Understanding Project Management: Key Concepts and Processes (Full Transcript)

Speaker 1: Well, if that is project, then what is project management? Project management is a discipline. And the first picture we discussed is project management. So what was that picture, friends?

Speaker 2: 10 steps, project management lifecycle and the role of PM and the 10 aspects.

Speaker 1: And the triangle. Yes. By doing how much time, how much cost, we're doing PMP, time, 35 hours cost, you have to pay me every time we meet, apart from what you already paid. So just kidding, right? The idea is that cost in terms of now, and the future, right? For example, we pay the PMI fee and all certification exam fee, that's the cost for you. Then building a quality product. That's what is focused. How do we do it? Five pillars. 1, 2, 3, 4, 5. Resources, which is the team will do it. When team comes in, what is the problem? How do we communicate and get the things done? So communication is a piece. Next is? Resources. Resources, communication, stakeholders, suppliers. And in doing all this, we encounter a lot of problems. But I don't care, I'll fix them. Because I know, this can go wrong. I know that can go wrong. Integration. Integration. And in doing the integration, we will find some challenges, right? Which we have documented from the beginning, or we will keep documenting them as we go through. They're all called as risks, right? But we don't know everything, right? Do we know everything?

Speaker 2: No.

Speaker 1: If you don't know everything, then that is called as uncertain item, but we need some money and time to fix that. And we'll talk about in the future classes that we use money from the management versus contingency. Contingency fund is to deal with the risks. We'll discuss the cost management, but applying the tools and techniques of project management to deliver a project. And that is what project management is all about. They're like 49 processes and five process groups. And I think the next slide is about that.

Speaker 2: I wanted to show you that.

Speaker 1: Oh, I don't want to jump the gun too much, but I'll come back to this. So in all, they're like 49 processes and five process groups. And as a project manager, we apply the tools and techniques. We deal with the triple constraints, we deal with timelines, budget constraints, quality issues, resources, and make sure that we manage the unknowns, problems, risks, mitigate them and deliver the project. Any questions, ideas, thoughts, concerns?