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Applied Project Management


In Applied Project Management you will learn real-world tools and techniques and put them to immediate use. This course will give you practical experience with proven tools and techniques for reliably estimating your next project’s scope, costs, schedule, and risk.


There is both an art and a science to managing a project. The BA owns the art: eliciting and defining the need. The PM owns the science: cost, schedule, and risk estimates of meeting the need. Achieving success requires effective planning and working together. This class will teach you how to do both successfully AND efficiently.


Classroom Live Online  21 PDU’s + 25 CPE’s Custom Sessions


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Class Description

Master both the art and the science of project management to produce reliable project plans, schedules, and cost estimates – With content aligned with both the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition and the IIBA BABOK® v2.0

This applied project management training course will teach you how to:

  • Take the methods, approaches, and theory and apply them to run real-world projects successfully
  • Understand how to effectively establish stakeholder expectations
  • Utilize exterior estimating models
  • Incorporate analysis tools in the development of Use Cases and the Project Scope Baseline
  • Pull consensus numbers from differing experts
  • Extract risk estimates from SME time estimates
  • Estimate contingencies for individual tasks or activities, and for your project as a whole
  • Apply resources to your schedule, and understand their cost and time ramifications
  • Proactively identify estimating risks
  • Use real-world results to your budget in order to reliably estimate future costs
  • Build critical metrics and use them to manage your projects

The ability to effectively and reliably plan your project is one of the key elements needed for project success.
A recent survey of over 8,300 IT projects that were undertaken by 365 different companies makes the problem clear – only 16% of these projects were completed on-time and on-budget. An earlier survey of over 1,000 general projects found only slightly more than 12% were considered successful.

Projects don’t fail at the end, they fail at the beginning.

Projects often fail because the key stakeholders (customers, project managers, and sponsors) are unable to translate their expectations into usable project requirements. As a result, this effectively prevents the production of usable time and cost estimates. Fixing issues arising from planning shortfalls is expensive, but preventing them with proven scope, cost, time, and risk estimating and management techniques isn’t. By learning and implementing the key skills taught in this course, you can significantly increase your project’s chances of meeting scope, finishing on time, and controlling costs within budget.

Theory and methods are good, but proven and practical tools and techniques equate to success.

In Applied Project Management you will learn real-world tools and techniques and put them to immediate use. This course will give you practical experience with proven tools and techniques for reliably estimating your next project’s scope, costs, schedule, and risk.

There is both an art and a science to managing a project. The BA owns the art: eliciting and defining the need. The PM owns the science: cost, schedule, and risk estimates of meeting the need. Achieving success requires effective planning and working together. This class will teach you how to do both successfully AND efficiently.

Immediate Benefits of Taking Applied Project Management:

  1. Use Function Point Analysis to measure the size and complexity of your project
  2. Develop Use Cases that can be used to identify project requirements and time and cost estimates
  3. Calculate the duration of your project using empirically proven estimation methods
  4. Establish baseline staffing requirements for your project
  5. Analyze Project Risks both qualitatively and quantitatively
  6. Factor Risk Analysis into your project estimations of time and cost in terms of person-days and dollars
  7. Create a Network Dependency Diagram to identify the Critical Path and the Critical Chain
  8. Create and utilize a time-phased budget (Cost Baseline) for your project
  9. Use Earned Value Technique (EVT) to track your project’s progress and identify specific trouble areas
  10. Revise budget-at-completion numbers to reflect the to-date efficiencies (or inefficiencies) of your project
  11. Use decision analysis to determine proper strategies while at the same time using sensitivity analysis to judge the quality of your decision
  12. Create strategies to effectively deal with both positive and negative risks to the project
  13. Effectively establish expectations – what your customer expects from you and what you expect from your sponsor
  14. Apply Monte Carlo analysis methods to your project’s estimates to significantly increase the reliability of those estimates
  15. Identify those risks which are most common to your type of project
  16. Present time and cost estimates to the customer, to upper-level management, and to your project sponsor that accurately represent the level of risk for the project
  17. Manage your project’s critical path in order to ensure proper resource allocation throughout the project
  18. Use linear programming to determine which activities may be crashed for maximum cost effectiveness
  19. Utilize the critical chain method to eliminate common estimating problems and produce a more reliable estimate
  20. Understand how to manage project constraints in order to meet the customer’s expectations

In-Class Workshops and Group Exercises – Applied Project Management:

Draw from the best practices of PMI® and the IIBA® — Harness this combined experience in just three days.

You’ll gain a practical understanding of how project requirements and estimation fit within the project management processes. Lively lectures are interspersed with insightful exercises that will immediately add important project estimation and management tools to your skill set. You’ll also gain the ability to add value to your planning process through the proactive use of Project Risk Management Planning. Create the reliable scope, cost performance, and schedule baselines (the first time) that your project needs in order to maximize its chances for success. Regardless of your organization’s environment, you can’t afford to miss this course! Specifically, you will learn:

  • Stakeholder Analysis Techniques
  • Exterior Estimating for Determining Resource Requirements & Project Duration
  • Function-Point Analysis with Use Cases
  • Employing Use Cases in Requirements Gathering and Estimating
  • Delphi Analysis
  • Determining Critical Path & Critical Chain
  • Qualitative & Quantitative Risk Analysis
  • Sensitivity Analysis
  • The Time-Phased Cost Budgeting
  • Earned-Value Analysis

Course Outline

Applied Project Management Training Course Outline

Section I – Manage Stakeholders

One of the most important jobs a project manager has is the management of stakeholder expectations. The proper performance of this task assumes that the project manager has first of all effectively gathered and fully understands his stakeholder’s expectations, and then that effective strategies have been put in place to support this goal. In the first section we will look at how to effectively gather your stakeholder’s expectations (even when they have not fully thought them out) and how to convey your expectations on how the project will be managed to those same stakeholders. Specifically we will consider:

•Stakeholder Analysis
•Paired Analysis
•Delphi Methodology
•a Priori Cost Estimating
•Risk Tolerance

Demonstrations and exercises will be utilized in conjunction with each of these topics to reinforce the class discussion materials.

Section II – Collect Requirements

The failure of many projects can be traced directly to the improper or incomplete gathering of project requirements. This topic is one that has been more fully expanded upon in the past few years by the establishment of the IIBA’s BABOK v2.0 (Business Analysis Body of Knowledge). In this section we will first compare PMI terminology with the IIBA’s, and then introduce the BA’s kit of specialized tools for eliciting and refining project requirements. In particular, we will look at:

•PMI Project Management Life Cycle
•IIBA Knowledge Areas
•User Interaction Diagram
•Context Diagram
•Activity Diagram
•Swim Lanes Diagram
•Use Cases

In-class exercises will be performed to give the student practical experience in the preparation of each diagramming tool, and specific attention will be paid to the drafting of different types of Use Cases.

Section III – Scheduling

Scheduling a project can be one of the most frustrating of processes. Project managers often find themselves dealing with constrained intermediate and end dates, inconsistent estimating techniques, improper consideration of the application of resources to a project, and a failure by team members to take into account scheduling risk. The value of expensive software programs to manage the project schedule can be totally negated by bad inputs to the scheduling mode. In this section we will consider the various types of estimating techniques and how, with proper understanding, their application naturally builds to a sophisticated critical path and critical chain tool that can be refined by the use of Monte Carlo analysis methods and Linear Programming techniques. Specific topics considered include:

•Analogous Estimating
•Parametric Estimating
•Function Point Calculations
•Three-Point Estimating
•Critical Chain
•Monte Carlo
•Schedule Compression
•Compression with Linear Programming

Each of the scheduling and computational processes discussed will be both demonstrated in class and provided to the student as an in-class exercise. These exercises stress an intuitive understanding of the concept combined with a jargon-free explanation that allows the student to quickly master the essentials of each technique.

Section IV – Qualitative Risk Analysis

Qualitative Analysis is used when risk must be estimated quickly, cheaply, and as a prelude to quantitative analysis; or when the necessary data for quantitative analysis is lacking. The output of qualitative analysis is a risk score which can provide both the project manager and the stakeholders with an overall understanding of the severity and magnitude of different risks. The steps used to perform qualitative risk analysis are:

•Risk Probability and Impact Assessment
•Probability and Impact Matrix
•Risk Data Quality Assessment
•Risk Categorization
•Risk Urgency Assessment

Examples will be worked in class showing the proper application of the qualitative analysis technique to current risks on student projects. The relationship of this analysis to risk response planning will also be discussed.

Section V – Quantitative Risk Analysis

Decision analysis is based upon the concept of expected value, or in project management, specifically Expected Monetary Value. Fully understanding the capabilities and limitations of decision analysis is necessary to properly utilize its several techniques in effective project management. The major topics discussed are:

•Expected Monetary Value
•Decision Tree Analysis
•Sensitivity Analysis

A full derivation of the expected monetary value concept will precede a number of examples and in-class exercises that will be used to completely develop the student’s understanding of these important tools.

Section VI – Earned Value

One of the major purposes of accounting information is “control.” That is, we do not gather accounting information just for the sake of gathering, but in order to gain a more complete understanding of what is going on in our organization with the goal of correcting problems early and effectively. Earned value extends this concept to the world of project management. Specific topics to be discussed include:

•Cost Budget
•Schedule and Cost Variances
•Schedule Performance Index
•Cost Performance Index
•Estimate to Completion
•Estimate at Completion
•To-Complete Performance Index
•Earned Value Analysis with CPM

The connection of earned value to the larger world of accounting will first be demonstrated, and then the full derivation of each of the pertinent formulas used by the project manager. The in-class demonstrations and exercises will fully develop the student’s ability to calculate and interpret the outputs of earned value analysis.

Who Should Attend?

Who Should Attend This Applied Project Management Training Course

•Any project professional who wants to develop a tool kit of skills and techniques to tackle their job more efficiently and successfully
•PMPs who need PDUs or IIBA CDUs but don’t want the same old Project Management song and dance class
•Project professionals work with or doing business analyst work
•Project professionals in any industry needing to develop strong, reliable and real-world estimating and metric development skills

Additional Info

Class Length

4 days

Class Locations

Live Virtual Class-Attend from Anywhere

Class Dates

Dec 15, 2015 thru Dec 18, 2015

Guarantee & Policies

Course registration info, our commitment to your privacy,

and general terms and conditions


Course registration information:

All courses carry Project Consult’s Guarantee of 100% Satisfaction: 
Project Consults provides an unsurpassed training experience. If for any reason you are not satisfied with the program, simply notify the instructor or registrar of your intent to withdraw from the program prior to the first morning break, turn in your course materials and receive a 100% refund. If at the end of the program day, you are unsatisfied with the program, we will credit your tuition towards a future program of your choice.

Payment Policy:
Payment is required at time of registration. Approved forms of payment include a company purchase order, PayPal, or credit card. We accept Visa, MasterCard, American Express, and Discover.

Courses are available as onsite training: 
All courses are available as onsite training at your location. On-site options can be very cost effective.

Course Hours:
This course begins promptly at 8:30 AM and ends at 4:30 PM, unless otherwise noted on the course page or in email notifications. Please arrive at 8:00 AM on the first morning of class to sign-in and meet your fellow attendees.

Shipping of Course Materials:
In an effort to reduce paper waste, course materials for live-online sessions will be digital. You will recieve information on how to obtain your course materials in your confirmation email.

Substitution & Cancellation Policy: 
If a change needs to be made to your public course registration (cancel, transfer, or substitution) Project Consults must receive written notice via email at If a cancel or transfer request is made less than 15 business days prior to the class start date, payment will still be due, no refunds will be issued and you will be charged a $200 change fee. Your paid tuition will be available for one year to be used as a credit towards another course of equal value; only one reenrollment opportunity is allowed. Failure to attend the course without written notification will result in forfeiture of the full course price. Student substitutions may be made at any time prior to the start of class free of charge. If a student substitution is made for a live, online session and any hard-copy materials have been provided to the initial student, it is the responsibility of the client to pass along those materials to the new attendee. If Project Consults is forced to cancel a course for any reason, liability is limited to the registration fee only. If you have questions or concerns, please contact or call 469-424-1084.

In certain situations, Project Consults may not have the required enrollment to hold a course as scheduled. We do our best to confirm every class, but our main mission is to provide students with the skills and knowledge to have a positive impact on their work performance. Based on this, should there be a cancellation for a class you are enrolled in, Project Consults will proactively automatically enroll you into the next available live, online session of the same course to provide you with the knowledge you originally needed. You will be notified during this process and have the ability to work with an Project Consults representative regarding alternate options if you are unable to attend the new session.

Substitution & Cancellation Policy (PMP Boot Camp): 
If you are unable to attend your scheduled training class, please contact us directly at 469-424-1084. We require a 16 calendar day notice to reschedule or to cancel any registration (and receive refund for payment). Failure to provide the required notification will result in a 100% charge of the course fee. If a student does not attend a scheduled course without prior notification, or contacts us to cancel within the notification window, the student will have the option to pay a $200 reschedule fee to attend one of the live, online sessions of the PMP Boot Camp. Within the notification period, only student substitutions will be permitted.

Hotel Reservations:
Project Consults does not set aside a block of rooms for class participants. If you wish to book a sleeping room please contact Project Consults for the best hotel options or recommendations. For directions to the course location please call Project Consults or you may also contact the training center or hotel directly.


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