Your path to business agility
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...
Agile Program management is an approach through which multiple projects are managed simultaneously, in an effort to help organizations achieve strategic priorities. These aims could include increasing revenues, improving customer satisfaction, reducing customer churn, accelerating the speed of product development, enhancing brand awareness, improving employee engagement, and the list goes on. However, there are scenarios...
Among the most important – and indeed, also the most challenging – aspects of project and program management is developing, executing and optimizing a resource management plan. What is a Resource Management Plan? A resource management plan is typically composed of multiple documents, and addresses the following core objectives: Centralizing and streamlining demand intake. Optimizing...
When a good idea surfaces within an industry, it’s only a matter of time before people outside the industry take notice and start looking for ways to apply the idea in their own work. The concept of project management itself is a perfect example—while it was once confined to a few fields such as engineering...
On the business landscape, perhaps no other concept has undergone as much change and evolution in recent years as project management. Indeed, with so many organizations – from small firms to large enterprises – running multiple projects these days, the question “what is project management?” might be better phrased as “what isn’t project management?” Still,...
If you are frustrated with trying to clearly understand the differences between project management vs. program management, then be assured you are not alone. There are a couple of reasons for this ongoing confusion. The first is that many professionals work on both projects and programs – if not necessarily simultaneously, then concurrently (e.g. after...
As a project manager, it’s impossible to underestimate the importance of cost estimation when it comes to successfully completing a project. Before even approaching a project, it’s important to get a handle on cost estimation to help keep you on task and in touch with project constraints and limitations. Why Cost Estimation in Project Management...
