Measuring project performance is an expectation that any business effort comes with. CONTENT Why is it important to measure project performance? Celebrate successes Find areas where improvement can be made Make organizational decisions Metrics for measuring project performance Cost calculation Meeting deadlines Return on investment Earned Value Earnings before interest, taxes, depreciation, and amortization (EBITDA) … Continue reading “How to measure project performance”

What cannot be missing in a healthy project management is cost estimation, an essential element for the success of a project, although often unjustly neglected. CONTENT What is cost estimation in project management? 4 project cost estimation techniques 1. Analogous estimating 2. Parametric estimating 3. Bottom-up estimating 4. Three-points estimating A poorly conceived budget leads … Continue reading “Cost estimating in project management”

In project management, we constantly ask what allows us to create value for stakeholders, which involves considering tangible benefits. CONTENT What are tangible benefits? Tangible benefits management process Tangible benefits definition Benefit organization Tangible benefits implementation and monitoring Benefit evaluation How to evaluate tangible benefits Not all financial benefits are the same, so it is … Continue reading “Tangible benefits: What are they? Do you know them all?”

When we refer to intangible benefits, it does not mean that these are not real. CONTENT What is an intangible benefit? What are the intangible benefits? Why is it important to consider intangible benefits in a project? Never lose sight of the intangible benefits How do intangible benefits are measured? The peculiarity is that, unlike … Continue reading “What are the intangible benefits of a project?”

A quality project management app makes planning, executing, and monitoring project progress a piece of cake. By using the right software, you can create a transparent record so that everyone knows who is doing what and when and at what point in the project you are. Let’s take a look at what a project management … Continue reading “Project management app”

Risk analysis in project management becomes a very important aspect in the success of a project. Projects capitalize on resources and opportunities, and from these stem uncertainty, challenges, and risks; in fact, the thing that a project manager wants to deal with last is risk. Let’s define what risk analysis is in project management, why … Continue reading “Risk analysis in project management”

Which methodology between Waterfall vs. Agile to choose? Every project comes with its own set of unique challenges, and this one, specifically, occurs in every scenario. Now, more than ever, it is crucial to ensure that the development methodologies used by an organization are tailored to the specific circumstances. In fact, each option affects the … Continue reading “Waterfall vs Agile: Which methodology to choose for project management?”

A successful project must not only be on time, but also on your budget. In this article we will see how Twproject manages project costs. The overall cost of a project depends mainly on the scope of application; the list of items contributing to the total will be very different between a consultancy project, a … Continue reading “Project costs: everything under control”

Value Stream Mapping can be a powerful tool to help you determine how to improve supply chains that involve complex processes. CONTENT What is Value Stream Mapping (VSM)? How to achieve value stream mapping VSM can be leveraged to get a full picture and understanding of the entire process, or it can be targeted at … Continue reading “Value Stream Mapping: What it is used for, and how to properly implement it”

The goal of Lean Automation is to satisfy customers at the lowest cost possible. CONTENT What is Lean Automation? Benefits of Lean Automation for companies Lean Automation: Waste elimination Lean Automation: Internet of Things Lean Automation: Cost management Lean Automation: Improved security Lean Automation: Improved accuracy Lean Automation: Front and back office automation Lean Automation: … Continue reading “Lean Automation: What is it and how businesses benefit from it”

Lean accounting has grown in popularity in the first decade of the 21st century as an increasing number of companies have embraced lean production and lean processes. CONTENT What is lean accounting? How does lean accounting work? 1. Simplifying financial reporting 2. Tracking financial data that matters and removing waste 3. Understanding what creates the … Continue reading “Lean accounting: How to implement it for a successful management analysis”

Capital budgeting refers to the process a business follows to determine which long-term capital investments are worth investing in in relation to their potential returns. CONTENT What is capital budgeting? Why capital budgeting is important If a business is considering whether to undertake a large investment project, capital budgeting is the most efficient approach for … Continue reading “Capital budgeting: what it is and why it is important”