When we talk about project management, it’s one of the most functional management cores in organizations around the globe. While we talk about technical or hard skills more often to better compete in this field, I decided to explore the soft skills domain and how it can contribute to the entire concept. The foremost model […]
While there is a lot of talk about hard skills, I would be focusing on social skills in this article to enhance productivity and boost organizational performance. These skills help us to understand the best application of technical practices in certain situations in real time. They further promote hard skills and go way beyond technical […]
There is a lot of ongoing discussion about emotional intelligence (EI) and its influence on the diverse and dynamic field of project management. That being said, it can significantly contribute to performance and success. Project managers who use the key principles of emotional intelligence in their routine job take one step ahead in their career […]
MVP (Minimum Viable Product) and MBI (Minimum Business Increment) are two concepts in product development used to determine the minimum set of features and functionality required to deliver value to customers and stakeholders. Minimum Viable Product (MVP) A minimum viable product (MVP) is a version of a new product that is built with as little […]
Quantitative risk analysis is a process of evaluating the potential impact of uncertain events on a project or business. It involves the use of mathematical models and statistical techniques to estimate the likelihood and potential consequences of different risks. The goal of quantitative risk analysis is to identify and prioritize the most significant risks so […]
A probability and impact matrix is a tool used in qualitative risk analysis to evaluate the likelihood and impact of identified risks. It uses a numerical scale to rate the likelihood and impact of each risk, which can then be used to prioritize risks and develop strategies to mitigate or manage them. This matrix specifies […]
Identifying risks is a never-ending task, although some are more likely to occur than others. In addition, certain hazards will inflict a substantial amount of damage to your enterprise, while others will barely make a dent. Therefore, we wish to concentrate our efforts on events that are not only probable but also have the most […]
A Project Management Plan (PMP) is a document that outlines how a project will be executed, monitored, and controlled. It includes information on the project’s objectives, stakeholders, deliverables, timelines, resources, and risks. The PMP serves as a guide for managing the project, and is typically developed by the project manager in collaboration with the project […]
The accuracy of an estimate is a measure of how close the estimate is to the actual value. The accuracy of an estimate can be affected by several factors, including the amount of information available, the level of detail in the estimate, and the method used to create the estimate. The Usage of different estimates […]
