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GRC Professional : GRC Summer 2012
PROBLEM SOLVING 36 GRC Professional • Summer 2012 Project management skills Project management is one of the skills gaps that governance, risk and compliance managers frequently ask ACI about. Here are some project management tips to help you work more effectively. BY ALI KLAVER PROJECT MANAGEMENT IS THE planning, organisation and management of resources to achieve specific goals – applicable across all areas of an organisation and for large and small undertakings. David Lawrence, President of the ACI, says that project management aids compliance and risk managers across the board, from identifying standards such as what needs to be done, who needs to do it and when, and to what level of quality. “Once you’ve identified these standards, you can draft a plan integrating time and resources,” he says. “The next step is about tracking your progress, and your project plan allows you to do that.” Achieving the specific goals of any project is reliant on certain universal constraints that are typically scope, time and budget (reflected in the project management triangle, also know as the triple constraint). The project management triangle This sounds relatively simple, but David Hudson, CEO of The Australian Institute of Project Management (AIPM), says that there are layers of complexity. The AIPM has a two-pronged approach around project management. The first is providing the framework and workplace assessment to prove competency, and the second is to ensure that people who buy project management services are buying competent services. “You can have knowledge and awareness, but that doesn’t make you competent,” Hudson says. “Some people might have a knowledge foundation, but what they need is the practice and the discipline within the frameworks to become competent.” Examples of compliance and risk specific project management: • Implementation of a widespread redundancy plan • Rolling out a new national bank product • Ensuring risk is addressed in earthquake planning • Introducing heightened safety standards in a hospital. Step by step Depending on the type of project, the management process will generally include: • Initiation • Planning or development • Production or execution • Monitoring and controlling • Closing. From: A Guide to the Project Management Body of Knowl- edge, Project Management Institute (PMI) (2010). SCOPE COST SCHEDULE QUALITY If we had people that could manage the projects on the ground then we’d get the right outcomes instead of relying on financial compliance to guarantee better organisation operations.
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GRC Autumn 2012