Found 822 Articles for Business

When taking a flight with an airline, you can choose a wide variety of seating options. The factors influencing this choice include ease of use, budget, and convenience. Today, most commercial airlines have three distinct service tiers: first class, business class, and economy class. There is a price difference between the different types of transportation on offer. A few airlines, however, provide a more luxurious option called a premium economy class or economy plus class. These cabin sections are situated between the more basic economy section and the more plush business section. The first-class cabin is being removed to make ... Read More

The process of managing the life cycle of a project is crucial, and a formal process can help you maintain efficiency even in times when disaster strikes. PRINCE2, an approach created in 1989 by the UK Government, can help you manage project lifecycles with greater accuracy and efficiency. Your business is unique, bringing challenges and opportunities. PRINCE2 helps you keep these things in your control, even when dealing with the unknown. It helps you buckle down on projects from start to finish so that the only unknown variables are what you imagine ahead of time. PRINCE2 Methodology PRINCE2 is considered ... Read More

Earned Value Analysis is a way of quantifying project performance against the plan. It's a way to measure deviations from the baseline costs and schedule. Results from an Earned Value analysis indicate whether the project is on track. What Do You Understand by Earned Value Analysis? Earned Value Analysis (EVA) is a method of measuring the amount of work done on a project. It allows you to measure progress and forecast the project’s total cost and completion date based on trend analysis or application of the project’s “burn rate.” Earned value is defined as the “budgeted cost of work performed” ... Read More

Let's look at how risk management actually works along with understanding properly what it is. We'll also explore how to identify, assess and respond to project risks. What is Risk Management? The Risk Management Process is a process for understanding what risks and opportunities your project or organization faces and how best to address them. Steps to Minimize Risk Identifying risk Assessing risks Treating risks Monitoring and reporting risks Identifying Risks Ensuring that a project’s objectives are met is the ultimate goal. To do this, it is important to identify all of the events that can affect ... Read More

The WBS is the most basic subdivision of a project. It focuses on dividing large projects into smaller and simpler chunks of work and provides information about it. A good WBS will help you manage scope, schedule, and budget. You need to give it the importance it deserves to make sure you get all the crucial aspects of Project Scope Management. Your project charter should include a list of activities that need to be completed. This is usually called a work breakdown structure, which is made of smaller lists you can complete individually. This article will look at the advantages ... Read More

Project management is a structural way of scheduling, executing, and controlling the various phases of a project with the end goal being to complete the project on time. Two project management techniques that every manager should know about are PERT and CPM. These techniques help provide an overview of the project's progress and all the tasks involved in completing it. What do you understand by PERT? PERT is a technique used to plan and track projects, manage risks, and allocate resources. PERT helps identify the minimum time needed to complete a project, as well as manage any potential delays that ... Read More

Managing a project is never easy. With multiple departments working together, different deliverables, and multiple moving parts, it’s often pretty challenging to finish your project successfully. That’s why businesses (no matter how small or large) hire a project manager to ensure smooth and flawless project execution. When starting a project, an initial meeting where you get a rough estimate of the budget and set a timeline won’t do. One of the essential parts of project completion is project design. In this post, we will walk you through everything you should know about project design, its uses, and how to create ... Read More

A project manager plays an important role in managing human resources and handling all aspects of a project efficiently. They are mainly associated with the construction and engineering industry, but with the increasing popularity of effective project management, the demand for a manager has been growing exponentially across various industries. A project manager is known for their ability to complete and deliver all types and complexities of projects in a timely manner. They provide leadership and direction to their teams, helping them navigate the tricky parts of projects efficiently. For the past three decades, the PMP exam has been considered ... Read More

Managing a team can be challenging. A manager has to manage all aspects of a project, including the resources, suppliers, billing, timeline, and, most importantly, human resources. A manager has to oversee each member to ensure everyone is working efficiently. Fortunately, there are certain techniques that can simplify team management. Before we discuss those, let’s take a look at the meaning of team management, why it’s important, and where it is needed. What is Team Management? Team management is the process of coordinating different resources and departments involved in the project to ensure seamless completion of the project. It’s all ... Read More

Following a robust and well−planned risk management strategy has become more important now than ever. Especially after the COVID pandemic, organizations have been focusing on risk management for all projects. Whether they are developing a simple mobile app or are planning a business expansion in the international market, risk management is essential. The project planning is incomplete without identifying the potential risks that might arise from deploying new strategies. How quickly and effectively you plan risk management will determine how well you can cope with the unforeseen and how your business performs in tough times. Risk management can involve strategies ... Read More