An overview of the theory and practice of managing projects in any organization. Emphasis is on leadership in project management: managing projects or tasks in a team environment; building teams; and utilizing communication, organization, and conflict management skills. Discussion covers project management process groups and how these process groups (initiating, planning, executing, monitoring and controlling, and closing the project or project phase) interact throughout the life cycle of the project. Project management knowledge areas are examined and linked to industry practices for successful management of projects. The goal is to gain a solid understanding of how to successfully manage multiphase projects, work within organizational constraints, set goals linked directly to stakeholder needs, and utilize proven project management tools to complete projects on time and within budget while meeting specifications. Essential concepts, processes, and techniques are applied through management of a team project, which requires regular progress reports and reviews.
Financial and Strategic Management of ProjectsAn investigation of financial and strategic decision making in the management of projects. Topics include estimating project costs from work breakdown structure; formulating, monitoring, and controlling project budgets; monitoring, evaluating, and forecasting project costs, schedule, results, and performance using earned value management; and deriving project cash flows. Discussion also covers the impact of project scope, schedule, and changes; management reserves to cover risks and contingencies; top-down and bottom-up budgeting; investment project analysis; discounted cash flow, internal rate of return, and net present value methodologies; cost of capital; and capital budgeting. Broader issues (such as links between project and corporate financial performance, business ethics, corporate social responsibility, project and organizational culture, information flow, and project sustainability) are also examined.
Project Risk ManagementAn in-depth analysis of risk management methods and cases and project management risk monitoring from strategic, applied perspectives. State-of-the art tools and techniques for identifying, ranking, and monitoring risks in the project management environment are examined and utilized. Both qualitative and quantitative risk analyses are conducted, and strategies for proactive risk mitigation are developed. Focus is on how a comprehensive risk management approach can enable a project team to proactively manage issues that adversely impact the successful scope, scheduling, control, and completion of a project.
Project Quality ManagementA study of the policy, processes, and procedures involved in assuring that projects will satisfy the objectives for which they were undertaken. Emphasis is on quality planning, quality assurance, quality control, and process improvement. Discussion covers all the activities that determine quality objectives, policies, and responsibilities. The importance of customer satisfaction, prevention over inspection, management responsibility, and continuous improvement is recognized. Topics include control charts, cause and effect diagrams, Pareto charts, failure mode and effect analysis, design reviews, and cost of quality.
Advanced Project MethodsAn overview of advanced methods of managing projects applying widely used software tools for project management and risk analysis. Topics include analytical approaches and quantitative methods in project management, such as earned value management and techniques for estimating project duration and cost, optimizing allocation of resources, expediting projects, and scheduling algorithms. Simulation tools and statistical techniques are used to analyze uncertainty in project selection, budget allocation, and time estimation. Discussion covers project portfolio management and how multiple projects and programs fit into strategic direction of an organization. The processes, tools, and techniques of project management are applied to a team project with emphasis on quantitative and analytical methods.
Project Procurement ManagementAn examination of the tools needed for project procurement management. Focus is on determining what needs to be purchased or acquired and determining when and how to acquire it. Topics include planning the contracting efforts (documenting products and services and identifying potential sellers); requesting sellers¿ responses (obtaining information, quotation, bids, offers, or proposals); selecting the seller (receiving and reviewing offers, selecting among those potential offers, and negotiating a contract); administering contracts (managing the relationship between buyers and sellers, including documentation, corrective actions, and contract changes); and closing contracts (completing the contract and settling all open issues).
Project Communications ManagementAn overview of conflict resolution processes and methods and the skills needed to manage the human elements within project management¿a task as challenging as managing the technical aspects. Topics include critical communication and conflict resolution issues faced by project workers in today¿s global corporate environment. Innovative approaches to successfully negotiating and resolving conflicts among team members, colleagues, managers, and stakeholders are introduced and practiced. Proven techniques to make conflict a constructive rather than a destructive experience are analyzed. Emphasis is on case study analysis, effective communication behaviors, negotiation skills, and virtual team processes to successfully lead both domestic and global projects.