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Know Everything About PRINCE2® Processes, Process Model & Stage Gates

PRINCE2® is considered the abbreviation of Projects IN Controlled Environments and it is a structured project management process as well as the practitioner certification programme. It lays stress on dividing projects into controllable and manageable stages. There are many countries from all across the globe that adopt PRINCE2® and those countries include Western European countries, the UK, and Australia. The training of PRINCE2® is obtainable in various languages and it was developed in the form of a United Kingdom government standard intended for information systems projects. In the year 2013, the ownership of rights was transferred from HM Cabinet Office to AXELOS Ltd. which is considered a joint venture by Capita and the Cabinet Office to PRINCE2® with 49 percent and 51 percent stakes respectively.PRINCE2® MethodologyPRINCE2® methodology segregates the whole projects into various stages and every stage is managed in a separate manner. With  PRINCE2® methodology, 7 processes are involved:1. Starting up a ProjectThe primary process includes activities that are necessary to make sure that it is a worthwhile and viable project. The activities involved in this process are the following ones:Appointment of the project and executive managerAppoint and design the project management teamCapture previous lessonsPrepare an outline business caseChoose the project approach and accumulate the project briefPlan the initiation stage2. Directing a ProjectThis process includes the project board. In this process, authorization is given to manage a project, to proceed continuously, and provide ad hoc direction when needed. The activities of directing a Project process include the following:Authorize initiationAuthorize the projectAuthorize stage or an execution planProvide ad hoc directionAuthorize project closure3. Initiating a ProjectInitiating a Project procedure is aimed towards the Project Manager, who performs the maximum job in this process. In the other project management methods, this process is termed as planning. It is a time-consuming part of project management and the most important one too. The failure and success of a project are related directly to the planning level that was done. The activities in this step include the following:Agree on tailoring needsPreparing the risk management approachPreparing the change control approachPreparing the quality management approachPreparing communication management approachSet project controlsCreate a project planFormulate the Benefits Management ApproachAssemble the PID or project initiation documentationThe project manager has the responsibility to assemble the PID. It comprises of the following items:Project definitionProject approachBusiness caseTeam structureRole descriptionsQuality management approachChange control approachRisk management approachCommunication management approachProject planProject controls4. Controlling a stageThis process includes making sure that the management stage stays within tolerance. It starts when a stage is authorized to move forward by a project board and its activities are carried out by a project manager.Authorizing a work packageReview status of work packageGet completed work packagesReview management stage statusReport highlightsAssess and capture issues and risksEscalate risks and issuesTake corrective action5. Managing Product DeliveryThis product focuses on the delivery of the end service or product of a project. It is performed by the team manager primarily, the technical manager, who transfers the reports and the project to the project manager. Three major activities in this process are as follows:Accepting a work packagePerform a work packageSend a work package6. Managing State BoundariesAs management stage approaches, this procedure comes in. It is needed so that a project board may review the success of the present stage and approve the succeeding stage. At state boundaries, PID is updated and most project documents are confirmed and reviewed. The activities performed by the project manager are as follows:Planning the succeeding management stageUpdating the project planUpdating a business caseReport Management stageCreate an exception plan7. Closing a ProjectA project is a provisional endeavor. It has a beginning and an end. The project closure jobs are very small and visible to senior management; therefore, they have a vast role in project success. The five activities in Closing a Project process are as follows:Prepare planned closurePrepare premature closureHand over productsEvaluate the projectRecommend project closureThe Project Manager recommends project closure for the Project Board’s approval.PRINCE2® Process ModelYou will get articles on PRINCE2® processes in Portuguese, Spanish, Russian, Italian, Dutch, French, and Polish. A process is recognized as an organized set of activities and their job is accomplishing a particular objective. There are many activities of PRINCE2® meant for Starting Up a project or running a project. It groups them into processes.Actually, PRINCE2® is considered a process-based approach which is highly beneficial for project management, and there are mainly seven processes that will guide a person through the project. Every project does provide a set of activities and these activities aid in directing, managing, and delivering a project. You will get them all in the manual of PRINCE2®.                                                     The seven processes of PRINCE2® are:SU (Starting Up a project)IP (Initiating a Project)DP (Directing a Project)CS (Controlling a Stage)MP (Managing Product Delivery)SB (Managing a Stage Boundary)CP (Closing a Project)Summary of the ProcessesThere are 7 management processes in PRINCE2® and each process has the job of one of the management levels, as Project Manager, Team Manager, or Project Board.Directing a Project Process – It has the liability of the Project Board. Directing a Project Process runs from the beginning of the project and continues to live till the last. Starting Up a Project method happens prior to the starting of the project. During Directing a Project procedure, the Project Board does authorize project stages besides managing the general project through the utilization of Management by Exception.The Starting Up a Project process – This is considered the liability of both the Executive and the Project Manager. It is viewed as the very first process and it is recognized as the Pre-Project process as it happens prior to the starting of the project. This is because the project doesn’t start before the Initiation Stage. In this process, the project’s reasons are recognized, the project management team gets assigned, and a Stage Plan gets created for running the Initiation Stage.Initiating a Project Process – This process is the procedure which defines the product quality, Project Product, project timeline, costs, the commitment of resources, risk analysis, and assembles the Project Initiation Documentation (PID). It is also the process where the creation of Project Plan happens and the Business Case meant for the project gets decided. All this information is accumulated into the PID.Controlling a Stage Process – In the process of Controlling a Stage, the Project Manager does the majority of the work. He watches the work closely, takes remedial action, has a communication with the stakeholders, and observes alterations. Every action can get repeated many numbers of times by the Project Manager until the stage becomes complete.The Managing Product Delivery Process – In the process of Managing Product Delivery, the planned components are formed and it becomes the liability of the Team Manager. Here, the compounds are created, the Work Packages are implemented, and work gets accomplished. The Team Manager does receive the Work Packages that are a list of jobs from the Project Manager. After this, he delivers the finished and tested Work Packages to the Project Manager again.The Managing a Stage Boundary Process – This process has got a couple of primary functions. The first one is reporting on the current stage’s performance and the second one is planning the subsequent stage. Hence, the Project Board is liberal to check how good the stage has finished its work against the Stage Plan. So, it can be said that the job of this process is evaluating the stage and preparing the plan meant for the subsequent stage.The Closing a Project Process – This process does cover the job of wrapping up the project. Additionally, this process is considered the concluding portion of the final and last stage. PRINCE2® recommends many activities for preparing the project for the finish, like Lessons Learned Report, Acceptance Record, and End Project Report. The productivity of this process would be fundamental for the confirmation of closure of the Project Board because the Project Board remains responsible for closing a project in place of the Project Manager.PRINCE2® Stage GatesPRINCE2® uses the Stage Gate Model for controlling the progress of a project. It means the work that is to be delivered is broken down into manageable sections each of which is easily understandable. PRINCE2® name these sections as Management Stages. At the end of every Stage or Section, three important checks are done without fail:Look Back- to make sure the work of the present stage is done or nothing is left behind.Look at the Big Picture- review the Project’s viability in a business case, check the project plan’s schedule, and make sure all risks are properly documented and are under control.Look forward- provide a Stage Plan for covering the work in the upcoming stage.The stage is a PhaseProjects should be broken down into phases to make them manageable. In fact, it is a very simple and known principle in any project management. The management stages of PRINCE2® are discrete and sequential sections of a project. The stages are chronological and most cases interdependent. One stage happens only after the earlier one is completed. Stages may involve the same work or different work. There is no rule as to when a stage should end and when the next one begins; however, the stages must be sufficiently small to be manageable and large enough so that micromanaging the resources invested and people involved becomes easy.Choice of StagesStage boundaries are selected based on project phases if they exist. The completion of project deliverables and project life cycle events can make good stage boundaries. The complexity and size of a Project is an important factor in several stages. There are complex and large projects that have more stages and they have more control over project work.All projects basically have two stages: an initiation stage and an execution stage. In the first stage, the project planning activities are done, i.e. the blueprint is developed and in the second stage, project execution happens.Process Model ColorColor plays a vital role in the PRINCE2® process model. There are several processes included in the model and some processes are applied more than another process. For a better understanding of the relationships among different processes, colors are used in the PRINCE2® process model. Following four colors items are found in the whole process model:Blue items: Items with blue shades signify these items are used or executed once in the whole project.Green items: Items with green shades are used once in each stage.Orange items: Items with orange shades can be executed several times in a stage.Dark red items: Items with dark red shades signify it can be implemented several times in a stage.
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Know Everything About PRINCE2® Processes, Process Model & Stage Gates

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Know Everything About PRINCE2® Processes, Process Model & Stage Gates

PRINCE2® is considered the abbreviation of Projects IN Controlled Environments and it is a structured project management process as well as the practitioner certification programme. It lays stress on dividing projects into controllable and manageable stages. There are many countries from all across the globe that adopt PRINCE2® and those countries include Western European countries, the UK, and Australia. The training of PRINCE2® is obtainable in various languages and it was developed in the form of a United Kingdom government standard intended for information systems projects. In the year 2013, the ownership of rights was transferred from HM Cabinet Office to AXELOS Ltd. which is considered a joint venture by Capita and the Cabinet Office to PRINCE2® with 49 percent and 51 percent stakes respectively.

PRINCE2® Methodology

PRINCE2® methodology segregates the whole projects into various stages and every stage is managed in a separate manner. 

With  PRINCE2® methodology, 7 processes are involved:

Steps in PRINCE2 Methodology

1. Starting up a Project

The primary process includes activities that are necessary to make sure that it is a worthwhile and viable project. The activities involved in this process are the following ones:

  • Appointment of the project and executive manager
  • Appoint and design the project management team
  • Capture previous lessons
  • Prepare an outline business case
  • Choose the project approach and accumulate the project brief
  • Plan the initiation stage

2. Directing a Project

This process includes the project board. In this process, authorization is given to manage a project, to proceed continuously, and provide ad hoc direction when needed. The activities of directing a Project process include the following:

  • Authorize initiation
  • Authorize the project
  • Authorize stage or an execution plan
  • Provide ad hoc direction
  • Authorize project closure

3. Initiating a Project

Initiating a Project procedure is aimed towards the Project Manager, who performs the maximum job in this process. In the other project management methods, this process is termed as planning. It is a time-consuming part of project management and the most important one too. The failure and success of a project are related directly to the planning level that was done. The activities in this step include the following:

  • Agree on tailoring needs
  • Preparing the risk management approach
  • Preparing the change control approach
  • Preparing the quality management approach
  • Preparing communication management approach
  • Set project controls
  • Create a project plan
  • Formulate the Benefits Management Approach
  • Assemble the PID or project initiation documentation

The project manager has the responsibility to assemble the PID. It comprises of the following items:

  • Project definition
  • Project approach
  • Business case
  • Team structure
  • Role descriptions
  • Quality management approach
  • Change control approach
  • Risk management approach
  • Communication management approach
  • Project plan
  • Project controls

4. Controlling a stage

This process includes making sure that the management stage stays within tolerance. It starts when a stage is authorized to move forward by a project board and its activities are carried out by a project manager.

  • Authorizing a work package
  • Review status of work package
  • Get completed work packages
  • Review management stage status
  • Report highlights
  • Assess and capture issues and risks
  • Escalate risks and issues
  • Take corrective action

5. Managing Product Delivery

This product focuses on the delivery of the end service or product of a project. It is performed by the team manager primarily, the technical manager, who transfers the reports and the project to the project manager. Three major activities in this process are as follows:

  • Accepting a work package
  • Perform a work package
  • Send a work package

6. Managing State Boundaries

As management stage approaches, this procedure comes in. It is needed so that a project board may review the success of the present stage and approve the succeeding stage. At state boundaries, PID is updated and most project documents are confirmed and reviewed. The activities performed by the project manager are as follows:

  • Planning the succeeding management stage
  • Updating the project plan
  • Updating a business case
  • Report Management stage
  • Create an exception plan

7. Closing a Project

A project is a provisional endeavor. It has a beginning and an end. The project closure jobs are very small and visible to senior management; therefore, they have a vast role in project success. The five activities in Closing a Project process are as follows:

  • Prepare planned closure
  • Prepare premature closure
  • Hand over products
  • Evaluate the project
  • Recommend project closure

The Project Manager recommends project closure for the Project Board’s approval.

PRINCE2® Process Model

You will get articles on PRINCE2® processes in Portuguese, Spanish, Russian, Italian, Dutch, French, and Polish. A process is recognized as an organized set of activities and their job is accomplishing a particular objective. There are many activities of PRINCE2® meant for Starting Up a project or running a project. It groups them into processes.

Actually, PRINCE2® is considered a process-based approach which is highly beneficial for project management, and there are mainly seven processes that will guide a person through the project. Every project does provide a set of activities and these activities aid in directing, managing, and delivering a project. You will get them all in the manual of PRINCE2®.                                                     

The seven processes of PRINCE2® are:

  • SU (Starting Up a project)
  • IP (Initiating a Project)
  • DP (Directing a Project)
  • CS (Controlling a Stage)
  • MP (Managing Product Delivery)
  • SB (Managing a Stage Boundary)
  • CP (Closing a Project)

Summary of the Processes

There are 7 management processes in PRINCE2® and each process has the job of one of the management levels, as Project Manager, Team Manager, or Project Board.

  • Directing a Project Process – It has the liability of the Project Board. Directing a Project Process runs from the beginning of the project and continues to live till the last. Starting Up a Project method happens prior to the starting of the project. During Directing a Project procedure, the Project Board does authorize project stages besides managing the general project through the utilization of Management by Exception.
  • The Starting Up a Project process – This is considered the liability of both the Executive and the Project Manager. It is viewed as the very first process and it is recognized as the Pre-Project process as it happens prior to the starting of the project. This is because the project doesn’t start before the Initiation Stage. In this process, the project’s reasons are recognized, the project management team gets assigned, and a Stage Plan gets created for running the Initiation Stage.
  • Initiating a Project Process – This process is the procedure which defines the product quality, Project Product, project timeline, costs, the commitment of resources, risk analysis, and assembles the Project Initiation Documentation (PID). It is also the process where the creation of Project Plan happens and the Business Case meant for the project gets decided. All this information is accumulated into the PID.
  • Controlling a Stage Process – In the process of Controlling a Stage, the Project Manager does the majority of the work. He watches the work closely, takes remedial action, has a communication with the stakeholders, and observes alterations. Every action can get repeated many numbers of times by the Project Manager until the stage becomes complete.
  • The Managing Product Delivery Process – In the process of Managing Product Delivery, the planned components are formed and it becomes the liability of the Team Manager. Here, the compounds are created, the Work Packages are implemented, and work gets accomplished. The Team Manager does receive the Work Packages that are a list of jobs from the Project Manager. After this, he delivers the finished and tested Work Packages to the Project Manager again.
  • The Managing a Stage Boundary Process – This process has got a couple of primary functions. The first one is reporting on the current stage’s performance and the second one is planning the subsequent stage. Hence, the Project Board is liberal to check how good the stage has finished its work against the Stage Plan. So, it can be said that the job of this process is evaluating the stage and preparing the plan meant for the subsequent stage.
  • The Closing a Project Process – This process does cover the job of wrapping up the project. Additionally, this process is considered the concluding portion of the final and last stage. PRINCE2® recommends many activities for preparing the project for the finish, like Lessons Learned Report, Acceptance Record, and End Project Report. The productivity of this process would be fundamental for the confirmation of closure of the Project Board because the Project Board remains responsible for closing a project in place of the Project Manager.

PRINCE2® Stage GatesThree checks in PRINCE2 Stage gates

PRINCE2® uses the Stage Gate Model for controlling the progress of a project. It means the work that is to be delivered is broken down into manageable sections each of which is easily understandable. PRINCE2® name these sections as Management Stages. At the end of every Stage or Section, three important checks are done without fail:

  • Look Back- to make sure the work of the present stage is done or nothing is left behind.
  • Look at the Big Picture- review the Project’s viability in a business case, check the project plan’s schedule, and make sure all risks are properly documented and are under control.
  • Look forward- provide a Stage Plan for covering the work in the upcoming stage.

The stage is a Phase

Projects should be broken down into phases to make them manageable. In fact, it is a very simple and known principle in any project management. The management stages of PRINCE2® are discrete and sequential sections of a project. The stages are chronological and most cases interdependent. One stage happens only after the earlier one is completed. Stages may involve the same work or different work. There is no rule as to when a stage should end and when the next one begins; however, the stages must be sufficiently small to be manageable and large enough so that micromanaging the resources invested and people involved becomes easy.

Choice of Stages

Stage boundaries are selected based on project phases if they exist. The completion of project deliverables and project life cycle events can make good stage boundaries. The complexity and size of a Project is an important factor in several stages. There are complex and large projects that have more stages and they have more control over project work.

All projects basically have two stages: an initiation stage and an execution stage. In the first stage, the project planning activities are done, i.e. the blueprint is developed and in the second stage, project execution happens.

Process Model Color

Color plays a vital role in the PRINCE2® process model. There are several processes included in the model and some processes are applied more than another process. For a better understanding of the relationships among different processes, colors are used in the PRINCE2® process model. Following four colors items are found in the whole process model:

Process Model Color

  • Blue items: Items with blue shades signify these items are used or executed once in the whole project.
  • Green items: Items with green shades are used once in each stage.
  • Orange items: Items with orange shades can be executed several times in a stage.
  • Dark red items: Items with dark red shades signify it can be implemented several times in a stage.
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The 7 Principles of PRINCE2®

There is a wide range of project management methodologies available in the market, but PRINCE2® is one of the most widely used project management methods that has been used by the enterprises and businesses in more than 150 countries. One of the sheer benefits of the PRINCE2® method is that it can be applied to different projects, irrespective of their sizes and business verticals. It is noticeable that the PRINCE2® project management method can be used in IT as well as non-IT projects too. It is a comprehensive project management method that can be applied to any project irrespective of their geographical location, industry sector and project size.  The PRINCE2® course covers basic four elements: themes, processes, principles and project management. There are some impeccable benefits of a PRINCE2® certification for candidates. There are two major types of certification available in the PRINCE2® project method: PRINCE2® Foundation qualification PRINCE2® Practitioner qualification The foundation program is a basic course that covers basic principles and themes for supporting individuals who work in a project environment supported by PRINCE2®. Candidates who belong to engineering and technology can go for this Foundation qualification course.  The PRINCE2® Practitioner qualification course is an advanced course that covers all the aspects of the PRINCE2® method including themes, processes, principles and project management. You will get a comprehensive introduction to the PRINCE2® project management method. There are some institutes that also train candidates for PRINCE2® management roles that are essential when the project is very big and complex. 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Can you guess a reason behind project failure? Here’s a hint. A poor risk or issue management can lead to project failure. According to PMBOK, risk can be defined as an uncertain event or condition that results in a positive or negative effect on a project’s objectives. Whereas, an issue can be defined as an event or condition that has already happened and has impacted or currently impacting the project objectives. There are certain grounds on which we can differentiate issues from risks. Let’s take a look at the differences. Difference between Risk & Issues Before moving to the core differences, let’s take a look at the comparisons between examples of risk and issues through the following chart: Risks Issues A critical resource might leave the project A team member resigns Team members of the project might take vacations during the critical time of the project. No one can be confirmed when team members would take vacations. There may be unanticipated requirement changes. New functionality has been found that needs to be added to the scope of the project. Something new might come up after impact analysis that may push the project dates. Two new changes which are the outcome of Impact analysis resulted in pushing the project deadline by a week. First of all, let’s look at the high-level difference between “Issues” & Risks”: Now let’s see how risks & issues play an integral role in a project: In general, if a project manager identifies all the possible negative risks and their respective response plans within the project, then the possibility of issues can be drastically reduced.  (i.e. prevention is better than cure). However, certain unforeseen situations may still arise which turn out to be issues. They could be certain potential risks which were unidentified in the past. They could also be risks which have been already identified, where the risk response plans are inadequate- and those events turn into issues and impact the project. If a project manager pays inadequate attention to risk management, there is a greater possibility of his spending his valuable time & efforts later in managing the issues that arise! Now, when it comes to issue management the project manager will document the issues in the “issue register” and will perform an issue analysis to identify the possible “work-arounds” to fix the issue. For example: Let us suppose there is a FIRE in the room. If we consider this in the context of issue & work-around, we say that there has been an occurrence of a fire, and we need to put it off by using a fire extinguisher. Since issues are present focused, there is a very limited time available to identify the work-arounds required to fix the issue. Once the work-arounds are identified, it’s also equally important that such issues should not get repeated in the future. There should also not be any possibility of re-occurrences in a different form, in order to bring it to a permanent closure.  In case of a re-occurrence then such events will be treated as “risks” because risks are future focused. They will be documented in the “risk register” and then sufficient risk response plans should be identified to cover those possible future risks. What are the types of risks in Project Management? Risks in projects are inclusive of both internal risks that are associated with the successful completion of each project as well as the risks that are beyond the project team’s control. The following are a few of the most common project risks: Cost risk: This refers to the escalation of project costs as a result of poor cost estimating accuracy and scope creep. Schedule risk: This refers to the risk of activities taking longer than expected. Drifting away from the schedule typically increase costs which leads to a delay of receiving project benefits and possible loss of competitive advantage. Performance risk: This refers to the risk of failure to produce consistent results with project specifications. There are some other risks which result in cost, schedule, or performance problems and create other types of adverse consequences for the organisation. They are as follows: Governance risk: This risk relates to the board and management performance with regard to ethics, community stewardship, and company reputation. Strategic risks: These risks are the result of the errors in strategy like choosing a technology that can’t be made to work. Operational risk: These risks comprise of risks from poor implementation and process problems like production, procurement, and distribution. Market risks: These risks comprise of risks related to foreign exchange, competition, interest rate, and commodity markets. This also includes liquidity and credit risks. Legal risks: These risks arise because of legal and regulatory obligations which include contract risks and litigation brought against the organisation. External hazards risks: These risks are incurred due to storms, floods, and earthquakes. Other than these, vandalism, sabotage, terrorism, labor strikes, and civil unrest are responsible for such type of risks. What is the importance of risk identification? The most important step in risk management is identifying risks. It involves generating a comprehensive list of threats and opportunities which are based on events that might prevent, enhance, accelerate, degrade, or delay the achievement of your objectives. You can’t manage risk without identifying it. But how to identify risks? One of the key steps in a proactive risk management process is to identify risks. You must look at the following sources in order to identify your project risk: Sources Description Risk registers and risk reports Provide a foundation for the evaluation of existing risks and their potential risk to an objective. Issues log It comprises of the issues and the actions considered to resolve them. Analyze the issues that were formally identified as risks. Audit reports These are the independent view of adherence to regulatory guidelines which include a review of compliance preparations, access controls, security policies, and risk management. Business Impact Analysis (BIA) It is a detailed risk analysis that is done in order to examine the nature and extent of disruptions and the likelihood of resulting consequences. Internal & external reviews These reviews are undertaken in order to evaluate the adequacy, suitability, and effectiveness of the department’s systems, and to plan for the scope of improvement. Perspectives for Risk Management It is important to realise the perspectives for risk management and evaluate them during a program’s life continuously in order to anticipate risks at an early stage and tackle issues appropriately. Few of the risk management perspectives are as follows: Strategic level: The interdependencies of the program with other initiatives, its outcomes, and benefits realisation are affected by the strategic level changes. These changes are driven by: External factors like political, economic, social, legislative, environmental, and technical Internal political pressure Inter-program dependencies Working with third-party suppliers along with other cross-organisational initiatives can be grouped under this level. Program level: The focus of a program is to deliver benefits to an organisation that positively or negatively affects both internal and external stakeholders. Risk Management for a program must be designed to work across organisational boundaries to ensure effective engagement of stakeholders and accommodation of different interests. The principal areas of risk and issues within a program are driven by: Aggregating project threats Lack of direction from the group of leaders Lack of clarity about expected benefits and buy-in from stakeholders Complexity of outcomes You should also consider the compilations associated with working across the organisational boundaries as another factor Availability of resource Lack of certainty about funding This also includes unrealistic timelines that increase program delivery risks. Project level: Project outputs help in delivering the outcomes and benefits within a program. Focusing on the risk and issue management on project perspective is important Areas leading to the rise of project risks and issues, resource constraints, scheduling issues, and scope creep It may lead to issues and risks if the project is unsure of what it is delivering. Operational level: The transition of a project to new ways of working and new systems can lead to further sources of risk as projects deliver the outputs. The following areas can be included in the operational level perspectives: The quality of the benefit-enabling outputs from projects within program Cultural and organisational issues Output transfer to operations and the ability to cope with new ways of working The risks can further be identified in stakeholder support Industrial relations Availability of resources to support changes. Early warning indicators for risks in project management The early warning indicators for project management can be defined as follows: In order to anticipate potential problems, there needs to be proactive risk management. These indicators offer advance warning about trends or events that can affect the outcomes of the program adversely. The sensitive risks can be tracked with the help of these indicators. Few of the early warning indicators are delays in delivery of expected or planned benefits, requests to change key program information, increase in aggregated risks, changes to organisational services, structure, and processes. Further, these indicators should be able to measure valid indicators, reviewed on a regular basis, and they should use accurate information. This ensures the effective functioning of the early warning indicators. The other methods which can be deployed to evaluate risks are as follows: Record the weighted average of the anticipated impact through the calculation of estimated monetary value. Calculate the accepted discount rate through the net present value calculation. Aggregate the risks together using a simulation technique through risk model. To conclude An experienced and certified project manager knows that every project involves identifying and managing project risks and project issues. Further, they are aware of the fact these risks and issues can be responsible for knocking a project off its track and divert the focus of the team away from fulfilling their responsibilities and goal achievements. This blog will help you to differentiate between project risk and project issues along with the key steps for identifying the risks. You will also understand the importance of risk identification and the perspectives of risk management. The blog also throws light on the early warning indicators to realise the risks in project management. This information will surely help you to realise the upcoming risk and avoid it for a smooth continuation of your project.
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Risk vs Issues [ Based on Various Factors ]

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PMI-ACP® Agile Certification Requirements and Processes

So. you want to get your PMI-ACP®  certification and are wondering what the PMI-ACP®  Certification course requirements and processes are! You are in the right place and this post will hopefully be beneficial in guiding you with regard to all the optional and mandatory steps required to apply for the certification. It’s obvious, whenever someone start a process (Certification Education) or anything new, the first question that comes to mind is, where should I start , and what are the requirements. The PMI-ACP® certification has been recently launched by PMI® . Here we have compiled a list of all the PMI-ACP® certification requirements and processes step by step in detail.   PMI-ACP® Certification Requirements and Processes There are basically seven steps required for PMI-ACP® certification; some are optional while others are mandatory. Step #1: User ID: This is optional. Go to PMI.org and create a User ID. This is not mandatory but there are benefits and I will mention a few of them: Free. You will be able to create a profile and your mode of payment, which makes later access easy. You will get up to date information from PMI®.   Step #2: Eligibility: This is the tricky part and most people get confused. (You can also go to PMI.org and perform the following steps to get updated information as PMI® may change their rules from time to time. Go to PMI.org —> select Certification —>select PMI-ACP. The eligibility is listed. Diploma: · High school. · One year of General Project Management experience with 2,000 hours of work with project teams. · Eight months of Agile Project Management experience with 1,500 hours of work with project teams using agile methodologies. · 21 hours of Agile Project Management Training.   If you think you are eligible, move to step 3. Step #3: Membership: This is optional and is different than your user id. PMI® has a membership service, which offers some benefits. There are several types of membership and the fee is different for each type. Please do check PMI® Membership and Types, PMI® Membership Fee and PMI® Membership Benefits. Also please visit PMI.org for updated information on membership, types, and benefits in details and check whether the membership suits your needs or not. We are mentioning a few benefits of membership here: Free access to PMI® library and a free copy of PMBOK Access to Local PMI® chapter, useful for getting PDUs and networking Waiver in PMI®-ACP fee and re-certification fee   Step #4: Application: Refer to Step #2, mentioning the education and project hours. Now you have to submit an application to PMI® showing proof of your education, the project hours and project management training that you have undergone. Previously, you had to do it online but now PMI® offers a downloadable pdf as well. You have to fill in the required details covering all processes and the hours you spend on each process. Step #5: Fee: When you submit your application, you will be contacted within a few working days and will be asked to deposit the fee for certification. Now as was mentioned previously, the fee is different for both members and non-members. Step #6: [one_half] A: Application accepted: You will be asked to proceed and schedule your exam at a Prometric center. B: Audit: PMI® randomly selects some applicants for an audit process.[/one_half] Step 6 has two parts as you can see; either your application will be accepted or put a hold for an audit. If you are one of the unlucky ones that are caught in the audit process then you have to show written confirmation from the bodies who authorize the education, experience and project management training. Step #7: Schedule exam: Once you are done with the above steps, the last step is to schedule your exam according to your convenience at prometric.com. However, before you schedule your exam, I would encourage you to read this article to familiarize yourself with the PMI®-ACP Exam Format.
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PMI-ACP® Agile Certification Requirements and Pro...

So. you want to get your PMI-ACP®  certification... Read More