Working Capital | A Complete Guide
A Complete Guide to Working Capital (WC) Working Capital Defined – During your business career, you have likely run into the term WC more than a few times. But do you know what it really is, and why it’s important to know? Working capital formula measures the difference between your current assets and current liabilities. It is an important indicator […]
Risk Appetite | What is Risk Appetite?
What is Risk Appetite? – Risk Appetite is the degree of risk that an organization is prepared to accept in the wake of its objectives, before action is decided to be necessary to reduce the risk. It may show a balance between the positive and negative risks that change and innovation brings. Although various authorities and standards provide various definitions […]
Types of Stakeholders and Roles in Project Management
If you are new to project management, most probably you asked the following question; What is a stakeholder? and get confused about the answer. In general, the definition comprises the following; Stakeholders are people or organizations who are associated with a particular project and influenced by the outcomes of this project in a kind of way, and also they have […]
PMP
Top 5 Scrum Tools for Agile Project Management There is no dearth of software tools that uses Scrum framework...
What is a Scrum Team? Structure, Roles and Characteristics A Scrum Team is a collection of individuals working together...
Product Backlog vs Sprint Backlog Product Backlog vs Sprint Backlog – Product Backlog and Sprint Backlog are two of...
Sprint Retrospectives in Scrum Retrospective is one of the important events in the Scrum Framework of Agile software development....
When you think about blockchain, you will always think in relation to cryptocurrencies like bitcoins to ensure secure transaction,...
In today’s ever-changing dynamic business environment, it is imperative that you define and manage your strategies to drive your...
As a project manager, sponsor or coordinator, you need to focus on a number of details, notifications, and plans...
A Complete Guide to Working Capital (WC) Working Capital Defined – During your business career, you have likely run...
What is Risk Appetite? – Risk Appetite is the degree of risk that an organization is prepared to accept...
Congratulations! you passed the PMP Certification Exam and become a certified professional. You learned the latest trends, skills, methodologies...
Value analysis is a relatively new approach to managerial decision-making. It includes a set of techniques to identify unnecessary...
Organizations handle projects to gain benefits (in either monetary or non-monetary terms), achieve goals and satisfy client needs. People...
Professionals often think acid-test ratio or liquidity are chemical terms and they are just used to refer to chemical...
Program Management is an important term in project scope management. A lot of people mix up the differences between project,...
How to Make Sure You Provide an Inclusive, Discrimination-Free Workplace Environment As an employer or manager, you have a...
If you are new to project management, most probably you asked the following question; What is a stakeholder? and...
If you are preparing for your CAPM or PMP Certification Exam, you should know the key points of qualitative...
During the life cycle of a project, team members encounter different types of risks. Those risks often have negative...
What is qualitative risk analysis ? – Risk analysis is one of the most important steps in risk management....
Cost and duration estimations for a project can be very important tasks. It is often difficult to determine each...
Project Schedule Management Process and Tools Project Schedule Management involves practices to guarantee timely completion of the project. Schedule...
What is the Purpose of a Strategic Plan? In this article, we will talk about basic elements of a...
In this article, we will discuss the importance of transparency in project management and its key benefits for project...
What Makes a Project Manager Successful? What makes a project manager successful? or What are the habits of successful...
What is a Project Plan and How to Write it? A few months ago, we received a question “What...
Importance of Business Policy in Organizations Each business has a manner by which it works and gets things done....
Remote Project Management Remote work is a type of working that allows people to work outside of an office...
Whether you are a project manager at a large project or a team member in a small organization, you...
Project Performance Improvement Evaluation Tips By proactively taking time to slow down, you can begin to understand and pursue...
If you want to become a project manager who has advanced technical skills, you need to involve yourself in...
Six Key Elements to Promote Happiness in the Workplace Business is nothing but a series of relationships between companies...
Trust is one of the most important assets that a project manager can have. Undoubtfully every project manager wants...
Management is one of the most important tasks in business. Project managers have a large influence on how their...
A project status report is a type of report created for project management that demonstrates the current status of...
Successful Project Management Tips | 6 Tip How to become a successful project manager? Professionals in any industry often...
In this article, we will take a look at lessons learned questions in project management and share an example...
Life may teach many valuable lessons to us in the process of time. The same goes for project teams....
Why Do Projects Fail? – Reasons for Project Failure So many projects fail due to a list of common...
How To Take Notes While Listening or Reading – Note Taking Strategies Many note-taking strategies can be used while...
Emotional Intelligence Skills in the Workplace Project managers are project team leaders. They have certain skills and competencies to...
How to Manage and Resolve Project Conflicts Conflict management is the practice of minimizing the negative effects of conflict...
Crisis Management in Project Management Crisis management is an important concept in project management. As a project manager, you...
How to manage a project with Emotional Intelligence? Is it possible to manage projects with empathy? It is not...
Best Productivity Tips and Tricks that Boost Your Productivity Are you busy all the time? Most people wake up...
Emotional Intelligence in Project Management What are the advantages and disadvantages of Emotional Intelligence in the workplace? Emotional intelligence...
How to become a project manager? What are the skills needed to become a good project manager? The answer...
What are the four scrum ceremonies? What are the three Scrum Roles? Basically, Scrum ceremonies are important meetings of...
A trend can be defined as a change in a general direction. Like other disciplines, project management is changing...
Agile vs Waterfall – Project managers often wonder about which methodology is best for their projects. Because methodologies are...
A lot of people have started preferring businesses over doing a job. The reason is obvious. They get to...
No matter you are trying to find some basic project management terms or looking to understand the key differences...
Risk Management Plan Template and Example This article discusses how to write a project risk management plan and offers...
A project kickoff meeting is one of the most important meetings in a project life cycle. It provides a...
Did you attend a kickoff meeting before while starting a new project? Did you talk about vision and the...
Although the benefits of effective Project Control, Cost Control and Cost Management systems are well known too often most...
A project kickoff meeting is one of the most critical meetings in a project which provides an opportunity to...
A lot of people ask the following questions: What is an example of a smart goal? What are the...
Discussion about project objectives often starts like that: the client requests some additional benefits (more revenue, better brand recognition,...
Delay is quite common, especially in construction projects. Delay can be caused by the Client, the Contractor, and the...
Oracle Primavera P6 is one of the best project management tools available on the market. Although it has advanced...
In a construction project, managing critical activities with CPM and leveling resources without using a construction project scheduling software...
Time management is one of the most important functions of project management. Much researches have been conducted and many...
Construction Schedule Management includes the processes required to complete a construction project on time by meeting the major project...
Schedule Reader – Considering today’s large and complex projects, project team members spend most of their time with communication...
Do you have personal goals like being healthier in the next year or becoming a certified project manager? Just...
Construction Contract Agreement & Different Ways of Contracting A construction contract agreement is an agreement between the owner and...
Stakeholder Mapping Matrix in Stakeholder Management Stakeholder Mapping Matrix – If you are a project manager or a team...
Do you know the definition of Statement of Work? or Have you ever heard the term; Statement of Work...
If you want to deliver your project successfully, you need to estimate the project budget correctly by using different...
When I was working as a junior project control engineer, I was thinking that it is very difficult to...
Many people ask us how to create an effective and useful project plan template. In this article, we will...
Have you ever participated in a sprint retrospective? If you are working in the software development industry, most probably...
What is a project charter and why is it important? What is included in a project charter? Many experts...
Did you hear the term RACI before? or Did you create a project roles and responsibilities matrix before? Many...
Project Initiation Document vs Project Charter – If you are preparing for the PRICE2 exam, most probably you have...
Project initiation – A Short Guide The beginning period of a project requires hard effort and proper planning because...
A project status report demonstrates the current status of the project. It is a communication tool widely used by...
List of Technical Skills in Project Management with Examples List of Technical Skills in Project Management with Examples- If...
Sprint Planning Meeting – Best Practices Did you participate in a sprint planning meeting before to start a new...
How to Become a Project Manager? What qualifications do you need to be a project manager? How to become...
What is the best portfolio management software? – Project Portfolio Management is a popular term which refers to manage...
Professionals working in the field of project management frequently ask if becoming a certified project manager really helps to...
Construction Insurance: A Builders Guide Common types of construction insurances involve Contractors General Liability, Builder’s Risk, Workers Compensation and...
PMP Exam Questions and Answers (Sample Questions) The PMP (Project Management Professional) is an internationally recognized certification and the...
Scrum Master Interview Questions & Agile Scrum Interview Questions and Answers Agile Scrum is one of the most useful...
What is a Business Plan, How to Create a Business Plan? A business plan is one of the most...
Feasibility Study in Project Management What are the benefits of conducting a feasibility study? A feasibility study is conducted to...
Project Manager Interview Questions and Answers In this article, we will discuss technical and scenario based project manager interview...
Project Manager Skills and Competencies Project management is a popular field of business. Its popularity is increasing every day...
Top Project Management Courses to look for in 2019 Project Management Courses – Project management is a technique, which a...
What is Business Service Management (BSM)? BSM or Business Service Management is a new methodology which is implemented by...
What is Primavera P6? How to Use Primavera P6? What is Primavera P6? – In today’s challenging business environment...
Project Management Dashboard for Efficient Projects Nowadays project managers must overcome the problems arising from the complexity of projects....
Project Integration Management Best Practices Project management is an extensive concept which involves managing departments, resources, schedules, clients, stakeholders,...
Enterprise Project Management It is not possible to reach the anticipated results with traditional project management solutions all the...
How to Become a Primavera Project Planner Primavera Project Planner – There are many employees working in the project management...
Primavera P6 Tutorial for Beginners A few weeks ago one of our readers asked “How long does it take...
What is a Scatter Diagram ? – A Scatter Diagram is also known as Scatter Plot or Graph is...
Risks of BIM – In this article, we will talk about the risks and challenges of BIM building information...
Benefits of Building Information Modeling BIM in Construction Industry BIM building information modeling is actively used by many construction...
The Building Information Modeling (BIM) is a process of creating a digital representation of physical and functional characteristics of...
What is the best PMP Exam Simulator? What is the best PMP Exam Simulator? – There are lots of...
Download Microsoft Project Free Trial Version Creating a serviceable project schedule is vital for any project’s success. All the...
Primavera Portfolio Management & Enterprise Project Structure Project Portfolio Management is a popular term in project management which refers...
Primavera Project Management Gantt view of Primavera P6 Professional Project Management Software is designed to visualize large-scale, highly sophisticated,...
Primavera P6 Download Free Trial Version Oracle Primavera P6 Professional Software is one of the most popular project scheduling...
Microsoft Project vs Primavera Which One is the Best? Project management professionals occasionally ask this famous question: Which one...
In large and complex project schedules, it may be very difficult to view activities under a specific group, work...
In a large and complex project schedule, a large number of changes and assignments to activities may take a...
Oracle Primavera P6 Duration Types Explained How to calculate duration in Primavera P6? Duration types and percent complete types...
The term resource leveling is widely used in project management to refer to resource optimization and limitation. Resource leveling...
Stacked Bar Chart and Primavera P6 Stacked Histogram Charts and histograms are visual presentation tools that help readers to...
Efficiency is key to success in today’s economic conditions. Allocation of resources in an efficient way within the project...
Cost loading and resource loading terms are widely used in project planning to refer time distributed value of costs...
When a work schedule is created and the baseline is assigned, the project team starts to track the project...
There are many tools, techniques and software exist in the field of project management to improve planning and monitoring...
Oracle Primavera P6 Activity Splitting Activities are represented as bars in Gantt Charts and Work Schedules. In some cases,...
Schedule Baseline, Project Baseline and User Baseline in Primavera P6 A schedule baseline (also known as baseline schedule) is...
Activities are represented as bars in the Primavera P6 Gantt Chart View. Primavera P6 Bar Labels window can be...
Do you know how to calculate the critical path of a schedule? Critical Path Analysis is an important concept...
A few months ago one of our readers asked: “How to Generate Different Types of Resource Curves in Primavera...
A project work schedule is a project document which represents all the milestones, activities, tasks and their dependencies required...
Project Life Cycle Phases in Project Management The main purpose of a successful project management team is to complete...
Waterfall Model & Waterfall Methodology Waterfall model is a sequential and linear model for software design and development processes....
PRINCE2 and PMP Comparison – In this article, we will go through a detailed analysis of PRINCE2 vs PMP...
Lean Project Management and Lean Methodology Lean project management covers a wide spectrum of concepts such as lean manufacturing, lean...
Kanban methodology is a project and process management tool introduced by an industrial engineer Taiichi Ohno in the late...
Agile Project Management Methodology Agile became a popular concept in today’s economic environment. Researchers, experts, and specialists often discuss...
Project Management Methodologies Companies should be more effective and efficient to maintain and improve their business activities considering today’s...
If you are working in the field of project management or preparing for the PMP Certification exam, most probably...
PMP Exam Preparation Tips to Crack the PMP Exam Exams are part of our lives. Everybody knows that studying...
A good project manager plays the most important role in the successful completion of a project. The productivity of...
Time management is one of the most important processes in project management. It is the discipline of planning and...
Time and cost management are two essential processes for all projects. Baseline schedule and budget are key project management...
Stakeholder Register in Project Management Stakeholder management is one of the most important processes in any projects life cycle....
Stakeholder Analysis and Stakeholder Management Parties that involved in a project often have various requirements. It is difficult to...
Project Coordinator Skills and Responsibilities Project management teams include many professionals with different skills and knowledge. Thousands of tasks...
Project Planning Scheduling Techniques and Project Schedule Management Project management teams use various tools and techniques to create work...
Salience Model to Classify Project Stakeholders The term “stakeholder” is widely used in project management. Stakeholder is someone who...
Project Documentation – 10 Key Project Documents PMP aspirants often ask these common questions: What is project documentation? ,...
Project Proposal vs Project Charter Project Proposal and Project Charter are two different documents and their purposes are different...
Project Scope Management : A Short Guide The objective of Project Scope Management is to define and manage the...
Methods of Forensic Schedule Delay Analysis Construction projects have their own typical problems resulting in construction disputes. It is...
How to Create Effective Gantt Charts ? If you are working as a scheduler or a project control engineer,...
The Importance of PMP Certification (Project Management Professional) If you are working in the field of project management, most...
Production Planning and Control System (PPC) Planning takes a great place in every successful people’s lives. Most of the people...
Project management reporting and effective communication play a vital role in the success of any project. Team members, stakeholders,...
Project Management Processes and Knowledge Areas PMP aspirants usually ask these common questions while preparing for the PMP Certification...
Project Cost Management Best Practices What is project cost management, why is it important for your projects success and...
Primavera Work Breakdown Structure (Primavera Video Tutorial) Creating a Work Breakdown Structure is one of the first steps of...
Assigning Expenses in Primavera P6 Tracking expenses is a critical process for any projects life cycle. It is very...
Oracle Primavera P6 Adding Activities and Activity Types Once you have created your project’s work breakdown structure (WBS) in...
Four Week Look Ahead Schedule in Primavera P6 Tracking the performance of a work schedule is the next step after...
Primavera P6 Activity Codes : Creating and Assigning How to arrange activities in Primavera P6? Primavera P6 Activity Codes...
Resources & Resource Allocation in Primavera P6 Resource management is an important activity in project management. Generally, project managers...
Primavera P6 Calendars – Creating , Assigning ,Modifying Two weeks ago, one of our readers asked: What is a...
Primavera P6 is an enterprise project portfolio management software. It involves project management, product management, collaboration and control capabilities,...
Top-Down Estimating (Top-Down Estimation) Top-down estimating (or top-down estimation) is a useful technique which relies on the information provided...
Preventing Claims and Construction Claim Management Process Construction claim management is an unavoidable process while managing a construction project....
Residual Risks vs Secondary Risks Residual Risks vs Secondary Risks – We face risks in our daily lives. In...
Master Schedule vs Milestone Schedule – Project schedule, baseline schedule, master schedule, milestone schedule and work schedule are widely...
Construction Claims & Prevention and Resolution Tips Claim Management is an unavoidable process in any construction project life cycle....
Project Schedule vs Baseline Schedule (Schedule Baseline) Project Schedule vs Baseline Schedule – Time management is an important task...
Leadership Styles in Management Different types of leadership styles exist in organizations. The nature and culture of an organization...
Project Schedule vs Project Plan – If you are new to the project planning and scheduling, you may not...
Project managers often wonder how much money they will spend to complete the remaining project works. If the remaining...
Contingency Plan vs Fallback Plan Now we will talk about Contingency Plan vs Fallback Plan with examples. Contingency plan...
Cost Variance (CV) in Earned Value Management Performance measurement is an important task in project management. In order to...
Work Performance Reports in Project Management Monitoring and controlling the status of the project is essential for any project’s...
Project Scope vs Product Scope with Examples Project Scope vs Product Scope. Organizations undertake many projects or produce many...
Advantages and Disadvantages of Gantt Charts If you are working in the field of project management, you must have...
Accuracy vs Precision in Quality Management What is the difference between accuracy and precision? How to calculate accuracy and...
Estimate Activity Duration – 6 Tools Professionals who seek to build a career as a project manager must learn...
In today’s economic environment, organizations must be efficient, flexible, innovative in order to obtain a competitive advantage in the...
Stakeholder Management in Project Management All the projects are subject to external influences. Even if everything is clearly defined...
Corrective Action vs Preventive Action vs Defect Repair Corrective Action vs Preventive Action vs Defect Repair is one of...
Project Plan vs Project Management Plan Project Plan vs Project Management Plan – Whether your organization undertakes a small...
Difference Between Leadership and Management with Examples What are the traits to be a good leader or manager? In...
There are many tools and techniques used in project management to measure the performance of a project. One of...
Basic Contract Documents Every Contract Must Include Contract management is an extensive process from the initiation of the project...
Configuration Management vs Change Management Changes are inevitable in any projects or products life cycle. Some changes have effects...
Request For Information (RFI) Process in Construction A request for information (RFI) is a formal process used to get...
What is 5 Whys Technique and How to Perform 5 Why Analysis ? Unforeseen events or problems may occur...
Risk Appetite vs Risk Tolerance vs Risk Threshold Risk Appetite vs Risk Tolerance vs Risk Threshold is one of...
Project Coordinator vs Project Expeditor Most of the projects involve several working groups that must be managed to meet...
Risk Response Strategies for Positive Risks – Risk is an unforeseen event that may have positive or negative effects...
Project Charter (Project Definition Document) How to write a project charter ? or Who creates the project charter? If...
Schedule Performance Index and Cost Performance Index Schedule Performance Index (SPI) and Cost Performance Index (CPI) allow you to...
Grade vs Quality Grade vs Quality is one of the most popular articles in our blog. Grade and quality...
Risk Response Strategies for Negative Risks (Threats) Risk is an uncertain event or condition which has impacts the project...
Work Performance Data and (WPD) Work Performance Information (WPI) in Project Management If you are preparing for the PMP...
Enhance Risk Response vs Exploit Risk Response Enhance Risk Response vs Exploit Risk Response – Risk response strategies are...
Cost Estimation Methods in Project Management Estimate costs process in project management is the practice of estimation of the monetary...
Why does a project manager need to understand both project lifecycle and product life cycle? Project Life Cycle and...
Earned Value Management is a significant concept from a PMP Certification Exam point of view. Therefore PMP aspirants should know the...
Construction Contract Types A construction contract is a legal agreement between the client and the contractor which involves basic...
Project Management Program Management Portfolio Management Project Management, Program Management, and Portfolio Management are very important terms in project...
The Monte Carlo Simulation is a quantitative risk analysis technique which is used to understand the impact of risk...
Claim Management in Construction Projects Construction claims are getting complex based on the nature and the complexity of the...
PERT Program Evaluation Review Technique Activity on Node and Activity on Arrow Diagrams, Critical Path Analysis, Critical Chain Method...
Communication is an invaluable skill for project managers that plays a key role in project management. Creating good communication...
There are many tools, techniques and formulas used to forecast the cost performance of a project. To Complete Performance...
In order to conduct organizational activities and manage projects in an orderly manner, organizations are established in various structures....
Enterprise Environmental Factors vs Organizational Process Assets Enterprise Environmental Factors (EEF) and Organizational Process Assets (OPA) are the inputs...
There are many forecasting tools and metrics used to calculate the future performance of a project. Schedule Variance, Cost...
Project Selection Methods for Decision Making The success of organizations is dependent on the profitability of projects that they...
The Expected monetary value analysis (EMV) is an important concept in project risk management which is used for all...
Scope Creep and Gold Plating in Project Management Every project has a budget, an expected finish date, deliverables, and...
How to Become a PMP (Project Management Professional) ? When you decide to become a Project Management Professional, the first...
Project Scheduling Steps for a Successful Management Creating a serviceable project schedule is an indispensable activity for a project’s...
Conflict Management Techniques in the Workplace In this article, we will discuss conflict management techniques in the workplace and...
Risk Management Terms & Risk Management Process Risks are the unforeseen events that may have positive or negative effects...
Project management is a practice of planning, scheduling, executing, controlling, reporting and closing the project successfully. Most of the...
How to Create a Work Breakdown Structure? The concept, Work Breakdown Structure is widely used by professionals to represent...
Have you ever heard contingency budget in project management? Actually, Contingency Reserve vs Management Reserve is an important topic...
Types of Organizational Structures Which one is the best organizational structure? Actually, it is difficult to answer this question....
Lead vs Lag (Lead Time Lag Time) in Scheduling While creating a work schedule or a network diagram, professionals...
Pareto Chart (Pareto Analysis) in Quality Management There are many tools, techniques, diagrams, and charts are used in quality...
5s Methodology & Principles in Project Management Organizations often try to change their production system to achieve more work...
Common Cause Variation vs Special Cause Variation What are the causes of variation in quality control or what are...
Cost Benefit Analysis (also known as Benefit Cost Analysis) is an important concept in project management. Simply put, it...
Critical Chain Method (CCM) in Project Management There are lots of project planning methods, tools and techniques available in...
Arrow Diagramming Method (ADM) in Scheduling Arrow Diagramming Method or Activity on Arrow Method (ADM) – Humans are creating...
Total Float vs Free Float in Scheduling 2 weeks ago, one of our readers asked how to calculate float...
Cost Benefit Analysis Example (CBA Example) Cost Benefit Analysis (also known as Benefit Cost Analysis) is a mathematical approach...
The Project Management task becomes more challenging considering today’s large and sophisticated projects. Effective time and cost management become...
Cost classification is an important concept in budgeting, accounting and project management. Cost classification and categorization of expenses help...
People face risks in their everyday life. In a similar manner, project teams, companies, organizations, and even projects face...
Productivity is very important in today’s competitive business environment. Organizations seek ways of improving their processes, reducing costs and...
Fishbone diagram , also known as cause and effect diagram or Ishikawa diagram is a quality management tool that...
Project procurement management is vital for the successful completion of a project. It has four steps which are planning,...
Critical Path Method (CPM) in Project Management The critical path method (CPM) is a fundamental concept in project planning...
Schedule Compression Techniques – Fast Tracking vs Crashing Schedule Compression Crashing and Fast tracking – Tracking schedule is essential...
Precedence Diagramming Method (PDM) is a visual representation technique which is used to prepare the project network diagram and...
Organizations are formed in different structures such as matrix organizational structure, functional organizational structure , composite organization, etc. In...
What is Lean Six Sigma Methodology ? What is Lean Six Sigma Methodology ? Today’s economic environment is very...
Close Procurement vs Close Project Close Procurement vs Close Project – Procurement is the operation of planning, tendering, purchasing goods,...
Six Sigma Methodology and Six Sigma Principles Six Sigma is a powerful problem solving and process improvement tool developed...
Arrow diagramming method (ADM) is a network diagramming technique in which activities are represented by arrows. ADM is also...
Assumptions and Constraints in Project Management If you are preparing for the PMP Certification exam, most probably you have...
What is the importance of Decision Tree Analysis in project management? Today, we are going to discuss the importance...
Earned Value Management Tutorial In this Earned Value Management tutorial, we will discuss the three metrics (Planned Value, Actual...
Control Chart versus Run Chart If you are preparing for the PMP Certification exam, most probably you asked the...
Earned Value Management Example & Tutorial One week ago, we received an email from one of our readers asking...
Stakeholder identification in Project Management Stakeholder analysis and Stakeholder identification is an initial phase in project management. Stakeholders are...
The PERT Method – Program Evaluation and Review Technique Example & Definition In this article, we will discuss the...
What is Claims Management in Construction? In this article, we will discuss Construction Claims Management process , examples of...
