The Requirements Traceability Matrix (RTM) is a document that links requirements throughout the validation process and project lifecyle. The purpose of the Requirements Traceability Matrix is to ensure that all requirements defined for a system are tested in the test protocols. It ensures that requirements approved in requirements documentation are delivered at the end of the project. Advantages of RTM Optional Items […]
Make-or-Buy Analysis is the process of gathering and organizing data about product requirements and analyzing them against available alternatives, including the purchase or internal manufacture of the product As part of the Procurement Management Plan, we do a Make-or-Buy Analysis which results in the Make-or-Buy Decision Make-or-buy analysis may use payback period, return on investment […]
A make-or-buy decision is an act of choosing between manufacturing a product in-house or purchasing it from an external supplier. A make-or-buy decision compares the costs and benefits associated with producing a necessary good or service internally to the costs and benefits involved in hiring an outside supplier for the resources in question. Strategic decisions […]
About a month ago, I penned down my thoughts on “Navigating the Decision-Making Journey: Empowering Teams in the Organizational Tapestry.” In that piece, I delved into the intricacies of team empowerment and Collaborative Leadership, sharing insights into what works and what doesn’t in the fast-paced world of decision-making Today, I want to tackle another expression […]
Before going into details of each let me start with “KPIs (Key Performance Indicators) and OKRs (Objectives and Key Results) are complementary and can be used together to provide a holistic perspective of the performance and progress of an organisation. While KPIs assist track success against individual objectives, OKRs provide the organization’s overarching direction and […]
This weekend, I tuned into two inspiring TED Talks – “Great Leadership Comes Down to Only 2 Rules” by Peter Anderton and “On the Impact When Everyone is a Leader” by Gitte Frederiksen. As I reflect on these sessions, I can’t help but relate them to the daily challenges in my professional life. Leaders as […]
Every item we ever purchase comes in some sort of package, which could be a box or a cover. This box is the primary marketing and persuasion tool utilised by the company to convince you that its product is superior to the competition. This packaging provides limited room to play and market, which the seller […]
Three-point estimation/PERT Analysis is useful in situations where there is a high degree of uncertainty and risk involved in the project, and when it is difficult to make accurate point estimates. It allows project managers to identify the range of possible outcomes for each task, and to make more informed decisions about resource allocation, project […]
The critical path method (CPM) is a project management technique used to plan, schedule, and control a project. It is used to identify the sequence of tasks that must be completed on time in order for the project to be completed on schedule. CPM is a widely used method in many different industries, including construction, […]
