The Advanced Skills for Project Managers

Introduction

In today’s dynamic and competitive environment, advanced skills in project management are essential for ensuring the success of complex projects. This course is designed to equip participants with the necessary skills to plan projects effectively, create detailed project scope statements, and develop a Work Breakdown Structure (WBS). Furthermore, participants will gain expertise in developing Key Performance Indicators (KPIs) to monitor and control project schedules and budgets. Additionally, the course will cover capital budgeting techniques to assess project feasibility and strategies for engaging project stakeholders and managing their expectations.

Course Objectives

The primary goals of this course are to:

• Plan projects using the Statement of Work (SOW) and Work Breakdown Structure (WBS).
• Schedule project activities and build the project network model.
• Calculate project budget and schedule variances using Earned Value (EV) techniques.
• Select the right projects using capital budgeting techniques.
• Relate to project stakeholders through better negotiation and communication skills.

Course Outlines

Day 1: Planning Projects

• Project management definitions and the importance of advanced project management skills.
• The difference between projects and operations.
• Managing project constraints and their impact on project outcomes.
• Applications and benefits of advanced project management in various industries.
• Understanding the project lifecycle.
• Defining project requirements using the Statement of Work (SOW).
• Developing project specifications and milestone schedules.
• Understanding and applying Work Breakdown Structure (WBS) decomposition.
• Guidelines for creating an effective WBS.

Day 2: Scheduling Projects

• Linking activities and sequencing using the WBS.
• Forward and backward scheduling techniques.
• Mastering the Critical Path Method (CPM) for project scheduling.
• Managing slack and its impact on project timelines.
• Understanding Program Evaluation and Review Technique (PERT).
• Techniques for schedule compression and their real-world applications.
• Resource planning and leveling techniques to optimize project timelines.

Day 3: Organizing and Controlling Projects

• Project organization and the essential role of control in project management.
• Mastering Earned Value Management (EVM) for project tracking.
• Calculating schedule and budget variances, and how to manage them.
• Project forecasting and reporting techniques.
• The use of project management software in organizing and controlling projects.

Day 4: Selecting Projects Using Capital Budgeting Techniques

• Understanding capital budgeting and its importance in project selection.
• Calculating cost of capital and determining project feasibility.
• Key financial metrics: Accounting Rate of Return (ARR), Payback Period (PP), Net Present Value (NPV), and Internal Rate of Return (IRR).

Day 5: Managing Project Stakeholders

• Identifying key project stakeholders.
• Classifying stakeholders based on their power and interest.
• Using a stakeholder power-interest grid to manage and prioritize engagement.
• Planning for stakeholder management and ensuring effective engagement throughout the project lifecycle.
• Techniques for controlling stakeholder engagement to align project goals with expectations.

Why Attend this Course: Wins & Losses!

• Develop Advanced Project Management Skills: Gain critical expertise in planning, scheduling, and managing projects effectively with advanced project management training. This course will sharpen your skills in handling complex projects and equip you with the tools to drive success.
• Optimize Project Scheduling and Budgeting: Learn how to manage project timelines and budgets through advanced techniques like Earned Value Management (EVM) and capital budgeting methods, ensuring your projects stay on track and within budget.
• Enhance Leadership in Project Management: Understand the importance of leadership in project management and how to lead project teams with effective communication and negotiation skills.
• Master Stakeholder Engagement: Learn how to engage and manage project stakeholders effectively, ensuring all parties are aligned and working towards common goals.
• Practical Tools for Success: Gain hands-on experience in using project management tools and software for planning, scheduling, and monitoring project performance.

Conclusion

By completing this course, participants will have acquired advanced project management skills essential for successfully managing and leading projects. You will be able to plan projects using Work Breakdown Structure (WBS), manage project timelines and budgets using Earned Value techniques, and select projects through the application of capital budgeting techniques. Additionally, the course will help you master stakeholder management and enhance your leadership role in project management. This course provides you with the tools and knowledge necessary for successful project execution and long-term project success.