To stick to your project budget, you have to track costs. Project accounting, as with general accounting, is a method by which project managers can manage project finances. Project accounting is not the same as balancing your checkbook or even…
Read More
Most people think integrity means being honest. While this is true, the word has another meaning that’s important to project management: the state of being whole and undivided. In a sense, you could call organization design the approach to creating…
Read More
Well-run organizations don’t fly by the seat of their pants; they’re constantly working on business forecasting and business planning. Every decision and every process is based on data obtained from business forecasting, business intelligence tools, market research and scenario planning….
Read More
Today’s hyper-competitive world can be a tough place for many businesses. Large companies are always looking to produce better products while reducing costs, customers’ needs evolve and the world economy fluctuates at large. In a sentence, your business will face…
Read More
You’ve likely heard that nearly half of all new businesses fail. According to the Small Business Association (SBA), 50 percent of businesses fail during the first five years. Over a 10-year span, the percentage increases to 66. But what can…
Read More
Planning for a software development project is essentially choosing one path forward to complete tasks and achieve your goals. But things don’t always work out as planned, and issues such as technical debt can affect your initial project plan. Sometimes…
Read More
When you’re creating a company or working on a business plan, the first thing you should do is create a mission statement. Your mission statement is the base for your company values, vision statement, slogan, value proposition and everything else….
Read More
Total Quality Management (TQM) works to maintain success by doing what is necessary to improve customer satisfaction. Of course, that satisfaction is seeded in employees and business processes—long before any product or service reaches its customer. How does a business…
Read More
A stakeholder is anyone who has an interest in a project, business or organization. More importantly, stakeholder management is critical for the success of any project or organization because it can influence everything and everyone, including senior management, project leaders,…
Read More
Much as a librarian is responsible for organizing a large collection of books, organizations must have a set protocol for managing their business data. Not being able to find or protect data makes for a dangerous precedent. That’s why data…
Read More
What Is OKR? OKR is a goal-setting technique used to track progress as teams move towards achieving objectives that are ambitious and in alignment with the company vision. Google famously found the OKR framework to be an essential tool for…
Read More
If you’re a manufacturer, you need to know about supplier relationship management (SRM). Your business depends on getting products to a target audience. That can’t happen without a steady stream of raw materials and other necessary supplies. That’s why managing…
Read More
Your business operations are only as good as your ability to monitor and control them. For example, manufacturing teams would be lost without a controlling process that lets them measure and improve on their management function. The process of controlling…
Read More
