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Stakeholder Management.

  To understand stakeholder management , first we will need to understand what a stakeholder is. To simply explain this, it is a person or a group of persons who has a certain interest in something particularly the matters of an organization. They can affect of get affected by the matters of the company. They can particularly be the investors or sponsors, employees, suppliers and customers however according to modern theories it can also include trade association, government and community. They are further divided into two categories i.e. internal stakeholders and external stakeholders. Internal Stakeholders: The people who are greatly affected by the outcome of the business are internal stakeholders. External Stakeholders: They are a little hard to identify because they do not have a direct link to the matters of the company or the outcomes of the business but they are somehow related to the operations of the business. If we take an example of the Government, it does have an influence
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Project Cost Management.

Project Cost Management , as it is obvious from the term is the management of the cost that the company/organization/owner has to bear for the completion of a certain project. It involves the planning and budgeting of all the possible expenditure for the completion of a project or a business. Planning is needed before taking any step in a business because we cannot step into anything new without having an idea about the outcomes and what it will cost us because no one has an unlimited budget. Only a certain amount of finances from a company or a person can be spent on a project or a business. In the planning phase, costs are carefully assigned to the parts of the projects and then closely monitored if everything is going according to the plan or not. How successful was the planning and budgeting can be checked by comparing the planned cost and the cost that has actually incurred. By doing this, Cost Management of the future projects can be done more efficiently if any point was missed
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Elaborate Service Strategy.

It is the origin and center point of the service life cycle in ITIL . It provides enhanced guidance over what should be What is the purpose of service strategy ? The main purpose of the service strategy is to define clearly the perspective, position, plans, and patterns that are needed to bring the desirable outcome for the What are the objectives of service strategy? l  The first objective is to make us clearly understand what a strategy actually is. l  Then the second objective revolves around the meaning of services and the customers who actually use them. l  The third objective revolves around defining what how the value should be created and then delivered to the customers that required the services. l  Fourth point circulates around the need to give opportunity to provide better services. l  Fifth point is to get a clear and proper model of what services are needed and how they will be funded and delivered. Its purpose needs to be defined too. What is the scope of service strat
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Syllabus of ACP Explained.

To excel in any certification or qualification one has to be very considerate about the curriculum of its subjects and the material one has to cover to get a full grip on the subject or certification or a qualification. Before discussing the syllabus, we ’ll go for the Exam Format first: Number of questions: There are 120 questions for this exam in which there are 20 questions that are called pre-test or random questions whose score is not included in the final result. Type of questions: All of these questions are multiple choice questions with four options each Duration of exam: The duration of the exam is three hours. Type of exam: It is a computer based exam taken in a certain exam centre. Syllabus: Now coming on to the actual part, The syllabus of this exam is lined out as “Domains of Practices”. There are seven domains of practices for the Agile Certified Practitioner exam. Domain I Agile Principles and Mindset : This domain covers 16% syllabus of ACP exam questions. Domain II Val
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Change management in a project.

Project managers have to deal with many things while working on a certain project. A tiny change can alter the project and its undergoing progress a lot so it is better to understand how it is done properly in order to avoid convenience. The sole purpose of change management is to ensure that a change is going to bring a positive result and the intended and expected results before the change was introduced. It is not entirely possible but to attain maximum benefit is preferable. One huge change that can be expected or unexpected but it has a huge impact on the project is change in people. Change is understood in different levels in an organisation  i.e. l  Enterprise level l  Project level l  Indi vidual level Enterprise Level: Competency and capability of an organisation . Project level : When we are taking multiple initiatives, the benefit and value creation of and for the organisation  should be kept in mind. Individual level : It is an approach that depends of the one person to va
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What is Project Risk Management?

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Risk is something that can never be avoided in a business. W hile projects are undergoing for the businesses and organisation , we can never say or tell that the project is planned out perfectly and nothing can go wrong. A nything can go wrong when the outcome is being achieved, there is no such thing as perfection because planning and execution are greatly related but totally different aspects. What we plan while making a project charter always leaves some space for risk because some things might not go according to as planned, so it needs to be fixed before it does a damage that cannot be comprehended. For this specific task, project risk management does its wonders. P roject managers are there to ensure that the risks that the project faces are kept minimal in order to avoid disappointment. If we divide it further, risks are divided into two parts: l  Positive Risk Impact l  Negative Risk Impact Risk Management basically comprises of four major steps mentioned as follows:   l  Risk
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