What Is Project Management?

A project is an undertaking not meant to last for long but created to achieve a particular goal or product. It has a particular time frame depending on the available funds and expected results. It is not a routine, but a unique initiative with specified objectives.

Project management is a practice as well as a combination of activities aimed at achieving a definite objective. It includes the methods of planning, motivating, managing resources including time, rules and measures and organizing them.

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Project Management Certifications Evolution

It was, however, in the 1950s when project management as a subject changed to become an independent discipline on its own. This makes project management a fairly new discipline and subject to transformation. The evolution of project management certification is a result of the changing social and economic needs. Also, with the passage of time, people require more from IPMA and as the standards change so will the project management qualifications.

It has, therefore, managed to shift from being just an informal practice to a growing profession. Being one of the highly demanded skills in the business industry, it is growing at a very high rate especially in the Northern part of the United States of America. There has also been a projection of more than ten million jobs related to project management to be created in the near future.

Project management certification came into existence in 1967 by the European based International Project Management Association (IPMA), which was a partnership of many associations of the countries dealing with project management.

Formed in 1969, the Project Management Institute (PMI)® offers a range of project certifications. It also provides knowledge of the most common techniques in project management. The certificates provided are aimed at boosting one’s career in the domain of project management.

This program at present provides the following credentials:

  • Certified Associate in Project Management (CAPM
  • PMI-Agile Certified Professional (PMI-ACP
  • PMI-Risk Management Professional (PMI-RMP)®
  • Project Management Professional (PMP Certification)®

A Certification in project management ensures one’s knowledge in the life cycles of a project. Project plan implementation, assessment of the project’s performance according to the set goals and the ability to make necessary adjustments, so that the projects stay on track are the required skills in project management. It also provides learners with skills in procurement, managing human resource, stakeholder management, risk assessment, and communication.

Graduate certificates in this profession show that an individual can create a life cycle for the management of an entire project. It also demonstrates that they are knowledgeable and capable enough to handle all the tools and techniques involved and have the capacity to determine the variances in cost, timetables, and benefits in the project implementation process.

Project management professional is internationally recognized and probably holds the most popular global certification, especially among industries, which provide services in project management. However, according to statistics, certified project managers are just above fifty percent.

Other than being recognized by more than 90% of the institutions as the key to quality performance, project management also provides career advancement which includes better positions and increased remuneration. Their demand in the industry has tremendously risen up as they have public recognition and the ability to provide guidance for projects.

Are you a professional that is aspiring to be a Project Manager? Then enroll for the PMP Certification course curriculum now.

These Qualifications Also Help in Achieving the Following As Well

  • Depict one’s level of commitment in their career.
  • Demonstrate advanced skills and knowledge in project management.
  • Not only help in boosting one’s career but also significantly improves one’s status too.

The project management professional certificate from PMI® for instance also requires one to adhere to the Code of Ethics and Professional Conduct by the Program Management Institute. They also need to take up a test and pass it to prove that they are competent enough when it comes to meeting a particular criterion in project management.

The Basics of Project Management

Project management is the discipline of applying specific processes, principles, and techniques to initiate, plan, execute, monitor, control, and conclude a project. It's about achieving project goals and meeting success criteria within a specified timeframe. Here's an overview of project management basics, including understanding its key components, phases, and methodologies.

Key Components of Project Management

  1. Project Goals and Objectives: Clear, measurable outcomes the project aims to achieve.
  2. Scope: Defines the project's boundaries, including what will and will not be included.
  3. Resources: Includes time, money, materials, and human resources required to complete the project.
  4. Time: The schedule for when the project and its specific tasks need to be completed.
  5. Quality: The standards and criteria to which the project's deliverables must adhere.
  6. Stakeholders: Individuals or organizations actively involved in the project or whose interests may be affected by the project outcome.

Phases of Project Management

1. Conception and Initiation of the Project

Conception and Initiation are the first steps in the project management process. This phase involves identifying a new project or a new phase of an existing project. The key activities include:

  • Idea Generation: Recognizing the need for a project or solution.
  • Feasibility Study: Evaluating the project's viability through a feasibility study or a business case that assesses the project's goals, timeline, risks, and financial implications.
  • Stakeholder Identification: Identifying all parties affected by the project and understanding their influence and interests.
  • Project Charter Development: Creating a project charter that formally authorizes the project's existence and helps the project manager to apply organizational resources to project activities.

2. Defining and Planning the Project

The Defining and Planning phase sets the foundation for the project. This stage involves:

  • Defining Scope: Establishing the project scope, objectives, and deliverables.
  • Creating Work Breakdown Structure (WBS): Breaking down the project into smaller, manageable tasks.
  • Scheduling: Developing a project schedule that outlines timelines and milestones.
  • Resource Planning: Identifying the resources (people, equipment, materials) and budget required for the project.
  • Risk Management Planning: Identifying potential risks and devising mitigation strategies.

3. Executing the Project

During the Execution phase, the project plan is put into action. This stage involves:

  • Resource Allocation: Distributing resources and assigning tasks to team members.
  • Task Execution: Implementing project plans and working on the tasks to produce the project's deliverables.
  • Quality Management: Ensuring the project deliverables meet the quality standards set in the planning phase.
  • Stakeholder Communication: Keeping stakeholders informed about the project's progress and any issues that arise.

4. Managing and Monitoring the Project

Managing and Monitoring the project is an ongoing activity that overlaps with the execution phase. It includes:

  • Performance Tracking: Using key performance indicators (KPIs), project management software, and regular status meetings to monitor progress.
  • Scope Verification: Ensuring the project remains within scope and managing changes to the project scope.
  • Risk Monitoring: Keeping an eye on identified risks and identifying new risks, taking action as necessary.
  • Budget Management: Monitoring and controlling project costs to keep the project within the approved budget.

5. Closing the Project

Activities include:

  • Project Handover: Delivering the final product to the client or transitioning the completed work to the operational team.
  • Release Resources: Releasing project resources and formally closing any contracts associated with the project.
  • Post-Project Review: Conducting a lessons learned session to document what went well and what could be improved.
  • Project Closure Report: Preparing a final report summarizing the project performance, including its adherence to schedule and budget.

Project Management Methodologies

Several methodologies can be applied to project management, each with its own set of principles and practices:

  1. Waterfall: A linear, sequential approach where each phase is completed before the next begins. Suitable for projects with well-defined requirements and no expected changes.
  2. Agile: An iterative approach allowing rapid adjustments throughout the project lifecycle. It is highly flexible and adaptive, ideal for projects with changing or uncertain requirements.
  3. Scrum: A subset of Agile focused on fast, frequent deliveries and dividing the project into short work cycles known as sprints.
  4. Lean: Focuses on maximizing value through the elimination of waste. It emphasizes efficiency and continuous improvement.
  5. Prince2: A process-based method for effective project management, widely recognized and used in the UK government and internationally.

Key Skills for Project Managers

  • Leadership and Team Management: Motivating the team, resolving conflicts, and ensuring collaboration.
  • Communication: Keeping all stakeholders informed and engaged throughout the project lifecycle.
  • Risk Management: Detecting risks and developing strategies to mitigate them.
  • Problem-Solving: Addressing and resolving issues that arise during the project.
  • Time Management: Ensuring the project stays on schedule and within the defined timeline.

Project Management Online Tools

Online project management tools help teams collaborate, organize, and track the progress of their projects in a centralized platform. These tools often come with features such as task assignment, timelines, file sharing, communication channels, and reporting capabilities to facilitate smooth project execution and team cooperation. Here are some of the most widely recognized and utilized online project management tools:

1. Asana

Known for its flexibility and ease of use, Asana allows teams to plan, organize, and track the progress of their work. It offers task assignments, timelines, workspaces, and goal-tracking features.

2. Trello

Utilizes a card-based system for task and project management, making it intuitive for organizing tasks and projects into boards. It's particularly popular for its simplicity and visual project-tracking capabilities.

3. Jira

Favored by software development teams, Jira is designed for agile project management. It offers scrum and kanban boards, issue tracking, and extensive customizable workflows.

4. Monday.com

Provides a highly customizable platform that adapts to various project management needs, including project tracking, workflow automation, and a wide range of integration options.

5. Basecamp

Aims at simplifying project management, providing a straightforward platform for task assignments, deadlines, file storage, and communication.

6. Microsoft Project

A part of the Microsoft Office suite, it's a powerful tool for project planning, resource allocation, progress tracking, and budget management.

7. ClickUp

Offers an all-inclusive platform that can be customized for any team or project. It includes features for task assignments, documentation, goal setting, and an extensive array of integration options.

8. Wrike

Known for its customizability and scalability, Wrike suits teams of all sizes. It features task management, interactive timelines, real-time collaboration, and analytics.

9. Smartsheet

Combines project management, collaboration, and automation elements into a spreadsheet-like interface. It's known for its ease of use and flexibility.

10. Slack

While primarily a communication tool, Slack integrates with many project management tools, making it a central hub for project communication and updates.

These tools vary in their features, pricing, and target user base, from simple task management applications to comprehensive project management solutions. Selecting the right tool depends on your team's size, project complexity, and specific needs.

Project Management Certification Online

This is another avenue preferred by many because of its relatively convenient and user-friendly nature.

Through online learning, one would get the same benefits as attending class and acquire the same certification. Participants have an option of attending the online courses either through online self-learning or through instructor-led training or LVCs. The latter is the most preferred mode of learning these days, as it gives a classroom- like feel at a place of participant’s choice.  Participants are able to interact with the trainer live and also clear his or her doubts. Also, he or she can interact with other participants in the live webinar. This is usually important for discussions and group assignments.

Depending upon the nature of the certificate as well as the qualification, one can apply for the Project Management Institute (PMI)® qualifications. With fixed commencing dates, online courses make it possible for international students to acquire the skills in project management despite their locations.

One can have an online certificate in project management in the field of their choice from business, health governance, and more other such options. The evolution of project management certification through online study has made it possible for students to opt for a master’s certificate from the comfort of their homes.

Requirements for Project Management Certification Online

Some of the requirements for online master’s certification include completion of other courses that are usually varying depending on the institution. One will need to have some level of experience in the field and a bachelor’s degree. Some schools, however, will consider any other global equivalent to a bachelor’s degree.
One also needs to fill in the application for the course and it has to be approved before one can officially start the study. In many of the online application forms, the information that is required includes the following:

  • The applicant’s biodata and contact information.
  • The jobs one has previously or currently been holding, what they involve and their experiences form them. Some will also need to know the industry in which they are in and the length of time in which one has been in those positions. Some will also need to know which of these positions were managerial and the approximate number of employees one had or has.
  • The projects one has taken up in the past or is currently doing.
  • One has to give the details of his/her educational qualifications with the major subjects and any other training or certification.

Some of these courses are specialized and upon providing them with your details, they will give you a selection of courses that will fit the area of your expertise in project management. Other than just study- materials, a lot of these online providers will also have live webinars arranged for their students. This makes the course more involving and interesting aside from the provision of extra knowledge and information about the professional.

When choosing a training center, this is also a quality to look for it focuses more on skill development rather than just the curriculum. Look for other activities that indicate that they are focused on building hand-on knowledge in the students instead of focusing on teaching and examinations.

What Do You Need to Know About Online Studying of Project Management

You can also register for an online course with those institutions that offer to learn at any time of the day and on any day of the week. This can be for a particular set of days and just like the other modes of study, online study will also necessitate one to be fully evaluated before they can complete the course.

  • Some of the methods of assessing the online students include self-assessment/practice tests, examinations, quizzes and assessments of projects given out to the students whether as individuals or in groups. Some of the institutions will also do an evaluation of how much a student has participated during the program. A minimum grade is also there at which upon attainment, one can successfully graduate.
  • Some of the different ways of online study include online video streaming, discussion groups, case studies, online lecturers, handouts for students and downloadable PDFs. Some institutions will have a combination of all of them.
  • There are also options to get your certification partly online or fully online. Get registered with an institution whose syllabus is at par with the standards set by the Project Management Institute (PMI)®.
  • Some of the project management courses available online include those related to the basics, tools, partnership, and skills needed for project management.

Conclusion

For those aspiring to master the intricacies of project management and propel their careers to new heights, the PMP® Certification Training Course by Simplilearn presents an unparalleled opportunity. This course is designed to equip you with all the knowledge and skills required to pass the exam and excel in your project management career. With a comprehensive and aligned curriculum with the latest industry standards, Simplilearn ensures that learners are prepared to succeed in the exam and ready to tackle real-world challenges.

Our Project Management Courses Duration And Fees

Project Management Courses typically range from a few weeks to several months, with fees varying based on program and institution.

Program NameDurationFees
Post Graduate Program in Project Management

Cohort Starts: 24 Aug, 2024

6 months$ 3,000
PMP® Plus36 Months$ 1,849

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