Friday, 03 June 2016


Identifying, anticipating and evaluating risks in a project in all its future stages, planning, and putting in place an effective response mechanism, to minimize, or avoid the impact of such risks is called Project Risk Management.  PMP boot camp classes give a complete run down on Project Risk Management through a series of short, high impact sessions including case studies and cardinal rules of risk management, some of which are given below:


Inclusion of risk management from project inception

Risks in a project cannot be managed if plans for management of such risks are not on the drawing board of a project.

Identification of risks
Identifying risks does not require an actuary. Inputs from sessions with team members should be encouraged, and information generated from reports should be scrutinized to analyze and identify recorded risks of the past and possible risks of the future.

Being receptive to inputs
Keeping channels of communication open is necessary to receive inputs on unexpected developments.

Risks can also be opportunities
A risk is an unexpected event. Sometimes, the risks are outcomes of a particular sequence of events or circumstances that can be predicted. And sometimes, taking a risk can bring positive and beneficial results. It is essential to weigh the risks in a manner that includes looking at probable positive outcomes.

Tagging risks with response mechanisms
Risks and the response mechanisms need to be tagged together. The department or manager responsible to tackle a particular issue needs to be identified and delegated.

Grading risks
Risks have to be objectively assessed and graded as per priority. Likewise, response has to be initiated as per priority too.

Risk analysis
Analyzing the nature of risks, the sequence of events preceding it and the expected outcomes helps to plan a proper response to the risk, at various stages of the risk manifestation.

Implementing risk response
The final objective of risk management is to avoid or minimize a risk by accepting it. By evaluating and planning responses, the risk is to be either avoided, or the effects of the risk are to be minimized. Sometimes, unfortunately a bad project may have to be shelved on the basis of risks that develop en route. Implementing the risk response is hence the single most important aspect of Project Risk Management.

Logging project risks
Logs have to be maintained and they should list, tag, analyze and provide a response to all known and potential risks.   and it should etc.long with a periodical review . Tshould accordinglyTeam leaders and members should periodically review these logs to assess progress and make project course corrections as necessary.

Tracking risks
Tracking the risks as they develop or manifest helps to be aware of any situation and initiate an appropriate response.

Effective Project Risk Management will ensure the success of a project through economical use of resources and onsite PMP boot camp classes are the best way to equip key personnel with effective project management skills. The onsite knowledge transfer ensures that the key concepts of project management help complete the project within the time frame, set budget and meets all mission objectives.

EduMind Management at 08:20

          


Friday, 20 May 2016


While beating the conundrum of Project Management Triangle remains one of the way points to succeed as a Project Manager, PMP credentials are the pearls of any resume, outshining academics and achievements. The PMP Exam Training Online module is the final and best shot to achieve PMP Certification. The top five industry sectors where project management has made and will continue to make a huge impact are:

Energy Sector

The burgeoning population will drive the demand for energy to mind boggling levels. Global investments over the next 25 years are expected to touch a staggering 20 trillion USD.  The pursuit of economical energy and lower carbon fuels will mean more mega projects tapping into unexploited reserves. Despite advances in alternate sources of energy, oil and natural gas will account for 60% of global energy consumption.

A whopping 55% of ongoing projects were found to have experienced overruns in cost and schedule. A properly managed project aligned with the company's objectives would have stayed out of the 55% circle. The slump in oil prices not with standing, the resilient energy sector will see countless projects to power the globe and project managers will hold the key to successful implementation of all projects.

Aviation 

The five functions of management, according to Henry Fayol, appear tailor made to the aviation sector. Phenomenal growth is expected during the next 20 years, with addition of routes, flights and destinations to cover the increase in demand projected to touch the 7 billion people of the world. China, the U.S, India, Indonesia & Brazil will be the five fastest increasing markets during this two decade period. Project managers will be in demand in this industry that needs to run within the dimensions of time to stay relevant.

Healthcare

Projected to grow at around 5%, the healthcare industry will grow exponentially due to a global aging population, increased spending as a result of economic growth and better penetration of health insurance.  With the pharmerging markets commandeering the projections pie chart, a very large number of new projects will be setup during this period by pharma majors, with reliance on project managers to man the cogs of project execution.

Construction

Robust growth is predicted as the construction sector bucks the trend and bounces back.  A large number of project managers will be required to steer numerous projects without overruns in cost or time or compromising the quality and the objectives of the project.

Information Technology

IT was clearly the odd man among industries hit by the slowdown, progressing at the same frantic pace of development. The trend is expected to continue, driven by the growing needs in all sectors that are dependent on IT for applications and processes. Dynamic project managers will also be expected to manage a diverse workforce and align them with the objectives of companies.

Shortcuts to success, cuts short success

Project management has evolved from the simple Gantt Charts and the 14 principles of management to the present highly tuned system that has factored in all the metrics and parameters. The very act of a project manager seeking credentials is proof of commitment; sprint ahead in today's competitive world with the PMP.


EduMind Management at 00:55

          


Tuesday, 17 May 2016


What is NGO?

“NGO”or non-governmental organization refers to many groups that do not operate under government with business objectives. NGO’s operate on humanitarian or cooperative grounds. 

All operational NGOs must systematize their resources to buy material, labor charges etc. to ensure that their projects and programs are actively progressing. Finances received from the government in the form of contracts, foundations and companies require expertise in planning as well as balancing the finances and expenses.  In order to manage the different verticals of planning, preparation, budgeting, accounting much more demand is placed upon the shoulders of project management professionals. 

Make it Possible in NGO Sectors through PMP Certification Training

As one may not see the needs of NGOs that deal with the refugee problem, human rights, and life necessities in handling resources and funds efficiently. A Project Management Professional  can streamline the overall project and programs of an NGO An existing project manager should consider getting trained and obtain the coveted PMP Certification in order to effectively maintain and run all NGO’s programs. 

NGOs provide a wide range of opportunities to project managers wherein they are required to manage resources.  A project manager that is an expert in all of an NGO’s divisions and branches will play an important role in the success of all of its projects.

With minimal budgets and growing demands from contributor and stakeholders, organizations need to implement the latest tools in project management in order to  achieve superior results. Due to the growing demand for project management professionals in NGO, certified companies are providing Project Management Program (PMP) training to prepare individuals as project managers to work specifically in NGOs. Besides this, individuals are trained to have domain expertise knowledge on various issues that NGOs encounter. This successful approach enables the individuals to acquire the skills required to develop projects, huge and small, and manage the projects globally. 

Every project needs logical evaluation to outline the big project from beginning till the end. Measuring the value of the project, pre-implementation, testing and executing the plan are the various steps involved in the evaluation process. Project managers with PMP training possess a distinctive skill set to manage all the processes and systems proficiently. 

PMP Skills Utilization in ROI

The critical project management skills obtained through PMP training ensures that every penny donated by the donors is used to acquire maximum value through Return-on-Investment to the NGO. Many NGOs receive funds from external sources; generating these funds in an appropriate way to increase the returns by investing is possible through Project Management Professionals.

Benefits to PMPs through PMP Certification Training

PMP Training Programs are designed to provide competitive skill set and knowledge to individuals instilling the ability to handle all kinds of issues related to NGO projects and programs. Additionally, individuals can gain effectiveness to plan and execute the program. Improve performance after the completion of every project. NGOs can also view the overall improvement in their organization, better plans for fund-raising and great return-on-investment on attending the PMP certification training.


EduMind Management at 03:39

          


Friday, 29 April 2016


Project Management Professional certification (PMP) provided by PMI is your key to a globally recognized professional career with growth unbound. The certification can be easily achieved by preparing for the exam by enrolling for PMP boot camp courses or PMP prep course training. 

PMP boot camps are short-term rapid revision/training classes that help project managers and students gain a quick grip on the exam syllabus. PMP boot camp courses are usually conducted when the exam dates are approaching. This is the right time when revision under a learnt tutor is necessary. The benefits of PMP boot camp courses are plenty, some of which we are going to discuss in this article. 

Training provided by highly qualified tutors
PMP boot camp training courses are handled by experienced tutors with high academic credentials. All of them happen to be PMP qualified project managers who have real life experience in project management. Their insights in the field does come to aid in improvising the learnability of aspirants. The tutors are also easily reachable through email and other online mediums, making it easy for you to clarify your doubts from a place convenient to you.

Effective revision within a short span of time
PMP boot camp courses are conducted in a span of four days or two to four weeks.  You will receive a quick teaching session that covers important topics expected in the exam. Topics of high importance will be discussed in detail to strengthen the understanding of the student. PMP boot camp courses also help students prepare through an online program that benefit the merits of a short term classroom training easily. 

Cost-effective and practical way of learning
PMP boot camp courses cost around one fourth of a full-fledged PMP training program. It cost varies from one fourth to half the price of a full course depending on the period of class you are going to enroll. Either ways, Boot camps are cost-effective and offer students value for money. The quality of the course is not compromised and is handled by qualified project managers who are subject matter experts as well as recognized education providers. Additionally, if you are a PMI member, the cost of PMP boot camp courses and study material could be far less than what others usually pay. 

Aids continued professional education for project managers
Not every project manager will have the convenience of attending full scale PMP training program. PMP boot camp courses give them the opportunity to further their professional training without having to spend lengthy amounts time, usually in months for attaining the certification. PMP boot camp training serves the same purpose but in a shorter span of time, which is what a working professional requires. 

Online PMP boot camp courses
Online training ensures that you are able to continue your learning from a place convenient to you. Online courses provide the ambiance of an actual training program and are beneficial to those who’ve attended classroom based training but feel the need for extra input from a different source. 

Conclusion
PMP boot camp courses help students strengthen their learning in a short span of time. They provide effective learning with the help of a highly qualified tutor with experience in project management.

EduMind Management at 00:14

          


Wednesday, 20 April 2016


In today’s rapid ever-changing world, businesses want more for less and fast. Projects are expected to be turned around in the shortest time, within the leanest budget, demanding the best of practices possible while maintaining the highest industry standards. To meet these seemingly implausible expectations, the right balance of planning, monitoring, evaluating and controlling can make all the difference in project management. It enables bringing projects to completion on-time, on-budget and on-quality. Project objectives can be achieved by aptly leveraging certain project management processes, guidelines and techniques effectually.

By implementing the following best practices of project management, it could phenomenally help you reach your project objectives:



Plan the Project Work Plan
The idea of immediately beginning work on the project and jumping right into it, needs to be set aside. Create a project work plan that constructs project deliverables and manages the project. The time invested in planning the project will pay off with end results of reduced costs, quick turnaround time, right resources assigned, reduced leeway for errors and improved quality of the project’s life. Once the work plan is approved, it becomes the foundation from which to build upon and grow. If you are not confident of how to manage a project plan, completing the PMP test will give you the push in the right direction. By completing the PMP test you get the opportunity to brush upon the fundamentals of project management. 

Monitor the Work Plan’s Agenda and Budget
Now that the work plan is in place, execution of project work can commence. However, periodically and regularly, keep a tab on the Agenda created by the work plan and ensure the project timelines are not deviating from the set path. Constantly keep a check on the budget and update the statuses or raise flags if required. While challenges might come your way, proactively work towards completing the project within the original effort, cost, and duration. Cost and Time are crucial factors at any level of project management and these two important knowledge areas are covered in the PMP boot camp training class.

Evaluate Scope-change Management Procedures
Over and beyond the effectual management of the project’s agenda and budget, managing scope is another very important factor to look into. Effectively try to establish stringent scope-change management procedures in place. If you are unsure about how to go about it, a quick 4-day boot camp at a PMP class will greatly help you. Scope creep (a series of small scope changes) apparently is one of the top reasons that result in project failures resulting in projects to be not delivered on-time and on-budget. Ensure to focus and track scope creep. 

Control Risks and Resolve Issues
By identifying the risks up front, it will help in quickly mitigating the impact the risk might have on the project without creating any further problems. The possible risks and its associated impacts needs to be gauged. The high-risk events that have been identified should have strong backup plans in place to ensure they do not occur. Along with the risk management and assessment process, ensure that on a constant basis the varied issues that rise up are immediately being given attention and resolved in a timely fashion. One must be equipped with good knowledge of risk management to handle such a situation. It would help to attend a 4-day classroom PMP boot camp training course, to quickly garner knowledge on one of the key PMP knowledge areas – Risk Procurement. 

Therefore, by diligently planning, monitoring, evaluating and controlling at varied levels of the project, you are well on your way to deliver quality on-time and on-budget!


EduMind Management at 00:58

          


Monday, 29 February 2016


As a project manager, if you want to take your career development to the next level, there’s only one way to do so - acquire the PMP certification. The PMP Exam is the only barrier that stands between you and your dreams of stepping out of your current corporate doorstep. PMI recently announced that the PMP exam has been revamped, with changes in effect from January 11, 2016. With several aspirants lining up to take the PMP exam, the fact that the PMP exam has been changed has raised a lot of questions amongst PMP aspirants.

If you’re concerned about what the new changes could mean for you, here’s an overview of what the new PMP exam is all about. Read on:

PMP Exam
Why the sudden change is necessary?
The PMP exam is an accurate reflection of the tasks carried out by project managers on a daily basis. Practices change over time and so does a project manager’s role. In order to keep pace with the changes, the PMI conducts a Role Delineation Study (RDS) every few years. If PMI didn’t regularly change the PMP Exam, PMP aspirants would still be tested on techniques that have long become obsolete and irrelevant.

What stays the same?
1. The eligibility criteria for taking the PMP exam remains unaltered

2. The new PMP exam remains a Computer-based test with 200 multiple choice questions to be answered

3. The reference book – PMBOK Guide fifth edition – remains the same.

4. The five domains – Initiating, Planning, Executing, Monitoring & Controlling and Closing will be the same

5. The PMP Exam structure score report isn’t changing either

What has changed?
All the PMP aspirants who’ve been frantically looking for answers to this question can breathe a sigh of relief. The changes are minimal! So all the PMP exam prep courses you’ve attended and hours of PMP training you’ve acquired wasn’t for nothing.

Change 1:
Though the domains remain the same, the allocation of questions has slightly been altered. Specifically, percentage of questions in the Executing section has been raised to 31% while those in the Closing section have been brought down to 7%.

Change 2:
The new PMP Exam Outline includes modification of a few tasks and removal of a few. The most notable changes made are the addition of 8 new tasks, raising the number from 34 to 42.

Domain NameTask Number
Initiating3
Planning1
Executing 2
Monitoring & Controlling 2
ClosingNothing

The key changes made in the PMP exam based upon the new tasks include:
1. Emphasis on Business Strategy and Business realization

2. Project Charter Responsibility

3. Values of Lessons Learned

4. Enhancing Stakeholder relationships

Change 3:
Nearly 25% of the new PMP exam content is focused on the topic areas covered under the eight new tasks. This means that a sizeable number of questions will be based on entirely new areas.

Change 4:
Even though principles behind a majority of the tasks remain the same, some of the language and the terminology used have been altered.

What’s the best exam prep approach?
1. First, stay calm. The changes are minimal and there’s no need to push the panic button.

2. Read PMI’s updated Content Outline thoroughly

3. The reference book remains the same, but you’ll need to ensure that all your exam preparation material reflect what’s required for the new PMP exam.

4. We have updated our study materials to fit the current PMP exam model. This means that if you’re enrolling into a PMP exam prep course with us, you don’t have to worry about the new changes at all!

5. If you’ve already undergone PMP training and are looking for ways to update yourself on the new topics, consider enrolling yourself for a PMP boot camp.

6. Take the practice tests that have been updated with new questions.

Remember, you already have years of extensive knowledge and work experience.  Add a few study hours and PMP training to the mix, and that’s it, you’re all set to take on the new PMP exam!


EduMind Management at 00:29

          


Wednesday, 27 January 2016


PMI’s infamous PMP certification is every project manager’s dream come true. The credential holds immense value in the eyes of potential employers and opens up promising opportunities. If you wish to acquire the PMP certification, making your way past the PMP Exam Prep Course is the toughest challenge. First time test takers may be apprehensive about what to expect in the exam. Even professionals with years of experience in the project management field do not fully understand what it takes to pass the PMP exam. This has given rise to a number of misgivings about the PMP test. 

We bring you the top 5 myths surrounding the exam and bust them, so you can bid adieu to your PMP exam woes forever.

Myth 1: You need to score over 61% to pass the exam

No, this is not true. While this was true at one point in time, nowadays, passing the PMP exam is no longer about the percentage of questions with correct answers. The PMP test format follows a psychometric analysis. This means that the questions which are tough contribute to a larger part of the total score than the easy questions. Answering a few hard questions correctly will get you a higher score percentage than answering several easy questions correctly. Therefore, the number of questions you answer does NOT determine whether you’ve passed or failed the exam.

Myth 2: Only PMI Registered Education Providers must provide PMP exam prep courses

This statement is not valid since there is no specific authorized course to prep for the PMP exam. Anyone from a REP to PMI component organizations to distance learning consultants can provide PMP exam prep courses. However, in order to ensure that the quality of training obtained is standardized, it is highly recommended that PMP training is availed from a REP. EduMind is a PMI REP and availing its courses gives you the highest assurance of quality and standardization.

Myth 3: The audit process uses applicant profiling

Absolutely not! This is one of the most widely circulated myths about the PMP exam. While it is widely stated that the auditing is based on applicant profiling, the claims are absolutely false. The audit process is completely random. If you think that your application will not be called for an audit, then think again. When completing the PMP application process, bear in mind the chances of you being called for an audit. It is better to be safe, than sorry and prepare well in advance.

Myth 4: Memorizing Inputs, Tools & Techniques, and Outputs ( ITTO’s) 

There are around 500 ITTO’s described in the PMBOK guide and memorizing all of them is a huge waste of energy and time. Instead, focus your efforts into understanding the concepts behind them. Questions that are commonly asked during the PMP exam revolve around how or why a specific ITTO is used and does not require memorization.

Myth 5:  35 PDU’s are required to take the PMP exam

No. What you actually need are 35 contact hours in order to be eligible for the PMP exam. The PDU’s i.e. Professional Developmental Units are required after you’ve obtained your PMP certification. PMI requires that one must earn at least 60 PDU’s every three years to maintain the PMP credential. However, first time test-takers need not worry about PDU’s. If you do not have 35 contact hours, then acquire them first before making an application. Participate in any of EduMind’s PMP exam prep courses and you will gain the much-needed 35 PMI approved contact hours.

There are countless myths surrounding the PMP exam in addition to the ones we’ve listed above. Do not let it get in the way of your PMP exam prep. When in doubt contact PMI customer care service or talk to your PMP exam prep course instructor to debunk any unsettling myths you come across.

EduMind Management at 07:40

          


Sunday, 27 December 2015


A PMP boot camp will increase your chances of passing the PMP test significantly. It will impart, in-depth understanding of difficult concepts and topics. Learn, interact and master the subjects under the guidance of experienced tutors. 

The prime motive of boot camps is to accelerate the study process of a student. They help students grasp important course subjects without any interruptions or distractions. Attending a PMP boot camp will enhance the quality of your study time. It will also result in efficient knowledge gain. Aspiring learners will not be bothered by incessant calls, notifications and the urge to take an unnecessary break. 

A PMP test boot camp will typically span from three to five days. It will provide attendees with all of the prerequisite information that a student will be subjected to on the test. A well-chosen boot camp will help you address the following issues:

A rigid time schedule that eliminates every possible distraction that might hamper your learning. 

Understanding the latest exam model and question pattern with optimized preparations.
Cost and study materials

A typical PMP boot camp session can cost hundreds of dollars or more. Certain employers will reimburse and/or pay the cost outright of PMP Boot Camp classes for their employees. The fee amount will have to be remitted in advance before the class commences. For employees, the advance payment is asked for, to ensure that the employee is dedicated to complete the PMP application with passing grades. 

The study materials for the PMP test preparation must include the PMBOK® Guide. The course provider might also provide supplementary study materials to further enhance the knowledge of the student. Most often, study materials will be provided well in advance before the class commences so that students can get acquainted with the material. 

Pass rates

Most PMP application course providers claim a high pass rate for their institutions. It falls to the student to verify that the pass rates claimed by course providers are accurate. Some providers back their claims with a money-back guarantee which further strengthens the confidence of the student. It is recommended that the student read the fine print of the course before paying the fees and making a long team commitment to passing the exam.  

The following questions will help identify if a PMP test provider is worth joining or not:

Does the provider hold a valid registration with the PMI? A registered provider is more credible than a provider not registered with the PMI. 

Is the PMBOK® Guide used as an integral part of the course material?

Does the provider render assurance that the PMP boot camp will be organized even if the minimum requirement is not met?

Complete details about lecturers, their experience in project management, class timings, etc.

Will the PMP test preparation be conducted in physical classrooms or take place in an online classroom setting?

How many practice questions, mock tests and previous questions will be discussed /solved during the boot camp?

An aspiring student can attend any number of PMP boot camps to clear the PMP test these days. Online classrooms provide an excellent learning experience and have a success rate in aiding the learner in passing the PMP test.  A prospective learner should review, analyze and think critically before applying for a PMP application course.  After all, it is their own future that they are trying to make brighter.


EduMind Management at 23:13

          


Wednesday, 11 June 2014


"Almost 88% of professionals across 34 countries would like to work for companies that are committed to strong ethical values, according to a survey conducted by Kelly Services."
"Project Management Code of Ethics and Professional Conduct are discussed in chapter 1 of Project Management Body of Knowledge (PMBOK®) Guidelines 5th Edition."
Why do you think professionals prefer ethical companies?  What is the point in following ethical values in an organization when you are already committed towards the organization’s goal? Well, the answer is not so complex. With no ethical values and morals followed, no organization can flourish in spite of having great objectives and well-planned project structure.

You will come to understand the truth behind the necessity of adhering to the ethical codes when you look at history. It shows that companies that have a code of ethics have outperformed the average companies that had no such ethical codes.

Code of ethics in an organization will lay the basic foundation for the organization to establish itself further in a strong way. It really helps the organization to think sound and execute things well. As you find different people in an organization, it is really tough to handle all of them without a common code of ethics.

Project Managers sometimes tend to act unethical with or without knowing the consequences. Let us discuss a few uncommon situations below.

Bid Rigging is one of the most important issues that give a strong blow to the economy of the company. It is an act of revealing important and confidential information to others without the knowledge of the company.

Another usual ethical issue that happens in most of the companies is ‘’Low Balling’’. This is quoting a lower price on a project but knowing that it actually consumes a higher amount. After receiving the contract approval, you tend to re-negotiate or cut corners of the project plan in order to compete the project within the lower budget. Low Balling is not a sign of a good project manager.

Another very important yet became-normal ethical issue is bribery. This is the unhealthiest issue that stands as a root cause for violating ethical rules and codes.

Without a best material usage and marketing strategy, a company cannot survive in the competitive business market. Still, some Project Managers tend to use substandard materials for the purpose of cost-cutting.

One more ethical issue that is becoming very general is failure to admit the project failure. This unfair attitude of Project Managers approving a project knowing that it has some flaws will be realized some years later down the line.

Understanding the chances of such ethical issues, the Project Management Institute (PMI®) has set a code of ethics to refine the thoughts of such issues by Project Managers. These ethical values are discussed in a separate chapter as part of Project Management Professional (PMP®) Training. One who is trying his/her hand out in PMP® Certification Exam would have to concentrate  on the Code of Ethics chapter because  may be tricky most of the times.

Of the four ethical values, Responsibility is the first and foremost one. Project Managers should learn to take responsibility of the actions. The second one is, Respect. Managers should respect all the higher officials, subordinates, clients, customers and treat everyone with respect. Here, Project Managers should act like a wise leader. The third ethical code is Fairness, which is being impartial towards all the employees irrespective of their status and position. The last but not the least code is Honesty. This means, Project Managers have to be transparent in all the dealings, they should be explaining all the pros and cons of the project to the stakeholders or customers. All these ethical values together shape a Project Manager into someone we can trust.

Responsibility, Respect, Fairness and Honesty – compose a beautiful project with all these tunes put together.

Training the professionals with such a code of ethics will help them to analyze what is right and what is wrong; what should be done and what not should be done; difference between good and bad; and so forth. Finally, it helps Project Managers to handle the projects ethically. This helps to bring out good project outcomes, better Project Managers and the best organizations.

Want to handle projects with ethical values, yet you don’t know what are they? Fret no more! School of PM is one of the leading institutes that help professionals to understand ethical values. We train them in our PMP Exam Prep and PMP Boot Camp, both onsite and online!

Sopm Columbus at 07:48

          


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