20/05/2026
Day 3 of 5:
Project Management Professional (PMI-PMP) masterclass with staff of Nigerian Breweries Plc
Today, we covered essential topics in project management, diving deep into quality control, procurement, risk management, and more. Here’s a recap:
1. Quality Management
-Planning and managing product quality and deliverables
-Key Concepts: Quality vs. Grade, Cost of Quality, Accuracy vs. Precision, Quality Assurance vs. Quality Control
2. Project Integration
-Aligning and integrating project planning activities to maintain cohesion across all project stages
3. Procurement Management
-Planning and managing procurement processes
-Key Concepts: RFI vs. RFQ vs. RFP, PR vs. PO, Contract Types
4. Project Governance
-Establishing a robust governance structure to support decision-making and accountability
5. Project Closure
-Ensuring successful closure by adhering to established procedures and documenting lessons learned
6. Risk Management
-Assessing and managing both positive and negative project risks
-Key Concepts: Risk Exposure, Tolerance, Appetite, Threshold, Capacity
-Types of Risks: Known-Unknowns (KU), Unknown-Unknowns (UU), Known-Knowns (KK), and Unknown-Knowns (UK)
-Risk Response Strategies: Avoid, Transfer, Mitigate, Accept, Exploit, Enhance, and Share
Each of these areas is crucial for guiding projects to successful completion and delivering exceptional value to stakeholders.
