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PROJ6000 Principles Of Project Management

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PROJ6000 Principles Of Project Management

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Course Code: PROJ6000
University: Laureate International Universities

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Country: United States

Write the Principles of Project Management For Unethical Behaviour
Telstra Corporation is the largest telecommunication company in Australia
The company was  established 43years ago
The headquarter of the company is in Melbourne
In the year 2017 the revenue of the company was A$26 billion
The company is fully privatized right now Telstra also launched a unit in health business 
PMI’s Code Of Ethics 
The PMI’s code of ethics addresses several areas in the project management like the respect, responsibility, culture, fairness and honesty in the Telstra corporation. 
Best actions are taken for particular situations, fulfilling requirements, report unethical behaviour is comes under the responsibilities.
Informed about culture, stakeholder listening, conflict addressing, not acting abusively, respect others property right is comes under the respect.
Impartial act, equal access information, avoid conflict, impartial rules is comes under the fairness policy.
Honesty is not encouraging dishonesty, seek truth, speak truth, and do not engaging the dishonesty.
Aware of cultural differences, respect cultures of different people is comes under the cultural of PMI ethics.
These must be adapt by Telstra To get benefitted and grow rapidly. 
Risk Management
Risk management is a process that is done by the project management. The whole process is divided into three parts:
Identification of risk
Analysing the risk
Responding to risk
These can be applied on both known and unknown risks. The risks in the project management can be affect the company as the company might get loss in revenue. PMI says that the companies are failing to manage the risks which increases the chances of bad impact on the project and the project might get fail. 
Benefits of Applying PMBOK
Scope defined clearly
Work is done within the scope
Scope creep is avoided
Specification change can be managed
product quality improved
Quality is defined
Cost Is Reduced
Proper cost estimation 
Efficient time management
Time estimation done properly
Risks get less
Risks are analyzed
Risk mitigation plan included  
Overall benefits of Telstra 
Telstra will become more competitive.
The results of Telstra will be more measured
Customer relationship improves
Supplier relationship improves
Staff relationship improves
Telstra will gain more reputation
Risks within the company will me mitigated
Telstra will be more efficient
From the previous slides it can be concluded that the Telstra Corporation get many advantages after adopting the guide of PMBOK. There are many benefits of adapting the project management. The company can grow rapidly by adapting these methods. It increase the efficiency of the company. The companies become more competitive in the market (Heagney, 2016). The project management book of knowledge improves the relation ship with the employees, customers, suppliers and with the partner. Reputation of Telstra Corporation will be improved more than earlier. The risks can be protected as the risk management is taken place.  
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Heagney, J. (2016).
Fundamentals of project management. Amacom.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.
Ye, S. (2018). Implementation of Project Management System Based on Project Management. Information Engineering and Applied Computing, 1(1).
Svejvig, P., & Andersen, P. (2015). Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management, 33(2), 278-290.
Marchewka, J. T. (2014). Information technology project management. John Wiley & Sons. Leach, L. P. (2014).
Critical chain project management. Artech House. 

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