ICPM

One of the first inputs to risk management is the project charter. The charter is needed in risk management planning because it identifies the business need of the project and the overall product description. Risks that can prevent the project from satisfying the business need of the project must be addressed. The product description must also be evaluated to determine what risks may be preventing the project work from obtaining the acceptable product description. 

Risk analysis is a technique to identify and assess factors that may jeopardize the success of a project or achieving a goal. This technique also helps define preventive measures to reduce the probability of these factors from occurring and identify countermeasures to successfully deal with these constraints when they develop.

Risk Management is the process of measuring, or assessing risk and then developing strategies to manage the risk. In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. The Risk Management Plan (RMP) is the document prepared by a Project manager to foresee risks, to estimate the effectiveness and to mitigate them.

 

Project Managers have a professional obligation to conduct lessons learned sessions for all projects. An example of specific lessons learned may include:

• Update of the lessons learned knowledge base
• Input to knowledge management systems
• Updated corporate policies, procedures and processes
• Improved business skills
• Overall product and service improvements
• Updates to the risk management plan

 

Management Styles: The Project Communications Management section of the exam may address the following management styles:

Authoritarian: Lets individuals know what is expected of them; gives specific guidance; expects adherence to rules and standards
Combative: Eager to fight or be disagreeable over any situation
Conciliatory: Friendly and agreeable; attempts to unite players into a compatible working team
Disruptive: Tends to disrupt unity and cause disorder
Ethical: Honest and sincere; presses for fair solutions; goes “by the book”
Facilitating: Does not interfere with day-to-day tasks, but is available for help and guidance when needed
Intimidating: Reprimands employees for the sake of a “tough guy” image
Judicial: Applies sound judgment
Promotional: Cultivates team spirit; rewards good work; encourages subordinates to realize their full potential
Secretive: Not open or outgoing in speech, activity, or purpose

 

Information can be distributed through the following as well as other methods, according to project demands and as technology provides:

This is a subsidiary plan to the Project management plan which includes the processes of staff acquisition, time-table of staff acquisition, team member release criteria, staff training requirements, policies for reward and recognition, compliance requirements and safety protocol.

Staffing is generally represented by a Resource Histogram - A resource histogram illustrates the employee’s time and activities accordingly. The host organization’s management may choose to utilize this information to make decisions about other organizational goals that require time and effort from the project contributors. 

An Organizational Chart represents the structure of an organization in terms of rank. The chart usually shows the managers and sub-workers who make up an organization. The chart also shows relationships between staff in the organization, which can be:

The Project Human Resource Management questions on the PMP® certification exam focus heavily on organizational structures, roles and responsibilities of the project manager, team building, and conflict resolution. The Project Human Resource Management processes include the following:

Cost budgeting involves aggregating the estimated costs of individual schedule activities or work packages to establish a total cost baseline for measuring project performance. The project scope statement provides the summary budget. However, schedule activity or work package cost estimates are prepared prior to the detailed budget requests and work authorization.