June 2018: What does SCRUM mean? Scrum is a project management methodology that applies the agile approach in management. As a methodology, it provides recommended practices, in the form of principles, aspects, and processes, for managing projects, programs, and portfolios in an agile way. The agile approach in general calls for appreciation and anticipation of changes throughout the lifecycle of the project, and progressive elaboration on requirements and plans, so that delivery is done on increments in arrangement with the customer, through successive sprints of the project. Scrum Teams are facilitated by Scrum Masters, as opposed to project managers in traditional project management, where work is based on collaboration and self-organization. This method promises for quick realization of value, and less overhead and rework in the project.
May 2018: What is the importance of planning? "Failure to plan is planning to failure" is a popular statement in management arena. This is because how critical is it to plan ahead of any activities you do, so that implementation is done according to well thought and organized steps. Planning is an upfront study and analysis of inputs to the activity, and understanding the expected and desired end outcome from the activity, so that appropriate estimation of time, costs, resources, risks, and other aspects of implementation can be organized through the most suitable approach that meets the requirements, and systematic steps are defined and organized in the way that leads to the expected outcome. A wide range of tools and techniques are used for accomplishing planning tasks, depending on the aspect being planned and nature of the activity under consideration.
April 2018: Who are your stakeholders? You will always have one or more stakeholders in any activity performed. A stakeholder is any party (person, group, entity) that affects or is affected by the activity in question, positively or negatively. Knowing who are the stakeholders in a certain context is an important aspect, because determining how to deal with each of them is key factor to reach a successful end. In order to do that, you need to understand what are the interests and concerns of each of the stakeholders in this specific endeavor, how much influence they have in supporting or opposing this endeavor, what is the type of their involvement in work, and their communication needs. That's why stakeholders are usually classified in categories based on these criteria, so that a relevant strategy can be defined for managing relationships with each category.
March 2018: What are decision support tools? Decisions are made at all levels on everyday basis. Management science therefore is devised to help managers make optimum decisions in light of stipulated constraints in the business environment. Along with defining decision making as a scientific process, algorithms and tools are invented to support this process. The suitable algorithm and tool are chosen based on the nature of the problem to be addressed, so that the process itself is efficient and the modeling of the problem is relevant, yielding the best possible overall process and outcomes. Modeling a problem for decision making is the step that prepares the input to be fed into the decision support software tools that automate and facilitate the application of the scientific algorithm to calculate the optimum solution. Models have many forms and several tools can be used for different models.
February 2018: What is EFQM model? The European Foundation for Quality Management (EFQM) model is one of the most adopted models for organizational excellence. This model consists of a set of nine criteria, divided into 5 Enablers (Leadership; People; Strategy; Partnerships & Resources; and Processes, Products, & Services) and 4 Results (People Results, Customer Results, Society Results, and Business Results), which collectively support the axis of Learning, Creativity, and Innovation. Each of these criteria provides guidance points for how to achieve organizational excellence related to this aspect. The model also specifies a set of eight Fundamental Concepts, that govern and surround the implementation of the nine criteria. The advantage of this model lies in its maturity, since it's been developed and enhanced over long time, in addition to applicability on general types of organizations.
January 2018: Why do you need to have a PMO? A Project Management Office (PMO) is a special purpose organizational unit that's considered a catalyst for project success in project-based organizations. It is a unit that acts as a central orchestrating authority and a center of excellence for project management. Types of PMOs vary depending on the functions assigned to this unit and its level in the organization. It can be associated with senior management level and covering strategic roles like portfolio management, or it can be providing execution direction for projects and programs across their lifecycle, or it can be a repository for standardizing the project management methodology within the organization and development of the project managers skills. Launching and continually improving and maturing a PMO in your organization will have a direct positive effect on your bottom line results.
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