Hey guys, welcome to EduHubSpot PMP Mindset video series. In this video I am going to talk about my
next section, which is closing the project, how the project is closed in predictive,
and how the project is closed in agile project. So we will wear that PMI hat, we will differentiate
the two mindset theories of predictive and agile and let us see how you will do it.
But before I go into detail, you need to have this awesome mindset tool and how you will get that;
I will explain that to you, add the end of the video. But before that, we really want to make
sure we go right into the concept. First, you will get this tool for free, of course, don't worry.
But let's first understand the concept, which is much, much more important. Once you have the tool,
click on option six, which is closing the project. Okay, let us read; Closing the project.
In the traditional projects, predictive projects, the project manager will obtain
a stakeholder's or client's approval once the entire project has been wrapped up and completed,
the final report will be released and the deal will be concluded. The group will then share
any advice or lessons learned that might be used to future initiatives. Ensure all bills are paid
off and resources are released. So basically on the traditional side, how it happens is like,
the project manager will have that final report, will develop that final report. The stakeholders,
the customer has to give the sign off on the product and typically on the traditional side,
this sign off happens at the last stage of the project and it happens only once.
So in the traditional, it is done at the last stage, you release the resources, you make sure
all the bills are paid. You make sure there are no open claims. If you are using procurement or
contracts, you make sure all those things have been taken care. Typically, lessons learned are
done throughout, in traditional side, you will definitely do it at the end stage. Of course,
the preference is throughout, but at the end stage you will a hundred percent do that.
Okay, now let's read the agile side. The final review of the project should include a meeting
with stakeholders to review the final scope that was completed, the budget and the schedule. On
successful transfer of ownership from the Agile team to the operations team, the team should do a
final retrospective to concentrate on the lessons learned. So on the agile side, there is little
difference. So at the end stage of your agile, you will have the retrospective session. Now,
this retrospective session is not just done at the final, it is actually done throughout,
it's a dedicated meeting, which happens throughout the project. So lessons learned are managed
quite a different way on Agile first of all. Secondly, because you are giving the product
multiple times, like through sprints and all, there could be a chance that the customer gives
you the sign off throughout the project. Like first you created the MVP, the customer likes it,
the customer will give you the sign off on that. Then you will build the product on top
of it. Then the customer will again give you sign off. So customer can give you sign off
multiple times on agile projects as compared to on traditional projects where the sign off
is typically done only at the last stage of the project. So that's really the difference. But,
assuming you are creating a single product in Agile side, then you will only get one sign off,
which is at the last stage. But we typically on the agile side, we come up with prototypes, then
we build on top of that, then we launch to the market because we want to be quick in launching
the products. So you will, you or you need the sign off multiple times on the Agile side.
Okay, let's do the question. You are in the final stages of your project. Your project
sponsor requested your project team members to contribute to organizational learning. As
a project manager, what would be your next step? So basically you want to make sure that you
contribute to the organizational learning. A: Conduct a seminar at the organizational
level and share the project knowledge. Now, first of all, the sponsor is requesting you that they
want to contribute to the organization learning. For example, if your project
or your organization has 1000 employees, why would you do your project meeting or seminar
for the entire organization? I mean, you may do it, but if you really want to contribute
to the organization learning, just update your lessons learned register and update it to the OPA,
organization process asset and whosoever is interested, they can look it on their own.
I think conducting a seminar may be a too extreme choice, so I would not prefer that. But let's see.
I double clicked and it shows that it is the wrong answer. That is what I thought. Option B:
Conduct lessons learned meetings and update the lessons learned register regularly. Exactly,
so if you are updating it regularly, you are uploading that to the organization processes asset
and whosoever is interested, they can look at it. So B looks like the correct choice, but let's see.
Option C: Contribute to organizational learning whenever possible. Again, it shouldn't be
whenever, it actually should be throughout. So whenever possible is not the correct choice
for sure. Which is the wrong answer. I double clicked on that and it showed me it is a wrong
choice. Option D: Assign a team member for this activity. Too extreme choice. Just because you
want to have lessons learned, you really don't need a new resource for that. It is actually
the job of a project manager. So D is also an extreme choice. It should be wrong. That is it.
The correct choice we have is the option B, which is conduct the lessons learned meetings,
which is the correct choice. You can see the correct answer by clicking here.
You can see the correct answer choice. If you want to see the video explanation of why option B is
better, which I just explained you in this video. But you can have a dedicated video by clicking on
this link and it'll take you to a new video where I've explained the same question again.
There is another question, which is question number two. I want you
to practice this question on your own and you know how to do that. But before you do
question number two, first go on to the homepage. How to get this tool for free of cost. Just go on
my website, www.eduhubspot.com. When you go on my website, you will see two options over there,
either bottom right hand side, you will see an option of chat, like click on that chat option,
talk to one of my team member, or you request a demo, book a demo and you will directly, based
on the timeline, you can connect directly with one of my team member and they're going to set
up a 30-minute zoom call with you. Now, what is the purpose of this zoom call? They are going to
explain you how to use this tool. They are going to understand your background, what you are doing,
how you are doing in your studies, and they will give you some pointers. After the end of that zoom
call, they are going to email this mindset tool for you free of cost. If you are my student or if
you are not my student, you will irrespective of that, you will get this tool free of cost.
Only thing I ask from you is go on my website and talk to them. Give us those 30 minutes,
because ultimately I want to make sure that I am impacting your life, not just by
helping you pass the PMP exam, but you know touching your hearts. That is my end goal.
And please don't forget to like and subscribe to my YouTube channel because I am going to explain
this entire 15 concepts, everything. Like before the real PMP, you have to watch these 15 sections,
wear your PMI hat in order to pass this exam successfully and don't forget to send
me an email when you pass this exam because these emails helped me a lot. It motivates
me a lot to make something as beautiful, like something like PMI mindset tool, which I did.
I hope you guys, liked my Close the project video on the PMP Mindset series. Next topic,
we will talk about lessons learned. On the other side,
you will see my most favorite videos. I want you to watch that as well. Don't forget to mention,
comment on this video whether you liked it or not. Thank you.