Value of Project Management Trainings
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Project management trainings provide significant benefits to organizations. A survey found that over 90% of participants reported moderate to extreme improvements in their knowledge, job performance, and factors like cost, schedule and quality after trainings. Trainings are delivered through various modes like classroom and online. Companies typically select private training companies over in-house options. Project management is a growing profession essential for completing large projects in industries like construction and IT on time and on budget.
Value of Project Management Trainings
- 1. Value of Project Management Trainings Presented by Hari Prasad Thapliyal Agilest & Project Management Trainer, Coach & Consultant (MBA, MCA, PGDOM, PGDFM, CIC, PMP, PMI-ACP, CSM, SCPO, SDC PRINCE2-Trainer, Scrum Certified Trainer, Microsoft Certified Trainer, ZED Master Trainer)
- 2. Thought Provoking…. • Ever wondered how the swank IT parks in your city are set up so quickly? Or how new airport get constructed? Or how bridges and tunnels are built across the ocean? • Success of such ventures depends on effective project management • Project management is not just planning but also anticipating problems and still managing to complete the project within the time and budget • Key differentiator in getting projects are ability to deliver quality, meet deadlines, effectively manage resources and meet last minute change requests Source: http://www.articlesbase.com Jul’2009
- 3. Thought Provoking…. • Billions being invested in large projects. Value of India Infrastructure By 2017 is $1000 Billion • Expected shortage of 6 million skilled project professionals by 2013 • 20 million people participating in projects worldwide, just 1% have professionally recognized formal project management training Source: Indicus Report, Feb’2010
- 4. Some facts… • One fifth of the world’s GDP (US$ 12tn) is being spent on projects • PM is only profession where the income levels continued to rise despite the recession • Project Management professionals are in demand across various industry segments including IT/ITES, Constriction, Infrastructure, Engineering, Finance, Manufacturing, Health Care & Service Industry • IT industry, Civil construction works almost entirely on project basis • Industry leaders like Infosys, TCS, HSBC, ABB, Hewlett Packard, GE, Siemens, Ericsson, HCL Technologies, KPMG, Alcatel-Lucent, Johnson & Johnson, Sun Microsystems, L&T just to name few- have recognized the importance of project management in their organization. • Companies like L&T has their on in-house Project Management Academy and still takes project management training from industry experts. Source: http://www.articlesbase.com Jul’2009
- 5. Need of hour…. • An educational program required for practitioners & starters • Research in project management field • Develop standards • Develop and credential • Authenticate the skill level of professional project manager • Role of PMI
- 6. PMI® & PMP® An Overview
- 7. PMI® - Overview • Largest Not-for-Profit Organization for Project Management Professionals • PMI has 12 standards for project, program and portfolio management and they are most widely recognized standards in the profession • Credentials, Research, Standards, Promotion of Project Management Profession • PMI offers 5 global certifications • More than 250 chapters, and 30 industry or interest-based communities of practice • Truly global membership with representation in 190+ countries • PMI has 1400 REPs across the global
- 8. PMI® - Overview… • PMI Offices is in Newtown Square, Pennsylvania in the USA. • Founded in 1969 by working project managers • Governed by a Board of Directors; elected “volunteer” members • Chapters act as “franchises”, providing education and networking Opportunities • Specific Interest Groups (SIGs), for similar industries or similar interests. • More than half million members and credential holders worldwide
- 9. PMI® – Membership Benefits • Member’s only services and discounts on many of PMI’s valuable products • Free Copy of the latest edition of the PMBOK® Guide CD ROM • Subscriptions to PM Network®, Project Management Journal® and PMI Today™ • Join PMI’s Chapters, Specific Interest Groups (SIGs) and Colleges • Access the Members Area of the Web site • Access the PMI Member Community online http://www.pmi.org/Membership/Pages/Types-of-Memberships.aspx
- 10. PMP® – Certification Benefits Provides professional and personal recognition Expedites professional advancement Creates job growth and opportunities within an organization Provides a framework for standardized project management requirements Increases an employee’s value to the organization A major benefit that organizations - a truly global certification. PMI Certified Project Managers are a preferred lot by any organization worldwide High Demand due to short supply of Certified Project Managers Increase in compensation within the organization
- 11. Project Management Standards Projects 1. PMBOK 4th Edition, 2008 2. Schedule Management 3. Risk Management 4. Configuration Management 5. Practice Standard for Work Break Down Structure 6. Practice Standard for Earn Value Management 7. Construction Extension 8. Government Extensions
- 12. Project Management Standards Portfolio 9. Portfolio Management Program 10. Program Management Organization 11. OPM3 People 12. Project Manager Competency Development Framework Profession
- 13. PMP Journey
- 14. PMP Prerequisite • Secondary Diploma + 5 Years Experience in Projects+ 7500 Hours + 35 PDU Or • 4 years degree + 3 Years Experience in Projects+ 4500 Hours + 35 PDU
- 15. Seven steps in the Journey towards PMP® Become a PMI member. Cost 129 US $. Time span : On line or One week Mandatory training/PM education for 35 hours of credits (chapter,university,institute or REP) Prepare for Exam Receipt of PMP examination eligibility notice from PMI ( (Time : 5 Days)) 7 R E F E R E N C E B O O K S Submit PMP examination Application. (You get 90 days to complete application) Submit Fees (Cost : US$ 405) get eligibility letter schedule Exam Execute,Succeed & Celebrate Time : 4 Hours 7 6 5 4 3 2 1 PMP
- 16. PMP Costs of Certification • Registration fees for 35 Contact Hours program through a R.E.P • PMI Membership Fees for General Candidates: $129 • PMP Examination Fees – Non-Members USD $555 – PMI Members USD $405 • Re-Examination Fees – Non-Members USD $375 – PMI Members USD $275
- 17. Post Successful PMP Certification • Certificate is valid for 3 years • Within three years individual need to earn 60 PDU • Go to www.pmi.org for registering 60 PDU & paying 60$ (current fee) • Your certificate will be renewed for next three years
- 18. 12 Ways of earning PDU 1. PMI's Knowledge Shelf 2. PMI® Publication Quizzes 3. Volunteer Service 4. Registered Education Provider (R.E.P.) Courses 5. PMI® Global Congresses 6. PMI Community Offerings 7. SeminarsWorld® 8. eSeminarsWorldSM 9. Web-based Self-Study 10. Professional Activities (10-30 PDU) 11. Self-Directed Learning 12. Educational Programs by Outside Providers http://www.pmi.org/Certification/Twelve-Ways-to-Earn-PDUs.aspx
- 19. CAMP Journey
- 20. CAPM Prerequisite • A secondary diploma (high school or the global equivalent) AND • At least 1,500 hours experience OR 23 hours of project management education.
- 21. Seven steps in the Journey towards PMP® Become a PMI member. Cost 40 US $. Time span : On line or One week 1500 Hours experience OR PM training for 23 hours of credits (chapter, university, institute or REP) Prepare for Exam Receipt of CAMP examination eligibility notice from PMI ( (Time : 5 Days)) 7 R E F E R E N C E B O O K S Submit CAMP examination Application. (You get 90 days to complete application) Submit Fees (Cost : US$ 225) get eligibility letter schedule Exam Execute, Succeed & Celebrate Time : 3 Hours 7 6 5 4 3 2 1 CAMP
- 22. CAPM Costs of Certification • Registration fees for 23 Contact Hours program through a R.E.P • PMI Membership Fees for Students : $40 / Year • CAMP Examination Fees – Non-Members USD $300 – PMI Members USD $225
- 23. Post Successful CAPM Certification • CAPM certificate is valid only for 5 years • Re-exam (CAPM or PMP) is required for recertification
- 24. Benefits of Project Management Trainings
- 25. • Some facts from the survey results published in PMI-KPMG research magazine. • Survey was done by Centre for Business Practices
- 26. Profile of Participants 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% Manufacturing IT Professional scientific and technical services 19% 15% 13% Industry Representation 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Project/Program Manager Project/Program Director PMO Managers 47% 17% 15% Participant’s Profile 0% 10% 20% 30% 40% 50% $ 1b > $50 m < $1b < $ 50m 45% 19% 36% Annual Sales of Companies
- 27. Moderate to extreme improvement due to PM Training Initiatives 96% 81% 91% 46% 75% 67% 62% 63% 66% 78% 69% 0% 20% 40% 60% 80% 100% 120% Satisfaction with PM Training Participant's knowledge or skills improvement Participant's on-the-job performance Cost performance improvement Schedule performance improvement Requirement performance improvement Improvement in Quality Improvement in Productivity Improvement in Cycle time Improvement in employee satisfaction Improvement in Customer satisfaction
- 28. Mode of Training & Selection 0% 5% 10% 15% 20% 25% 30% 35% 40% On-site class room Off-site class room E-learning (instructor-led and self-directed) 40% 22% 27% Training Delivery Method 0% 10% 20% 30% 40% 50% 60% Private training or consulting companies In house trainers Independent training instructors 57% 43% 34% Source of PM Training 0 1 2 3 4 5 6 Criteria for Selecting Training Source