Introduction To Project Management Training: A certified project manager gets paid well because of the large skill set required and immense responsibilities that often result in a company’s bottom line success or failure.
Key among a project manager’s duties is the recognition that risk directly impacts the likelihood of success and that this risk must be both formally and informally measured throughout the lifetime of a project.
Most of the issues that impact a project result in one way or another from risk. A good project manager can lessen risk through excellent communications and ensuring every significant participant has an opportunity to express opinions and concerns.
Besides controlling risk, a project manager is called upon to make decisions – at lot of them both large and small. Every decision the project manager makes must directly benefit their project.
- Actual cost (AC), also known as actual cost of work performed (ACWP), shows how much money has been spent on a project to date.
- Cost variance (CV) indicates whether the estimated project cost is above or below the set baseline.
- Earned value (EV), aka budgeted cost of work performed (BCWP), shows the approved budget for performed project activities up to a particular time.
- Planned value (PV), aka budgeted cost of work scheduled (BCWS), is the estimated cost for project activities planned/scheduled as of reporting date.
- Return on investment (ROI) shows a project’s profitability and whether the benefits have exceeded the costs.
An effective project manager needs to establish key performance indicators (KPIs). These help ascertain how much has been spent on a project, the extent to which the project’s actual budget differs from what was planned, and so on. A few commonly known and used project KPIs include:
For a project manager to become truly successful, they must have the ability to align their project within the greater context of the company. Understanding the core business strategy is the key to reaching a positive outcome.
Most businesses today want their project managers to be intimately involved with every aspect of the project, including understanding and caring about corporate strategy. Key reasons why project managers should care about business strategy, include:
- Encourages stakeholder support
- Outcomes and outputs
- Enhances team morale
- Improves bottom line
Introduction To Project Management Training
Tonex offers Project Management Fundamentals, a 2-day course that focuses on project management as a core competency and the application of key project management tools and technologies across business units.
Who Should Attend
Managers and team members in cross-functional organizations who need basic project management skills will find this course very beneficial. Team leaders, new project managers, business users involved in IT projects and anyone interested in learning the basics of project management can also benefit from this course.
Related Courses
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—Project Management Essentials Training (3 days)
—Project Time and Cost Management Training for Scientists and Engineers (4 days)
—Project Stakeholders Management Training (3 days)
Why Choose Tonex?
- Reasonably priced classes taught by the best trainers is the reason all kinds of organizations from Fortune 500 companies to government’s most important agencies return for updates in courses and hands-on workshops.
- Course agenda can be tailored to fit the needs of your organization.
- Ratings tabulated from student feedback post-course evaluations show an amazing 98 percent satisfaction score.
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