admin, Author at Business Beam

Difference between IT Governance and IT Service Management

admin — Wed, 04 Nov 2020 12:40:11 +0000

In the current age where online businesses and resources are booming, digital transformation is the go-to strategy for success. Even value creation for stakeholders is now driven by a high degree of digitization in business models, efficient processes, and successful innovation.

As information and technology have become the backbone of products and services, the need for having a strong framework to govern and manage both these components has also become imperative.

Regulators, Business, and IT Management now fully realize that the best value cannot be delivered unless an enterprise is effectively governed and managed.

As a result, they emphasize formal IT governance and management frameworks based on globally recognized best practices like COBIT, ITIL, ISO 27001, etc. These frameworks address both governance and service management aspects of an enterprise.

However, there is a problem.

The terms IT Governance and IT Service Management tend to be used interchangeably. This results in a confusion regarding the scope and roles of both.

While both are used together, they cover two completely distinct verticals. Therefore, it is imperative to understand what each term means and differences.

What is IT Governance?

One of the most agreed-upon definitions of IT governance is ?ǣthe processes that ensure effective and efficient use of Information and Technology (I&T) in enabling an organization to achieve its goals.???

As an integral part of enterprise governance, IT governance consists of organizational structures, leadership aspects, and processes that ensure the extension and maintenance of organizations??? strategy and objectives.

The main benefit of having governance is value creation. Value is created when:

Anticipated benefits of services, programs, projects are realized;
Different risks of types pertaining to the business are optimized; and
The use of available resources is optimized.

This is the role of governance. It evaluates, directs, and monitors plans, benefits, risks, and resources to ensure value delivery to its stakeholders.

IT governance further ensures the alignment of IT with organizational goals and strategy, improved compliance, reduced IT risk, optimized IT operations, and increased performance visibility.

What is IT Service Management?

IT service management (ITSM) encompasses all the activities involved in planning, designing, transitioning, delivering, and continually improving IT services.

Often limited to the term ???IT Support??? or ???Service Desk???, ITSM goes beyond day-to-day incident management and service request fulfillment.

Implementing an IT Service Management System can formalize all practices by establishing roles and responsibilities, policies, and procedures.

This results in more structured planning, designing, and delivering. Moreover, it saves costs by adding predictability and delivers actionable insights to improve decision making.

Roles of IT Governance and IT Service Management

To help you better understand these roles, here???s a look at an organization???s hierarchy.

IT Governance or the Governing Body sits at the top of the hierarchy. Its major deliverable is Value Delivery to stakeholders. Further, it sets direction for the Management to establish management and operational objectives.
IT Service Management takes direction from the top, establishes service management objectives, and manages services through practices shown in the above diagram.

IT Governance vs. IT Service Management

In addition to the illustration above, the following table will make it easier for you to understand the differences between the two.

IT Governance	IT Service Management
Sits at the top of the hierarchy	Works under the Governing Body
Sets direction by reviewing and approving a policy and operational framework	Understands direction, instructs, and aligns its services and outcomes with the approved policy and operational framework
Delegates authority and responsibility by establishing formal structures and ensures that roles and responsibilities are defined and allocated	Assumes authority and approved service management responsibilities
Establishes enterprise goals in line with business vision and strategy	Establishes IT service management goals in alignment with enterprise goals
Ensures benefits realization through approved services portfolio, program, and projects	Aligns, plans, organizes and delivers benefits to consumers and other stakeholders through efficient service delivery management
Ensures risk optimization by approving acceptable risk thresholds and enterprise risk management framework, as well as by accepting residual risks	Identifies and manages services related risks according to enterprise risk appetite
Ensures resource optimization by ensuring that required resources and capabilities are available on time and being utilized	Identifies, aligns, plans, and organizes required people, process, technology, and vendor resources
Monitors performance	Builds acquire and implement products and services by using the above resources
	Establishes service level targets at the functional level and with consumers through OLAs and SLAs respectively
	Designs and offers services; monitors performance, resolves problems and issues and fulfills requests
	Monitors, assesses, and evaluates the performance of services; takes corrective actions, and reports to the governing body
Is accountable to stakeholders	Is accountable to the governing body
Governance system can be tailored according to enterprise needs	Services are designed and delivered as per consumers??? expectations
Its relevant best practice framework is COBIT 2019	Direction can be obtained from COBIT 2019, while a tailored service management system can be designed by referring to ITIL 4 and ISO 20000.
IT strategy committee or IT board committee, possibly overseen by a member of the board of directors, is accountable for IT governance The CIO or IT Head is usually part of this committee but does not head it	CIO is usually accountable for IT service management Various IT teams under the CIO are responsible for coordinating and delivering IT services to their users.

Use of COBIT for IT Governance and ITIL for Service Management

COBIT??2019 is the framework generally used for IT governance despite also covering IT management aspects to a certain extent. COBIT is designed to aid management by allowing them to comprehend risks and benefits management, and their link to information and technology.

COBIT creates a connection between the business objectives of an enterprise, the IT involved, and IT management tasks via statements regarding control objectives.

On the other hand, ITIL??4 is an IT service management framework that introduces a service management working model in the name of the Service Value System (SVS). The SVS includes principles, governance, service value chain, practices and continual improvement components.

ITIL also covers 34 practices that aim to empower organizations to effectively plan, design, transit, operate, and continually improve the value of its services system.

Further, ITIL 4 focuses on utility and warranty to deliver value to its consumers.

Need to Discuss Your Organization???s IT Governance and/or ITSM Needs?

Business Beam has over a decade of experience in IT governance and IT service management consultancy. From identifying your requirements for implementing solutions, our consultants have helped local and global organizations achieve their goals effectively.

The post Difference between IT Governance and IT Service Management appeared first on Business Beam.

Effective Project Management through PRINCE2

admin — Sat, 01 Dec 2018 12:44:01 +0000

Effective Project Management is all about achieving goals and objectives successfully by careful planning and efficient management of resources. It isn???t just about sitting behind a desk only but involves systematic planning, negotiating, analyzing and if necessary intervening in the process.

Being a project manager is not so easy, with loads of responsibilities on shoulders, endless meetings, constant supervision of workflow it is difficult to keep track of heaps of files, schedules and stats at a moment???s notice. However, a well-structured project management method can help project managers in effectively delivering results.

PRINCE2??(Projects IN Controlled Environments) is the well described and proven method for project management. It provides a structured project management approach with defined processes, roles and responsibilities.

PRINCE2??has seven principles, which are the core building blocks of the method. These as follows:

Continued business justification, which means ensuring that the reason for starting the project remains consistent throughout the duration.
Learn from experience, which means ensuring continual learning from previous experiences.
Defined roles and responsibilities, which means ensuring a clear organizational structure and right expertise for the task at hand.
Manage by stages, which means ensuring that each project stage is managed effectively.
Management by exception, which means defining tolerances for each project aspect.
Focus on product, which means maintaining focus on definition, delivery and quality of the output.
Tailor to suit the project, which means that project management method must be tailored according to the environment, size, complexity, importance, capability and risks.

PRINCE2??also has seven themes. All themes are valid for the entire project lifecycle. Themes are as follows:

Business Case: the project must have a valid business justification for its existence.
Organization: roles and responsibilities of project manager and other important stakeholders are clearly defined.
Quality:??PRINCE2??requirements of the project and product quality is defined.
Plans: various levels of plans, their content and usage are defined here.
Risks: guidelines for effective risk management is defined here.
Change: types of changes along with processes are defined here.
Progress: reporting to various stakeholders and progress evaluation are defined here.

PRINCE2??also provides seven processes through which themes are implemented and projects are managed successfully. These are as follows:

Starting up a project
Directing the project
Initiating a project
Controlling a stage
Managing product delivery
Managing stage boundary
Closing a project

Initially developed as a UK government standard for project management, PRINCE2 has now become the leading method for project management across the world. PRINCE2 provides better control over resources and allows management of project risk more effectively.

Business Beam provides PRINCE2 implementation consultancy, internationally accredited training courses and certification examinations. Business Beam is an Accredited Training Organization for PRINCE2 and AXELOS Certified Partner. AXELOS is the global owner of PRINCE2 method.

Organizations as well as professionals can benefit from PRINCE2. Please contact Business Beam consultants for further details for implementation consultancy, training and certification examinations.

The post Effective Project Management through PRINCE2 appeared first on Business Beam.

Benefits for Becoming a CGEIT

admin — Sat, 01 Dec 2018 12:43:40 +0000

Management and boards have long realized the need for corporate governance. Information technology becomes important for the achievement of Organizational goals and delivery of benefits, there has been an increasing understanding that governance must be extended to IT as well. IT governance has gradually become an integral part of enterprise governance and consists of leadership, organizational structures and processes ensuring sustenance of IT in the organization and its extension to organization strategies and objectives. The Certified in the Governance of Enterprise IT (CGEIT) program recognizes those who have the necessary level of professional knowledge, business experience and personal skills to maximize contribution by IT to an enterprise???s success meanwhile mitigating risks posed by IT.

Developed by the ISACA, the CGEIT qualification has been designed for experienced IT governance professionals who can demonstrate 5 or more years of experience in management or advisory role focused on governance and IT control in an enterprise. The biggest benefit of becoming a CGEIT is the international recognition of this program and also that it is consistently listed as one of the most sought-after and well-paying IT certifications. CGEIT is divided into six job practice areas namely:

IT governance framework
Value Delivery
Strategic Alignment
Risk Management
Resource management
Performance measurement

The benefits of this program are numerous but precisely the certification helps

Support growing business demands related to IT governance
Increase awareness of IT governance and good practices
Define responsibilities of professionals performing IT governance work
Increase earning potential along with career development
Enhance credibility, influence and recognition
Increase efficiency of organization???s IT and business systems meanwhile providing better value.
Demonstrate knowledge and practical experience in field of enterprise and IT governance

Business Beam has just the right expertise and resources to equip you with the benefits of this qualification that can boost your career in no time. Our CGEIT exam preparation course is designed to ensure that you pass the challenging CGEIT exam in first attempt only. This course has been designed to maximize time effectiveness and is considerably much better than self-study that requires more time and commitment.

This course is a must attend for IT managers and directors wishing to improve career in IT governance and IT consultants looking forward to join the IT governance advisory board in larger organizations. So if you are looking forward to giving an edge to your career with this IT governance course contact us and get more details of this brilliant opportunity.

The post Benefits for Becoming a CGEIT appeared first on Business Beam.

How the ISO 27001 standard can help combat the Ransomware

admin — Sat, 01 Dec 2018 12:41:54 +0000

Think of opening a word document or a PDF; Oops! you see a pop up of data encryption right on your screen! It is enough to give you a heart stroke if you have data worth a million US dollars right on the device that was infected with the malware called Ransomware. This nasty malicious software threatens to publish the confined data or perpetually block access to it until a ransom is paid. When a computer is infected, the ransomware contacts a central server for the information it requires for activation and later begins encrypting files on the infected computer with that information. Now once it is done encrypting all the files, it posts a message and asks for a payment to decrypt the files and threatens to destroy the data if the ransom is not paid.

Just as one can reduce the chances of a certain ailment with the right care, risks of infecting data with such malicious softwares can also be reduced using certain measures. The protection against this malware involves building a set of security layers. Companies shall not only focus on technology but also on people and process like solutions. Implementation of ISO 27001 can help fight these viral threats and save an organization from such disasters. As for the following security layers, implementation of ISO 27001 provides a comprehensive set of controls that covers all of these aspects.Some of the ISO 27001 Annex A controls which can help in minimizing the occurrence of such ransomware incidents include:

A.6.1.1 Information security roles and responsibilities
All information security responsibilities shall be defined and allocated to ensure that required actions can be immediately taken when such incidents hit organization’s network or to prevent such incidents from happening.

A.6.1.4 Contact with special interest groups??
Appropriate contacts with special interest groups or other specialist security forums and professional associations shall be maintained to remain abreast with emerging threats & vulnerabilities particularly related to tools and technologies.

A.7.2.2 Information security awareness, education and training
Probably the most important control of all ensuring that all employees of the organization and, where relevant, contractors shall receive appropriate awareness education and training against such threats and to restrict them from becoming a victim even a ransomware hits the network.

A.8.1.3 Acceptable use of assets??
Rules for the acceptable use of information and of assets like internet, email, information processing facilities shall be defined so that staff uses such services “safely”.

A.9.1.1 Access control policy
Only authorized Users shall be allowed to access a company’s network and its services under formal monitoring & authorization mechanism.

A.12.2.1 Controls against malware??
Detection, prevention and recovery controls to protect against malware shall be implemented, combined with appropriate user awareness.

A.12.3.1 Information backup
Backup copies of information, software and system images shall be taken and tested regularly in accordance with an agreed backup policy to ensure that even if the data is lost, the backup must be available with the Users.

A.12.6.1 (Management of technical vulnerabilities)
This area exemplifies the importance of being aware of exploits and vulnerabilities of the organizations??? operating system. This is crucial as being attentive to these vulnerabilities can direct attention towards finding best practices on how to protect and secure those flaws.

Implementing ISO27001 means that your information system is classified and organized in a way that makes it difficult for attacker to infect the organization. While implementing ISO27001, the part of implementation having highest efficacy of detecting and preventing malware is??risk assessment. During the risk assessment process, organizations are able to identify vulnerabilities including ransomware that can harm their operating system. If the procedure of identifying malware is correctly performed, the process of their prevention becomes easier and efficient.

Hence organizations that implement ISO 27001 seek to protect the integrity and confidentiality of their key information. The ISO 27001 certification is so efficient because it not only focuses on IT controls but also on training of personnel to handle situations where they face suspicious threat attacks. Business Beam offers a range of services in Information Security Management System and provides end to end??implementation of ISO 27001??standard Consultancy. Contact us now if you wish to add layers of security to your organization with ISO 27001.

The post How the ISO 27001 standard can help combat the Ransomware appeared first on Business Beam.

If You Run IT Services You Need to Implement ISO 20000

admin — Sat, 01 Dec 2018 12:41:39 +0000

In contemporary times, Organizations exhibit large dependency on IT services. From reaching out to more potential customers to streamlining operations, the benefits of informational technology are vast and indefinite. Take for example Information Technology Infrastructure Library (ITIL), the standard framework that has become an established entity within the IT service management field; if a company has improved processes causing it the most pain using ITIL best practices, it may realize sooner or later that the focus keeps shifting to things not considered important earlier. The ISO 20000 standard was conceived to fill certain gaps and is modeled upon the principles of ITIL and offers IT organizations the possibility to become certified.

Business Beam has more than a decade experience of serving its clients in the IT industry and has helped them make right choices for their success. It recommends implementation of ISO 20000 standard so that IT organizations can achieve evidence-based benchmarks to constantly improve their IT services. The global standard was developed to mirror the set of best practices described within the IT infrastructure library (ITIL) framework and provides a strict set of requirements for implementation. The scope can prove to be quiet demanding for majority of growing IT service companies in the start but as a firm matures, the advantages of a service management system become more obvious. These advantages identify the tips and techniques to increase competency of IT service management organization as opposed to what could or should be done.

The benefits of implementing ISO 20000 are unlimited. Six major ones are listed below:

It allows an integrated Service management system (SMS) that supports the vital and core service management functions.
It allows better alignment of IT services and the business it supports. Also winning the trust and confidence of customers becomes easier by adopting common language and knowledge.
It enables the organization to focus on all key processes. For example, proper measurements and control of integrated SMS show new perspective about organization???s service management business. Also it helps identifying most valuable customers by implementing results obtained from Budgeting, accounting capacity management processes.
It enhances reputation of company in the market. An IT company with ISO 20000 certification is still not so common. Hence the certification proves your seriousness in business.
It removes bottlenecks and ambiguities in service management domain by defining strict roles, responsibilities and ownership of all processes.
It enhances vertical communication in the organization and the regular feedback improves the quality of both tactical and strategic decisions.

ISO 20000 certification stays with the company and not any individual and is an intellectual property that helps keep knowledge about service management business within the company only. Undoubtedly these benefits are aligned with an IT management perspective but in the end if you need to run IT services, a strong management system is what matters the most.

The implementation and eventually the certification process for ISO 20000 is not an easy one. However with proper consultation form the experts at Business Beam it becomes a possibility opening doors for organizational success. When examining the differences between mainframe systems management services and ITSM, it becomes evident that when ITSM is applied in today???s IT environment and throughout the organization, the benefits of its best practices are exemplified. Moreover ITSM is applicable to both distributed and centralized environments and provides for integrated services that are process based with a focus on satisfied business requirements. Contact Business Beam for more details and you will be surprised to know how much your business needs this initiative!

The post If You Run IT Services You Need to Implement ISO 20000 appeared first on Business Beam.

Ensure an effective plan of Business Continuity Management

admin — Sat, 01 Dec 2018 12:41:26 +0000

In simple words, business continuity can be termed as the act of taking responsibility for your business and preparing it for all the difficult situations in future. It is also about ???keeping calm and carrying on???. Business continuity planning has also become an essential part of running any modern organization that takes its business and clients both seriously. Especially with so many business disasters looming that can befall an organization any minute, it will be quiet unwise not to prepare beforehand for all such catastrophes. Business Beam with its team of professionals has invested years in devising solutions that ensure an effective plan for proper business continuity management.

Business continuity is about building and improving resilience in business, it is about identifying the services and key products and most urgent activities that underpin them and after the completion of analysis it is about devising plans and strategies that ensure continuation of business operations. A business continuity management system can be designed and implemented with the help of ISO 22301 standard. ISO22301 is a set of interrelated elements that organizations use to establish, implement, monitor, operate, review, improve and maintain their business continuity capabilities. It is just not a standard but includes people, policies, plans, procedures, processes, structures and resources. So whether you are new to ISO22301 business continuity, or wish to take your expertise further, Business Beam has the right ISO 22301 Consultancy, Trainings and resources for your firm.A firm can ensure an effective plan for Business Continuity Management with the right Training and Consultancy. There is a multiplicity of benefits in planning for Business Continuity within your organizational setup. It not only protects your data, hardware and software but the people safeguarding your organization will be better protected should a disaster occur. With such advanced planning, employees will be informed and prepared beforehand as to what actions are needed to start the recovery process. If preparations are not made in advance, any unexpected situation can cause disruption and these disabling events can come in all shapes and varieties. They can vary from the very common calamities like building fires, hard drive corruption to severe and long lasting disruptions (city-wide or national basis) like transport issues, infrastructure weakening, terrorist attacks or critical loss of staff due to epidemic illness etc.

Smaller companies shall not take it easy as the impact of above-mentioned disasters can hit them much harder. For instance, unexpected non-availability of core workers alone can be quite a stressful situation. Also, if only one person is trained or specialized in a particular task or management of a project, his unexpected absence can severely affect the productivity. Hence putting business continuity plans into practice within your organization prepares your business for future vulnerabilities and also helps reduce or remove the effect such disasters could have on an organization. In addition to the above-mentioned benefits, there are other advantages of business continuity planning that cannot be ignored. For example with an effective and practiced Business Continuity plan, insurance companies will view you more favorably should any disaster ever require you to call upon their services. In creating a business continuity plan, the process of evaluating weaknesses and solutions to deal with them allows management to gain an understanding of the minutia and identifies ways to strengthen shortcomings.

Business Beam with its years of consulting offers business continuity planning that will make your organization robust and strengthen it against large and small-scale problems. The detailed planning with incorporation of ISO 22301 training will maintain your image, brand and reputation and you will be known as a reliable company that is good for long-term business relation. So why not take the deal and get the risk meter down, think long-term and it will make much more sense!

The post Ensure an effective plan of Business Continuity Management appeared first on Business Beam.

Keep ahead of rapidly changing regulations through COBIT

admin — Sat, 01 Dec 2018 12:40:28 +0000

COBIT is a framework for IT governance and management created by ISACA. It is precisely a supportive tool for managers, which eliminates the gap between business risks, control requirements and technical issues.

COBIT is an information governance model that guarantees integrity of the information system. It is internationally used by the leading information based organizations and serves as a consulting guideline that can be applied to any organization irrespective of the industry it belongs to. COBIT is a model ensuring quality, control and reliability of information systems in organizations which is actually quiet essential for keeping ahead of rapidly changing regulations in modern business regimes.

COBIT 5 is based on following five principles:

Meeting the needs of stakeholders
Ensuring a holistic approach
Covering the enterprise end to end
Applying single integrated framework
Separating governance from the management

The COBIT framework involves bridging business goals with IT infrastructure by providing various maturity models and metrics. The process-based model is subdivided into following five domains:

Evaluate, director and monitor (EDM)
Align, plan and organize (APO)
Build, acquire and implement (BAI)
Deliver, service and support (DSS)
Monitor, evaluate and assess. (MEA)

Business Beam recognizes the challenges of modern businesses and helps organizations meet performance and conformance requirements. We are a consulting company working with different firms to meet its governance, risk and compliance (GRC) requirements. Through COBIT 5 framework, the organization can also have overall visibility on the performance. Organizations have several unique priorities that need to be addressed, however few critical issues common to most organizations are:

Meeting regulatory requirement
Optiming IT related risks
Optimizing IT resource utilization
Ensuring higher value from the investments in IT.

Business Beam, with its years of experience has devised effective consultancy and training services using COBIT 5 that brings all individual functions within IT into a common and integrated model. We also understand that one of the keys to successful implementation is choosing the right processes rather than blindly following the framework and later implementing it.

It is very critical to divide the improvement project into small phases as this helps the organization reap the benefits for long period of time.

Organizations that choose to utilize COBIT 5 can expect three key benefits: The first includes a direct impact on business performance, both operational and strategic. The second is minimization of risk, as Best practices and reliable processes help mitigate risks of investment, expenses, breached security, loss of service, inadequate infrastructure and unreliable data integrity. Lastly a regulatory environment is the biggest perk of implementing this framework. With the role of regulations increasing with growing influence of technology, COBIT 5 is just the right pick for your organization. Hence if you wish to keep ahead of rapidly changing regulations, Business Beam is right here for all the organizations interested in adapting and tailoring the guidance of COBIT 5 to their specific needs!

The post Keep ahead of rapidly changing regulations through COBIT appeared first on Business Beam.

PMP vs PRINCE2: How to select the right qualification

admin — Sat, 01 Dec 2018 12:39:59 +0000

Project management has quickly become one of the core business competencies due to the benefits it offers. In addition to guiding organizations to choose projects which contribute the most to business strategy, it ensures faster, cheaper, and less risky execution that delivers business benefits.

To achieve these benefits, organizations need to have the right project managers on board.

In addition to expertise and knowledge, certifications are factored in the selection process. This is because certified project managers are perceived to have a better grasp of project management discipline and can successfully deliver projects.

Of the many project management certifications available, two stand out: PRINCE2?? and PMP??. Both are leading and internationally recognized qualifications. However, choosing between them can be confusing.

The following lines will introduce you to both certifications as well as detail their differences to help you make the right decision.

A Quick Look at PMP Certification

The Project Management Professional (PMP) certification is a popular project management certification. In fact, its provider, the Project Management Institute (PMI), states it is held and maintained by over a million project managers in 200 countries.

There are many reasons as to why you should consider becoming PMP certified. Here are some of the top benefits this credential has to offer.

Higher Earning Potential ? One of the long-term payoffs of the PMP certification is a higher earning power. Certified project managers in the U.S. for instance enjoy a 25% higher salary than non-certified counterparts.
Industry Recognition – PMP certification holders can work in any location and any industry. This is because they have knowledge and skills which allow them to complete projects on time and within a budget.
Networking Opportunities ‘ PMI arranges frequent meetings which allow PMP certification holders to meet up and earn Professional Development Units (PDUs). There are other communities available both online and offline which help in building professional networks.

What is PRINCE2?

PRojects IN Controlled Environments (PRINCE2) is a structured project management method provided by AXELOS. It comprises seven principles, themes, and processes which can be tailored according to projects regardless of type or size.

The method further ensures the success of projects by ensuring control over project resources and effectively managing business and project risks.

If you???re interested in pursuing the PRINCE2 certification, here are some of the main benefits you can reap.

Stronger Project Management Career ? PRINCE2 testifies to a project manager???s reliability. It ensures their ability to deliver to budget, quality, and time. Moreover, it increases the confidence of stakeholders in the project???s success.
Flexible Working Experience ? PRINCE2 certified professionals are experts on cross functional working. The method supports engagement with supporting teams to ensure cooperation and the delivery of mutual benefits.
More Certifications ? One of the benefits of this certification is that it???s related to other AXELOS certifications such as MoP Portfolio Management Certifications. You may also qualify for certain exemptions while preparing for other certifications.

PMP vs. PRINCE2 ? The Similarities and Differences

Both project management certifications share a few common factors:

Process Oriented – Both qualifications are process oriented. They focus on following defined set of processes to achieve better results.
Common Parameters – Both qualifications agree upon common set of project management parameters, including scope, time, budget, risks, and quality.
Complementary Concepts – Conceptually, both qualifications complement each other despite few terminologies being different.

The similarities, however, end there. The following are the main differences between the PMP certification and the PRINCE2 certification.

1) Approach to Project Management

Both certifications have a different take on project management. Here are some of the main differences in this regard.

Standard vs. Approach – PMP is a standard whereas PRINCE2 is a method. The first provides project management good practices, tools and techniques, whereas the latter has a practical approach as it provides detailed, step-by-step guidance on delivering a successful project with clear processes, steps and templates.
Descriptive vs. Prescriptive –Further, PMP is descriptive. It describes various techniques such as how to develop schedules using the Critical Path Method, or how to perform an Earned Value Analysis. On the other hand, PRINCE2 is prescriptive. It tells exactly what needs to be done. While it makes references to various techniques, it does not explain them in detail.
Role of the Project Manager – PMP deems the project manager responsible and accountable for a typical project. PRINCE2, however, holds the Project Board accountable for a project. As for the project manager, they are responsible for executing a project stage-by-stage and delivering results, as per the authority provided by the Board.
Project Success Criteria – Both qualifications consider scope, time, and cost as basic criteria for measuring project success. However, PRINCE2 adds achieving project benefits as the most important criterion. The method provides a definitive approach to develop effective business cases, and to ensure project benefits during and after the completion of projects.
Project Lifecycle – PRINCE2 follows the concept of project stages, from both technical and management perspectives. This concept has proven to be very practical and helpful in executing projects successfully. PMP does define the concept of phases, but does not detail any method for managing them.

2) Certification Demand

While both certifications have a strong reputation globally, some regions prefer one over the other. So, make the choice based on where you live and work.

Asia ? Both PMP and PRINCE2
Middle East – Both PMP and PRINCE2
Africa ? Both PMP and PRINCE2
Europe ‘ PRINCE2
UK – PRINCE2
North and South America ‘PMP
Australasia – PRINCE2

3) Salary Prospects

One of the biggest benefits of becoming a certified project management professional is the increase in renumeration. According to surveys, PMP?? ensures a 20% salary increase. In the U.S., the average PMP?? certified project manager earns $111,000 whereas a non-certified professional earns $91,000.

This number can increase based on the industry you work in. For instance, the highly regulated pharma industry pays PMP?? certified professionals $125,000 whereas the agriculture industry pays $120,000.

As for PRINCE2??, PayScale reports the average salary for certified professionals to be around $97,779. Renumeration changed based on the position you hold. For instance, a PRINCE2?? certified Senior Project Manager, IT can earn an average of $117,261 whereas an Information Technology Director can earn $130,180.

4) Certification Prerequisites and Process

To earn the PMP?? credential, you need to meet certain eligibility criteria.

If you hold a four-degree, you need to be able to prove 36 months of experience leading project.
If you have a high school diploma or an associate???s degree, you need to show proof of 60 months of experience leading projects.
Certification candidates need to complete 35 hours of PMP certification training or project management training.

If PMI approves your application, you???ll need to pay the PMP exam fee and schedule your exam time.

To be PRINCE2?? certified, you need to choose from the PRINCE2?? certification scheme or the PRINCE2 Agile?? certification scheme. While both are designed to help deliver projects successfully, PRINCE2 Agile?? goes beyond the governance of PRINCE2?? to include the flexibility and responsiveness of Agile.

The PRINCE2?? certification scheme has two levels:

PRINCE2?? Foundation ? The Foundation certification testifies to your knowledge of the PRINCE2?? method. There are no prerequisites for this certification.
PRINCE2?? Practitioner ? The PRINCE2?? Practitioner certification confirms you have a good grasp on applying and tailoring the method according to different project environments. To be eligible for the certification exam, you need to have one of the following certifications:
- PRINCE2?? Foundation
- Project Management Qualification (PMQ)
- Project Professional Qualification (PPQ)
- Project Management Professional (PMP)
- Certified Associate in Project Management (CAPM)
- IPMA Level A?? (Certified Projects Director)
- IPMA Level B?? (Certified Senior Project Manager)
- IPMA Level C?? (Certified Project Manager)
- IPMA Level D?? (Certified Project Management Associate)

Similarly, the PRINCE2 Agile certification scheme has two levels:

PRINCE2 Agile?? Foundation ? PRINCE2 Agile Foundation is the right credential for professionals managing agile projects.
PRINCE2 Agile?? Practitioner ‘PRINCE2 Agile Practitioner is an advanced certification which testifies to a practitioner???s ability to blend structure, governance, and control with Agile methods. To be eligible for the certification exam, you need to have one of the following certifications:
- PRINCE2?? Foundation
- PRINCE2 Agile?? Foundation
- Project Management Qualification (PMQ)
- Certified Associate in Project Management (CAPM)
- IPMA Level A?? (Certified Projects Director)
- IPMA Level B?? (Certified Senior Project Manager)
- IPMA Level C?? (Certified Project Manager)
- IPMA Level D?? (Certified Project Management Associate)

5) Certification Examination

The PMP?? certification exam comprises 200 multiple choice questions, of which 25 non-graded questions. You need to attempt the exam within four hours.

As for PRINCE2?? certification examinations, these differ based on level and scheme.

PRINCE2?? Foundation ? This certification???s examination comprises 60 multiple choice questions. You need to score at least 55% or 33 marks out of 60. You???ll have 60 minutes to attempt the exam. However, you???ll be given an additional 15 minutes if English isn???t your native language.
PRINCE2?? Practitioner ? The certification exam is a 150-minute open book exam. It comprises 68 objective questions. You need to achieve 55%, or at least 38 marks to pass.
PRINCE2 Agile?? Foundation ? PRINCE2 Agile?? Foundation exam is a closed book multiple choice exam. You need to score at least 55% or 28 marks out of 50. You???ll have 60 minutes to attempt the exam.
PRINCE2 Agile?? Practitioner ? The certification exam is an open book exam which comprises 50 objective questions. You need to achieve 60%, or at least 30 marks to pass. The duration of the exam is 150 minutes.

As for the costs of the exams, the PMP?? exam fee is $405 for PMI members and $555 for non-members. PMI membership costs $129 per year, plus a one-time $10 application fee.

On the other hand, PRINCE2?? examination fees differ based on region. You can check how much it costs in your region by visiting PeopleCert, the assessment and certification partner of AXELOS.

6) Certification Maintenance

PMI requires PMP?? professionals to maintain their certification status. To renew their certifications every three years, certified professionals need to attain 60 professional development units (PDUs). This is possible through attending courses, participating in meetings or local events, or sharing knowledge.

As for PRINCE2?? certification holders, Foundation level professionals do not need to renew their certifications. The Practitioner exam, however, is valid for five years. To maintain their certifications, professionals need to pass the PRINCE2 re-registration examination before their certificates expire.

Which Project Management Certification is Right?

You can make a decision based on the factors mentioned above. However, you can actually gain more by pursuing both certifications.

PMP?? focuses on the knowledge and skills to manage a project, whereas PRINCE2 details the processes and framework for executing specific projects in controlled environments. As both complement one another, your project management skills will definitely be highly sought after.

Keep in mind that there are two challenges you may face if you go down this route. One, both certifications use different terms. For instance, PMP uses the term ???Project Charter??? whereas PRINCE2 uses ???Project Brief???. Two, techniques, such as the categorization of risk, will be different in both.

Get Certified with the Right People Today

Whether you wish to be PMP or PRINCE2 certified, Business Beam can help. Our accredited trainers already hold these certificates and have years of industry experience to add. Therefore, they are the right people to begin your certification journey with.

Check our training schedule to book your slot for upcoming PMP or PRINCE2 training sessions/

The post PMP vs PRINCE2: How to select the right qualification appeared first on Business Beam.

Self Study Versus Attending Accredited Training Course

admin — Sat, 01 Dec 2018 12:39:05 +0000

When it comes to learning, people have different opinions and preferences. Some believe in self-study whereas others are more comfortable in attending accredited training organizations (ATO???s).Not only is the atmosphere of learning different for each but so are the outcomes. In case of ITIL, the certification program leaves an open-ended choice for candidates. But the objective of this certification can only be achieved after taking proper training from an accredited institute as these training centers are more focused on collaborative learning and allow a deeper level of development.

The article focuses on identifying the benefits of training organizations that help individuals in mastering key concepts of this certification program. People who opt for self-study should know that the approach might help in passing the exam but shall add no value to overall career development. Whereas attending proper training sessions not only increase the success rate of passing the examination but also improve confidence in career. If a candidate has learnt the right concepts and has the required skills of execution, his organizational growth becomes definite. Self-study eliminates the most valuable benefit of an organization i.e. a trainer who serves as a mentor during the span of training and also a door to solutions and guidance after completion of the certification.

Experts suggest that a classroom is indeed an ideal option for learning as it offers a face-to-face environment and is worthwhile if one can take leave from work for number of days. If an individual receives training from an accredited training organization he has the guarantee of quality and wider sphere of knowledge. Why people face difficulties in practical implementation is lack of knowledge which is a direct consequence of self-study. Rapid career growth and development are the major benefits of proper training from an accredited training institute but along with this the following three benefits cannot be ignored:

Firstly, in an accredited training organization, learning takes place at a much deeper level.
Secondly, the different levels of ITIL certification provide a strong framework for identifying, planning, delivering and supporting IT services that can be effectively used for business processes and organizational environments. The ITIL best practices are aligned to the needs of businesses and they support the fundamental business processes. This knowledge boosts and individuals??? performance levels and opens up doors for professional development.
Thirdly, these sessions guide professionals to use IT as a tool for facilitating business change, transformation and growth.

Understanding the value of an accredited training organization, United Kingdom strongly recommends that candidates attend training sessions. These institutes are hubs of professional development, where an individual learns to manage expected corporate issues smartly. Certification acquired from a proper ATO is not only a proof of passing the examination but portrays the capability of an individual to perform in any competitive environment.

The post Self Study Versus Attending Accredited Training Course appeared first on Business Beam.

5 Effective Ways To Ensure Your CompanyÔÇÖs Business Continuity

admin — Sat, 01 Dec 2018 12:38:39 +0000

With the world advancing at the speed of an avalanche, a dynamic shift appears in almost every sector. In particular, information technology and strategic management has completely transformed the businesses.

However change is inevitable but sometimes it can lead to serious losses if a firm fails to adapt to it well enough. Change management is one major factor that decides the future of an organization in contemporary times. Also this is one of the core responsibilities of the management -to ensure??business continuity??even when the firm is experiencing some unfavorable circumstances. There are many ways and strategies that can be employed to reduce the levels of risk a company is exposed to, if not completely eliminate them. This article will focus on those specific ways that will ensure that a firm ?ǣstays calm and carries on??? during external threats and severe competition.

For those who do not have a clear idea about this phenomenon can understand by this simple explanation; Business stability directly relates to a firm???s resilience. It does not only mean that you shield yourself from external disasters but also refers to the ability to quickly recover from damages and begin with operations more effectively than before. Organizations that have not devised any strategies before-hand fail to understand the complex situations and are soon driven out of the market. Analysis of the success stories of business tycoons provides some common strategies and practices that largely reduce the levels of risks a firm is exposed to and ensures a steady in all thick and thins. Let us now discuss each in detail.

1.??Measure the risks:??At times firms that are very good at risk management also fail to successfully swim through hard times just because they were unable to measure the levels of risk appropriately. There are many methods available that accurately identify the size and impact of threats that will affect a firm adversely. Take for example competitive risks; these directly put a firm???s survival in market at stake. The measurement of risk in this case would involve identifying the size of competitor, its market share and competitive strengths. In order to ensure healthy growth in business it will be essential to devise plans accordingly and execute those using strict time frames.

2.??Prioritize:??It is very important to understand the senior management???s priorities before executing recovery plans. Priorities differ in every organization, for example there are mangers who feel staff costs are most important while there are others who lay stress on productivity gains. Hence in order to make an effective use of technology that directly links to these priorities, supporting systems must be known. Recovering from damages is not easy but things that are well sorted will make management a lot easier on the whole.

3.??Recovery plans:??There are many organizations that have great plans for change management but do not have a disaster recovery plan at all! It sounds bizarre but it is true. Hence it is equally important to devise a recovery strategy. The best way is to develop a formal document that details all applications, facilities, personnel, priorities (as discussed above) and hardware. This plan shall outline all the functional areas that provide guidance on what happens before, during and after the debacle. The limitations shall be made clear before-hand only. The core purpose of lies within serving the customers efficiently, if that motive is not fulfilled the repercussions are devastating. That is what a recovery plan will largely focus on.

4.??Human resource management:??An organization is not only made up of goals, strategies and revenues but mostly it is a collection of different human brains that excel in different regimes. As part of the business continuity planning process, it will be important to identify the number of staff members and skills that will be required to perform and maintain key functions. A list of special tasks shall also be prepared earlier and be used in case of emergency. This will identify which employees are most effective and appropriate for crisis management, employee support, Security and IT backup etc.

5.??Revise, test and update regularly:??Some organizations make recovery plans and think the task is finished. Some have just struggled form a crisis and now think bad times are over forever. Some are enjoying roaring success and believe hard luck will never knock the door again. Well, this is not only the rule of business but a rule of life ? nothing stays stagnant. Hence if you made a plan 5 years back, how can you expect it to work in current times? If you just got free from a big bad crisis, how do you know that the next will not hit you soon? If you are currently holding the largest market share, how do you know your direct competitor cannot take you over? Hence the best way to deal with all these issues involves regular updating, testing and revision of the recovery plans. Staying updated will not only save a firm form unnecessary overheads but will ensure steady position even in the hardest of times.

So,??Business Continuity??is not any exceptional phenomenon, it is just another shaft of strategic management that involves playing smart and accepting the challenges a market throws at a firm. The rule is indeed simple; the one who adapts well to change wins the race!

The post 5 Effective Ways To Ensure Your CompanyÔÇÖs Business Continuity appeared first on Business Beam.