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Risk Management – Part 3

PROJECT RISK MANAGEMENT This is the third and last in the series of articles on RISK Management. After discussing 4 of the 6 processes, we are left with Plan Risk Responses and Control Risks now. The earlier 4 processes were in planning part and the remaining two now are in action part of risk management process. Let us start looking...

Stake Holder Management – Part 2

Stakeholder Management - II We have covered Identifying Stakeholders and Planning Stakeholder Engagement in previous article on stakeholder management. Now, we are left with Manage Stakeholder Engagement (the execution of the planning part we completed before) and Control Stakeholder engagement (The process of verifying the engagement process and revising it or improving it whenever necessary). As soon as you hear about...

Stake Holder Management – Part 1

Stakeholder Management - I Who is a stakeholder? Any person or group or an organization, which is effected or impacted by the project directly or indirectly, positively or negatively is called as stake holder. Even with a slightest interest in the project or on its outcome, anyone and everyone can be taken as a stakeholder of the project. Project stakeholders are individuals,...

Procurement Management – Part 2

Control Procurement Control Procurements is the process of managing procurement relationships, monitoring contract performance, and making changes and corrections as needed. Both the buyer and the seller will administer the procurement contract for similar purposes. Each must ensure that both parties meet their contractual obligations and that their own legal rights are protected. The Administer Procurements process ensures that the...

Procurement Management – Part 1

Project Procurement Management Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. The organization can be either the buyer or seller of the products, services, or results of a project. Project Procurement Management includes the contract management and change control processes required to develop and administer contracts or purchase...

Risk Management – Part 2

PROJECT RISK MANAGEMENT In our previous article we have seen plan risk management and Identify risks processes. The outputs of those processes are risk management plan and risk register. Perform Qualitative Risk Analysis Next process in line is Perform Qualitative Risk Analysis in which identified risks are prioritized for further analysis or auctioning by accessing their probability and impact. Once this process...

Risk Management – Part 1

PROJECT RISK MANAGEMENT If you wish to achieve success in life you need to take risks. Is that what we have heard many times? What does the risk mean here? Is it something to afraid? Is it something that will result in unseen incidents? I should say YES to all the above questions. For instance think risk as challenge. If...

Communication Management – Part 2

Project Communication Management Manage communications Process of Creating, Collecting, Storing, retrieving and disposition of information in accordance to the communication management plan is what we do in Manage Communication process. Inputs Tools & Techniques Outputs Communication Management Plan Work Performance reports Enterprise environmental data Organization process assets Communication technology Communication Model Communication methods Information management system Performance reporting Project communications Project Management plan updates Project documents updates Organizational process asset updates As we need to follow communication management...

Communication Management – Part 1

COMMUNICATIONS MANAGEMENT: Project Communications Management includes the process required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information. Communication is what we do throughout the day, what is there to manage? This is a very common question we get when we hear “Communication Management” term. One point to remember here is it is not...

Human Resource Management – Part 2

In Human Resource Management – 1, we have discussed Plan Human Resource Management & Acquire Project Team. Next we will discuss “Develop Project Team” and “Manage Project Team”. Develop Project Team Develop Project Team is the process of improving the competencies, team interaction, and the overall team environment to enhance project performance. Teamwork is a critical factor for project success, and developing...

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