Your path to business agility
Before looking at product portfolio management software and highlighting some key best practices, it is helpful to take a step back and look at the concept of product portfolio management, highlight some examples, and look at the differences between project management, program management, and portfolio management. What is Product Portfolio Management? Product portfolio management is...
How vital is a comprehensive, flexible and functional time management planner? Consider this: for project managers, the most precious resource they have is typically not budget – it is time. And unfortunately for many of them, time is not on their side. For example, Harvard Business Review analyzed nearly 1,500 IT projects, and found that...
Project resource management refers to a set of integrated processes that enable project managers (possibly in conjunction with the PMO and other decision-makers) to determine, obtain, allocate, develop, and monitor the resources that are required to successfully complete a project. According to the Project Management Institute’s Project Management Body of Knowledge (Sixth edition), there are...
When The Queen’s Gambit debuted on Netflix in October 2020, it was an instant sensation that single-handedly revived interest in a game as old as time. The titular gambit (a calculated move, according to Merriam-Webster) is a cunning chess opening characterized by its attacking prowess, where the player sacrifices a pawn to gain control of...
New product development (NPD) is not just important for organizational success – it is essential for long-term organizational survival. Some of the key factors that drive NPD include: Changing consumer tastes and behaviors Increased competition Technological advancements New opportunities for growth and development Diversifying risk Exploiting excess capacity In addition, NDP can help organizations foster...
The pace of change is rapidly accelerating and impacting every aspect of work. Enterprises are facing unprecedented pressure to rapidly pivot and meet ever changing customer demands – because if they fail to consistently enable customer success, then sooner or later a competitor will. As a result, enterprises need to re-imagine and re-invent work management...
There are dozens of project management terms you might come across and many are abbreviated to make things quicker. Here are some of the most common terms every project management professional (PMP) should know. AC – Actual Cost. At the outset of a project, costs are estimated. The AC is tallied at the project’s completion...
As a professional in any industry, the only way to grow is by continuously learning. While taking a class or seminar can be an excellent way to improve your skills and range of knowledge, there’s an even easier way to grow immensely that also easily fits in with your busy project management schedule. That method,...
Constraints in project management are the limits that you must work within to achieve your goals and are, unfortunately, unavoidable. For project managers, being aware of what limitations and barriers they face is essential for navigating an effective project path and ultimately reaching success. That’s why identifying project constraints is such an important task to...
When managing a project, no matter how big or small, one of the most essential parts of the planning process is the identification of the relevant project management stakeholders and the listing of all individuals and groups involved at each step in the life cycle of a project. Defining project management stakeholders When it comes...
