120VC PM - On the Job Training
Every new 120VC Project Manager receives the 120VC Project Management Guidebook, our 600+ page textbook that fully explains 120VC’s project management approach. Built on the Project Management Institute’s (PMI’s) framework, our methodology goes beyond project management principles by providing the step-by-step instructions necessary to plan and manage projects successfully. Our project management methodology includes rigorous processes and integrated templates, and the Guidebook fully describes their application and use and provides instruction on the less tangible but equally important leadership, relationship-building, and executive communication skills required for effective project management.
At 120VC, project audits are the foundation of our rigorous on-the-job training program, which recognizes that the most effective learning results from reading, explanation, demonstration, and on-the-job application. Studies show that on-the-job training results in high quality more quickly, with more time spent managing projects and less time in a classroom.
When hired, Project Managers are immediately assigned to projects. During their first two weeks they are expected to read through the entire Guidebook and begin developing a basic understanding of our methodology. Their first project audit is conducted during their second week on the job. The audit points in the first four project audits are graded with a “pass” or a “teach”, giving our Project Managers five weeks of daily and weekly instruction before we begin holding them accountable for their audit scores.
As the instructions in the Guidebook cover and follow the sequence of the entire project lifecycle, not all are applicable during any one audit. The first audit covers daily project management activities and the first Planning phase deliverable. Subsequent audits continue to be aligned with the project lifecycle, giving the Project Manager time to study the Guidebook and apply the instructions as they become applicable. During the weekly project audits the Auditor evaluates the Project Manager’s understanding of the instructions in the Guidebook through review of their completed work. The Auditor can then provide targeted instruction specific to the current project management deliverables, ensuring a high degree of comprehension and retention.
Audits are not intended to function as tests but to provide opportunities for Auditors to coach Project Managers on the application of our methodology, to develop and maintain an intimate familiarity with the projects they are auditing, and to collaborate with Project Managers on solutions to issues. Accordingly, Project Managers are expected to be using the audit checklists as part of their daily activities to ensure that their deliverables meet the requisite quality prior to publication. As our methodology is built on the PMI’s framework the time spent in audits qualifies for the Professional Development Units (PDUs) that are necessary for our Project Managers to maintain their PMP certifications.
In addition to the Guidebook and on-the-job training provided in project audits, we provide our Project Managers with instructor-led training for each of the chapters in our Guidebook. Since studies show that students only retain 10% of what is taught in a classroom but 90% of what is learned on the job, our Project Managers are required to achieve and maintain a 95% audit average for 3 consecutive months to qualify to attend our instructor-led training courses. By having our Project Managers read, apply, and master the Guidebook contents on the job, we significantly increase the effectiveness of our instructor-led training courses. The classroom training focuses on clarifying Guidebook material so Project Managers can pass our stringent project management certification exam. The instructor led-training also qualifies for the Professional Development Units (PDUs) that are necessary for our Project Managers to maintain their PMP certifications.
All of our Project Managers begin their 120VC careers at Level 1, regardless of their past experience. A fundamental requirement for advancement to Level 2 is mastery of the 120VC methodology as shown in the quality of their work, their audit scores, and their ability to earn the 120VC Project Management Certification (120PMC). To do so, Project Managers must first qualify to sit for the certification exam by maintaining an average audit score of at least 95% during the preceding 3 consecutive quarters and must then pass the exam with a minimum score of 90%. The exam has over 300 questions testing knowledge of all aspects of our project management methodology.
The difference between certification from the PMI (the PMP) and from 120VC (the 120PMC) is simple. The PMI certifies an individual’s level of knowledge of the PMI’s project management principles. 120VC certifies that a Project Manager has mastered a methodology for applying those project management principles and has demonstrated the ability to deliver projects with a high degree of quality.
Accordingly, the 120PMC is not intended to replace but complement the PMP: the knowledge required to earn the PMP provides a general background, principles, and concepts – like an undergraduate program – while the knowledge and experience required to earn the 120PMC is like that of a professional degree.
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