Majorly encountered risks in a project are: Cost Risk Schedule Risk Performance Risk Resource Risk Technology Risk Market Risk Legal Risk Strategic Risk Governance Risk Operational Risk External Risk
Pareto Analysis is a statistical technique in decision-making. It is basically used for the selection of a limited number of tasks which can bring a significant overall effect. This principle follows the Pareto Principle (also known as the 80/20 rule) and states that 80% of the results come from 20% of the actions. It helps …
To handle an unhappy customer, you must: Show the customers that you value them Understand why they are not happy Figure out what modifications they want Try to incorporate the modifications if possible If not possible try to convince and explain to the customer that the project fits in with the agreed scope
It is a type of contract that is a hybrid contractual arrangement containing aspects of both cost-reimbursable and fixed-price contracts. Time and material contracts resemble the cost-reimbursable type arrangements where they have no definitive end. This contract is generally used in projects whose accurate project size can’t be estimated or when it is expected that …
What do you understand by time & material contract? Read More »
Type of communication you use in your project will completely depend on the type of project you are working on and the type of team you have. Types of communication styles that a project manager uses: Written Electronic Face-to-Face Responsive
Proactive Managers have higher chances of finding out the risks and implementing solutions in order to minimize them. Being proactive, lets them have more control over their project tasks and resources. They can keep a better track of all tasks and issues to work towards implementing small changes and improvements for higher productivity and efficiency. …
Why does a Project Manager need to be proactive? Read More »
Work breakdown structure defines the work activities that are required for the project completion and the sub-activities of each of those work requirement. It has a hierarchical structure in which concrete/ main activities are segregated into logical sub-activities. There are two approaches: Top-down approach Bottom-up approach
There are two ways in which you can calculate the three-point estimation: Triangular Distribution E = (P+M+O)/3 Beta or PERT Distribution E = (P+4M+O)/6 where P = pessimist, O = Optimist, M = most likely.
Developmental stages of the team generally consist of: Forming: In this stage, the entire group unites for the first time where the focus is to build relationships within the team and clarify the mission or vision of the project. Storming: In this stage, team members get more comfortable in sharing their opinions with the team …
Explain the entire team forming process you follow for your team. Read More »
Trust and agreement is a key factor that facilitates proper communication and coordination in a team. that brings ou the best outcome. To gain agreement from your team members you must: Keep your expectations clear from the very beginning Build achievable milestones so that they don’t feel pressured Collaborate and maintain team trust throughout the …
Being a project manager how will you gain your team agreement for results? Read More »
