Some projects are done internally within an organization. They don’t directly deliver new products or services to customers, but improve the way an organization does business and that impacts customers. This is called operational project management. To better understand operational…
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The most successful companies always have one eye on the future so they can not only survive but thrive. That doesn’t happen without an organizational strategy to plan for the organization’s long-term success. Organizational strategy has many layers. We’ll first…
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Any organization, whether for-profit or not-for-profit, even governmental agencies, all have something in common. That is, they all develop strategic plans to achieve long-term goals to create value. To communicate this, organizations will usually employ what is called a strategy…
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There are many ways to approach budgeting. Two of the more common approaches are bottom-up budgeting and top-down budgeting. Knowing which is right for you starts with understanding both of these budgeting approaches. Let’s start with defining both bottom-up budgeting…
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Tactical planning is the practical counterpoint to strategic planning, which describes the overall direction of an organization. Tactical planning tells you how to get there. It’s about execution and, therefore, critical to achieving your strategic goals. This concept is an…
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Organizations define a high-level view of their direction with a strategic roadmap. This strategy roadmap is used to show where the organization is, where it wants to go and how it plans to get there. But the strategic goals and…
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Projects are often viewed as standalone events. They are, after all, temporary and create a deliverable when completed. But this is a short-sided view that misses the big picture. Projects are often part of an organization’s larger goals and objectives….
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Capital is money. In finance, capital is money that a company has, such as earnings or credit, which it can spend or invest on assets. Figuring out what to spend its capital on, such as capital spending on long-term assets,…
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Businesses aren’t projects but they share many commonalities. While businesses run projects, they also have strategies and objectives that must be met. All of these things and more make them a perfect candidate for business project management. Let’s first explore…
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One of the measures of a successful project is not often talked about. Most know of the project management triangle of scope, time and cost. There’s also quality. But few mention the importance of having project alignment. What Is Project…
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Businesses are always looking for ways to improve their practices. But is it possible to structure a process of continuous improvement at your company so that it aligns with your preferred management tools, team morale and overall objectives? In other…
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What Is Logistics Management? Logistics management is the process of managing the activities that are required to transport goods from its source to the final customer. That process involves a series of logistics activities such as order processing, material handling,…
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Contingency plans are used by smart managers who are aware that there are always risks that can sideline any project or business. Without having a contingency plan in place, your organization won’t be well prepared for risk management. What Is…
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