Topic: PMI News

PMI News

New solution simplifies time and task entry for project management 0

PMI

A recent survey by the Project Management Institute showed that imprecise time and task management is the main cause of project failure, at least 28 percent of the time.

specialist project management software Changepoint aims to address this with a new solution that team members can use to easily capture the data of the task and the time at any time, any place and on any device.

Daptiv called TTM ensures fast and accurate information, which accelerates time and task input frequency, thus minimizing the risk of incorrect or delayed data. As a result, project managers can make more informed personnel decisions, better control costs and to meet its contractual obligations and regulatory work.

“The project’s success is based on the time and task management which requires accurate data,” says Eric Bergman, Vice President Changepoint product management. “The team members need a way present information with ease and accuracy.

Daptiv TMD is simple, easy to use and works on phones, tablets and laptops. teams can improve monitoring of tasks and submit timesheets, the stakeholders get a more accurate view of project status, and initiatives forward in time and within budget. ”

The software works with a project management Daptiv PPM existing Changepoint solution, so administrators can accurately understand the use of resources, to better see where the team members spend their time, and predict more accurately demand each resource.

The service sector is drawn warning shots in the economy 0

The services sector sends warning shots possibly indicating the sluggish economic growth in the second quarter.

The flash purchasing manager of Markit Economics index (PMI) fell to 51.2 in May. Economists had expected the PMI index rose to 53 from 52.8.

Markit survey service providers – contributing two-thirds of economic activity – showed that its business optimism fell to its lowest level in almost seven years.

the service sector activity expanded at its slowest pace in three months, and employment fell at the slowest pace since December.

JP Morgan economist Daniel Silver noted that many other series in the report were low in historical terms.

PMI Busniess Index

“Having successfully informed the virtual stagnation of the economy in the first quarter, surveys now point to only 0.7% annualized GDP growth in the second quarter, despite sudden changes in June,” said Markit Chris Williamson, Chief economist.

The preliminary index remains above 50, which indicates that the services sector is still expanding.

Markit service providers said that customer demand was weak, as a less favorable economy weighed on their businesses. Some companies have even cited the presidential election as a source of uncertainty.

April Markit report showed the sector grew at a faster pace than expected. However, job creation has slowed: Markit survey found that 160,000 jobs compared with an average of 200,000 in the first quarter were added.

A preliminary estimate of Q1 GDP showed the economy grew 0.5%. The second estimate on Friday, expected to show a upward revision to 0.9%.

Project Management Institute’s Ireland Chapter holds biggest national conference to date 0

Ireland Chapter of the Project Management Institute (PMI) theme “Leadership in delivery” and the importance of the project management profession for foreign direct investment will be highlighted,

Three hundred delegates to the sold out event learn that Ireland is the leader in Europe for the profession. Several multinational companies manage their operations by the project management and more than 50,500 people are employed in functions related to project management in Ireland.

Addressing the conference, President of PMI Chapter Ireland Niall Murphy said: “Irish project managers are now recognized for their skills, experience and caliber of qualifications of third internationally.
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We are seeing a trend where several multinational companies that are based in other countries, the location on the side of project management operations in Ireland. The sector has a significant impact on foreign direct investment here and our project managers should be very proud of that fact. ”

Gary Keegan, director of the Irish Institute of Sport, will deliver the opening speech of the conference. He will be accompanied by a number of other high-level speakers, including three Irish Commercial Director Elaine Carey and motivational speaker Paul McNeive.

Commenting on his speech, Gary Keegan said: “There are many parallels between the effective project management and leadership sporting success. At the Institute of Sport, which focus on creating a structured, managed to put our Olympians and Paralympians to deliver to Rio. To be successful in sport, as a business, you need a plan. For a project or plan to implement successfully, you need leadership. For Irish project managers remain world leaders, it is essential that they understand the importance of leadership in the profession. For this reason, the theme “Leadership in delivery ‘is so appropriate for today’s conference.”

Delegates will also hear that Ireland has the highest percentage of projects of female managers in Europe, with 30% of these positions held by women. PMI has more than 482,000 members worldwide and chapter Ireland is the highest per capita of the population in Europe, with 1,000 members.

PMI is the association of professional members nonprofit world for the project management profession, leading to certification in project management, education, research and training.

Construction Activity Grew At The Fast Pace In 15 Year- Ulster Bank PMI 0

PMI

The PMI indicates there have been consecutive monthly increases in construction activity for the last 28 months

Construction activity grew at its fastest pace in over 15 years last month, according to the latest purchasing managers index in Ulster Bank Building.

New business has expanded significantly during the month, leading companies to increase their buying activity and employment to record levels.

Ulster Bank PMI index seasonally adjusted designed to track changes in the overall construction activity, rose 68.8 in February from 63.6 in January.

It was the highest reading in the survey’s history, surpassing the previous record of November 2004.

The PMI indicates that there have been consecutive monthly increases in construction activity over the last 28 months.

According to the survey, business confidence also improved to a maximum of three months, with further improvements in economic conditions in the next year.

record growth rates were observed for housing activity, with further expansion of residential projects.

Meanwhile, the PMI shows civil engineering activity increased at a much faster pace than in January, and was at its highest level since August 2006.

Construction companies have responded to this increased activity to take new employees and creating employment rate picked up for a second month. The PMI indicates an increase in employment growth was recorded in each of the last 30 months.

Commenting on the results, Ulster Bank economist Simon Barry said records showed the growth rate “should be considered in the context of what are still very low levels of construction activity.

“This point was confirmed by the latest national figures accounts week showed that even after three years of recovery with very high rates of growth, construction output remains 50% below the peak levels before the crisis” he added.

Why do companies do what the CEO 0

PMI

Mark Langley believes he has three answers to a question that embarrasses leaders. Why companies are not what the CEO told the big projects?

Langley is president and CEO of Project Management Institute, the largest association of project management global world, serving three million professionals in 190 countries. And his first response, predictably, is that CEOs are too busy. “When they reach the point where they believe they have determined the direction of their organization, they believe the organization will hold its direction,” he said. “And your time is consumed in other areas such as bonds regulation, the customer and the bank. They are overloaded in terms of their attention span and ability to concentrate.”

second reason for Langley, where he says he gleaned in expert management strategy Tom Peters, is that: “Projects are hard and when things are tough, people go and do something else” “It’s difficult,” Langley continued, “. because it is different from manufacturing or processing or anything that the company day to day makes your business. the production of the same thing over and over again is very different from trying to do something different every day, week or year. what happens with projects and programs it is that they are fundamentally different from the current company and the ability to meet each is different and unique. ”

final reason for Langley came from a member of the global executive board of PMI. “The fact that the CEO says something does not mean it will happen,” he said. “For this to happen, companies need to do many things. There is an element of an organization expect to be able to understand, simply, but companies that are top performers know that explore building means strategic competition with major projects and programs help ensure that the organization is successful. ”

Project chess

Therefore, says Langley, many projects fail due to lack of budget and time overruns and the inability to achieve the objectives. Globally, PMI research found that most companies in the world, because of the risk of about 11 percent of project budgets low performance lost and there is a huge gap between the top and bottom. artists

The Growth Of UK Services In Nearly Three-Year Low 0

PMI

Dominant service sector in the UK weakened in February, recording its lowest growth rate in nearly three years, a survey has indicated.

The latest Markit index service managers / CIPS purchasing (PMI) fell to 52.7 last month, below the 55.6 reading in January.

Any figure above 50 indicates expansion, but the increase in service sector activity was the lowest since March 2013.
The service sector represents more than three quarters of the UK economy.

Research Markit / CIPS earlier this week put manufacturing and construction PMI 50.8 to 54.2.
“The smaller increase in service activity primarily reflects a slowdown in new business expansion,” according to the survey.

The head of Markit Chris Williamson economist said: “The survey responses indicate that companies are concerned about the signs of faltering demand, but the tables have also become disturbed by concerns about the increased risk of ‘Brexit’ volatility in financial markets and low economic growth and abroad. ”

He added that the extent of the slowdown would come as a “shock” for politicians and end talk of a possible rise in interest rates.

Williamson describes three readings of PMI in February as “a triple whammy disappointing news of the investigation.”

“Listless” economy

Last week, official figures confirmed the UK economy grew by 0.5% in the last three months of 2015, the service sector has shown that the key factor driving growth.

The National Bureau of Statistics said services “dynamic” offset a “relatively slow” the rest of the UK economy.

Signs of weakening growth in the UK economy have pushed the estimate of when the Bank of England could start raising interest rates.

Commenting on the latest PMI survey, Jeremy Cook, chief economist at First World, said: “The Bank of England’s May meeting had been viewed as a possible time for a rate increase, volatility in global markets and -infligée auto injuries. put referendum on the EU not paid for that month.

“We still believe, however, that some of the measures that provide the Bank of England keeps rates at 0.5% until 2020 is nothing short of absurd.”

Martin Beck, economic adviser to EY article Club, said the PMI readings provide “plenty of food for thought” for rate setting Monetary Policy Committee of the Bank of England.

He added: “Members will have to judge the degree to which the polls deflect a real slowdown in the growth of the company, or simply reacting to negative headlines since the beginning of the year Actually, growth may be softening, but perhaps no. strongly that the survey data suggest. ”

Meanwhile, a similar survey showed that companies in the euro area have had their worst month in more than a year, in February, reinforcing the case for further easing of monetary policy by the European Central Bank.

Markit PMI final composite, which is considered a good guide for growth, fell to 53 last month from 53.6 in January – its lowest level since early 2015.

However, it was better than the preliminary reading of 52.7 and well above the 50 mark that indicates growth.

Asian Markets Mostly Higher, Ignored The Weak Data From China 0

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Asian markets were mostly higher Tuesday as markets digest surprised by the central bank of China movement reduced the reserve ratio deposits of banks (RRR) to free liquidity, ignoring fresh negative economic data continent.

The benchmark Nikkei 225 in Japan retraced losses of more than 1 percent to trade nearly flat. The South Korean market is closed for a holiday.

Chinese markets oscillated between positive and negative after cutting RRR and worse than expected manufacturing data. In the business of the afternoon, the Shanghai Composite rose 0.44 percent, while increases Shenzhen composite was 0.59 percent. The Hang Seng index of Hong Kong added 0.40 percent.

Australia S & P / ASX 200 closed the trading day up 41.37 points, or 0.85 percent, to 4,922.30, with most earning sectors. The financial services sector largely weighted average closed up 1.6 percent, while the energy sector gained 1.81 percent.

Miners mostly recovered, with Rio Tinto gaining 2.66 percent to 6.37 percent and BHP Billiton Fortescue addition of 2.95 percent. Newcrest gold miner closed up 4.51 percent with a spot gold trading up 0.46 percent at $ 1,243.80 an ounce.

Elsewhere, the Reserve Bank of Australia kept its cash rate unchanged at a record low of 2 percent on Tuesday; The decision was widely expected by analysts. The Australian dollar did not react much against the dollar, with the pair from 0.7129 13:35 SIN / HK time against about $ 0.7122 before the data.

Before the market opened, Japan issued a series of economic data gave mixed signals. Household spending in January fell 3.1 percent year on year in real terms adjusted for price. The decline was stronger than the forecast of a decline of 2.7 percent from a Reuters poll. On the other hand, the seasonally adjusted unemployment rate in January fell to 3.2 percent, better than market expectations of 3.3 percent.

The yen remains strong against the dollar, which is on the handle 112. The pair traded down 0.12 percent to 112.53 at 1:37 pm HK / SIN. Exporters were mostly down, with Sony up 1.11 percent and Honda erasing losses to climb 0.14 percent. Usually, a stronger yen is negative for exporters as it reduces profits abroad by becoming local currency.

Data on the continent was also a concern. Chinese government data showed activity in large factories contracted for the seventh consecutive month in February. The index of purchasing managers official manufacturing (PMI) was 49.0, lower than the market forecast of 49.3. official manufacturing PMI reading was 49.4 in January. official China services PMI fell to 52.7 in February from 53.5 in January.

Caixin China manufacturing PMI, which tracks the activities of small and medium enterprises and released after the official report, reached a five-month low of 48.0 in February, down from 48.4 in January.
There were no sudden changes in Asian stocks after the release of economic data from Japan and China. But analysts warn that the rally in risk assets has worn look.

DBS bank in Singapore, in a Monday note “The global rally in risky assets could run out of fuel soon.”
The graph suggests lecture notes, or technicians, who had supported the current risk rally since early February, ambivalent look.

“Optimists could take to support policies or communication (ECB) from the policy meeting of the European Central Bank on March 10. And there is also the meeting of the Federal Open Market Committee (FOMC) of the Federal Reserve United States 15-16 March. However, nothing less than spectacular, the risk asset markets are likely to take down, “said the note.

Added to that, the lack of direction of the economy and the markets of the G-20 last week in Shanghai a few skeptics “meeting statement as an implicit admission of the failure of monetary policy,” DBS said.
Earlier, the People’s Bank of China (PBOC) set the midpoint at 6.5385 yuan per dollar, stronger than Monday’s 6.5452 yuan correction. The yuan strengthened against the dollar, trading the pair down 0.18 percent to 6.5409 from 09:40 HK / SIN.

Monday night local time, the central bank also cut its reserve ratio requirement (RRR). The RRR defines how much capital banks must hold in cash depositors, so the cutting speed allows more money to flow into the financial system. Reuters reported that the endpoint of the largest Chinese banks by 0.5 percentage points would have meant a proportion of 17 percent of reserves.

Goldman Sachs analysts in a separate note that in the very short term, cutting RRR can boost market confidence “, as this is the first major (and publicly announced) monetary easing since October 2015, against a correction and the context of oversold market is likely in the short term “.

But Goldman Sachs analysts said, the return path market is likely to “remain difficult in the medium term.”
Concerns about liquidity had caused Chinese markets to collapse last week. Monday, the Shanghai Composite closed 2.87 percent after falling more than 4 percent early in the session.

US crude retraced losses in afternoon trading, up 0.18 percent to $ 33.81 a barrel time of 13:39 HK / SIN, after settling 3 percent overnight.

The May contract for Brent crude was steady at $ 36.60, after settling 3.2 percent overnight.

During the hours of the US, the April contract before month global benchmark Brent closed up 87 cents, or 2.5 percent, to $ 35.97 a barrel before expiring and board.

Energy games across Asia were mostly higher time with Santos adding 3.63 percent, Woodside Petroleum up 1.78 percent and Japan Petroleum gained 2.2 percent.

Mainland China oil plays mainly traced losses, with Sinopec up 3.16 percent.

Overnight, the major US indices closed lower, the Dow Jones Industrial low 0.74 percent. The S & P 500 0.81 percent, while the Nasdaq composite fell 0.71 percent.

Best Project Management Certifications For 2016 0

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Project Management Certification have claimed a place in the main avenue of IT certification lists for the year.This is because project managers are important for the IT-operation of all kinds.If you are interested in an IT project managers are or want to add project management to the list of social skills,these 5 best certifications help supplement their technical skills and in return they increase their value.

If there are a number of soft skills,which has remained on the radar of IT in the last decade at the top,or at the point where almost and sought after as valuable as other credentials the top level management has project.Thanks in large part to the very popular and widely persecuted Project Management Professional (PMP) certification from the Project Management Institute (PMI),this area has,to an incredibly valuable credentials merit badges for IT professionals of all kinds,and expanded greatly better value and almost any other type of technical credentials.

If you’re wondering why this should be the case,think about what project management means and implies for a moment.It has everything to do with the planning,programming,budgeting,and implementation and reporting on the projects of all shapes and sizes.For anything and everything that is not understood,or as a project of some sort can be handled either as part of a class activity that occurs only once or very rarely (I think hardware upgrades or the operating system,or the migration to new platforms and infrastructures) or a periodic series of activities that are repeated periodically (think security patches,software updates or other regular maintenance) project Management for IT operations very important of all kinds.

According to the PMI Salary Survey,Eighth Edition,IT professionals who hold the PMP credential report median earnings worldwide of $108,000 annually.Depending on factors such as the complexity and size of the project,location and field of expertise (IT,construction,or healthcare,for example),or experience ,salaries for PMP credential holders may be much higher.The Robert Half Technology 2016 Salary Guide lists project management as one of the hot certifications for 2016,citing a salary range of $95,250 to $146,500 nationwide.This explains quite nicely why the PMP has appeared in nearly every top 10 list of popular,targeted or most desirable certifications since the early 2000s.

To give you an idea of the search for project management credentials employers potential candidates,we have a quick overview of some popular job boards (see Table 1).Obviously,the PMP is the overall favorite and remains our number 1 pick for must-have project management credentials.

Table 1: Job Board Survey Results

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Project-Based Learning Gets Project Manager Make-Over 0

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The concept of project-based learning is ultimately a foundation based on formal principles of project management.The Partnership for 21st Century Learning (P21),a nonprofit organization focused on the development of resources to schools in the practices of a century and more 21 education learning operation,working with materials management Foundation projects Project Management Institute Educational educators available to help.The Foundation is a global membership organization that certifies directors of projects associated with the company.

The Foundation gave a grant of $475,000 P21 in order,with the title,to finance the development of a toolkit of online conversation.The idea is to bring the project managers in the work of educational transformation in their communities and help better understand teachers and administrators,and to implement the project-based project management and related skills in the classroom learning.

The material includes tips for engaging the community as actors in the work,references to projects that can be used in learning scenarios and links to the districts.The same skills that young people need to succeed in school and in the workplace are those used in successful projects,Michael DePrisco said, who heads the scientific and educational programs for the Project Management Institute.

Project management helps you to learn to think creatively,communicate effectively and work together with their colleagues.We understand the value that the project-based learning in addition to classrooms,but equipping teachers and students with the skills of project management ensures that best know how to professionally manage these projects.

3 Things CFOs Should Know About Project Management 0

A structured project management to achieve business results through a strategic focus on the most important initiatives of a corporate approach is essential to the success of any organization.It is also a powerful tool for CFOs,if they act primarily as portfolio managers of its financial institutions and property, or also as a strategic advisor to the CEO.

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However,CFOs often include project management as a role,a job or organizational skill that allows the delivery of strategic initiatives.I speak from experience.When I’m a CFO,I do not quite understand .Research by the Project Management Institute shows that executives recognize the importance of the strategy and its implementation,with 88% saying that either the successful execution of strategic initiatives will be vital important for the competitiveness of their organizations in the next years (I can not help wondering what the other 12% thought).

However,61% of respondents acknowledged that their companies often struggle to bridge the gap between formulation and implementation of strategy in the day.And only 17% rated the implementation of the strategy and policy of apparently considered as operational or tactical so it is not surprising that organizations are struggling to gain a competitive advantage.So the first thing I would tell a CFO is that all strategic initiatives are delivered through projects and programs.

When I’m a CFO,I worked in a company where we used what I think the management of force as brutal.Hard-working,smart people focused on positive results without any sense of structure and consistency in how to achieve these results,and no understanding of how these results could contribute to the overall success of the organization.We managed,but in the years since I served in this role,I have often wondered how much more profitable than we could have been had we formalize our organizational capacity in project management and program,which would have to avoid recreating the wheel (and spend money and even more) every time we entered a new market.

The second thing I would say to a CEO is how much money is wasted on projects that do not meet their objectives due to poor performance.On average,organizations in the public and private sectors are losing $109 million per $1 billion invested in projects and programs of almost 11 cents,according to research results presented at the PMI report profession pulse.More than half of the projects are over budget,one-third fail to achieve business objectives,and 17% of total failure.Someone had presented these figures to me when I was a CFO would have broke into a cold sweat.

In its role as financial management,it is likely to have visibility into the success or failure of individual efforts and assess on a series basis.But how often do you look at the waste generated by the poor performance of projects across the enterprise? Do you have the visibility or the means to measure the overall success of the project and,by extension,the strategic success of the organization?

Seeing the project as a portfolio of collection activities that drive the strategy of your organization,you will have a better idea of ​​not only how the organization achieve its strategic objectives,but where waste is hidden in the form of bad results.To ensure transparency, the third thing I want to say a CFO is to have a project management culture can make your life easier. If you do not understand what project management to your organization’s ability to grow and compete, and how the money is spent on strategic initiatives is (or not) to contribute, you can not make the best decisions about where to invest.

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The operations of your organization reflect what you are today. But if you can not see your future strategy reflected in its portfolio of projects and programs, it has little chance of success. And if you can see, but do not have the management capacity to implement projects and provide the most important strategic initiatives of your organization, you will lose to competitors who have built a culture of management and the ability project in their culture.

Why spend the time and money creating a unique strategy without ensuring your organization has the capability to deliver it? Neither a CFO nor any senior executive should leave strategy implementation to chance or assume that the operating divisions will figure it out.Don’t wait as long as I did use your knowledge and influence to help recognize project management as the strategic competency that delivers results.