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A defining skill set of any effective project manager is their ability to assess and mitigate risk. Spotting bumps in the road, predicting outcomes and preventing failures are all part of the responsibility of managing a project successfully. Risk assessment can be an art form, and there’s a variety of ways to get the job...
As a system of goal-setting and progress measurement, Objectives and Key Results (OKR) has shown significant results for organizations which have adopted it. Initially created by Intel it has become widespread, especially in technology firms such as Google. One of the most interesting features of the Objectives and Key Results (OKR) method is that it...
A Business Impact Analysis (BIA) is a process which is carried out to assess how an interruption or sudden stoppage of the critical operations of a business, due to an unforeseen accident, emergency or disaster would have an impact on that business. It is necessary, when creating an organization’s business continuance plan, to know what...
Looking for a way to give your career a boost in the new year? One of the most effective ways to increase your earning power and long-term growth potential is to earn professional certifications in your chosen field. Not only do certification programs give you a stamp of approval that makes you a more appealing...
The Delphi Method (named after the famed Oracle of Delphi in Ancient Greece) was first developed by the RAND Corporation after WW2. They had found that traditional methods for trying to predict technological change and future requirements in the military were not proving as successful as they might have hoped. A new method was developed,...
Healthcare is a vast and complicated industry which requires project managers to adapt to a whole range of new skills and requirements due to its intricacies. A report by Georgetown University and the National Institutes of Health came to the conclusion that by 2020 there would be 5.6 million new healthcare jobs. This is fueled...
Most business owners are intimately familiar with the concept of risk management. If you’ve ever formulated a business plan, you must consider the potential risks involved with launching an enterprise so that you can prepare, plan a response and convince lenders and investors to get your venture off the ground or help you to grow...
What is Control Management? The concept of control management stems from French mining executive Henri Fayol’s five functions of management (Planning, Organizing, Commanding, Coordinating and Controlling). In this sense, Controlling relates to ensuring that all the processes being undertaken – and their results – are in line with previously established standards. As Fayol himself said:...
What is the Project Management Triangle? The project management triangle defines the basic constraints that a project operates within, namely: Cost Time Scope The triangle model demonstrates how one element cannot be altered without affecting the other constraints. For example, a broadening of the scope of a project will most likely lead to increases in...
As large organizations implement newer and more effective project management methodologies, they often struggle to ensure that projects and processes are managed in a consistent manner across the entire company. Due to varying business needs or individual preferences, teams in one department might wish to manage their projects differently from teams in other departments. While...
