Project Management

- Earned Value - Project Selection - PERT - Classes of Estimates - SIGMA - Communications - Procurement - Depreciation - Network Diagram - Important Values ...Read More

A work breakdown structure (WBS) is a visual, hierarchical and deliverable-oriented deconstruction of a project. It is a helpful diagram for project managers because it allows them to break down their project scope and visualize all the tasks required to complete their projects. All the steps of project work are outlined in the work breakdown structure chart, which makes it an essential project planning tool. Project managers use a WBS for many purposes, such as finding the critical path or creating a Gantt chart. ...Read More

Top project management templates in Microsoft Excel that you can easily download and use for free to help you track project status, communicate progress among team members and stakeholders, and manage issues as they arise. ...Read More

Projects are big challenges. A high expenditure of planning and resources can quickly lead to difficulties and failure all along the line. A one-time goal should be achieved within the given time with available human and financial resources. To do this, each individual measure must be optimally coordinated. "PM as the application of knowledge, skills, methods and techniques to the processes of a project ...Read More

Every project, regardless of its subject matter, starts with an idea and ends (if successful) with a functioning reality of the idea's intent. Projects that fail are sometimes considered losses, but, most often, they also offer excellent lessons on how to avoid repeating the failures in the future. The Sydney, Australia Opera House is a notable example. ...Read More

To figure out how to create a successful project, you need to be somewhat of a jack of all trades. This is because there are many factors to consider, and just as many challenges to overcome. With this in mind, let’s look at what successful project management looks like, and the steps you need to take to get there. ...Read More

The Project Management Institute’s 2020 Pulse of the Profession report reveals that 11.4 percent of business investment is wasted due to poor project performance. Today’s organizations must uncover the cause of these failures and determine what project management professionals can do to help overcome these challenges. “For decades, we’ve been trying to improve the rate of project success,” says Northeastern University assistant teaching professor Jacques Alexis. “Poor planning has been one of the consistent causes of failure. Often this means the project management team did not engage stakeholders in the planning and therefore didn’t understand the scope of the project. If you don’t understand the scope of the project, then the schedule and the budget will be unrealistic. There is ample evidence that planning is a critical success factor in project management.” Alexis is a scholar-practitioner with a unique combination of expertise in business economics, general management, portfolio, project, and operations management. He has nearly two decades of experience managing major programs and projects within the manufacturing and power generation industries. Based on his experien ...Read More

Project management is an increasingly important business function, essential to organizations looking to increase the efficiency and timeliness of their work. The official responsibilities of project managers typically include initiating, planning, executing, monitoring, and closing projects. They also oversee several key tasks in pursuit of successful project completion, including assembling a project team, monitoring project budget, setting timelines, overseeing deliverables, and communicating with stakeholders. It’s not only project managers that are tasked these types of responsibilities, however. Even without the title of ‘project manager’, many professionals can still benefit from learning the skills and techniques project managers utilize every day. Read on to explore tailored tips to help you improve your project management skills, even if you aren’t a project manager. ...Read More

Quality management systems are commonly — and wrongly — viewed as a “necessary evil”. That is, your company’s top management feels a ISO QMS project won’t have an immediate and positive effect on the bottom line, but they’re going ahead with the project because “they’re making us do it!” This, along with many other Quality mistakes, are the reasons why such projects fail. When was the last time you had to manage a “critical” project without the support of top management in word and deed? If it’s happened once, it’s happened too often. Yet, this happens all the time with quality management systems (QMS). A customer may require its vendors (and maybe you’re one of them) to have an ISO 9001 certified QMS in place. Or, maybe you deal in a product or service that’s highly regulated, so you’re implementing a QMS only “because it’s the law.” Here are some more common Quality mistakes. ...Read More

The Monte Carlo simulation is an important technique in risk management that many PMP and PMI-RMP exam study books do not describe in detail. Most of the guides say it is a complex technique that requires a computer’s assistance, and so aspirants don’t dig further. This assumption is not true; it is a straightforward technique. ...Read More