Author: Education Edge

Education Edge helps you prepare yourself for the PMP Exam: We are top-notch PMP Prep and PMP Certification Course training provider.

PMP Certification: Why should you opt for one?

There are a number of minor information to the role of a project manager. You must remain united among your team, exercise your duties as the lead and ensure that the project is completed on time, taking account of the customer’s inputs. The Project Managers are professionals who are adept in managing their staff, managing their time and creating a cohesive team who can carry out any project.

PMP Certification is one of the highest available certifications and stands for Project Management Specialist and is a qualification at the professional level for project managers. This qualification enables project managers to advance their careers further and lead projects internationally.

The credential is so relevant in the international arena that PMP accredited professionals are considered to be the cream of the crop and qualified to lead major international projects.

Why is PMP in demand?

PMP is one of the most sought after certifications for project managers worldwide, and has been provided by the PMI. The qualification of PMP enables you to search for work in almost every corner of the world and lead projects that include foreign collaborations. PMP training is a quality mark and gives your services a price tag, which represents your expertise and knowledge. You can demand better pay, go on bigger ventures, and have a name before you with these PMI and IIBA Certification.

Are you eligible for the PMP Certification?

Find out if you are qualified for the course before you start planning to attend the PMP classes online.

  • Do you have a degree in bachelor’s degree?
  • Bachelor’s students must demonstrate a 3 year experience as lead project manager along with 4 500 hours.
  • Diploma holders must have 5 years of experience as project manager along with 7,500 hours.
  • The 35-hour PMBoK (project management information body) programme must also be completed.

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Tips to train your team online in 2021!

The situation after pandemic is totally in contrast with the situation before the pandemic. Earlier remote working was something that was considered luxurious, but mow it is a necessity for all.

Employees all around the world have been working remotely over the past year, and this trend will continue in the future months. Since remote working became popular, there have been more challenges in managing remote teams. To interact with their staff and streamline task allocation, managers use Zoom calls, phone calls, and WhatsApp group updates on a regular basis.

In recent years, remote team management has become a new skill set for project managers. Adapting to a remote management environment is difficult in its own right. All of the office tasks stay the same, with an increased level of communication with the rest of the team. A manager’s job is to make the workplace a better place to work by making sure that the team is productive, self-sufficient, flexible, and joyful. Keeping the team working at home and ensuring that they achieve deliverables despite distractions is difficult. If you need more insights on the topic you can go for PMP bootcamp online.

TIPS FOR REMOTE TEAM MANAGEMENT

  1. Provide communication tools

To keep the teams engaged, provide appropriate communication tools. To ensure a continuous communication flow among your team, they use the most up-to-date solutions such as email, cloud storage, zoom calling, screen sharing, instant messaging, and so on. Providing the correct communication tools for the team is an excellent way to eliminate bottlenecks and confusion. In order to manage a remote team effectively, it’s critical to have a smooth communication system in place.

  • Ensure transparency

When you’re remotely managing a team, the most important thing you can do is communicate your expectations clearly. Setting expectations covers anything from working hours to project scheduling and other deadlines. Make a single bulk call in the morning and then touch with people one-on-one to talk about specific expectations. At the same time, it’s important to put yourself in their shoes while setting expectations. They might be having the same problems as you with the remote position. Set reasonable deadlines to avoid sabotaging productivity.

  • Connect one-on-one

It’s vital to engage with your staff one-on-one in order to understand any hurdles and assist them in overcoming them. It’s not always the case that someone will respond to your questions about their problems. Create a channel for your staff to communicate with you about their concerns.

Set aside 10 to 15 minutes with your team once or twice a week for a quick one-on-one meeting. Make sure your staff knows you’re available at all times in case of an emergency.

If you’re looking for some information apart from this then you can refer to PMP bootcamp online.

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How do you select a good project as a project manager?

Being a good project manager necessitates a wide range of abilities. It necessitates strong leadership, excellent communication skills, thorough preparation, and a variety of other vital qualities.

However, in the realm of project management, there is one ability that is undervalued: smart and effective project selection. In fact, a recent Six Sigma survey of 43 different firms discovered that 75% of them didn’t even follow the project selection methods.

“Ultimately, if you don’t have a Project Selection process in place – one that is rigorously followed,” writes Six Sigma Qualtec, “you will falter.” You may seek good PMP bootcamp online from a recognised institute.

A well-informed and experienced approach to project selection allows your firm to more efficiently manage prospective projects, identify significant initiatives with higher ROIs, and harness the capabilities currently in place to select projects that are well-suited to your organization’s specific competencies.

WHY IS PROJECT SELECTION IMPORTANT?

Before diving into the two primary approaches of Project Selection, as well as their different methodologies, it’s critical to first comprehend why Project Selection is so critical to your company’s success.

Selecting the correct projects, in addition to adopting the right project management approach for your firm, might mean the difference between one year in the black and several years in the red. Unreasonable project scope, ill-defined deliverables, and unattainable goals can all wreak havoc on your budget while also jeopardising productivity.

But choosing the proper tasks isn’t as simple as going with your gut. Choosing the correct project for your company’s abilities and resources, on the other hand, necessitates a little of critical thinking on your part. The Benefit Measurement Methods or the Constrained Optimization Methods can be used to perform these computations.

Some tips for selecting a good project:

  1. Benefit measurement method

As a project manager, the Benefit Measurement Methods are likely to be the only ones you use directly. While less sophisticated than Constrained Optimization Methods, they don’t always necessitate a master’s degree in finance to comprehend.

Benefit Measurement Methods, as the name implies, assign a score to possible projects based on a model and compare the results among project applicants. The most typical Benefit Measurement Methods you’ll use as a PM are listed below.

  1. Cost benefit ratio
  2. Economic model
  3. Payback period
  4. Discounted cash flow
  5. Net present value
  6. Scoring models
  7. Internal rate of return
  8. Opportunity cost
  • Constrained optimization methods

Constrained Optimization Methods may be employed in addition to Benefit Measurement Methods, which are the most extensively utilised Project Selection methods for project managers. These methods are ideal for larger, more sophisticated tasks that require a significant number of complex mathematical calculations.

The Mathematical Model of Project Selection is another name for the Constrained Optimization Methods.

Choose the best PMP bootcamp online providers for the training.

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Focus more on effective team communication!

Communication is an important skill for connecting with others. It is an essential feature of our daily lives. Others can rapidly absorb and act on your information if you communicate effectively. Misunderstandings, ill-informed decisions, misconceptions, and blunders can all result from a lack of efficient communication. The word “effective communication” may appear simple, yet it is difficult to perfect in practise. You’re not communicating if you’re having a lot of talks. This is why team communication is an important knowledge topic in the PMP tests, according to the PMBOK® Guide – Sixth Edition. PMP prep course online teaches everything you need to know about effective communication in detail.

IMPORTANCE OF EFFECTIVE COMMUNICATION IN AN ORGANIZATION

Miscommunication costs businesses an average of $420,000 every year. Organizations like to hire managers who are skilled communicators because improved team communication leads to higher productivity. Expert Market‘s poll reveals that 28 percent of employees were unable to deliver work on time, citing poor communication as the cause. Efficient team communication results in good productivity, clarity of tasks, and realisation of the team’s target timeframes.

A project manager’s communication routes in an organisation are as follows:

  1. Managers communicate with their team
  2. Managers communicate with their peers to solve problems between departments or within the organisation
  3. Managers communicate with external vendors and suppliers to manage finances, proposals, or estimates; managers communicate with their peers to solve problems between departments or within the organisation; managers communicate with their peers to solve problems between departments or within the organisation
  4. Managers communicate with their peers to solve problems between departments or within the organisation; managers communicate with their
  5. The team connects with their bosses in order to obtain work-related information and fill in any gaps.

Simply expressed, effective communication skills are necessary for any manager because communication is involved 90% of the time.

Every phase of the project cycle necessitates that a project manager be an exceptional communicator. There is a lot of communication going on from the start of a project to the planning, execution, monitoring, control, and closing stages. Communication is the essential ability that a project manager should have, according to PMBOK®, in order to lead the team to a clear goal. It also states that poor communication will compromise project outcomes and put the budget at risk.

IMPACT OF POOR COMMUNICATION IN A PROJECT

Project managers are thought leaders who are also excellent communicators. They ensure that everyone on the team is on the same page. However, there are occasions when communication isn’t as successful as it should be, and problems occur. Before we explore the solution, let us first consider the influence that poor communication has on the overall balance of a project.

PMP prep course online is a way to become a good project manager.

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Pick the right training institute for your PMP examination training

The Project Management Institute (PMI) in the United States offers the Project Management Professional Certification (PMP), an industry-recognized project management certification. A PMP certification introduces you to project management best practices and current developments. It improves your resume and can help you advance in your career.

According to a poll, PMP certified project managers earn roughly 22% more on average than non-certified project managers. Apply for good PMP certification classes.

Do I Need Institute Training for Project Management Professional Certification?

To be qualified for the project management institute certification, you must meet certain requirements. They include the following:

  1. Experience prerequisite for PMP

Professionals with a four-year degree must have 36 months of project management experience.

Professionals having a Bachelor’s or Master’s degree approved by the Global Accreditation Center for Project Management Education (GAC) will gain 24 months of experience.

  • Education prerequisite for PMP

To be eligible to take the PMP exam, you must complete 35 contact hours of project management training. This is where your PMP training provider can help you complete the 35-hour training requirement stipulated by PMP by delivering a proof of course competition.

GUIDELINES FOR CHOOSING THE RIGHT PMP TRAINING INSTITUTE IN 2021

  1. Choose PMI recognized REP and ATP training institutes

The Authorized Training Partner (ATP) programme replaced PMI’s Registered Education Provider (REP) scheme.

The adjustments were made as part of PMI’s global attempt to standardize project management certification exams. ATP institutes have been approved by PMI to give project management institute certification. A training institute must achieve stringent quality and effectiveness standards to acquire the ATP designation.

The following are some of the benefits of training with PMI approved ATP:

  1. The PMI’s credibility factor
  2. PMI’s high-quality course content is available to you.
  3. Get certified by PMP teachers who have completed PMI’s Train the Trainer programmes.
  • Equipped with knowledge of the recent PMP exam Pattern changes

PMI has totally updated the PMP test pattern as of January 2021. The new design focuses the questions on three key project management domains:

  1. the ability to lead (42 percent )
  2. Expertise in technical and functional areas (50 percent )
  3. Business Development That Is Strategic (8 percent )

The new project management professional certification exam features 180 questions and a 230-minute exam period.

  • Training program formats

You have the option of attending PMP in-person training boot camps or taking virtual project management courses online to get PMP certified. Both options allow you to earn the required thirty-five contact hours of training for the PMP certification exam.

Given the present pandemic situation, however, many candidates have opted for online project management courses. PMI has also made online proctored exam mode available for PMP due to COVID -19 lockout constraints.

PMP certification classes should be done from a good place.

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How can you turn “Managing Projects” into a cakewalk?

Given below are top 7 tips to become a more effective leader while doing your projects. All these are also taught during your PMP prep course.

  1. Reduce the number of projects you start with

That’s right, you read that correctly. Many initiatives will never get off the ground until you conduct a thorough feasibility analysis, develop a cost-benefit analysis, and examine the potential hazards involved. THIS IS A FANTASTIC IDEA.

  • Ensure that all initiatives are in line with existing strategies.

Examine your whole portfolio of upcoming and ongoing initiatives to see which ones are most suited to your current strategic goals. ONLY work on initiatives that are in line with the direction your company is taking. BEFORE we start every project at Education Edge, we run a quick opportunity assessment to see which ones are a good fit. Every quarter, we evaluate our current projects to see if they are all worthwhile to pursue.

  • Understand the meaning of the term “completed.”

Examine what it will take to complete a project as a group once you’ve agreed to pursue or continue it. This is something you can do BEFORE or AFTER you begin or complete your projects. Scope creep can occur as soon as you begin working on a project. If you and your team have a shared knowledge of what it takes to accomplish the project, you’ll be lot more motivated to finish it.

  • Reduce the risks of completion

On a daily basis, review the risks associated with the execution of your project. Begin the procedure PRIOR to starting your project. Determine the risks and design strategies to eliminate, mitigate, and manage them. Determine who is in charge of lowering the project’s risk of failure and what would motivate them to complete the project on time.

  • Deliver results as fast as you can

Make sure you can deliver something beneficial to whoever is paying for the project early on. Nobody likes to wait for results. Show results in a monetizable way as soon as possible.

  • Pay attention to who is with you

Bring on the proper people as soon as feasible, and get rid of the wrong individuals as soon as possible. Your project isn’t a warehouse for stuff that the company doesn’t know how to use properly. Occupational suicide is the name for “special projects.”

  • Quality is a measure of how much you care

It also costs a lot less money to do the task correctly and follow the correct processes. Someone else cannot force you to do or refrain from doing anything of high quality. Recognize the techniques you’re employing to create project deliverables. Check to check if they’re up to date, or work to get them updated as soon as possible.

Focus more on PMP prep course to become a good project manager.

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What are the perks of Social Cost Benefit Analysis in Project Management?

A social cost-benefit analysis allows for a thorough comparison of various project options in project management. This isn’t just a financial issue. Nonetheless, a SCBA considers non-financial consequences. Take, for example, the impact of increased accessibility on the environment, the economy, and other factors.

Governments can use social cost-benefit analysis to develop innovative programmes that benefit everyone, not just a select few. It also contributes to an economy’s overall development by assisting in decision-making that increases employment, investment, savings, and consumption, thereby boosting a country’s economic activity.

Both investments may be able to take advantage of social cost advantages. As a result, public investment is critical for the economic development of a developing country.

  1. Market Instability

A private corporation would assess a deal based on productivity and market prices. Additional factors, however, must be considered by the government. In the face of market inefficiency and when market pricing is unable to do so, identifying social costs. These hidden social costs are referred to as “shadow prices.”

  • Investments & Savings

A market investment is a business venture that results in higher savings.

  • Income is distributed and redistributed

The initiative should not result in income distribution or revenue accumulation in the hands of a few people.

  • Career and Living Standards

The impact of a programme on employment and living standards will also be considered. As a result of the contract, more jobs and higher living standards are expected.

  • Externalities

Externalities can be both beneficial and harmful to a company. As a result, both effects must be considered before approving a deal. For example, positive externalities can include technological advancements, whereas negative externalities can include rapid urbanisation and environmental degradation.

  • Subsidy and Taxation

Subsidies and taxes are both classified as expenses and revenue. In a social cost-benefit analysis, taxation and subsidies, on the other hand, are considered transfer payments.

Want to learn more insights on the same? Enrol in a PMP prep course today.

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Is the PMP Exam really that difficult to crack?

There are 175 scored questions and 25 unscored questions on the exam. Unanswered questions will result in an incorrect score, so try to answer all of them.

But how hard is the PMP Exam?

The failure rate for first-time test takers on the PMP exam is estimated to be between 40 and 50 percent. The PMP exam does not have a set number of questions that must be answered correctly in order to pass. Each question is graded on its relative difficulty, so even if you answer all of the easy questions correctly but all of the difficult ones incorrectly, you may still fail the exam.

Because there is no way to tell which questions are scored and which are not, you will have to do your best to answer all of them correctly. The best way to ensure success is to study as much as possible with high-quality materials, familiarise yourself with the types of content and questions that will likely appear on the exam, and take several practise exams.

If you need additional guidance on what to study, a PMP Certification classes are a good idea to keep you on track and increase your chances of passing the exam on your first try. Many preparation courses include practise questions and explanations, as well as one-on-one time with live tutors or instructors and multiple full-length exams. Because the minimum pass rate on the actual exam is around 65 percent, experts recommend scoring at least 80 percent on practise exams.

You can also look for a PMP prep course that offers a money-back guarantee or a “pass or re-enrol” plan, so that if you fail the exam, you can get more help. If you fail the exam, you have three chances to retake it within a year. If you fail three times in a year, you must wait a year before taking the exam again.

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Quick PMP preparation tips

Taking and passing the PMP (Project Management Professional) Exam is crucial for anybody interested in project management, whether they have prior experience or are new to the field.

The PMP Certification will equip you to lead projects using practically any methodology as a project manager, as well as boost your pay and earning potential. The expertise indicated by passing this exam is highly valued by potential employers, and it will considerably supplement any knowledge gained via training and experience.

The PMP prep course is not one for which you can cram all night and then spit out the facts the next day. It necessitates forethought and planning. With that in mind, we’ve put together a list some of the preparation suggestions that can help you pass the PMP exam and advance in your career.

  1. Know your learning capability

Before you do anything else, you should figure out how you learn best so you can plan properly. Everyone is different, and while some people like to study alone, others thrive in a classroom setting.

Examine your school experiences and consider which learning strategies worked best for you and helped you achieve in your studies.

Even if you decide that solo learning is the best approach for you, you should still plan out a study schedule and make sure that you stick to it. This may entail setting alarms for yourself, devising a reward system (e.g., no going out on Friday unless X is completed!), and enlisting the help of friends or family to hold you accountable.

  • Join PMI and schedule your exam

You’ll want to double-check that you’ve met all of the prerequisites before registering for PMI membership and scheduling your exam. To be qualified for PMP certification, you must have one of the following skills:

  1. A four-year degree combined with three years of project management experience, 4,500 hours of project management experience, and 35 hours of project management education.
  2. A secondary degree, five years of project management experience, 7,500 hours of project management experience, and 35 hours of project management education are all required.
  • Make a plan and stick to it

If you intend to prepare for the exam on your own, develop a study plan once you’ve marked the exam date on your calendar. It’s critical to be realistic and not set unrealistic expectations for yourself.

Take a look at your weekly schedule. When do you get a chance to relax? What are some of the things you’ll have to give up while studying for the exam (for example, hobbies or free time)? Could you forego your lunch break and study at your work instead?

If you are completing your PMP prep course with sincerity then there is no going back.

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How to become a certified Project Manager in 2021?

Project Management has gotten quite possibly the most taken care of calling in the corporate world. Additionally, it is likewise one of the most lucrative callings on the planet. With an ever-increasing number of applicants trying to join this spectacular calling, the opposition is getting intense for a long time. Along these lines, if you wish to work with the most amazing aspect the organizations, you surely need to stand apart from the colossal group. To do likewise, you should anticipate acquiring any of the PMI certification, in view of your work insight and capabilities. You can look for either PMP or the CAPM Certification. To know which one you are qualified for, you can peruse the qualification subtleties referenced beneath.

Qualification Details for acquiring the PMP Certification:

PMP is a high-level Project Management Certification. To acquire the equivalent, one must have significant degrees of ability just as work insight. Qualification requirements for the equivalent are as referenced below:

  • The proficient should have a secondary school confirmation alongside a work insight of at least 5 years and 7500 hours of working. Finishing the formal PMP Prep course of 35 hours is additionally compulsory to get qualified for the test.

OR

  • The experts should have a 4-year degree or a higher capability with a work insight of at least 3 years and 4500 hours of working. Effectively finishing the 35 hours of the PMP Training is required for degree holders too.

Qualification Details for getting the CAPM Certification:

CAPM is a section level undertaking the board confirmation. To acquire the equivalent, you need just a fundamental comprehension of the task the executives calling. The following are the qualification measures to show up for the CAPM Exam.

  • The individual should have effectively finished a secondary school recognition or some other advanced education.
  • The individual should likewise have acquired a base proficient encounter of 1500 hours in the expert field of task the executives. In any case, if the candidate doesn’t have the necessary experience, he/she can show up for the test in the wake of finishing a formal CAPM prep course of 23 hours.

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