Value Delivery System is an all-inclusive approach through which projects accomplish business value. Corporate value is typically associated with tangible and intangible advantages received by users, employees and other business professionals. Projects are considered the key vehicle that delivers business value by reaching corporate objectives. The 7th Edition put forth an effective strategy for intended […]
The Standard of Project Management and PMBOK 7 (“The dawn of a new era!) (Download) The Seventh Edition is a whole new beast. We are really focusing not so much on the outputs like we have seen before. We are focusing more on the outcomes. By Cyndi Dionisio, member of PMBOK 7 team In PMBOK 7th […]
A principle is usually defined as a statement of: PMI’s guiding definition of a principle is: A statement that captures and summarizes a generally accepted objective for the practice of the disciplines and functions of portfolio, program, and project management. These 12 Project Management Principles include stewardship, teamwork, stakeholder engagement, value creation, systems thinking, leadership, tailored […]
The OSCAR coaching and mentoring model, developed by Karen Whittleworth and Andrew Gilbert, is a structured framework used for coaching and mentoring interactions. This helps in selecting a situational Leadership style. The acronym “OSCAR” stands for:
Leadership is when someone guides and influences a group of people to work together toward a common goal. However, there is no universal process that fits every situation like a magic potion. Adaptation is key when it comes to leadership styles in projects, ensuring they align with the specific needs of the project, the surrounding […]
The precedence diagramming method (PDM) or Activity on Node (AON) is the most commonly used method for arranging the project work visually. Within the PDM technique, tasks are depicted as nodes, outlining their logical relationships or dependencies. This visual representation elucidates the sequential logic guiding the order in which activities are intended to be executed. […]
The Requirements Traceability Matrix (RTM) is a document that links requirements throughout the validation process and project lifecyle. The purpose of the Requirements Traceability Matrix is to ensure that all requirements defined for a system are tested in the test protocols. It ensures that requirements approved in requirements documentation are delivered at the end of the project. Advantages of RTM Optional Items […]
Make-or-Buy Analysis is the process of gathering and organizing data about product requirements and analyzing them against available alternatives, including the purchase or internal manufacture of the product As part of the Procurement Management Plan, we do a Make-or-Buy Analysis which results in the Make-or-Buy Decision Make-or-buy analysis may use payback period, return on investment […]
A make-or-buy decision is an act of choosing between manufacturing a product in-house or purchasing it from an external supplier. A make-or-buy decision compares the costs and benefits associated with producing a necessary good or service internally to the costs and benefits involved in hiring an outside supplier for the resources in question. Strategic decisions […]
