Scribd
Upload
67 views

PMP Basics Notes - 22nd May 2024

This is notes for pmp course

Uploaded by

trialtesttech
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
67 views

PMP Basics Notes - 22nd May 2024

This is notes for pmp course

Uploaded by

trialtesttech
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

PMP Basics

Project Management: Project management is application of knowledge, skills, tools and technique to
project activities to meet project requirements

There are six constraints of project management:


1. Scope
2. Time
3. Quality
4. Cost
5. Risk
6. Resource

Project Life Cycle:


1. Initiation
2. Planning
3. Execution
4. Monitoring
5. Closure

Initiation:
Initiation is the step for checking the feasibility and measuring the worth of the project.

Planning:
The Planning phase includes making a blueprint for achieving the project’s objectives.

Execution:
The execution phase involves the allocation of resources and making of the deliverables.

Monitoring:
The Monitoring involves Project Manager manager monitoring and controlling the working of the project.

Closure:
The closure is the final stage of the project, where everything, including what went wrong and what went
right all through the process is summed up.

Key focus area in Project Management


1. Scope
2. Schedule
3. Cost
4. Quality
5. Resources
6. Stakeholders
Scope: It refers to the inputs provided to take the project from the first step to the last step. The scope
determines the features, boundaries, budget, and deadlines of the project.

Schedule: The schedule is a plan for performing a specific work within a time interval and achieving the
desired objective. The schedule refers to the starting date, the finishing date, and the duration of the
project.

Cost: Cost refers to the process of estimating, allocating and monitoring the funds needed in a project.
There are actions taken now and then in the project to ensure that the project is on the budget.

Quality: Quality refers to what a customer or the stakeholder requires from the deliverables. Quality
includes processes and activities that are to be performed to meet the objectives and requirements for
which it was undertaken.

Resources: Resources helps carrying out a specific task in the best possible manner. Resources can be
people, equipment, funds, facilities or anything else that is needed to meet the project requirements.

Stakeholders: Stakeholders are the one who has interest in the deliverables of the project. Stakeholders
can be a part of a project team, project manager, project sponsor, customers, or users.

Communication: Communication amongst all the stakeholders is an essential aspect of project


management for successful project execution. Improving communication increases the ratio of success
and decreases the probability of risks.

Risk: A risk is an unexpected event that can affect anything in a project, people, technology, processes or
resources. Every project has a certain amount of risk, and to be a successful project: one must first
identify those risks to deal with it efficiently.

Procurement: It refers to the act of procuring all the services and materials that are needed to meet the
project goal. Procurement includes the need to purchase, rent, or contract with some external resource.

Critical Success Factor: Critical Success Factor refers to the elements that are necessary for an
organization to achieve the project’s objective. Critical Success Factor may differ from one organization
to another, depending on their respective goals.

Deliverables: Deliverables refer to the output within the scope of the project. There can be one more
deliverable within a single project; these deliverables may be the items that are to be sent externally to a
customer or a stakeholder.

Work Breakdown: It is an efficient deliverable approach that refers to the division of a task into smaller
components. The smaller parts make the task-independent and more manageable for the team.
Project Management Certifications:
1. Project Management Professional (PMP)
2. Agile Certified Practitioner
3. Certified Associate in Project Management
4. Certificate Scrum Master
5. Projects in Controlled Environment

You might also like