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The Complete Project Management Body of Knowledge in One Video (PMBOK 7th Edition) - AI Summary, Mind Map & Transcript | David McLachlan | YouTubeToText
YouTube Transcript: The Complete Project Management Body of Knowledge in One Video (PMBOK 7th Edition)
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This comprehensive guide to the PMBOK® Guide – Seventh Edition outlines its updated framework, emphasizing 12 principles and 8 performance domains to guide project management practices. It highlights the importance of tailoring approaches, methods, and artifacts to specific project contexts for successful value delivery.
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hi everyone i'm so glad you're here this
is the entire guide to the project
management body of knowledge edition 7
all in one video there's a lot of
information here so take a break if you
need to otherwise sit back and relax and
absorb all of this beautiful information
let's get into it we start with the 12
principles of project management and
they are be a diligent respectful and
caring steward create a collaborative
team environment effectively engage with
stakeholders focus on the value that
you're delivering and make sure that we
are delivering value to the business or
the organization or to customers
recognize evaluate and respond to system
interactions and there are going to be
many different system interactions and
sometimes these are complex demonstrate
leadership behaviors and help our people
thrive in our project tailor the project
based on what's happening in the
organization or based on the content or
the product itself build quality into
processes and deliverables to stop us
from making mistakes navigate complexity
optimize risk responses so make sure
we're we're uncovering risks in our
project embrace adaptability and
resiliency so uncover that for our
people and enable change to achieve the
envisioned future state projects are all
about change in the end there are three
sections to the project management body
of knowledge and we've got the project
performance domains we've got tailoring
those project performance domains and
then of course we've got the models
methods and artifacts that we'll be
using as project managers throughout the
life of our project with our project
performance domains we've got our
stakeholder performance domain so all
the stakeholders will need to be
interacting with the team the project
team the development approach and the
life cycle so how we're actually going
about doing our project the planning of
our project the project work itself so
committing and performing that project
work delivering the item and delivering
what we said we're going to deliver then
measuring everything to make sure we're
still on track and lastly uncertainty
and risk and managing that throughout
our project the first one is the
stakeholder performance domain and the
outcomes we're looking for here are
productive working relationships with
all of our stakeholders stakeholder
agreement with the project objectives so
keeping them on side making sure that
they're okay with what's being delivered
stakeholder beneficiaries to be
supportive and satisfied with what we're
delivering key terms we're coming across
will be the stakeholder and that's
anyone affected by the project or who's
perceived to be affected by the project
and on the right-hand side you can see
we've got our project manager just in
the in our first circle of influence and
then as our circle of influence gets
bigger we've got governing bodies
project management officers steering
committees and then ultimately our
suppliers and customers and end users
and regulatory bodies with stakeholder
engagement first we want to identify the
stakeholders and we might do that with
an organizational chart then we want to
understand our stakeholders and we might
do that with our stakeholder engagement
assessment matrix or something similar
then we're analyzing our stakeholders
and we could do that with a salience
chart or we could do that with an uh
with an impact over influence chart as
well then we're prioritizing our
stakeholders making sure we're engaging
the right ones at the right times
engaging with them regularly and
monitoring that engagement as we go
along stakeholder engagement and
communication is used in meetings phone
calls brainstorming and product demos as
well now we might use different forms
here we've got push communication where
we're pushing it out to the people so
we're sending an email or we're you know
having a telephone call we're pushing
that information out but then we've got
pull communication as well where the
people who are getting that information
are getting it from
either a bulletin board or a website or
a sharepoint site or something similar
they're pulling that information to them
from somewhere else now what we can use
is quick feedback loops as well so we
want to know did the person understand
the message do they agree with the
message and is there any information
missing so do they need any extra
information if you're always going
through this quick feedback loop you
will have more successful communication
our next section is team performance and
the outcomes we're looking for with team
performance are shared ownership of the
project high performing teams leadership
displayed by all members so that you
know everyone is leading at all levels
key terms we'll come across are the
project manager project management team
so the management team but then the
project team itself who's doing the work
in team performance we've got project
team management and leadership and the
difference is this management where
we're meeting objectives having
effective processes and monitoring the
work we're getting things done and
monitoring that things are getting done
but leadership is where we're looking at
the people growing our people
influencing motivating listening and
enabling the people that we're working
with in our project we might have
centralized leadership and
accountability is this is where
accountability is on one person for
example the project manager we can use a
project charter for approval of the
scope and the roles so clarity of the
roles if we've got centralized
leadership so that everyone understands
what's going on then we've got
distributed leadership which is shared
amongst the team we've got
self-organizing teams with a facilitator
usually a coach role or a lead role
focusing on the growth of the team the
team has autonomy to do what they want
as long as it meets the goals that we're
aiming for and it's servant leadership
where we're removing blockers and
focusing on the growth of the team with
servant leaders they focus on obstacle
removal and they're a diversion shield
so they stop other people from
interrupting the team and stopping them
from getting their work done there's
development opportunities for the team
we're trying to grow them and become the
best versions of themselves team
development then includes vision and
objectives clear roles and
responsibilities team operations and
guidance and growth as we're going along
and trying to improve the team as the
project progresses with project team
culture the project manager must
establish a safe respectful environment
for open communication we want
psychological safety here we can use
things like transparency integrity
respect positive discourse support
courage celebrating success and support
includes providing encouragement showing
empathy and active listening with high
performing project teams factors
associated with this are open
communication shared understanding of
the work and the goals shared ownership
trust collaboration amongst the team
adaptability so open to change
resilience in the face of change
empowerment of the team to do the things
that they need to get done and
recognition when they do those things
the leadership skills that we're looking
for are things like establishing a
vision we want that to be developed
collaboratively with stakeholders and a
vision answers these questions what is
the project purpose what are the project
benefits so what are we delivering and
what defines success now of course we
also need critical thinking and this is
where we need to be aware of personal
bias and we also want to research and
analyze data to get to the right answers
we can use deductive reasoning so this
might be a generalized statement with a
specific example or inductive reasoning
which is a specific example that leads
to a generalized statement next we want
motivation of the team as well and we've
got intrinsic motivation and extrinsic
motivation intrinsic is internal it's a
belief in the work achievement
self-direction relatedness and personal
growth and extrinsic is a money or bonus
so external things like status
interpersonal skills we'll need as we go
along our journey are emotional
intelligence and this is a
self-awareness awareness of the things
that we're experiencing internally
self-management so managing our own emotions
emotions
social awareness being aware of all of
the social intricacies that are going on
in the project and in our organization
and social skill being able to navigate
those things well enough to get the job
done we want decision making and we want
conflict management as well with
conflict management we want to keep
communication respectful we want to
focus on the issue not the person we
want to focus on the present and not
dredge up the past and we want to search
for alternatives together when we're
tailoring leadership styles for our
project we want to take into
consideration the experience with this
type of project that people have the
maturity of the project team members
organizational governance structures
that might impact the way that we lead
and distributed teams so do we need
other things in place like video or chat
or messaging
or are we just around the corner in the
same building
our next section is development approach
and life cycle of our project and the
outcomes we're looking for here are the
development approach is consistent with
the deliverables we're delivering the
project life cycle connects that
delivery of value with all of the
stakeholders from the beginning to the
end of the project and the key terms
that we'll come across are things like a
deliverable which is the product or
feature we're delivering the development
approach which is the approach we use to
create that deliverable the cadence
which is all of our meetings and the the
rhythm of things and interactions that
we have on our project project phase
which is the related activities that
complete a deliverable and the project
life cycle which is all of those phases
from beginning to end now there's a
relationship between development cadence
and the life cycle so the type of
deliverable determines how all of this
might be developed there is different
things like risk certainty or
uncertainty complexity in a project and
need for change maybe there's rapid
change or maybe we've got more time all
of this will impact what we do the
delivery cadence is the timing and
frequency of project deliverables and we
might have things like a single delivery
where we're just delivering once
multiple deliveries so we're delivering
multiple features or periodic deliveries
where we're delivering features on a
schedule so multiple deliveries on a
fixed schedule similar to continuous
delivery in devops development
approaches that we'll come across are
things like predictive development
approaches this is your traditional
waterfall approach and this is useful
when the work is easily defined the
scope is collected at the start there's
a large investment or there's high risk
and we can use frequent reviews and
change control to keep this type of
project under control the other sort is
adaptive and this is what we consider
agile now adaptive uses iterative and
incremental approaches iterative is
where we're taking feedback along the
journey but then we're delivering still
in one big go but incremental is where
we're delivering features along our
journey so usable pieces of work so
we're taking that feedback but we're
also delivering multiple features along
a timeline now hybrid is a combination
of both of these approaches predictive
and adaptive and this will probably be
the most common approach as many
organizations take some parts from each
of these different approaches
considerations when we're selecting a
development approach we might consider
the product so what is the degree of
innovation that we need what are the
certainty of requirements adaptive can
be useful if the scope is not well
understood we might have scope stability
is it very stable or unstable do we need
to adjust the ease of change delivery
options can it actually be delivered in
multiple features or increments and the
risk safety requirements or regulations
maybe there's high amount of regulation
and we need a lot of control on this product
product
with the project we need to consider
stakeholders is there actually a product
owner available that might determine
whether we use agile or not schedule
constraints and funding availability
with the organization we might consider
the organizational structure is it flat
or is it more bureaucratic so flat is
where we can actually talk to someone a
boss quite easily or bureaucratic is
where you know they're far removed from
the work and the situation the culture
the organizational capability and the
project team size and location with life
cycle phase and definitions we've got
these phases the feasibility so that's
where we're actually figuring out if
it's feasible to create this product the
design of that product the build of that
product testing that product then
deploying or releasing it and finally
closing off that phase now these will be
used across all the different life
cycles but in just in different ways for
example waterfall will use all of these
but in just once but adaptive might use
all of these for each of the project
increments that we're delivering
kanban uses a flow based approach and
that has no phase it's a pull approach
where people pull the work only as
they're ready when we're aligning the
delivery cadence development and life
cycle we're going to look at things like
the cadence so the rhythm and the
meetings so that's where we might have
single or multiple deliveries the
development approach we might have
predictive hybrid adaptive which is
incremental and iterative approaches and
the life cycle which is what we've gone
through which design build test deploy
and close
our next section is project planning
performance so the outcomes we're
looking for here are the project
progresses in an organized deliberate
manner that evolving information is used
to produce the deliverables as needed so
if we need to adjust the process for
adapting your plan is based on emerging
needs or conditions so we are adjusting
if necessary the key terms that we'll
come across are things like estimates
accuracy so how correct is it did it do
what we wanted it to do and precision
can it do it over and over again how
repeatable is it schedule crashing which
is throwing resources at the thing
schedule fast tracking which is doing
things in parallel to each other at the
same time and of course our budget with
planning variables what determines how
much planning is done we might look at
the development style so we might have
predictive which is lots of upfront
planning or adaptive which is rolling
wave planning where we're planning each
increment and planning only in detail as
we get closer to that increment we might
look at project deliverables so
construction might need more planning
versus software which might be more
flexible we're going to look at
organizational requirements we might
need governance policies processes and
culture that might actually need certain
ways of work to happen so we might have
to abide by those rules the market
conditions as well do we need a certain
speeds to market do we need to release
something quickly and of course legal or
regulatory restrictions that we need to
abide by when we're planning the
delivery planning begins with
understanding the business case so
that's our feasibility study is it
actually feasible for us to deliver this
feature or increment or project the
stakeholder requirements so what they
actually need and the product and
project scope the product scope is all
of the features in the product but the
project scope is the work performed to
deliver those features as we go along
and we want to break down all of these
things the product scope and the project
scope into a work breakdown structure to
break down the work into things that
people can actually work on as a team or
an individual
with planning variables we've got
estimating so the types of estimates now
there are different types of estimates
and they start from far away and as we
get closer to the delivery of the
project then we want to get more refined
as you can see we've got a wide range at
the beginning but then it gets very very
close and now we want it to be
exact adjust your estimates for
uncertainty so give it a little bit of
leeway if you need to projects are
inherently uncertain so use simulation
like mock-ups or storyboards or
prototypes and build in reserves so
extra amounts of money that might be
needed if things go off track accuracy
and precision as we said accuracy is how
correct is it is it doing what we needed
did it hit the target and precision can
it do it over and over again is it repeatable
repeatable
other estimating terms we'll see are
confidence so the confidence in our
estimates this increases with experience
and the more you do it the better you'll
get at it deterministic estimating is a
number or a point probabilistic
estimating is a range of options with
probabilities for each of those things
absolute estimates is just a number
relativist estimates is a comparison to
other estimates so like story cards or
story points you'll see in agile flow
based estimates uses cycle time which is
the time to complete something and
throughput which is the number of those
things completed so that's quite good to
determine how long something might take
overall when we're creating our schedule
we'll go through these steps we're going
to decompose the project scope into
specific activities using a work
breakdown structure as well but we'll
break it down into specific activities
that we can then assign to a schedule
then we want to sequence those
activities of course and we might use a
gantt chart to do that then we're going
to estimate the effort duration and the
people and resources required allocate
those people and resources and then
adjust that sequence estimates and
resources until the schedule is agreed
over time when we're managing our
schedule we might use things like
schedule crashing which is throwing
money and resources at it to try and
bring that schedule end date closer fast
tracking which is doing things at the
same time so doing them in parallel
we're going to come across things like
leads and lags leads is how how much we
can bring an item forward for example if
we're doing a photo shoot and photo
editing we might be able to start editing
editing
halfway through our photo shoot because
we've got some photos ready we can bring
that forward with lags it's how much do
we need to delay an item so it's lagging behind
behind
we might be pouring a concrete
foundation for a house and then we need
to wait for that foundation to set so
we've got a five day lag here and then
we can do our house frame after that you
will come across dependencies as well
and we've got things like mandatory
dependencies which can't be modified
discretionary dependencies which can be
modified external dependencies so
they're impacted by non-project
activities external to our project and
internal dependencies which are impacted
by our project activities themselves
we're going to have things like rolling
wave planning where we're planning
far away items just as a high level idea
and as they get closer so near term then
we do a detailed plan so it's just
rolling continuously the far away items
are just a high level idea near term we
do a nice detailed plan when we're
planning our budget there are certain
steps we can go through estimates are
applied to the project work to create
the cost baseline but then we add a
contingency reserve and we add that for
unknown risks and we use that to create
the project budget overall but then we
add on top of that a management reserve
and that management reserve is for
unexpected activities that are added to
the project budget and that brings us to
our overall total for our project with
our project team composition and
structure we might have a choice between
different people internal to our
organization or external to our
organization now we're going to need to
consider certain things the cost of
those people the expertise of those
people and the location of those people
so do we want them close by or is it
okay to have them around the world when
we're planning communication good
communication helps us engage with our
stakeholders effectively consider these
things who needs the information what
information do they need why do we need
to share this information how do we
provide this information to them when
and how often do we need to share it who
and where do we get that information
from planning for our physical resources
is for anything that is not a person now
planning includes estimating for those
resources knowing the supply chain and
logistics of those resources and then
resource management managing those
resources we want to consider the lead
time for delivery movement and transport
and storage of materials now we need to
think strategically about when to order
those materials so we're not waiting for
them as our project goes along when
we're planning procurement once the
scope is known we want to do a make or
buy analysis what can be made in-house
versus bought and what is the upfront
cost of buying it or versus making it
versus the ongoing cost this is
something that people forget very often
they might think that something's cheap
to buy up front from an external vendor
but then the ongoing costs are much more
and that's where people get caught when
we're planning for change in our project
we want to prepare a process for
adapting our plan throughout the project
as it goes along this might include a
change control process re-prioritizing a
backlog with a product owner
re-baselining project artifacts or
outcomes and change might occur due to
environmental changes like the
organization customer requests or
gaining a deeper understanding of the
product or project scope planning also
includes metrics and metrics is how we
measure the work there's a separate
complete measurement domain and we'll go
into that later
when we're planning for alignment
planning activities and artifacts need
to remain integrated throughout the
project and so that's how we need to
align for example requirements need to
align with scope plans scope plans might
need to align with schedule and cost
management plans because they're all
related the the scope impacts the cost
quality and testing plans need to align
with scope management plans logistics
plans might need to align with resources
plans and the project management plan overall
overall
integrates everything all together our
next section is the project work now the
outcomes we're looking for the project
work itself are efficient and effective
project performance appropriate project processes
processes
appropriate communication with
stakeholders efficient management of
physical resources and procurements
improved capability of our people and
team and the product due to continuous
learning and process improvement as
we're going along key terms that we'll
see are bid documents which is proposals
from our sellers bidder conferences to
get multiple multiple ideas from
different bidders explicit knowledge
which can be codified into a process and
tacit knowledge which is more personal
knowledge so beliefs or experience
with our project processes we want to
periodically review the project process
to make sure it still fits and tailor it
to suit the environment we're currently
in we can use things like lean
production methods retrospectives or
lessons learned asking what's working
well or what do we still need to improve
and where is the next best funding spent
and of course we can use things like
cost benefit analysis so or our value
stream map up the top here
when we're balancing competing
constraints this is an ongoing activity
and it can be done with the product
owner or within the project depending on
how we're managing it as you can see the
constraints are scope quality cost and
time and in an agile project the scope
is variable but in a waterfall project
or a predictive project the scope is
usually fixed and the other items are
more variable
we can use trade-off sliders in our
project to show people which ones are
more fixed and which ones are more
flexible so in this case the time is
very fixed but in this case also the
quality is the most flexible so we may
not deliver the best quality product but
we absolutely have to deliver on time
when we're maintaining project team
focus this is the project manager's
responsibility and it includes things
like short and long-term projections of
progress towards goals so how is the
team performing that's going to impact
our project team's focus balancing the
workload amongst the team making sure
that no one is too overloaded and no
one's slacking off and assessing if team
members are satisfied with their work
we're going to need project
communications and engagement and
communications include formal informal
verbal and written communications
they're collected in meetings
conversations or pulled from
repositories as a pull communication and
they're distributed as per the
communications plan if we're getting
abundant ad hoc requests in our project
this indicates we're not communicating
enough so we just need to communicate
more or in different ways to our project
stakeholders when we're managing
physical resources resources include
materials and supplies from third
parties the resource process might
include planning ordering that resource
transporting it storing it tracking and
controlling that resource now large
amounts of resources require a logistics
system documented in company policies
and this is where lean comes into it as
well we want to eliminate wait time and
reduce handling these are the lean
wastes otherwise known as downtime we've
got defects or rework which we want to
avoid over production we want to avoid
waiting not effective use of time and
talent avoid transport if we can avoid
too much inventory if we can avoid
excessive motion and excessive
processing when we're getting all these
resources together and that will help us
be more on time with our project working
with procurements procurements involve
contracts for things like material
equipment labor or services
project management won't usually write a
contract themselves but will work with
contracting officers in the organization
with rigorous policies in place a
project manager might work with
technical experts and the contracting
officers to develop things like request
for proposal statement of work and the
terms and conditions within your project
the bidding process might include
documents such as request for
information which is to gather
information from the market request for
proposal which is where scope is complex
so we might need different proposals
request for a quote where price is the
main factor and when we're choosing a
vendor source selection this is often
based on price the delivery so the terms
of delivery and the experience of our
vendor once a vendor is selected update
the project plan with all of those
vendor details the dates costs quality
requirements and the vendor is now a
project stakeholder that we need to keep
engaged and keep communicating with as
we go along monitoring new work and
changes scope may evolve and change over
the life of your project for adaptive
projects the project manager works with
the product owner to prioritize the
scope in the product backlog low
priority items may not get done in favor
of high priority items for predictive
projects which is our waterfall type
project a change request is raised which
goes through the change control board
for approval noting any impact to cost
quality scope or schedule which are all
of those constraints that we spoke about
before once approved the change is added
to the project documents and
communicated to all of the stakeholders
in the project learning throughout the
project have a knowledge management
process to capture those lessons learned
through a retrospective or a review for
other projects to use later on here's
where we're going to look at explicit
knowledge which is a process and it can
be taught and tacit knowledge which
includes our beliefs and our experience
now we're delving into the delivery
performance domain
outcomes we're looking for in delivery
are that the project contributes to
business objectives and the strategy the
overall strategy projects realize the
outcomes that they intended the benefits
we wanted are realized in the intended
time frame the project is clear on the
requirements and stakeholders accept and
are happy with the deliverables in the
end the key terms that we'll come across
are a requirement which is the
capability needed in one of those
products or features a work breakdown
structure which work breaks down the
work into smaller pieces definition of
done quality
and the cost of quality delivery of
value how do we need to deliver that
value we could use adaptive which is our
incremental and iterative approaches
delivers value along the journey or
predictive which delivers value all in
one go at the end now value remains long
after the project is finished and values
defined and monitored with a business
case at the very beginning so this tells
us if we are actually delivering value
and why we're setting up this project
and then it's also monitored in baseline
documents within the project as we go
along with different deliverables a
deliverable is an increment of value
which is a feature or a product we're
going to have terms like requirements
the conditional capability that needs to
be met to satisfy the customer need in
the end requirements elicitation
elicitation is to draw out those
requirements from where they're coming
from from the customers we want to
document them as clear concise
verifiable so make sure we can check
them and test them consistent we want
them to be consistent across different
requirements complete and traceable back
to the requirements once we've delivered
what they wanted they're evolving and
discovering requirements and for this we
can use prototypes storyboards mock-ups
so we can create models or pictures or
ideas before we create the actual item
itself so we can save a bit of money if
things go wrong when we're managing
requirements ineffective requirements
equal things like rework scope creep
customer dissatisfaction budget overruns
schedule delay and project failure so
often one person is ultimately
accountable for the things that are
being delivered and we want to use
backlogs or a traceability matrix when
we're managing these requirements we're
also going to be doing things like scope
decomposition this is a work breakdown
structure where we take the themes in
our agile charter we turn them into
epics so smaller items again and we turn
those epics into user stories which are
items that people can actually work on
and deliver now there are other ways we
can do this we might have a product
roadmap and we might turn them into
features and then we might turn those
features into work packages whatever we
call them it's the same idea of scope
decomposition how do we define
completion of those deliverables we want
things like acceptance criteria so what
is the criteria for this item to be
accepted by the customer technical
performance measures the definition of
ready for us to start work on an item
and the definition of done for when
we're actually delivering that item and
people are happy you might experience
moving targets of completion so projects
operating in uncertainty or changing
markets these things might impact the
deliverables and this is known as done drift
drift
when we're delivering for quality
quality requirements are reflected in
the completion criteria the definition
of done the statement of work and
requirements documentation now those who
receive the benefit ultimately bear the
cost of bad quality so that's why we
want to look after our customers make
sure we're still delivering good quality
items otherwise they're going to bear
the cost of that which brings us to the
cost of quality now there are a few
different items here such as prevention
costs so preventing the bad quality in
the first place we might have appraisal
costs which is finding bad quality so as
we're developing something or creating
something we might be checking it to
make sure that it's still okay internal
failure costs is if we deliver something
internally but we haven't released it to
the customer yet and then we find it and
it fails then we have to go back and we
have to fix it all up and that's a
little bit more costly but lastly the
most costly is external failure which is
when it gets to the customer and it
fails in their hands as we can see the
cost of change is higher towards the end
of the project or towards the
deliverable being delivered to counter
this we want to build in quality and
find those defects before they reach the
end customer sub-optimal outcomes that
we might experience now there's always a
chance that a project does not meet its
outcomes projects are very tricky
environments and complex environments as
well we might have uncertain
environments or risk or markets changing
markets or our competitor might get
there first effective project management
can help but there is always risk and
that risk needs to be managed now we're
into the measurement performance domain
and the outcomes we're looking for here
are a reliable understanding of the
status of the project
actionable data so that we can make the
right decisions timely actions to keep
project the project on track achieving
targets and generating business value
due to correct decisions and the key
terms we'll come across are things like
metrics baselines so baselines documents
for our schedule scope or cost
dashboards so we can see how things are
going and we want to evaluate the
performance compared to the plan track
and utilize resources demonstrate
accountability and feed conversations
about project trade-offs or product
trade-offs so all of these require
measurement and metrics now how do we
establish effective measures we might
use things like key performance
indicators kpis or objectives and key
results okay ours leading indicators we
can use are things like the size of a
project so if it's really really big
maybe it's going to be difficult to
manage the items in a backlog have we
got a lot left to deliver and lack of
processes maybe we're going to run into
problems in the future because we don't
have a clear process involved
lagging indicators are things like
deliverables already completed the
schedule or cost variance that's already
happened and resources that we have
already consumed but we can use those to
have a look into the future to see if
we're on track or off track
effective metrics are smart they're
specific measurable achievable relevant
and timely now what do we want to
measure in our project we want
deliverable metrics so this is for the
product or the feature this might
include things like errors or defects
measurements of performance efficiency
and reliability and technical
performance measures now we might have
delivery metrics as well delivering in
our project the work in progress the
lead time for something to be delivered
the cycle time for for a smaller piece
to be delivered the queue size for
example how much is left to go and the
batch size how much are we getting done
in certain sprints so in a two-week
sprint for example and of course our
project efficiency how efficient is
everything going with our baseline
performance versus our actual
performance we're going to look at start
and finish dates effort and duration the
schedule variance the schedule
performance index feature completion
rates how fast are we completing things
actual cost to planned cost and that
cost variance in the end and that
includes the cost performance index as
well that you'll come across resources
we'll use are planned versus actual
resource use and the cost of that too
we're going to measure business value
and this includes the cost to benefit
ratio so what's the cost of everything
versus the benefit that we're getting in
the end the planned versus actual
benefits delivery return on investment
or roi or net present value you'll see
as well npv we want to measure
stakeholders with our net promoter score
so this is where we're measuring their
engagement a mood chart morale of the
team and turnover of the team that's
what we can measure there we might
measure with forecasts with our estimate
to complete etc estimate at completion
eac variance at completion vac and the
two complete performance index tcpi we
might use regression analysis to see
trends and forecast those into the
future or throughput analysis to see how
fast things are moving through the
system when we're presenting information
we can use things like dashboards
information radiators which is a visible
backlog or burn down charts or risks we
might use visual controls like task
boards burn charts or other charts and
there are certain measurement pitfalls
that we want to avoid these are things
like the hawthorne effect where what we
measure actually influences people's
behavior so we have to be careful what
we are measuring vanity metrics so
things that might seem important but
actually don't move the needle towards a
better strategy or a better outcome for
our pro for our organization
demoralization if it's not achievable
people will get demoralized misusing the
metrics so using the metrics for bad and
not for good confirmation bias where
we're actually just trying to confirm
something that we want to be true
instead of that's actually true and
lastly correlation versus causation
where something that
just because something is happening at
the same time doesn't mean that that
thing caused that thing to happen so
that's correlation versus causation when
we're troubleshooting performance it's
good to have agreed to plans for
measuring outside of threshold ranges
and using measurements to grow and
improve the intent of displaying all of
that data is ultimately to learn and
improve it's really best to report
information that will allow the team to learn
learn
facilitate a real decision help avoid an
issue in the future or prevent
performance breakdown in the future as
well now we're into the uncertainty
project performance domain and the
outcomes we're looking for here are
awareness of the environment so the
political environment environmental
social technological legal and other
things all of those things we need to be
aware of proactively exploring
uncertainty awareness of the
interdependence of multiple variables of
the project so this is complexity
ability to anticipate threats and
opportunities and understand their
consequences and the project delivery we
want little impact from any of those
unforeseen events opportunities we want
to realize to improve the project
performance based on all these things
and using cost and schedule reserves to
meet the project objectives if any of
these pop up any of these uncertain
things pop up in the future key terms
we'll see are uncertainty ambiguity
complexity volatility and risk and this
is pestle and vuca so these are the
terms that you'll see come up associated
with those
first there's general uncertainty now
options for responding to uncertainty
including gather information prepare for
multiple outcomes
use set-based design or prototyping so
use models to to work our way through it
before actually committing any money and
build resilience into the process
respond or change quickly
ambiguity is also going to come up now
there's conceptual ambiguity which is a
general lack of understanding of the
item or situational ambiguity which is
where there's more than one outcome
possible and so it's ambiguous we're not
sure which way to go
we can use here progressive elaboration
so in other words deliver smaller
features more often to work our way
through those different paths we can use
experiments so smaller items before
we're delivering the actual item and
again to save costs and prototyping
complexity is another one and complexity
is a characteristic that makes something
difficult to manage with many
interconnected influences approaches we
can use for complexity are decoupling
all of those interconnected things so
disconnecting the parts to reduce all
those variables and we can use
simulation so monte carlo simulation
does thousands or tens of thousands or a
hundred thousand different runs of the
same situation with different variables
in each one so we can see the range of
outcomes and then respond accordingly we
might want to reframe this complexity so
with diversity we can get a view from
different perspectives to to get an
answer we might balance with lagging and
leading data to get the right answer as
well or we might use processed based
approach which is iterating or adding
features incrementally so just
uncovering it as we go engaging more
with our stakeholders and error proofing
the item or making it fail safe if we can
can
we're going to come across volatility
and this is where something is subject
to rapid or unpredictable change we can
use things like alternatives analysis so
different alternatives and look at the
pros and cons for each and reserves so
contingency reserves and management
reserves if things go wrong as well
then we've got good old-fashioned risk
and we want to capture risk with its
probability of happening so how probable
how probable is it that it occurs and
the impact if it actually does occur and
we can give that a number or we can give
that a name and there are different ways
to do that here but we want to capture
those two things with threats we're
going to do things like avoid the threat
escalate the threat to a manager if we
need to transfer the threat to another
department or organization if we can
mitigate that threat with controls or
ways to control that risk or accept the
threat if it's something that's
acceptable to the organization now we
might come across uncertain
opportunities as well and that's where
we want to exploit those opportunities
we might want to escalate it as well to
a manager if we need approval there we
might want to share that opportunity
with another department or another
organization we want to enhance the
opportunity and ultimately we might just
want to accept the opportunity as well
with risk we can use management and
contingency reserves and have a regular
risk review
and that is the first section of the
pmbok guide you guys are doing amazing
stick with it the last two sections are
much shorter than the first section so
that's really really good i think you're
doing an amazing job let's get into the
next section now which is tailoring our
project and with tailoring why do we
want to tailor we're going to go into
what's to taylor we're going to go into
the tailoring process and tailoring each
of the performance domains and how to do it
it
tailoring is deliberately adapting the
project management approach governance
or process to suit the environment that
we're in why do we want to tailor
tailoring should reflect the size the
duration the complexity of the project
and be adapted to the industry and the
project management maturity of the
organization for example a team with
less experience could use an out of the
box method but a team with more
experience might tailor it to their
individual needs we want to tailor
anything in a project to suit the
situation and gain successful delivery
when we're tailoring the life cycle and
development approach we can use a
combination of predictive which is our
waterfall approach hybrid iterative
incremental and adaptive or agile
development approaches that we looked at
earlier we can tailor the processes so
decide which portions of the development
approach should be
added modified removed blended
blended
or aligned so for example we want same
definitions across things like risk when
we're tailoring engagement we want to
look at the people decide who to use in
particular areas what's their experience
empowerment can you give more
empowerment and flexibility or in other
situations we might need more
supervision or direction with
integration how to create a diverse
project team including external members
as well when we're tailoring the tools
in our project what software or
equipment should we use factor in cost
organizational preferences and existing
items that we have already when we're
tailoring methods and artifacts tailor
the documents the artifacts and methods
so they are appropriate for the project
and the organization and that brings us
to the tailoring process so with this we
want to select the initial development
approach or anything that we're looking
at then we want to tailor it for the
organization that we're working in then
we want to tailor it for the specific
project that we're working on and lastly
we want to implement ongoing
improvements so we want to see if it's
working and improve it over time when
we're tailoring as well we're going to
select the initial development approach
and here's where we need to apply our
knowledge of the product and the
necessary delivery cadence so what
meetings are required how often do we
need to meet what's the rhythm of our
project you can use a suitability filter
based on predictive hybrid adaptive
approaches for example we might have
predictive where there's high risk or
the time frame is long or adaptive where
we've got changing requirements and the
need to deliver value early or move
really fast tailoring for the
organization is where the organization
might have a project methodology
management or development approach
already in place and it's established
governance processes as well now there
may be contract terms that we need to
meet if we're under contract all of
these things will change how we tailor
for the organization tailoring for the
project things we'll need to consider
are the product or deliverable so there
might be compliance or criticality the
type of product industry or market
technology involved the time frame the
stability of requirements the security
needed or incremental delivery or
delivering in one big bang when we're
looking at the project team we're going
to consider the team size the team
geography organizational distribution
the project team experience and the
access that we have to the customer when
we're considering culture do we have
sufficient buy-in from all of the people
do we have sufficient trust and
empowerment of the team as needed and
lastly organizational culture we need to
make sure that this does align with the
project approach and we can implement
ongoing improvement as we go along now
we're going to need to tailor the
performance domains and these are all
the ones that we've been through like
stakeholder team development approach
and life cycle planning the project work
delivery measurement and uncertainty
each of these can be tailored when we're
tailoring for our stakeholders we want
to ask is there a collaborative
environment are stakeholders internal or
external is technology available for
communicating with our stakeholders are
diverse languages spoken or even jargon
within the company how many stakeholders
do we have for more stakeholders more
networks equals more complexity are
there already existing relationships
with our project team we're going to ask
things like is the team co-located or
dispersed are there diverse viewpoints
and cultures involved are there internal
people or contractors external to the
organization is there an established
project team culture already are there
existing tools or are the new tools does
the team need training and are there any
special needs that the team needs when
we're looking at the development
approach and life cycle the things that
we'll ask here are which development
approach is appropriate for the product
service or result based on the speed the
quality and the scope needs that we need
to deliver are there any formal or
informal audit or governance of policies
or procedures already in place when
we're tailoring for planning we're going
to ask things like do any internal or
external environmental factors impact
the planning things that are going on in
the organization or in the market do
resources and their productivity affect
durations do we have the right people on
board can they deliver fast enough or do
we need to adjust
are there formal or informal policies
for cost estimating and budgeting do we
need to go to a certain department how
does the organization estimate cost with
adaptive approaches is there already a
process in place
what if we have multiple procurements
and are there laws or regulations
affecting contracting when we're
tailoring the project work the things
we'll ask here are management processes
are they based on cultural complexity
how will the knowledge be used to foster
collaboration what information will be
collected and how will it be managed
over the project how will we handle the
lessons learned that we pick up along
the way and is there a formal knowledge
management repository that we need to
engage with tailoring for delivery we're
going to ask are there formal or
informal requirements management systems
in place are there formal informal
validation and control related policies
so do we need to keep everything under
control do we have a steering committee
or do we have change control board are
these already in place in the
organization what quality policies tools
techniques or templates already exist in
the organization for us to use are there
any specific industry standards are
there any unstable requirements so how
will we manage those and managing for
uncertainty the things we'll ask what is
the risk appetite of our organization
and the product or even just the culture
within the project itself how are
threats and opportunities identified and
addressed as we go along in the project
how will complexity and uncertainty
impact our project does project size
impact the risk approach and how
strategically important is the project itself
itself
lastly with measurement we're going to
ask how is value measured can we measure
financial versus non-financial value how
will the project enable data capture and
report those benefits to the
organization and what are the project
status reporting requirements and now
we're on to the last section which is
models methods and artifacts and these
are the things like the actual things
that we'll do on a day-to-day basis the
methods we'll go through as we manage
our project and there's a whole bunch of
things to go through here you're onto
the last section and you are doing so
great keep it up guys and keep learning
i absolutely know that you can do this
and i know you can use this to pass your
exam if that's what you want or just get
better at project management yourself
let's get into this section models
methods and artifacts a model helps
explain how something works in the real
world and now we've got different models
we've got situational leadership models
so ken blanchard's situational
leadership too measures competence of a
person and the commitment of the person
as well and the oscar coaching model is
we look at the outcome that we want this
current situation the choices or
consequences of doing different actions
for the person the actions that we want
a person to take and then reviewing all
of these things and seeing where do we
go from there models for communication
across cultural communication this is
where the message is influenced by the
sender and receivers current knowledge
experience language thinking and
communication style and we have to
understand that everyone is a little bit
different even when we're in the same
organization or country even so we'll
have different knowledge and experience
and these need to be adjusted for we'll
also look at the effectiveness of
communication channels and this is from
alasdair coburn and it's measured by
richness and effectiveness so richness
means that we're able to handle multiple
information cues simultaneously get
rapid feedback it's personal and it uses
natural language so it's you know for
example face to face and then how
effective is that over time
now we're also looking at the gulf of
execution and evaluation this is from
donald norman and the gulf of execution
is does it match what we expected it to
do an evaluation does it support the
user to discover how to interact with it
or does it just leave them barren and
trying to figure it out for themselves
models for motivation with our team
we've got herzberg's theory of
motivation with this we've got hygiene
factors so just the normal stable
factors of motivation where we've got a
decent salary decent and fair policies
in place physical environment being nice
with enough sunlight and you know not
hurting our backs and that sort of thing
but then we've got motivational factors
once those hygiene factors are met we
want achievement in the organization and
we want growth for ourselves as well
intrinsic versus extrinsic motivation
where intrinsic is internal and that's
things like autonomy so can we go about
our own way to solve the problem can are
we working towards mastery of this item
and do we have a higher purpose for what
we're working on extrinsic is external
motivation where we're looking at money
bonuses or status external to ourselves
the theory of needs from david mcclellan
people are driven by achievement power
or affiliation to something great and
theory x y and z from douglas mcgregor
we've got x where people are driven only
by income they're not ambitious and
these people need micromanagement but
then we've got why theory people who are
intrinsically motivated to do good work
and we can manage these as more of a
coach and just coach these people but
then we've got zed which is where people
are motivated by a higher calling and
they are working with a job for life
there are common models for change so
managing change in organizations this is
from the project management institute
itself where we formulate the change we
plan the change we implement the change
we sustain that change and then we
manage the transition to the new state
then we've got ad car as well which is
very popular where we want people to
have awareness of the change desire to
change knowledge of what is changing the
ability to change themselves and also
reinforcement once that change is in
place then we've got the eight steps to
change from john kotter where we want to
create urgency around the change form a
powerful coalition so make sure we've
got the right people on board creating a
vision for that future state
communicating that vision removing
obstacles to the new state
creating short-term wins as we go along
building on that change and anchoring
those changes in corporate culture
there's the virginia satir model where
we're looking at the late status quo
which is business as usual the foreign
element coming in which is a shift in
the status quo then we've got chaos
because you know things are new and
different then we've got the
transforming idea and then practice and
integration and then we've finally got
the new status quo
with the transition model it was from
william bridges we've got something that
is ending then we're going through the
state of losing and letting go of that
item then we've got the neutral zone and
finally we've got the new beginning for
the new state there are models for
complexity and with complexity we might
use the synopin framework from dave
snowden if an obvious cause-effect
relationship exists we can use best
practices to make a decision if a
complicated relationship exists we want
to assess the facts and just use good
practices if complex relationships or
unknown unknowns exist we want to probe
the environment we want to iterate
forward if chaotic environments exist we
want to stabilize the situation and take
steps to reduce the situation too complex
complex
lastly if a disordered situation exists
break it into smaller parts and assess
it from there we might use the stacy
matrix from ralph stacy this measures by
the uncertainty of the deliverable and
the technology to create it by how
simple it is complicated it is complex
it is or chaotic the item is there are
models for team development with team
development we've got tuckman's ladder
where the team is first forming we're
forming then we're storming so there's
lots of conflict as people work out
their roles and responsibilities they're
norming and getting into normal rhythms
and cadence performing once we've got
everything sorted out and finally as the
project finishes we're adjourning
there's the drexler sibling team
performance model where we want our team
to know the orientation why trust
building so who do who does what goal
clarification what it is we're here to
do the commitment how we're going to do
it implementation so the plan of how to
do it then we're moving into high
performance and ultimately renewal as we
move through the processes other
commonly used models we've got conflict
model where we want to confront or
problem solve with problem we might use
collaborating we might compromise with
our conflict we might smooth or
accommodate for the other person or we
might force through something or an idea
with a conflict or we might withdraw
from the conflict or avoid it that
includes negotiation as well where we
might have win-win approaches from all
of those ideas win lose or lose win and
then finally lose lose
funnily enough if we're compromising
usually it's a lose-lose situation
because we're giving something up and
the other person is giving something up
so it's actually known as a lose-lose
situation to have a win-win situation we
need character maturity and trust and we
need to approach the other person and
look at their point of view there's the
planning sweet spot from barry bowm the
planning sweet spot is between planning
up front to reduce risk and the time to
market benefits so we want to reduce the
time to market but we also want to give
enough time for planning and somewhere
in the middle there is the planning
sweet spot we've got the process groups
from the project management institute
where we're initiating planning our
project executing our project monitoring
and controlling our project and closing
our project as we go along and we've got
the salience model which looks at power
legitimacy and urgency of the
stakeholders that we're dealing with
now we're looking at commonly used
methods a method is a means for
achieving an outcome a result or a
deliverable now there are methods for
data gathering and analysis and we're
going to go through a speed round here
we've got alternatives analysis
assumption and constraint analysis
benchmarking where we're looking at the
same process amongst different teams or
organizations business justification
analysis we're looking at the payback
period or internal rate of return higher
is better here return on investment
which is the cost of the investment
versus the the return that we're going
to get on it net present value cost
benefit analysis which is our benefit
divided by our cost the check sheet to
check sheet for defects or sales cost of
quality which we've looked at prevention
appraisal internal failure external
failure decision tree analysis earned
value analysis expected monetary value
forecasting influence diagrams life
cycle assessment make or buy analysis
which we looked at as well probability
and impact matrix which we use for risk
process analysis like process flows or
process flow charts regression analysis
where we're looking at trends of items
reserves and reserve analysis which
we've looked at as well root cause
analysis which is our ishikawa diagram
or five wires getting to the root cause
of the issue sensitivity analysis which
is our tornado chart so that's how
sensitive an item to changes in the
future simulations like monte carlo
simulations stakeholder analysis like
our impact over influence that we did
look at before
swot analysis so strengths weaknesses
opportunities and threats of an item the
trend analysis value stream mapping
variance analysis and what-if scenario
analysis we did it well done we're going
to have methods for estimating and we
might have affinity grouping or
analogous estimating which is where
things were estimating based on things
that are similar to something else
function point metrics is the amount of
business functionality or in an
information system
multi-point estimating which uses the
optimistic estimate most likely estimate
and pessimistic estimate and we divide
that by three to just get an average
amongst the three parametric estimating
uses a parameter like fifty dollars a
meter or eighty dollars an hour relative
estimating use is used in agile and it's
estimated by how they relate to other
estimates single point estimating and
story point estimating we might use the
fibonacci method so 1 2 3 5 8 13 21 to
estimate for story points and then we've
got wideband delphi estimating which
does multiple rounds of estimates and
starts broad and then over time becomes
accurate as we do more of those
estimates methods for meetings and
events we've got a kick-off meeting
we've got iteration planning backlog
refinement daily stand-ups iteration
review and retrospectives which are all
agile or adaptive meetings and methods
we've got the change control board bit
of conferences lessons learned and we've
got planning meetings project closeout
meetings project reviews release
planning risk review meetings status
meetings and steering committee meetings
as well other methods that we'll come
across are things like impact mapping
modeling the net promoter score where we
ask on a scale of one to ten how likely
would you be to recommend us to a friend
and we take that and use that for our
customers we might have prioritization
schema for example moscow so must have
should have could have or won't have for
an item or time boxing that item
commonly used artifacts that we'll come
across an artifact is a template
document or project deliverable
strategic artifacts we might have our
business case we might have the business
model canvas we might have the project
brief or the project charter we might
have project vision statement and the
product roadmap as we go along
logs and registrars we might have are
the assumption log the backlog the risk
adjusted backlog which is where we've
got risk items or items of risk added
into our backlog and it's adjusted for
that we've got the change log the issue
log and the lessons learned register and
we've got our risk register for
capturing all those risks and
uncertainties the stakeholder register
captures all the stakeholders that we
need to engage with in our project other
commonly used artifacts are things like
our project plans and this describes the
how so the how to the process we'll use
and the boundaries for each of these
areas like the change control plan the
communications management plan cost
management iteration plan for agile
procurement management for external items
items
project management plan which ties it
all together quality management plan for
testing or quality release plan for when
we're releasing an item requirements
management plan so tying it back to the
requirements and the scope making sure
that's all managed together resource
management plan risk management plan
scope schedule stakeholder engagement
plan and our test plan as well
we might see hierarchy charts like an
organizational breakdown structure a
product breakdown structure a resource
breakdown structure a risk breakdown
structure or a work breakdown structure
to break down the work into smaller
pieces to work on baselines we might see
these are the original estimates for the
budget the milestone schedules
performance measurement baselines like
scope schedule or cost and the project
schedule scope baselines like the scope
statement which is the work breakdown
structure and the work breakdown
structure dictionary artifacts for
visual data and information we're going
to use affinity diagrams burn up or burn
down charts cause and effect diagrams
cumulative flow diagrams cycle time
charts which is where each one of these
items represents how long something is
taking according to the days on the left
hand side here dashboards flow charts
for a process gantt charts for our
schedule histograms as we capture data
information radiators so putting all of
our information on a wall lead time
charts prioritization matrix or a
schedule network diagram we might use
requirements traceability matrix
resource assignment matrix scatter
diagram s-curve for capturing data or
displaying data stakeholder engagement
assessment matrix story map throughput
chart use cases
value stream maps and velocity charts
reports we might see are the quality
report the risk report or the status
report agreements and contracts we might
see fixed price contracts cost reimbursable contracts which is where
reimbursable contracts which is where the we have the seller cost and then
the we have the seller cost and then they add a little bit on top for the
they add a little bit on top for the seller profit and these might include
seller profit and these might include the cost plus award fee cost plus fixed
the cost plus award fee cost plus fixed fee or cost plus incentive fee we might
fee or cost plus incentive fee we might have time and materials contracts
have time and materials contracts indefinite delivery indefinite quality
indefinite delivery indefinite quality contracts which is an indefinite
contracts which is an indefinite quantity of goods within upper and lower
quantity of goods within upper and lower limits within a fixed time frame and we
limits within a fixed time frame and we might have other agreements like
might have other agreements like memorandum of understanding memorandum
memorandum of understanding memorandum of agreement service level agreement or
of agreement service level agreement or basic ordering agreement boa other
basic ordering agreement boa other artifacts we'll see are an activity list
artifacts we'll see are an activity list bid documents like a request for
bid documents like a request for information request for quote request
information request for quote request for proposal
for proposal metrics project calendar requirements
metrics project calendar requirements documentation and project team calendar
documentation and project team calendar or user stories and that's it you've
or user stories and that's it you've done it you've made it to the end of the
done it you've made it to the end of the project management body of knowledge
project management body of knowledge seventh edition the entire thing we did
seventh edition the entire thing we did the whole thing well done guys i knew
the whole thing well done guys i knew you could do it and i have complete
you could do it and i have complete faith in you that you can take this
faith in you that you can take this knowledge and become a better project
knowledge and become a better project worker project manager or just use it to
worker project manager or just use it to improve your life i've had an absolute
improve your life i've had an absolute blast doing this with you and i hope
blast doing this with you and i hope you've had a good time too i'll see you
you've had a good time too i'll see you in the next video bye for now
in the next video bye for now [Music]
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