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Friday, December 2, 2022

Risk Management Perspective in the Post-PMP Era

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PMP (Project Management Professional) refers to the qualification of a project management professional (personnel). The Project Management Professionals (PMP) certification exam, organized by the American Project Management Association (PMI), is rolled out in more than 190 countries and regions around the world and is currently the highest gold-bearing certification in the field of project management. Getting a PMP certificate not only improves the project manager’s project management level, but also directly reflects the project manager’s personal competitiveness, and is a symbol of the status of project management professionals.

Domestic since 1999 began to implement PMP certification Shop the course here, by the international proctoring institutions Pulvin proctoring and examination organizations. PMP, as a project management qualification examination, has established its authority in the international community:

1. PMP has trained a large number of project management professionals in the United States, and the project management profession has become the “golden profession” in the United States.

2. PMP certification has become an international certification standard, in English, German, French, Japanese, Korean, Spanish, Portuguese and Chinese, and other nine languages for certification examination;

3. So far, there are more than 800,000 PMPs worldwide, and more than 180,000 Chinese mainland have won the “PMP” title, and it has been increasing year by year;

4. Countries have followed the United States project management certification system, promoting the development of project management in the world.

In order to obtain PMP professional certification, candidates must meet the requirements of the American Project Management Association (PMI), the degree of knowledge of project management expertise and its corresponding work experience and requirements, on the other hand, the professionals who obtain PMP certificate should continue to work on the project to continuously adapt to the requirements of project management development!

Projects are unique, all are innovative in some way, and therefore they are fraught with uncertainty. All projects contain risks, and projects without risks have no value for implementation. Organizations see risk as to the impact that uncertainty can have on projects and organizational goals.

In addition, projects are inherently risky when they are carried out to deliver benefits and have different levels of complexity. Projects are carried out not only in the face of constraints and assumptions but also in response to potentially conflicting and changing expectations of interested parties. Organizations should purposefully manage to take project risks in a controlled manner in order to balance risk and reward and create value.

However, from a post-PMP perspective, the risk doesn’t just mean that something happens with uncertainty. There are many things with uncertainty, and only the things that we need to manage and can change through our management are risks, otherwise, these uncertain things are just the external environment we face, and our projects are unique and innovative to some extent, so they are full of uncertainties. All projects contain risks, and projects without risks have no value for implementation. Organizations see risk as to the impact that uncertainty can have on projects and organizational goals.

In addition, projects are inherently risky when they are carried out to deliver benefits and have different levels of complexity. Projects are carried out not only in the face of constraints and assumptions but also in response to potentially conflicting and changing expectations of interested parties. Organizations should purposefully manage to take project risks in a controlled manner in order to balance risk and reward and create value.

However, from a post-PMP perspective, the risk doesn’t just mean that something happens with uncertainty. There are many things with uncertainty, and only the things that we need to manage and can change through our management are risks, otherwise, these uncertain things are just the external environment we are facing, and we have no responsibility for their changes and it is difficult to bear these responsibilities. From this understanding, any project risk can ultimately be attributed to some people, or to the behavior of some people.

The factors that cause the uncertain behavior of project stakeholders can be divided into two categories: one is the factor that is only related to an individual stakeholder, which varies from person to person and can be called attribute risk; the other is the factor related to its social attribute, which is limited by the social network formed by the governance role of the stakeholder, which can be called structural risk. Structural risk specifically refers to the risk that the fulfillment of the responsibilities of the governance role is affected by the uncertainty of the likelihood, degree, and degree of manageability of external impacts. Structural risk is a supplement to attribute risk, and its essence is the uncertainty that affects the stability of network relationships.

Structural risk can be divided into two types: one is the difference in the reliability and effectiveness of a stakeholder’s role, which can be called relationship risk; the other is the judgment of the reliability and effectiveness of the overall social network constituted by the stakeholder’s governance role, which can be called network risk.

The way to reduce attribute risk is to select the right people, and the way to reduce structural risk is to establish effective stakeholder governance mechanisms. Attribute risk is the internal cause and fundamental, the structural risk is the external cause and condition, and external factors play a role through internal factors. At present, much relevant personnel regard risk as “uncertainty of event occurrence” and classify and analyze risk factors accordingly. However, this perspective does not fully take into account the impact of stakeholder behavior on project objectives, fails to capture the key factor of the “people” who generate risk, and thus fails to explore the issue of project risk from the nature of management.

Someone taking responsibility does not mean that they can or should be responsible, uncontrollable is not manageable, and relying only on rewards and punishments after the fact to manage is not an effective attitude that managers should adopt. Treating the project process as a black box is actually putting the responsibility for management on those who are likely to be unable to take on those responsibilities.

From a post-PMP perspective, the project is a trading platform for its stakeholders to exchange value to meet their respective needs, the cooperative relationship between stakeholders is a value trust relationship, and the profit is the transaction fee and the dividend of the cooperative value obtained by the trustee.

Therefore, from the perspective of post-PMP, we need to pay attention to the “human” factor, pay attention to the factors behind the “people” interest demand, only the needs of stakeholders can be met on the project trading platform, the “risk” of the project can be controlled and manageable.
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