How AI supports Project Steering Group

The project steering committee is main governing body within an enterprise that looks after the proposal and execution of projects. They ensure that the proper deliverables are met and the project is in line with key company goals. This includes approval of budget, defining standards and goals, devising project strategy, risk assessment, quality checks and adherence to time-line. The project steering committee is the body to which a project managers report to. The project manager attends meetings and informs the committee regarding the status of the project along with addressing doubts and concerns.

2018-04-30T12:04:08+00:00 30.4.2018|Tags: , , |

What Project Manager should Learn from Robots

With the rapid progress in AI, robotics and automation technologies, most jibs are being replaced by automated systems and robots. Be it a white collar job or a blue collar one, both are affected by the rise in automated technologies and machine learning. Growth in machine learning capabilities has allowed machines to become more independent by allowing them to react to real-time changes without being pre-programmed for such tasks. Also it doesn’t take long for them to analyze extremely large data sets and generate accurate reports. This has resulted in the disruption of current industrial practices.

2018-04-27T10:05:44+00:00 27.4.2018|Tags: , , |

7 Signals When to Terminate The Project

Planning for a project requires a lot of decisions to be made on intuition and experience. There are times when shortcomings in the planning phase lead to disruption during execution. There are times when targets of the project are not met. No matter how unfortunate it might seem, when one notices early signs of failure one should terminate the project immediately to prevent further loss of time and resources.

6 Characteristics of an Effective Project Management Officer

Project management officers are vital to any business as they can take important decisions that lead to great ideas. While good PMOs are hard to find, great ones are even rarer. However, all good PMOs share certain traits and characteristics that make them an effective and valuable part of the team. Here are six of the best traits you should cultivate to become an effective and profitable project management officer in your organization.

What Every Chief Officer need to know about Project Portfolio Management

According to the Project Management Institute, an increasing number of organizations are reporting added value with the appointment of a chief project officer. The chief project officer is someone who owns the responsibility of governing the internal projects of an organization. Some of the specific duties of such as officer include: Ensuring each project is supportive of business goals Driving linkages and efficiencies between projects Connecting every project to business strategy Making sure that each [...]

7 Key Reasons Why Agile Projects Fails

Agile is considered to be a repetitive method for executing software delivery. In the Agile approach, the aim is to develop software in small increments by taking into consideration important feedback from the environment. It is different from the conventional approaches, such as the Waterfall methodology because the complete solution is not delivered at once.

How Project Planning Benefit from Virtual Reality

Virtual reality is no longer limited to the gaming industry. It has found its application in several other verticals including manufacturing, construction, social networking and education and training. There has been a significant increase in ‘remote work’ in the last few years. Several companies have globalized workforces and spend over $1 trillion each year on their travel. Embracing Virtual Reality in Project Management Employees in virtual teams typically face communication challenges due to ‘no proximity’. [...]

2017-11-13T12:55:30+00:00 13.11.2017|Tags: , , |

When You Should Cancel a Failing Project

There are times when a manager can achieve the most by bailing out of a project. This does not mean quitting when the going happens to be a tad tougher. People who are productive rarely surrender sans a fight. There could be times, however, when the personnel hit a point where returns start diminishing every passing day. This is the time when further investment in resources could be waste of money. Even big companies flop [...]

2017-11-05T11:01:51+00:00 6.11.2017|Tags: , |

How Do You Ensure That Project Steering Group Understands Project Risks?

Risk management is a critical aspect of project management that involves identifying, evaluating and mitigating any potential pitfalls associated with the task at hand. To put it in simpler words, project risk management is all about assessing what risks or hazards might come along during the process of achieving a specified goal and devising ways and procedures of dealing with the inevitable. Lack of proper risk management can lead to a number of issues including [...]

7 Effective Success Bonus For Project Managers

The motivational requirements of those working in project set-up are usually different from those working as independent professionals in an organization. But both project managers and team members like to be offered incentives for their work throughout a project. Some of the key factors that help develop suitable bonuses for project managers include the following: 1. Output/Productivity Output or productivity based bonus schemes are primarily used in the manufacturing industry, e.g. production of cotton garments. [...]

How Successful Project Managers Handle Communication

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.