Professional Documents
Culture Documents
Updates
Published
for Risk,
Scheduling
Standards
INSIDE
P MI has recently updated standards
covering the fundamental topics of
risk management and scheduling.
The Standard for Risk Management in
This standard:
n
n
Identifies the core principles of
risk management;
Describes the fundamentals of risk
The Innovation Imperative 3 Portfolios, Programs, and Projects is an management and the environment in
Talk Provides Win-Win Solutions 6 update and expansion of PMI’s popular which it is carried out;
for Change Management in an reference, the Practice Standard for Project n Defines the risk management life
Agile Environment Risk Management. cycle; and
In Memoriam: 7 Risk management addresses the fact that n Applies risk management principles
Francis M. Webster, Jr., certain events or conditions—whether to the portfolio, program and project
PhD, PMI Fellow
expected or unforeseeable during the domains within the context of an
Events Calendar 8 planning process—may occur. These can enterprise risk management approach.
Chapter Links 12 lead to impacts on portfolio, program
Continued on page 5
and project objectives. The impacts can
be positive or negative, and may lead to
PMIEF and Special deviation from the intended objectives.
Olympics Partner to Risk management processes allow for
Prepare Youth Leaders proactive planning, the goal of which is to
See page 10 capture opportunities and limit threats.
2019 PMI
Board of Directors
Editorial and Advertising Offices Chair
Address manuscripts and other editorial submissions, Randall T. (Randy) Black, P.Eng., PMP
mailing list rental queries, requests for reprints, randy.black@bod.pmi.org
bulk copies, submissions, letters to the editor or
Chair, Audit Committee
reprint permission to: Project Management Institute Teresa A. (Terri) Knudson, MBA, PMP, PgMP, PfMP
14 Campus Blvd., Newtown Square, PA 19073-3299 USA
Project Management Institute teresa.knudson@bod.pmi.org
Tel: +1 610 356 4600; Fax: +1 610 482 9971
Publications Department, 14 Campus Blvd., Email: customercare@pmi.org Chair, Strategy Oversight Committee
Newtown Square, PA 19073-3299 USA Website: PMI.org Roberto Toledo, MBA, PMP
Tel: +1 610 356 4600 Fax: +1 610 356 4647 roberto.toledo@bod.pmi.org
Editorial: editorial@pmi.org PMI Asia Pacific Service Centre
Website: PMI.org Singapore Chair, Compensation Committee
Tel: +65 6496 5501 J. Davidson Frame, PhD, PMP, PMI Fellow
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Innovation
Tony Appleby,
THE
MBA, PMP
Imperative
A s professionals, we have all
seen and recognized that
the environment in which
businesses and organizations operate
is rapidly changing. The competitive
behind the PMI Talent Triangle® has
clearly indicated that senior executives
expect their project leaders to have a
solid understanding of the business and
its strategy. That means that project,
business. In doing so, they are better able
to help achieve the organization’s goals
and objectives by aligning their own work
and resources and assessing internal and
external events that may present positive
environment is shifting regularly; program and portfolio managers need to and/or negative scenarios for
there are disruptive influences around become strategic collaborators with the the organization.
every corner and digitization efforts Continued on page 4
are transforming capabilities. Artificial
intelligence, blockchain, citizen developer
programming and so many other
emerging technologies are gaining
traction and rapidly changing the playing
field on a nearly daily basis. To one degree
or another, almost every industry and
vertical is being affected—and that means
your organization must be adaptive.
Indeed, if a company simply maintains a
status quo stance, it will inevitably get left
behind, lose its marketplace position and
eventually have to close its doors.
So, how does all this flux in the
marketplace affect the average project
practitioner, you may ask? In quite a
number of ways, actually. The research
As I wrote last July in PMI Today®, the proj- in changing the way PMI has histori- to learn about the next new thing that
ect management office (PMO) can play cally approached work efforts, and those will be helpful for you to understand in
a significant role in responding to issues investments are starting to pay off in order to remain relevant and an active
associated with both disruption and inno- huge ways. With a relentless focus on contributor to your organization. We are
vation through organizational risk identifi- driving value to our members, certifica- building platforms and experiences that
cation and management. The PMO is in a tion holders and key stakeholder groups, mark the new dawn of PMI as the as-
terrific position to help perform sensitivity staff have built, replaced and upgraded sociation to which any practitioner must
or “what-if” analyses that help executives systems. These now allow them to gather be affiliated in order to be successful. It is
make informed decisions. For example, if meaningful data that can be better exam- truly an exciting time to be here with us
the company was provided with a given ined to determine where PMI is having a on our journey!
scenario (e.g., a new suite of product positive impact and where there are areas
As a practitioner, if you would like to
offerings, entering into a new geography of opportunity for improvement. Staff
learn about how project management
or partnership, or a new marketing ap- feel empowered to promote new prod-
and innovation are gathering momen-
proach), the PMO can assist with evaluat- uct ideas and are provided the necessary
tum, explore PMI’s knowledge base at
ing ramifications to the project portfolio; resources to build and test them. And
PMI.org. Simply search on the keyword
strategic alignment of projects to the new we’re celebrating failures as chances for
“innovation” to discover more from
paradigm; and the impacts on budgets, us all to learn.
thought leaders and project manag-
schedules and resource availability.
And with this happening, the Board is ers who have experienced this exciting
PMI’s Innovation Journey confident that we are building a new PMI new world firsthand. Just remember the
that will be adding significant value to ev- words of graphic designer Steve Zelle as
Indeed, as a Board director here at PMI,
ery reader of this article in amazing new you do so: “The creative process is chaos
I am delighted to witness the Institute’s
ways. We are redefining what this means wrapped around structure … ” Together
own cultural transformation into one
to you, on every step of your career jour- we can enable our teams to make in-
that embraces an innovative mindset.
ney. We are actively scanning the horizon novative ideas a reality.
Staff have made significant investments
This standard focuses on the “what” focus to risk management across all Practice Standard for
of risk management (i.e., the key domains (enterprise, portfolio, program Scheduling – Third Edition
considerations for effective risk and project) of the organization—as the The Practice Standard for Scheduling –
management). It is primarily written for organization undertakes strategic and Third Edition provides the latest
portfolio, program and project managers, operational change. thinking regarding good and accepted
but is a useful tool for leaders in risk practices in the area of scheduling for
While the underlying principles of risk
management, business consumers of risk a project. Aligned with A Guide to the
management are applicable across all
management, and other stakeholders Project Management Body of Knowledge
domains, the implementation and focus
in the portfolio, program and project (PMBOK® Guide) – Sixth Edition, this
of managing the work with respect to
management professions. updated practice standard expounds on
the potential effect of risk is different.
The Standard for Risk Management the information contained in Section 6
Differences Between New
in Portfolios, Programs, and Projects on Project Schedule Management of the
Standard and Practice Standard
presents a uniform risk management life PMBOK® Guide.
The Practice Standard for Project Risk
Management elaborated on the applica- cycle, but highlights the unique aspects In this new edition of the practice
tion of risk management practice based as risk management applies to the standard, you will learn to identify
on The Standard for Project Management different domains of work. Background the elements of a good schedule
and the Risk Management Knowledge information is provided in the appendices model and its purpose, use and benefits.
Area of A Guide to the Project Man- of the standard that further explains You will also discover what is required
agement Body of Knowledge (PMBOK® some of the important concepts and to produce and maintain a good
Guide). This new standard moves the briefly describes the many techniques schedule model.
useful in managing risk. Continued on page 6
The third edition of this practice n Differences between schedule with the planning, development,
standard also includes: models, schedule model instances maintenance, communication and
n Uses and benefits of the and presentations; reporting processes of an effective
schedule model; n Detailed descriptions of critical path schedule model.
n Definitions of key terms and steps method, critical chain, program PMI members have free access to both
for scheduling; evaluation and review technique The Standard for Risk Management in
n Detailed descriptions of scheduling
(PERT), rolling wave planning, and Portfolios, Programs, and Projects and
components; Monte Carlo simulation; the Practice Standard for Scheduling –
n Uses and applications of adaptive Third Edition. Go to PMI.org, log in with
n Guidance on the principles and
concepts of schedule model creation project management approaches in your user ID and password, and select
and use; scheduling, such as agile; and the Standards tab. If you are interested
n Guidance and information on generally in purchasing a print edition of either
n Descriptions of schedule model
accepted good practices associated standard, visit marketplace.PMI.org.
principles and concepts;
In Memoriam
Events Calendar
OCTOBER 2019
Live Webinars From 4 October
ProjectManagement.com PMI Belgium Chapter
As a valued member of the ProjectManagement.com PM Fair 2019
community, you can access webinars that provide insight from Brussels, Belgium. The theme this year is
the industry's most respected voices on the most relevant and “Project Management and Digital Disruption:
important topics today—and earn PDUs. Are You Ready?” Enjoy a combination of
keynotes, workshops and booths where
14 June, 9:00 a.m. EDT (UTC–4) sponsors and authors will demonstrate their
products and services to a targeted group of
The Agile Enterprise: How Can Agile Processes Be Improved? professionals. pmi-belgium.be.
Agile is a continuous improvement process in itself, but at the enterprise level, most of
the agile frameworks can’t be used for process improvement. That’s because of strong
governance requirements or because of the culture and strong resistance to change. This
NOVEMBER 2019
webinar presents some options for improving processes that have an agile component but 6–7 November
are not entirely agile. Presented by Stelian Roman, PMI-ACP, PMP. PMI Southern Caribbean Chapter
10th Biennial International Project
For more information and to register, visit ProjectManagement.com/Webinars. Management Conference
San Fernando, Trinidad. “Rebooting for
the Digital Age.” Inherent to the fourth
SeminarsWorld® Events 24–27
industrial revolution that is upon us are
Mega S June
three key considerations—velocity, scope
Leading subject matter experts share their experience and
e and impact. The chaos presents opportunities
deep knowledge on a variety of topics. Whether you are Orland minarsWorld
o, Florid and challenges, and business leaders must
looking to build your leadership skills, work on soft skills such a, USA
15–18 J understand changing environments and
as communications and collaboration, or dive deeper into Chicag ly u challenge assumptions while relentlessly
agile, these events provide unique opportunities to learn o, Illino innovating. pmiscc.org.
is, USA
and connect with the project management community. 5–8 Au
San Fra gust 7 November
n
Learn more about SeminarsWorld courses being held in Californ cisco, PMI Budapest, Hungarian Chapter
these locations and throughout the world. Use PMI’s ia, USA
15–19 S Art of Projects Conference 2019
search tool for project management training matched
to your specific needs. Visit learning.PMI.org. Nashvil eptember Budapest, Hungary. Save the date for this
Tennes le, seventh annual conference. pmi.hu.
see, US
A
23–24 November
PMI MENA Conference 2019
Kuwait City, Kuwait (23 November) and
Manama, Bahrain (24 November). Join the
third edition of the Middle East–Northern
Africa (MENA) Conference. The event will
have a keynote speaker from the PMI Board
of Directors and other international project
management experts sharing the latest
topics ranging from project excellence and
strategic PMOs to business analysis and much
more. Whether you are a seasoned project
professional, starting your career or returning
to the profession, there are unique learning
and networking opportunities that await you!
pmimenaconference.org.
Interested in having a FREE PMI Today® event listing? Please go to PMI.org/events/calendar and click on the link for submitting
events. Your listing will be considered for both the PMI.org online calendar and the PMI Today calendar.
that may directly determine the lable situation that totally deviates the
success of a project. It is essential project from the expected path.
and even more urgent in today’s Because agility may be a brand-new
agile environment to identify such concept for many people who have
possibilities effectively and make an no experience with it, it is more
all-dimension analysis of them. challenging to do change management
Confused by this dilemma, nearly in an agile environment. The key to
80 project practitioners attended success is to embrace change but to
As the largest humanitarian and an event hosted in Shanghai by maintain it in a controlled state and
multisport event ever recorded, it PMI China and Zheng Xiaolong, a to avoid slow response speed and
provided an opportunity for Youth project management expert well waste. In an agile environment, every
Innovation Grant recipients to known for his rich experience and team member and most stakeholders
showcase the purpose and anticipated well-received speeches. are all-around active participants in
outcomes of their inclusion projects the project and pay more attention
to attendees from 200 countries. In Mr. Zheng analyzed the pain to the overall goal. Thus, they have a
addition, the organization included points of change management, more proactive attitude and a quicker
its first-ever project management illustrated his definition of multiple response to change.
training session in Summit activities stakeholders involved in it and
shared win-win solutions of change Mr. Zheng’s lecture answered the
to complement the modules PMIEF
management for all stakeholders attendees’ questions and received
created, so youth leaders can
in an agile environment. Finally, he positive feedback that a practical
practically apply this knowledge to
demonstrated some common tools topic was selected for the event.
their grant-funded initiatives.
and templates, and provided typical The attendees are looking forward to
Special Olympics’ vision is to open case studies of best practices. more such activities from PMI China.
hearts and minds toward people with
intellectual disabilities through sports One of the most impressive parts
to create inclusive communities of the speech was how Mr. Zheng
globally. The organization aims to classified stakeholders in change
promote positive attitudes toward management according to their
this population by raising awareness mindset, interest, adeptness to
for what they can achieve, and agility and earnings: namely,
thereby promote their inclusion decision maker, manager, deliverer,
in communities, health, education creator and one affected by
and the workforce. Both PMIEF and change. This explanation, as well
Special Olympics strive to ensure as on-site discussion and Q&A,
young people make their dreams a helped the attendees gain a clearer
reality and the world a better place understanding about change
for all. Together, they recognize the management.
power of project management to Another element that contributes to
enable youth to realize their potential the complexity of change manage-
and transform lives. ment is that different methods are
Visit pmief.org to view a video that needed for traditional and agile proj-
showcases PMIEF's 2017 grant to ects. Traditional projects have clearly
Special Olympics. In addition, the defined change management pro-
website highlights the foundation's cesses. Agile projects are free from
partnerships with the world's inefficient processes but may suffer
leading organizations. more waste and even an uncontrol-
Chapter board of directors with PMI Board of Directors member Tejas Sura, PMP, PfMP, fourth from right and Region Mentor Girish Kadam, PMP, far right.
S
two-time winner of PMI’s Chapter of
the Year award. witzerland is best known
as a country of beautiful
The video was followed by a panel mountains, cheese and
discussion on Smart Cities that chocolate. Yet not many people
brought four eminent experts in the know that is also a home for
field. Next on the agenda was a local ETH—a science, technology and
cultural presentation, a traditional mathematics university that
dance recital. lists Albert Einstein among 21
other Nobel Prize winners as
It was then time for another highlight
past teachers. ETH was founded
of the evening, as Sesha Sai explained
164 years ago and was ranked
PMI Bangalore Chapter’s involvement
seventh best university in the world last
with a nongovernmental organization, As an additional activity, chapter
year by QS World University Rankings.
the Robin Hood Army, working for volunteers took part in Life Science
underprivileged children. These That is why we at the PMI Switzerland Career Days, staffing a PMI Switzerland
chapter activities were planned Chapter were very excited this year to fulfill Chapter booth to promote project
to contribute to the PMI Global a refreshed PMI Educational Foundation management as a future career path
Celebration of Service. (PMIEF) strategic direction and partner with among youth.
a nongovernmental organization (NGO).
After an address by Secretary and Our second partnership with CERN—
Volunteers worked with Life Science Zurich
Treasurer Lt. Col. Shri Harsha (Retd.), The European Organization for Nuclear
Young Scientists Network, a group that
PMP, PgMP, it was time for dinner Research, a nonprofit organization that
serves ETH students in shaping their future
and fond reminiscing of a magnificent operates the largest particle physics
career paths.
evening well spent. laboratory in the world and is the
Life Science Zurich Young Scientists birthplace of the World Wide Web—will
Network strives to reduce the existing gap bring more training opportunities for
between academic research and industry students. In July, chapter volunteers will
and hosts events that allow young people to organize a dedicated workshop for young
explore the world of biotechnology and to people who are considering careers in
stimulate constructive interactions between project management.
people from various life science sectors.
PMI Switzerland Chapter volunteers
This year, the PMI Switzerland Chapter are a group of eight covering two major
supported the Life economic regions of Switzerland
Science Zurich Young and working in the French,
Scientists Network German and English languages.
by organizing a project management Our aim is to magnify the power of
workshop. Chapter volunteers taught nonprofits and NGOs supporting
NGO staff on project management children and youth. We help them
fundamentals, communications, deliver their missions through the
leadership, stakeholder management, application of project management.
working in a team and problem-solving
If you would like to hear more,
techniques. All content came from PMIEF
please contact Agata Czopek,
free resources Project Management
vice president for social good, at
Skills for Life® and “Careers in Project
agata.czopek@pmi-switzerland.ch.
Chapter President Basu Dutta, PMP. Management.”
THE RIGHT
INSIGHTS
BRING THE BIG
PROMOTION
Download the free podcast
at PMI.org/Podcast