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Monitoring and Control - Performance Metrics

 Performance metrics are a kind of quantitative measures that are employed to assess the effectiveness, efficiency and results of a system, process or even an individual. They assist organizations to determine their progress in the attainment of particular goals, possible areas of development and decision making. Some of the most common performance measures that can be employed in various settings are listed below: 1. Organizational and Business Metrics. They are applied to measure the general performance and health of a business or an organization. • Revenue Growth: This is used to measure the growth of revenue generated by a company within a given time. Profit Margin: This is the percentage of the revenue which is more than the costs of production. It is the profitability of a company. • Customer Retention Rate: The rate which shows the percentage of customers that remain in business with the company despite the period. • Customer Acquisition Cost (CAC): The costs of acquisition ...
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Stakeholder Engagement

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 Engagement of the stakeholders is an essential aspect of the project management. It entails determining, recognizing, and ascertaining the expectations, interests and influence of individuals groups or organizations that may be affected by or may affect the project. How effective stakeholder engagement is that the needs and issues of stakeholders are considered throughout the project lifecycle thereby resulting in easier execution, improved decision-making, and increased chances of project success. This is a summary of stakeholder engagement, its main steps, strategies, tools, and best practices to keep the communication levels and relationship management effective throughout the project.                                                                                     1. ...
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Quality Control and Assurance

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 Quality Control (QC) and Quality Assurance (QA) are two essential points of project management, especially when it comes to the provision of products or services to customer satisfaction or more than that. Although both are set to accomplish high-quality output, they are different in that they are different in approach and focus. This is a brief discussion of quality control and quality assurance, the difference between the two, and the best method to use them in your project.                                                                          1. Quality Assurance (QA) Quality Assurance is a proactive activity intended to achieve the quality management system is effective and the quality is taken into account in the project initially. QA is intended to avoid defects by setting up processes, pro...
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Time Management Techniques

 Successful project management is based on effective time management. Being a project manager, there is always a risk of getting lost in the variety of tasks, deadlines, and coordination of the work of the team. Nevertheless, it is possible to plan your time properly, keep the project within the timeframe, and avoid burnout, with the assistance of the appropriate time management methods. Some of the proven time management tips you can adopt to achieve better productivity and ensure that you achieve your project objectives effectively are listed below. 1. Eisenhower Matrix (Urgent-Important Matrix). The Eisenhower Matrix is a very basic but the most effective way to rank tasks in terms of urgency and importance. It makes you know what has to be done right now, what can be planned, what can be outsourced and what can be completely done away with. How it Works: Quadrant I (Urgent and Important): The tasks, which are urgent and critical to the project. These are to be done instantly. •...
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Implementing the Project Plan

 The project plan implementation is a significant stage of project management when the plans, activities, and resources identified in the planning stage of project management are implemented. Effective implementation can also make sure that the project undergoes as planned, achieves its goals, and provides the intended outcomes. This step involves a well-disciplined strategy, effective leadership, and communication. These are the steps to follow in order to implement your project plan successfully: 1. Kick-off Meeting The kick-off meeting is the commencement of the project and it is used to set the mood of the rest of the project lifecycle. It is critical in getting everybody to the same page in terms of expectations and objectives of the project including clearing up on the roles and responsibilities. Objectives: • Present major team members and stakeholders. • Look over the project objectives, scope, deliverables and timeline. • Communication and reporting expectations. • Discuss...
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Conflict Resolution Strategies

 Conflict is essential in any project and more so in a team setting where personalities, opinions and working styles vary. Conflict management is essential as a project manager in order to have a harmonious and productive team. Listed below are some of the conflict resolution strategies that can be used to address and resolve the conflict in a manner that will be beneficial to the project and does not disrupt the dynamics of the team. 1)Win-Win (collaborative) Strategy. This approach aims at seeking a solution that can please everyone involved so that cooperation is enhanced instead of rivalry. It is commonly called a win-win approach. How it Works: • The parties work together in order to find out the root causes of the conflict. A solution is formulated that takes into consideration the needs and concerns of all the people so that no one feels that he or she is excluded. The process focuses on problem-solving, active listening and open communication. When to Use: • When there is a...
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Communication Models

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 Project management requires effective communication to make sure that all the individuals involved in the project are in sync, aware, and working in the same direction. To enable this, some communication models can assist in structuring and streamlining the interaction between team members, stakeholders, and project leaders. Some of the major communication models applied in the management of projects are as follows:                                                                              1)Shannon-Weaver Communication Model. It is among the simplest and the most fundamental communication models. It was initially developed to explain the flow of information in technical and telecommunication systems but it can be used in human communication as well. Components: Receiver: The person who ...
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