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PMI-RMP PMI Risk Management Professional

The Project Management Institute (PMI)® offers a professional credential for project risk managers, known as the PMI Risk Management Professional (PMI-RMP)®. PMIs professional credentialing examination development processes stand apart from other project management certification examination development practices. PMI aligns its process with certification industry best practices, such as those found in the Standards for Educational and Psychological Testing. A key component of this process is that organizations wishing to offer valid and reliable professional credentialing examinations are directed to use a role delineation study (RDS) as the basis for the creation of the examination. This process uses knowledge and task-driven guidelines to assess practitioner competence, and determine the level of salience, criticality, and frequency of each of the knowledge, tasks, and skills required to perform to the industry-wide standard in the role of a project risk manager. The role delineation study ensures the validity of an examination. Validation assures the outcome of the exam is in fact measuring and evaluating appropriately the specific knowledge and skills required to function as a project risk management professional. Thus, the role delineation study guarantees that each examination validly measures all elements of the project risk management profession in terms of real settings.
PMI-RMP® credential holders can be confident that their professional credential has been developed according to best practices of test development and based upon input from the practitioners who establish those standards. Please see Appendix A for a detailed description of the process. The PMI-RMP examination is a vital part of the activities leading to earning a professional credential; thus, it is imperative that the PMI-RMP examination reflect accurately the practices of the project risk management professional. All the questions on the examination have been written and extensively reviewed by qualified PMI-RMP credential holders and are supported by current project risk management published references. These questions are mapped against the PMI-RMP Examination Content Outline to ensure that an appropriate number of questions are in place for a valid examination. PMI retained Professional Examination Service (PES) to develop the global PMI-RMP Examination Content Outline. Since 1941, PES has provided a full range of assessment and advisory services to organizations across a broad range of professions, in support of professional licensure and certification, training, and continuing professional education. PES is dedicated to promoting the public welfare through credentialing as a mission-driven, not-for-profit organization. Finally, while the PMI-RMP Examination Content Outline, the Practice Standard for Project Risk Management and PMBOK® Guide have commonalities, it is important to note that those involved in the study described previously were not bound by the Practice Standard for Risk Management and/or PMBOK® Guide. They were charged with defining the roles of individuals assessing and identifying project risks, mitigating threats and capitalizing on opportunities, and using their experience and pertinent resources to help in this task. Although many of the domains, tasks, knowledge, and skills outlined by the PMI-RMP Examination Content Outline are also covered by the Practice Standard for Project Risk Management and PMBOK® Guide, there are some that are unique to the PMI-RMP Examination Content Outline. Candidates studying for the examination will certainly want to include the current edition of the Practice Standard for Project Risk Management and PMBOK® Guide as two of their references, and would be well advised to read other current titles on project risk management.

Risk Strategy and Planning 19–20%
Stakeholder Engagement 19–20%
Risk Process Facilitation 25–28%
Risk Monitoring and Reporting 19–20%
Perform Specialized Risk Analyses 14–16%
Total 100%

Tasks Risk Strategy and Planning (19–20%)
Task 1 Develop risk assessment processes and tools that quantify stakeholder risk tolerances in order to assess and determine risk thresholds for the project and set criteria for risk levels. Task 2 Update risk policies and procedures using information such as lessons learned from projects and outputs of risk audits in order to Boost risk management effectiveness. Task 3 Develop and recommend project risk strategy based on project objectives in order to establish the outline for the risk management plan. Task 4 Produce risk management plan for the project on the basis of inputs such as project information, external factors, stakeholder inputs, and industry policies and procedures in order to define, fund, and staff effective risk management processes for the project that align with other project plans. Task 5 Establish evaluation criteria for risk management processes based on project baselines and objectives in order to measure effectiveness of the project risk process.
Knowledge of:
 Continuous process improvement as applied to risk management
 Knowledge management techniques for organizing and providing access to project risk information
 Metrics for measuring effectiveness of project risk process
 Risk attitude concepts
 Risk Breakdown Structure (RBS)
 Risk tolerance concepts
 Barriers to effective risk management
 Project risk management inputs, tools, techniques, and outputs
 Project risk contingency and management reserve
 Research and analysis techniques
 Basic strategy development methodologies

Tasks Stakeholder Engagement (19–20%)
Task 1 Promote a common understanding of the value of risk management by using interpersonal skills in order to foster an appropriate level of shared accountability, responsibility, and risk ownership.
Task 2 Train, coach, and educate stakeholders in risk principles and processes in order to create shared understanding of principles and processes, and foster engagement in risk management.
Task 3 Coach project team members in implementing risk processes in order to ensure the consistent application of risk processes.
Task 4 Assess stakeholder risk tolerance using processes and tools such as interviewing stakeholders and reviewing historical stakeholder behaviors in order to identify project risk thresholds.
Task 5 Identify stakeholder risk attitudes and cognitive biases using stakeholder analysis techniques in order to manage stakeholder expectations and responses throughout the life of the project.
Task 6 Engage stakeholders on risk prioritization process based on stakeholder risk tolerance and other relevant criteria, in order to optimize consensus regarding priorities.
Task 7 Provide risk-related recommendations to stakeholders regarding risk strategy and planning, risk process facilitation, risk reporting, and specialized risk tasks by using effective communication techniques in order to support effective risk-based decision making.
Task 8 Promote risk ownership by proactively communicating roles and responsibilities and engaging project team members in the development of risk responses in order to Boost risk response execution.
Task 9 Liaise with stakeholders of other projects by using effective communication techniques and sharing information on project risk performance in order to inform them of implications for their projects.
Knowledge of:
 Information resources, both internal (for example, OPA) and external (for example, EEF)
 Project performance information
 Stakeholder sensitivity analysis models
 Training and coaching techniques
 Types of stakeholder risk attitudes (including but not limited risk seeking, risk tolerant, and risk averse)
 Group decision making
 Group creativity (including but not limited to brainstorming, nominal group technique, Delphi technique, idea/mind mapping, and affinity diagram)
Skills in:
 Assessing stakeholder risk tolerance (appetite and attitude)
 Collaborating with stakeholders
 Managing teams in multicultural environments
 Influencing change

Tasks Risk Process Facilitation (25–28%)
Task 1 Apply risk assessment processes and tools in order to quantify stakeholder risk tolerances and determine risk levels.
Task 2 Facilitate risk identification using a variety of techniques in order to enable the project team and stakeholders to understand and determine the risk exposure of the project.
Task 3 Facilitate the project teams evaluation of the identified risks attributes using qualitative and quantitative tools and techniques in order to prioritize the risks for response planning.
Task 4 Facilitate the development of an aligned risk response strategy and related risk actions by risk owners from the information gathered during risk analysis in order to ensure timely and defined action when required.
Task 5 Facilitate the formulation of project contingency reserve based on the risk exposure of the project in order to have the capability and resources to respond to realized risks.
Task 6 Provide risk data to cost and schedule analysts/estimators to ensure that project risk is properly reflected in cost and schedule estimates for the project.
Task 7 Use scenarios to validate potential risk responses and evaluate key dependencies and requirements in order to enhance the likelihood of project success.
Knowledge of:
 Basic risk identification tools and techniques for both threats and opportunities (including but not limited to brainstorming, checklists, prompt lists, assumptions and constraints analysis, interviews, questionnaires, cause and effect analysis, SWOT analysis, document review, affinity diagrams, and lessons-learned review from similar projects)
 Basic qualitative risk analysis tools and techniques (including but not limited to probability-impact matrices, risk scoring, Risk Breakdown Structure analysis, root cause analysis, Pareto prioritization analysis, and risk metric trend analysis)
 Basic quantitative risk analysis tools and techniques (including but not limited to Monte Carlo analysis, decision trees, FMEA/FMECA/Fault Tree analysis, and sensitivity analysis)
 Heuristics and other dynamic sources of cognitive biases and their associated effects on risk perception and behavior
 Risk response strategy types
 Contingency management tools and techniques
 Risk monitoring and control techniques
 Group decision making
 Group creativity (including but not limited to brainstorming, nominal group technique, Delphi technique, idea/mind mapping, and affinity diagram)
Skills in:
 Using analytical software tools for project risk management
 Managing teams in multicultural environments
 Estimating probability and impact of identified risks

Task 1 Document and periodically update project risk information using standard tools (including but not limited to risk register, risk database) and techniques in order to maintain a single, current repository of all project risk information.
Task 2 Coordinate with project manager using communication techniques in order to integrate risk management throughout the project.
Task 3 Create periodic standard and custom reports using risk-related metrics as specified in the risk management plan in order to communicate risk management activities and status.
Task 4 Monitor risk response metrics by analyzing risk response performance information, and present to key stakeholders in order to ensure resolution of risk and develop additional risk response strategies to address residual and secondary risks.
Task 5 Analyze risk process performance against established metrics in order to drive risk process improvements.
Task 6 Update the project risk management plan using relevant internal and external inputs in order to keep the plan current.
Task 7 Capture risk lessons learned through comprehensive review of the project risk management plan, risk register, risk audits, risk process performance reports, and other associated reports in order to incorporate into future risk planning.
Knowledge of:
 Continuous process improvement and quality management as applied to risk management
 Knowledge management techniques for organizing and providing access to project risk information
 Alternative formats for project risk reports (for example, Top Risk List, Risks Transitioned to Issues, Response Plans Behind Schedule, Risk Triggers, and Risk Outcomes)
 Requirements for risk register data fields
 Risk statement construction
 Risk response activity construction
 Risk response metrics
 Risk process performance metrics
 Risk assessment analysis metrics
 Risk management reserves

Tasks Perform Specialized Risk Analyses (14–16%)
Task 1 Evaluate the attributes of identified risks using advanced quantitative tools and specialized qualitative techniques in order to estimate overall risk exposure of the project.
Task 2 Analyze risk data produced during the project using statistical analyses and expert judgment in order to determine strengths and weaknesses of risk strategy and processes and recommend process improvements when indicated.
Task 3 Perform specialized risk analysis using advanced tools and techniques in order to support stakeholder decision making for the project.
Knowledge of:
 Advanced risk identification tools and techniques for both threats and opportunities (including but not limited to force field analysis, scenario planning, futures thinking, visualization, Delphi groups, and nominal group technique)
 Advanced quantitative risk analysis tools and techniques (including but not limited to, integrated cost/schedule analysis, advanced Monte Carlo analysis, system dynamics, bowtie analysis, analytical hierarchy process, risk-based earned value analysis, risk-based critical chain analysis, and multi-factor regression analysis, modeling techniques, advanced risk metric analysis [including statistical process control])
 Tools and techniques for identifying and analyzing overall project risk (including but not limited to risk efficiency index, risk tolerance analysis, risk reserve analysis, risk metric trend analysis, risk taxonomy, risk connectivity analysis, Monte Carlo analysis against overall project objectives, project risk surveys, and correlation analysis)
 Basic and advanced statistics
 Estimation tools and techniques to support risk decision making (including but not limited to prioritization, cost-benefit analysis, analogous, parametric, and bottom-up)
 Advanced theory of heuristics and other sources of cognitive bias
 Variance/Earned Value Analysis

Knowledge of:
 Project risk management processes, frameworks, and theory (in line with the PMI Practice Standard for Project Risk Management)
 Basic project management theory, methodologies, and practice (as described in the PMBOK® Guide)
 Risk principles and guidelines as described in ISO31000
 Communication tools, techniques, models, and channels
 Facilitation tools and techniques
 Negotiation tools and techniques
 Leadership theory as it relates to risk management
 Organizational theory as it relates to risk management
 Risk taxonomy
 PMI Code of Ethics and Professional Conduct
Skills in:
 Effective oral, graphical, and written presentation
 Tailoring information to all levels of stakeholders
 Conducting effective interviews
 Gathering, managing, analyzing, and validating data
 Problem solving
 Active listening
 Conflict resolution
 Expressing complex and abstract information
 Influencing without authority
 Coaching and mentoring

PMI Risk Management Professional
PMI Professional mission
Killexams : PMI Professional mission - BingNews https://killexams.com/pass4sure/exam-detail/PMI-RMP Search results Killexams : PMI Professional mission - BingNews https://killexams.com/pass4sure/exam-detail/PMI-RMP https://killexams.com/exam_list/PMI Killexams : Project management: Tips, tools, best practices

What is project management?

Project management is a business discipline that involves applying specific processes, knowledge, skills, techniques, and tools to successfully deliver outcomes that meet project goals. Project management professionals drive, guide, and execute company-identified value-added goals by applying processes and methodologies to plan, initiate, execute, monitor, and close all activities related to a given business project in alignment with the organization’s overall strategic objectives.

Project management steps

Project management is broken down into five phases or life cycle. Each phase intersects with any of 10 knowledge areas, which include: integration, scope, time, cost, quality, human resources, communication, risk procurement, and stakeholder management. The phases, processes and associated knowledge areas provide an organized approach for project managers and their teams to work through projects, according to the following outline:

Initiating phase:

  • Integration management: Develop project charter.
  • Stakeholder management: Identify stakeholders.

Planning phase:

  • Integration management: Develop project management plan.
  • Scope management: Define scope, create work breakdown structure (WBS), gather requirements.
  • Time management: Plan and develop schedules and activities, estimate resources and timelines.
  • Costs management: Estimate costs, determine budgets.
  • Quality management: Identify quality requirements.
  • Human resource management: Plan and identify human resource needs.
  • Communications management: Plan stakeholder communications.
  • Risk management: Perform qualitative and quantitative risk analysis, plan risk mitigation strategies.
  • Procurement management: Identify and plan required procurements.
  • Stakeholder management: Plan for stakeholder expectations.

Execution phase:

  • Integration management: Direct and manage all project work.
  • Quality management: Performing all aspects of managing quality.
  • Human resource management: Select, develop, and manage the project team.
  • Communications management: Manage all aspects of communications.
  • Procurement management: Secure necessary procurements.
  • Stakeholder management: Manage all stakeholder expectations.

Monitoring and controlling phase:

  • Integration management: Monitoring and control project work and manage any necessary changes.
  • Scope management: Validate and control the scope of the project.
  • Time management: Control project scope.
  • Costs management: Controlling project costs.
  • Quality management: Monitor quality of deliverables.
  • Communications management: Monitor all team and stakeholder communications.
  • Procurement management: Keep on top of any necessary procurements.
  • Stakeholder management: Take ownership of stakeholder engagements.

Closing phase:

  • Integration management: Close all phases of the project.
  • Procurement management: Close out all project procurements.

Stakeholder expectations

Stakeholders can be any person or group with a vested stake in the success of a project, program, or portfolio, including team members, functional groups, sponsors, vendors, and customers. Expectations of all stakeholders must be carefully identified, communicated, and managed. Missing this can lead to misunderstandings, conflict, and even project failure.

Here are some tips for managing stakeholder expectations.

  • Assemble a team specific to project goals, ensuring team members have the right mix of skills and knowledge to deliver.
  • Leave sufficient time in advance of a project for key individuals to delve into and discuss issues and goals before the project begins.
  • Ensure the project timeline and scheduled tasks are realistic.

Project scope

During the planning phase, all project details must be solidified, including goals, deliverables, assumptions, roles, tasks, timeline, budget, resources, quality aspects, terms, and so on. The customer and key stakeholders work together to solidify and agree on the scope before the project can begin. The scope guides the project work and any changes to the scope of the project must be presented and approved as a scope change request.

Project budgets

Budgets play a large role in whether a project progresses, or if it can be completed. Few companies have an unlimited budget, so the first thing project stakeholders look at in determining whether a project succeeded or failed is the bottom line. This fact fuels the pressure project leaders, and their teams face with each passing day. As such, effective budget management is a primary area of focus for project managers who value their careers. The following are five strategies for maintaining control of your project budget before it succumbs to whopping cost overruns:

  • Understand stakeholder’s true needs and wants
  • Budget for surprises
  • Develop relevant KPIs
  • Revisit, review, re-forecast
  • Keep everyone informed and accountable

Project management methodologies

Most projects are conducted based on a specific methodology for ensuring project outcomes based on a range of factors. As such, choosing the right project management methodology (PMM) is a vital step for success. There are many, often overlapping approaches to managing projects, the most popular of which are waterfall, agile, hybrid, critical path method, and critical chain project management, among others. Agile, which includes subvariants such as Lean and Scrum, is increasing in popularity and is being utilized in virtually every industry. Originally adopted by software developers, agile uses short development cycles called sprints to focus on continuous improvement in developing a product or service.

PMO vs. EPMO

Successful organizations codify project management efforts under an umbrella organization, either a project management office (PMO) or an enterprise project management office (EPMO).

A PMO is an internal or external group that sets direction and maintains and ensures standards, best practices, and the status of project management across an organization. PMOs traditionally do not assume a lead role in strategic goal alignment.

An EPMO has the same responsibilities as a traditional PMO, but with an additional key high-level goal: to align all project, program, and portfolio activities with an organization’s strategic objectives. Organizations are increasingly adopting the EPMO structure, whereby, project, program, and portfolio managers are involved in strategic planning sessions right from the start to increase project success rates.

PMOs and EPMOs both help organizations apply a standard approach to shepherding projects from initiation to closure. In setting standard approaches, PMOs and EPMOs offer the following benefits:

  • ground rules and expectations for the project teams
  • a common language for project managers, functional leaders, and other stakeholders that smooths communication and ensures expectations are fully understood
  • higher levels of visibility and increased accountability across an entire organization
  • increased agility when adapting to other initiatives or changes within an organization
  • the ready ability to identify the status of tasks, milestones, and deliverables
  • relevant key performance indicators for measuring project performance

Project management roles

Depending on numerous factors such as industry, the nature and scope of the project, the project team, company, or methodology, projects may need the help of schedulers, business analysts, business intelligence analysts, functional leads, and sponsors. Here is a comparison of the three key roles within the PMO or EPMO, all are in high demand due to their leadership skill sets.

Project manager: Plays the lead role in planning, executing, monitoring, controlling, and closing of individual projects. Organizations can have one or more project managers.

Program manager: Oversees and leads a group of similar or connected projects within an organization. One or more project managers will typically report to the program manager.

Portfolio manager: This role is at the highest level of a PMO or EPMO and is responsible for overseeing the strategic alignment and direction of all projects and programs. Program managers will typically report directly to the portfolio manager.

Project management certification

Successful projects require highly skilled project managers, many with formal training or project management certifications. Some may have project management professional certifications or other certifications from the PMI or another organization. Project management certifications include:

  • PMP: Project Management Professional
  • CAPM: Certified Associate in Project Management
  • PgMP: Program Management Professional
  • PfMP:Portfolio Management Professional
  • CSM: Certified Scrum Master
  • CompTIA Project+ Certification
  • PRINCE2 Foundation/PRINCE2 Practitioner
  • CPMP: Certified Project Management Practitioner
  • Associate in Project Management
  • MPM: Master Project Manager
  • PPM: Professional in Project Management

Project management software and templates increase team productivity and effectiveness and prepare the organization for changes brought about by high-impact projects. CIO.com has compiled the ultimate project management toolkit as well as some open-source project management tools to help you plan, execute, monitor, and successfully polish off your next high-impact project.

Project management software falls into multiple categories. Some tools are categorized as project management software; others are more encompassing, such as project portfolio management (PPM) software. Some are better suited for small businesses and others for larger organizations. Project managers will also often use task management, schedule management, collaboration, workflow management, and other types of tools. These are just a few examples of the project management software and tools available to help simplify project management.

Popular project management tools include:

Project management skills

Effective project managers need more than technical know-how. The role also requires several non-technical skills, and it is these softer skills that often determine whether a project manager — and the project — will be successful. Project managers must have these seven non-technical skills: leadership, motivation, communication, organization, prioritization, problem-solving, and adaptability. It’s also beneficial to have a strategic mindset, have change management and organizational development expertise, agility, and conflict resolution capabilities, among other skills.

Project management jobs and salaries

By 2027, the demand for project managers will grow to 87.7 million, according to PMI, but these hires won’t all be project manager titles. While the more generic titles are project manager, program manager, or portfolio manager, each role may differ depending on industry and specialization. There are also coordinators, schedulers, and assistant project managers, among other roles.

Project managers have historically garnered high-paying salaries upwards of six figures, depending on the role, seniority, and location. Indeed provides a searchable list for job salaries, including some annual project management salaries companies are offering for these roles: 

  • Project manager: Base salary $85,311, bonus $13,500
  • Program manager: $85,796
  • Portfolio manager: $100,742
  • Software/IT project manager: $106,568
  • Project administrator: $62,093
  • Project planner: $69,528
  • Project controller: $90,342
  • Document controller: $74,899
  • Project leader: $130,689
  • Program/project director: $101,126
  • Head of program/project: $128,827
Sun, 04 Dec 2022 11:59:00 -0600 en-US text/html https://www.cio.com/article/228109/project-management-tips-strategies-best-practices.html
Killexams : Best Business Certifications

A shrewd business professional looks for ways to move up (or over) to Boost their salary, benefits and job opportunities. One way to reach that goal is by getting a business certification.

It’s tricky to nail down what constitutes a “business certification.” Think about the sheer number of lines of business (LOBs) in U.S. companies, and that most LOBs can have multiple associated certifications. To narrow our focus, we looked at general business and management credentials, as well as customer resource management, supply chain, sales and purchasing certifications. Although most of the certifications we selected are vendor-agnostic – not tied to a specific system or application – we researched several credentials from SAP, SAS and similar companies that specialize in business applications.

These are the certifications we examined:

  • Certified Associate in Project Management
  • Certified Business Analysis Professional
  • Certified Supply Chain Professional
  • Project Management Professional (PMP)
  • SAP Certified Application Associate – Business Planning and Consolidation
  • Salesforce Certified Administrator
  • HubSpot Inbound Marketing
  • Oracle Certified Professional (OCP)

Whether you’re just starting out in a professional track or have been at it for a while, you should find one or more of the certifications described in this article of interest and value.

Top 8 certifications, by the numbers

The following table lists the top business-related certifications based on the number of open positions on a single day that call for the certification specifically. This isn’t a scientific analysis in which every job description is examined (especially when the numbers reach into the hundreds or thousands); it’s just an overall glance at search numbers as of Dec. 23, 2020.

Job site search results

Certification SimplyHired LinkedIn Jobs Total
Certified Associate in Project Management (CAPM) 528 988 1,516
Certified Business Analysis Professional (CBAP) 246 399 645
Certified Supply Chain Professional (CSCP) 426 791

1,217

Project Management Professional (PMP) 11,910 20,485 32,395
SAP Certified Application Associate – Business Planning and Consolidation 340 728 1,068
Salesforce Certified Administrator 694 1,170 1,864
HubSpot Inbound Marketing 599 108 707
Oracle Certified Professional (OCP) 830 1,444 2,274

The following sections provide details on the top business certifications according to job site searches, as well as other certifications from their various organizations.

Certified Associate in Project Management (CAPM)

The Project Management Institute (PMI) has been around since 1969, helping business workers develop careers in project management, mainly through professional development and certifications.

The Certified Associate in Project Management (CAPM) is ideal for up-and-coming project managers. You need to show proof of a high school diploma, associate degree or global equivalent. The single exam has 150 questions, costs $225 for PMI members or $300 for nonmembers, and is available through Pearson VUE. By the time you take the exam, you need to have attained 1,500 hours of project experience or 23 hours of project management education. The certification is valid for five years, and you must retake the exam to maintain the credential.

PMI has other certifications aimed at the business community, such as the Project Management Professional (PMP), PMI Professional in Business Analysis (PMI-PBA), Portfolio Management Professional (PfMP), Program Management Professional (PgMP) and PMI Scheduling Professional (PMI-SP).

Certified Business Analysis Professional (CBAP)

If you’re interested in analyzing business needs and coming up with solutions, take a look at the Certified Business Analysis Professional (CBAP) by the International Institute of Business Analysis (IIBA). The CBAP is an advanced certification aimed at managers and leaders with more than five years of business analysis experience. More precisely, you need at least 7,500 hours of business analysis experience over the last decade, and 900 of those hours must directly relate to four of the six BABOK Guide knowledge areas. On top of that, you need at least 35 hours of professional development credits (earned over the last four years), plus two references.

The CBAP exam has 120 multiple-choice questions, based on scenarios and case studies, and is available through PSI. The exam costs $325 for IIBA members or $450 for nonmembers, and a $125 application fee is required. To maintain the CBAP, credential holders must earn at least 60 continuing development units within three years of achieving certification.

The IIBA offers related credentials, such as the Entry Certificate in Business Analysis (ECBA), Certificate of Capability in Business Analysis (CCBA), Agile Analysis Certification (IIBA-AAC) and Certification in Business Data Analytics (IIBA-CBDA).

Certified Supply Chain Professional (CSCP)

APICS is all about supply chain management. As part of its goal to develop qualified operators, supervisors and leaders, it offers the Certified Supply Chain Professional (CSCP) and a few other certifications. The CSCP covers supply chain concepts and technology, plus strategies for end-to-end operations, from provider to company to consumer.

To earn the CSCP, you need a bachelor’s degree or equivalent, at least one other approved certification, and at least three years of related business experience. You also need to pass an exam that costs $695 to $965, depending on your APICS membership status.

Project Management Professional (PMP)

The Project Management Professional (PMP) from PMI is among the most recognized and sought-after certifications for both business and IT. The requirements are stiff. Option one requires a high school diploma, associate degree or global equivalent; 7,500 hours of experience leading projects; and 35 hours of project management education. Option two is a four-year degree, 4,500 hours leading projects and 35 hours of project management education. [Read related article on our sister site Business News Daily: Best Project Management Certifications]

You must pass a 200-question exam to earn the PMP, which is available through Pearson VUE. The exam costs $405 for PMI members and $555 for nonmembers. You maintain the PMP certification by earning 60 professional development units (PDUs) every three years. 

SAP Certified Application Associate – CRM

Are you SAP savvy? SAP, a European multinational software program, stands for “systems, applications and products.” The software is used by companies around the world to manage business operations and customer relationships across several lines of business, including human resources, marketing, sales, manufacturing and supply chain.

The SAP Certified Application Associate – CRM recognizes a consultant’s skills in understanding and using SAP CRM software, including how it integrates with other SAP solutions like NetWeaver. SAP recommends that candidates have a combination of experience and training before sitting for the certification exam; training courses are available if needed. The exam has 80 questions and costs $571. You can take the exam through the SAP Certification Hub.

Salesforce Certified Administrator

If you’ve ever worked with or considered using a customer relationship management (CRM) platform, you’ve likely heard of Salesforce. From help desk and lead management to sales and customer service, Salesforce is an all-in-one CRM platform that scales with a business’s needs as it grows. The platform has become so popular since its launch in 1999 that it’s considered an industry leader and won our best pick for enterprise CRM usage.

If you’re looking to leverage the platform at an administrative level, Salesforce offers a certification program to increase your knowledge of the platform. The program requires you to take several classes and workshops before completing a proctored credential exam. The classes and exam typically cost a few thousand dollars.

Salesforce suggests that anyone seeking this certification should already have a decent handle on the platform, since the certification seeks to build upon their understanding of existing features and functions. Once you complete this program, the company also offers the Advanced Administrator certification to further your knowledge of the platform.

HubSpot Inbound Marketing

HubSpot is a CRM platform that helps businesses handle their marketing, sales and help desk needs. While the platform covers various specialties, the HubSpot Inbound Marketing certification teaches how to use content creation, social media and other inbound marketing methods to your advantage.

This is a free certification course comprising seven lessons, complete with 34 videos and eight quizzes, that takes slightly over four hours in all.  

Oracle Certified Professional (OCP)

Oracle is a leading cloud database software company that helps apply the nebulous digital concept to numerous business functions. More than 2.2 million people have earned their Oracle Certified Professional credentials, and our initial research found over 2,000 job openings for the designation.

With numerous certification paths spanning the platform’s cloud-based and on-premises software and hardware solutions, Oracle offers free learning courses in a wide range of specialties. Once you’re ready for an exam, you must purchase a voucher at prices ranging from $95 to $245. These vouchers are good for six months, giving you enough time to hone your skills with the Oracle platform before committing to a test.

What else?

The American Purchasing Society is the membership organization behind the Certified Purchasing Professional (CPP), Certified Professional Purchasing Manager (CPPM), Certified Green Purchasing Professional (CGPP), Certified Professional in Distribution and Warehousing (CPDW), and Certified Professional Purchasing Consultant (CPPC) programs.

If your career involves the creation, use, retrieval and disposal of business records, check out the Institute of Certified Records Managers (ICRM), Certified Records Analyst (CRA) and Certified Records Manager (CRM) programs.

On the global front, the Institute of Management Consultants offers the Certified Management Consultant (CMC) certification, and NASBITE’s Certified Global Business Professional (CGBP) focuses on global business management and marketing, supply chain management, and trade finance.

Finally, the Business Relationship Management Institute has two certifications: the Business Relationship Management Professional (BRMP) and Certified Business Relationship Manager (CBRM).

Andrew Martins contributed to the writing and research in this article.

Mon, 21 Nov 2022 10:00:00 -0600 en text/html https://www.business.com/articles/best-business-certifications/
Killexams : Delivering business value through project management

Project managers are responsible for understanding the vision and meeting the strategic objectives of any project. A key aspect of portfolio and project management is choosing the projects that the organization should undertake. Multi-disciplinary program managers must be aware of every aspect of all the projects, so that they can bring everything together. Typically, the success of a project is determined by the time taken and the budget consumed to complete it - but it is the delivery of business value that remains the most crucial factor in customer satisfaction.

Organizations have long turned to project managers to help them turn ideas into reality – these professionals take charge from the get-go until the project is delivered, ensuring a constant check on its progress. All in all, what truly sets this community apart is its focus on implementation — figuring out how to make something concrete out of an audacious goal.

Best practices to tackle complexity

PMI helps executives develop capabilities to effectively sponsor projects, and trains managers in modern project management.

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PMI helps executives develop capabilities to effectively sponsor projects, and trains managers in modern project management.

Most projects have an inherent level of complexity that project managers have to deal with. There could be certain challenges – foreseen or unforeseen – that may come up, forcing the project to lose pace. However, to avoid making the mistake of starting a project that should not see the light of day, project managers must consider the value that will be delivered to the customer before beginning. Once the project manager has captured the project's vision, understanding how that vision translates into true business value is critical. The business value should be stated in monetary terms wherever possible, but there are also non-monetary benefits that can be realised and identified.

PMI helps executives develop capabilities to effectively sponsor projects, and trains managers in modern project management. The role of a project manager is not only about delivering the intended business outcomes – but they must also be adept at motivating their team to deliver customer satisfaction through a product or service. This is a key factor that will help the other members stay more engaged in their work, pushing them to bring the project's vision to life.

It's essential for a project manager to report on the progress of a project at frequent intervals, ensuring that corrective measures are implemented, in case anything goes off track. "It is equally important to focus on people competency by finding the right people and training them to become aware of the context of the environment to manage the expectations of the stakeholders," highlighted Joe Cahill, Chief Customer Officer (COO), PMI

Delivering transformational projects

Project managers possess the capabilities to deliver inspiring solutions that have the power to transform industries.

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Project managers possess the capabilities to deliver inspiring solutions that have the power to transform industries.

The global community stands at a critical juncture today, dabbling with problems of the present while envisioning a more seamless feature. The environment is likely to turn more challenging as the journey progresses – yet project managers possess the capabilities to deliver inspiring solutions that have the power to transform industries. These professionals are nothing short of changemakers – as is evident from their contribution to some of the most influential projects in the world.

Recently, PMI announced its fourth annual list of 'Most Influential Projects' that showcased the top 50 influential projects this year. The list highlights the progress project teams have made on innovative projects in education, climate action, architecture, technology, healthcare, and more.

One of the most pertinent projects – Project Cheetah – the world's first intercontinental carnivore translocation – achieved success, with the consistent support of several stakeholders. Reintroducing another big cat to India after seven decades of it being declared extinct was no mean feat – but several teams of inspiring professionals, led by project managers made this a reality. The project involved multiple stakeholders, including the Wildlife Institute of India, the National Tiger Conservation Authority, and the Ministry of Environment, Forest, and Climate Change.

Another project that has attempted to shift the narrative in the country is STEM for Girls, rolled out by tech major IBM with a mission to provide tech training to 30 million people by the year 2030. Launched in May 2022 in partnership with the Government of Arunachal Pradesh Department of Education – the project aims to provide digital fluency training, coding skills, and life and career skills to 13,500 students in grades 8 to 10. IBM and state leaders are creating a resource group to roll out the tech-forward model across 130 schools, preparing the ground for a secure future for young girls.

Here are the 8 influential projects from India that featured in PMI's 'Most Influential Projects' list: 

1. Metaverse Studio: For helping architects explore a new digital dimension of design

2. Koo Multi-Language Tool: For letting social media users connect and converse—in the moment, in their own language 

3. Open-for-All Digital Ecosystem: For empowering even the smallest Indian companies with the fintech tools they need

4.Project Cheetah: For reintroducing another big cat to India

5. Secure Sanand: To create an environment for technology that uplifts the spirits of those in the workplace 

6. Battery-Sharing Service: For creating a battery-sharing network for rickshaw drivers across India 

7. Nimo Beta: For those looking to work remotely without a laptop or even a smartphone

8. STEM for Girls: 

For providing tech training to 30 million people by the year 2030

A promising future

Fast-growing economies like India are bound to benefit from developing project management capabilities that allow for greater agility, transformation, and value creation.

"Over the years, companies and governments will undergo change, and it's important to note that most of the change innovation happens with projects. That's exactly why several teams that span across geographies are in dire need of project managers," Cahill added.

PMI offers certifications that are based on rigorous standards and ongoing research. Through these certifications, project professionals can demonstrate that they have mastered the strategies, tools, and communication skills that are required to drive forward the projects, asserted Cahill.

In the past, a project's success was measured based on its ability to deliver a quality scope on time and within budget. Although these factors are important to consider and control as a project progresses, they are not a true measurement of the success of a project. A project can only be considered successful if it delivers the predetermined business value to the customer. Organizations that look at project management as a critical aspect in delivering increased value to their customers will see a tangible impact on their bottom line.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Mint. Mint does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Mint shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.

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Tue, 06 Dec 2022 20:50:00 -0600 en text/html https://www.livemint.com/brand-stories/delivering-business-value-through-project-management-11670407655364.html
Killexams : PMI Hosts Largest Community of Project Professionals at PMI® Global Summit 2022

PHILADELPHIA--(BUSINESS WIRE)--Dec 5, 2022--

Project Management Institute (PMI) held PMI Global Summit 2022, its largest annual gathering of project, program, and portfolio professionals at Caesar’s Palace in Las Vegas from 1-3 December. The event included opening keynote remarks from Futurist and Best-Selling Author Amy Webb and closing keynote remarks from Innovator and CEO of Uncharted Jessica O. Matthews.

The three-day conference brought together 3,500 project leaders in person, and more than 3,000 virtual attendees to learn from key players in the industry and earn PDUs and gain valuable knowledge as they network with individuals across the profession. During the event, more than 140 subject matter experts and speakers held various educational sessions on courses ranging from strategic alignment to agility and transformation. PMI also held a newly revitalized awards celebration, themed “ILLUMINATE!”, honoring Ideas and Outstanding Teamwork.

“Global Summit provides a unique opportunity for our community to gather and share ideas, grow their networks, and celebrate their successes,” said Pierre Le Manh, President and Chief Executive Officer of Project Management Institute. “As this year’s event comes to a close, we’re energized by our community’s passion and excited to continue being a trusted resource and home for project professionals across the globe.”

At the event, leaders discussed the latest PMI® Pulse of the Profession® report, a report created from a premier annual global survey of project professionals, launched earlier this week. The survey found that organizations that prioritize power skills – including communication, problem-solving, collaborative leadership, and strategic thinking – perform better against multiple key drivers of success.

As another way to bring the Global Summit programming to our community, on 1 December, PMI held the final installment of the award-winning Virtual Experience Series 2022, featuring educational sessions livestreamed from PMI Global Summit, including our opening keynote Amy Webb, and an abundance of great content and exhibits. Don’t miss out on this opportunity to learn, network, and earn 9+ PDUs. On-demand access will be available through 31 January 2023. Learn more here.

Registration for PMI ® Global Summit 2023 will open in early 2023.

About Project Management Institute (PMI)

Project Management Institute (PMI) is the leading professional organization for project management, and the authority for a growing global community of millions of project professionals and individuals who use project management skills. Collectively, these professionals and "changemakers" consistently create better outcomes for businesses, community, and society worldwide.

PMI empowers people to make ideas a reality. Through global advocacy, networking, collaboration, research, and education, PMI prepares organizations and individuals at every stage of their career journey to work smarter so they can drive success in a world of change.

Building on a proud legacy dating to 1969, PMI is a not-for-profit, for-purpose organization working in nearly every country around the world to advance careers, strengthen organizational success, and enable project professionals and changemakers with new skills and ways of working to maximize their impact. PMI offerings include globally recognized standards, certifications, online courses, thought leadership, tools, digital publications, and communities.

Visit us at www.PMI.org, www.projectmanagement.com, www.facebook.com/PMInstitute and on Twitter @PMInstitute.

View source version on businesswire.com:https://www.businesswire.com/news/home/20221205005544/en/

CONTACT: MaryKate Dougherty

External Communications Specialist

MaryKate.Dougherty@pmi.org

KEYWORD: UNITED STATES NORTH AMERICA NEVADA PENNSYLVANIA

INDUSTRY KEYWORD: CONSULTING BUSINESS PROFESSIONAL SERVICES TRAINING EDUCATION

SOURCE: Project Management Institute

Copyright Business Wire 2022.

PUB: 12/05/2022 11:00 AM/DISC: 12/05/2022 11:02 AM

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Mon, 05 Dec 2022 02:20:00 -0600 en text/html https://www.joplinglobe.com/region/national_business/pmi-hosts-largest-community-of-project-professionals-at-pmi-global-summit-2022/article_0e1b6249-1e83-55a8-b368-a621da71107d.html
Killexams : How Much Does Private Mortgage Insurance (PMI) Cost?

By clicking "See Rates", you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders.

The cost of private mortgage insurance (PMI) is based on the loan amount, the borrowers' creditworthiness and the percentage of a home’s value that would be paid out for a claim. Generally, all companies that sell mortgage insurance price their policies this way. Regardless of the value of a home, most mortgage insurance premiums cost between 0.5% and as much as 5% of the original amount of a mortgage loan per year. That means if $150,000 was borrowed and the annual premiums cost 1%, the borrower would have to pay $1,500 each year ($125 per month) to insurance their mortgage.

How Credit Scores Affect the Cost of PMI

Credit scores don't just affect mortgage and homeowners insurance rates, they also affect PMIS. Here is an example of how factors such as creditworthiness impact the cost of mortgage insurance: Consider two individuals who each want to buy a home valued $100,000 and can each put down $10,000 or 10% of the value of the home. Although they can make the same down payment, their credit scores are major determinants when it comes to the cost of their mortgage insurance policies. To show this, we graphed the price difference across credit score silos for a mortgage insurance policy offered by Radian. The policy is for a borrower-paid mortgage insurance policy that covers a fixed rate loan with a term longer than 20 years. You can see that if Borrower A has a FICO credit score of 760 or higher and Borrower B has a score lower than 639, Borrower B’s mortgage insurance premiums would cost 4x Borrower A’s.

How Loan-to-Value (LTV) and Claim Payout Ratios Affect PMI Costs

In addition to FICO credit scores, companies price PMI premiums according to the loan-to-value (LTV) ratio of a mortgage and what percent of the loan is recovered if a claim is filed. It might sound complicated, but calculating these factors for a policy is easy.

Most mortgages must be insured if they have a loan-to-value ratio (LTV ratio) of 80% to 97%. In other words, if a borrower can only make a down payment between 20% and 3% of the value of a home, they will likely need a mortgage insurance policy. But not all LTV ratios are treated the same. In the table below of a mortgage insurance policy offered by Genoworth Mortgage Insurance Corporation, the difference between LTV ratio and the cost of the policy are clear. The rates are for borrower-paid annual premiums for non fixed rate mortgages and based on LTV ratios, the coverages offered within each ratio, and the cost of the premiums for each PMI policy given the risk pool (the FICO score of the borrower).

The annual premiums are the percentages of the original amount of the mortgage loan in each FICO score column. For example, say a homeowner with a FICO credit score higher than 760 borrowed $100,000 that equated to 92% of the value of the home they purchased. If their mortgage lender took out a policy to cover 35% of the $100,000 loan amount, the borrower's PMI premium would be 2.56% of that amount or $2,560.

95.01 & Greater

35% 4.50% 6.82%
30% 4.01% 6.04%
25% 3.52% 5.21%
18% 2.60% 4.13%

90.01 to 95%

35% 2.56% 6.33%
30% 2.19% 5.54%
25% 1.94% 4.99%
16% 1.50% 3.64%

85.01 to 90%

30% 1.66% 4.06%
25% 1.59% 3.50%
17% 1.38% 2.81%
12% 1.19% 2.39%

PMI Rate Adjustments

Insurance companies also apply price adjustments to the above base rates. Genworth Mortgage Insurance Corporation, for example, offers mortgage insurance and applies several common adjustments that increase and decrease the cost of premiums. Some of the company’s adjustments cut the cost of premiums, such as those for mortgages with an amortization term of 25 or fewer years and for corporate relocation loans. Other adjustments that increase the cost of premiums are for situations in which any loan amount is greater than $417,000 and for mortgages on secondary homes and investment properties.

Below is an example of the five adjustments that have the biggest impact on the base rate of a mortgage insurance policy. Like Genworth, Radian also has adjustments that decrease the cost of a borrower's premium, however those are not included in the chart.

There can be exceptions within the adjustments that carriers apply to premiums. One common adjustment exception is for mortgage insurance premiums in Hawaii and Alaska. Unlike the continental U.S., adjustments to the cost of premiums based on loan amount begin at $625,000 instead of $417,000 in Alaska and Hawaii.

If you're looking for ways to avoid PMI on your first home purchase, there are a variety of methods out there, but beware that many of these might actually cost you more in the long run.

Sources:

Mon, 21 Nov 2022 03:39:00 -0600 Chris Moon en text/html https://www.valuepenguin.com/mortgages/how-much-is-pmi
Killexams : PMI launches diversity and inclusion certificate training

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Thu, 08 Dec 2022 13:44:00 -0600 en text/html https://www.professionalpensions.com/news/4061418/pmi-launches-diversity-inclusion-certificate-training
Killexams : Daily Markets: Global PMI Reports Paint Today's Picture No result found, try new keyword!Investors will be digging through a sea of November Service sector PMI data today, looking to determine not only the true pace of the global economy but the prospects for further downward ... Sun, 04 Dec 2022 23:02:00 -0600 text/html https://www.nasdaq.com/articles/daily-markets%3A-global-pmi-reports-paint-todays-picture Killexams : PMI Kerala chapter wins global recognition

Project Management Institute (PMI) Kerala Chapter has been awarded for its outstanding contribution to professional and community engagements as the winner of the Global Best Chapter Award at the PMI Global Summit held at Las Vegas, USA.

The PMI Chapter Awards program provides recognition of volunteer efforts and acknowledgement of their contributions towards achieving the objectives of project management impact through professionalism, volunteering, and social support initiatives. 

PMI Kerala Chapter has been serving the project management community for the past 19 years.

PMI Kerala has won the global award in recognition of its flagship programs like organic farming, introducing project management concepts to school students and college student forums under the Academic Outreach initiative, empowering women leadership, cross-continent professional development events, and assistance to Government organisations in developing project management practices, said Jayakishore S.R, President, PMI Kerala Chapter. 

Mon, 05 Dec 2022 23:00:00 -0600 en text/html https://www.thehindubusinessline.com/news/pmi-kerala-chapter-wins-global-recognition/article66230074.ece
Killexams : Philippines Manufacturing PMI Inches Higher In November - S&P Global

(RTTNews) - The manufacturing sector in the Philippines continued to expand in November, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 52.7.

That's up from 52.6 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Demand conditions remained strong midway through the fourth quarter, as Filipino manufacturing output and factory orders grew for the third consecutive month. Moreover, the rates of increase recorded were the fastest since June. The latest upturns were strong in context of historical data.

That said, export conditions remained weak during November, thereby extending the current sequence of contraction in new export orders observed since March. Weak foreign client demand weighed on total new order growth across the sector which was primarily driven by domestic demand. Nonetheless, the downturn in export sales softened from October's accurate low.

Wed, 30 Nov 2022 12:12:00 -0600 en text/html https://markets.businessinsider.com/news/interestrates/philippines-manufacturing-pmi-inches-higher-in-november-s-p-global-1031946509
Killexams : Kenya private sector activity rises in November - PMI

FILE PHOTO: Staff work on site during the construction of the Nairobi Expressway, along Uhuru highway in Nairobi, Kenya August 5, 2021. REUTERS/Thomas Mukoya/File Photo

NAIROBI (Reuters) - Kenya’s private sector activity rose in November after falling a month earlier, helped by improved output in the agriculture and construction sectors, a survey showed on Monday

The S&P Global Kenya Purchasing Managers’ Index (PMI) rose to 50.9 in November from 50.2 a month earlier. It stood at 51.7 in September. Readings above 50.0 signal growth in business activity, while those below that point to a contraction.

“Sector data showed that growth was broad-based in November, led by construction and agriculture,” S&P Global said in comments accompanying the survey.

Kenya’s inflation fell to 9.5% year-on-year in November from 9.6% a month earlier, data from the statistics office showed, its first drop since February, helped by easing prices of food and fuel.

The survey showed that input costs rose, due to higher import costs due to a weaker shilling versus the dollar, higher taxation and transport costs.

Reporting by George Obulutsa; Editing by Toby Chopra

Sun, 04 Dec 2022 18:50:00 -0600 en text/html https://www.reuters.com/article/kenya-economy-pmi-idUSKBN2SP0IT
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