A Chief Financial Officer is a person who assists the organization with his financial expertise and takes charge of managing the monetary aspects of the company. The duties assigned to a Chief Financial Officer sometimes go beyond just finance and also treads into overall company management. Project management is an integral part of developing and delivering strategic initiatives, as it creates a structure for ensuring that the company’s goals are met appropriately.
Any project relies heavily on the communication between all parties involved. This means that the more effective and timely important information is transferred, the higher the chances are that the project will be a major success.
There is a difference between ‘good’ communication and ‘effective’ communication and it is critical for project managers to understand this difference. According to a recent industry report, the most vital factor driving project management success is effective communication with the team and stakeholders. Further, effective communication could result in greater success in projects thereby allowing companies to achieve higher standards of performance.
The Scrum Master is typically seen as a team coach and a kind of process owner in a project. Scrum masters work to create a balance between the key stakeholder demands in a project and guide the team to deliver the best performance possible. A scrum master’s responsibilities generally involve removal of barriers to progress, scheduling, facilitating meetings and handling product backlog among others. Though scrum masters are pretty adept at what they do, there [...]
The success of any project depends on how it is managed at the top level. Having the best tools and technologies is of no use if the project manager is incapable of handling the project. Project managers are responsible for creating a workable atmosphere among their stakeholders, superiors, peers, and subordinates. There are certain bad habits that you should refrain from cultivating if you want to be a successful project manager. Never being available – [...]
Good project communication leads to excellent decisions and wonderful ideas. It is easy to communicate effectively if you know how. It is to be remembered that an honest communication of project ideas conveys higher integrity. Honesty and integrity are major components of any great project communication. 1. Be consistent Better project management officers consistently and repeatedly use the same practices all through the organization. Making every project a success involves all projects to be regarded [...]
Project managers and sponsors work hand in hand on projects. Project managers do not get to choose the sponsor that they want to work with. Typically, a sponsor is already in place, before a project is assigned to a manager. If your sponsor does not understand the roles that he/she need to fulfill, then you should be be bringing up the same with them, else you may be held responsible in case the project falls [...]
From advocating a project to minimizing risks, a project sponsor is as important as a project manager in spearheading a project in the right direction. Given the limited time-frames and resources at hand, and quality constraints a project sponsor can make sure that the deadlines and expectations are met. They can make all the difference between a success and a failure. Let's take a look at how you can go from just another project sponsor [...]
Project Steering group meetings are important for the creation of decisions. Steering groups can be a part of a larger project governing body which includes other meeting groups as well. Steering group or committee A steering group or a committee is an important part of the project structure with which effective project governance can be achieved. Usually steering committees are formed to make strategic decisions for any project, especially for its long term aspects such [...]
Every project has an equal chance of failure or success. Which way it goes depends on a variety of factors and aspects. Employees, processes and leadership can all have a very big influence on how a project shapes up. When a project succeeds, it is important to evaluate why it worked, so you can replicate the success for later projects. In the same way, it is important to evaluate failed projects to understand what went [...]
The efficiency of project portfolio management increases manifold when there is a dedicated project management office to oversee it. Most businesses know that for a fact. What many do not know are the hidden benefits of having a PMO in the organization. Here are 5 things that a dedicated project management office can offer to a business. PMO does more than management If you think that the project management office's role is all about policing [...]
Successful project management is the result of using the right kind of resources and strategies. At the same time, success or failure of a project depends heavily on the abilities of the project manager. Project management is not rocket science. But it still needs the manager to have certain abilities and qualities that make the process of managing and leading the team towards success. Here are the five basic skills that every project manager should [...]
Communication within a project can spell success or failure depending on the way stakeholders interact with each other and share relevant information at the required time. Though all team members working on a project may continue to interact with each other on a daily basis via email, status reports and inter office messaging service, pressure of work schedules sometimes may lead to missing important information. To keep project on track, project managers should have good [...]
A project manager’s office or PMO is the focus of all activities that are being carried out in an organization. A project management team has to plan, track, manage and report progress of work being carried out within an organization. Team managers and coordinators have to coordinate with their team members and project office about requirements and expectations to ensure that work is done as per client expectations and instructions are not misunderstood. An effective [...]
Social media has long ceased to be a domain of private individuals keen on maintaining long distance relationship with friends and family by posting details about their whereabouts and latest happenings in life. In corporate world it has become a handy tool for managers to address team communication problems and broadcast information about changes in policies also interacting with clients. In current global business scenario wherein teams are spread across the globe and are working [...]