Individual Risk Management

Individual Risk Management
Individual Risk Management
Craig Foster
CPMGT/303
March 17, 2014
Dr. Daryoush Tehranchi
Individual Risk Management The objective of risk management is to develop response actions to
minimize the impact of possible negative events during every phase of a project. The process also
works to increase the impact of the positive events and mitigate the problems associated with
making changes (Project Management Institute, © 2013). The risks in many projects are
multifaceted in nature because the positive impact created at one stage of a project, could have dire
consequences at another. For example, occasionally in construction projects, floor slabs will have
design defects that will not properly drain and eliminate ... Show more content on Helpwriting.net ...
The RMP delivers four main objectives significant to the project, by categorizing the risk into
different levels for each phase and department. The risk categorization provides the probability and
impact of the risk to gain a better understanding of the impact on the project in terms that are
explicit to each, department, or stakeholder at every stage. The risk management matrix has four
primary project objectives defining a plan to address cost, time, scope, and quality. The risk
management during the initial planning stages is performed the same way with adjusted tolerances
because of limited information. (Project Management Institute, © 2013). Provided below is a Risk
Breakdown Structure (RBS) as defined in the; A Guide to the Project Management Body of
Knowledge (PMBOK® Guide). The RBS is performed on the information in the course syllabus ".
Your organization has decided that to be successful in the global economy it must expand its supply
base into China" (The Apollo Group Inc., 2010). Project Risks: Internal risks of compatibility with
stakeholders and foreign lending institutions. The technical capabilitites and servicing capacity for
optimum production levels. External Risks: Implmenting organizational objectives in bureaucratic
ccontext of host country and meet essential program operations. Risk
... Get more on HelpWriting.net ...

Critical Analysis of the Clift Village Shopping Centre...
Critical analysis of the Clift Village Shopping Centre Project management plan
1/31/2011
Executive Summary
This paper has been prepared to critical analyse the project management plan (PMP) of the Clift
Project Village shopping centre barrier guard upgrade. The shopping centre multistorey car park was
audited by its public liability insurer and they deemed the perimeter barrier fence not compliant to
Australia standards and a danger to the public, the fence had to be replaced with a complaint fence.
TJA was approached to fix the problem which it completed with an Ingal anti–climb system with an
integrated car barrier.
The paper discuss the need and justification of the PMP for this construction project, areas that are
... Show more content on Helpwriting.net ...
If a car were to break through the fence it may result in a serious injury of death to the vehicle
occupants and/ or pedestrians, as well as significant property damage"(Chubb, 2010) The insurer
recommended that a compliant barrier system be installed to bring it up to Australian and QBSA
standards.
TJA was approached by Ingal civil who manufactures the anti–climb barrier system and asked if we
would take on the project, from that point TZM dealt with the client.
The anti–climb barrier system is a Armco barrier with a integrated handrail and mesh fill built into
the system, which prevents a person from climbing over the barrier or stops a vehicle penetrating the
barrier, which is ideal for this situation.
3.0 Project Management plan
3.1 Nature of venture
This section will justify that the Clift project is a project and not an operation, also how the
management of the project is effect by this.
The definition of a project is "a temporary endeavour undertaken to create a unique product or
service. Temporary means every project has a definite beginning and an end. Unique means that the
product or service is different in some distinguishing way from all other products or services".
(Project Management Institute., 2008)
The Clift shopping centre project is a project in that it is a one off work package that will never be
completed on that site again in a identical process, for example if a section of barrier guard had to be
pulled down every six months and then put

Analyzing The Root Causes Of Risk Mismanagement
Analyzing the Root Causes of Risk Mismanagement
Introduction
According to Kendrick (2009, p. 17), roughly 75 percent of projects fail when project teams refuse
to adopt some form of risk monitoring and control. Ken Black (1996), an associate professor of
decision sciences, published an article listing twelve factors that contribute to the failure of projects.
The article highlighted risks, as one of the factors that can negatively affect project constraints
(Black, 1996). A risk, as defined by Kendrick (2009, p. 1), is an event or series of events that occur
due to the level of uncertainty associated with the project outcome. If a risk occurs, it threatens the
success of a project because it can halt or prolong the project's constraints. ... Show more content on
Helpwriting.net ...
Novice team members mistakenly assume that risks will not occur (Jutte, n.d.). Likewise, novice
team members also associate the implementation of risk management with adding extra work to an
already time poor schedule without any added benefits (Kendrick, 2009, p. 21). Too, novice team
members have no frame of reference for estimating the probability of impact of risk occurrences and
may adopt ineffective risk response strategies thereby increasing the impacts of risk occurrences.
Unlike novice team members, veteran team members understand the benefits of risk management
and draw upon their experience with past projects to mitigate risks (Awati, 2011). However, veteran
team members assert their individual perception when proposing approaches to risk management
based on their personal experiences (Awati, 2011). According to Awati (2009), subjective judgments
such as of illusion of control give veteran team members a false sense of security with the respect to
the degree of control they have over minimizing or avoiding a risk. Likewise, groupthink is an
example of veteran team members intimidating less experienced colleagues into agreeing with an
approach because they present evidence that contradicts their resolution (Awati, 2009). Thus, all
cognitive biases contain some degree of error in perception and can lead to project failure.
Project Changes During the course of a project, change is an inevitable certainty and

Project Management and Project Management It
Examination Paper: Project Management
IIBM Institute of Business Management Examination Paper Project Management Section A:
Objective Type (30 marks) This section consists of multiple choices questions and short answer type
questions. Answer all the questions. Part One questions carry 1 mark each and Part Two questions
carry 5 marks each. Part One: Multiple choices: 1. During _________formal tools and techniques
were developed to help and manage large complex projects. a. 1950s b. 1980s c. 1920s d. 1990s 2.
PERT stands for: a. Program Evaluation and Reverse Technique b. Progress Evaluation and Review
Technique c. Program Evaluation and Review Technique d. None of the above 3. The most basic
model of any Operating System is: a. ... Show more content on Helpwriting.net ...
They decided to use a table to show the risk event, the likelihood, the severity and by multiplying
the two providing a risk priority number (RPN). This would the allow ranking of the risk elements.
For the three highest ranked elements, the group then generates a mitigation process with someone
in the group taking ownership of that process. As can be seen, the top three risks were identified and
mitigation tasks put in place to either prevent the risk event happening or to reduce its effect. The
initials of the 'owners' of that risk in the last column show who has agreed to monitor that set of
events and ensure that the mitigation is put into place before the project suffers from that event
occurring. Questions: 1. What further methods could have been used to generate ideas for the
identification part of the risk process? 2. What should happen as the project progresses to manage
risk?
3
IIBM Institute of Business Management
Examination Paper: Project Management Caselet 2 Fast–track Product Redevelopment at Instron
Background Instron designs and manufactures machines for testing the properties of all types of
material. One particular plastic testing instrument has been selling around 250 units per year
worldwide. In 1992 at the height of the recession, with margins being squeezed and sales volume
dropping, Instron decided to redesign the instrument to reduce its cost

Abstract. Project Management Is An Essential Tool Which
Abstract
Project management is an essential tool which benefits businesses. There are numerous positions
relating to it, but is it enough to categorize it as a profession? The introduction will provide some
essential definition and remind us what is the project management about. Then, I will develop two
opposed point of view on this matter, the first one answering negatively and the second one
positively to the question asked above. The outlook will be defined progressively by providing some
elements required to be a project management practitioner, while keeping in mind the two current of
thoughts.
Introduction
Project management is the discipline of initiating, planning, executing, controlling, and closing the
work done by a team to ... Show more content on Helpwriting.net ...
In 2008, the United Kingdom's Association for Project Management (APM), was denied by the
Privy Council for the application of the Royal Chartered status, an act that would recognize project
management as a legal profession. This rejection poses a greater problem: Is it really true that
project management is a profession that that be compared to teaching or medicine?
Are the previously cited organizations biased in their assumptions?
When technical people involved as project managers are asked this question, most of them will
certainly answer by saying that they might not describe themselves as project managers. For them,
project management is a methodology they will use to deliver their projects.
A basketball player who is highly competent and earning a living at what most do for a hobby will
be entitled as a professional. However, meeting these criteria does not mean than basketball is a
profession although such a player might call it his profession, his job.
In my opinion this is a false logic, project management is not a profession but a process as it scored
less than 34 out of a possible 100 points when assessed against 22 attributes defined by Zwerman
and Thomas et al during a study funded in part by PMI and published in 2004. They reached the
conclusion that project management is not a profession and will likely not be one in the foreseeable
future.
To become a profession, one must be able to define and control the body of knowledge. The

Project Estimating Paper
Project Estimating
Project Estimating and Control Techniques
CPMGT/303
July 12, 2014
Project Estimating
Cost management planning happens early on in the project planning phase and should be refined
throughout the project's life cycle as additional details become available. The project's cost
management plan sets the framework for all of the project's cost management processes. The
accuracy of estimating a project's cost is essential to the successful or failure of the project. This
makes choosing the right estimating techniques crucial for a project. Expert judgment provides an
insight to past experiences, environments, and historical information from past similar projects. This
information is compared and analyzed against ... Show more content on Helpwriting.net ...
Bottom–up estimating can be used when individual work packages or activity segments of the
project need to be estimated. Bottom–up estimating takes the detailed costs and then rolls those cost
details up to a higher level activity segment or work package (Project Management Institute, 2008).
An example of this would be estimating all the resources and facility costs and rolling the
information up into the overall project estimate.
Three–point estimating takes a single–point activity and use probability distribution to approximate
what can happen in the future. This technique takes uncertainties and risks into consideration and is
considered a more accurate technique as the three points clarify and determine the risk level or range
of uncertainty for the cost estimate (Project Management Institute, 2008).
Determining the most appropriate estimating technique for the project is important. Choosing the
right technique depends on the amount of information you have from past similar projects, and the
information you have regarding the current project, such as scope baseline, project schedule, human
resource plan, risk register, enterprise environmental factors, and organizational process assets
(Project Management Institute, 2008). It is also important to know how much time and money the

Organizational Project Management
Contents Acknowledgement 1 1. Introduction 3 2. Organizational project management 4 3. OPM3
Model 5 3.1. Primary physical parts of the standard 5 3.2. OPM3 Stages 6 4. How does the OPM3
work? 7 5. Benefits of OPM3 to the organization 8 6. What kind of commitment is required to
launch OPM3 in an organization? 8 7. Importance of OPM3 to the project management profession 9
8. Summary 10 9. References 11
1. Introduction
Successful implementation of a new organizational strategy can turn a good organization into a great
one. Conversely, strategies that fail or generate poor results can quickly damage the organization's
reputation and brand, internally and externally. Effective strategy execution is the ... Show more
content on Helpwriting.net ...
ii. The self ASSESSMENT element is an interactive database tool that lets organizations evaluate
their current situation and identify their areas in need of improvement should an organization
decided to embark on the path to higher maturity. iii. The IMPROVEMENT element will help map
out the steps needed to achieve their goals.
* KNOWLEDGE element which drives Assessment * ASSESSMENT element which in turn drives
Improvement * IMPROVEMENT element. 5. Benefits of OPM3 to the organization
I. It bridges the gap between strategy and individual project. II. It provides a comprehensive body of
knowledge regarding what constitutes best practices in organizational project management. III. By
using OPM3, an organization can determine exactly which organizational project management best
practices and capabilities it does and does not have. IV. If the organization decides to pursue
improvements, OPM3 provides guidance on prioritizing and planning.
6. What kind of commitment is required to launch OPM3 in an organization?
The process of applying OPM3 in an organization is difficult to quantify. It depends on factors such
as the size, complexity and initial maturity of the organization, the thoroughness of the assessment,
the nature of the organization's strategic objectives, and the level of resources available also impact
any estimate.

Construction Of Construction Projects Project Manager
1. Construction is one of the major industry which involves a huge amount of capital and requires
human resources, equipment's, tools, materials and proper technique (Project Management Institute,
2013). In construction projects project manager is required to fulfil the needs of the client in terms
of terms of cost, timely delivery and quality. Project manager is the one who identifies the various
processes required to carry the project and is responsible for the various activities, relative
dependency among the various activities to carry out the process and thus, the construction (Project
Management Institute, 2004). Tinnirello (1999) points out that in order to complete the project on
time and in definite budget a project manager must keep track on all the activities and actual
processes. A study by Gregory (2011) shows that to fulfil the expectations and needs of the client
project manager must apply proper skills, techniques and knowledge in the project. According to
Sharlett (2009), the manner or way in which project manager supervise the project has the direct
influence on the result of the project. To get a utmost benefit for the money invested in a project, the
project manager must have a reliable team consisting of skilled human resources and the project
manager shall work as a team leader to carry out the project within the cost limit. (Herkeens G.R,
second edition, 2014)
2. To get a desired service or result in a construction project a project manager and

Analysis Of Ansari X Price International Hotel Project
The other important aspect will be the methodology of quantify research, that will be used to reduce
the different project failures and also schedule overruns while using statistical attributes that will
help you monitor the project during its lifecycle, and also help you measure any type of data to
formulate the different facts within the project and the parameters of the project scope, this will help
with the project. The analysis can help you in many different ways, it could help you identify the
risk or the different patterns that could cause issues when you see the schedule management index.
This project will use the different time frames or duration by the different week as we will see in the
Gantt chart, will help with the goal we have on building the Ansari X price International hotel
Project that is set for 6 SCHEDULE MANAGEMENT APPROACH The project schedule for Ansari
X price International hotel will be set up an created by using MS project or Excel starting with the
different deliverables that have been identified in the projects Work Breakdown Structure (WBS).
The activity definition will identify, the different work packages that have been set up, that have
been performed by completing each deliverable. Activity sequencing will be set up and be used to
determine the order of work packages and also assign the relationship that you will see between the
project activities. We also see that in the resources allocation matrix (ram) will show the
relationships of

Project Management : Enterprise Environment Factors
III. Enterprise Environment Factors
Circumstances that are outside the purview of the project team which affects the project are
considered "Enterprise Environment Factors". They are abundant and have the potential to affect the
project adversely or constructively. The environmental factor for the "Barracks 2499 Wi–Fi
Installation" project in Appendix A. is the end users. The Marines and Sailors assumed participation
in using the Wi–Fi service once completed is a driving factor and is considered an organizational
culture. Government regulations and infrastructures are also among the various enterprise
environment factors that are considered inputs to the projects planning process (PMBOK, 2013).
IV. Organizational Process Assets
This area of the Plan Project Management process consists of all the collective operating practices
of an organization. The organizational process assets are a combination of practices, artifacts, and
knowledge from all areas of the organization that was involved in a project (PMBOK, 2013). The
organization process assets should be treated as a living document that requires continuous updates
and editing for future project managers to pull from. Lessons learn not only save time and money,
but it also increases the success rate of a project.
V. Tools and Techniques
Applying the necessary tools and techniques to manage stakeholders is an undertaking that requires
constant engagement at each stage of the project. Using expert judgement a project

Project Mgt
Discussion Question Short Essay
Quantum Bank Case Study, pg 73
Who would you recommend that Stacey Thomas select to serve as project manager? Why?
What are the characteristics of the candidates that you would attribute to a competent project
manager?
What important skills do you think the candidates are lacking? Why are they important?
Organizational Project Management or OPM is where an organization's culture, style, and structure
influence how its projects are performed & managed by accomplishing its purpose throughout its
project lifecycle by how it is conducted and progress (Institute 20).
The competencies of a manager are knowledge, performance, and personal. In (Institute 17) defines
it as follows: ... Show more content on Helpwriting.net ...
The PM's wants are simple–the individual in the organization who is most competent on the specific
task to be accomplished. Let's hope that he doesn't lack enthusiasm for cooperation because Andy
has little knowledge of routine work (Jr. 2010).
References:
Jr., Samuel J. M. Project Management in Practice, 4th Edition. John Wiley & Sons, 10/2010.
VitalBook file.
Institute, Project M. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) –
Fifth Edition, 5th Edition. PMI, 01/2013. VitalBook

Project Management Body Of Knowledge Is An American...
A Methodology is a model which the managers employ in the design, implementation and
achievement of their project objectives. It contains the guidelines required for managing a project.
With the exceptional growth in technology, the present day projects are often large and complex
involving a significant risk. So, a Project Management Methodology enables the delivery
organization to handle these projects comprehensively, systematically and in an integrated manner,
which results in strategic, tactical and operational benefits. Strategic Benefits: The methodology
provides confidence to customers, partners and senior management that the delivery organization
can manage and deliver the projects with immense profits. Tactical Benefits: The method allows
off–site managers to have confidence in recognizing the problems early and solving them.
Operational Benefits: Methodology acts like a key using which the delivery organizations, empower
the project team to accomplish the right task, the right way. Project Management Body of
Knowledge is an American National Standard Institute (ANSI) standard first published by the
Project Management Institute (PMI) as a white paper in 1983. It is a guide that describes best
practices used to manage a project efficiently and acts as a foundation for a sound project
management methodology, yet it cannot be a method without adaptation. Various organizations
adopt several approaches or guides, in

Project And Program Solutions Specialist
COVER PAGE
I am a business focused IT project and program solutions specialist.
I manage medium to large teams of technical specialists, support personnel and business consultants
(both on and off shore models). I have implemented enterprise wide applications (ERP's) including
major customised software development for a diverse group of industries including utilities and
local government organisations. These included business processes changes and related change
management activities.
I have international experience in delivering strategic programs of projects and services. Projects
span the full lifecycle from Initial business analysis until project handover to support and achieve
both local and cross continental benefits.
My strengths include:
IT project and program management (extended project and program lifecycles),
Managing teams (technical, service delivery, service support and business),
IT department service delivery and support management.
I have the following relevant education and qualifications:
MBA General (Masters in Business Administration – in progress),
IT Diploma (structured programming),
Effective negotiation certification,
ITIL V3 and V2 (Expert level) certifications,
PMP (Project Management Professional),
PRINCE2 Practioner,
Advanced Information technology project management certificate.
I offer solid experience in the following
Program and project management,
Business and process analysis,
Product management

Importance Of Project Management
Importance of Project Management
In this era of globalisation, project management has been widely utilized to enhance the competitive
edge of an organisation. Project management serves as a platform for many companies to achieve
organizational excellence and success.
Project management is defined to be an application of skills, knowledge and techniques to well–
planned project activities to fulfil various project requirements. Project Management Institute (PMI)
emphasizes the need to integrate several project management processes such as initiating, planning,
executing, monitoring and controlling as well as closing to ensure project success, which in turn,
delivers business results in today's competitive and hectic global economic environment. ... Show
more content on Helpwriting.net ...
PMO is defined to be an entity that acts as a centralized management body to provide project
management support functions, manage shared resources, identify and develop project management
methodology, offer coaching and mentoring as well as managing project management standards and
policies. (Project Management Institue (PMI), 2013)
The Boston Consulting Group BCG (2013) defines four clearly linked PMO imperatives (focus on
critical initiatives, institute smart and simple processes, foster talent and capabilities, encourage a
culture of change). A strategically aligned PMO supports business by prioritising issues and
provides guidelines to project managers to execute projects more efficiently (BCG The Boston
Consulting Group; PMI, 2013)
PMO ensures that the organisation invests in projects and programs that will ultimately drive its
strategic vision and goals. (Anon., 2014). Greg Wood, a PMI Global Executive Council member,
asserts that strong PMO delivers two distinct areas improvement to the organisation. It assists
organisations in choosing the right projects to deliver and delivering projects correctly (Anon.,
2014).
Project Management manages risks

Project Management Institute : A Project
As stated by to the Project Management Institute, "A project is a temporary process which has a
predetermined beginning and end according to the requirement, and therefore has a set of defined
scope and resources. A project is unique as it is not a routine operation. It is rather a specific set of
procedures and processes designed to accomplish the targeted goal" (Project Management institute,
n.d.). A project is not a continuous or a permanent job which needs continuous work put into it. It is,
therefore, different and separated from the daily operation of a company. Since a project is an
undertaking of a company to attain some special assignments and tasks, it can be of different
financial and operational sizes. Some projects can ... Show more content on Helpwriting.net ...
A project team generally consists of people from different departments and backgrounds who are
chosen by the project manager and/or senior management for the project's successful completion.
The project manager, therefore, needs to be someone who has a variety of key soft skills and hard
skills to lead the project with the help of the project team and complete it within the allocated time
and budget.
It is very important for a project manager to have a planned route to follow each step of the project.
"By failing to prepare, you are preparing to fail" (Benjamin Franklin, n.d.). This saying by Benjamin
Franklin should be the key mantra for every project manager. Lack of planning and preparation
means a lack of planned route for the project team to follow. This is a perfect recipe for the failure of
a project. Therefore, planning and preparing for every step of the project is very important. A
planned project has a life cycle of its own. "Project life cycle is the series of phases that a project
goes through from its initiation to its closure' (Timothy J. Kloppenborg, 2014). Thus, a project has
five phases – project initiation, project planning, project execution, project monitoring and control,
and project closure. All of these five phases are very important for the successful completion of a
project.
Success of

Project Management Students Attending Itt Technical Institute
Currently, all students attending ITT Technical Institute are learning some sort of Project
Management through specific courses that primarily teach only the theory behind Project
Management. The students attending ITT Technical Institute would greatly benefit from hearing
from Project Managers and Engineers first hand on what to expect in the field in which the students
are studying, and to speak on personal events that they have been through on the job and how the
importance of project management helped the speakers out in those events. A faculty member has
brought the idea to the Chair of the Business Program, that it would be a great idea to start a Project
Management Student Group and shed more light and visibility around the project management
degree within the school. Having the project management student group set up in the school and
bringing in guest speakers will better prepare the students for the career ahead, after graduating from
ITT Technical Institute. The Chair of Business has approved the idea and plan to start the project
management student group has been proposed.
Constraints:
After reviewing the project management student group request, a risk assessment was used to
determine all of the projects risks and constraints. One of the main project constraints is the lack of
budgeting; the project was allotted no budget to get the ball rolling and no budget to keep the
program running. Without a solid number for a budget, the project manager will be

Analysis Of Wembley Stadium Project Management
A project is a temporary endeavour that creates a unique result. Time, budget, resources, and
performance specifications, to meet requirements made by stakeholders, limit a project (Project
Management Institute, 2013, pg.3). Project management is the application of tools, techniques, and
knowledge to help achieve the three main constraints of scope, cost and time (Project Management
Institute, 2013, pg.5). This applies managerial process and gives project managers the opportunity to
make a project successful. However, there are still numbers of project failures both big and small
projects. This failure does not only affect finances but also demoralizes employees who have
laboured diligently to complete the work. The case of Wembley Stadium project failure will be
analyzed in this paper to illustrate project management difficulties a project can encounter if
appropriate tools and techniques are not successfully developed, implemented, and evaluated within
the project management processes. The major problems concerning the Wembley Stadium project
were scope, time, cost, quality, and stakeholder issues (Carter, 2002). However, this paper would be
focusing on scope, time and cost issues. The format of this paper will include the project analysis,
which will provide brief description of the Wembley stadium project, and main reasons why the
project failed. This will be followed by the analysis of how the issue of the project failure is related
to project management knowledge

The Importance Of Project Management For The Business World
Introduction With aspiration of becoming a project manager, the information pertained throughout
this course served as a great guide to being an effective project manager. Being effective is the best
route in ensuring a successful project. It is critical that the project is managed effective from the
beginning of the business project. While the success of a project is never guaranteed, project
managers have better chances with implementing the tools discussed from this course. I will first
discuss the importance of project management to the business world. In addition, the different
components of project management such as project life–cycle management, project organizations,
team building, work breakdown structure and the use of project management software are some of
the implement to be discussed as well. The software comes with the benefits that can be provided to
a project management organization. Many organizations and industries use project management as a
guide to effectively manage projects. Those industries include construction, Department of Defense
contractors, non–profit organizations and governmental entities (Larson & Gray, 2014). Surveys
have been used from governments and industries to emphasize the importance of project
management. The Economist Intelligence report argued that, "80 percent of global executives
believed having project management as a core competency helped them remain competitive during
the recession" (Project Management Institute,

Critical Analysis of the Clift Village Shopping Centre...
Critical analysis of the Clift Village Shopping Centre Project management plan
1/31/2011
Executive Summary
This paper has been prepared to critical analyse the project management plan (PMP) of the Clift
Project Village shopping centre barrier guard upgrade. The shopping centre multistorey car park was
audited by its public liability insurer and they deemed the perimeter barrier fence not compliant to
Australia standards and a danger to the public, the fence had to be replaced with a complaint fence.
TJA Industries was approached to fix the problem which it completed with an Ingal anti–climb
system with an integrated car barrier.
The paper discuss the need and justification of the PMP for this construction project, areas that ...
Show more content on Helpwriting.net ...
Table of Contents
Executive Summary 8
Introduction 10
Project Background 10
3.0 Project Management plan 11
3.1 Nature of venture 11
3.2 Nature and purpose of the chosen PMP 11
3.3 Audience of the PMP 11
3.4 Structure of the PMP 12
4.0 Contents of the PMP sections 12
Conclusions 14
Recommendations 14
List of references 15
Figure 1 Primavera example(Primavera, 1999) 9
List of Appendixes (all appendixes are attached on separate files)
Appendix 1 The Clift Village Project Plan 2010
Appendix 2 The Clift Village Project (MS Projects file)
Introduction
This paper has been prepared to critically analyse the project management plan (PMP) of the Clift

Village shopping centre barrier guard upgrade project. The definition of a project plan is a
"management summary document that gives the essentials of a specific project is teams of it
objectives, justification, and how the objectives are to be achieved. It describes how major activities
of the project management function are to be accomplished, and describes method of overall project
control, the project plan evolves through successive stages of the planning process".(Project
Management Institute., 2008) The paper looks into the structure and contents of the Clift's PMP by
indentifying if it is a true project, this is followed by a analysis of the audience of the PMP and why
they need to sight this PMP, the final section of the paper is a discussion of the major functions of
the PMP and why this

Theory Of Constraint Technique Is The Elimination Of Idle...
Another Theory of Constraint technique is the elimination of idle time. For whatever reason, idle
time is also present in bottleneck resources. For instance, all employees may have a break at the
same time leading to no performance during the bottleneck process. Short breaks may have a high
opportunity costs since the bottleneck have a constraint effect on the entire plant output. Thus,
elimination of such idle time may improve a factory 's output. As a TOC technique, scheduling and
sequencing involve the sequences can improve factory 's output (Khan, n.d.). Quality inspection at
this point is vital after the products have processed from a bottleneck resource, but stopping the
production of a product due to poor quality implies the time ... Show more content on
Helpwriting.net ...
Goldratt indicated that there is always a constraint and that the fourth step is the centre for
continuous improvement. Goldratt, indicated that an allusion of no constraints would be an
indication of infinite performance which is not possible in real life. Under normal circumstance
project managers get more resources after realising that there is a resource constraint in the system
(Srinivasan, 2012). But the TOC indicates that a project manager should strive to achieve the highest
performance from the available resources before getting additional constraint resources. It is evident
that the moment that a constraint is elevated adequately, it stops to be a constraint and the bottleneck
changes within the system (Lau & Kong, n.d.). TOC also uses a thinking process, this is an
administration tool used for understanding where the organisation is positioned, what is seeks to be
and how it plans to get there. TP is the tool within the TOC framework that elevates it from a
production principle into a management technique (Nieminen, 2014). The thinking process has three
main steps that are designed to help an organisation achieve their goal, the first step is meant

Team Building, Leadership And Motivation Essay
Team building, Leadership and Motivation
Building the right team with the most appropriate leadership and striving to keep the team motivated
cannot be over–estimated in project management. This stage is initiated from the planning stage.
Unlike larger scaled projects that teams are to be built around the project, our team was built before
defining the project, we therefore had to tap into the strengths of each group member. This was
achieved by gauging the types of contributions made by members during the planning stage, making
it easy to identify what roles specific individuals are best suited to carry out. More so, significant
leadership qualities were identified in individuals within the group. These included, taking
responsibility for initiating work towards the project, taking responsibility of gathering all team
members to initial meetings as well natural co–ordination of group activities.
According to The Management Study guide, "Team building refers to the various activities
undertaken to motivate the team members and increase the overall performance of the team"
(Management Study Guide 2016). The dynamics of building and maintaining a strong team are
extremely vital as the knowledge and expertise each teammate brings to the table will be beneficial,
ultimately. To build momentum and a healthy work relationship within the team, we held several
team meets and went to lunch and/or dinner occasionally. This phase of project management carries
through to the completion

Symcor
In the Healthcare Operations Management course we previously finished, it explored the aspects of
the principles of Lean management and quality improvement. This helped me better understand the
relationship of efficient management and success relating to what we are learning about project
management. Managers have noticed the importance to following project management methods to
reduce costs and improve success rates. From observing and navigating through the two websites, I
learned that project management is a complex process and extremely important for success for any
business. One method that sticks out on the success of project management is the Six Sigma method.
The use of the Six Sigma approach is widely used to improve quality and many ... Show more
Citibank's goal was to improve operations globally through reduction and process time while
increasing customer satisfaction and loyalty. Citibank reached out to Motorola University for a wide
Six Sigma training for its employees. Motorola University trained Citibank employees on both cycle
time reduction and cross–functional process mapping to reduce wasteful processing time. It helped
tract defects and document results by teaching team members to identify appropriate metrics and
solve any issues discovered during the process. Employees built rapport and worked well together
throughout the process, which made their professional responsibilities easier that benefited their
customers. This allowed eliminating redundancy and established a positive atmosphere for its
customers. Citibank efficiencies increased customer satisfaction and increased faster time to
introduce new products to its

Acquisition Process Analysis
The acquisition process is a vital component of project management. The requirements to ensure
successful execution of a project must be logical and efficient. It requires rigorous planning and
constant improvement of the project plan in order to discover and address any potential issues that
may interrupt the final delivery. Applying proven acquisition processes and principles will aid
Project Managers in creating an environment for success. The level of detail needed during the
refining activity is contingent upon several factors, such as the size and complexity of the project,
the proposed timeframe and the risks associated with the project (Career Education Corporation,
2013). My project proposal is the development of software that can ... Show more content on
Helpwriting.net ...
The decision to choose a product or service from an external supplier or vendor is referred to as
outsourcing. The decision to outsource a product or service is a significant one, and the Project
Manager must take into consideration additional costs, changes to schedule, deliverables, and value.
Furthermore, there are also other decision–making factors, such as the need for control over the
quality, proprietary technology, time constraints, and lack of expertise or limited capabilities of the
external supplier (Project Management Institute, 2013). From a financial and scheduling standpoint,
the decision is straightforward, as the success of the project is dependent on resources available
through outsourcing. Since the project is dependent on an outside entity, the Project Manager must
follow prudent measures to control the process. The first step in controlling the process is to
determine the appropriate acquisition process. One reliable process is known as Performance–Based
Acquisition (PBA). Performance Based Acquisition (PBA) is a results–oriented contracting method
that focuses on outputs, and is written so that payment or contract extension is based on measurable
performance. The main benefit of using PBA is to minimize costs, while improving vendor
performance (NIGP, 2012). It is paramount that diligent research and evaluation methods are used to
ensure that the best available vendor is

Explain The Makeup Of The Project Management Institute
Assignment 1.2
Explain the makeup of the Project Management Institute. Along with this list the reasons for the
creation of the Project Management Institute. What is the value of this organization?
Project management institute is a non–profit world–wide organization. It outlines the industry
standardization, education, membership, research and certification. They advances the careers,
matures the project management profession, and expands the organizational success through
standards, resources, academic research, professional development courses. They offer free
downloads of tools, templates, e–learning courses and offer free training sometimes. It offers the
services like standard development, publications, hosting conferences and finally offers
accreditations in the Project management. To attain the PMI credential, the member need to
document first about their education and experience as it's a requirement. PMI's advocacy for project
management is by its services. These certifications provide the competency and knowledge with a
PMP certification. The income and career opportunities for credential holders denote that employer
identify the value delivered by practitioner. The Project management institute research program
which is expensive but advances in the science, profession of project management. The organization
is governed by 15–member director board. Every PMI member maximum 5 directors for 3 years.
The daily PMI operations are managed by executive

Project Management Developing The Process
Running head: PROJECT MANANGEMENT DEVELOPING THE PROCESS 1
Project Management–Developing the Process
Natasha Bing
Grantham University
PROJECT MANANGEMENT DEVELOPING THE PROCESS 2
Abstract
Project management consists of primarily development and execution of an arrangement of
interconnected activities to ultimately receive one common project goal. When dealing with any
type of project, it the project managers responsibility to utilize a known project management process
(Project Management Institute, 2004). Within the project management tasks, they can be categorized
into five main procedures: initiation, planning, ... Show more content on Helpwriting.net ...
For J. Smith & Associates Firm's Project, the initiation process is essential to explain the project
purpose, client's requirements, etc. Furthermore, the key outputs within this process includes, but are
not limited to assigning the project manager, identifying those key stakeholders, completing the
business case, and getting signatures. Once the above criteria have been met, essentially it is
possible to go to planning process of the project.
Planning Process: Project planning process is very crucial for project management as this will be
considered the execution phase. During this process, the project plan is built up on by primarily
focusing on the project necessities such as, developing the project scope, implementing the schedule
and budget. However, as it correlates to the schedule and budget, the resources that are found are
then followed through and implemented in the project. Taking it the account of the effort and cost, it
is within this phase that is considered to be the most important phase. The overall planning phase is
also vital for J. Smith & Associates firm's project. For this project, project management prepares a
plan including project scope, budget and schedule. During the requirement scope, this is where
PROJECT MANANGEMENT DEVELOPING THE PROCESS 4 all the required equipment and
etc will be identified. Currently, it is estimated that a total cost

What Contracts Work Best For What Type Of A Contract Case...
What contracts work best for what type of projects?
Project Managers, inside the quest for successful project management and to create a cost powerful
quality support of their clients, could procure material and administrations all through venture
execution; or their administrations could likewise be gained by others, each inside or outside the
association, to deliver benefit in their claim to fame zones. For every situation, the objective is
accomplished by an agreement, composed or oral, which is a lawfully restricting device that
characterizes the connection, span, nature and degree of administration, explanation of work,
thought and terms and conditions. The technique by that the material/administrations gained is
acquisition or ... Show more content on Helpwriting.net ...
This is the reason cost reimbursable contracts are once in a while utilized. The cost reimbursable
contracts additionally separated into subcategories like Cost plus Fee (CPF), Cost plus Fixed Fee
(CPFF), Cost plus Incentive Fee (CPIF) and Cost plus Award Fee (CPAF). There is a third hybrid
sort ordinarily being used called Unit Price contract or time and materials contract. Fundamentally,
in unit value get, the vender will profit for consistently he dealt with the task like outsourcing in
settled value gets, the merchant and the purchaser makes concurrence on a settled cost for the
venture. For the most part, the purchaser is in generally safe classification on the grounds that the
cost or cost is as of now settled and the merchant has consented to the terms and conditions.
Essentially in unit value get, the vender will profit for consistently he dealt with the task like
freelancing and outsourcing.
Toward the end, project manager needs to choose what sort of agreement ought to be chosen on the
premise of undertaking he or she is taking care of and furthermore ought to know about the
legitimate parts of the task. The project manager ought to have the capacity to go out on a limb that
includes cost, asset portion and SLAs and ought to be in charge of the non–deviation of the specified
viewpoints above. The manager needs to settle on the merchant choice by confirming the foundation
of the customer as

Portfolio Management : Strategic Management
Portfolio Strategic Management
Introduction
Modern organisations devise a plan prior to the beginning of the project, in order to achieve desired
objectives. The collection of programs, projects, or objectives managed to achieve the desired
results is known as a portfolio, and the co–ordinated management of one or more portfolios in an
effort towards achieving the organization's objectives, is known as portfolio management (Project
Management Institute, 2013). Portfolio management plays a critical role in any major decisions
taken by the organization with respect to prioritizing and allocating personnel, and to evaluate the
effectiveness of the organizational strategies. Portfolio strategic management involves managing,
monitoring, and ... Show more content on Helpwriting.net ...
Morris and Pinto (2007), state that the wide range of markets that the global companies currently
invest in, requires them to rely on project teams working on different portfolios to strive towards the
achievement of the organizational objectives. With such daunting requirements to be met,
organizations depend on designing and executing portfolio strategic management techniques, with
an evaluation of the current challenges that the organization faces and an estimation of the expected
challenges that might arise in the future. Once such an evaluation has been carried out, the
organization can then come to an understanding and establish a roadmap towards achieving its
objectives.
Since portfolios form a part of the overall managerial initiatives, it is imperative that the portfolio
strategic management is devised in such a way that it supports the organizational plans. Morris and
Pinto (2007), suggest that an ineffective portfolio strategic management plan leads to executional
problems in monitoring and managing changes in organizational, which would eventually jeopardise
the efforts towards accomplishing desired goals. Strategy planning and strategy implementation are
two critical aspects of a portfolio strategic management plan, which define and pave the way
towards an uneventful completion of the project (Sanchez and Robert, 2010). As discussed earlier,
whilst

Project Management Institute ( Pmi )
2. Introduction
4.7 Definition of IT project management
According to the Project Management Institute (PMI), the world's leading association for project
management, it is the application of knowledge, skills and techniques to execute IT projects
effectively and efficiently. A well–planned and executed project, that meets its goals, time line and
budget is a strategic competency for organizations, enabling them to tie IT project results to business
goals – and thus, better compete in their markets.
4.8 Definition of Risk
A risk is the possibility of an event or condition that would have a negative impact on a project. A
risk can be nearly anything. It can be the upcoming performance of an activity that has never been
performed before ... Show more content on Helpwriting.net ...
It is important to understand that a risk is something that has previously been identified, or can be
planned for, and can be potentially mitigated. An unexpected emergency that arises on a project –
like a natural disaster or the unforeseen removal of a key team member – is not a risk because it was
not something that was a potential issue from the beginning. Having said that, attempting to develop
a full–blown Disaster Recover Plan or to plan for the potential loss and course of action for every
possible resource isn't a bad idea. It is just horribly impractical and has consistently proven to be a
waste of time and resources for large–duration projects.
According to PMTips.com, a popular online project management discussion forum; almost always, a
risk arises from an issue that is discovered or has previously been discussed by the project team and
then, overlooked.
4. Risk Management Process
There are six sequential steps in the risk management process.
1. Plan Risk Management
2. Identify Risk
3. Perform Qualitative Risk Management
4. Perform Quantitative Risk Management
5. Plan Risk Response

6. Control Risks
4.1 Plan Risk Management
Since risk management is so critical to a project's success, it is important to have a strong plan in
place before one begins. Equally important is making sure the project manager, sponsor, team,
customer and other stakeholders and experts are well informed about the project and all on the same
page.
At

Project Management Institute 's Online Certification Program
Today, many businesses use proven historical methods within their organizations to improve
strategic project management and problem solving techniques of employees in order for those
employees to work in a much more efficient manner to add value to the company. Next, I summarize
the Project Management Institute's online certification program that offers training and education to
volunteers and project managers around the world that strive to improve their skills in order to be
more beneficial to the organizations in which they work. Afterwards, a brief review of the history of
the TRIZ theory of problem solving is given. It explains where and why Genrich S. Altshuller
developed this detailed problem solving theory. Lastly, a brief ... Show more content on
Helpwriting.net ...
The company was founded in 1969, and is currently run by its President and CEO is Mark A.
Langley. Project Management Institute's website goes on to state that it provides professional
resources and research information access to over 700,000 active members, which includes
volunteers as well as credential holders in nearly every country around the world. The company is
recognized globally for its advocacy for project management training, education, and standards. Its
certification program boasts of the importance of certification leading to better trained professionals
that are able to earn top salaries. In addition, pmi.org (2016) states that certificate holders are able to
virtually work anywhere around the world and in any industry with project management procedures.
According to mazur.net (1996), TRIZ is an acronym for the Theory of Inventive Problem Solving.
Mazur.net (1996) went on to report that it was developed by Genrich S. Altshuller, who was born in
the Soviet Union in 1926 where he developed a curiosity for problem solving as he worked at his
job of helping inventors apply for invention patents. According to mazur.net (1996), there are
several laws in the theory of TRIZ. One law mentioned is the Law of Increasing Ideality, which
means that in the process of change, either a system performing certain functions becomes less
problematic, or it becomes capable of performing its functions better, or it performs more

Quantitative And Quantitative Risk Analysis
Quantitative Risk Analysis – Ebony The quantitative risk analysis is a method for further evaluating
the effect of proposed risks identified by project stakeholders and teams on the ability to achieve
project objectives (Heldman, 2013, p. 274). Project teams use methods including sensitivity analyses
or predictive modeling and simulation techniques to determine how the risk will affect project
progress (Heldman, 2013, pp. 276,278). During the quantitative analysis processes, each risk is rated
based on its characteristics using an impact scale (Project Management Institute, 2013, p. 318). The
analysis ratings are divided into two categories, probability and impact, whose product indicates the
risk's severity. Moreover, project teams use an impact scale to organize and prioritize risks in a
probability and impact matrix by project objective and impact categories (e.g. low, medium, high)
(Project Management Institute, 2013, p. 318). If the risk severity exceeds the stakeholder or project
team's risk tolerances, then the project teams can proactively monitor and mitigate risks based on
their priority (Project Management Institute, 2013, p. 318).
Private Financing. The Chunnel Tunnel project team and stakeholders failed to implement risk
management practices to mitigate the potential adverse impacts of its complex project financing.
Additionally, project sponsors, the British and France governments, solicited requests for proposals
(RFPs) although they were not financially

Project Manager 's Role On Construction Project Essay
Part 1. Investigation
1. The project manager plays a vital role on the construction project, from the very beginning of its
initiation and planning to execution, to completion and handing over the complete project to the
client. The project manager identifies and select the discrete processes to meet the project objective
and target, considering the constituting inputs and outputs for the process (Project Management
Institute, 2013). The project manager should be perceptive, well informed and should show
keenness to the project for its timely delivery, under the targeted cost, reliable and durable quality, as
projects are financial investments and a successful project gains the trust of client (Heerkens, 2014).
The project manager is required to perform better than the past, which would be achieved by
learning by doing. The project manager will not be able to complete the project without a team. The
project manager should make a team and take all the responsibility like a team leader for the
successful delivery of the project (Heerkens, 2014). Before starting the project, the project manager
should breakdown the project into measurable tasks, inter linking the tasks, allocating time to each
task, assigning tools, techniques, human resources to each tasks for its successful completion
(Tinnirello, 1999).
2. The project management processes consists of discrete and identifiable elements, and activities.
To carry out a successful construction project, the project manager need

A Professional Experience Of Working
I personally do not have a professional experience of working in an organization. However, while I
doing pursuing my bachelors degree I was the member for one the college club. When I first join the
club in 2013, the members were very ineffective with their communication. The club objective or
values were very unclear. There was lot of ambiguity within the roles of members. As described in
page 4 of the PMI' s Pulse of Profession report, there was a gap in understanding business benefits.
In our case was or the club some of the members did not have proper understanding about the goals,
and what kind of events/activities the club want to in the college As stated in page 4 of the report
that "Everyone needs to understand the long–term goal so they can know how they're contributing,
how they're making an impact" (Project Management Institute, 2013). There was a very poor
communication between the President and the members of the club. President was not effective in
delivering his expectation and strategies, and this later impacted on club events resulting in failure.
The gap was very evident, but no one took the ownership, not even the advisor whose role similar to
an executive sponsor or senior manager. If the gaps were identified then the club would have been
successful since the beginning.
Question 2: Which strategy or strategies would you recommend for your organization to adopt or to
continue? The most important was to recognize the gap, and then to communicate

“the Role of the Project Manager Is to Command and...
TOPIC: "The role of the Project Manager is to command and control." Critically discuss.
INTRODUCTION:
In management, command and control refers more generally to the maintenance of authority with
somewhat more distributed decision making [Command and Control Research Program 2011].
Being an effective project manager is among the most challenging jobs in the industry for two
reasons. First it requires management skills and abilities different from those required in a traditional
functional management position. Second, there are very few training opportunities available to those
moving into the project management.[ Thornberry, Neal E. October 1987]. This article addresses the
roles and responsibility of a project manager which ... Show more content on Helpwriting.net ...
Motivation is important because the individual 's performance will be enhanced when they have a
sense of pride and confidence in their work. [Fryer, 2004,]
HOW COMMAND CONTROL MANAGEMENT CAN RESULT INTO NEGATIVE EFFECT:
A manager–employee relationship is always a two way street. When a manager takes an
unnecessarily–authoritative or commanding position with a subordinate, the employee feels less
respected, and will have a decreased desire to contribute. As a result, information flow up to the
manager will be diminished. This will only reduce the manager's ability to make good decisions,
even to the point of reducing their apparent competence.
Under pressure managers are more likely to use a command and control style of leadership during a
recession, but a leadership expert claims that whatever the economic climate, it is the wrong way to
go about improving corporate performance. Scott Watson, managing director of UK and Bahrain
based Summit Consulting and Training, which has trained and supported more than 10,000
executives and managers in the UK and Arabian Gulf, says autocratic management styles stifle
creativity, undermine staff morale, destroy trust and ruin the potential for any worthwhile
collaboration to maximise

Mission Statement For Imt
About IMT Ghaziabad
Institute of Management Technology (IMT) is an Indian business school with its first and principal
campus situated in Ghaziabad, Uttar Pradesh. It has been consistently ranked amongst the top B–
schools of the country and in the year 2013, Careers360.com, one of India's largest student
community and career counselling platform, rated IMT Ghaziabad as one of the top 10 management
schools of India. Dr. Bibek Banerjee, who acquired his PhD and MS degree in the field of
Economics and Marketing from Krannert Graduate School of Management of Purdue University, is
the current Director of IMT Ghaziabad and academic mentor of IMT group of institutions (India).
The Governing Council of IMT Ghaziabad has Shri Kamal Nath as the President ... Show more
Courses Offered at IMT Ghaziabad
IMT Ghaziabad has been constantly evolving and revamping its' management education with the
idea of grooming leaders of tomorrow to manoeuvre the continually altering business landscape.
The curriculum offered at IMT Ghaziabad is continuously updated in order to meet the ever–
changing requirements of the industry.
The 2 years Post Graduate Diploma in Management courses offered at IMT Ghaziabad include:
1. Post Graduate Diploma in Management – Full Time (FT) [In this program, students are free to opt
for either Marketing, IT or HR as their specialization in the 2nd year]
2. Post Graduate Diploma in Management – Marketing
3. Post Graduate Diploma in Management – Finance
4. Post Graduate Diploma in Management – Dual Country Program [In this program, students
undergo their 1st year at the campus in

Project Management : Common Project Failures
Common Project Failures
Katina King
Brenau University Common Project failures
All project managers (PM) want their projects to meet all requirements in a timely and cost–
effective manner. However, project failure is common in project management because of undefined
uncertainties throughout the project. There are many reasons why projects fail and each project can
have its own set of complications. Sometimes it is a single incident, but more often than not, several
issues that develop over time during the project combined cause a failure. A good project manager
must be able to recognize indicators of failure and take action quickly. This paper will discuss six
common reasons for project failure and insight into how to avoid them by addressing them
immediately and efficiently.
Poor Planning
Planning is the most important part of any project. A project plan defines the objectives of the
project and the goals to be achieved. According to Project Management: A Managerial Approach
(2012), the sole purpose of planning is to simplify goal fulfillment over the course of the project's
completion. It acts as a map by helping project members understand what they must do and the risk
factors and resources they must utilize along the way. This is a vital stage in the project completion
process because when projects are poorly planned, their budgets, schedules, and deliverables may all
be in jeopardy. To avoid poor planning issues, the PM should get a good description of the

Importance Of Iterative Process Groups On Healthcare...
The Importance of Iterative Process Groups
Katina King
Breanu University
The Importance of Iterative Process Groups
Project management involves five groups of processes: Initiating, Planning, Executing, Monitoring
and Controlling, and Closing. The process groups are important to a project's flow throughout its
lifecycle. The processes within the groups include the tools and/or techniques involved in applying
the skills and capabilities described in the PMBOK's Knowledge Area (Project Management
Institute, 2013). This paper will discuss the importance of the iterative process of these groups by
demonstrating the need for integration and how failing to iterate the processes can affect healthcare
improvement. The paper will further ... Show more content on Helpwriting.net ...
The Project Managers (PMs) incorporated the doctors' advice into the WTIS project plans while
setting predetermined deadlines for implementation to provide a good balance between consultation
and the planning group processes. The project team took the advice and created assessment tools
that required medical staff's judgment in the important decision for each patient (Healthcare Project
Management, 2013). The processes arrived at desired result by repeating rounds of analysis or
cycles of medical operations. The objective was to bring the desired decision closer to discovery
with iteration. The iterative process can be used where the decision is not easily revocable or where
the consequences of revocation could be costly (Business Dictionary, n.d). To maintain equilibrium
in areas of appropriateness, point of care decision support, and capacity, processes were improved
after each cycle of testing which optimized procedures' ordering process.
PMs integrated the project management processes groups to successfully manage the WITS project
because healthcare projects are a part of a larger organizational environment, and many factors that
might affect the project are out of the project manager's control. One cannot simply shorten patients'
wait time because it does not ensure an improvement in clinical performance. Wait time has to

Ecl In China Case Study Essay
ECL in China
Case Study
Problem Identification and Situational Analysis ECL is a multi–national corporation that continues
to expand its core business as well as create opportunities for foreign divisions to influence the
direction of the company in addition to bringing cohesion and unity throughout the workforce. ECL
developed a division in China that allowed the company to integrate into the Chinese market but
also presented it with issues it would need to manage successfully in order to progress in this
venture. There are various cultural issues facing ECL in China. The first is the qualities not often
seen in American industries and those are the obedience and humility among the Chinese workers.
In the Chinese culture this is ... Show more content on Helpwriting.net ...
Chinese workers believe that close personal relationships are imperative to effective
communication. American companies don't share the same views and some organizations have even
related this to workplace fraternization, which can result in disciplinary action. Since we don't
believe that these relationships are necessary, or even appropriate, we don't form them and this could
affect a bi–national workplace and possibly even carry over to business dealings outside of the
company. The Chinese believe that, when conducting business with other people, a relationship
must first be formed to gain the trust of business partners. American companies rely heavily on
systems and processes, which is viewed as highly efficient by the American standard while the
Chinese workers with ECL aren't accustomed to this and believe that it's not always necessary to
establish a system to follow in order to complete a task. The difference in views on this could also
present some serious problems for ECL, as the Chinese workers may view the American
management style as inefficient or sluggish.
Recommendations
ECL manages cultural diversity by having "Constant respect for people" and "Uncompromising
integrity". (Wo, 2001) A significant number of companies that have ventured into international
business did not attempt to adjust to the foreign culture and rather tried to take the 'business

Project Procurement Phases
Running head: ASSIGNMENT #1: PROJECT PROCUREMENT PROCESSES
Assignment #1: Project Procurement Processes
By
Sue Dickson
PMAN 641 – Project Procurement Management
Professor William C. Andersen
University of Maryland University College
February 15, 2013
Table of Contents Introduction 3 Plan Procurements 3 Conduct Procurements 5 Administer
Procurements 6 Close Procurements 7 Conclusion 7 References 8
Assignment #1: Project Procurement Processes
Introduction
According to the Project Management Body of Knowledge (PMBOK) there are four phases in the
project procurement process. The PMBOK Guide (Project Management Institute, 2008) defines
these as Plan Procurements, Conduct Procurements, Administer Procurements, ... Show more
The PMBOK Guide (Project Management Institute, 2008) states that the statement of work (SOW)
should be written to be complete, clear and concise; it should include details of any services to be
required as well as specific content and format requirements for the procurement. (p. 326) While this
is meant to provide for the best vendor selection, at times my clients have not considered the SOW
to be as important as it is and not having a properly defined SOW has hindered selection of the most
effective vendor. Contracting officers can only go off what has been given to them and if the SOW is
not clear, or is missing, the vendor selected through the evaluation criteria may not meet actual
expectations.
The PMBOK Guide (Project Management Institute, 2008) defines procurement documents as those
documents which are used to gather proposals from potential bidders during the solicitation process.
These can be collected under request for information (RFI), invitation for bid (IB), request for
proposal (RFP), request for quotation (RFQ), invitation for negotiation, tender notice or invitation
for seller's initial response. (p. 326) In my business, we generally use RFPs that follow very strict
government guidance. For example, we have different conference RFP

How The Ansari X Prize International Hotel Project Will Be...
INTRODUCTION The project schedule is to be set up and to roadmap on how the Ansari X prize
International hotel project will be determine or executed, by team leaders. Schedule are very
important, they're and important part of any project you work on, as they provide the project team
sponsor, and stakeholders with a great view or picture of the project status at any given time. The
schedule management plan has some great tools, and it has a main purpose to define the approach
the project team has and will use in many occasions on creating the project schedule. The plan
includes how the team you're working with will create and monitor the project schedule and most
importantly manage the changes after the baseline schedule has been set up and approved. The main
aspect of the team schedule will include identifying, analyzing, documenting, prioritizing, approving
or rejecting, and most importantly publishing all the correct schedule–related, to the project. The
other important aspect will be the methodology of quantify research, that will be used to reduce the
different project failures and also schedule overruns while using statistical attributes that will help
you monitor the project during its lifecycle, and also help you measure any type of data to formulate
the different facts within the project and the parameters of the project scope, this will help with the
project. The analysis can help you in many different ways, it could help you identify the risk or the
different

Individual Risk Management

More Related Content

Similar to Individual Risk Management

More from Laura Torres

Recently uploaded

Individual Risk Management