There’s one thing that all businesses have in common with project management: money. Without funding and the proper budgeting process, projects in any industry grind to a halt. Budgeting is how those funds are spent. But first, let’s define what…
Read More
An operating budget is a tool that helps business owners and project managers alike to look at the long-term financial needs of their organization or project. It’s instrumental in forecasting the budget needed to run your business or project. That…
Read More
People often think of productivity on an individual scale: how can I be more productive? But most of us work for organizations, and if the organization isn’t productive, then you can’t be productive either. Can there really be a magic…
Read More
Every company needs a plan to determine how it will operate and position itself in the market. This is known as a business plan, which is one of the most important business management documents. What Is a Business Plan? A…
Read More
As a business grows, it needs to look at new processes or ways to improve the processes it has in place. Maybe the company wants to scale and sustain its growth or increase productivity and efficiency. Whatever the objectives, process…
Read More
Strategic planning is key for success in business. By planning strategically for the future, a business can achieve its goals. It’s easier said than done, but the more you know about strategic planning, the better chance you have at succeeding….
Read More
Let’s face it, you want to execute your project well but you don’t want to spend a lot of money doing it. That, in a nutshell, is value engineering. It’s a way to look at your project, whether it’s project…
Read More
Businesses go through a lot. Managers must always be aware of the internal and external factors that can impact their business growth such as economic fluctuations, new competitors, new market trends and more. One of the most common threats to…
Read More
To stick to your project budget, you have to track costs. Project accounting, as with general accounting, is a method by which project managers can manage project finances. Project accounting is not the same as balancing your checkbook or even…
Read More
Most people think integrity means being honest. While this is true, the word has another meaning that’s important to project management: the state of being whole and undivided. In a sense, you could call organization design the approach to creating…
Read More
Well-run organizations don’t fly by the seat of their pants; they’re constantly working on business forecasting and business planning. Every decision and every process is based on data obtained from business forecasting, business intelligence tools, market research and scenario planning….
Read More
Today’s hyper-competitive world can be a tough place for many businesses. Large companies are always looking to produce better products while reducing costs, customers’ needs evolve and the world economy fluctuates at large. In a sentence, your business will face…
Read More
You’ve likely heard that nearly half of all new businesses fail. According to the Small Business Association (SBA), 50 percent of businesses fail during the first five years. Over a 10-year span, the percentage increases to 66. But what can…
Read More
