Overview The Schedule Performance Index, or SPI, provides insight into the accuracy of the predicted project schedule and is a measure of schedule efficiency. It’s one of many key metrics used in Project Management. The SPI formula is defined in A Guide to the Project Management Body of Knowledge (PMBOK® Guide) as follows: “The […]
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Rising costs, delays in manufacturing and supply chain issues are far too common in this post-pandemic world. Is it possible to save money as inflation rises in the economy of 2022 and beyond? The Principal Managing Director of Thurman Co, Angela Thurman was asked multiple questions about reducing costs and fighting off inflation in a
What is a supply chain? Most simply, it’s a sequence of events that helps a commodity move from manufacturing to market. Elements contained in a supply chain include people, equipment, transportation modes, and technology. Every industry that manufactures something has a supply chain. There was a time when supply chain execution always proceeded in a
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Continuous improvement is a philosophy by which organizations continually look for – and invest in – better ways to get their work done. This includes the evolution of their products and services, processes, procedures, workflows, and other aspects of day-to-day operations. With so many techniques and methodologies available, it makes sense for organizations to evaluate
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You may wonder whether project life cycle and product life cycle are the same process. Rest assured, they are two entirely different concepts. While management of both requires many of the same skills, it’s also critical to understand how to apply that skillset differently depending on the phase or stage of the process. Project Life
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Enterprise Resource Planning (ERP) systems integrate all business management functions within a single platform, providing the real-time capability of seeing what is happening within the organization. With a wide-ranging scope, careful and thoughtful implementation is key to success. As time progresses, the importance of ERP systems will only continue to grow. An ERP system
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Continuous improvement is a philosophy by which organizations continually look for – and invest in – better ways to get their work done. This includes the evolution of their products and services, processes, procedures, workflows, and other aspects of day-to-day operations. With so many techniques and methodologies available, it makes sense for organizations to evaluate
Comparison Of Several Continuous Process Improvement Techniques – Part 2 of a Series Read More »
What is the Internet of Things (IoT)? The Internet of Things (IoT) describes a set of technologies that allows the network of physical objects—“things”— to connect and exchange data with other physical objects over the Internet. These devices are embedded with sensors, software, and other technologies that get the job done. IoT devices range from
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Successful project managers integrate multiple skills and abilities to bring a project from concept to completion. When a project management position is your goal, developing these skills can positively impact your current work while helping you build for the future. Good communication skills allow project managers to share their vision, ideas, and goals. They must
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What is Contract Management? Contract Management involves creating and maintaining agreements with customers, vendors, partners, and employees. Beyond creating these agreements, management over the long-term includes modifying and gaining approval when necessary, sharing and archiving these contracts, and analyzing performance compared to contractual obligations. Formal contract management helps organizations save time, minimize cost, mitigate risk,
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