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What Does Project Governance Really Mean?

ProjectManager.com

Projects like anything that involves a lot of people working together need governance. The government runs a nation and project governance in the same fashion runs the project. What Is Project Governance? You can look at project governance as a framework to help oversee the right course for the project. Structure.

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Enterprise Risk Management (ERM) and Risk Governance

MPUG

Risks were identified, then qualified, and risk responses planned. For implementation of these risk responses, a number of actions were needed. Some were taken, but most ignored or overlooked because of other projects and lack of understanding of risk management at an organizational level.

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The Confusion Over Risk

Project Risk Coach

Why are many project managers confused over risks? Why do some project managers include positive risks in risk management and others do not? Let's clarify what we mean by the term risk. Risk is a Choice Merriam-Webster defines risk as “the possibility of loss or injury: peril.” Peter Bernstein.

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The Standard for Risk Management in Portfolios, Programs, and Projects

Project Risk Coach

In this article, let's discuss why risk management standards exist and which Project Management Institute (PMI) standard you should study in preparation for the PMI Risk Management Professional (PMI-RMP®) exam. The New PMI-RMP® Exam PMI released the new PMI-RMP® Exam on April 1, 2022.

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What Is a Project Sponsor? Defining This PM Role

ProjectManager.com

For example, a government project is going to have a state official as project sponsor who will work with the construction company’s project manager. According to the Project Management Institute (PMI), the project sponsor role can be broken into three parts: vision, governance and value or benefits realization. Governance.

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What’s in YOUR risk register?

Kiron Bondale

Tracking and reporting risk information is a standard part of any project management approach. Minimal sufficiency should be the goal we strive to in terms of meeting the informational needs of your stakeholders but more important, helping risk and risk response owners to effectively address identified risks.

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Measuring the Project Management Maturity of Your Organization

ProjectManager.com

That’s because the project teams involved with these successful projects follow a defined and repeatable process, which mitigates risk and achieves objectives. Rather, it’s a team effort guided by standardized processes, well-defined roles and responsibilities and collaboration.