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Project Management Guide: Tips, Strategies, Best Practices

Project management is a complex area with sufficient key phases, areas of knowledge, and terminology. Glossary.. To simplify the key components of successful project management, CIO.com provides the following comprehensive guide to project management, including tips, strategies and best practices.

Definition of project management

Project management is a business area that involves applying specific processes, knowledge, skills, techniques, and tools to successfully achieve project goals and deliverables. Project management professionals apply processes and methodologies to plan, start, execute, monitor, and end all activities associated with a particular business project in line with the organization’s overall strategic goals. Promote, guide, and implement value-added goals identified by.

Project management methodology

Choosing the right project management method (PMM) is an important step to success. There are different approaches to managing a project, and in some cases duplicate approaches. The most popular PMMs in practice today include waterfall, agile, hybrid, critical path method, and critical chain project management. AgileIncludes subvariants such as Lean and Scrum are becoming more popular and are used in virtually every industry. Originally adopted by software developers, Agile uses a short development cycle called sprints to focus on continuous improvement in the development of a product or service.

PMO and EPMO

Successful organizations codify project management efforts under a comprehensive organization. Project Management Office (PMO) Or Enterprise Project Management Office (EPMO)..

A PMO is an internal or external group that sets the direction and maintains and guarantees the status of standards, best practices, and project management across the organization. PMOs have traditionally not played a leading role in coordinating strategic goals.

The EPMO has the same responsibilities as a traditional PMO, but with the addition of important high-level goals. To align all project, program, and portfolio activities with your organization’s strategic goals.. Organizations are increasingly adopting EPMO structures. This allows project, program, and portfolio managers to participate in strategic planning sessions from the beginning to increase the success rate of their projects.

Both PMOs and EPMOs help organizations apply standard approaches to project management. When setting up a standard approach, PMOs and EPMOs have the following advantages:

  • Project team basic rules and expectations
  • A common language for project managers, functional leaders, and other stakeholders to facilitate communication and fully understand expectations
  • Higher level of visibility and accountability across the organization
  • Increased agility in adapting to other initiatives and changes within the organization
  • Ability to identify the status of tasks, milestones, and artifacts
  • Relevant key performance indicators for measuring project performance

Project management certification

Successful projects require highly skilled project managers, many of whom have formal training or project management qualifications. Some have professional qualifications in project management and other qualifications from PMI or other organizations. Project management certification includes::

PMI certification

Other project management certification

  • CSM: Certified Scrum Master
  • CompTIA Project + Certification
  • PRINCE2 Foundation / PRINCE2 Practitioner
  • CPMP: Certified Project Management Practitioner
  • Project Management Associate
  • MPM: Master Project Manager
  • PPM: Project management expert
  • PMITS: Project management in IT security
  • Certified Project Director

See some details Top project management certification pursued in 2020 Or later.

Project management tool

Project management software and templates increase team productivity and effectiveness, and prepare your organization for the changes brought about by influential projects. CIO.com Ultimate project management toolkit Not just some Open source tools Helps you plan, execute, monitor and successfully refine your next high-impact project.

Project management software falls into several categories. Some tools are categorized as project management software.Others are, for example, more comprehensive Project Portfolio Management (PPM) software.Some are more suitable For small businesses Other for large organizations. Project managers also often use task management, schedule management, collaboration, workflow management, and other types of tools.These are just a few examples Project management software and tools It can be used to simplify project management.

Some of the most popular project management tools are:

Project management skills

An effective project manager needs more than technical know-how. This role also requires some non-technical skills, and it is these softer skills that determine the success of the project manager (and project).Project manager must have These 7 non-technical skills: Leadership, motivation, communication, organization, prioritization, problem solving, and adaptability.It is also beneficial to have strategic thinking, have Change management and organizational development Expertise, agility, and conflict resolution capabilities, and other skills.Presenting Data effectively is also a vital skill for project management success. Using tools like attractive PowerPoint templates can help project managers organise and showcase their project findings in a visually engaging and concise manner.

Project management work and salary

According to PMI, the demand for project managers will increase to 87.7 million by 2027, but not all of these hires will be in project manager positions. The more common positions are project managers, program managers, or portfolio managers, but each role may vary by industry or discipline. It also has roles such as coordinator, scheduler, and assistant project manager.

Project managers have earned high salaries of more than six digits, depending on their role, seniority, and location.Indeed, it provides a searchable list of job salaries, including several years Project management salary Companies offer these roles.

  • Project Manager: Base Salary $ 85,311, Bonus $ 13,500
  • Program Manager: $ 85,796
  • Portfolio Manager: $ 100,000
  • Software / IT Project Manager: $ 106,568
  • Project Manager: $ 62,093
  • Project Planner: $ 69,528
  • Project controller: $ 90,342
  • Document controller: $ 74,899
  • Project Leader: $ 130,689
  • Program / Project Director: $ 101,126
  • Program / Project Director: $ 128,827

Project management phase and process

Project management can be divided into five phases or life cycles. Each phase intersects with one of 10 areas of knowledge, including integration, scope, time, cost, quality, human resources, communications, risk sourcing, and stakeholder management. Phases, processes, and related areas of knowledge provide a systematic approach for project managers and their teams to process projects, with the following overview:

Start phase:

  • Integrated management: Create a project charter.
  • Stakeholder Management: Identify stakeholders.

Planning stage:

  • Integrated management: Create a project management plan.
  • Scope management: Define scopes, create work breakdowns (WBS), and collect requirements.
  • Time management: Plan and develop schedules and activities, and estimate resources and timelines.
  • Cost management: Estimate costs and determine budgets.
  • Quality control: Identify quality requirements.
  • Human Resources Management: Plan and identify human resource needs.
  • Communication management: Plan communication with stakeholders.
  • Risk management: Perform qualitative and quantitative risk analysis to plan risk mitigation strategies.
  • Procurement Management: Identify and plan the procurement you need.
  • Stakeholder management: Plan stakeholder expectations.

Execution phase:

  • Integrated management: Directs and manages all project work.
  • Quality Control: Performs all aspects of quality control.
  • Human Resources Management: Select, develop, and manage project teams.
  • Communication management: Manage all aspects of communication.
  • Procurement Management: Secure the required procurement.
  • Stakeholder Management: Manage the expectations of all stakeholders.

Monitoring and control phase:

  • Integrated management: Monitor and control the work of your project and manage the changes you need.
  • Scope Management: Validates and controls the scope of your project.
  • Time management: Manage the scope of your project.
  • Cost management: Managing project costs.
  • Quality control: Monitor the quality of deliverables.
  • Communication management: Monitor communication between all teams and stakeholders.
  • Procurement Management: Stay on top of what you need.
  • Stakeholder Management: Take ownership of stakeholder involvement.

End phase:

  • Integrated Management: Closes all phases of the project.
  • Procurement Management: Finish all project procurement.

Stakeholder expectations

Stakeholders are any individual or group that has a vested interest in the success of a project, program, or portfolio, including team members, functional groups, sponsors, vendors, and customers. Expectations of all stakeholders need to be carefully identified, communicated and controlled. Missing this can lead to misunderstandings, conflicts and even project failures.

Here are some tips for managing stakeholder expectations.

  • Organize teams that are specific to your project goals and ensure the right combination of skills and knowledge provided by team members.
  • Before starting the project, leave enough time before the project for key individuals to delve into and discuss issues and goals.
  • Make sure that your project’s timeline and scheduled tasks are realistic.

Project management role

Depending on many factors such as industry, project nature and scope, project team, company, or methodology, a project will require the assistance of schedulers, business analysts, business intelligence analysts, functional leads, and sponsors. It may be. This is a comparison of the three major roles within the PMO or EPMO. All of these are in high demand for leadership skill sets.

project manager: Take a leading role in planning, executing, monitoring, controlling, and terminating individual projects. An organization can contain one or more project managers.

Program manager: Oversee and lead a group of similar or connected projects within your organization. Usually one or more project managers report to the program manager.

Portfolio manager: This role is at the highest level of PMO or EPMO and is responsible for overseeing the strategic coordination and direction of all projects and programs. Program managers typically report directly to the portfolio manager.

Project scope

At the planning stage You need to solidify the details of every projectIncludes goals, deliverables, prerequisites, roles, tasks, timelines, budgets, resources, quality aspects, conditions and more. Before starting the project, the customer and key stakeholders work together to consolidate and agree. Scope guides the work of the project, and changes to the project’s scope must be presented and approved as a scope change request.

Project budget

Budget plays a big role in whether a project progresses or can be completed. Few companies have an unlimited budget, so the first thing project stakeholders consider when deciding whether a project succeeds or fails is revenue. This fact puts pressure on project leaders and their teams face every day. As such, effective budget management is a major focus for career-focused project managers.The following is Five Strategies for Maintaining Project Budget Control Before it succumbs to tremendous cost overruns:

  • Understand the true needs and wants of stakeholders
  • Surprising budget
  • Create related KPIs
  • Revisited, reviewed, repredicted
  • Inform everyone and be accountable

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Project Management Guide: Tips, Strategies, Best Practices

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