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PMI Unveils New Certificate on Construction to Upskill Industry Professionals in Nigeria
Project Management Institute (PMI), the world’s leading association for project professionals, has announced a series of seven courses, leading to the Construction Professional in Built Environment Projects (CPBEP) certification to widen skills building and education programs to meet the new demands on the industry. It is PMI’s first industry-specific solution tailored for construction professionals.
PMI created the certification in collaboration with construction industry leaders and consultations with project managers who face the twin challenges of balancing technology and talent. Both Lean Construction Institute and Construction Industry Institute were integral to developing the certification along with Saudi Aramco, U.S. Department of Energy, DPR Construction and BHP amongst others.
The construction industry, like many others, is seeing a rise in new technologies such as drones and artificial intelligence, mobile apps, cloud communication, and data management. Their adoption has meant a need for a separate set of skills to complete projects successfully. Add a diverse workforce, and a new skills landscape begins to emerge. Companies today need professionals with technical as well as power skills to navigate the changing workplace.
George Asamani, Business Development Lead, Africa, PMI, says, “We see improvement in technology adoption, but technology is just an enabler. It’s still people and their skills that are critical to improving project performance.”
In a recent survey where PMI interviewed more than 40,000 global Project Management Professional (PMP) certification holders in the construction industry it found that 70% construction projects experience scope creep, and 73% of such projects ended over budget. Moreover, it also found that 72% of construction projects often experienced project delays.
In another research, titled “Most critical factors responsible for cost overruns in Nigeria building construction industry”, the Federal University of Technology’s Oluyemi-Ayibiowu, B. D., Aiyewalehinmi, O. E., and Omolayo, O. J. found that cost overruns is a major problem facing the local construction industry. They opined that cost overruns led to numerous negative effects such as project delay, abandonment and poor-quality delivery.
Based on their data, six most severe factors of construction cost overrun were identified as: risk and uncertainty related factors (89.5%); lack of financial power by clients (88.5%); weak regulation and control (88.2%); project fraud and corruption (82.6%); variation of prices (81.3%) and indiscriminate change in design/works (80.1%).
It is therefore not surprising that construction, which contributes 13% to the global GDP and is the biggest, has not been performing well, having clocked only 1% annual growth over the past two decades. That’s not all; according to PMI’s Pulse of the Profession report, the sector’s wasteful expenditure sits at $127 million for every $1 billion spent on projects. This amounts to over $1.6 trillion wasted annually due to capital projects not being delivered on time or within budget.
“But this doesn’t have to be the industry’s future. With more than 50 years in the project management industry, PMI is uniquely positioned to help equip professionals with the skills needed to transform the surging industry through developing these innovative learning methods and practices,” adds Asamani.
The sector employs 7% of the world’s working population.
To be eligible for the certification, individuals need three or more years of experience as a project manager, lead or contributor in the construction / built environment. The courses can be taken in any order and present an opportunity for professionals to focus on topics they are most driven to explore. Learners can either complete individual courses and earn specific micro-credentials or complete all courses in preparation for the capstone exam.
Three of the seven courses offer micro-credentials upon completion of a post-course exam. The micro-credentials award a digital badge to show the user’s mastery of the content. Each course explores a specific area of construction project management, such as communication and risk management.
The Federal government’s plans to spend over N3,50 trillion on infrastructure and human capital development in 2022 is a clear indicator of its farsightedness. For the construction industry its work is cut out if it wants to participate meaningfully in these projects – firstly accelerate its rate of technology adoption and secondly focus on upskilling employees, particularly project managers responsible for scoping, scheduling, and budgeting.
“Construction is a demanding industry subject to the vagaries of weather, supply chain disruptions, and a host of other often uncontrollable variables. It requires a well-versed project manager to bring the work in on time and within budget,” says Asamani in conclusion.
Three radio stations lost their electronic broadcasting equipment worth millions on Saturday night in Aba, Abia state, when they were gutted by fire.
The affected radio stations were Enyimba 94.3 FM, Rose 101.9 FM and Legend 98.3 FM which were all located in the same building located o on the PZ axis of Aba-Owerri Road.
But for the intervention of the officials of the Abia State Fire Service, the fire may have spread to other buildings within the vicinity.
No life was lost in the raging inferno.
According to The Nation, a personnel of the Abia State Fire Service, who pleaded anonymity, called on owners of big factories and companies to procure fire extinguishers and hydrants to help assist manage and attack fire during such incident.
Dr. Ngozi Fidelia Anyaegbunam, veteran journalist and author, has passed on. She was aged 67.
Ngozi Anyaegbunam
A statement by Rocky C. Agbese, the deceased’s family signed by her son, said she died after a brief illness.
“With gratitude to God for a life well spent, we announce the untimely death of Dr Ngozi Fidelia Anyaegbunam after a brief illness,” Agbese said.
He described the deceased as a trailblazing journalist who had editorial stints with Champion Newspaper at its pioneer female editor and later with the Daily Times where she authored the book titled, ‘Waziri Ibrahim: Politics Without Bitterness’.
“Subsequent to these, she became a full-time media management consultant to numerous blue chip companies,” the statement said.
She held the distinction of being a female print media journalist to interview two sitting Nigerian Presidents – Chief Olusegun Obasanjo and Muhammadu Buhari.
The statement further described her as a dedicated and loving mother, grandmother, sister, cousin and friend, noting that, “Auntie Ngozi will be sorely missed by all who came across her and were impacted by her larger than life presence. Rest in Peace till we meet to part no more.”
The statement added that funeral arrangements will be announced by the family.
No matter the size of the business/company you run (whether an SME, a startup, or a multinational company), keeping your cash flow running is one of the most critical things you can do.
Unfortunately, sometimes that’s easier said than done!
Statistics show that 80% of MSME businesses in Africa fail within their first five years of operation due to cash flow issues. So, how can you save time and avoid late fees to keep your business running smoothly? The answer is recurring payments.
Avoid Late Payments With Recurring Payments
Late payments from customers can create cash flow issues and negatively impact your business operations. By implementing recurring payment options for customers, your business can proactively address this challenge and ensure timely and consistent revenue streams.
The benefits are enormous.
Recurring payments enable you to automate billing processes and collect payments on a predetermined schedule, minimising the risk of late or missed payments. It also provides a predictable cash flow.
How Recurring Payments Prevent Costly Delays
Creating invoices and processing payments manually is an inefficient way to run your business. Apart from consuming most of your time, there’s also the risk of costly errors which can negatively affect your business and customer relationships.
As such, utilising an automated process which efficiently saves time, reduces the risk of human errors and increases the efficiency of your payment process should be your obvious preference.
Enhancing Customer Relationships
A crucial benefit of recurring payments is that it also helps to strengthen customer relationships and loyalty. This payment method reduces friction points and reduces the payment burden on customers, so payment is streamlined and seamless. By offering a convenient and flexible payment option, such as recurring payments, you enhance your customer’s overall payment experience and reaffirm your commitment to their satisfaction and convenience. This ultimately helps to foster goodwill, loyalty, and trust with your customers.
Tips for Maximising the Benefits of Recurring Payments
To optimise the impact of recurring payments, here are a few strategies that you should implement.
- Offer tiered pricing
A tiered pricing strategy means you’re providing your customers with different product packages with specific benefits at different price points. This is an effective way to cater to the preferences and budgets of your different customers. This allows them to choose a pricing tier within their budget and a payment plan that’s convenient for them. You can also leverage customer data and analytics to personalise payment options and tailor offerings to individual preferences.
- Introduce proactive management
Taking proactive measures, such as updating customers about the expiry date on their credit card and other potential issues will effectively help avoid errors that can lead to late payment and disturb your cash flow. Proactive actions take away potential issues before they pop up, ensuring that the payment process remains unhindered. Also, ensuring your customer support is proactive in dealing with concerns or questions that customers may have helps to further improve the customer’s trust and confidence.
- Streamline the payment process
Streamline your payment process and make it seamless for customers. Ensure there are minimal steps in the checkout process and that the experience is as seamless as possible.
Conclusion
Forecast revenue and plan your expenditures easily by establishing regular payment cycles with SeerBit’s recurring payments solution.
The best part?
You significantly enhance your financial stability and business resilience.
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