Project Management: Planning Work, Managing Time, and Handling Risks

This course teaches how to turn a vague idea into a finished project. You will learn to define exactly what work needs to be done so you do not waste time on the wrong tasks. You will learn how to build schedules that stay on track and how to spot problems before they ruin your plan. The course explains the difference between planning everything at the start and adjusting as you go. By the end, you will know how to pick the best method for your team and keep everyone informed of your progress.

Defining the boundaries of work

The learner will be able to write a scope statement that clearly lists what a project will deliver.

Key takeaways

  • A project scope statement defines the boundaries of a project by listing what is included and what is excluded.
  • Project objectives should be SMART to ensure they are specific and can be measured.
  • Listing exclusions is the most effective way to prevent scope creep and manage stakeholder expectations.
  • Acceptance criteria provide a clear checklist that must be met before a project can be considered finished.

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Breaking big tasks into small pieces

The learner will be able to create a work breakdown structure to organize project tasks.

Key takeaways

  • A Work Breakdown Structure organizes a project into a hierarchy of tangible deliverables rather than a list of chronological steps.
  • The 100% rule ensures that the sum of all smaller tasks exactly equals the total scope of the project with no work left out.
  • Work packages are the smallest units of a WBS and should generally represent between 8 and 80 hours of work.
  • Using nouns to describe WBS elements helps maintain focus on the final results and prevents the structure from becoming a simple task list.

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Estimating time and building a schedule

The learner will be able to calculate a project timeline using the critical path method.

Key takeaways

  • The critical path is the longest sequence of tasks that determines the minimum time a project will take.
  • Tasks on the critical path have zero float and will delay the entire project if they are late.
  • The forward pass calculates the earliest possible start and finish times for every task in the network.
  • The backward pass determines the latest possible start and finish times by working from the project deadline.

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Finding and preparing for risks

The learner will be able to identify project risks and plan how to respond to them.

Key takeaways

  • A good risk description includes the event, the consequence, and the impact.
  • You calculate a risk score by multiplying how likely it is by how much it will hurt.
  • Every risk needs a specific owner to watch it and a plan to handle it.
  • Reviewing your list of risks every week keeps them from turning into surprises.

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The traditional step-by-step approach

The learner will be able to explain the phases of the waterfall model and when to use it.

Key takeaways

  • The waterfall model follows a strict linear sequence where each phase must be finished before the next begins.
  • The six core phases are requirements, design, implementation, testing, deployment, and maintenance.
  • This model is best for projects with stable requirements, fixed budgets, or strict regulatory and safety needs.
  • Extensive documentation is used throughout the process to ensure traceability and provide a clear audit trail.

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Working in short cycles

The learner will be able to describe the core principles of agile and the scrum framework.

Key takeaways

  • Agile prioritizes working software and responding to change over following rigid, long-term plans.
  • Scrum is built on the three pillars of transparency, inspection, and adaptation to manage complex work.
  • The Scrum framework consists of three roles, five events, and three artifacts that work together in a fixed-length cycle called a Sprint.
  • Every Sprint must result in a usable Increment that meets the team's formal Definition of Done.

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Comparing the two main methods

The learner will be able to choose between agile and waterfall based on project constraints.

Key takeaways

  • Waterfall works best for projects with fixed requirements and strict regulatory needs.
  • Agile is more successful for innovative work because it allows for changes based on real feedback.
  • Combining a fixed-price contract with Agile methods often leads to project failure and disputes.
  • Hybrid models can provide a balance by fixing the cost of short work cycles instead of the whole project.

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Keeping projects on track

The learner will be able to use status reports and meetings to monitor project progress.

Key takeaways

  • Use a Red-Amber-Green system to provide an instant visual health check for stakeholders.
  • Calculate the Cost Performance Index and Schedule Performance Index to objectively measure if a project is on track.
  • Shorten reports for executives to focus on business outcomes while providing technical details for engineering teams.
  • Match the frequency of status updates and meetings to the speed and risk level of the project.

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