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July 2012 Blog Posts (26)

Entrepreneurial Project Management: Management Architecture (III)

I have already presented 'strategic orientation' and 'resource orientation' dimensions of the 'Entrepreneurial Management Architecture' element in the…

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Added by Andrius Gedvilas on July 30, 2012 at 8:30am — No Comments

A Long Tail

Understanding project risk is a complex area. Three books that were central to my understanding are briefly discussed below.

One of the key books that started my interest in risk, uncertainty and ultimately complexity theory was Against the gods: The remarkable story of risk written by Peter L Bernstein, and published in 1996 when Peter was aged 77! This book explained much of the history behind the development of risk management in way that I could understand and is a…

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Added by Patrick Weaver on July 30, 2012 at 7:24am — 1 Comment

Free PMP Exam Sample Question

The following PMP® exam sample question is taken from the Free PMP Exam Simulator:



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You are managing an insurance project. An executive steering committee meeting is scheduled for tomorrow and you are required to make a presentation on the project progress. Which of the following presentation formats is best used in this type of meeting?



A.) Hammock Diagram

B.) Network Diagram

C.) Milestone Chart

D.) Gantt…

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Added by Cornelius Fichtner on July 30, 2012 at 6:05am — No Comments

Is there value in classroom style training?

Re-posted from my blog Project Management in Practice.

I was talking to some of my peers about our experiences in undertaking various project management related…

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Added by Shoaib Ahmed on July 28, 2012 at 6:39pm — 2 Comments

PMP Exam Tip: Know the Difference between a Planning Package and a Work Package

Many PMP students have trouble understanding the difference between a planning package and a work package. Let’s turn first to the PMBOK® Guide to clear up any confusion:



Planning Package = A work breakdown structure component below the control account with known work content but without detailed schedule activities (see also control account; control account [Tool] = A management control point where scope,…

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Added by Cornelius Fichtner on July 26, 2012 at 8:20am — No Comments

Complexity

I have had an interest in complexity theory and its application to project management for several years. This seems to be an expanding area of interest world wide and slowly some of the extraneous concepts such as ‘complex projects’ seem to be fading (every single project has a degree of complexity).

Some of the references you may find useful include: my papers ‘Scheduling in the Age of Complexity’,…

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Added by Patrick Weaver on July 24, 2012 at 10:35pm — 1 Comment

Free PMP Exam Sample Question

The following PMP® exam sample question is taken from the Free PMP Exam Simulator:



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Which of the following statements about Project Scope and Product Scope is correct?



A.) Project Scope is measured against the Project Management Plan.

B.) Product Scope is measured against the Project Management Plan.

C.) Project Scope is measured against the Product Requirements.

D.) Product Scope is measured against the Project Scope…

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Added by Cornelius Fichtner on July 24, 2012 at 10:57am — No Comments

Where Are You Coming From?

Have you ever looked at someone and thought, “I have no clue what this person is talking about.” Maybe you even have specifically thought, “Where is this person coming from?” You were not questioning their place of origin. What you were questioning was their perspective.

 

If you occasionally question the perspective of others, doesn’t it make sense that people occasionally wonder where you are coming from? As you go about your day and you complete your work, it never hurts for…

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Added by Margaret Meloni on July 23, 2012 at 1:58pm — No Comments

PMBOK or PRINCE2?

Re-published from my blog Project Management in Practice

I often see debates on project management forums on LinkedIn, blogs and even at the water cooler around the office regarding what project management methodology is best. I have often wondered about the wisdom of such discussions. The two that are always compared are PMBOK…

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Added by Shoaib Ahmed on July 23, 2012 at 7:30am — 5 Comments

Project Costing in 5 Easy Steps

Picture the scene: you’re a manager for a web agency. You’re sitting in a meeting with your boss, describing two new potential projects. The projects will bring in the same amount in revenue, but you can only take on one with your current team. How do you decide which one? While there may be other considerations, knowing the cost of each project will help you make a better decision.

How do you figure out the cost of a project? In…

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Added by Liz Pearce on July 19, 2012 at 5:03pm — No Comments

PMP Exam Tip: Study Integration Management Last

Have you ever been tempted - even just a little bit - to turn to the back of a book and read how it ends before you invest all that time reading the book? Well, here’s a tip that lets you do just that with your PMP exam studies of the PMBOK® Guide: Skip the first knowledge area (Integration Management) for now and focus your attention on the other eight first.



Here’s why: In order to really understand…

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Added by Cornelius Fichtner on July 19, 2012 at 8:33am — No Comments

Free PMP Exam Sample Question

The following PMP® exam sample question is taken from the Free PMP Exam Simulator:



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You have just been assigned as the project manager for a new construction project. The Project Charter has been handed over to you by your sponsor authorizing you as the project manager. You have performed the Stakeholder Analysis process and documented the information in the Stakeholder Register. Which of the following processes should be performed…

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Added by Cornelius Fichtner on July 16, 2012 at 8:13am — No Comments

How can suppliers use PRINCE2?

Republished from my blog Project Management in Practice.

I use PRINCE2 as the guiding framework for most of my work. My project management background has been exclusively from a…

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Added by Shoaib Ahmed on July 14, 2012 at 8:00am — No Comments

Why a "Standard Project" is not a "Project"

In my past few years of working as a Project Manager, I have heard the term "Standard Project" mentioned a few times.  Each time, I found that little voice going in the back of my head saying "There is no such thing, Steve".  When reviewing the PMBOK guide, I found out why that little voice was completely right!

Let's examine the meaning of "Standard Project".

If you separate the two words, Standard and Project, in the given context, you get very contradictory…

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Added by Steven W Wantz on July 13, 2012 at 9:40am — No Comments

Entrepreneurial Project Management: Management Architecture (II)

I my last post I started to present the Management Architecture element of the entrepreneurial project management (EPM) concept. It is based on Stevenson's (1990, 1999) conceptualization of Entrepreneurial Management. We…

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Added by Andrius Gedvilas on July 12, 2012 at 9:00am — No Comments

PMP Exam Tip: Validated Deliverables and Accepted Deliverables Are NOT the Same!

Students often confuse validated and accepted deliverables, so if you’re struggling here, you’re not alone. At first glance, they do seem to be rather the same, but once you get the idea, you’ll never confuse them again. The most important thing you need to understand is in which process from the PMBOK® Guide these deliverables are created as outputs. The PMBOK® Guide defines each as follows:



** Validated…

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Added by Cornelius Fichtner on July 12, 2012 at 8:42am — No Comments

How to Manage Risks in a Project? Short blog posts with practical tips

From one passionate Project Manager to another. For all you Risk Management evangelists out there, my next blog posts will help you understand the Risk Management Process. These posts will contain several short and sweet parts where I will give some practical implementation of the theory.

Why Risk Management is necessary for Projects?

Many, many projects fail? Why? It’s got to be scope creep,…

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Added by Anand Chittoor, PMP, CSM on July 10, 2012 at 9:02pm — No Comments

Culture Is Everything

The thing I have learned at IBM is that culture is everything.

Louis V. Gerstner, Jr. former CEO IBM 

 

Too often I have worked with people who have joined a new organization only to crash and burn. Too often a complete and total disregard for organizational culture has played a part in this unfortunate scenario. Here is what NOT to do:

  • Assume that because you were hired, you have something much more special than the people…
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Added by Margaret Meloni on July 9, 2012 at 8:15am — 3 Comments

Free PMP Exam Sample Question

The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com:



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Joe is running a public transportation system project. He believes there are numerous scenarios that could affect his project's schedule. Some of the scenarios include delays in a major component delivery or a strike by local workers. He wants to see how these…

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Added by Cornelius Fichtner on July 9, 2012 at 6:16am — No Comments

The Last Planner and other Old Ideas

I never ceased to be amazed by the number of people who either have no knowledge of project management history and established practice or chose to ignore established practice in favour of a new fad that is the old practice recycled. Given modern project management is less than 60 years old this is a worry (for more on this see The Origins of Modern…

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Added by Patrick Weaver on July 9, 2012 at 3:49am — 7 Comments

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