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Distinguishing between data returned by Net Present Value (NPV) and Internal Rate of Return (IRR) (two project selection methods), when analyzing a project, is important because these methods can yield contradictory results. The resulting difference could be due to a difference in cash flow between the two projects. Net Present Value (NPV) and Internal Rate … Continue reading "Net Present Value (NPV) and Internal Rate of Return (IRR): Project selection methods"

As a project manager, possessing analytical skills for successful projects is the absolute core of required skills. Analytical thinking can help you explore complex problems, make decisions and find solutions. CONTENT What are analytical skills? The analytical thought process Why are analytical skills important? Analytical skills examples How to improve analytical skills So let’s take … Continue reading "Analytical skills for successful projects"

Business Analysis Body of Knowledge (BABOK ® Guide) is the ultimate guide to the business analysis art. Few analysts can really work without relying on it. The guide is described as “a globally recognized standard for the practice of business analysis,” written with the aim of defining the skills and knowledge that a seasoned professional … Continue reading "Business Analysis Body of Knowledge® (BABOK® Guide)"

Strategic thinking and its importance is what elevates a project manager to the next level. Project managers are definitely accountable for a project’s timely delivery, but it’s their skill in crafting a strategy that makes the difference. CONTENT Strategic thinking and how to strengthen it in the business scenario Shifting from tactical to strategic project … Continue reading "Strategic thinking and its relevance for a successful project manager"

Gap Analysis is one of the most powerful tools available to Project Managers and more. If used correctly, in fact, it can really help a company correct its course and avoid catastrophic mistakes. CONTENT What is a gap analysis? Benefits of performing a gap analysis Benefits of Gap Analysis: Product Portfolio Opportunities Benefits of Gap … Continue reading "Gap Analysis: what it is and how to perform it correctly"

What do you do when you have an important decision to make? Draw up a list of pros and cons? Flip a coin? Do you postpone hoping someone else will end up making the decision for you? CONTENT When should you use a decision matrix (and when not to)? What exactly is a decision matrix? … Continue reading "Decision matrix: how to make important decisions in a project"

A Statement of Work (aka S.O.W.), is one of the most important documents in project management as it outlines everything that must be part of a project. CONTENTS What is a Statement of Work? When is a SOW needed? When should the SOW be drafted? What is included in the Statement of Work? Project management … Continue reading "Statement of Work (S.O.W.): objectives and project work"

The Monte Carlo Method used in predicting project results is what we would like to discuss with you today. Let’s see what it is. Almost all project managers have experienced, at least once in their career, a missed deadline for a project. CONTENTS What is Monte Carlo method or simulation? Example of how the Monte … Continue reading "Monte Carlo method for project management"

Not everyone is familiar with the Six Sigma method and especially what it is for. We will try to break it down in this article. Digital transformation has become the buzzword of this decade. New technologies and tools are supporting the transformation path of large and small organizations that are competing for a larger share … Continue reading "Six sigma: what it is and what it’s for"

FMEA methodology was created to solve a primary need of every company. The Brand, the reputation and even the survival of a company pass through the quality of its products and the relationship with its customers. Nobody wants a defective product and defects are expensive, frustrating and harmful to the reputation of an organization. The … Continue reading "FMEA methodology"

We often hear a lot about the gig economy, but what is it really and how much can project management be involved? The work and commercial market scenario has changed dramatically in recent decades. We live in an age in which the economy rewards companies that interrupt and innovate the old ways of creating new … Continue reading "Gig economy in project management"

A project audit for a project manager is like a judgement day. That’s because work, time and money are at stake. CONTENTS What is a project audit? 1. Ensure the quality of products and services 2. Ensure the quality of project management 3. Identify the business risk 4. Improve project performance 5. Learn Audit policies … Continue reading "Project Audit: what it is and how to perform it"

Lean manufacturing, in Italian “lean production”, deals with one of the worst things that can happen to any organization: the wastes. Not taking full advantage of all resources means losing efficiency and, in the worst cases, even halting the production. These neglected resources cover everything from production project management tools to the skills of staff … Continue reading "Lean Manufacturing – what it is and how to manage it"

The RAM matrix is used by project managers to assign responsibilities or to identify the role of the various members of a project team. TABLE OF CONTENTS The RAM matrix 7 steps to complete the RAM matrix Responsibility assignment matrix and complex projects RAM Matrix: Graph Hierarchy RAM Matrix: Involvement and feedback RAM Matrix: Written … Continue reading "Assign responsibilities. The RAM matrix"

Analizing the quality and trying to improve it, is probably the main purpose behind improving business processes. This philosophy of process improvement comes from a very important person, William Edwards Deming, a statistician, often defined as a philosopher of science. TABLE OF CONTENT What is the Deming Cycle The phases of the Deming Cycle: Planning … Continue reading "The Deming Cycle (PDCA) and the constant improvement of quality"