Is Project Management Really Worth It By Dr' Keith Mathis, PMP The Mathis Group Registered Education

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Is Project Management Really Worth It?ByDr.
Keith Mathis, PMPThe Mathis GroupRegistered
Education Provider
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Successful Organizations Use Project Management

• Boeing
• HP
• 3M
• TRW
• Department of Defense
• FCC

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Defining Project Management

• A process which best guides a project to its
  completion using the people, budget, and
  resources to their maximum benefit.

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What Makes Project Management So Different?

• Many projects are attempted with no past history.
• The project begins and ends with a clear cut
  plan.
• Many people have other duties that monopolize
  their time.
• There is a scarcity of resources.

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Types of Internal Plans

• Pilot plan
• Evaluation plan
• Equipment plan
• Reporting or communication plan
• Training plan
• Transfer of knowledge plan
• Contingency plan
• Crash plan
• Close down plan

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WBS Planning Includes

• Phase Planning
• Scope for phase
• Resources for phase
• Risk for phase
• Change strategy for phase
• Communication plan for phase
• Quality plan for phase
• Budget plan for phase
• Schedule of work plan for phase

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Planning for Risk

• Plan the method of determining risk.
• Make clear roles and responsibilities.
• How much risk can we tolerate?
• What would it take to avoid this risk totally?
• Is it possible to transfer the risk through
  insurance or guarantees from vendors?

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Risk Identification

• Which project risks are the most threatening?
• Who is best able to identify the real risks for
  this situation?
• What is the ability we have to tolerate and
  recover from risks?

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Risk Categories

• Organizational risks
• External risks
• Management risks
• Project quality risks
• Performance risks
• Technology risks

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Project Integration Management

• Includes the processes required to ensure that
  the various elements of the project are properly
  coordinated
• Involves making tradeoffs among competing
  objectives and alternatives to meet or exceed
  stakeholder needs and expectations (PMBOK)

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Integration of All

• Business
• Marketing
• Finance
• Contracting
• Operations
• Production
• Services
• Movements
• Technical
• Engineering
• Sciences
• Design/development

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Lack of Process Integration
Project Management Methodology
Internal Process Management
Management Styles and Culture
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Partial Process Integration
Project Management Methodology
Internal Process Management
Management Styles and Culture
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Full Process Integration
Project Management Methodology
Internal Process Management
Management Styles and Culture
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Project Integration

• Excellent companies integrate 5 main management
  processes
• Project management
• Total quality management
• Concurrent engineering
• Risk management
• Change management

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Process Integration For Today
Internal Process Management
Project Management Methodology
Risk Management
Project
Change Management
Management Styles and Culture
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Spending Increased For Project Management Training

• Significant spending to enhance project
  management practices confirms a growing
  understanding of the value of project management
  and a commitment to its use throughout the
  organization.
• On average, companies around the globe spent
  177,000 (US) in 2005 enhancing project
  management practices.
• Healthcare companies lead in spending to enhance
  project management capabilities (345,000 on
  average).

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Stats on PMI

• U.S. companies are leading, with 96 percent
  currently employing professional project
  managers.
• 88 percent of companies employing project
  managers hire them as full-time employees.
• Leaders of project management divisions, almost
  universally, have access to the executive suite.

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• 93 percent strongly agree that project management
  is a valuable asset.
• 90 percent agree that project management is an
  effective way to ensure success.
• 73 percent agree that project management will
  become a strategic imperative over the next few
  years.

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Is The PMP Really Worth It?
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Registered Education Providers

• World wide REP 1056
• North America REP 618

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Defining Credentials

• PMP Project Management Professional
  Certification
• Bachelors Degree
• 4500 hours 5 year period, 35 PDUs
• No Degree
• 7500 hours 8 year period, 35 PDUs
• CAPM Certified Associate in Project Management

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Eligibility Criteria- PMPHigh school diploma or
equivalent 7,500 hours in a position of
responsibility leading and directing specific
tasks and 60 months of project management
experience, 35 hoursBaccalaureate degree (or
equivalent) 4,500 hours leading and directing
specific tasks and 36 months of project
management experience
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Eligibility Criteria- CAPM High school diploma
or equivalent 1,500 hours of work on a project
team OR 23 hours of formal education
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Work

• Foundational theories and models which can be
  used to equip other workers.
• Creation of best practices for the establishment
  of solid ways of handling projects.
• Exposure to new ideas.

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Personal

• Know you have understanding and show your
  qualifications through an international test.
• Know you have something to offer.
• Know you have the ability to solve problems, not
  just recognize them.
• Know you can set yourself apart.

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Educational

• PMP is being examined as equal to a Bachelors
  Degree.
• PMP will be a bona fide hiring requirement.
• Project Management is becoming a mainline
  Masters program around North America.
• PMP is an international certification.

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Financial

• PMPs earn more than 7000 to 17,000 more than
  non PMPs.
• PMPs in the future will command even more as
  instructors, writers and professional project
  managers.

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Options

• More money
• Additional work opportunities
• Work after you retire to supplement your income.

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Forecast Of PMP
8000 New PMPs Monthly 96,000 yearly5 years
480,000
480,000
184,468
Number of New PMPs
105,008
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Membership

• 208,660 Overall members
• PMP January 2006 - 105,008
• December 2006 - 184,461

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Why Get Your PMP NOW?

• PMP is a way of exposing yourself to mainline PM
  theories and models.
• PMP is growing at a fast rate, and you are ready
  when new jobs open.
• PMP is an international standard and allows you
  to separate yourself from other project managers.
• PMP is a proactive credential, and new criteria
  and requirements will follow.

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How Is PMI Helping Your Career?

• 23 increase in marketing during 2006
• ISO 9001 certified
• Forbes CEO forum

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Baby Boomers Will Be Leaving The Workplace

• 77 million BB will leave the workplace within 5-9
  years.
• 40 million Generation X are left to fill those
  positions.