Strategic & Business Management for Project Managers

In December 2015, PMI introduced the PMI Talent Triangle to highlight the ideal skill set that a professional project manager should possess.  This new talent triangle also set the expectations for various PMI designations holders to fulfill their professional development units (PDU) requirements.  The three sides of the triangle represent technical project management, leadership, and strategic & business management.

Source: www.pmi.org (2015)

The technical project management and leadership domains were carried over from the previous PDU system.  However, the strategic & business management is a new introduction to the talent triangle.  Since the new talent triangle has been in effect, I have been trying to get a better understanding of what does that mean to me as a PM?  So, I would like to share my initial thoughts with you on what I think this domain of knowledge mean and why this skill is becoming an important component for project managers.

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4 ways to differentiate between a risk and an issue

A common question arises from the community of project management is:  what is the difference between a risk and an issue?  This post will outline the four questions you can use to differentiate between the two.  Included in this post, you can download a free template of the risk register I used to manage my projects.

Risk vs Issue

According to PMI:

A risk is defined as an event that as not occurred yet whereas an issue is something that has happened.

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2 minutes before an important meeting

As a project manager, I spent most of my day in meetings.  Some of them are regular project team meetings, which most PMs would have no problem managing.  However, once in a while, there will be an important meeting which has a high stake in the project and impact to my creditability, if the meeting does not go well.  In these cases, I like to spend at least 2 minutes just prior to stepping into this important meeting in preparing myself, especially my self-confidence.

Goes without saying, each successful meeting requires the PM to do their homework and prepare for the meeting so meaningful conversations can occur and desired outcomes are reached.  So, this post is not talking about how to adequately prepare for project meetings.  Instead, this post will share the trick and science behind what Dr. Amy Cuddy called the “High Power Pose”.

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