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เข้าร่วมเมื่อ 23 พ.ค. 2021
Welcome to our channel on TH-cam.
We are Edzest Education Services and we provide Application based training in Project Management. the purpose of this Channel is to reach out to Project Management Professionals across the world through our content that is simple, easy to understand, and delivered using lot of practical examples that will help you relate your experience to these concepts.
Whether it’s the live interactive classes that bring out the best in you or the online modules at your comfortable pace, we have covered it all. We provide the options and you make the choices. So, follow our guidelines for study schedule, customize your own, or mix-and-match to create an effective study program that will reduce your effort in learning.
Come, join the community of people passionate about Project Management and longing for your success.
Let’s get started.
We are Edzest Education Services and we provide Application based training in Project Management. the purpose of this Channel is to reach out to Project Management Professionals across the world through our content that is simple, easy to understand, and delivered using lot of practical examples that will help you relate your experience to these concepts.
Whether it’s the live interactive classes that bring out the best in you or the online modules at your comfortable pace, we have covered it all. We provide the options and you make the choices. So, follow our guidelines for study schedule, customize your own, or mix-and-match to create an effective study program that will reduce your effort in learning.
Come, join the community of people passionate about Project Management and longing for your success.
Let’s get started.
PMP® Training Masterclass | Earned Value Analysis | Detailed Explanation | PMP® Exam Preparation
Unlock the secrets of Earned Value Analysis (EVA) and elevate your project management skills! 🎯 In this comprehensive video, we dive deep into the core concepts, formulas, and practical applications of EVA, a critical tool for monitoring and controlling project performance.
📈 What You’ll Learn:
- Understanding EVA: Grasp the fundamental principles of Earned Value Management (EVM) and how it integrates with project management.
- Key Metrics: Explore essential EVA metrics like Planned Value (PV), Earned Value (EV), Actual Cost (AC), Cost Performance Index (CPI), and Schedule Performance Index (SPI).
- Formulas & Calculations: Learn step-by-step how to calculate crucial EVA values and interpret their meanings for effective project tracking.
- Real-World Examples: Analyze real-world scenarios to see EVA in action and understand its practical significance in managing projects.
- Exam Tips: Get insider tips on how to tackle EVA questions on the PMP® exam with confidence.
📚 Additional Resources:
Practice Quiz on Earned Value Analysis - exams.edzest.org/learn/Quiz-on-Earned-Value-Analysis
PMP® Exam practice questions 2024 with explanations - th-cam.com/video/hfOGsiOFNs4/w-d-xo.htmlsi=dp4gn-6FuTIZxujC
Upcoming PMP® Masterclasses Registration - courses.edzest.org/
🔔 Subscribe: Stay updated with the latest project management insights, exam tips, and more by subscribing to our channel and hitting the notification bell!
👍 Like, Comment, and Share: If you found this video helpful, please give it a thumbs up, share it with fellow PMP aspirants, and leave your questions or thoughts in the comments below. We love hearing from you!
Connect with us on:
Phone/WhatsApp/Telegram: +91 9673332684
Mail: contact@edzest.org
#ProjectManagement #EarnedValueAnalysis #PMPExam #PMPPreparation #PMBOK #ProjectManagementTips #Agile #TraditionalApproach
📈 What You’ll Learn:
- Understanding EVA: Grasp the fundamental principles of Earned Value Management (EVM) and how it integrates with project management.
- Key Metrics: Explore essential EVA metrics like Planned Value (PV), Earned Value (EV), Actual Cost (AC), Cost Performance Index (CPI), and Schedule Performance Index (SPI).
- Formulas & Calculations: Learn step-by-step how to calculate crucial EVA values and interpret their meanings for effective project tracking.
- Real-World Examples: Analyze real-world scenarios to see EVA in action and understand its practical significance in managing projects.
- Exam Tips: Get insider tips on how to tackle EVA questions on the PMP® exam with confidence.
📚 Additional Resources:
Practice Quiz on Earned Value Analysis - exams.edzest.org/learn/Quiz-on-Earned-Value-Analysis
PMP® Exam practice questions 2024 with explanations - th-cam.com/video/hfOGsiOFNs4/w-d-xo.htmlsi=dp4gn-6FuTIZxujC
Upcoming PMP® Masterclasses Registration - courses.edzest.org/
🔔 Subscribe: Stay updated with the latest project management insights, exam tips, and more by subscribing to our channel and hitting the notification bell!
👍 Like, Comment, and Share: If you found this video helpful, please give it a thumbs up, share it with fellow PMP aspirants, and leave your questions or thoughts in the comments below. We love hearing from you!
Connect with us on:
Phone/WhatsApp/Telegram: +91 9673332684
Mail: contact@edzest.org
#ProjectManagement #EarnedValueAnalysis #PMPExam #PMPPreparation #PMBOK #ProjectManagementTips #Agile #TraditionalApproach
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Revised estimate is EAC or ETC
ETC… EAC is the revised budget: revised estimate + actual cost till now
I can see clearer with edzest. Thank you sir for the effort.
Good to know that. 😃
Excellent
Thank you!
Great refresher video! Thanks. @3:42:00 Question: Is using social media as a PRIMARY mode of communication ok? We generally, try to use a more secure communication method such as emails for projects, hence I opted for D.
Hi, using social media is absolutely fine in some org… while it may not be in others. Think of SM as not just the public posts but creating specific private groups and utilising it for benefits.
Is it correct to "influence" the sponsor prior to checking the OPA for suggestions?
Influence doesn’t have a negative connotation so it’s ok. OPAs won’t help if a feature is not aligned to vision. OPAs are process, policies, and knowledge base.
@@edzest Thanks 👍
@@syedzabiulla7589 you're welcome!
That was GreatOne.. Thanks for the explanation that was provided..
You’re welcome. Glad you liked it.
In the given scenario, the PM should discuss the importance of engaging with stakeholder's needs. Chief strategy officer will get impacted by the project, and their interest must be taken care of in the project. Option B is the best choice.
D
Absolutely right 👍
Thanks Amit, this video really helped me understand earned value analysis to a great extent. Also waiting for the task wise video of process domain :-)
That’s so good to know Alok. Process QnA will be uploaded starting tomorrow… 😊
A
Right 👍
Very helpful video Sir. Kindly make similar video for Process also. Your explanation is excellent !!!.
Hi Archana, thank you so much for your kind comments. We are starting process domain videos from this week onwards.
But the question is that the team donot have the required skill set. Working collaboratively does not help them, since already they do not have. To me,A is good as discussing with project sponsore to plan training for them is what to do.
Hi, the question says team members do not have “all the” skill sets necessary… no team does, especially in Agile… A team is built with regular efforts and learning, skills get developed. And collaborative work is the most effective way to do that. Sponsors shouldn’t be worried with execution related work, Project Manager is good enough to take care of that. PMs would go to sponsors mostly for approvals of the solutions they’d have arrived at but do not have authority to implement.
@edzest thanks alot.
@@ndingwanjuliette7284 you're welcome!
Hello AMITH I am delighted to say that I have passed my PMP examination and your videos have been of great help for me to really understand many of the basics and things… I really love the way you explain and it is really easy and helpful for all people who are looking forward for certification…. Thanks lot… Note : I have provided a review for you in google also for edzest…
Hi Russel, congratulations! So good to know about your success. 🎉🎉🎉 And thank you so much for your review on google as well. ❤️
Excellent video Sir.
Thank you! 😊
Question #1 Not sure why answer is A; The concern is lack of collaboration due to work Schedule, so how does remote team's virtual needs address this.
Hi, it’s the work schedule of the virtual team because of which they are not able to collaborate with other collocated teams. Hence, we need to address the virtual team’s needs (work schedule being a part of it).
Question 1 for task4 (Task 1.4 : 01:37:40)- empowering is focused on decision making, according to the PMBOK. Empowerment. Project team members who feel empowered to make decisions about the way they work perform better than those who are micromanaged. Empowerment. Empowerment involves choosing which responsibilities and forms of local decision making should be deferred to the project team. Some environments and team member capabilities support high levels of empowerment. In other situations, less empowerment with more supervision and direction might be preferable. Empowerment. Is the project team trusted, supported, and encouraged to own and develop its working environment, agreements, and decisions? How does organizing around team strengths will empower the team? By giving them the confidence of achieving the assigned job?
When you assign the responsibilities as per the strength, you are enabling the team members to take decisions on their own. Which is how you empower them. I hope I understood your question correctly, and have answered to your satisfaction. Do let me know.
@@edzest makes perfect sense... thank you!! 😉
@@tabathamuniz621 👍😊
Thank You I viewed your videos to prepare for the exam. Most effective information delivery. I passed the exam today.
That is so good to know Sweatank. Congratulations 🎉 And Thanks a lot for your comment. :)
I found the question interpretation very elaborative. I am preparing for my pmp and i think i found very useful resources. Thank you sir.
Thanks for your comment. And all the best for your exam prep… do let us know if you need any help/support.
if it was agreed to go ahead with 80%, the PM should accept the response and should go with C
Correct. :)
All your videos are very useful and the insights are great . Thank you for helping many aspirants. I have cleared my pmp last month end 🎉
That is so good to know Bhagya Lakshmi 🎉🎉 congratulations!
Question3 (Time 19 min in the Video) i believe we should go with Smooth/Accommodate as per PMBOK 7th Edition. Page 169, where it says when there is a disagreement with Sponsor..I believe Investor and Sponsor means the same.
That’s interesting to know Suhas. Let me check PMBOK and I’ll respond. But, as such, I don’t think just because it’s a conflict with Sponsor, we should always accommodate. Also, sponsors arrange money from investors; but both can be considered same.
Hi, I checked for the concerned page, yes, it does mention an example of Sponsor, but that's just an example. What's more important in that page, is when "reaching the overarching goal is more important than the disagreement". Here, in our question, the disagreement is on the methodology itself. Hence, it must be resolved well, rather than accommodating to Sponsor/Investor's point of view.
@@edzest Thanks for the reply, here also question says to take advantage, Investor is proposing...
@@suhaspai118 there are two points investor's and team member's... Unless we know that there's not much difference between both the points, we should not go for Accomodate, as a response.
@edzest thanks for the explanation. I am facing this issue while preparing PMP, in other simulator they said Accomodating in similar situation, so not sure what to refer.
Hello Amit. Thank you for explaining things in such a minute detail. It is very helpful. In Q# 5, when Proj Mgr has finalized the Execution approach and methodologies, does the team need to collaborate unless they are brainstorming? I chose the option D as the answer. I do agree the explanation in the video about the Specific contribution Idea is not needed. Still, feel like B is also not required. Please explain when you get a chance. Thank you again.
Hi Radhika, the question is how to create a healthy working condition/environment… collaboration and participatory decision making is the best. That’s why we selected B The last part of the question, the question statement itself, is very important. Because, whatever the information/situation might be in the questions, ultimately we have to answer the question asked.
D
👍🏻
If the team members are not having enough skillset to complete the iteration, how would working collaboratively solve the problem? I believe B is the better choice. Servant leadership , also helping the team to learn and acquire the skillset for future iterations . But one counter argument is development work if taken , would also result in not compeleting story points in 2 week iteration. Look forward hearing back from you guys
Hi Soumyadip, it’s not right for a project manager or a servant leader to start developing the product. Otherwise, who will manage the project? Also, the question doesn’t say that team don’t have skills, they probably lack some skills, which they can develop by working together and finding and learning new things. I hope this clarifies the doubt. Do let us know. Thanks.
It is very much normal and possible in an Agile project that the trams might not have all the knowledge or skills required to complete the job. In such cases, it is believed that if team works collaboratively, they will be able to figure out. Hence, first and best thing would be to help team work collaboratively. D is the best choice.
C
👍🏻
Sir , is there any videos likewise for process and business environment
Hi Shivaji, Yes, we are in the process of recording, will post the videos soon.
highly recommended .
Thank you so much! 🙏🏻😊
B
👍🏻
If the team members can not conclude themselves, the project manager must get involved and help the members. A is the best choice.
I've been slowly and steadily developing a PM mindset answering and watching the analysis of this complete video on people domain..it is very informative Task 1.10 question 1 what if the option D consists only revisit the scope management plan? Can it be considered as the best choice?
Hi, instead of scope management plan, reviewing the WBS would have been better as the PM would need to check whether the feature was part of scope or not. Thanks also for you kind comment about our video, glad that you find it useful.
@@edzest fair-enough! Is there any plan soon to prepare and upload the similar content on the process domain? Thanks again 😊
@@syedzabiulla7589 yes, we will. :)
Once the team has collectively decided that 80% vote is required from team members to take a decision, then the project manager also should abide by it. Asking for a second round or anything else is not required. The team should take the decision. Option C is the best choice.
Task 1.5 question 5, I have a slight thought . There are two constraint one is regulatory and other is changes. So by using mvp we can tackle changes for sure I agree but you cannot tackle regulation because we will need to check the product with regulatory body during mvp and during full fledge launch etc. But if you chose the option d, if we use fast fail then this might help better because it will fail fast for both regulatory and changes. ( But contingency still remains a question whether we can apply same if the risk of regulation and changes is applicable) As mentioned just thoughts😄 . Please advise.
You have got it right, Russ. Failing fast is a mindset/approach that will help us in checking quicker and MVP is a way to apply failing fast mindset. Option D is wrong because of the contingency reserve part of the option.
@@edzest thanks will take note of same
@@russ4u4love 👍
Highly recommended.
@@manjulabogoda2263 thanks Manjula... 😀
Very helpful and informative video
Thank you Mutashar! 😊
@@edzest most welcome dear sir
@@MustasharLand 😊
Great sir
Thanks! 😊
As the project manager is worried about the goals and direction, discussing the vision is a good choice. Conducting a workshop will be more effective than just informing the vision. Team building activity or stakeholder engagement aren't aligned to the problem at hand. Option B is the best choice.
THANK YOU SO MUCH!! The PMP questions in your videos are quite similar to those in the actual exam. Today, Passed my PMP exam.
You’re welcome! I am glad the videos helped you pass the exam.
In this scenario, the functional heads want detailed work (traditional) and team wants incremental (agile)...Hybrid is best since collaborations and finalizing a solution is not an option. Correct answer - C
Both the conflicting parties have tried their best, hence project manager's involvement is required. Best choice - C
In cases of conflict, it's better to discuss and find a solution to which both the conflicting parties would agree to. Collaboration would have been the best technique, but in absence of that, compromise is the best choice. Best choice - D
Your this segment of task base video is really helpful … Waiting for same task base video for process and business domain.. pl
Thanks a lot Dhaval. We will be uploading process tasks as well in July. 😊
A
👍🏻
Rearranging team assignment or identifying alternative suppliers are actions that are not justified from the question information, which only talks about an issue (conflict). Discussing about the Conflict with the conflicting parties would be the next best step. Correct Answer - A
Thanks for the superb explanation 😊
Thanks Saleem, I’m glad you liked it. :)
If the project manager is worried about something, then observing the interaction to verify the reason for worry is a good choice. Working from home or updating ground rules aren't verified solutions, which means we don't know whether it will work. Involving project sponsor isn't justified, the project manager should solve project execution related problems on their own along with the team. Correct answer - B
Why its not D
@@heenadhody7734 hi, it's an action that's not justified. Nothing in the question says that it's a problem with ground rules. PM is only worried for now, once the problem is established then the team will discuss for root cause and find the solution. If the solution decided by team is to update ground rules only then it will be a good choice. For now, it's an assumption.
Thanks Amit ❤ .
You’re welcome!
I took Exam yesterday and I got Passed in first Attempt as Above Target, thanks for your Videos which were very helpful to me😊
Congratulations Venkat… 🎉
I want to thank you 1st. I have a question after the control change board approve the change. What should be done next?
Hi Margaret, after approval, the team should change the plan as per the approval.