In many areas of life there are multiple ways to accomplish a goal, and project management is no different. At its most basic level, project management is the organization of people to accomplish a task. Humans have been successfully performing complex projects, like the ancient pyramids of Egypt, for thousands of years however today the processes and methods are … [Read more...]
In project management, like most things in life, there is no free lunch. If you want to finish sooner, you will have to cut the project scope. If you want lower costs, you have to cut expenses. If you want higher quality, you have to pay more. This constant tug of war is called the Triple Constraint, also known as the Project Management Triangle, or the Iron … [Read more...]
Your project team is the single biggest factor in the successful completion of your project. When everything is stripped away, a project is nothing more than teams of people doing some work, and the quality of the final products will only be as good as the people producing them. So how do determine who to pick for your project, and what can you do to ensure the people … [Read more...]
There is no universal definition of project success. Since the very definition of a project is temporary (Project Management Body of Knowledge, 6th Edition), virtually all projects must meet a deadline and budget. But some projects must satisfy certain stakeholders. Others must meet regulatory criteria. Still others must achieve a certain return on … [Read more...]
In 2005, when Airbus was in the development phase of the A380 Superjumbo, they announced a delay in the delivery of the first jet due to internal software issues. One year later, another delivery delay was announced. This time, however, several executives lost their jobs as the share price tumbled 26%. Could the delay have been avoided? Maybe, but this demonstrates … [Read more...]
Identifying risks is a central component of project risk management. Risks are identified using various methods and placed into a risk register. The risks are then analyzed and prioritized, and appropriate risk response plans are drawn up. I would like to update this list and keep it current, so if you have anything to add please leave a note in the comments … [Read more...]
So you want to be certified as a project manager? Certification has many benefits, such as: Promotion Higher pay Recognition Whatever your reasons for pursuing certification, there are several different types of certification you could choose to achieve your goals. These fall into the following two basic categories: Project Manager. For the "full" … [Read more...]
A SWOT Analysis is a tool that achieves competitive advantage by comparing your strengths to your competitor's weaknesses, and analyzing the opportunities and threats that are present. Whether in corporate strategy, project management, or your personal life, making the decisions between various options that each have their own pros and cons is essential to becoming a … [Read more...]
Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. The profession of project management includes the application of many skills, which include: Dividing the project into tasks Creating schedules (deadlines) Estimating budgets Determining project scope Communicating with … [Read more...]
If projects had a share price, they would trade low at the beginning. Instead of completed work that has intrinsic value, the project's stock price would be derived from future hopes and dreams. And there would be many things that could happen between now and then to derail the most ambitious of plans. Near the end, however, most of the project work has been completed … [Read more...]
