October 2016: How to evaluate benefits of a project? Cost-benefit analysis is on the key techniques widely used for weighing the potential of a certain initiative under consideration for evaluation and selection purposes, as well as in making the business case of a project. While costs are more straightforward and usually clear and tangible, benefits are a bit more tricky. Not all benefits are direct financial revenue, benefits can be in the form of cost savings, increased productivity, or intangible benefits like morale or image. The main issue with quantifying benefits is that it's mostly subjective, and values are estimates that have some confidence/uncertainty ratio. Valuation and scoring models and defined criteria will make the process more realistic.
September 2016: What is the difference between Business Case and Business Plan? In addition to the naming similarity, there is also relationship in the meaning and use of each of the two documents. A business case is a decision making support tool, to prove the 'case' of a proposal, project, idea, or any kind of initiative, showing why it is worth pursuing. As such, the contents of a business case are the explanation of the proposed subject, market study clarifying the need and potential, financial feasibility, and risks expected and any alternative possible solutions. While the business case is used before the initiative is approved, the business plan is planning for execution, including how the initiative organization is structured, funding sources, action plans, etc.
August 2016: When to say "audit" and when to say "assessment"? It's one of those cases where some professional terms sound like synonyms and confusing regarding what's meant by each. Audit is usually used when referring to formal compliance check based on defined standards, performed for purposes like certification or regulations enforcement, examples are ISO certification audits and financial audits. On the other hand, assessment refers to more general purpose checks and reviews for any specific desired targets, with the objective of improvement measured by some metrics. Assessments are also guided by standard guidelines, but not with the formal compliance view as in audits, examples are maturity assessment for improvement.
July 2016: What is an "excellent" organization? There have been several attempts to put a definition of what can be considered an excellent organization. Is there an absolute definition or is it relevant to the individual case of each organization? How can it be gauged, by financial achievement, by customer feedback, by market share and business size, or how? There are some common characteristics that are agreed upon to be describing an excellent organization: it has a clear and complete vision, a defined and communicated strategy to achieve that vision, measurements and metrics associated with its strategic goals for continual benchmarking, customer-focused, and it is continually improving. Excellent organizations can be of any size, industry, or age.
June 2016: Can you deal with HR management challenges? All businesses and projects need to acquire staff to work on performing work activities. Knowing how to deal with staff and manage them as special type of work resources is a critical success factor for all businesses. HR management practices apply to all kinds of people acquisitions, be it permanent employment, contracted, part-time, or outsourced staff. Proactive actions that help to avoid conflicts include setting expectations upfront and agreeing on common rules. Legally prepared agreements, covering various aspects of the relationship, will help all parties in leading a smooth engagement to successful culmination. Professional development opportunities are also key motivation and retention factor.
May 2016: Are you conscious about how you manage your time? People who claim lack of time to fulfill all of their responsibilities are most likely just lacking time management skills. Regardless of whatever tools or organizers you use for tracking your tasks, it's all about consciousness of what you are doing and why you are doing it now or later, prioritizing and planning, and elimination of wasteful activities, which are excessive actions that can be rearranged or done in a more efficient way. It's not mechanics, surprises happen, and you need to be adaptive and flexible to fit the right task to the right time slot. It's about your passion for getting something done, and remember that time is the most scarce resource, it can't be purchased or reclaimed, it just goes by.
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