What is project management methodology

project management

What is project management?

A project is a temporary endeavor which has a definite beginning and end, that is carefully planned and divided into several phrases to give a unique output. Project management is simply managing the project and the time period of the ongoing project. There are several phases of project management. Initiating, planning, executing, monitoring and control process and closing are the phases include in the project management. A collection of all these steps is also called the project life cycle.  Why do we need project management? Because only one-fourth of projects are only successfully developed and entitled to the market.  And more than thirty-one percent of IT based projects are being canceled before completion. And also mainly those projects which select to get into the market have only forty-two percent of the original features in the end product.

Project management methodologies

There are six most popular project management methodologies used in the field.

Waterfall method is the simplest and the direct method so far. There are five main stages. Requirement analysis, design, development, testing, and maintenance are the order of the stages. One step should be reached after finishing the above stage. This should have a flow. Just like the waterfall.

The second methodology is agile. This approach allows team decisions, continuous planning, and integration. Next is the adaptive methodology. In this project management methodology project scope is a variable. This has only three things to be looked into. The concept, try and evaluate are the three stages. Another popular project management methodology is the scrum. This is an iterative methodology. This is suitable for small projects which required quick feedbacks and rapid responses to change. Next is the lean methodology. This project management methodology mainly focuses on delivering more value in a less waste in the environment. Finally, the sixth popular project management methodology is kanban. In this, everything is done in an order. Mainly to minimize the wastage and the time spent.

In spite of these project management methodologies, there are various kinds of methodologies which perfectly fit into your project. By following these you can easily management the project of yours and can lead towards the success.

Project management skill

The project manager is the main person of the project management who manages everything related to the project. He needs special skills to go through this project management process. Leadership is needed to guide and get along with the project team. He needs to have a clear vision to lead the team. And also communication skills hold a greater part. Management is all about managing the whole scenario and the crew. Communication is a must in order to handle the project within the given time. Project management also needs information technology for the tactics. Using project management based tools really helps to organize the whole project and keep the thing up to date. So a little skill in it is also essential.  Accounting is also needed. Purchasing skills and problem-solving skills are also necessary to get along with the project management done correctly.

In project management, you need to see the whole scenario at once. Not one by one like other management processes. Project management needs the ability to look into the project and see the whole process at once until the end. That skill will make your project management much easier and successful. So you have to keep an eye on the end goal.

Managing crisis is also an essential skill because no project is perfect. You should have all the above-mentioned skills and the abilities to apply here in order to win this.  You should need to keep the team together, take the responsibility identify the faults and the high points at a glance and should be able to handle it very sensitively and quickly. Because project management does not exists for a long period. We should be able to take and use the best out of the short time that we have given. That’s what project management is all about.

Project management process

From the start of the project until the end whether it became succeed or not it goes through the project management process , what runs inside as the project management process steps matters towards the project’s success. PMBOK is the main element which will lead you to the project success. PMBOK defines the project management processes that would help you to maintain the effect and to manage the smooth floor for the success. There are forty-seven processors defined in PMBOK. Depending on their purpose and interactions these processes are categorized into process groups. Two processes will help you in the initiating stage.  There are twenty-four processes which will help you to organize and to prepare in the planning stage. Also, eight processes can help you to carry out working in the executing stage and finally two processes are present in the project closure.

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Human Resource Management Definition

Human resource management definition

Introduction what is human resource management

In a company when they simply have a vacancy the top managerial board request a specialist to find the most suitable person for the position. The human resource manager is the specialist who does this job. Recruitment is a first stage of the human resource management.  And also this is a vital link in the company and the role structure. Making sure that the people match with company`s purpose is also a responsibility of the human resource management. And there are much more responsibilities of this human resource management department in the company. They provide expert advice to the managers about how they can improve their team’s performance. And suggest training options optimize staff potentials. Human resource management also looks for the safety need of the staff and also acts as intermediaries. And also human resource management makes sure the main resource which is the office staff and the customers are satisfied with the services.  They make sure the office crew gets paid properly according to the workload was given. Mainly human resource management always protects and takes care of the human resource of the company.

Human resource development

Human resource development is about personal development, professional development, performance administration and organization development within the company. Personal development mainly means developing the human resource`s interpersonal abilities and skills, to make them corporate with the inside and the outside environment and to do their work more efficiently. Professional development is developing the office staff’s career and makes them proficient in their job. It is also a main part of the human resource development. Performance administration is all about dividing and administration between the performance and the connection with the human within the company. This involves both office co-workers and the customers. And finally, another part of the human resource development is organization development. Developing the abilities and skills of the co-workers and the management of the organization, developing the higher possibilities and identifying them under organization development.

Human resource planning

Human resource planning is to identify the correct person at the right time for the most suitable job title according to the skills and abilities which are expected at a minimal cost and time.  There are main objectives of human resource planning. These should ensure the optimal usage of the human resources and also should be more consider about the organization’s future assets and requirements. Recruitment, management, and organization of the human resources are also a major part of the planning. Cost controlling and formulation of policies is also should be done in the human resource planning.  The main reasons to have human resource planning in the organization is to cope with the inside changes, to provide various skills and abilities to the organization and for the protection of weaker parts in the organization when it is dealing with the society.

Personnel management

Personnel management is developing and encouraging the skills and use of those skills in the people who is employed in the organization in order to achieve the organization’s goals and individual potentials.  Formulating, proposing and gaining acceptance by personnel policies are the prime responsibility of the personnel management.  In a new job, recruitment personnel management is used to identify the potentials of each individual so that the organization can use those skills and develop them for the business success.

Human resource planning process

There are five necessary steps when panning the human resource in the organization.  Step one is to determine the organization’s goals. Step two is all about understanding and identifying the business environment. Gap analysis is the third necessary step. Step four is to set human resource priorities to help in achieving the organization or the department goals.  The final step is to evaluate and report the progress and consider to change or to go through the same process again which was conducted in the human resource planning.

Video books

SAP Human Resources (HR) for Beginners
Human Resources Management Training
Restaurant Management – Human Resources Best Practices
Hiring Smart: Human Resources Management For Beginners
Manage Project Human Resources BSBPMG515

What’s an entrepreneur

What's an entrepreneur

What is Entrepreneurship?

An entrepreneur is a person who is willing to start a business risking his wealth for the purpose of make money. Basically, entrepreneurship is the way which an entrepreneur follows. There are four blocks of entrepreneurship. Block one is marketing.  Marketing means how you make the connection with the customer. In order to make the connections, the explanation and the appearance mean most. The second block in entrepreneurship is planning. You need to get a clear idea about the organization and then set goals and a clear completion. Third is the business plan. This involves goals, setting a vision, budget, outlook and the overview. And block four is the business. This means searching of the entrepreneur’s main intention of the business, the products and services, the price, the people, the production. So in the entrepreneurship, the entrepreneur should consider all these blocks before he gets into the correct path.

Social Entrepreneurship

Today with social and economic growing worldwide, billions of people are connected by the idea that it is possible to do business on a human scale. That it is possible to make money and do something good to the community. This idea is called as social entrepreneurship. Social entrepreneurship is a new and creative approach to business, social engagement, and social services.   Social entrepreneurship is also a good way for civil society organization. The one to reduce the dependency of donor systems and engrain greater financial and operational freedom.  Starting a social entrepreneurship is a challenge for all those who profit, is not the only goal. Who wants a job that makes sense and has a purpose social entrepreneurship path is the best choice.

Entrepreneurial Skills

There are seven key entrepreneurial skills for business success. The first is interpersonal skills. This is about dealing and treating people in a good and a professional manner. The second key skill is the self-confidence. Confidence develops your vital skills and makes you an expert. Financial skill is the third key entrepreneurial skill. Business is all about handling dollars and bills. You should know the financial environment of your business which makes you get into a higher position in the field.  The fourth is the technical skill. Without the technical skill of your business and the position, your business is more likely to go to a different path. In order to perform the best of your ability in spite of all technical skill is essential for the business success.  Fifth entrepreneurial skill is the communication skill. A good communication among the customer and inside the business will lead you to a better position. It will reduce errors and mistakes because of the level of high understanding. Sixth is marketing skills. Entrepreneurship is all about handling a business and making money. To make money you have to market your products and services. You should develop special and tricky marketing skills which attract the customers to you. Seventh and the final entrepreneurial skill is the technological skill. We are heading toward a technological world and everything depends on technology. The more you have this skill the more you head towards. This saves your time and your business matches with the future.

Entrepreneurship Development

There are so many advantages of entrepreneurship. The excitement, originality, competition, salary potentials, independence, flexibility are some of them. And to be an entrepreneur he or she should have special management skills, high achievement ability, decision-making skill and self-motivation ability. These can be recognized as the nature and development of entrepreneurship. In order to develop the entrepreneurship, you should follow the entrepreneurial skills for business success and the blocks of entrepreneurship development which were mentioned above.

Corporate Entrepreneurship

Organizations who want to stay in a better position than they are today always use the corporate entrepreneurship in the part of their system. This corporate entrepreneurship helps to complete and provides the ability and the surroundings for it. Corporate entrepreneurship basically means cooperating with assets of your business. This involves all the employees and resources. The bond between inside and outside the business environment and the correct corporation will lead to the perfect path. Corporate entrepreneurship allows the individual to build the inside of the business and the infrastructure and lead to the business success.

Video books

The Essential Guide to Entrepreneurship by Guy Kawasaki
Entrepreneurship with Purpose by Tony Gaskins
Entrepreneurship: Start a Business in 8 Steps
MBA in Entrepreneurship: How to Start a Profitable Business
Entrepreneurship: How To Start Your Own Business – FAQ & A
Entrepreneurship 101: Start & Grow a Business from Scratch
Entrepreneurs How to Pick the Right Startup Business in 2016

Meaning and definition of management

Meaning and definition of management

What is management?

Management is an activity. When it is related to an organization inside it, management can be defined as a set of activities aimed to achieve the organization goals with the help of organization resources using in an effective manner. Early management theories focused on controlling workers. Management was conceived during the industrial revolution when factories necessitate organizing the work with large group of people.

The manager is the person in the organization who has the ability to manage the work with all the recourses and direct the co-workers in order to achieve the origination goals.

A manager needs good management skills. The key skills can be divided into three categories. They are management performance, managing people and managing the organization. The manager should have these key management skills because they have specific competencies.

Effective management

An effective or a good management is the use of key skills and practices directly applied to the right time to help the organization reached to its highest potential. Early ages the coworkers were forced and punished in order to get the job done and to achieve the goals sooner. But we have come to a modern world where the co-workers should be treated properly and the management should be done effectively. A good manager should have skills for an effective management.

There are four most popular effective management tips in the society. Number one, the manager or the management unit should get to know about the co-workers and should be able to like them. In order to get the job done and for an effective management you should know people and should be able to work with them. Because you have to organize, coordinate, train and direct them to the right path. Before all these, you should understand and get to know what their potentials are. Number two is you should have a good communication skill for an effective management. The ability of their understanding level should match with your communication level. It will be much easier for you to get the job done and for an effective management within the organization. The tip number one will also guide the tip two. Number three is you should have the ability to build coworker`s morale. Rewarding and recognizing them will do a higher portion but you need to have the ability to make them follow your guidance. In order for them to follow you, you need to invest in your own development.  And that will be the tip four for an effective management for the organization.

Strategic management

There is no proper way of defining or a model for the strategic planning in an organization but however, it is a process or a plan in order to achieve the organization’s overall long term goals. This strategic management should include a situational analysis all the time. this is about understanding the organization’s internal, external and current environment and behavior. This process takes around three to five year. But if the organization environment is highly dynamic it is necessary to go for a shorter period of time for the strategic management. As the analyzing, the current state was the first step for the strategic management the second step should be defining the future state. The mission statement is the main point. Determination of objectives and strategies can be followed after that. These objectives should be directly pointed in order to achieve the organization’s long-term goals. Implementation and evaluation are the final necessary step in the strategic management.

Management skills and development

In order to manage the organization effectively, the manager should have management skills and should develop and improved further. The skill triangle is an easier model which describes three aspects of a great manager who has the proper management skills. The three aspects are technical skill, critical thinking skill, and the people skill.

Having the technical skill is the main point. Without the technical it skill is much harder to become a good manager because the co-workers will not guide the lead of a less knowledgeable person than them. Critical thinking skill is essential because all the decisions you make will affect in each step and you should have the ability of thinking further and get the right decision at the right time. And the most important skill is the people skill. You should have the ability to work with people communicate the, lead them to direct them, train them, make them do the work without any hesitate. And all the above skills should be included in a manager and those management skills should be performed well and develop to make the organization a well-managed unit.

Recommended books.

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Introduction to Management.
Introduction to Management(2)
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Best books on business strategy

business strategy

What is the business strategy?

The strategy is a word that is mentioned a lot and connected with the business. There is no clear definition for the business strategy because everyone has their clear opinion about it. Basically, business strategy means identifying the necessary steps to achieve the business final goal or the objective. Before developing the business strategy to your company there is one good way to look at it. “What do we need to do to win, on market?” this is the key question you need to look at when you are developing the business strategy. This question also demonstrates developing a strategy doesn’t only involve analyzing one thing. It involves understanding the business world and the environment in details and mapping the best and the possible route to the success.

Business strategy development needs to happen on three levels. Corporate strategy, Business unit strategy, and the team strategy are those 3 levels.

Corporate strategy

For organizations with many different business units, corporate strategy determines how the organizations as a whole support and enhances the value of the business unit within it. The main units which help to determine the corporate level strategy are the financial performance, human resource management and the strategic decisions which also affect the organization.

Corporate strategy concerns about two main parts. First is to clearly know what is required to win. And the second is to drive that notion of winning deep into the objectives of the organization. Basically for the aim or achieving the organization goal, corporation all the business units together and making through the success is the main idea of the corporate strategy.

Corporate strategic planning

On order to achieve the organization goal, the corporate strategy should also be planned well because it holds a main processing part in the unit. Corporate strategic planning is all about undertaking a plan to develop for achieving the organization’s overall long term goals.

There is no defined way to create the corporate strategic planning but it should include a situational analysis which is an essential step. This means the organization environment. Not only internal but also external, current and future existence. This corporate strategic planning process may cover three to five years ahead. This planning can divide into three steps. They are defining the corporate strategy, choosing the direction and developing the plan using the analysis.

Developing business strategies

There are mainly five components in developing a business strategically. This should be according to a plan. Component one is about the executive summary. Goals priorities missions come under this section. Before developing the business strategies we should consider these.  Secondly is about strategic goals and tactics. This means a carefully observed and created a plan and the hidden points in order to achieve the goal.  Third can be categorized ad SWOT and industry analysis.  The fourth is about financial and organizational structuring. The fifth step is all about the expected results and measurements of success. If the developing plan has been worked out well you will be able to achieve the objectives successfully. If not this step is to recreate and go through in developing the business strategy plan again. So in developing business strategies planning hold an essential place.

Business objectives

What can be defined as business objectives? Basically, the core aims which based you on creating the organization.  Mainly business objectives can be emphasized into different categories.

Profitability, productivity, customer service, growth, core values, employee retention, marketing etc. the business objectives varies from the type of the business you are following.  And also these can be categorized as qualitative and quantitative business objectives. In each business both should be partially included. These business objectives are the main reason which helps the business to last longer and to gain a remarkable place in the economy.

Recommended books

Video books

Periscope 101 Profits: Business Strategies Pro Course
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