Risk Management is a process of identifying, assessing, controlling and prioritizing threats. Every business and organization faces the risk of unexpected, harmful events that can cost the company money or cause it to permanently close. Various sources for risk: Financial uncertainty Legal liabilities Strategic management errors Accidents Natural disasters Out Read more…
To understand what project planning is, we need to know the project management cycle. There are four phases in the cycle: initiation, planning, execution and closure. Planning phase stands second. Project Planning Phase Goal: Define project scope, timelines, costs, deliverables and schedules. Project planning is a highly disciplined activity and is Read more…
As the Astrodome sits abandoned in Houston next to its replacement, NRG Stadium (formerly Reliant Stadium), it’s easy to wonder how a structure once considered the “Eighth Wonder of the World” could have turned into a project management and city planning nightmare. In 1960, Houston was granted an expansion MLB Read more…
Just like Kerzner mentions in his book, Kerzner’s Project Management, conflicts are a way of life in a project. You cannot make a project without having at least one conflict, which normally is something to do either with the project’s objectives or with the team itself. Since there is no Read more…
Project Managers and Time Management Time. We all have the same amount of time in a day, a week and a year, but how we manage our time is what sets us apart. Some people have trouble with time management and other have their day planned out by the hour. Read more…
In this chapter, the book discusses a lot of concepts and issues that are associated with both the functional manager and the project manager. I wanted to go over and compare the two roles in terms of availability, responsibility and power. This will mostly be taken from section 5.12 but Read more…
Disney theme parks are known for being the “Happiest Place on Earth” or “The Most Magical Place on Earth” and all of it could not have been done without Walt Disney’s engineers and good project management. In the recent reading, there was a section that talked about a project life Read more…