Managing resources effectively is one of the most critical yet challenging aspects of project management. Resources include people, equipment, materials, budgets, and time. Without proper resource management, projects can go over budget, fall behind schedule, or deliver poor quality results. In this post, we’ll explore some of the common resource management challenges project managers face …
A well-crafted project plan is the foundation of any successful project. It outlines all the key information needed to execute the project efficiently and meet objectives on time and on budget. Here are 10 best practices for developing an effective project plan: Define the Scope Thoroughly The first step is to clearly define the scope …
With COVID-19 pandemic rapidly spreading throughout the globe and almost bringing everyone’s life to a standstill with businesses closing-down and employees forced to stay-at-home because of local or federal guidelines, it is imperative to assess the impact of these unprecedented conditions on the on-going, projects, programs, and portfolios. According to the World Health Organization (WHO), …
To understand the fundamental difference between Project, Program and Portfolio Management, lets dive into what the words ‘Project’, ‘Program’ and ‘Portfolio’ actually stands for. These are very similar sounding functions but very different in nature. ‘Projects’ according to the Project Management Institute (PMI) are the temporary endeavors undertaken to create a unique product, service or …
Key differences between Project, Program and Portfolio Management Read More »