Monday, 27 November 2017

Steps to Finding and Managing Capital - Part 1

This is a paper presented at the Valedictory Session/Entrepreneurial Workshop for the Executive and Principal Officers of the 25 Local Government Council of Delta State - 18th and 19th October, 2017

Introduction
It is fair to say that at the center of any business enterprise is finding and utilization of capital. In classical econonic theory, there are four factors of production which are:
  • Land
  • Entrepreneur
  • Capital
  • Labour
In this list, capital is that aspect that bonds all three together. In many instances, it equates to cash but often, it means much more than that. It is the ability to mobilize enough capital to start a business that could make the difference between quick successes or a stunted growth. In fact, it could even mean the difference between commencing and not commencing a business at all.

In this article,  we would explore the various sources of capital that you can leverage on. The principle to bear in mind is that capital should strictly be treated as capital and not profit. Capital is meant to be a facilitator, an enabler - a means to an end and not the end itself.

In simple terms, capital should be spent strictly for business, not for pleasure or any other thing. One this principle is understood, then it will help you answer the next question

What Capital Do I Need
The volume or size of capital is not fixed, but dependent on two basic questions:
  1. What kind of business do I want to engage in?
  2. What facilities are available
1. What Kind of Business
In answering the first question, a background study of the different businesses or enterprise opportunities must have been carried out. In some Instances, this information can be gotten informally, especially if one is going into a well-known business direction (even then, effort must be made to obtain certain empirical specifics as to fund requirements outlays). Since no two businesses are exactly the same as they operate under different variables.
In other instances, a formal study requiring a professional input can be carried out. This is called feasibility study. Feasibility studies are meant to establish the capital needs of the business and its expectation or return capital.

What Facilities are Available
The funds available to be utilized as capital are generally categorized into two broad categories.
  • Internal Sources
  • External Source
We would discuss these two

Internal Sources: As the name implies, these are funds that can be sourced from within. They include personal savings, funds from family members, stocks and equities, inheritances and heirlooms. Monies drawn from these are generally uncollateralized and less stringent in mobilization and utilization. The monitoring and control processes to access their efficient utilization are less stressful and less cumbersome.

External Sources: These are funds from outside your personal cycle. A key feature of externally sourced funds is that they are formal. This requires formal agreement between the lender and the borrower. So in some instances, even family members can by the conditions attached to the release of these funds become external or formal sources of capital. A formal capital source can be in form of loans, grants, endowments or charitable advances.

We would now outline and discuss these sources of funds in the next part.
Sources of Capital



Friday, 27 January 2017

Give Me One Reason Why I Should not Give Specific Details!

Give Me On Reason Why I Should not Give Specific Details!

I would like to thank you again for stopping by.
I have been provoked to make this article in response to repeated call from different quarters telling me I should not give specific details of events happening in my workplace. The article have to do with “How to Succeed in a Challenging Work Environment”. I appreciate the advice of these well-meaning person. 
I want to point out that I write strictly for learning purposes and dissemination sound information.
But, I have a bad news, though. The fact is that I have dozens of articles with specific details including names of the company, the persons involved in the events, the phone numbers and other relevant details needed to verify any article I am going to write. And I am going to publish them, if not me, someone else would still publish all of them if necessary and at the right time. As for all these persons telling me not to include the specific details like actual names in my articles, my question for them is,
  • What is one good reason why I should not do that?
  • What would make your articles authentic if  it is not verifiable and contain specific details?
  • Why should we be afraid of expressing our view in this information age? Or are we still living in the dark ages?
  • Beside why should one not speak out especially in a situation that personally affects him?
I would like to point out clearly that the first step in giving advice is to first make effort to understand the situation and circumstances of the  person expressing his objections. Then you will be in the right position to give a well thought-out and informed advice.

Why I choose to Write
 I would take some few lines to let you know why I decided to express my views in writing.

1. My IT Background: As an Information Technology Professional, I feel the obligation to pass authentic and verifiable information to those who need it. I work as a Lead Software Engineer in the ICT Department and as such would not cringe in fear of expressing sound facts and relevant supporting arguments and details.
2. I have the Facts: Another important point is that I’m not just making up stories. I actually relate based on situations I have experienced or I have been through. As such I have the guarantee that the actual facts are presented as they are and lessons can be learnt from it.

3. I Feel a Relieve: Generally, if expressions are kept inside, it sometimes leads to depression or other more serious effects. So I found out that when I express myself in writing, then, I could feel some kind of relieve that some burden has been taken off my chest.

Reasons Not Why I Choose to Write This subtitle seems not clear  to me but I would like the point out that I’m not writing for negative reasons. So I would say the reasons below are not and never would be reasons for my writing. I strictly write for learning purposes.
  • I don’t intend to undermine the reputation of anyone or any organization. As I repeatedly mentioned I write to teach and inform
  • I don’t write to fight a cause. I don’t have anything to fight for, so I’m not writing to fight any authority or to draw some attention to some cause.
Once again, I would like to thank everyone that have advised me, I sincerely appreciate and for sure this response shows that I’ve carefully considered your advice. 

Saturday, 21 January 2017

How to Succeed as a Sa1p3m Staff(in a Challenging Work Environment)

How to Succeed as a Sa1p3m Staff (or any other challenging work environment) Thanks for stopping by.
  • I would like to share this update with you on how to succeed in a challenging work environment for  a professional.  What really is a challenging work environment? For me, Sa1p3m is not just a typical example, but an exceptionally challenging one and I would tell you why in a moment.
So some of the topics we are going to discuss includes the following:
  • What factors make a work environment challenging
  • How does a challenging work environment affect productivity and effectiveness
  • What effect does a challenging work environment have on the workforce
  • The role of management
  • The role of staff union
  • How to manage a challenging work environment
Let’s begin with the fir first point: What factors make a work environment Challenging ?

What Makes a Work Environment Challenging? Disregard for Standard Practices (Unprofessionalism): When an organization fails to maintain a certain level of standards, then you will find it challenging as a professional. A typically example is when job roles are not properly defined and you find the same employee working on different roles in a unsystematic way,  and you find yourself in the team, it’s going to be challenging to cope.

Incompetent Head of Unit/Unskilled Managers: Managerial skills which includes leadership and interpersonal skills is the key to managing human resources. When a manager is incompetent and lacks these skills, it would be a disaster for him to have persons under him. An example is a head of department would lack basic communication skills and resort to shouting and insulting employees under his unit. I a situation like this he would not have a grip on the personnel neither will he earn their loyalty

Manager being less qualified than Team Member: Example is a Technician managing a team made up of engineers!(I find these amusing). Unfortunately, that is the situation in some department in Saipem. Example is ICT department. I rest my case!

How does a Challenging Work Environment Affect Productivity and Workforce 
In simple terms, it reduces productivity as employees would be low on morale while other try to find a way out of the situation by looking elsewhere. 

  The Role of Management and Staff Union The bulk of the blame for having an avoidable challenging work environment goes to management of h organization. This is because they are aware of the situations that make the workplace challenging for their employees. They also hold the power to make necessary changes to improve the situation. Staff union also have the role of fighting to ensure that management does not exploit the employees in any way.

How to Cope
The few suggestions below has helped many cope with challenging work environment
  • Improve your confidence by developing more professional skills: This you can achieve by getting professional certification in your field of study.
  • Enhance Communication in Line With Corporate Standards: Make your concerns known to those in positions of responsibility but avoid any form of confrontation.
  • Avoid Complaining: This would not help matters. Don’t spent time complaining or even discussing with team members who may not see the matter in an unbiased perspective
  • Don’t Compromise Professionalism: No matter what, don’t compromise laid down standards or best practices. Don’t do things the wrong way just because every other person does it that way.
  • Get Instructions in Writing: If you are given an instruction by an incompetent boss, make him put it in writing, say an email. This would ensure that he bears responsibility of the outcome.

I personally have applied these recommendations and have found the workplace not as challenging as it used to.

Thanks for your time and I hope this has been informative for you. If so leave a comment to let know how you feel.

Thursday, 22 December 2016

How to Manage Difficult Situations in the Workplace

MANAGEMENT OF DIFFICULT SITUATIONS
Paper Presented For A Workshop For The Delta State Civil Service By Dr. Munonye O. M. Zonal Coordinator, (south south) Institute of Human and Natural Resources

Introduction
As in all organizations, the civil service can be full of difficult situations that task even the most patient of personnel. Since most of the time it is not possible for the worker to alter the difficult situation, the key lies in being able to anticipate possible difficult situations and them prepare beforehand to handle them when they eventually arrive.

Key Tips for Dealing with Difficult Situations
As a leader or manager you can be sure that there will be difficult situations to deal with from time to time.  These difficult situations might include:
• Dealing with poor individual or team performance
• Trying to improve an organization that is perceived to be failing
• A process that it is not working
• Staff or other resource shortages
• Adverse media coverage
So as a manager or leader what are the key tips for dealing with difficult situations?

Tip 1: Establish facts first
When difficult situations arise, it is all too easy to jump to solution mode too quickly.  While there may be a limited amount of times when fast action is absolutely necessary, your first step to successful resolution it to establish facts.  Remember that facts as opposed to hearsay or opinion are verifiable.

Tip 2: Ask lots of questions
Questions, especially the short powerful variety are a great way of getting to the core issue rather than all the detail that someone is trying to provide to you.  Think of it a bit like peeling an onion, each layer is getting you closer to the core.

Tip 3: Actively listen
There is little point in asking great questions if you are not actively listening to what is being said.  Resist the temptation to jump in before you have properly listened to the different points of view.

Tip 4: Avoid pre-judgment
We all, if we are honest will form some judgments immediately.  While these might be right at the end of the day, don’t let pre-judgment get in the way of establishing the real issues.

Tip 5: Act professionally
The challenge for you is to remain professional at all times.  A good test of this is to ask yourself how you would like to be treated if you were not the manager or leader but an aggrieved party.

Tip 6: Aim for win-win
While this is not always possible, you should aim to find solutions that don’t result in a feeling from one party that they have lost while another has won.  This might require some careful negotiation around what would constitute a good outcome for all those involved.

Tip 7: Remember there is no one size fits all approach
Each situation is different.  While there might be some common ground, remember there is unlikely to a one size fits all approach to difficult situations.   Adapt your approach depending on the situation.
Bottom Line – Handling difficult situations is just part and parcel of managing and leading.  So where do you need to focus your attention in terms of developing your competence?
Smart professionals know that yesterday’s strategies are insufficient for today’s challenges. In Managing Difficult Situations we authentically look at individual and environmental factors that create stress, meltdowns and burn-out and the habits and skills required to proactively manage for success. This course is based on time-tested technique as well as leading-edge thinking in neuroscience and cognitive structuring; it is designed to be interactive, instructive and entertaining. 


PERSPECTIVE OF DIFFICULT SITUATIONS AT WORK- THE CHALLENGE OF SURVIVING OR THRIVING: 

Managing in Today’s Work Environment 
  • Manage for the uncertainty of today’s work world; achieving control
  • Understand behavior patterns and how to work with your own perceptions and those of others
  • Time-tested stress management strategies
  • Leading-edge research in neuroscience – manage your brain to manage yourself and challenging situations
  • Four-step process for interrupting old patterns
  • Create the environment you want
Difficult People 
  • Answer the age-old question: “why are difficult people difficult?” 
  • Manage anger and emotions; negativity and anger in others 
  • Style assessments: styles during stressful situations, adapting styles to create collaboration
  • Create communication strategies to match styles and points of view 
  • Artfully managing difficult people and conversations (creating rapport, win/win outcomes)
  • Maintain professionalism and confidence in the workplace
  • Develop creative solutions in maintaining composure and calm 
Communication Skills 
  • Understand conflict – why it happens and how to embrace positive outcomes 
  • Essential communication skills in conflict and collaboration
  • Maintain confidence, composure and professionalism 
  • Verbal and non-verbal communication
Building Positive Relationships 
  • Create a positive atmosphere for communication
  • Identify triggers
  • Develop coping strategies 
  • Create a “MAP” (Management Action Plan)


Some  Difficult Office Situations and How to Deal With Them
In order to maintain a high level of productivity, a positive work environment is absolutely essential. Although many aspects of the workplace are completely under your control, there will be occasions when you are essentially helpless, and the only control you have is how you REACT to a specific situation.
It is these occasions that typify what has been called “drama,” and by that, I mean the bad kind of drama.  While other types of drama–for example, the high school variety — can be fun in a guilty pleasure kind of way, nobody likes drama at work. It only causes problems and can eventually lead to you or someone else getting terminated. The following are 16 potential drama-causing work situations, and what you can do to effectively extinguish them.

1. A co-worker has the annoying habit of [blank] and you can’t stand it anymore.
Drama potential: Obsessively clicking pens. Playing music too loudly. Chewing gum like a cow munching on grass. They may seem like small habits, but they become unnerving when you have to put up with it all for eight hours or more on a daily basis. If you keep it all in, you may just lose it.
How to avoid: Before asking your co-worker to stop a certain behavior, make sure that you aren’t guilty of something as annoying yourself. Also, see what you can do block out the habit that annoys you. Invest in headphones, and try to focus on something else. If you really can’t put up with, then politely ask your co-worker to refrain. Tell them that you get easily distracted. Above all, be nice about it.

2. You suspect someone in the office is working against you.
Drama potential: Your paranoia gets the better of you. You’re put in defensive mode, and you begin actively working against the purported offender.
How to avoid: While there will always be the hyper-competitive co-worker, most people are not out to get you. Recognize that, and half the problem is gone. Dealing with the obnoxiously competitive worker can be accomplished by simply doing your assigned work the best you can. The only one who you are really competing against is yourself, and others will notice when you step up your work goals and accomplishments without stepping over others.

3. A co-worker tries to engage you in a heated religious or political conversation.
Drama potential: Politics and religion are almost always a big no-no in the workplace. Controversial conversations can quickly turn into animosity. Someone may feel offended and can rightfully complain to management.
How to avoid: Just don’t talk about religion or politics. If someone asks for your opinion, try to steer the conversation elsewhere, or laugh it off and say something neutral.

4. A co-worker or superior makes an inappropriate physical advance.
Drama potential: Similar to the broken office romance–but with potentially more nasty consequences–the unwanted pass can spawn gossip, discomfort, or even personal danger.
How to avoid: This situation needs to be dealt with early and quickly. Do not ignore sexual advances and assume that they will go away. First, tell the perpetrator–in private–that you aren’t interested, that you feel uncomfortable, and that you want his or her behavior to stop. Make sure he or she knows that you will file an official complaint if the behavior continues. This will almost always do the trick. If it’s your boss who’s doing it, consult with HR.

5. A co-worker incites you to participate in nasty office gossip.
Drama potential: Participating in gossip may be tempting, but it’s almost always ill-advised. The problem with gossip is its potential to hurt others’ feelings and lose others’ trust. When you participate in gossip, you run the risk of alienating the people with whom you work.
How to avoid: Stay away from notorious gossips. When someone tries to share office gossip with you, try changing the conversation, or simply tell them that you don’t like talking about others because you don’t like it when people talk about you.

6. Someone is stealing your food from the refrigerator. 
Drama Potential: The stealing becomes habitual. You decide to let it slide. You go hungry and resentment builds. Confrontation ensues.
How to avoid: Put your food in some sort of container, and make sure to label it with your name. If it keeps happening, ask, in a non-accusatory manner, if anyone has seen your food items. This usually does the trick. If all else fails, you can always purchase a small personal fridge and keep it under your desk.

7. It’s the company Christmas party, and you want to enjoy yourself.
Drama potential: You have too much to drink, and you make a fool of yourself. You offend others, spill secrets, or act inappropriately or aggressively. You think letting loose during social events can’t hurt? Think again. An acquaintance of mine actually got fired after an embarrassing Christmas party incident. Don’t let that be you.

How to avoid: If you can’t hold your alcohol, simply don’t drink, or drink very slowly.

8. You need a break and want to surf the Internet.
Drama Potential: You begin using your personal e-mail, social networking sites, and other entertainment sites. Before you know it, you’re surfing as you would be surfing at home, sending profanity-filled messages, and watching inappropriate videos.
How to Avoid: Most employers understand the need to take a break, and it’s probably okay that your computer screen isn’t always reflecting your work assignments. Still, keep personal Internet surfing to a minimum. Don’t write emails that you wouldn’t read to the whole office. And whatever you do, keep it clean. Rule of thumb: If your grade school teacher would object, then it‘s not okay.

9. A supervisor entrusts you with a secret, and you gab to just one “trusted” friend. 
Drama Potential: You tell one person, and you ask them not to tell anyone else. Of course, the person you told will do the same–tell one or two people, thinking the buck will stop there. Well, it never stops, and that’s how gossip gets so out-of-control in the first place. As with widespread gossip, telling one little secret has the potential to hurt others, perpetrate lies, and to make matters worse, you’ll lose your credibility.
How to avoid: If someone tells you something in private, assume it’s meant to be kept between you two. It may just be that a supervisor is letting you in to see how well he or she can trust you. Don’t blow it.
10.  You get romantically involved with someone else at work.

Drama potential: The happy couple breaks up, leaving the office environment tense. People feel forced to take sides, perhaps even harassment charges are filed.
How to avoid: Try your best not to get involved with someone at the office. If it does happen, then be professional about it. Hold off on the PDA until after 5. If your relationship dissolves, do not talk about it openly with others. Try to be civil during office hours. If you absolutely feel that you can‘t, ask a supervisor if you can be transferred to a different area of the office, where you won’t be confronted with the ex. While it can be difficult to deny an obvious attraction or connection with a co-worker, most office relationships are simply not worth the drama that they can cause.

11. Your boss overloads you with tasks that aren’t in your work description.
Drama potential: At first it starts out with little things, like “Do you mind doing [insert boss’s task here]?” Eventually, you become your boss’s slave.
How to avoid: Of course, most employees have a strong desire to please their superiors. But bosses aren’t perfect, and there’s nothing worse than having to take on two jobs but getting paid for only one. Sometimes, you just have to learn to say no. Meet with the boss to review your work description. If it becomes an ongoing problem, go to HR. 

12. You’re asked to work on a collaborative project with co-workers with whom you don’t see eye-to-eye.
Drama potential: Group projects can be trying because in order for a group to work effectively, there needs to be a good mix of leadership, people willing to take direction, and so on. Most of the time, groups aren’t formed on such a basis, so there will always be group members butting heads. Sometimes group disagreement can escalate to extreme levels.
How to avoid: If you know from beforehand that you cannot work with a certain co-worker, see if you can apportion certain tasks to each person, then meet only to put the separate parts of  the project together.

13. A very significant event occurred in your personal life. 
Drama potential: You just got married. Of course, we want to share significant events with all of those who are close to us, and that includes people at work. But think before you speak–a small conversation communicating your excitement can easily turn in to an annoying fixation such that no one ever wants to hear you talk ever again.
How to avoid: Don’t become the annoyingly solipsistic loudmouth at work. Keep talk of your personal life to a minimum.

14. You’ve had an argument with a Co-worker and you know you’re right. 
Drama potential: Even though you may be right all of the time, when there are unresolved issues among co-workers, everyone suffers. Refusing to apologize after an argument only keeps the cycle of workplace tension going.
How to avoid: Even if you are right, simply apologize. It is just as important to keep your boss happy as it is to be able to work well with your co-workers. Pride does not belong at work.

15. A colleague or supervisor is doing something wrong, and you want to complain to the company chief.
Drama potential: When something in the workplace is awry, sometimes your first instinct is to take your complaint to the top of the chain of command. Corporate hierarchy is the name of the game with most companies, so if you skip too many levels, you may end up aggravating many who work above you.
How to avoid: Make complaints only to your direct supervisor, and address your complaint as a “concern,” especially if the wrongdoing doesn’t directly involve you. If it is your supervisor who’s at fault, then talk only to his direct supervisor.

16. Work is tough and you have a desire to vent. 
Drama potential: What starts out as innocent venting about the trials of work can turn into full-blown complaining. A constant whiner will not only get a bad reputation at work, but he will also  foster a very negative work environment. This slows productivity. And people will eventually have only you to complain about.

How to deal with it: While there’s always a need to vent about your boss, or about your work assignments, don’t take it too far. Complain constructively.
Your turn/Assignment for incoming weeks
What is one difficult situation have you been in and how do you think you can deal with it?


CONCLUSION

Definitely the list of difficult situations presented here are not exhaustive, nor the suggestions given here totally conclusive, the primary keys to managing difficult work situations is to love your work. With that love will come tolerance of the people or situations that may be less than perfect.

Saturday, 19 November 2016

Core Banking and Retail Banking - The Difference

My friends in the banking industry could not help but spend a few minutes in my brief analysis of the difference between core and retails banking.

One thing I let my subscribers know is that there is a subtle difference between doing the job and doing the job with a reason. In the first, you don't have much to do with the theoretical concepts of the tasks provided you get it done, possibly efficiently.

In the later, you get to know the concepts behind the actions being taken and that is what a being a professional means.

That is would like to highlight the concept of Core Banking and Retail Banking.



1. Retail Banking (aka Consumer Banking)
Retails banking also called Consumer banking deals with providing financial services to customers. Customers may be individuals or corporate organisations

Examples of Retail Banking Activities
a. A bank account is opened for a particular customer
b. School fee is paid by a student and processed
c. Someone withdraws money from the bank's ATM
d. A debit card is provided for a customer
c. A company account is opened for staff of XYZ limited

2. Core Banking (aka Corporate Banking or Consolidated Banking)
Core banking deals with the transaction between a bank and other banks or between a branch of a bank and other branches. It may also involve transaction between a bank and some other organisation.
In core banking transactions details is shared between entities based on network and internet facilities. Core banking tasks may generally have been programmed to run at some intervals without the intervention of the customer or banking personnel.

Examples of Core Banking Activities
a. Communication between a local bank and bank overseas when on travels to another country with a local debit card and uses it for purchases
b. A bank consolidates data to a central repository from many branches in different locations
c. Communication between an ERP used by organizations and monthly cash transfer eg. employees salaries are transferred to banks at certain point in the month
d. Multinationals remit funds to the Federal account





Commercial Banks vs Marchant Banks - Compare and Contrast

My friends in the banking industry could not help but spend a few minutes in my brief analysis of the difference between core and retails banking.

One thing I let my subscribers know is that there is a subtle difference between doing the job and doing the job with a reason. In the first, you don't have much to do with the theoretical concepts of the tasks provided you get it done, possibly efficiently.

In the later, you get to know the concepts behind the actions being taken and that is what a being a professional means.

That is would like to highlight the concept of Core Banking and Retail Banking.



1. Retail Banking (aka Consumer Banking)
Retails banking also called Consumer banking deals with providing financial services to customers. Customers may be individuals or corporate organisations

Examples of Retail Banking Activities
a. A bank account is opened for a particular customer
b. School fee is paid by a student and processed
c. Someone withdraws money from the bank's ATM
d. A debit card is provided for a customer
c. A company account is opened for staff of XYZ limited

2. Core Banking (aka Corporate Banking or Consolidated Banking)
Core banking deals with the transaction between a bank and other banks or between a branch of a bank and other branches. It may also involve transaction between a bank and some other organisation.
In core banking transactions details is shared between entities based on network and internet facilities. Core banking tasks may generally have been programmed to run at some intervals without the intervention of the customer or banking personnel.

Examples of Core Banking Activities
a. Communication between a local bank and bank overseas when on travels to another country with a local debit card and uses it for purchases
b. A bank consolidates data to a central repository from many branches in different locations
c. Communication between an ERP used by organisations and monthly cash transfer eg. employees salaries are transferred to banks at certain point in the month
d. Multinationals remit funds to the Federal account


Thank for reading. If this have been informative for you, let me know in the comment box below.
You can also click on the follow button under my profile or give me a plus or thumbs up.


Monday, 14 November 2016

The 47 Project Management Processes(5 Process Groups, 10 Knowledge Areas)

Would you like to take your career to the next step?
A series of free training videos have been prepared on the 47 Processes of the Project Management Body of Knowledge


Project Integration Management (6 Processes)
  1. Develop Project Charter (Initiation Process Group)
  2. Develop Project Management Plan (Planning Process Group)
  3. Direct and Manage Project Work (Executing Process Group)
  4. Monitor and Control Project Work (Monitoring and Controlling Process Group)
  5. Perform Integrated Change Control (Monitoring and Controlling Process Group)
  6. Close Project or Phase (Close Project or Phase Process Group)

Project Scope Management (6 Processes)
  1. Plan Scope Management (Planning Process Group)
  2. Collect Requirements (Planning Process Group)
  3. Define Scope (Planning Process Group)
  4. Create WBS (Planning Process Group)
  5. Validate Scope (Monitoring and Controlling Process Group)
  6. Control Scope (Monitoring and Controlling Process Group)

Project Schedule Management (7 Processes)
  1. Plan Schedule Management (Planning Process Group)
  2. Define Activities (Planning Process Group)
  3. Sequence Activities (Planning Process Group)
  4. Estimate Activity Resources (Planning Process Group)
  5. Estimate Activity Durations (Planning Process Group)
  6. Develop Schedule (Planning Process Group)
  7. Control Schedule (Monitoring and Controlling Process Group)

Project Cost Management (4 Processes)
  1. Plan Cost Management (Planning Process Group)
  2. Estimate Costs (Planning Process Group)
  3. Determine Budget (Planning Process Group)
  4. Control Costs (Monitoring and Controlling Process Group)

Project Quality Management (3 Processes)
  1. Plan Quality Management (Planning Process Group)
  2. Perform Quality Assurance (Executing Process Group)
  3. Control Quality (Monitoring and Controlling Process Group)

Project Human Resource Management (4 Processes)
  1. Plan Human Resource Management (Planning Process Group) 27
  2. Acquire Project Team (Executing Process Group) 28
  3. Develop Project Team (Executing Process Group) 29
  4. Manage Project Team (Executing Process Group) 30

Project Communications Management (3 Processes)
  1. Plan Communication Management (Planning Process Group) 31
  2. Manage Communications (Executing Process Group) 32
  3. Control Communications (Monitoring and Controlling Process Group) 33

Project Risk Management (6 Processes)
  1. Plan Risk Management (Planning Process Group) 34
  2. Identify Risks (Planning Process Group)
  3. Perform Qualitative Risk Analysis (Planning Process Group)
  4. Perform Quantitative Risk Analysis (Planning Process Group)
  5. Plan Risk Responses (Planning Process Group)
  6. Control Risks (Monitoring and Controlling Process Group)

Project Procurement Management (4 Processes)
  1. Plan Procurement Management (Planning Process Group)
  2. Conduct Procurements (Executing Process Group)
  3. Control Procurements (Monitoring and Controlling)
  4. Close Procurement (Closing Project Group)

Project Stakeholder Management (4 Processes)
  1. Identify Stakeholders (Initiating Process Group)
  2. Plan Stakeholder Management (Planning Process Group)
  3. Manage Stakeholder Engagement (Executing Process Group)
  4. Control Stakeholder Engagement (Monitoring and Controlling Process Group)

Edited by Kindson Munonye