Scope issues are the #1 reason for project failure. Today more than ever, it's imperative that all projects need a scope management plan. Scope management refers to the process of identifying and controlling the total resources that are involved in a project. It is important that scope be defined exactly. Too little, and you will have to answer to the stakeholders. But … [Read more...]
Scope management, or rather the lack of it, is one of the biggest reasons for project failure. Correctly defining what is and is not included in the project is absolutely foundational to good project management. I've seen many projects go south even though they had the right expertise, schedule, high quality deliverables, and even satisfied clients. But if the dreaded … [Read more...]
Lately there’s been alot of talk about the cloud. Apple has the iCloud, Microsoft has a cloud, and everybody seems to be going to the cloud. But what does that mean? And how is it useful to an engineer? I’ll start with the explanations. Before the widespread use of the internet, I.T. textbooks generally dealt with the local network, and … [Read more...]
A strategic plan documents the methods by which an organization achieves its corporate goals. We at ProjectEngineer have developed the best free strategic planning template on the internet, and we offer it to you here as a free download ( | ). A strategic plan contains the following 10 key parts: Mission statement Corporate goals Key Performance … [Read more...]
As an entrepreneur and president of an engineering company, I've seen how difficult and elusive it is to get an advantage over your competitors. Many companies have started something new only to see it copied or substituted in short order. What is the "secret sauce" that companies like Apple, Southwest Airlines, and Starbucks have, and how can you create it for your … [Read more...]
Experience has taught me that the highest quality producer is quite often the lowest cost one. Say what? This is because of a factor called the Cost of Poor Quality, sometimes called Cost of Quality (COQ). Although production of high quality products and services usually requires an investment in equipment, people, or processes, the production of poor quality products … [Read more...]
Strategic planning involves the development of actions that support the achievement of a corporate goal. The corporate goals must be defined first, and the strategic plan becomes the "how to" manual to achieve the goals. Business schools make strategic planning more complicated than it is. If you understand these 8 tools, you've mostly mastered the subject: PEST … [Read more...]
When I was a middle manager, I saw many goals that ended up as roadkill on the business superhighway. Whatever the flavor of the year was, that's what was reflected in the business goals. Things like: reducing dependence on one client, diversifying our service offerings, and others made the rounds through our business units. One year our vice president even said … [Read more...]
In this article, we will take a leisurely stroll through the strategic planning process. This includes the model most used in textbooks and courses on corporate strategy. The strategic planning process consists of the following steps: Vision Statement Mission Statement Corporate Goals Corporate Strategy Metrics Vision Statement A vision statement is a … [Read more...]
Value Chain analysis is a process improvement methodology developed by Michael Porter of Harvard Business School in the 1980's. It is a part of the field of strategic analysis. The "value chain" refers to the process of creating value throughout each step of of the business chain. For example, An exploration company creates value by discovering iron ore in a mound … [Read more...]
