Blogs and Tools
The common features of project management software are: Data entry features This feature used to manage the following things Project data and calendar Human resources Human resources available Cost of materials Activity identifier Activity description Precedence relationship Data entry error Graphics One of the important features of PM software is its ability to […]
The following are Differences between PERT and CPM (PERT vs CPM): PERT CPM It is an event-oriented network as in the analysis of a network, emphasis is given on the important stages of completion of a task rather than the activities required to be performed to reach a particular event or task. PERT is […]
Herbert Simon, the Nobel Prize winning researcher, showed that humans went through three essential stages in the act of problem solving. He called these the Intelligence, Design, and Choice stages. Decision making can also be considered as a type of problem solving. In the first stage, that of intelligence, they collect information about the issue […]
The following are the guidelines for the effective report writing Clear report mandate: While writing the research problem statement and study background, the writer needs to be absolutely clear in terms of why and how the problem was formulated. Clearly designed methodology: Any research study has its unique orientation and scope and thus […]
Project organisation is one of the most crucial parts of project planning. It is a structure that is designed for the successful execution of a project. It provides a complete framework for a project and ensures that the project is arranged in a manageable structure. In project organisation, the complexity of a project is structured […]
Project management has a number of advantages. It allows the following: Aligns the project with the strategic goals of the organization Reduces the project cost by effective planning and management of resources Focuses on performance of the workforce by providing them training Increases the project success ratio Ensures that the pre-stated objectives are achieved […]
The following are phases of project life cycle Initiation This is the first phase of project life cycle. In this stage, a project charter, which is also called the project statement, is defined. This statement provides the project idea, outlines the project objectives, identifies the project manager and stakeholders, and defines the role and […]
Road and dam construction projects may not generate high returns, but have a social impact. In CBA, the total cost and expected returns of a project are estimated in monetary terms. The CBA approach involves the estimation of cost incurred on raw materials, labour, rents and acquiring land. It does not consider the environmental aspect […]
The purpose of project evaluation is to measure the “success” of a project. Accordingly, projects are evaluated on the basis of the indicators of success or failure such as profitability, competency, efficiency and future prospect. The success of a project has been defined by different researchers through some models. One of such models was proposed […]
The importance of operational feasibility is highlighted in the following points. Helps in assessing the capability of the project in fulfilling the desired organizational goal Helps in analyzing and tackling any resistance from management, team, and individuals Helps in evaluating the probable impact of the project on the environment Assists in proper implementation of […]