Project Management

Selection of a project is important for the organizational success. There are a lot of things that have to be managed well. A weak selection of the project is followed by its weak implementation and hence a project failure.  There are some factors that affect the project and will guide a project to its completion.  There are five factors of project constraint that affect any project – scope, time, cost, risk and quality. Organizations encounters many problems, opportunities and the directives. Here, we explore three factors for selection of projects: Defining problem areas:  The projects are selected due to the

The Scrum Master is like a coach and a mentor, and look at the project from different angles. The project remains the responsibility of the product owner, who has the authority to take final decisions. Scrum master can help the Product Owner by sharing user experiences and feedbacks, challenges faced by them, functionality issues, and any need to realign the development to fit with changes outside the business. Can Scrum master act as a project manager? The scrum master is supposed to own the process. If you are the scrum master and doing the daily standup and are staying close to

The project closure process is the last of the process groups, and is considered important for the project’s success. All projects have a definite start and a specific end. A project closure process indicates the formal closing of a project, and lists the key activities required to be undertaken at this stage of a project. To calculate total expenditure a closing costs calculator is available to accurately determine the buyer’s closing costs. The project closure phase can use a lessons learned template, and a project closure report form to facilitate the project closing.There are only 2 Processes in Closing Process Group – Close

Project selection methods IV This article will cover the following project selection methods Break Even Analysis Working Capital Ratio Law of Diminishing return Make or Buy decision making Break Even Analysis An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. For example, if a business sells fewer than 300 garments each month, it will make a loss, if it sells more, it will be a profit. With this information, the business managers will then need to see if they expect to be able to make and sell 300 garments per month.

Project selection methods II This article will cover Benefits Measurement methods in detail. Benefit measurement methods include comparative methods, scoring models, and cash flow analysis. They are used as project selection tools to determine which project to proceed with or to determine which project among a list of projects should be undertaken. Cost – Benefit Analysis :Already covered Scoring Models Cash flow Analysis Technique Scoring Models Another project selection technique in the benefit measurement category is a scoring model, or weighted scoring model. Weighted scoring model is used not only to choose between projects but also to choose between competing