Business Management

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How to Create a Network Diagram

Creating a network diagram can be an involved process that begins after you've determined predecessors to your activity. Here's a simple example that can help you learn how network diagrams can be useful [more…]

How to Assess a Project Audience’s Power and Interest

In any project that you manage, your project audience will affect the project outcome. The audience’s impact on a project depends on the power it has to exercise and the interest it has in exercising that [more…]

How to Create a Work Breakdown Structure

Creating a work breakdown structure (WBS) helps you be both comprehensive and specific when managing a project: Thinking in detail is critical when planning your project, but you also need to consider [more…]

Create a Network Diagram of Your Work Plan

Planning and organizing is time well spent when managing a project. A network diagram is a flowchart that illustrates the order in which you plan to perform project activities. No matter how complex your [more…]

How to Read a Network Diagram

For the uninitiated project manager, reading a network diagram can be challenging. A network diagram helps you visualize all aspects of a project that you need to monitor. Reading a network diagram is [more…]

How to Choose Which Risks to Manage in a Project

All identified risks affect your project in some way if they occur (after all, that’s the definition of a risk). However, you may determine that anticipating and minimizing the negative consequences of [more…]

Estimating Required Work Effort

When managing a project, you need to determine how much work effort is required for a given task. Estimating work effort helps you staff your project properly. For all work packages, estimate the work [more…]

Accounting for Productivity and Efficiency in Work-Effort Estimates

As a project manager, you'll be accounting for productivity and efficiency with work-effort estimates. You know that being assigned to a project full time doesn’t mean a person can perform project work [more…]

How to Estimate Project Costs

In a world of limited funds, as a project manage you're constantly deciding how to get the most return for your investment. The more accurate your estimate of project cost is, the better able you will [more…]

How to Refine the Budget as a Project Progresses

As a project manager, you create an initial budget for your project. As your project continues you may find that your budget needs to be updated. To refine your budget as your project moves through its [more…]

Create a Project Budget Using the Top-Down Approach

There are two ways to create a budget for you project: bottom-up and top-down. You develop a top-down budget estimate by deciding how much you want the total project to cost and then dividing that total [more…]

Two Ways to Estimate Indirect Costs of a Project

Project managers can choose from two approaches when estimating the indirect costs associated with an activity: The first approach defines two different indirect rates; it’s more accurate but requires [more…]

Understanding and Managing Risk in Your Project

To manage projects effectively you need to be able to recognize and manage risk. Risk is the possibility that you may not achieve your product, schedule, or resource targets because something unexpected [more…]

How to Identify Risk Factors in Your Project

A risk factor is a situation that may give rise to one or more project risks. A risk factor itself doesn’t cause you to miss a product, schedule, or resource target. However, it increases the chances that [more…]

Identify Specific Risks Associated with Project Risk Factors

After you recognize your project’s risk factors, the next step in your project risk assessment is to identify the specific risks that may result from each of your risk factors. With this information in [more…]

Assessing the Likelihood of a Risk in Your Project

As you refine your project’s schedule, you need to assess the various risks that you have identified. Determining the likelihood of each risk will help you manage risk if the worst happens. The first step [more…]

Project Management: Key Players in a Matrix Environment

In a matrix environment, key players have critical roles in every project's success. Working in a matrix environment requires that the project manager deal with the styles, interests, and demands of more [more…]

How to Create and Maintain a Team Identity

Creating a team identity can help you manage your project. But often, the people you collect to work on your project don’t know one another. You can use the tips here to help your project participants [more…]

How Responsibility and Authority Affect Project-Team Roles

Each project-team member has a responsibility to reach specific goals; and a few members might assume some authority to help others achieve those goals. As a project manager, you have to assign people [more…]

Project Management: How to Decide What to Delegate

To be an effective project manager, you must learn to delegate — that is, get the help and support of your project’s team members. Knowing why you delegate helps you determine which tasks to turn over [more…]

Project Management: Tips for Delegating to Achieve Results

Project managers know that the purpose of delegating isn't to lighten anyone's workload; rather, it's to achieve results. Delegation always involves some risk because you have to live with the consequences [more…]

Holding People Accountable When They Don’t Report to You

Project managers sometimes face the problem of working with people who don't report to them administratively. If such a person falls through on a promise to get something done for your project, then holding [more…]

Understanding Accountability as a Management-Control Process

Accountability is a management-control process. Responding to a person’s actions lets the person know whether he’s on target or whether he needs to make a correction. Not responding to unacceptable performance [more…]

How to Develop a Responsibility Assignment Matrix

Project managers like to use a Responsibility Assignment Matrix (RAM) to define the roles of the various project team members. Despite the straightforward nature of the information included in the RAM, [more…]

How to Develop a Risk-Management Strategy

Managing risk is an important task for any project manager. After you have determined what risks exist for your project and assessed their importance, you need to choose a strategy for dealing with each [more…]

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