## Steps Involved in Risk Management for an Improved Project Execution

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# Steps Involved in Risk Management for an Improved Project Execution

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## 1. What is risk management and why is it important?

Risk is an uncertain event which could possibly on its occurrence, affect the ongoing project life-cycle/ phase and in turn the project’s outcome. A risk may be a potential hazard to the planned outcome of the project in terms of Cost, Time and Quality. However, in a few cases, the risk may turn out to be a positive catalyst to the project.

Uncertainties in a project may be anticipated mostly based on experience and historical data which can be mitigated or avoided while few cannot be anticipated turning out to be absolute disasters ruining the project outcome out-and-out.

One can compare the risks/ uncertainties with occurrence in every individual’s life shackling its progress. Attending untimely or de-efforts to mitigate it may lead to tragedy. Hence, managing such risks is of utmost importance to safeguard the interests of the project or life. Nevertheless, life is also a project with many phases in it.

The objectives of the risk management initiative are to

• ensure compliance with applicable rules and regulations,
• assurance that the activities comply with PACED (will be discussed later in this article),
• support decision-making with appropriate risk-based information,

thus assisting in enhancing

• the efficiency of operations,
• the effectiveness of processes and
• efficaciousness of strategies.

## 2. What are the five steps in the risk management process?

For a successful risk management, there are five (5) steps to be executed in a proper manner.

• Plan Risk Management - defining methodology to be applied for managing the risk.
• Identify the Risk(s) - listing out the possible uncertain events those could affect the project outcome.
• Perform Risk Analysis - analysing the probability of occurrence of the risk and its possible impact (Qualitative) on the project outcome based on the numerical analysis (Quantitative).
• Plan Risk Response(s) - developing strategies for the possible and probable risks to either enhance the positive effect or reduce the negative consequence.
• Control Risk(s) - performing all the above steps/ identifying new risks/ evaluating risk process effectiveness throughout the project.

## 3. What are the 4 process steps of risk management?

The four (4) process steps involved in risk management are:

• Identify - distinguishing the possible risks
• Assess - analyzing the probable impact of the identified risks
• Control - managing or mitigating the risks depending on the risk nature
• Review - evaluating the process of risk management to the requirements

## 4.What are the methods of risk management?

Methods of risk management include:

• Risk strategy
• Risk management framework
• Risk management documentation
• Risk management responsibilities
• Risk-aware culture
• Risk training and communication

• Risk assessment
• Importance of and approaches to risk assessment
• Short, Medium and Long-term risks
• Risk likelihood and impact
• Loss control

• Risk response
• Importance of risk appetite - risk capacity and risk exposure
• 4Ts of hazard response - Tolerate, treat, transfer and Terminate
• Risk control techniques - Preventive, Corrective, Directive and Detective

• Risk assurance and reporting
• Evaluation of control environment

• Activities of an internal audit function

• Risk assurance techniques - audit committees

• Reporting on risk management - risk documentation

• Importance of corporate reputation

## 5. How do you project risk management?

Risk Management in project has become of utmost priority because of experiencing global financial crisis and increase in a number of corporate failures, also, increasing stakeholder expectations.

Whichever the field the project is, there is always a possibility of encountering risks which may or may not be averted depending on its nature. However, risk management is everyone’s responsibility.

Here, I would like to mention the 10 myths of risk management by Dr. David Wilson which clearly states what risk management is all about and its role among the project teams.

• Risk management is a waste of time
• What you don’t know won’t hurt you
• The risk manager manages risk
• All risks can and should be avoided
• Our projects aren’t risky
• Risk management requires statistics
• Risks are covered by routine processes
• Contingency is for wimps
• Risk management doesn’t work

## 6. What are the types of risk?

Risks can be divided into three (3) categories:

• Hazard Risk - associated with the management of pure risk - need to be mitigated.
• Control Risk* - associated with the management of uncertainty (unknown and unexpected) - need to be managed.
• Opportunity Risk - associated with the benefits of speculative opportunities - need to be enhanced.

Note: * not to be confused with Control Risk - one of the five steps of the risk management process.

There are certain events that can only result in negative outcomes. These risks are hazard risks or pure risks. In general, organizations will have a tolerance of hazard risks, and these to be managed within the levels of that tolerance. A common area where these kinds of risks are observed is Occupational health and safety.

There are certain risks that give rise to uncertainty about the outcome of a situation. These can be described as control risks. Often these risks generate uncertainties on the project budget, time and quality which are to be taken care of or managed to be in the desired range. The main purpose of managing such risks is to reduce the variance between anticipated outcomes and actual results.

At times, organizations consciously take risks in order to achieve a positive return, though not guaranteed. These can be described as opportunity risks. These relate to the relationship between risk and return.

However, apart from the above, a project may face risks from four (4) different ways which can be broken down as below. These, again, maybe of hazard, control and opportunity kind of risks.

## 7. What are the principles and techniques of risk management?

• Principles of risk management:

The main principle of risk management is that it reduces the volatility or uncertainty of outcomes thus achieving the best possible result/ product.

A successful approach to risk management initiative and framework within an organization is known as PACED.

• P - Proportionate to the level of risk
• A - Aligned with other business activities
• C - Comprehensive, systematic and structured
• E - Embedded within business processes
• D - Dynamic, iterative and responsive to change

However, the key goal of risk management is to enhance the efficiency of operations, the effectiveness of processes and efficaciousness of strategies.

As the result of a risk may have on the project, a negative impact (due to hazard or pure risk) or a positive impact (due to opportunity or business risk) so the strategies to deal with the risks.

• Techniques in risk management:

a. Hazard or pure risk:

• Avoid - changing the project plan so that particular risk can’t occur during which inadvertently new risks arise called secondary risks.
• Mitigate - steps are to be taken to reduce the likelihood and/or impact of an identified risk.
• Transfer - outsourcing the risk or awarding the handling of risk to a third party.
• Accept - tolerating the risk as it is.

• Exploit - reduce the time to completion or to provide lower cost than originally planned.
• Share - forming risk-sharing partnerships, teams or JVs.
• Enhance  - increase the probability and/or positive impact of an opportunity.
• Accept - no action.

In whichever the given situation, both the risks must be assessed and managed.

## 8. What are the four ways to deal with risks?

Priority significant risks facing by an organization are those that have:

• High or very high impact in relation to the benchmark test for significance
• High or very high likelihood of materializing at or above the benchmark level
• High or very high scope for cost-effective improvement in control

To handle such risks, Paul Hopkin - Author of Fundamentals of Risk Management, stated in his book, four (4) ways called 4Ts.

• Tolerate risk and its likely impact - a detective action is required to control the risk.
• Treat risk to reduce the likely impact - a corrective action is required to control the risk.
• Transfer risk to the third party - a more directive action is required to control the risk.
• Terminate activity generating the risk - a preventive action is required to control the risk.

## 9. What is risk management in project management?

Drawing a distinction between project risk management and the reason why the project was undertaken is of utmost importance because project risk management is concerned about the risks embedded within the delivery of the project. Project risk management should be an extension of project planning. The main requirements of any project are that it is delivered on time, within the budget (cost) and to specification or performance (quality).

A risk is often defined in terms of uncertainty or deviation from required outcomes. Therefore, the focus of risk management is often on the reduction in the variability of outcomes and the management of control risks. Project risk management is a type of control management. Project risk management is one of the successful areas for the application of risk management tools and techniques.

As per the Project Risk Analysis and Management (PRAM) Guide developed by The Association for Project Management (APM), there are five (5) points in a project where an accurate prediction of the impact of risk-based events can be done:

• Feasibility: at this stage the project is most flexible, enabling changes to be made that can reduce the risks at a relatively low cost.
• Sanction: the client can view the risk exposure associated with the project and check at all steps to reduce/ manage the risks have been taken.
• Tendering: the contractor can ensure that all risks have been identified by the risk contingency or risk exposure limits have been set.
• Post Tender: the client can ensure that all risks have been identified by the contractor and assess the likelihood of programmes being achieved.
• During implementation: the likelihood of completing the project to cost and timescale will increase if all risks are identified and correctly managed.

Risk management should be embedded in project management so as to consider that it is just another project management technique. It must not be seen as an optional. It must be built-in into project management and not seen as a bolt-on. Built-in risk management has two (2) key characteristics:

• Project management decisions are made with an understanding of the risks involved.
• Risk management must be integrated with other project management processes.

## 10. The Importance of Risk Management In An Organisation

Importance of Risk Management in an Organization can be understood by analyzing a series of steps:

• Level of risk:

The explicit management of risks brings benefits. By taking a proactive approach to risk and its management, organizations will be able to achieve improvement in:

• Operations
• Processes
• Strategy

Stakeholders should expect that organizations will take full account of risks that may cause disruption within operations, late delivery of projects or failure to deliver the strategy.

The exposure presented by an individual risk can be identified in terms of likelihood of the risk materializing and the impact of the risk when it does materialize. As risk exposure increases, then likely impact will also increase. The level of risk should be compared with the risk appetite (set of risk criteria) of the organization for risks of that type.

• Impact of hazard risks:

Hazard risks undermine the objectives, and the level of impact of such risks is a measure of their significance. Hazard risk management is closely related to the management of insurable risks. Hazard (or pure) risk can only have a negative outcome.

Hazard risk management is concerned with:

• Health
• Safety
• Fire prevention
• Avoiding damage to property
• Consequences of defective products

Hazard risks can cause disruption to normal operations resulting in increased costs. Theft and fraud can also be significant hazard risks to an organization. Techniques to avoid such risks include adequate security procedures, segregation of financial duties, and authorization and delegation procedures, etc.

• Risk and reward:

Another feature of risk and risk management is that many risks are taken by organizations in order to achieve a reward. When an organization puts the value at risk, it should do so with the full knowledge of the risk exposure and it should be satisfied that the risk exposure is within the appetite of the organization. Even more important, it should ensure that it has sufficient resources to cover the risk exposure.

• Risk and uncertainty:

Risk is sometimes defined as uncertainty of outcomes. It is particularly applicable to the management of control risks. Control risks are most difficult to identify and define but are often associated with projects. The overall intention of a project is to deliver the desired outcomes on time, within budget (cost) and to specification (quality).

A certain level of deviation from the project plan can be tolerated, but it must not be too great.

• Attitudes to risk:

Different organizations will have different attitudes to risk. Some organizations may be considered to be risk-averse while some others risk aggressive. To some extent, it depends on the nature and maturity of the marketplace within which it operates, as well as the attitude of the individual board members

Risks cannot be considered outside the context that gave rise to them. Improvement in the decision-making process is one of the key benefits of risk management.

### Lekharaju Chaitanya

Blog Author

Lekharaju V N S S Chaitanya is a Project Management Professional (PMP) ® certified holder. With an experience of more than 5 years in Power Plant Industry, he is currently working as Project Coordinator for Scope, Risk and Cost Management.

Chaitanya is interested not only in professional genre but also a keen and profound concern on the modern day changes in the world affecting our teamwork to live.

He has a graduate degree in Mechanical Engineering and a great admirer of the genre of Economics. He regularly conducts and leads conferences at the organizational level for proper implementation of project management practices

The growing complexity of industrial challenges has led to a crisis of human resources who can meet the demands of projects across the globe. PMP® certification offered by PMI is designed on rigorous standards and ongoing research to enable you to meet the real-world challenges of organisations.Project Management Professional (PMP)® certification is the gold standard of project management certification which is developed by practitioners for practitioners. If you are getting curious about how can a certification help you to be in demand for various organisations across all industries, then you have picked the right spot to clear your doubts.Become a PMP® Certified Professional in 9 stepsIf you are planning to take up the PMP® certification exam soon then the following 9 steps will surely help you to plan your schedules to clear the exam at the first attempt: Step 1 - Begin with the PMP® Handbook The PMP® Handbook is a guide to all your queries about the procedures for applying and taking the exam. It consists of all the information that you need about the process of taking the PMP Exam and become a PMP® certified project manager. Step 2 - Fulfill the prerequisites to become a PMI certified project managerYou must fulfill the following educational and experience requirements in order to take the PMP® exam:If you have a high school diploma, an associate degree, or the global equivalent of these, then you must hold a minimum of 60 months of unique, non-overlapping project management experience. Moreover, you should have spent at least 7,500 hours of these 60 months in leading and directing project tasks.If you have a bachelors or its equivalent in your country then you must possess a minimum of 36 months of non-overlapping and unique project management experience of which you must have spent 4,500 hours in directing and leading project tasks.You must also show 35 contact hours of project management training in both cases.Step 3 - Become a Member of your local PMI Chapter Once you get a PMI membership, you realise that the discount is bigger than the membership fee. Apart from the free PDF version of PMBOK® Guide and discount on PMP® Exam, you stay updated with information related to PMP Prep Workshops once you become a PMI member.Moreover, you also get an opportunity to network and interact with the new and seasoned PMPs which increases your chance to clear your exam at the first go.Step 4 - It’s time to sign up for your PMP ExamI am sure, you will agree that exam preparations work better when there’s a deadline. Start with your PMP application procedure by visiting project management institute to register and then filling up your PMP Credential Application. You need to submit the same to PMI for approval. Once you receive your confirmation number, you can schedule your exam on the Prometric website.Step 5 - Study the PMBOK® GuideOnce you start preparing for your PMP® certification exam, you can use PMBOK® Guide as your primary reference. According to most trainers, one can find the correct answer for around 75% of the PMP® exam questions in the PMBOK® Guide. So, you must treat it as a resource and read it thoroughly.Step 6 - Get study materials for self-studyAs mentioned above, PMBOK® guide will give you a rough knowledge about the answers for your PMP® certification exam. So, apparently, you will have to use other study materials to cover up the gap. You can download the same from the internetYou can also try the self-study courses like PM PrepCast which will also help you to earn a certificate for the PMI-required 35 contact hours which you can’t earn by reading books.Step 7 - Attend a PMP® WorkshopPMP® workshops for 2 to 6 days are conducted by PMI Chapters, universities, and training companies around the world. These workshops give you an opportunity to interact with the instructors and other students to help you clear your queries about the PMP® certification exam.Step 8 - Answer Sample PMP® Exam questionsThere are numerous free sample questions which are available on the internet and you can use the same to check your learning curve. You should also keep a track of your scores to see where you are.Step 9 - Take the examAfter all the hard work, it’s time for you to appear for your PMP® certification exam. Don’t skip the short tutorial on how to use the computer and the software at the beginning of the exam to avoid a blunder.PMP®  Certification: Why should you get one?‘Professionals with a PMP® certification garner a higher salary (20% higher on average) than those without a PMP® certification’; Earning Power: Project Management Salary Survey Ninth Edition. Well, this statement might have answered one of your major queries. Having this PMI certification under your belt helps you to land up in any industry, anywhere in the world, and enable you to work with any project management methodology.    So, if you meet the following eligibility requirements as an experienced project manager then you should go ahead with adding this certification to your collar:Responsible for all aspects of the project for the life of the project and perform duties under general supervision.Deliver projects within the constraints of resources, schedule, and budgets by leading and directing cross-functional teams.Demonstrate sufficient experience and knowledge to appropriately apply a methodology to projects that have reasonably well-defined project deliverables and requirements.The PMP® certification enables you to understand and speak the global language of project management and connects you to a community of experts, organisations, and professionals worldwide to become a project hero.The Misconception About PMP® Certification Cost A common misconception prevails among all the PMP® aspirants about the PMP® Certification cost that it only consists of the exam fee. But least does anybody thinks about the other costs involved in it. The PMP® exam fee for the members and non-members of PMI are $405 and$555 respectively. Then other factors responsible for the cost of PMP® Certification are as follows:Online training cost for PMP® certificationPMP® classroom trainingPMI membership fee and joining feePMI membership renewal feePMP® Certification Exam feePMBOK Handbook cost for non-membersCost of study guides and resourcesCost of practice testsRenewal cost of PMP® certificationOnline and classroom training for PMP® certification: It gets very tricky when it comes to clearing your PMP certification exam at the first attempt. So, to be at a safer side you can choose between online or classroom PMP® training from any leading training provider in the market.The features and costs of these training might vary for every training provider. Also, this gives you the opportunity to meet the 35 hours of training requirement which you need to qualify for your PMP® certification exam.PMI Membership fee and joining fee: You need to pay a processing fee of $10 along with a membership fee to the PMI chapter to avail the PMI membership. Now, did you know that you can bring down your fee for PMP® certification exam, Re-examination, and CCR certification renewal by becoming a PMI member?Other than this, you can get free access to PMBOK® Guide, save money on globally recognized certifications and more, master new skills through free events and webinars, stay ahead of deadlines using 1,000+ free tools and templates, and make local as well as global connections.Cost of learning resources and PMBOK®: As soon as you get a PMI membership, you get access to a free version of the latest version of PMBOK® which a foundation standard for project management developed by Project Management Institute. Other than that, you require additional materials to prepare for your PMP® certification exam which costs you between$40 to $100.You can also buy practice tests for$60 to $100 which will give you a fair idea about the test format for PMP® certification.Renewal cost of PMP® certification:Once you get a PMP® certification, that’s not the end. Your credentials are valid for only three years and you need to renew it after that. You can renew your certification by paying$150 which can be brought down to $60 by getting a PMI membership.Maintain your PMP® certification with 60 PDUsGetting PMP® certified is not the end of your journey, as it is only valid for 3 years. You need to maintain your PMP® certification by earning 60 PDUs to fulfill the Continuing Certification Requirements (CCR).You can earn these PDUs by engaging yourself with various professional development activities which center around the areas of Education and Giving back to the Profession. You can also earn your 60 PDUs at one go by signing up for a 60 PDU bundle online training program offered by an established Registered Educational Provider.The way beyond PMP® CertificationGetting a PMP® certification opens your door towards a promising career. A PMP certified professional earns 20% more than a non-PMP certified professional. The following list consists of the country-wise industries along with the average salary earned by the Project Managers:CountryIndustryAverage PMP SalaryAustraliaAgriculture/Mining$166,000AustraliaFinancial services and Consulting industry$150,000United StatesPharmaceuticals$125,000United StatesAgriculture/Mining, Consulting$120,000CanadaAgriculture/Mining$115,000CanadaUtilities$110,000IndiaAgriculture/Mining, Healthcare$25,278IndiaTelecommunication, Engineering$23,874Salary of a Project Manager: Certified Vs Non-CertifiedGetting a PMP® certification apparently contributes towards increasing your annual earning. A non-certified Project Manager may earn up to$91,000 whereas, this figure can go up to $111,000 by adding a PMP® certification to your collar. However, even work experience contributes to an increase in salary for a PMP® certified professional but this growth is not uniform across the globe. Singapore tops the list where the difference between a three-year experienced and a twenty-year experienced PMP® certified professional is 177%.Your salary can also vary based on the type of job you are in. The salary of a PMP® certified professional is higher in IT. The following figures show the salary of PMP® certified professionals by job in the United States:JobSalary RangeProject Manager (Information Technology)$65,161 to $125,836ProjectManager (General)$57,877 to $122,485Program Manager$68,150 to $139,552Further, the size of the company also plays a key role in determining the salary of a PMP® certified professional. The following table will give you a clear idea of how the salary figures increase with the company size:Company SizeSalary Range1-9$94,72450-199$93,614600-1999$103,697>5000$111,620ConclusionIf you wish to grow in the field of Project Management, then getting a PMP® Certification is the best way to do that. Also, you can avail a lot of discounts and networking opportunities by becoming a PMI member. Further, it gives you access to the free PDF version of the latest PMBOK® Guide. To conclude, this blog gives you a clear idea of how to begin your PMP® certification journey. Moreover, you also get a glimpse of the professional future which lies ahead of PMP® certification. Rated 4.5/5 based on 12 customer reviews 6664 9 Steps To Becoming a PMP® Certified Professional The growing complexity of industrial challenges ha... Read More ## How Do I Maintain My PMP® Certification? Did you get PMP® certified? Congratulations! It is not an easy feat to go through all the hard work in order to get your PMP® certification. But your credential is valid for only three years. You must participate in the Continuing Certification Requirements (CCR) program of PMI to keep your credentials active.As a PMP® credential holder, it is recommended by the Project Management Institute (PMI) to earn 60 PDUs (Professional Development Units) every three years. The CCR program encourages every PMP® certified professional to undergo educational and professional development activity. One PDU is equivalent to one hour of time that you spend in a Professional Development activity. There are multiple ways to earn these PDUs.Maintain your PMP® certification with CCR and PDUsEarning your PMP® certification is a big step but maintaining it should not be a big issue for you. The Continuing Certification Requirements (CCR) program offered by PMI is designed for you to grow and develop the skills that organisations are seeking in the present market scenario and at the same time you can maintain your certification status.CCR is an easy-to-use online tool through which you can report your PDUs. The Professional Development Units (PDUs) can be calculated in blocks of one hour of time that you spend by learning, teaching others, or volunteering. You can maintain your PMP® certification status with PMI by accumulating and tracking these PDUs over a three-year period.You need to earn 60 PDUs in order to maintain your PMP® certification exam. You can claim the required PDUs in two forms. They are:EducationGiving backPMP® Certification renewal feesOnce you meet the PDU requirements of CCR, you can complete the renewal process of your credential at any point of the cycle. You will receive an electronic notification to apply for PMP® certification renewal after PMI confirms that you have met the PDU requirements. You will be directed to submit the renewal fee payment on the online certification system as soon as you receive the notification. You should keep in mind that you must submit the payment in no later than 90 days after your cycle end date.The CCR renewal fee for members and non-members are as follows:PMI Membership StatusCCR Renewal FeePMI member$60Non-member$150Ways to earn PDUs through Educational activities - PMI Talent Triangle™`Research shows that the ideal skill set which the practitioners need to possess should comprise of technical, leadership, and strategic and business management competency. This is called the PMI Talent Triangle™. These competencies can be explained as:Technical project management: This competency comprises of the knowledge, skills, and behaviors related to specific domains of Project, Program, and Portfolio Management.Leadership: This competency comprises of the knowledge, skills, and behavior specific to leadership-oriented, cross-cutting activities that help an organisation to achieve its business goal.Strategic and business management: This competency includes the knowledge and expertise required in the industry or an organisation that enhances performance and delivers the business outcomes in a better way.The courses and activities included under the three components of the PMI Talent Triangle™ for the candidates to meet the 60 PDU bundle requirement prescribed by PMI are as follows:TechnicalLeadershipStrategic and Business ManagementLife Cycle ManagementCoaching & MentoringCustomer relationship & satisfactionTime, Scope, Risk ManagementProblem SolvingBenefits RealisationEstimationTeam BuildingLegal & Regulatory complianceAgile PracticesEmotional IntelligenceStrategic planning & analysisGovernanceConflict ManagementOperational FunctionsData gathering and modelingBrainstormingBusiness acumenEarned value managementInfluencingCompetitive analysisPerformance ManagementListeningMarket awarenessInterpersonal skillsBusiness models and structuresYou can choose from one of the following options under Education in order to earn the 35 PDUs under the CCR program offered by the Project Management Institute (PMI)®:1. Course or TrainingThe courses or training refers to the Instructor-led formal education courses or classes held in-person or online. Taking up the educational training courses is one of the effective and traditional ways to learn. You can choose the best-suited option from the plethora of options offered by PMI and third-party providers across the globe to earn 1 PDU of every hour of instruction:Training courses offered by a PMI Registered Education Provider (R.E.P)Face-to-face and instructor-led courses from PMI SeminarsWorld®Educational events held by PMI chapterAcademic education through programs accredited by the PMI Global Accreditation Center (GAC)Courses offered by other third-party providersE-learning On Demand courses.2. Organisation MeetingsThe activities, meetings, and local events are referred to as organisation meetings which provide you with an opportunity to learn and network with the other professionals. You can earn 1 to 2 PDUs by attending the events organised by PMI throughout the year.3. Online or Digital MediaThis comprises of the self-paced learning conducted online or through varied forms of digital media. You can customise your learning and educational opportunities according to your needs and suitability with the help of technology. There are numerous educational webinars, videos, and other types of digital content available online and on demand. You can earn 1 PDU by attending 1 hour of learning. The opportunities available through these resources are as follows:ProjectManagement.comPMI Online CoursesPMI Registered Education Providers (R.E.P.s).4. ReadDid you know that you can earn PDUs for your CCR by reading? Yes, you can do that through self-directed reading that is relevant to your PMP® certification. Reading is one of the valuable components of learning and there are numerous reading resources available that is related to the profession. You can choose from articles, books, whitepapers, or blogs to keep yourself updated in order to support your ongoing professional development.5. Informal LearningYou can also earn PDUs to maintain your PMP® certification by taking part in educational opportunities which focus on structured discussions. Sometimes, you get to learn from interaction with others. Also, 1 hour of learning under informal learning is equivalent to 1 PDU.Ways to earn PDUs by giving back to the professionYou can expand your knowledge and skills both personally and professionally while earning your PDUs to maintain your PMP® certification by giving back to the profession. This can prove to be a unique and great way to expand your horizons.Choose from the following ways to earn your PDUs by giving back to the profession:1. Work as a PractitionerYou can claim 8 PDUs per cycle by working as a practitioner and working in a domain area related to your certification. This enables you to apply your skills and knowledge in a practical setting. It also allows you to contribute to sustaining and growing the profession. These PDUs are only applicable to your current cycle and cannot be transferred.2. Create ContentDid you know that you can give back to the profession by creating content? Yes, you can earn PDUs to maintain your PMP® certification by creating new knowledge resources for practitioners as well as the public at large. You can share your insight and knowledge with others and contribute to their ongoing learning by developing knowledge resources. You can earn 1 PDU by spending 1 hour on creating content and can create new content in the following ways:Authoring booksWriting articles or blogsCreating webinars or presentations.3. Giving a PresentationThere are many occasions like PMI chapter event, professional conference, or within your organisation where you can give a formal presentation to others and share the knowledge which you have gained during your PMP® certification journey. You can earn 1 PDU by spending 1 hour in giving a presentation.4. Share KnowledgeYou can help others learn and grow by sharing your domain knowledge. You also contribute towards the growth of the profession and enhance the practices that are essential to your certified role by sharing your skills with others. Even if you are involving yourself in mentoring, teaching, or applying your subject matter knowledge towards an activity, but others will be benefited from your experience and perspective.5. VolunteerPMI has an active community of thousands of volunteers who offer their support to the Institute and the profession by working in a wide range of roles. You can earn PDUs to maintain your PMP® certification by offering your domain-related services as a volunteer to non-employer or non-client organisations. 1 hour of volunteer service is equivalent to 1 PDU.Volunteering options offered by PMIAre you trying to figure out a volunteering option to meet your CCR? There are numerous ways in which you can advance your career by contributing to PMI as a volunteer. These volunteering opportunities encompass a wide range of skills, interests, and goals.PMI helps you to search for volunteering opportunity easily around the world with the help of their Volunteer Relationship Management System (VRMS). So, pick the right opportunity for you from the following options:PMI Board of DirectorsBoard Support CommitteesPMI Educational Foundation (PMIEF)Member Advisory Groups (MAGs)Region MentorsStandards CommitteesExam Development VolunteersPMI Awards EvaluatorsPresenters at PMI EventsPMI Publication Reviewers (Knowledge Shelf, Bookstore reviewers, Project Management Journal® reviewers)Chapter Volunteers.PMI Local ChaptersBecome a member of your local PMI Chapter by paying a registration fee of$129 and a joining fee of \$10 and take advantage of the knowledge and networking offered by it. The benefits of joining the local PMI Chapter are as follows:1. Get access to the inner circle of local Project ManagersGrow your network with the other professionals who are driving the field of project management forward. The group might vary from those who have just started to those at the top of their careers.2. Get easy access to exclusive events and seminarsAttend the chapter meetups and special guest talks to learn about the approach to facing new challenges from the professionals who have overcome similar obstacles in the past.3. Discover relevant job opportunitiesGet an opportunity to build your network with the local Project Management Professionals and get connections in companies located in your area to find new opportunities.To wrap it upEvery professional has got different goals and interests, in the same way, there are different types of requirements across various industries. As you have read above, PMI offers a plethora of opportunity to you in order to meet the CCR program, enabling you to explore new options and new avenues.You can choose the opportunities from education and giving back to the profession that suits you the best in order to fulfill the 60 PDU requirements to maintain your PMP® certification. You can read more about the Continuing Certification Requirements (CCR) by clicking here. Going further, getting a PMI membership exposes you to multiple opportunities which you can take in order to meet your CCR requirements.
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How Do I Maintain My PMP® Certification?

Did you get PMP® certified? Congratulations! It i... Read More