Saket Bansal, Author at iZenBridge

Learn How To Realize Positive Risk Response Strategies (Opportunities)

December 26, 2019

Taking care of opportunities is one of the antidotes to the project success. And, sometimes cautious responses to project risks help in realizing opportunities. But, many of us believe that risks create an adverse impact on projects; it is not always true. Risk can be positive also. Now the question is – what is a positive risk? It is something like an opportunity is there, but we have some risk to realize it. If these risks occur, you will get…

What is Configuration Management?

December 12, 2019

Saket Bansal

PMP®, Project Integration Management

6 Comments

Before we set out to define configuration management, it is crucial to understand why we need it in the first place. How does it come into the play? Let us consider a situation wherein you are working on one of the work packages. And, looking at the WBS dictionary for acceptance criteria. You have completed the development of the deliverable and sent it to the Quality Control. You are surprised to see that the quality control team rejected the deliverable.…

What is the Point of total assumption (PTA) ?

December 10, 2019

Saket Bansal

PMP®, Project Cost Management, Project Procurement Management

18 Comments

During my interaction with Project Management Professional (PMP)® Certification aspirants, often I see that they take the Point of Total Assumption as a confusing concept. I observed that there are lots of misunderstandings and confusions that need clarity. Though not a crucial question from the PMP® exam point of view, it still needs a detailed discussion. In this blog, I will address the puzzling PTA concept with simple to understand examples. This concept is only related to fixed-price incentive fee contracts.…

What is The Difference Between Risk Appetite, Risk Tolerance and Risk Threshold?

December 10, 2019

Saket Bansal

PMP®, Project Risk Management

One Comment

In the past few PMP® Certification Facilitation sessions, many professionals have been asking me – What the Difference between Risk Appetite, Risk Tolerance, and Risk Threshold. Thus, I thought of explaining the same in my next blog post. Here, we will discuss each term in detail and study the differences. Now, the question is – What is the primary reason for the confusion among these terms? I observed the following crucial reason – All these three terms reflect the attitude…

How to Calculate Communication Channels?

December 5, 2019

Saket Bansal

PMP®, Project Communications Management

14 Comments

Whether you lead a project, own the product delivery, or involved as a subject matter expert, you are all in the communication business. In this business, effective communication is the most important success factor. And, increasing communication complexity is a major obstacle to ineffective communication. Now the question is how to discover your project communication complexity? The answer lies in the number of people who are communicating with each other. Knowing the number of people in the project brings awareness…