Risk is the potential for loss of either time or assets. By this definition, there is risk in almost everything we do. Let’s say an individual in the market for their first home is taking a look at houses in their area. There’s a few things more than price that Read more…
If you look at the news, you will see that there is one aircraft being mentioned more than any other: the Boeing 737 MAX. The 737 MAX is the newest version of Boeing’s iconic 737. The new model promises increased range and improved fuel efficiency. However, the aircraft has been Read more…
What is Fast Fashion? Forever 21, H&M, and Fashion Nova are considered fast fashion brands. The goal of these companies is to make cheap, unsustainable pieces of clothing that is on trend. These garments are meant to last a season and be discarded quickly. Their goal is to capitalize on Read more…
Quality control is a key aspect of the manufacturing industry. As the history of quality control has progressed, manufacturers have worked to stay up-to-date with adaptive standards & regulations for product quality. Early Stages It can be argued that quality control began with the preliminary emergence of manufacturing during the Read more…
It’s not enough just to identify risks that could harm your project. Once you find a risk, you must analyze it and decide how you will respond. For example, if your data center is in the Midwest, it is a legitimate possibility that a tornado could sweep through the area Read more…
According to the Oxford Dictionary, risk management is defined as “The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact”. In other words, it is the practice of identifying potential risks in advance, analyzing them and taking precautionary steps to reduce Read more…
As students of project management, we tend to focus on the end goal(s): Run a project efficiently, ensure each team is accomplishing their tasks on time and in scope, maintain within scope/budget/timeline, and the list goes on. However, how are these actually quantified? How do we know if we are Read more…
Project Metrics How do we measure the success of a project? We use project metrics. Project metrics are a critical part of any project. Metrics give us a glance at the important data of the project. Project metrics have to be relevant to the project or else there is no Read more…
Metric is simply the system of measurement. When managing a project certain metrics are used specifically to meet the goals. Project metrics can be used to keep proper track of project status and better reporting. This makes easy to identify the areas where project requires more attention. Chapter 15 touches Read more…
Metrics are used to determine the success of a project and provide aid to project managers so that they can understand the overall project productivity, the project status and assess the quality of work. Some useful metrics for a project may be the productivity, cost, and the scope of work. Read more…