Contract Closure and Administrative Closure Contract Closure Contract Closure is the process of accomplishing all tasks in the mentioned deliverables and on the initial recruiting of the contract. For the contract to be closed, the seller is required to complete each and every component of the deliverables. The products and services must be attained in […]
The risk is a future uncertain event which could have a positive or negative impact on the Project or one of its objective A project issue is a problem that is actively disrupting a project or putting its success in doubt I am sure with the above definitions you have understood that they are different […]
A deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables” PMBOK A Work Breakdown Structure (WBS) is a hierarchical structure of things that the project will make or outcomes that it will deliver” Association of Project Management A Work Breakdown Structure […]
Before embarking on our journey to understand the mentioned terms, let’s understand Decomposition Decomposition as a means of breaking down scope into work package or work packages into smaller activities I understand that for many of us, the project manager it doesn’t make a lot of sense to have two activities as we usually deliver […]
Project Team and Project Management Team let’s start our discussion with the understanding of who is Project Manager. They are organized, passionate and goal-oriented who understand what projects have in common, and their strategic role in how organizations succeed, learn and change. They work well under pressure and are comfortable with change and complexity in dynamic […]
Project Manufacturing vs Operations Project Manufacturing Project Manufacturing is an operation designed to produce unique but similar products. It takes advantage of common manufacturing requirements (and therefore efficiencies), while allowing for customization into “unique” combinations. Unique orders may be managed like a project. Project Manufacturing is a temporary endeavour carried out to develop a unique […]
Project Risk Management Future in ambiguous, future is unknown, no one controls the future. Even with the perfect plan, no one can guarantee that things will go as the team has charted out. The risk is a future uncertain event, which means that it might happen or might not. In order to maintain good control over […]
Project Risk Management (A high-level snapshot) Risks are inevitable. Whatever you do, some of the future uncertain events will happen on the project. You got to be ready to face them. Project Risk Management Knowledge Area helps you prepare for these unexpected and unplanned events. Project Risk Management Knowledge Area Processes Plan Risk Management (Planning) it […]
Project Risk Management Changes and Risks are inevitable, you can’t run from these. To be an effective project manager it is in your favour to plan for these calamities beforehand. The challenge with this planning is that both risks and changes are unknown and this is where Project Risk Management plays a vital role. The […]
