Newsletter – June 2014

 
June_ChapterNews_2014

June_ChapterNews_2014

Newsletter - June 2014
PM Essence Chapter News- Capt. L. N. Prasad Agile Advanced Program (14 PDUs):  A two day Agile Advanced program was held on 3rd and 4th May 2014 at DHI Leadership Centre by the Chapter. This program enables those who want to pursue PMI-ACP certification and fulfil the mandatory 21 contact hour requirement.      Participation in Central Illinois PMI Chapter: On 7th May 2014 the Chapter took part in the PMI 2014 conference of Central Illinois Chapter USA. The Chapter shared its Vision and Experiences, to the Conference participants, through live Skype coverage.  PM Footprints (1 PDU): This month two Footprints session were held. On 8th May 2014, Mr. Rudresha T Shetty spoke on the topic "Leaping from Water Fall to Agili...
June_LSPM_2014

June_LSPM_2014

Newsletter - June 2014
PM Essence Q. What is the relevance of Sunk Costs in Project Investment Decisions?    A. The When making business decisions, each option you face has associated future costs and associated future revenues. Typically, you will compare the future revenues to the future costs, and adjust for the timing of the cash flows and for the risks involved. This provides a comparison of the likely profitability of each option.   Sunk costs are money that you've already spent on one of the options, before making the decision. Regardless of which option you choose, the money has already been spent.   Let's say you have two innovation projects. Project 1 has invested $100K so far. Project 2 has invested only $10K so far. Rationally, we must select which...
June_EditorsNote_2014

June_EditorsNote_2014

Newsletter - June 2014
PM Essence Editor’s Note Dear Colleagues, Warm greetings from PMI Bangalore India Chapter! There is a sense of change in the air and our beloved chapter wasn't an exception. New board members have come in, the grueling PMPC 2014 is in the horizon and it was only natural that we reorganized ourselves to cater to the increased set of responsibilities.  Happy to be taking over the editorial tasks needed for publishing our PM Essence, from this month onwards, from the ever passionate and a very thorough Soumen. Many thanks to him for keeping us in touch with all that is happening at the chapter, the opportunity and the motivation provided to many of us who are willing to share the knowledge and experience with the member community. If there are any mistake
June_PMArticle_A1_2014

June_PMArticle_A1_2014

Newsletter - June 2014
PM Essence Managing Scope - Gets PM Article under Microscope- Chandan Pahuja, PMP One of the cornerstones of successful scoping of a project is to continuously determine “what is” and “Is Not” included in the project. While “In-Scope” section gets its fair share of time and effort by the Project team under the leadership of a project manager, “the out-of scope” sometime gets left out with little to no focus to meet its own fate. .    While focusing on “In-Scope” helps team keep tab on delivering “what work is required and ONLY that work is done”, sparing rightful time and effort on “Out of Scope” outwardly brings in several project and program

June_PMArticle_A2_2014

Newsletter - June 2014
PM Essence Business Transformation using Analytics - Sivaramakrishnan Narayanan, PMP, IBM India Pvt. Ltd. Like coastal cities seeking shelter from successive onslaughts of blizzards and floods, today's enterprises are striving to come to terms with their own extreme conditions. Business leaders concerned with how they will weather the storms are questioning whether traditional techniques will continue to work. In an environment that has little resemblance to the past, old ways of decision making and management are breaking down.   Today's leaders sense an inflection point, an opportunity to revisit their use of information, or analytics, and fundamentally alter the w...