Cost Benefit Analysis

A Cost Benefit Analysis or benefit/cost analysis is a process of determining the pros and cons of any process, product, or activity or simply whether the benefits of a project or decision outweigh its costs Advantages of CBA Cost-benefit analysis is an effective decision-making tool that relies on data-driven research specific to a problem, considering […]

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Market Structure (based on Competition)

Market structures vary based on the level of competition, ranging from the perfect competition where many buyers and sellers exist to the monopoly where one seller dominates the market. What is Market Structure? Market structure, in economics, refers to how different industries are classified and differentiated based on their degree and nature of competition for […]

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Project Compliance

Compliance with existing laws, rules, policies, standards, and recommendations constitutes project compliance. It guarantees that the project is executed in accordance with the organisation’s policies and processes, as well as any applicable laws and regulations. Compliance is a Non-negotiable aspect of the project and must be prioritizes as mandtory Project compliance can involve various aspects; […]

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Negotiation

Negotiation is a process of communication between two or more parties with the aim of reaching a mutually beneficial agreement. it involves the exchange of ideas, perspectives, and offers, with the goal of reaching a satisfactory outcome for all parties involved. Regardless of which project management methodology you use, It is a critical skill for […]

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What is Business Value

Business Value is creating and delivering benefits that exceed the costs involved. Definitions Through the effective use of portfolio, program, and project management, organizations will possess the ability to employ reliable, established processes to meet strategic objectives and obtain greater business value from their project investments: Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition (PMI, […]

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Strategic Plan

The high-level business document referred to in this statement is commonly known as a “strategic plan.” It’s a formal document that outlines an organization’s long-term goals, objectives, and overall approach for achieving success. The art of formulating business strategies, implementing them, and evaluating their impact based on organizational objectives A strategic plan consists of At […]

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Project Performance Domains

The Project Performance Domains are a group of related activities that are critical for the effective delivery of project outcomes. Project performance domains are interactive, interrelated, and interdependent areas of focus that work in unison to achieve desired project outcomes. Project Performance domains are In conclusion, successful project management involves many different domains. Stakeholder engagement is important for […]

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ADKAR

ADKAR is a framework for change management that is designed to help individuals and organizations navigate change effectively. The acronym ADKAR stands for A – Awareness of the need for change D – Desire to support the change K – Knowledge of how to change A – Ability to implement new skills and behaviours R […]

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