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”

Project management for the construction industry is arguably one of the most intricate segments of project management ever. Whether you’re building a shopping mall or a residential building, there are countless elements and people in a construction project that must be accurately coordinated. CONTENT What is project management for the construction industry? What are the … Continue reading “Project management for the construction industry”

Some assignments are one-offs, whereas others require more planning and coordination – and that’s where the Kanban board steps in. CONTENT Kanban board: what is it? Kanban board anatomy Setting up a Kanban board: how to do it? A Kanban board can be either physical or digital Set up columns Why is a Kanban board … Continue reading “Kanban board: a quick and easy way to keep everything in check”

A customizable project management software makes project planning, execution and progress tracking a piece of cake. CONTENT What is a project management software? 1. Collaboration 2. Programming and planning 3. Resource management 4. Budget management 5. Documentation If you can implement a variety of features. For example, you can create a transparent record so that … Continue reading “A customizable project management software”

No project plan is complete without a project management timeline. CONTENT What is a project management timeline? Project management timeline advantages How to create a project management timeline Understand your project scope Split your project into milestones Estimate how long each activity will take Assign tasks to your team Choose project management software Track each … Continue reading “Project management timeline”

Resource allocation is a crucial step in project management. This is so important because, as is easy to realize, resources are limited by nature. CONTENT What is resource allocation in project management? The 7 steps for successful resource allocation in project management Resource allocation: Creating a Project Plan Resource allocation: Understanding resource requirements for activities … Continue reading “Resource allocation”