Project management is most frequently associated with the topics of cost, quality, and time. Yet, those three legs of project management are all directly impacted by risk. Risk management is crucial in all projects; whether an opportunity or threat, all risks should be identified and planned to increase the possibility of a successful outcome for […]
There are not many “sure things” in the world, but the fact that professional project managers have lost countless hours of sleep worrying about what could go wrong is one of them. Risk management is a robust skillset within project management, such that extensive knowledge of it is needed for the Project Management Institute (PMI)
Risk is part of any project, of any size, in any industry. The size of risk, and whether it will have a positive or negative impact on the project’s outcome will vary. But there is always risk in any project. Risk Management plans, which include Risk Assessment and Risk Audit activities, are critical tools for
Project Managers use a combination of experience, insight, and quantifiable data to assess potential project risks. In project management, determining the probability of occurrence is one factor in the overall risk assessment and planning work. For the Project Management Institute’s (PMI) Project Management Professional (PMP)® certification exam, and as part of continuous skill development, it
Earning your Project Management Professional (PMP)® certification is a significant achievement. This credential can help accelerate your career, increase your earning power, and demonstrate your qualifications to employers, clients, and peers. The Project Management Institute (PMI) has a 3-year cycle for their certification renewal process, which requires all certification holders, including PMP, to acquire and
One of the most powerful advantages of being a Project Manager is its a skill set not confined to any industry or business type. Project Management Institute (PMI) research indicates project management-oriented careers in seven sectors are expected to grow by 33%, or nearly 22 million jobs, through 2027. In the next seven years, that
While planning a project, you may discover some tasks or products can either be accomplished in-house or by a vendor. Make or Buy Analysis is a PMP exam technique that will help you decide which option is better. On this page: Make or Buy Analysis PMP Definition Factors to Consider for Make or Buy Decision
Those looking to expand their project management career often ask for advice about which certification to pursue: Waterfall or Agile? Given the prevalence of the Project Management Professional (PMP)® certification for those using traditional (or “waterfall”) project management methodologies, some refer to any project certification as “PMP.” But in fact, there are separate certifications for
One of the essential duties of a project manager is to determine whether a project is worth investing in and ensure its success from beginning to end. For example, one helpful metric of project value is the payback period; that is, how long will it take to recover your initial investment in the project? Let’s
Earning the Project Management Institute’s (PMI) globally recognized Project Management Professional (PMP)® certification begins long before you find out your PMP exam score. In fact, you must have an approved application before you can even look at dates to schedule and take the PMP Certification exam. To earn the coveted PMP certification status, it is
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