Is Your Lack of Risk Management Hurting You?
Risk management is, essentially, the process by which you identify and analyze the various risks that are associated with any project, no matter how large or small. This is important because it gives you the chance, during the planning process, to figure out what risks might end up affecting your project. That way, you can take steps to avoid those potential risks becoming a real problem. And, if those risks do become reality, you can immediately take action.
How to Create a Project Communication Plan
Creating a clear communication plan can help you effectively collaborate with your team, client, and stakeholders. Like other tools that you’ll use for the duration of a project, this plan will set straightforward guidelines that everyone will follow to stay on the same page as they work on meeting goals.
What’s a Project Communication Plan?
This plan outlines the methods that will be used to share information (think: meetings, emails, phone calls, status reports, discussion boards, etc.). And it also covers when information will be shared, who will be sharing it, and who will be receiving it. Plus, it gives everyone the opportunity to provide critical feedback that can help ensure a project’s success.
Scope creep happens when a project’s scope is changed or additional requirements are implemented after the start of a project, and you don’t really have any control over it. Although you know that changes are likely to occur at some point during any project, the lack of control that comes with scope creep can be very stressful.
More specifically, scope creep occurs when changes to a project haven’t been authorized, and when the effects of those changes haven’t been addressed. Worse yet, you’re still required to achieve the project’s goals with the same schedule, budget, and resources that you had before the changes were made.
All of this might mean that you’re unable to meet the original authorized aspects of your project on time, and it might cause the project to fail unless you know how to tackle scope creep.
Communications Management Plan in Project Management Communication in business and in project management can be difficult, especially when you’re collaborating with virtual teams or working on global projects. But clear communication is a critical component to a project’s success. In our previous post, we covered the essential element, Identify and Analyze Risk. By using risk identification and analysis throughout a project, you can increase the odds that it will go smoothly, that you’ll stick to your budget and anticipated resource requirements, and that you’ll finish on schedule to impress and satisfy your stakeholders. Now, it’s time to cover the importance of a communications management plan, which is yet another essential aspect of successful project execution. Did you know that a project manager spends 90% of his or her time communicating? Yet, our studies show that communication issues are the most preventable problems on projects. What’s the secret to good communication?…
Identify and Analyze Risk in Project Management One of the most important steps when coming up with a plan for your next project is identifying and analyzing risks. Whether you’re new to project management or you want to become a better project manager, understanding how to accurately determine where your risks lie can help ensure you’ll meet your goals with fewer, if any, setbacks along the way. In our previous post, we covered the essential element, Creating a Work Breakdown Structure (WBS). A WBS is a graphical decomposition of project deliverables. It is the “family tree.” Now, it’s time to cover the important element of identifying and analyzing risks when you’re managing any project. What Are “Risks” in Project Management? What is a risk, exactly? Basically, it’s anything that might affect your project in either a positive or a negative way, so a risk is really a potential threat or…
Create a Work Breakdown Structure (WBS) in Project Management
Creating a Work Breakdown Structure (WBS) is an essential part of organizing a project. Once you understand what a WBS is and how it can help you succeed in project management, you’ll always want to have one in place for each and every project that you work on.
In our previous post, we covered the essential element of developing a project scope statement, which describes, in detail, the deliverables and the work needed to create a product, service, or result. Now, let’s cover the benefits that you can reap from creating a WBS.
Develop a Project Scope Statement in Project Management
The Project Scope Statement describes, in detail, the deliverables and the work needed to create a product, service, or result.
In our previous post, we covered the essential element, Identify Stakeholders. It’s important to identify anyone who can affect, or be affected by, the project or the product. But, to be a successful project manager, it’s also necessary to know how to develop a project scope statement, so that’s what we’ll cover below.
Identifying Project Stakeholders in Project Management
Effective project management requires detailed stakeholder identification to be performed. This includes internal and external stakeholders, such as business executives, leadership teams, SMEs, team members, departments, end users, vendors, customers, partners, and regulators.
In a previous post, we covered the essential element, create a project charter. A charter should identify key project stakeholders, but this is only on the high level, so let’s dive more deeply into what it takes to effectively identify all of your stakeholders.
Create a Project Charter in Project Management Project management is a systematic process used to initiate, plan, execute, monitor, control, and close a project to meet a defined set of objectives. At RMC Learning Solutions, we help teams understand the science and the art of project management by giving you the knowledge and skills necessary to ensure the success of projects. How do organizations maximize their projects to deliver the expected value on time and within budget? We found that the key to success lies in mastering six essential elements to effective project management. These elements ensure every project delivers significant value and return on investment. Let’s start with the first of the six essential elements: creating a project charter. What Is a Project Charter? The project charter is a document issued by the project’s sponsor. It authorizes the project and gives the project manager authority to do their work.…
As a professional in project management, you don’t only manage projects, you also lead teams. So, being able to work as both a manager and a leader can help you excel and really stand out in the workplace.
It’s worth taking some time to uncover the things that differentiate a manager from a leader. After all, some people who are leaders might not make the best managers, and vice versa. But if you’re determined to be both, you can hone your skills to manage and lead more effectively.
Take a look at the information below on managers vs. leaders to figure out which one you are, and to gain a clearer picture of what you might need to do to advance your career.