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Business / Project Management

Project Management Success: Learn by Managing 8 Projects

Improve your skills by using the "hands on" simulation approach. Provides 35 Contact Hours requisite of PMI® (35 PDUs).

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Description

This practical course will improve your project management skills. You'll learn how the "hands on" approach can make you a better project manager. Learning by doing improves the learning process. It's also more engaging and fun. SandboxModel is a PMI Global REP. Learn and practice the most important project management skills in this comprehensive experiential course. Project Management Overview Scope Management Scheduling and Time Management Resource Management Budgeting and Cost Management Project Monitor and Control Risk Management Lean Project Management and Lean Enablers Content and Overview Ever wonder how successful project managers constantly achieve great results? They are experienced in the tools and techniques of project management. Einstein said that “the only source of knowledge is experience." The course includes eight units. Each unit covers a different project management area of knowledge and includes three parts: theory, walkthrough and a practical part with the award winning PTB simulator, developed at the Technion Institute of Technology. In this part you will simulate managing a project in the simulator while applying the theory. You will gain practical experience and learn how to complete successful projects. At the end of the course you will be able to use project management tools and techniques to deliver and manage projects that accomplish the goals and satisfy stakeholders.
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Curriculum

  • Project Management Overview
    Theory: Introduction to Project Management Concepts
    An introduction to project management. Including: An overview of project management concepts Definition of a project and of project management The main project management areas of knowledge Why is project management important How is project success measured The project life cycle Introduction to the PTB award winning simulator
    12:56
    Walkthrough: Demonstration of Basic Concepts
    This walkthrough demonstrates the different areas of knowledge with the PTB simulator. It uses a basic new product development project. The project or problem space has already been defined. The goal is to create a plan for the project. Once the plan is prepared the simulation time is advanced. We can see how the project is executed and how the decisions we make affect project outcome. Once the simulation is completed we can see our final score indicating our due date and cost performances.
    8:19
    Assignment: Managing a Basic Project
    This is the concluding assignment for the first unit. It includes Managing a simple project with the PTB simulator. The project does not have any random elements.. Run the same project from the previous lecture yourself. Familiarize yourself with the PTB, create a plan for the project and run the simulation until the project ends. To start select File, Open and select the file Elearning/Exercises/unit1.scn to reload the project.
    0:25
  • Scope Management
    Theory: Scope Management, Change Management and Scope Verificatio
    The lecture covers the theory of scope management: Types of scope The purpose of scope management Scope planning with the PTB Change management with the PTB QFD – the Quality Function Deployment Scope verification with the PTB
    13:02
    Walkthrough: Scope Management in Practice
    This lecture demonstrates Scope Management, in practice, with the PTB simulator. Each project has different system requirements. When we select how we’re going to perform our project, the quality is affected. When making changes to our project we have to check what the consequences and the impact on the system requirements are, as well as the consequences on the project duration and cost.
    6:28
    Assignment: Managing Scope and Quality in a Basic Project
    The assignment is to manage the scope and quality requirements in a simple project. Open the file ELearning/Exercises/unit2.scn and create a feasible plan for this project. After you create a plan you are satisfied with, advance the simulation time as we learnt in the previous unit, until project completion.
    0:36
  • Scheduling and Time Management
    Theory: Time Management and Scheduling
    Project Time Management includes the processes required to manage the timely completion of the project. The lecture covers: Definition of project time management Scheduling information Activity On Node (AON) network model The Gantt chart The Critical Path, Criticality Index and the Critical Path Method Scheduling Under Uncertainty Monte Carlo simulation
    14:57
    Walkthrough: Scheduling Activities and Views
    This lecture demonstrates Project Scheduling with the PTB simulator. The topics discussed in the previous lecture are illustrated.
    7:53
    Assignment: Managing Project Time and Creating a Schedule
    This unit’s concluding assignment is to simulate managing a simple radar development project. The exercise focuses on the scheduling aspects you learnt in this unit, scope aspects learnt in the previous unit and the tradeoff between project time and scope. Run the simulation from beginning to end twice. In the first time, try to achieve the maximum Range of the radar system. In the second run, try to finish the project as early as possible. Notice the tradeoff between the radar range (or project scope) and the scheduling aspects. To begin open the file ELearning/Exercises/unit3.scn.
    0:55
  • Resource Management
    Theory: Resource Management and Resource Utilization
    This unit we discusses project resource management, focusing on the effect of resources on the project schedule. It classifies the types of resources used and the resulting problems the project manager faces when dealing with different types of resources. Two problems are considered: the resource utilization problem and the problem of delays caused by scarce resources. Mode, or alternative selection has a major impact on resources and on activity duration. Using more resources to reduce duration is known as activity crashing. Finally, the concept of baseline schedule is discussed - a feasible schedule selected by the stakeholders as the plan for the project execution. The important topics are: Types of resources Resources and scheduling Resource Usage Profile Solving resource utilization and resource constraints problems Managing resources in the PTB Activity mode and activity duration - activity crashing The baseline schedule
    14:25
    Walkthrough: Resource Management Example
    This walkthrough demonstrates resource management in practice with the PTB simulator. It goes over the different aspects previously discussed and demonstrate them.
    14:46
    Assignment: Managing Resources and Solving Issues in Practice
    In this assignment Your job is to create a good plan for the project and follow through its execution. Try to use duration compression to finish the project as early as possible. You have to think about the different tradeoffs when selecting modes of execution and managing the resources. Remember to also pay attention to the project scope as you learned in the previous unit. To begin open the file ELearning/Exercises/unit4.scn
    0:45
  • Budgeting and Cost Management
    Theory: Cost Management, Reducing Project Cost
    This Unit focuses on project cost management. We will discuss project costs and income. We will classify the types of costs that are typical in a project environment. We will focus on cash flow management and cash flow considerations in project planning monitoring and control and their impact on scheduling and mode selection. We will see how the information in the detailed project budget should be used to support better project planning and trade off analysis. Finally we will discuss the integration of different cost components in an effort to minimize the total project cost and to maximize its profit. The main topics covered are: Types of costs Expenses and income Cash flow The detailed budget Minimizing total project cost
    7:17
    Walkthrough: Budgeting Demonstration
    In this walkthrough we will see cost management in practice with the PTB. A project that deals with building an electrical transformation plant is used. It focuses on budget and cost.
    12:11
    Assignment: Managing the Budget in a Stochastic Project
    The assignment is to manage the project cash flow in a medium difficulty level project with random elements. Start by opening the scenario ELearning/Exercises/unit5.scn and create a new plan for it. You probably already noticed that this scenario is more complex than the ones we’ve seen before. It has tight budget constraints. You will have to be careful not to run into a negative cash position and go bankrupt. You can do this by delaying non-critical tasks, which are expensive, as well as by executing milestone tasks as early as possible to receive the income of the milestone. Another thing to keep in mind is resource management. If there are idle resources, consider if it would be cheaper to release them and reassign them later when they are needed. Consider the cost of keeping a resource buffer and minimizing the risk of being forced to split and delay tasks. Try to finish the project before the due date to receive the associated bonus. If a task is not critical, consider executing it in a cheaper mode with a longer duration. You have to contemplate the tradeoff between budget and scheduling constraints.
    1:35
  • Project Control
    Theory: Controlling a Project, Corrective Actions
    In this unit we focus on the management of project progress during its execution. We discuss the need to process new information as it becomes available during project execution, the options for the design of the monitoring, and the way the control system is implemented in the PTB. Finally, we see how corrective actions can be taken during project execution based on the information provided by the control system. The PTB supports the project execution by providing information on actual project progress and also providing a learning environment for dealing with the uncertainty project managers face during project execution. The topics covered are: The need for project control Design of the control system The tracking Gantt Project control with the PTB Taking corrective actions
    7:23
    Walkthrough: Project Control Views and Operations
    This walkthrough demonstrates project monitoring and control in practice. The concepts are shown on a project that deals with the development of a radar system, as we’ve seen before but with tighter constraints.
    8:11
    Assignment: Monitor and Control a Project from Planning to Completion
    This unit’s concluding assignment is to open the scenario ELearning/Exercises/unit6.scn and to manage the project successfully. You must satisfy the budget, time, and quality constraints. Make sure you constantly monitor and control the project when it is running and take corrective action when needed.
    0:27
  • Risk Management
    Theory: Risk Identification, Analysis, Reduction, Avoidance and Acceptance
    This unit focuses on Project Risk Management. We discuss and define risks in projects, present the tools and techniques commonly used to identify, analyze and manage risk before during and after the project. Additionally we see how the PTB simulates different types of risks and how the user can practice risk management and learn from the results of her decisions. It is important to start the risk management process early on as part of project planning and to consider alternative mitigation options including risk acceptance. By simulating these alternatives in the PTB the user can learn how to select the most appropriate decision to handle a specific risk.
    8:34
    Walkthrough: Project Risk in Practice
    This walkthrough demonstrates the project risk management techniques discussed in the previous lecture.
    12:42
    Assignment: Manage a High Risk Project
    The assignment is to manage a "risky" project while creating a risk management plan and dealing with different project risks. Start by opening the scenario Learning/Exercises/unit7.scn and manage it.
    0:24
  • Lean Project Management
    Theory: Benefit, Value, Waste, Voice of the Customer and the Efficient Frontier
    This unit focuses on Lean Project Management. Lean Project Management focuses on maximizing value to the customer and other stakeholders while minimizing project waste. We explain the concepts of value and waste, and show how to translate the voice of the customer to measurable benefits, or value, as well as how to analyze the value of alternative project plans to find the efficient frontier of project solutions. The Lean Indicators screen in PTB is used to minimize waste and to find the efficient frontier of project plans and thus to achieve the goals of Lean Project Management. The main areas covered are: Introduction to Lean Project Management Benefit, value and waste Voice of the customer (VOC) Value analysis in PTB The Efficient Frontier Lean Indicators in PTB Using the Lean Indicators to find the Efficient Frontier
    17:37
    Walkthrough: Value Analysis Example
    This walkthrough shows the Lean project management aspects in practice with the PTB. It shows how to view the lean report where you can see the project waste and value and how to find the efficient project plans.
    4:13
    Assignment: Finding the Best Project Plan in an Advanced Project
    Your assignment is to open the scenario ELearning/Exercises/unit8.scn and to find three different efficient plans for this project. You must satisfy the budget, time and quality constraints while maximizing value and minimizing waste.
    0:29

Skills

  • Project Management
  • Time Management
  • Budgeting
  • Project Cost Management
  • Project Risk Management
  • Project Scope Management

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