs scope creep

• Project meetings

• Monitoring and understanding budgets

• Earned Value Management (EVM)

- Project close-down

- Negotiating basics in projects