What is Agile Project Management? Agile project management has been defined as short cycles of product development that deliver incremental updates of the product rapidly based on the changing needs of the customer. This methodology is the opposite of waterfall project management, which values extensive planning and pre-production. The agile approach consists of a number of stages including rapid iterative planning and development cycles allowing a project team to constantly evaluate the project and obtain immediate feedback from users or stakeholders allowing the team to learn from their experiences after each cycle. After the streamlined planning requirements, definition and solution design phase is completed to get the project underway iterations or more detailed planning requirements are created. This allows for Continue reading
Project Management Concepts
Phases of Project Management Life Cycle
A project is a temporary endeavor undertaken to create a unique product or service. A project is temporary in that there is a defined start (the decision to proceed) and a defined end (the achievement of the goals and objectives). Ongoing business or maintenance operations are not projects. Energy conservation projects and process improvement efforts that result in better business processes or more efficient operations can be defined as projects. Projects usually include constraints and risks regarding cost, schedule or performance outcome. Project Management is the application of a collection of tools and techniques (such as the CPM and matrix organization) to direct the use of diverse resources toward the accomplishment of a unique, complex, one-time task within time, cost Continue reading
Project Risk Management
Risk can be defined as uncertainty of outcome, whether positive opportunity or negative impact. Some amount of risk-taking is inevitable, whatever the project. There has to be a deliberate acceptance of some degree of risk because the value to the business makes it worthwhile.  Project risk management includes the processes concerned about conducting risk management planning, identification, analysis (both qualitative and quantitative), responses, and monitoring and control on a project; most of these processes are updated throughout the project. Risk management in projects involves identifying and assessing the risks in terms of impact and probability, establishing and maintaining a joint risk register, agreed by the integrated project team, establishing procedures for actively managing and monitoring risks throughout the project and Continue reading
Project Management Basics
Project management is defined as process of initiating, planning, executing and delivery of a product with a group of a team to achieve a goal on time. In project management the main things to consider are start and end date of a project. For every project there will be a risk factor which should be taken care. Any project needs following four factors: Time, Budget, Quality and Feedback from the stakeholders. Also, project management is an important and significant contribution in delivering the business benefits through projects. It also has been seen that organizations these days are following a strategic way to achieve the goals of the project. Project management also plays a vital role in preparing a strategic plan Continue reading
Project Based Organizations (PBO)
In today’s turbulent market, a lot of organizations is still seeking for a strategic advantage over others and a lot of them has actually seek Project Based Organizations (PBO) as a way to propel them for greater height and thus, gain a strategic advantage over other companies. However, there are still questions how they can best make use of this new organization structure approach to create a synergy between company mission, strategy, and project as well as portfolio management. Project Based Organizations (PBO) refer to organizational forms that involve the creation of temporary systems for the performance of project tasks or activities. PBOs are gaining increased attention as an emerging organizational form, but there is very little knowledge on how Continue reading
Steps in Project Risk Management Process
Project risk management as simple as it may seem and less regarded by many is a key component for a better project plan, time management, cost estimation and project scheduling.  Project risk management is a term that encompasses and involves all processes concerned with identification, analyzing and response to project risk. It also consists of maximizing the results of likely positive events and minimization of the impacts of negative events.  An effective project execution is also achieved through inclusion of risk management at all stages of the project starting from the planning, to implementation and finally execution. Experts have stated that a proper and strong project risk management process can reduce project problems by as much as 75 – 90%, Continue reading