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Mike Clayton defines risk as “uncertain events that can affect outcomes,” in his book, Risk Happens!: Managing Risk and Avoiding Failure in Business Projects. Risk management is the most important of your project controls. So what exactly is project risk management? Risk breakdown structures.
I’ve read, I’m guessing, over 150 management books in my career, and you can read my book reviews if you want to trawl through the archives. In this article, I’m saving you some time by highlighting 15 of my recommended books for PDUs, but first, let’s cover off some details about using reading. What books qualify for PDUs?
The Project Management Institute (PMI) is a nonprofit organization for those working in project management across the globe. If you have even a passing interest in the field, then you’ve bumped up against PMI. Given its vast influence, it’s important to have a basic understanding of PMI and its history. A History of PMI.
Why are many project managers confused over risks? Why do some project managers include positive risks in risk management and others do not? Let's clarify what we mean by the term risk. Risk is a Choice Merriam-Webster defines risk as “the possibility of loss or injury: peril.” Peter Bernstein.
You could be the project sponsor for significant high-profile projects with far-reaching impact, political sensitivities or business criticality, and high-risk dependencies across the business. Ensuring that all project management best practices are followed including effective change control and risk management.
I recently had a project manager ask me which of the PMI certifications he should pursue. Certainly, the Project Management Professional (PMP) ® and the Project Risk Management Professional (PMI-RMP) ® certifications supercharged my project management career. And in 2012, I became in PMI-RMP. Thirty percent?
Every project has risks—events or conditions that, if they occur, have positive or negative effects on a project’s objectives. And project managers are risk managers, some better than others. If you want to improve your project success through better risk management, consider getting certified as a Risk Management Professional.
Respondents could select several) Communication was closely followed by: Planning/scheduling (84%) Stakeholder engagement (62%) Team management (53%) Resource management (50%) and more on that below Leadership (49%) Risk management (39%) Governance came in last at only 31%. Learn how in my book, Managing Multiple Projects.
Do you need to earn PDUs to maintain your PMI certification? If you hold a PMP ® , PgMP ® , PfMP ® or PMI-PBA ® certification, you need to earn 60 PDUs every three years. If you hold a PMI-ACP ® , PMI-RMP ® , PMI-SP ® certification, you need to earn 30 PDUs in a three-year cycle. You’re in the right place!
Becoming a PMIRisk Management Professional (PMI-RMP®) can be difficult. How can these individuals earn the required PMI-RMP contact hours? One hour of project risk management instruction equals one contact hour. One hour of project risk management instruction equals one contact hour. What is a Contact Hour?
Note: This article was put together before the PMBOK® Guide – 7 th edition was published so the information in it is drawn from publicly available information about what is going to be in the book. But what if you don’t use PMI methods? The article will be updated in due course. Documents are documents. You can grab the set I use here.
While presenting the project risk management knowledge area from the PMBOK framework, when I indicated that while in our daily conversations risks are usually threats there can be positive risks as well, I was met with some disbelief and skepticism. A positive risk is not something recognized outside of the PM space.
A Guide to the Project Management Body of Knowledge – ( PMBOK® Guide ) 7 th Edition represents a major shift in the way ‘how to do project management’ is presented by PMI. PMI defines a domain like this: The high-level knowledge area that is essential to the practice of project management. Domain I: People. Yes, it’s a lot.
It has been 10 years since the PMI-ACP exam was created, and I published my PMI-ACP Exam Prep book. Since then, the exam has been updated a couple of times based on Role Delineation Studies (RDS) and Job Task Analysis (JTA), which is how PMI surveys practitioners and asks what techniques are commonly used.
PMI defines ethics like this: Ethics is about making the best possible decisions concerning people, resources and the environment. The PMI website says: Ethical choices diminish risk, advance positive results, increase trust, determine long term success and build reputations. What is Ethics in Project Management?
This is all done in an environment of seven themes: business case, organization, quality, plans, risk, change and progress. You won’t find anything in PRINCE2 about people management or the soft skills of project management, although these are covered in other related books. PMI regulates the PMP certification. See on Amazon.
This article, The Project Manager’s Little Book of Cheats [Book Review] , first appeared on Girl's Guide to PM. There’s no such thing as cheating in project management,” writes Beth Spriggs , “but if there were it would be this book.”. I love books that are practical and applicable, and this is both.
PMI defines a Knowledge Area in the PMBOK® Guide – Sixth Edition Glossary like this: An identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques. If you want more detailed guidance, there are plenty of books on the subject.
Tracking and reporting risk information is a standard part of any project management approach. Minimal sufficiency should be the goal we strive to in terms of meeting the informational needs of your stakeholders but more important, helping risk and risk response owners to effectively address identified risks.
The book includes a list of 50 secrets in Appendix D which is a summary of The Standish Group’s Chaos Manifesto 2012: The Year of the Executive Sponsor. If you can spare an hour, go through the PMI Kickoff course. Kickoff from PMI. Understand risk and reward. Risks are things that could happen. And it’s free.
Do you need to earn PDUs to maintain your PMI certification? If you hold a PMP ® , PgMP ® , PfMP ® or PMI-PBA ® certification, you need to earn 60 PDUs every three years. If you hold a PMI-ACP ® , PMI-RMP ® , PMI-SP ® certification, you need to earn 30 PDUs in a three-year cycle. You’re in the right place!
Successful CEOs Ram Charan and Larry Bossidy define execution in their book Executive: The Discipline of Getting Things Done : “Execution is a specific set of behaviors and techniques that companies need to master in order to have a competitive advantage. You should have developed a risk management plan during the planning phase.
To understand why, let’s draw a parallel to project risk management. Teams might do a reasonable job at identifying risks, assessing them and coming up with risk response recommendations for the higher priority ones. Unfortunately, often times those risk responses never get implemented.
LeRoy Ward, PMP , PgMP, and PMI Eric Jenett Project Management Excellence Award winner, when I asked him for his view. Linda Kretz Zaval and Terri Wagner also talk about the practicalities of managing to fixed dates in their book, Project Manager Street Smarts: A Real World Guide to PMP Skills. . Crash the project.
Perhaps these individuals are influencing you through a blog, online videos, online courses, or books. In addition to her books, Susanne provides great articles on her website. His perspective on project and risk management is balanced and practical. Grab a cup of coffee as I share seven influencers that I follow. Kiron Bondale.
Project management standards such as the PMBOK® Guide, Sixth Edition state that contingency reserves, which are established to offset the cost or schedule impacts of realized identified risks, are considered part of the project budget and cost baseline. This matches my own experience from the previous two companies I worked for.
They’re also tasked with understanding their client’s business and even directing some aspects of their project, such as helping the project manager create a strategy, assess risk and more. It’s the old debate between book smarts and street smarts. What Is Project Management Consulting?
That’s it in a nutshell, but that Expert Guide has more detail and my book, Collaboration Tools for Project Managers, covers this in depth. Helen replied to this one saying: I use Sharepoint PRIME which allows collaboration and enables me to see the traditional PM tools e.g. Gantt Chart, Risk Log etc. Where can I buy your book?
Below are some options for finding time to fit training into your working week, including how to collect those Professional Development Units project managers need to maintain your PMI credentials. Reading books. Book some meetings with yourself to work through online project management training. Conferences and seminars.
You might want to take this even further and document exactly how you are going to estimate how much time resources will be required for, how you are going to ‘win’ scarce resources, and what risks you might face around securing the resources. Book the resources you need for your project. What are the Types of Resource?
I’ve often referenced Dr. David Hillson’s definition of risk as “ uncertainty that matters ” in my articles about project risk management. If stakeholders don’t feel that the information presented to them about a risk matters to them, they will ignore it.
However, there is the risk that the team might miss key scope elements for specific deliverables as they won’t be focusing on decomposing a single deliverable at a time. If you liked this article, why not read my book Easy in Theory, Difficult in Practice which contains 100 other lessons on project leadership?
It covers cost control, work breakdown structures, schedule risk analysis, cost risk analysis: these are weighty topics. For example, HealthCare.gov, Virginia Festival of the Book, Lumi Juice. Finally, there is nothing in the course about soft skills (the ones PMI calls Power Skills). It’s cost-effective.
A Guide to the Project Management Body of Knowledge – ( PMBOK® Guide ) Seventh Edition represents a major shift in the way ‘how to do project management’ is presented by PMI. PMI defines a domain like this in the exam content outline: The high-level knowledge area that is essential to the practice of project management.
To begin, let’s look at the five project management process groups defined in the Project Management Book of Knowledge (PMBOK), published by the Project Management Institute (PMI), the leading industry trade group. You create a project schedule, designed to manage time, cost, quality, changes, risk and any project-related issues.
In a presentation I gave to the members of a PMI Chapter on the topic of psychological safety, one of the attendees asked a great question. And when it comes to taking risks, provide the team with a clear understanding of their organization’s risk appetite and help them to define the limits for different types of risks.
Reimagine the must-have project management skills,” says Brantlee Underhill, Managing Director, North America, Project Management Institute (PMI). Read Anthony Mersino’s excellent book: Emotional Intelligence for Project Managers. Project management isn’t just about managing spreadsheets and timelines. What you can do. Be curious.
There are many women globally leading initiatives to shine a spotlight on women, including one of the largest initiatives launched on Twitter in 2017 by Dr Kirstin Ferguson called #CelebratingWomen , which resulted in a book in 2018 called Woman Kind. Related: Advice for Women in Project Management.
This needs a clear view of the strategic fit of each potential project, and a selection of which projects the organization takes on, that is driven by priorities, risk balancing, resource availability, and many other factors. Any processing of the data risks selecting which data to emphasize, and introducing a bias in the way it is presented.
I regularly speak at PMI Chapter meetings and project management symposiums (which earns me PMI Professional Development Units). I often run the day before I speak at a PMI Chapter or symposium. And here is a book tip: read “ How to Deliver a Ted Talk.”. appeared first on Project Risk Coach. Board meetings.
Step 3: Finalize procurements 'Finalize procurements' is PMI terminology for the project closure phase (you'll never hear anyone say it in real life) but it simply means making sure all the bills are paid. Book a celebration for the team! Then you can learn from my mistakes and make sure you can move on from your projects.
The feedback inspired me to post a poll on PMI’s LinkedIn Project, Program and Portfolio Management discussion group soliciting feedback on which of the common schedule compression techniques were most frequently used. It’s available on Amazon.com and on Amazon.ca as well as a number of other online book stores).
The big risk as a project manager is that you hit all the project management success criteria: being on time and on budget, but what you deliver doesn’t meet the customer’s requirements. Add any new risks to your risk log, update the stakeholder register and so on. A project quality management plan can help with that.
In addition, decisions in strategic projects entail a higher degree of business risk than with the traditional projects. The enterprise environmental factors in a project can have a serious impact on VUCA analysis and subsequent risk management. VUCA activities add significant risks to all of these relationships.
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