Multi dimensional risk analysis for PMP

Here is a multi dimensional risk analysis for the PMP credential from the industry, trainer, PMP aspirant perspectives with an intent to communicate an independent and unbiased view.  Industry related risks  The risk - There is a wide spread rumor about PMP credential as a product, which has reached the end-of-life stage in the product …

AACEI’s TCM vs PMI’s PMBOK

One of the things that drew me to WRENCH was its insistence on standardization. As someone who has long been immersed in PMI and AACE (the top two industry-wide standards of our time), I was delighted to meet someone who shared my view, namely, that standardization is perhaps the most overlooked yet most critical success …

PMBOK Definitions #2

Stakeholder analysis to identify key performance indicators of project success

Step#1 Identify the stakeholders of the project / product  (sample list below) Sponsors Portfolio managers Program managers Project managers Owners Engineering mangers / teams Design teams Sub contractors Procurement team Quality team Risk management team Change management team Safety management team Cost controllers Finance Sales & Marketing Project management office Competitors Consultants End users Government …

Evolution of ‘project success criteria’

During one of my training programs, a project manager said ' I am not getting acceptance for my project. What should I do get the acceptance?'. That was a difficult question to answer, considering the fact that I did not know much about his project. Still I wanted to give it a try, and I …

7 steps to define good project requirements?

Identify the project's stakeholders Classify them into groups of; High power - high interest High power - low interest Low power - low interest Low power - high interest Collect the detailed requirements from the relevant stakeholders through; Interviews Questionnaires Brainstorming Requirements development workshops Benchmark with similar projects / products Analyze the requirements Define requirements …

Architectural comparison of TCM and PMBOK

Architecture refers 'carefully designed structure of something', and here it is about the Total Cost Management (TCM) framework. As the name suggests, the focus of TCM framework is cost management of projects and the deliverable of projects (assets). There lies the fundamental difference between the Project Management Body of Knowledge (PMBOK) by PMI, USA and …

How to define project goals – 10 questions one should answer

Whether it is about starting a new blog or building a new airport, before starting the project one has to get convinced about the business case and the viability of the project. Projects fail at the beginning, not at the end. Filtering out the best before investment is the key to avoid failures. Before starting …

At XIME – Xavier’s institute of management and entrepreneurship

The project management certification guide – 2019

It is cut throat competition out there in the certification arena. Every certification body wants to get a pie of the project management certification market. There are the established certification bodies which faces stiff competition from the new comers.   It is a red-ocean out there. The leaders of predictive project management want a share …