5 Best strategies to conduct an IT security audit

Audits have a bad reputation. Nobody wants to get a letter from the IRS informing them that an audit of their finances is about to begin. However, an audit simply refers to a formal examination of one's financial records. As a result, an information technology audit is a formal examination of an organization's IT infrastructure, policies, and operations. It also includes a review to suggest improvements.

IT Audit: Best Strategies

Conducting an IT audit is a complicated process that involves all aspects of your information system. There are policy and overarching general management issues to consider. Security architecture and design, systems and networks, authentication and authorization, and even physical security are all important considerations. Like any good risk management strategy, it entails continuity planning and disaster recovery.

There are also some overarching best practices that can help you navigate the maze so that you can start and finish on time. These five pointers will assist you in properly conducting an IT security audit.

1.       Scope: You're more likely to have an audit that runs smoothly if you know the scope of the audit ahead of time. For starters, when planning, you'll want to include all relevant stakeholders. Speak with people who work in the IT industry. They can help you figure out what risks you're looking for and what the system's current capabilities are. This will help you determine whether or not new technologies are required. Also, make sure you're up to date on all applicable laws and regulations.

2.       Outside Resources: You may have an in-house team capable of conducting the IT security audit, or you may need to hire outside contractors to assist with parts or the entire process. This must be decided ahead of time. You may have an IT audit manager on staff or need to hire a consultant who can train your team on what to look for in-between IT audits.

3.       Implementation: Know what you have and make a list of these systems in order of importance. To ensure you're up to date, familiarise yourself with industry standards, methods, and procedures. Examine your audit to see if assets are being safeguarded and risks are being minimized.

4.       Feedback: If you're not an IT professional, IT audit reports may appear to be written in a foreign language. The audit must be clear to those who make decisions in order for it to be effective. The IT auditor should deliver the report in person and answer any questions, ensuring that there are no doubts about the work and any vulnerabilities found.

5.       Repeat: Of course, an IT audit is not a one-time event, but there is still work to be done in between audits. This includes making recommendations for the future and utilizing IT software that can monitor systems, users, and assets automatically. Because the technology industry is notoriously fast-paced, it's a good idea to have a plan in place to review applicable laws, regulations, and new developments on a quarterly basis.

Want to learn more strategies for an IT audit? Go through a PMP prep session today!

Read More

4 Best tips for making a Proof of Concept

A successful proof of concept establishes that a proposed project's goal is feasible and achievable. A POC's value is that it can assist a project manager in identifying process gaps that could obstruct success.

A proof of concept does more than that. A proof-of-concept (POC) elicits feedback from everyone involved in a project, including those who might not have contributed otherwise, reducing the risk of unforeseen events.

Because it is a test project to evaluate before work on an actual project begins, the proof of concept is extremely valuable. A proof-of-concept verifies that the concepts and theories used in a project will be useful in the real world. POCs do not produce deliverables because the primary concern is the project's feasibility.

Tips for Making a Proof of Concept

As previously stated, a proof of concept is a project, and it, like any other project, must be well-defined. To better manage the process, this means breaking it down into these four steps.

1.      Duration & Effort

It's a project when you're working on a POC, but it's not the final project. Work will be completed on a strict timetable. Typically, this time frame is no longer than two weeks. You'll also need to put together a team to complete the task, but it doesn't have to be a huge undertaking. Two people is usually sufficient.

2.      Scope of Project

It's critical to define the project scope for your proof of concept if you want accurate results. Even if the POC is proven to be viable, if the scope is incorrect, the proof is useless. If the scope is incorrect, time and effort are wasted. As a result, you should limit the scope of the POC to one topic. That is, finding a solution to a single issue. You won't get any of them done if your scope expands to include too many things.

3.      Pick Your Resources

It's just as important who you choose to carry out the proof of concept as it is the process. You want to make sure they have the necessary skills to complete the job correctly. Depending on the scope of the project, you may want to enlist the help of a mentor or someone with prior experience to serve as a project manager and a resource for any questions.

4.      Choose Your Criteria

You must first decide on a set of project metrics before you can make accurate feasibility measurements. Metrics that collect the most important information about a project and determine its success or failure. You can begin by interviewing the client, as their satisfaction will determine whether or not the project is a success. However, keep these inquiries focused. What you ask the client should be guided by the project goals.

Want to learn more tips to make a Proof of Concept? Sign up for a PMP  bootcamp session today!

Read More

Project Sponsor roles in each project phase!

A project sponsor is a person or organization that owns the project and provides resources and support to ensure its success.

At least one project sponsor is required for every project. They are the project's driving force. While they are not responsible for the day-to-day operations of a project, they are in the project hierarchy above the project manager. The project sponsor has most likely been involved with the project from the beginning. They were the ones who came up with the idea and pushed for it.

While a project sponsor may be visible from the start and then disappear, the best project sponsors are involved in every phase of the project.

·        Initiation Duties

During the initiation phase, project sponsors play an important role in selecting the project manager, as well as providing that project manager with a clear mandate, context for the project, and authority levels.

In addition, the project sponsor ensures that the project is appropriate for the organization by providing input on the project charter and attending the kick-off meeting. During this phase, the sponsor assists with decision-making.

·        Planning Duties

During the planning phase, the project sponsor verifies that the project plan is feasible and realistic. This takes into account time constraints and whether or not the team is tasked with meeting unrealistic expectations.

If issues arise that are beyond the scope of the project manager, the project sponsor can assist. If there are other projects involved, the project sponsor ensures that they all work together rather than against one another.

·        Implementation Duties

The project sponsor should collaborate with the project manager during the implementation and control phases, but not overstep his or her bounds. The project sponsor assesses the project's actual progress in comparison to the original plan and provides necessary feedback to the project manager.

Sponsors also assist the project manager and team in working more independently to address issues as they arise while ensuring that procedures are followed. They look for underlying causes of problems and celebrate when milestones are reached.

·        Closing Duties

The project sponsor participates in the post-mortem evaluation of the project's performance and other aspects during the closing phase. They ensure that all handoffs and signoffs are completed correctly. Sponsors of projects assist in the discussion that determines whether a project is a success or failure.

A project sponsor, in general, aids in the streamlining of communications. They foster trust and collaboration while preventing problems from becoming more serious. They created the instrument to identify problems with the schedule, cost, and quality. In that sense, they're also in charge of ensuring the success of risk management. Finally, they promote the keeping of records in order to store historical data.

Want to learn more about the same?Enroll in a PMP prep course program today!

Read More

How to properly gather requirements in Project Management?

Early on in the process, writing down your requirements can help to break down communication barriers between the user and the developer, the stakeholder and the team member, and the company and the customer. So, let's talk about how we go about gathering those requirements.

1.     Requirements Elicitation

You'll begin the planning process by interviewing and investigating the requirements and project needs of others, just as you would with any well-mapped project. This could include a list of all of your stakeholders, the customer service team, sales representatives and their needs, or your actual customers. This is known as requirements elicitation, and it is the first step in gathering project requirements. To get started, download our free requirements gathering template.

2.     Requirements Documentation and Understanding

Make a list of everything and document the product specifications so that other team members are aware of the project's scope right away. This stage is known as requirements documentation and comprehension, and the more specific you can be, the better.

3.     Communicate Early and Often

Make it simple to translate your requirements documentation across departments. Even if they've never met with you before, they should have a clear understanding of the project's requirements and scope from the start. Include updated notes from stakeholders and internal meetings as well, so that everyone involved feels like they're part of the project as it progresses.

4.     Understand Your Assumptions

You can better balance the requirements within your project if you understand your assumptions. Assumptions are usually made based on three factors: time, budget, and scope. While managing your requirements, you may make the following assumptions:

·         Holidays, PTO, and sick leave are not taken into account.

·         Failure to consider whether tools are in good working order or need to be repaired

·         Assuming that stakeholders will provide timely feedback during milestones 

5.     Monitor and Track Requirements

Ensure that you are monitoring and tracking your requirements across all levels of your team throughout the duration of your project, ensuring that risk is kept to a minimum at all times. You can also use this information to ensure that the project is on track in terms of time, scope, and budget, and to report your findings to key stakeholders when it's time to review milestones.

Need more tips on the same? Go through the pmp exam prep today!

Read More

Dealing with Negativity Bias That Impacts Your Project Management

If you've never heard of negativity bias, it's a psychological term. It refers to the phenomenon in which people give negative experiences more psychological weight than positive ones. She went on to say that negative emotions have a three-fold stronger impact than positive emotions, according to research.

Consider how this might affect a project. Projects have plans, but as any project manager knows, those plans must be flexible enough to adapt to and change as issues arise. Things change and go wrong, and you begin to accumulate negative experiences, which can lead to a negativity bias. This can then infect the wisdom of a project manager.

How Negativity Bias Impacts Project Managers?

Here are a few examples of how negativity bias can hinder a project manager's ability to complete their tasks.

1.       Bad experiences taint data analysis, leading to the conclusion that things will go wrong again.

2.       Managing team members, particularly those who exhibit negative behavior, will have a negative impact on how you interact with the rest of the team.

3.       When communicating with stakeholders, it's common to hear or relate bad news, which can create a culture of expecting bad news.

5 Tips on Being Balanced

There are ways to strike a balance between optimism and cynicism. We recommend that you take the following advice:

1.       Surround yourself with positive people who can help you avoid falling into a negative spiral. While it will not eliminate all negative thoughts from your mind, it will provide you with a soundboard from which to see things more clearly.

2.       Having more positive experiences is another way to sway the scales in favor of a more realistic outlook on life. This can be accomplished in a variety of ways, including listening to positive music, watching positive movies or videos, visiting positive locations, and consuming nurturing foods and beverages.

3.       Because it is always good and bad in any situation, you can reframe the situation by seeing the positive. It's all a matter of viewpoint. Of course, not everything can be viewed in a positive light, but most situations aren't as bad as they appear when viewed through the lens of negativity bias.

4.       Little rituals can assist you in moving on from a traumatic event. Try writing down all of the bad things that have happened to you or the project, then discarding or even burning the paper. Do whatever it takes to get it out of your system.

5.       Setting positive intentions and envisioning the project's positive outcome—truly visualizing that goal—can help you succeed. This does not eliminate negative experiences, but it does help to reduce the psychological impact.

Want to learn more tips on being balanced? Enrol in a PMP boot camp session today!

Read More

5 Steps to IT Risk Management

Information technology (IT) is no longer a back-room operation with little impact on daily operations. It's big business, and it's involved in almost every sector of the economy, so it's fraught with dangers. Continue reading to learn more about the significance of IT risk management.

IT risk management is the application of risk management techniques to the field of information technology in order to manage the risks that come with it. To do so, an organization must assess the business risks associated with the use, ownership, operation, and adoption of IT. To manage risk with confidence, follow these steps.

1.    Identify the Risk

You can't prepare for risk without first determining where and when it might occur, to the best of your ability. As a result, both the manager and the team must be vigilant in identifying and recognizing risks, as well as detailing them and explaining how they may affect the project and its outcomes. Using an IT risk assessment template is one method.

2.    Analyse the Risk

Once you've identified a risk, you must assess it to determine whether it has a significant, minor, or negligible impact. What would the consequences be for each of the risks? Examine the risk and how it might affect the project in different ways. These findings will be incorporated into your risk assessment.

3.    Evaluate and Rank the Risk

You can start developing strategies to control risks once you've assessed their impact and prioritized them. This is accomplished by determining the risk's potential impact on the project, as well as the likelihood of it occurring and the magnitude of its impact. Then you can say that the risk must be addressed or that it can be overlooked without jeopardizing the project's overall success. These rankings would be factored into your risk assessment once more.

4.    Respond to the Risk

After all of this, if the risk becomes a real problem, you've left the theoretical realm. It's time to get to work. This is known as risk response planning, and it entails deciding how to treat or modify high-priority risks so that they become lower-priority risks. Risk mitigation strategies, as well as preventive and contingency plans, are applicable here. Include these methods in your risk assessment.

5.    Monitor & Review the Risk

After you've taken action, you'll need to keep track of and evaluate your progress in reducing the risk. To ensure that nothing is missed or forgotten, use your risk assessment to track and monitor how your team is dealing with the risk.

Finding more Risk Management Strategies? Sign up for a PMP  boot camp program today!

Read More

Basics of Operational Planning you need to about!

After you've put in place a solid operational plan, you'll be able to achieve project success, especially on a team level. Without an operational plan, team members may lose track of their schedules and tasks, causing budgets to balloon and chaos to ensue. So, let's dive in and learn how to create an effective operational plan to ensure that your project is well-executed.

What is Operational Planning?

When a team or department takes a company-wide strategic plan and examines it, this is known as operational planning. It's forward-looking: it lays out department budgets and goals to help the strategic plan succeed by focusing on specific, team-based activities over the next 1-3 years.

When an entire department buys in, assigning due dates for tasks, measuring success goals, reporting on issues, and collaborating effectively, operational plans work best. They work even better when there is cross-departmental communication to ensure that the entire machine runs smoothly as each team meets its goal.

How to Make an Operational Plan?

Because operational plans are created with the goal of allocating funds, resources, and personnel for each 1–3-year period, all of the steps that an operational plan must include should ultimately serve that goal.

·         Visualize the Operational Plan

·         Research and Identify Goals

·         Assign Budget and People

·         Report on the Operational Plan

·         Adjust the Operational Plan as Needed

Who Manages the Operational Plan?

The operational plan is typically managed by middle management, while the strategic plan is implemented from the top down. Furthermore, its scope is limited and subject to change on a yearly basis, with a focus on routine activities.

Because it involves consideration of day-to-day activities, resources, and tasks, many middle-managers excel at mapping out and implementing the operational plan.

What Are the Benefits of Operational Planning?

Every strategy has a significant impact on all team members, and some of those impacts can be beneficial or detrimental to your company. It's best to find out as soon as possible if it's to their detriment, so you can easily adjust your operational plan and pivot.

But that's the whole point of operational planning: you can see the impact of your operations on the bottom line in real-time, or at each benchmark, so you know when to pivot. And you'll know exactly where and why things go wrong with a plan that's as unique to each department as an operational plan.

Need more insights on Operational Planning? Enrol in a PMP boot camp program today!

Read More

Project Management: An overview of the Pilot Study!

Project managers strive to reduce risk in their projects. They can do this in a variety of ways, including risk assessments, historical data on similar projects, and thorough planning. While issues will inevitably arise in any project, the better identified and controlled they are, the less of a problem they will be.

But what about the project as a whole? Will it be successful? Is it going to be cost-effective and completed in a timely manner? Outside of the possibility of something going wrong, there are so many questions. How can a project manager, so to speak, test the waters to see if the project is even feasible?

A pilot study can help with this. You've probably heard it called a pilot project, a pilot test, or even a pilot experiment. Consider it a taste test to see if you'll want to eat the entire meal. It's a small step for a project to ensure that the larger journey is worthwhile.

What Is a Pilot Study?

A pilot study is a small-scale project designed to evaluate the feasibility, duration, cost, and risks of a larger project. Improvements to the larger project's performance can be made as a result of this research.

The benefits of a pilot study are self-evident. Why squander time, effort, and money on a project that will inevitably fail? With a pilot study, it is possible to determine whether the project is worthwhile. It's a small investment up front that could save you a lot of money in the long run.

It's also a great way to find flaws in project design that would be expensive to fix once the project is fully operational. Those flaws, on the other hand, could be redesigned prior to the full-scale project's execution, adding efficiencies that would make the entire process more productive.

A pilot study's findings are priceless, and it's well worth the effort, money, and time. They can reveal hidden pitfalls, items that are missing from the plan, and more. All of this saves money in the long run and paves the way for a better outcome.

How to Run a Pilot Study?

Each project feature or activity must be included in the pilot study. The project should be broken down into tasks that are then tested. However, this will speak to the project's overall feasibility. It's also a good idea to look for historical data from other companies or organizations that have case studies relevant to the project you're about to start. After that, follow these six steps to carry out a successful pilot study.

1.       Have a Clear Goal

2.       Determine the Duration

3.       Create a Study Group

4.       Have an Onboarding Plan

5.       Get Feedback

6.       Address Issues

Want to learn more insights on the same? Go through the project management courses online.

Read More

Advantagesof PMP Certification in the corporate world!

With all of the changes going on around us, it's become more important than ever to update our knowledge. Aside from embracing the new normal, becoming a certified holder has also become a common occurrence nowadays. As a result, we've seen a slew of foundations spring up that promise faster skill growth as a job alternative. Project Management has become a well-known and in-demand occupation job among all the assignments.

For the same reason, PMI Certification, which is widely recognized and considers firms from all over the world, provides credentials. Don't worry if you aren't an accomplished applicant; this Institute has something for everyone. Let's take a look at the advantages of getting insured below.

Advantages you could appreciate in the corporate world are as per the following:

1.       A higher salary potential: Assured candidates are given preference, and their compensation scale is also higher when compared to non-confirmed friends. Businesses also look for them, and they are consistently the top choice of the organization because they are seen as more dependable.

2.       Begin Your Career: These are additional items that will assist you in considering better job opportunities and will also open up a wide range of opportunities in both public and private companies. There is a specific course, such as a PMP prep course, but they are too common nowadays.

3.       Global options are available: This Institute is well-known around the world, and the projects it has completed will allow you to travel abroad and pursue better opportunities.

4.       Personality Development: In addition to learning new facts and information, you will reach a point in your career where you will be able to assess your current situation and future prospects. They instil confidence in the candidates while also making them aware of the most recent devices and innovations to hit the market.

These were only a few of the numerous advantages that you could gain if you completed any of these accreditations by taking the CAPM Exam or another examination. In this vein, hurry up and get started on your PMP course Mississauga today.

Read More

Project Management: 4 Best Steps to Make a Work Plan

Creating a work plan is a lengthy process that necessitates as many details as possible to be established before presenting to stakeholders. Here's where you should concentrate your efforts.

1.      Identify the Project Name, Purpose and General Timeline

Given the purpose of the project and the rest of the information you will fill in after this step, you can tell your project approvers that your project will take one quarter, six months, or one year.

You should also explain the purpose of your project to your project approver. Will the goal of your project be to better meet the needs of your customers? Perhaps a competitor has released an improved version of a product you already have, and you need to scale up to keep up with market demand. Whatever your ultimate goal is, make sure you state it right away.

2.      Put Your Work Plan into Context

Write an introduction and background to better explain why this project is important to you and why you decided to pursue that ultimate goal in the first place. Putting the situation in context and defining the problem will help you explain why you require the solution.

3.      Establish Your Goals and Objectives

Your objectives may sound similar to your purpose, but they're more specific and long-term in nature — for example, your team learned more about the process of releasing a bug fix or how to respond more directly to customer/market feedback.

Similarly, the goals of your project should be measurable. For example, after launch, this project's goal is to increase the number of active monthly subscribers by xx% or generate a certain amount of revenue.

It's best to use your SMART goals in this situation. Create a list of what is specific, measurable, achievable, relevant, and achievable within the project's time frame.

4.      Define and Coordinate Your Resources

When defining and coordinating your resources, keep the following questions in mind:

·         What percentage of the budget will be allocated to this project?

·         From which department will the funds be drawn?

·         Do you require any additional members of the team?

·         What software tools will be required to streamline the project (such as time tracking, team collaboration, and project management tools)? 

5.      Understand Your Constraints

Consider the three constraints of time, budget, and resources in particular. Because you've already listed all three in previous steps, you can now consider the risks that could obstruct those processes.

Perhaps some of your team members take a few sick days during this time; perhaps unexpected tasks must be completed; perhaps some of your tools fail, necessitating additional funds from the budget. Whatever your constraints are, consider anything that feels like a risk of becoming a full-fledged constraint, which could affect the completion of deliverables or even the project's goals and objectives.

Need more insights on the same? Enrol in a PMP course Mississauga today!

Read More

5 Project Management Errors You Need to Avoid!

 Here are 5 project management errors you should never make.

1.     Setting Goals Without Your Team Consent

Before setting goals and generating projections about upcoming projects, it is necessary to hold a kick-off project meeting with all team members. By ensuring that everyone understands their duties and responsibilities, a kick-off meeting may help you set the correct expectations and organize your team. It will also help you avoid making unreasonable timelines, which is one of the most common causes of project failure.

2.     Not Prioritizing Tasks and Projects

Not every project is the same. Some projects have a set deadline, while others don't. Some projects are more complicated and broader in scope than others. Most project managers fail to see this and start a project with a long deadline while ignoring a project with a short deadline. So, how will you manage all of your initiatives efficiently? This is when the prioritization of projects comes in handy. Tasks and sub-tasks should be prioritized down to the granular level. You may simply accomplish this by using online task management software.

3.     Incompetent Project Manager and Team

One of the repercussions of inadequate project management is project failure. One of the most common causes of project failure is the hiring of an inexperienced or inept project manager. 70 percent of project managers in small and medium-sized organizations lack formal training and are not recognized experts, which may surprise you. According to a report, certified project managers finish 80 percent of projects successfully.

4.     Letting Project Scope Grow Out of Proportion

Scope creep is a term used frequently in project management, but what does it mean? According to the project management courses online, scope creep is defined as "adding more features and functionality without addressing the effects on time, costs, and resources, or without customer permission." When projects aren't properly defined, documented, or controlled, this happens. This is one of the most serious project management problems that lead to project failure.

5.     Poor Communication with Team and Stakeholders

Your project's success can be jeopardized by poor communication and teamwork among your team members. Did you know that 57 percent of project failures are due to inadequate communication? Maintain frequent communication with your team and work to keep them working together toward a single goal.

Read More

The who and what of Project Managers!

Within an organisation, project managers are the point person in charge of a specific project or projects. We regularly feature project management resources to assist PMs in obtaining jobs in the industry or improving their current skills. As a result, we thought it would be a good idea to look at what core project manager qualifications are required, as well as define their responsibilities and common job descriptions for various PM roles.

What Does a Project Manager Do?

Project managers use project management tools to plan, budget, monitor, and report on the project. They may pitch the project idea or be assigned to it after it has already been approved. The project manager serves as a link between upper management, stakeholders, and the teams in charge of the project's execution. They ensure that the project plan is sound, that it is reported on on a regular basis, and that it is monitored to ensure that it is carried out within the approved budget and schedule.

A project is anything that has a beginning, middle, and end that results in a product, and its life cycle necessitates the oversight and leadership of a project manager. That means project managers work in a wide range of fields, including software development and information technology, human resources, advertising and marketing, construction, and everything in between.

How Much Does a Project Manager Make?

A project manager's salary is determined by a variety of factors, including experience, industry, and certifications, but in general, project managers are well compensated for their efforts, with salaries in the low six figures. Project management is an exciting career path with plenty of opportunities for those who are well-organized.

How to Become a Project Manager: Education and Certification

Working as a project manager can be done in a variety of ways. There is no single path, but there are more linear options, similar to learning a trade. After all, project management is a trade, and there are numerous trade schools and universities that offer a degree-granting programme.

Project management training and certifications are available outside of academia. PRINCE2 and the Project Management Institute are the two major certifying bodies (PMI). The latter offers the Project Management Professional (PMP) certification, which has become the industry standard for project management professionals. Project managers must have 35-60 months of project management experience, 35 hours of project management education, and pass a 180-question certification exam to obtain it.

Need more insights on the same? Enrol in PMP  training today!

Read More

Ace the PMP Exam prep with these unique tips!

Is it difficult to experience the PMP Exam prep? The vast majority say " yes "to this issue – it's not however inconceivable as it seemed to be. You will find that there are numerous basic patterns If that you search for the explanations behind the deficiency of a few up-and-comers. So we have set up four effective tips to assist you with succeeding the primary attempt at the PMP Exam – which will give your exam an unequivocal lift.

4 PMP Exam readiness tips

•                    Do NOT utilize such a large number of directions and books to design exams. In arranging the difficult certification exam, you will just need to clear the PMBOK direct and the 1-2 rule. You would be overpowered by such countless books and online courses. Ordinarily, the PMBOK manage is supplemented by a fruitful exam course and a prep book.

•                    Join gatherings. Join discussions. You can visit PMP discussions in which exam members are glad to share encounters during the exam. This is a significant part of the exam prep. It is sufficient to put in no time flat consistently, audit and remark. Try not to move diverted. Don't simply move diverted.

•                    Training is the main thing. Further perusing and goal of fake inquiries is remembered for acceptable survey. Settling banks in the most recent year is an amazing method to support your capacity to manage exam issues. Moreover, as well as assisting you with surveying the helpless branches of knowledge – the goal of false exams will get you to address the inquiry in a given 4-hour time frame. Frequently of equivalent importance is PMP Instruction – in the exam arranging.

•                    Prepare addresses dependent on recipes. Make a different area in your exam notes for all the key equations and wording. Remember them.- Memorize them. Recall from your cheat sheet before the exam starts and record the substance on the scratch cushion in the exam room. The mind dump is distinguished!

Try not to spare a moment to get back to a past question and change the appropriate response. You may locate that noting an inquiry offers an understanding into a prior question.

Need more insights on the same? Enrol in a PMP course Mississauga program today!

Read More

4 Best tips to get a high score in PMP Certification exam

As a recent PMP, I'd like to share some of my personal PMP exam tips to assist you in obtaining that designation and welcome you into our PMP brotherhood, which has over 1 million members worldwide as of June 2021.

1.     Attend a PMP exam prep course

Taking a PMP exam prep course was one of the things that helped me pass my exam. I strongly recommend taking an in-person course because you will be able to ask the instructor questions and receive immediate feedback. It was also beneficial to have peers with whom to work/study both during the course and afterward as a study group.

Creating a "placemat" document each morning of key information learned the previous day was one of the things we did during the exam prep course that was very helpful. When taking the PMP exam, you will be given a few sheets of blank paper on which you can jot down any information that comes to mind. This "brain dump" is ideal for jotting down formulas, the 49 project management processes, and any other useful tips and tricks you've picked up during your studies. I practised this almost every day in the weeks leading up to my exam. I had learned everything by the time I took the actual test, so there was very little I needed to write down.

2.     Take practice tests and (and more practice tests)

To best replicate the conditions, you'll face on Test Day, I recommend taking as many practise tests online as possible rather than on paper. If you get an 80 percent or higher on your practise tests, you're probably ready for the exam. In my prep course, I was able to find a package that included six practise tests that I could take as many times as I wanted. It would tell me why I got some answers wrong and where I could look up the answers in the PMBOK.

I also downloaded the iPhone app PMP Pocket Prep, based on a recommendation from my in-person Prep Course, and used it to take mini practise quizzes whenever I had free time.

3.     Read Rita Mulcahy’s book

Rita Mulcahy's PMP Exam Prep was extremely useful in assisting me in passing the exam. The book deconstructs the PMBOK's topics into easily digestible chunks. Quizzes at the end of each chapter, as well as a practise exam at the end of the book, are also included.

4.     Take the PMP Exam in The Morning

One final piece of advice for those studying for the exam is to take it in the morning. According to studies, your brain is at its best when tackling difficult tasks first thing in the morning. Another advantage is that instead of waiting all morning and stressing about the exam, you can go out that afternoon and celebrate your achievement if you take the exam in the morning.

I would not recommend studying the night before if you are taking the exam in the morning. As you prepare for the exam the next day, your brain will benefit from a little rest. 

Read More

7 Steps to craft a Scope Management Plan

What is Project Scope?

The goals and objectives of a project are defined by the scope of the project. The project scope outlines those objectives, as well as the deliverables, tasks required to complete the deliverables, costs, and deadlines. It is, in fact, the entire project's parameters.

Scope aids not only in defining the project's boundaries but also in determining who will be responsible for the project's tasks and the process that will be used to ensure that everything is completed correctly and approved. A scope statement, also known as a statement of work, is used to collect this information.

For project managers, the statement of work is crucial. Changes will occur in a project, but they must be managed to stay within scope, or the project's success will be jeopardized. A change request to the project's change control board is the only way to change the scope of a project.

When changing the scope of a project in construction, a change order form is used and must be approved by both the owner and the contractor.

What is a Scope Management Plan?

A scope management plan, like any other plan, is a set of procedures in place to ensure that the project includes all of the required tasks. The scope management plan focuses on how the scope is explained, developed, structured, and verified.

Project managers can define and map their project using a scope management plan, ensuring that it stays within the planned scope. The scope management plan assists project managers in allocating resources in such a way that the project is completed on time, on budget, and to the satisfaction of all stakeholders.

Project scope management is about:

•        Defining the work that must be done throughout the project

•        Controlling and monitoring those processes

•        Documenting and tracking to avoid scope creep when approving or disapproving changes

•        Closing, which includes an audit of deliverables and comparing the outcome to the plan

Steps for a Scope Management Plan

The steps to making a scope management plan are as follows:

1. Identify stakeholders and obtain their requirements.

2. Identify the project's goals and objectives in a detailed project scope statement.

3. Map out all of the necessary tasks using a work breakdown structure (WBS).

4. Establish a procedure for maintaining and approving the WBS.

5. Make a list of the project team's roles and responsibilities.

6. Establish a formal acceptance process for completed project deliverables.

7. Decide how to manage and track change requests in relation to the scope statement.

Need more insights on the same? Enrol in a PMP bootcamp program today!

Read More

Advantages and Disadvantages of a Fixed-Price Contract

 A fixed-price contract is one in which the job's agreed-upon price remains constant throughout the project. The price remains the same regardless of whether more time, materials, or labour is required than originally estimated. It's one of the easier construction contracts to understand.

As a result, the contractor's scope of work in their bid must be extremely precise. The customer is informed of the quote once it has been determined. If the customer accepts the work's price, it becomes final, and no changes in man-hours or material costs can be considered.

A ceiling price, a target price, or both are included in some fixed-price contracts. A fixed price with an economic price adjustment is also possible. A fixed-price contract's price, on the other hand, is usually set in stone.

What Are the Advantages and Disadvantages of a Fixed-Price Contract?

A price-fixed contract is one of several different types of contracts, and there are benefits and drawbacks to any contract used to reach an agreement between parties. Consider the following benefits and drawbacks of a fixed-price contract before deciding which to use:

·        They're simple to comprehend because the project's cost is clearly stated and will not fluctuate. This benefits both the customer and the contractor. The former has an idea of how much the project will cost, while the latter has an idea of how much they can spend. There are likely to be fewer disagreements now that everything is clear.

·         A price-fixed contract is profitable but risky, as bids must be extremely accurate to ensure that the contract can profit from the work. The contractor may be able to complete the project for less than the agreed-upon price, increasing their profit margin.

 

·       Changes may still be made during the project's execution, which will take time and may be costly. These changes are usually the result of unforeseeable circumstances, but they still add a step to the process that isn't covered by the contract.

•        Market prices fluctuate, which can have a positive or negative impact on the project. It's possible that supplies will become scarce or expensive. They can, of course, go even lower. Then there's the risk that comes with beginning any project. Contractors can be severely harmed by bad weather or other external factors.

•        The price-fixed contract's cost certainty has both positive and negative aspects. For starters, the customer is aware of the project's cost, which will not change. The contractor, on the other hand, is aware of this. This means they're more likely to charge more because they're factoring in risk more than they would in a more flexible agreement.

Need more insights on the same? Enrol in a PMP exam prep and training session today!

Read More