Large corporations often face high-stakes decisions when considering investments in projects like new plants, high-rise condos, or major I.T. initiatives. How do they determine which projects are worth investing in? Capital budgeting provides the financial framework to evaluate feasibility and compare potential investments. When organizations generate profits, they … [Read more...]
Procurement is a critical process for many projects and organizations, enabling the acquisition of external goods, services, consultants, contractors, and suppliers to drive success. While this approach is highly effective for delivering project work, it comes with inherent challenges that must be addressed to ensure seamless execution. A well-defined procurement … [Read more...]
Effective procurement is vital for project success, ensuring the timely and cost-efficient acquisition of goods and services. A procurement management plan, as outlined in the Project Management Body of Knowledge (PMBOK Guide), is a key component of the overall Project Management Plan. It provides a structured approach to managing external purchasing, distinct from the … [Read more...]
There is nothing more powerful than a project manager who utilizes one of the three main project management methodologies but focuses most of their effort on being a strong leader. That's because the common denominator in all projects is people. Project management involves alot of charts, numbers, and methodologies—but at its heart is leading people. A truly … [Read more...]
Gantt charts are largely considered the project manager's primary tool. The Carpenter's hammer, if you will. A Gantt chart is an amazingly powerful yet simple visual tool that maps out a project’s schedule, with task durations displayed as horizontal bars. Simple yet intuitive, it’s the go-to method for communicating project timelines, offering stakeholders an … [Read more...]
In today’s digital age, social media is not just for sharing personal updates or marketing products; it's an incredibly powerful tool for project managers aiming to improve project delivery. When used strategically, social media can enhance communication, collaboration, stakeholder engagement, and even project marketing. Here are six ways that project managers can … [Read more...]
In the Scrum framework, a vital part of Agile project management, the Scrum Master serves as the team's servant leader and champion. But far from being a traditional boss or project manager, they guide the team in embracing Scrum practices, facilitate key meetings, and act as the resident Scrum expert. Their mission is to unlock the team's full potential and drive … [Read more...]
In project management, efficiency is everything. Projects that run like well oiled machines create high quality products and delighted stakeholders, especially the product owner. Fortunately, the Agile roles and responsibilities make it easy to create just such a project. But let's get some semantics out of the way first. Agile itself is an overarching … [Read more...]
Project presentations are a critical part of many projects, whether delivered at the kickoff, midpoint, or conclusion. These presentations may target managers, executives, team members, or stakeholders with a vested interest in the project's success. While presenting can feel daunting, it doesn’t have to be. With practice and a few key principles, you can deliver a … [Read more...]
The 12 Agile Principles, crafted alongside the Agile Manifesto, offer a deeper dive into the vision and practical application of the Agile project management methodology. Expanding on the Manifesto's four core values, these principles provide a clear, actionable framework from the Agile founders. They form the backbone of Agile project management, underpinning various … [Read more...]
