Every job or role has surrounding myths that have been perpetuated over the years. Several reasons contribute to why myths and misunderstandings about Project Management continue to exist: Let’s address some of these myths to ensure that Project Management is appropriately understood and used to maximize project success. Myth #1: Project Management is only for […]
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The Critical Path Method (CPM) is a project modeling and scheduling technique for large or complex projects. The method gets its name from identifying the critical path: the longest stretch of tasks with interrelated dependencies. Simply put, the critical path is the sequence of related tasks that take the longest time to complete. Benefits of
Why understanding your customer is so important in determining the critical path Read More »
Contract Management is critical in helping organizations ensure that contracts are executed effectively and efficiently and that the contractual obligations of all parties are consistently upheld. While many can understand the rudimentary basics of contract implementation, a comprehensive Contract Management system with well-documented processes and procedures can go a long way toward improving company performance
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Overview Agile project management takes the form of an iterative approach to managing projects, emphasizing continuous improvement, flexibility, and collaboration. While the Agile framework was initially developed for software development projects, it has been successfully applied to various industries and functions, including manufacturing and marketing. It was developed in the 1990s as a response to
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The Project Management Institute (PMI) is a nonprofit organization for project management professionals with members worldwide. Founded in 1969, it has grown to become the world’s leading association for project management. The PMI has over 3 million members and has issued its respected credentials to members in over 185 countries. In 1969, months of conversation
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The Cost Performance Index, or CPI, provides insight into the accuracy of the predicted project cost and is a measure of cost efficiency. In basic terms, the CPI shows how well the project is sticking to the planned budget. It’s one of many key metrics used in Project Management. The CPI formula is defined in
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Green supply chain management – GSCM – integrates environmentally sustainable practices throughout the supply chain. It includes the design, production, delivery, and disposal of goods. “Green” is a common term for eco-friendly strategies and initiatives to minimize adverse environmental impacts. Both production and distribution of goods cover many activities leading to these potential negative impacts,
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The critical path method (CPM) is a project modeling and scheduling technique for large or complex projects. It was developed in the 1950s by analysts at DuPont and Remington Rand, influenced by work on the Manhattan Project (WW II research effort resulting in the introduction of nuclear weapons). A core benefit of CPM is that
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Industry 4.0 concepts and technologies can be applied across all types of industrial companies, including discrete and process manufacturing, as well as oil and gas, mining, and other industrial segments. Historical Context Let’s start with a bit of history to put it in perspective. First industrial revolution The first industrial revolution began in the late
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Communication between buyers and suppliers is critical to ensuring high-functioning and transparent relationships. A Supplier Performance Scorecard is a convenient tool allowing suppliers and buyers to regularly monitor their relationships through metrics. By establishing a scorecard, the supplier and the customer have a consistent means to measure and evaluate the supplier’s performance. This facilitates documenting
What metrics are used to measure suppliers? Read More »
