The Risk Management Approach in PRINCE2
Risk is defined as an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives. Simply put, it is the possibility of losing something of value. Projects have objectives, that is, a product or service that it needs to be produced, or....
Guide to Stakeholder Management
All projects have stakeholders. As a minimum, the project sponsor who initiated the project expects some type of deliverable. In addition, customers and end users are anxiously awaiting the completion of the product, and the project team is eager to use their skills to produce it. Hence, project success is....
12 Project Stakeholders (And What They Want)
All projects have stakeholders. As a minimum, the project sponsor who initiated the project is a stakeholder who expects a deliverable from the project. At first glance, the project's stakeholders might be obvious, for example a government approval, or an adjacent landowner that is affected by a construction project. But....
Guide to Project Document Control
Document control, in project management, is a function that involves the tracking of project documents to ensure confidence in their use. Projects of all sizes use document control to track the important technical documents that the project depends on the accomplish its objectives. Although we focus more on the project's....
The Parts of a Stakeholder Register
In project management, a stakeholder register is a document that lists a project's stakeholders as well as information about their involvement in the project. In the Project Management Body of Knowledge (PMBOK), a stakeholder register is an output of the Identify Stakeholders process within the Project Stakeholder Management knowledge area.....
10 Roles and Responsibilities of a PMO
There is much confusion over what roles a project management office (PMO) plays, and indeed the term is quite broad. But PMO's have undergone significant development in recent years and their roles have become more standardized. So whether you're considering establishing a new PMO or wondering what roles your existing....
4 Types of Project Offices
In most organizations, if nobody is responsible for maintaining project management practices they will fade away and become just another fad. For this reason, we have seen the rise of the project office. Project offices come in a variety of forms, but can be loosely broken into the categories of....
What is Resource Leveling?
Resource leveling is the smoothening of resource usage to increase project efficiency. It is performed to realize a trade off between project duration and project cost. Traditional project scheduling techniques do not take resource usage into account, and often produce erratic resource usage that drives up the project budget. For....
11 Types of Estimates
Almost every project requires an estimate. Since a project is, by definition, temporary, somebody must approve a budget for it. Which means they must know how much to approve. The available types of estimates can be categorized into the following groups: Accuracy Source of Data Estimating techniques Accuracy In many....
PMP vs PRINCE2 vs IPMA: The Three Main Certifications
Project management certification is a great way to make your career take off. Promotions, salary increases, and prestige are just some of the rewards waiting at the end of the journey, but not all certifications are equivalent. Hence, it's important to have a flight plan prior to spending many hours....