PMP Insights

Change vs Risk Project Management

Change vs Risk Project Management

Project Management
Change versus Risk:  The quick and straightforward definitions for "Change" and "Risk" are as follows: changes are usually unexpected, and almost always unwelcome, though they need not be. More on that later. "Risks," on the other hand, are typically identified, qualified, quantified, and planned for, to some extent, within the "planned risk response" process. However, there still could be some unforeseen aspects (i.e., changes) in identified risks. Our qualification and quantification of the probability of a risk occurring, as well as their impacts, are, as we all know, estimates and not an exact science. We genuinely do not know how bad or good a risk will be until it appears, and we address it. On the other hand, "changes," when they occur, almost always automatically come with risks. These can…
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The Importance of Project Management Certification

The Importance of Project Management Certification

Project Management
Whether you are considering getting certified as a Project Management Professional (PMP) or as Agile Certified Professional (PMI.ACP) or as a PRINCE Practitioner, the benefits to you as well as your employer and client are numerous. In my 30+ years of professional experience, I have been surprised to find that there are so many staff members who carry the title of the project manager but do not know the basics of project management, such as developing a project plan, defining the baselines for scope, time and cost, managing changes and risks, as well as other critical factors for attaining success in their projects. Therefore, I am a firm believer that there has to be some sort of licensing process to ensure quality and professionalism in the people we entrust with…
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Managing Risk Decreases Stress

Managing Risk Decreases Stress

Risk Management
If you are like me, the chances are that most of your stress, the stuff that makes you lose sleep, are things that might happen, but have not yet done so. Sure, there are plenty of ideas on hand to stress us out, but uncertainty and fear of the unknown are usually at the top of the list for most people. Questions such as - ¨will my project fails altogether?”, “will I lose that key client I need?”, “will I go over budget on this project?” and so on. The above and many other questions that go through our minds are ¨risks.” However, so are “positive” uncertainties. Since all is going well on my current project, chances (probability) are high that I will get more work from this client.” More…
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Scope of Services

Scope of Services

Project Management
The importance of writing a "great" scope of services: How many times are we disappointed because we did not get what we felt we asked for? And how many times have clients and/or other stakeholders told you that their expectations were not met? If you answer "not many," then you are one of the few people who write very detailed scopes and do not leave much to interpretation and assumptions. More often than not, we look at work, life, ethics, and so on throughout our prism, which is healthy and helpful because it is what helps us establish relationships with like-minded people, whether they are spouses, friends, or clients and associates. By expressing our opinions and how we see the world, we are sending a message to others of the…
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Project Management Fundamentals

Project Management Fundamentals

Project Management
A technique you may utilize to decrease a project's schedule and accelerate task completion with the addition of resources to critical path pursuits or by cutting down on project requirements. Before you begin a project, it's important to be aware of the overall aims of the undertaking, in addition to the scope, deliverables, risks, assumptions, project organization chart, etc.. Each Project has plenty of components. Complex projects are going to have a range of activities running in parallel. The project isn't over when the project targets and objectives are met. Instant access to the important information for architecture and engineering project managers to comprehend the status of their projects like budget control and where projects are regarding profitability. Second that you're seriously interested in the undertaking. Every thriving project is…
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Help Your Team Manage Project Risks with a Risk Assessment Plan

Help Your Team Manage Project Risks with a Risk Assessment Plan

Project Management
Project managers are faced with the daunting task of not only seeing a project from start to finish but also anticipating the risks that could come up along the way. Risks can reveal themselves in every stage of the project, including during initiation, planning, executing, controlling, and closing the project. When problems do arise in a project, it’s important that the response maintains company standards, reflects your brand and mission, all while getting the project back on track to meet strategic goals. A project management risk assessment plan is an essential component of the project planning phase. This plan will allow you to pivot when the unexpected occurs. Workshops for Professional Development How to Write a Risk Assessment Plan Your risk assessment plan should identify potential problems, predict the likelihood…
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5 Project Management Basics for New SMB-Owners

5 Project Management Basics for New SMB-Owners

Project Management
The beginning of every small business adventure can be tricky for new entrepreneurs. Most people have never run a business before and therefore need to approach this challenge with utmost commitment. This included a lot of thinking, planning, and calculating before accepting every new project. When you estimate what is needed to successfully manage the project, you need to consider the following tips. They’re meant to assist SMB-owners in establishing the internal project management structure. Also, they will help novice SMB-owner deal with their projects in an organized and productive way. Set the internal deadlines At the beginning of every new business project, the client and the service provider set certain deadlines. Some clients are open to flexible deadlines, especially if they have specific projects (think special design needs). However,…
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Level up your score on the PMP Exam

Level up your score on the PMP Exam

Project Management
Project Management Professional – Guaranteed Tips and Tricks to score well. Managing projects worldwide sounds like an exciting career! But let me clear about the fact that project management is not as simple as it sounds. This article offers a sense of what you need to do to pass the PMP exam and how project management is expanding student’s interest while making this world a better place with unique projects. Project Management develops a full-fledged detailed plan before starting a project. A good project managing plan includes five must-follow steps for all the project managers. These steps are as mentioned below: Initiating upon the project essentials and noting all the significant points of it Next, is the planning phase for answering the five W’s (what, why, who, when, and where)…
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Risk Management is part of everyday life…

Risk Management is part of everyday life…

Risk Management
Whenever I run a project management course or workshop, I always tell people that “Risk Management” is my favorite topic. Unfortunately, I usually do not have the time to explain this clearly, since risk management is just one in a series of knowledge areas critical to any project. Also, my attachment to risk management is personal, but the courses I teach are professional in nature. So why do I find Risk Management so attractive or interesting? Because 1) risk is nothing more than “uncertainty,” which is what we need to deal with on a daily basis; and 2) risk can be an opportunity (positive) as well as a threat (negative risk.) Therefore, in any given situation, we can temper the negative with the positive and, strive for a balance. To…
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Understanding and Accessing Project Risk

Understanding and Accessing Project Risk

Training
Risk is not the enemy! In most languages, the term “risk” carries a very negative connotation. In fact, clients often tell me, whenever I bring up this topic as it relates to their organization or projects, that the term “risk” makes them anxious and they would rather avoid talking about it. However, “risk” is not the problem. Avoiding discussing risks and addressing them is what can get you in deep trouble. First of all, “risk” is just uncertainty. It can be positive uncertainties (opportunities) or negative ones (threats.) Therefore, know that when you start identifying risks, there will be some nice surprises in there. A positive risk or opportunity might be, for example, getting more work later on from a new client, if you perform well for them in the…
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