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, […]
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 […]
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. Each domain covers specific activities that project managers should perform. For example, under the stakeholder management domain, activities […]
Information radiators are visual displays of information that are designed to provide quick and easy access to key data and metrics. They are typically displayed in a prominent location, such as a central area in an office or a factory floor, where they can be easily seen by team members and other stakeholders “Information radiator” […]
Organization Project Management (OPM) Organizational Project Management (OPM) is the framework used to align projects, programs, and portfolio-managing procedures within the organizational context. OPM helps organizations through alignment with organization strategy, incorporating with corporate policy, delivering value and consistent development. Project Management and Organization Project Management Pillars of the OPM OPM “A strategy execution framework […]
Coaching, Mentoring, and Training are interrelated methods of professional development designed to assist individuals in achieving their personal and professional objectives. Coaching focuses on performance improvement, mentoring on career development, and training on imparting specific skills and information. All three approaches include offering structured and supportive direction and assistance to individuals. Coaching: Guiding individuals to […]
MBO stands for Management by Objectives, which is a management approach that involves setting specific, measurable goals for individual employees and departments, and then regularly evaluating progress towards those goals. The key idea behind MBO is to align the goals of the organization with the goals of individual employees so that everyone is working towards […]
Team development stages: Forming, Storming, Norming, Performing, Adjourning, known as Tuckman Ladder. Begins with polite caution, moves to conflict resolution leads to cooperation and effective collaboration and ends with disbanding and reflection. The Tuckman ladder is a paradigm that describes the five stages of group development: forming, storming, norming, performing, and adjourning. Forming cautious politeness […]
Corrective Action, Preventive Action, and Defect Repairs are all different terms used in quality management to address issues that arise during the production or delivery of goods or services. A Change Request is a formal proposal to modify a project, product, or system. It is used to request the approval and implementation of changes that […]
