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This article covers a wide range of topics related to project planning, including but not limited to developing feasible timelines and budgets; assigning priorities to tasks and goals; tracking and managing project progress; using effective communication strategies; addressing and mitigating potential problems; leading teams effectively; managing risks and issues; fostering collaboration and ensuring high quality; and more.
Project managers can plan and carry out projects with greater success if they have a firm grasp of these essentials. This allows them to provide stakeholders with the high-quality outcomes they expect.Importance of Planning for Successful Project Delivery
Effective project planning is crucial to delivering projects on time and within budget. Approximately half of all projects end up being completed on time and under budget. This emphasizes the significance of good planning in ensuring successful project outcomes.
Goals, objectives, scope, timeline, budget, and resources needed to complete a project are all elements that must be considered when planning a project. Project managers can better anticipate and respond to challenges when they have a solid plan in place.
Planning a project well also guarantees that everyone involved is on the same page and knows what they must do to help the project succeed. Project managers can lessen the likelihood of misunderstandings and conflicts that could otherwise slow down the project’s completion by communicating the plan to all stakeholders.
Similarly, project managers should account for all of the costs that will be incurred by the project when developing a realistic budget. All expenses, both direct (like labor and materials) and indirect (like overhead and administration), are included.Prioritizing Project Tasks and Goals
Prioritizing project tasks and goals is crucial to meeting deadlines and staying within budget. This involves figuring out which activities and objectives are most crucial and should be completed first, and which ones can wait or be scrapped altogether.
A work breakdown structure (WBS), critical path analysis (CPA), and the Eisenhower matrix are just a few of the tools and techniques available to project managers for prioritizing tasks and achieving project goals.
Project managers can better allocate resources to the most important parts of a project if they first establish which parts are most important. This can help avoid setbacks, save money, and finish the project on schedule.Monitoring and Controlling Project Progress
The timely and cost-effective completion of any project depends on careful monitoring and control of the project’s progress. It entails keeping tabs on the project’s development and comparing actual results to the estimated timeline and budget. This allows project managers to spot problems that could compromise the project’s outcome and take steps to fix them. Project managers’ ability to track and manage tasks is crucial for meeting deadlines, staying on budget, and producing work that meets quality standards.Effective Communication Strategies in Project Management
Open and honest lines of communication are one of the cornerstones of any successful communication strategy. To achieve this goal, it is necessary to foster an atmosphere in which all team members feel safe voicing their opinions and where questions and clarifications are welcomed by all members.
Use simple, direct language as another useful tactic. Team members may not be familiar with technical jargon or other complex terms, so it’s best to avoid their use. Instead, go for a language that is straightforward and easy to understand.
Daily stand-up meetings, weekly progress reports, and project status updates are just a few examples of the kinds of routine communications that should be established. The timely resolution of any issues or concerns depends on everyone being on the same page.Managing Risks and Issues
Successful project delivery within time and budget constraints rely heavily on effective risk and issue management. Risk management is the process of anticipating and analyzing problems that may arise during a project, and then coming up with solutions to lessen or eliminate those problems.
In order to effectively manage risks, project managers must first identify all of the potential threats to the project and then rank them according to the likelihood and severity of each threat. They should also create backup plans in case something goes wrong, and make sure that everyone involved is aware of the risks and how they will be handled.
The sooner problems are addressed, the less of an impact they will have on the project as a whole. Managers of projects should have a system in place for dealing with problems as they arise. Sharing problems with stakeholders and keeping them updated on progress is also crucial.Collaboration and Team Management
The timely and cost-effective completion of any given project depends heavily on effective collaboration and team management. Project managers need to establish open lines of communication, define specific responsibilities for each team member, and encourage regular status updates to ensure efficient teamwork. Building a strong team requires a positive atmosphere where members are encouraged to work together.
In order to manage a team effectively, you must communicate your expectations to them, give them what they need to succeed and train them in the skills they’ll need to do their jobs. Team members can improve their performance and accomplish more with regular feedback and coaching.Quality Control and Assurance
Project management features like quality assurance and control are essential to delivering projects on time and within budget.
Quality Control is the process of keeping an eye on a job to make sure it’s getting done the way it’s supposed to. It also includes performing quality assurance tests to make sure the final products are up to par.
Assuring that a project is being carried out in accordance with the quality standards established by the organization is what quality assurance is all about. Improving these procedures on a regular basis is also essential for high-quality project completion.Continuous Learning and Improvement in Project Management
The goal of project managers who commit to a culture of continuous learning and improvement is to improve their effectiveness in leading projects toward successful outcomes. Project managers who practice continuous learning and improvement increase the likelihood that their projects will be completed on time and within budget. To do so, one must examine completed projects for lessons learned and then modify existing methods of project management accordingly.
Project managers’ abilities to foresee and resolve issues, streamline procedures, and bring in projects successfully and efficiently can all be enhanced through ongoing training and education.
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Project Management with Gantt Chart (Table of Contents)
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Excel functions, formula, charts, formatting creating excel dashboard & othersExcel Project Management Template How to Create Project Management Using Gantt Chart in Excel?
You can download this Excel Project Management Template here – Excel Project Management TemplateProject Management Gantt Chart Example
Gantt chart is the most often used technique for project management. A Gantt chart is prepared using Excel’s built-in charts, but in this article, we will show you how to build a Gantt chart using conditional formatting. Assume you have taken a construction project, you are supposed to work under tight guidelines from the starting day of the project, and you are required to finish the project in 30 days. The first thing you need to do is list construction activities. Below are the activities involved in general. Now you need to decide on the time frame of each activity, i.e., the duration time for each process. Prepare the duration from starting date to ending date.
Now on the horizontal row, enter these days like below. The starting date will be 17th July 2023, and the end date will be 16th Aug 2023.
One of the problems with this is that dates are too long to see in the single view; you have to change the date format from “DD-MMM-YYYY” to only the “DD” format to minimize the column width.
In these small boxes, we need to decide which date each activity is supposed to close. Enter the below formula to declare the closing date.
After using the formula, the output is shown below.
To apply the formula to all the remaining cells, we must first select and press Ctrl + D and then Ctrl + R.
Now we need to apply Conditional Formatting for this. Follow the below steps to apply conditional formatting.
Step 1: Select the area that we have applied the formula to declare “P”.
Step 3: In the New Rule window, select “Format only cells that contain”.
Step 4: In the formula section, choose “equal to” and enter the formula below.
Now we need to apply the Conditional Formatting to the cell with the letter “P”, So enter the formula as “P”.
Step 7: Go to the “Font” tab in the same window and choose only the ” Green ” font color. I have selected green because we don’t want to see the letter “P” in the Gantt chart.
Step 9: Now, our Gantt chart, which tracks our project construction, is ready.Things to Remember About Project Management with Gantt Chart
Creating Project Management with Gantt Chart is quite a complex process. It is not always easy for intermediate users of Excel.
Through conditional formatting, we can easily create a Gantt chart to track any project.
We have given the example of construction; based on your requirement, you need to change the activity list, starting date, and ending date, and the same needs to be updated horizontally.
You can change the color of the chart while applying conditional formatting.Recommended Articles
This is a guide to Project Management with Gantt Chart. Here, we discuss creating project management with a Gantt chart with practical examples and a downloadable Excel template. You can also go through our other suggested articles –
The losses incurred from project failure in the past are huge. You might have heard of the financial disaster Coca-Cola experienced when it launched New Coke back in 1985. They planned to launch a new coke, which failed miserably. The product didn’t receive the attention the company had planned, resulting in a loss of $4 million in development and $30 million in inventory that remained unsold.
Coca-Cola isn’t the first and only brand to experience a catastrophe like that. Nearly all major brands and small companies experience some kind of loss or failure when executing a project. When you plan a project, there’s no guarantee the end product will turn out exactly as you planned.
There are many reasons to be blamed. Poor communication, poor vision, and inability to plan the project precisely can have a devastating impact on your project execution. That’s why strategic project management is crucial to the success of projects of all complexity levels. In this post, we will discuss everything you should know about strategic project management, its benefits, and how to execute SPM. Read on.What is Strategic Project Management?
Having a strategy for a project gives your teams and stakeholders a clear picture of what deliverables to expect and by when. No matter how small, projects executed without a strategy can lead to delays, overspending, and poor quality. So, what exactly is SPM?
Strategic Project Management shows you the bigger picture of how certain types of projects will affect the company’s efficiency and your business as a whole. It’s based on a belief that modern projects can be fulfilled better when considering all aspects of project management instead of just the three vitals-budget, scope, and time. This can be achieved by combining project management methodologies with different frameworks to achieve organizational objectives. The main purpose of SPM is to ensure that projects are completed successfully and each project is aligned with your company’s goals.How to Implement Strategic Project Management?
There’s no major change in your current management approach. You just need to look at your management processes through a strategic lens. You will still follow the traditional methodologies and frameworks, but it has a broader scope and is focused on aligning your strategy with your business goals.Align Your Strategies with Business Goals
The most common cause of project failures is the lack of proper alignment between your projects and business strategies. Experts believe your success rate for all kinds of projects will increase dramatically when your projects contribute to your company’s goals. The question is how to do that.
You must identify the pattern that causes project failure. Take a look at your finished project portfolios and see where you are lacking or what’s the main cause of these failures. For example, if a majority of your projects fail due to poor communication, set communication as the important criterion for understanding the project’s feasibility.
Before you start work on a project, make a list of all projects and identify the impact they have on your staff, different departments, and the organization as a whole. Projects that are not aligned with your business strategy won’t be profitable for you in the long run. Develop a strategic project management plan to figure out if the projects are good for your organization and if they have an impact on your business plans.Build a Culture that Promotes Strategic Project Management
When you build a culture around Strategic Project Management, the stakeholders and other people involved in your business won’t face any trouble understanding their roles and responsibilities in the project. To achieve that, you must create a committee that’s responsible for bringing cultural change to the organization.
This committee should be responsible for ensuring that SPM is followed in all management operations. Building a culture where every employee, manager, leader, and stakeholder follows strategic project management will enable you to handle all management operations effortlessly.Implementing the Right Project Management Methodologies
Project managers are task-oriented. The focus isn’t always on strategies but on the duties that each employee has to fulfill. While that’s important, managers need to see the bigger picture. How is their project planning affecting other areas of their business?
Are the project methodologies or frameworks they have adopted feasible? Do they generate the planned outcome? As mentioned earlier, anything that’s not aligned with the company’s objectives should be dropped immediately. There’s no point in executing a project that doesn’t benefit the organization.Encouraging Knowledge Retention
Each project teaches you the right ways to finish manual tasks, the right management strategies, and a perfect framework that simplifies all complex management operations. This helps you manage your budget, allocate resources, and finish everything within the timeframe.
To reap the benefits of a project management strategy, it’s important that you retain knowledge. This can be done by documenting the lessons learned from each project. After completing the project, you should organize a meeting and invite each stakeholder and employee who worked on the project. Identify the areas you could have improved, whether the results are satisfying, and what you could have done better to improve the project outcome. All these factors are part of your Strategic Project Management.Tips for Implementing the Strategic Project Management (SPM)
Build a system to execute strategic planning
Monitor if your project is achieving the organizational goals, budget, quality standards, regulatory compliance, and delivery targets.
Conduct regular meetings with your stakeholders and clients to see if your project management processes contribute to the company’s goals and how exactly these processes benefit your business.Conclusion
Most companies have already selected and deployed their chosen project management methodologies years ago. However, they are looking at project management from a strategic perspective. The focus has been shifted to identifying projects that offer better value for the company and the clients. That’s how aligning your project goals with organizational strategies can benefit your business in the long run.
Nightlife: Boston’s Unscripted Musical Project An evening watching a hilarious improvised musical
Twice a month, a rotating cast from Catalyst Comedy improvises a musical based on a suggestion from the night’s audience. Photos courtesy the Boston Unscripted Musical Project
If you’re a fan of both improv comedy and musical theater, you’re in luck. On the first and third Friday of every month (tomorrow night being the third) audiences are treated to a hilarious improvised Broadway-style musical, courtesy of a rotating cast of quick-witted comedians who also happen to be good singers. The small cast and band of Boston’s Unscripted Musical Project create a laugh-out-loud one-act musical on the spot, based on an idea from the audience.
Wanting to find out what the improvisational theatrical event was all about, we recently headed over to the makeshift Catalyst Comedy Club in the Fort Point district’s Button Factory for a look. The project’s founder, Pablo Rojas (CFA’04) describes what they do as “Whose Line Is It Anyway and Glee meet off-Broadway.” It’s an apt description.
Dance music streamed from a speaker system set up near the makeshift stage as we arrived. Guests were mingling and sipping beer (the event is BYOB for the 21 and up crowd). We found a pair of front row seats in plastic fold-out chairs. (The intimate space accommodates only about 50 people, heightening the fun). The performers, a quintet dressed simply in black-and-white, took the stage and got down to business, asking the audience to shout out title suggestions for the hour-long musical. Past storylines have been concocted around suggestions ranging from Snow Globe: An Inside Story to The Mayor of Toronto and Zombie Apocalypse Gone Wrong. Each performance is unique, featuring a range of musical styles and songs and jokes tailored to fit that night’s idea.
As audience members shouted out ideas, one resonated above the others. “Tonight,” announced cast member Corey O’Rourke, “we present the opening—and closing—night of Traveling with Nudists,” and with that the latest installment of Boston’s Unscripted Musical Project was off and running.
As the lights came up, O’Rourke and fellow comedian Autumn Gillette were on stage, and in less than a minute, had established that they were a nudist married couple. They eased into the night’s opening number, “I Feel Free,” an upbeat tune extolling the benefits of their “natural” lifestyle. With cheeky lines like “Come on, take a peek at me,” and “The only thing on my body is SPF 40,” the song was impressive both for its technical quality and its witty lyrics.
The cast, an ensemble of veteran improv performers who have worked with the likes of ImprovAsylum and ImprovBoston, kept the laughs coming until the musical’s climactic scene: Steve’s runway debut. The unlikely model trips and falls, becoming a laughingstock. His wife, who has witnessed the embarrassment, steps out of the audience proclaiming, “You have always been beautiful to me, Steve.” The show’s heartwarming conclusion has the two reconcile as the rest of the cast encourages Steve to shed his clothes and “go free”—a rousing reprise of the opening number. With that, the lights came up and the cast took bows to well-deserved applause.
The opening—and closing—of Traveling with Nudists behind us, we headed out, having laughed so much our stomachs hurt and our eyes were teary, humming “go free, go free, go free.”
This is part of a series featuring Boston nightlife venues of interest to the BU community. If you have any suggestions for places we should feature, leave them in the Comment section below.
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Dapps or Decentralized Applications has become a buzzword in the crypto-world over the past 3 years. For the uninitiated, the term dApp refers to a blockchain-based application that runs on a decentralized network and uses its resources. Decentralized apps normally have no central point of failure, have open source code and work with a decentralized consensus mechanism. The downtime of these decentralized apps is also eliminated. They are resistant to interference by individuals, corporations or governments because they do not have any central authority.
Recently, ROI Dapps have been gaining investor attention. These types of dApps promise a return on investment which the user can withdraw at any time from the smart contract. ROI Dapps have been gaining in popularity, with the BSCFomo project being one of them.
Introducing the BSCFomo Project
BSCFomo is a hybrid ROI DApp project that is built on the Binance Smart Chain Network. The developers behind the project chose the Binance Smart Chain for its larger audience, cheaper transaction fee and matured investors. As ROI Dapps are normally a high-risk investment, choosing Binance Smart Chain will be beneficial for investors.
The main aim behind this project is to ensure investors get financial and time freedom without the hindrance created by the current economic crisis. By tapping into the bear cryptocurrency market, BSCFomo is well-positioned to become one of the most sought-after ROI Dapps in the world.
Contract starts on the 3th of April, 2023
Features of BSCFomo
The BSCfomo ROI dApp has a lot of salient features that differentiate it from other normal ROI Dapps. These include the following.
Investors can deposit any amount above 0.05BNB as there is no maximum capped amount.
Investors can withdraw the profit without any fee.
Investors can get upto 200% daily for 1-28 days on his staked BNB token
If users don’t make a withdrawal everyday, will get extra bonus: hold bonus. That mean investors can got more profit.
Hold-bonus add 0.1% per 2 days, max is 1.5%.
Referral bonus will auto send in wallet.
BSCFomo provides a functional calculator that easily allows users to calculate profits.
Earnings every moment, withdraw any time if you use capitalization of interest you can withdraw only after end of your deposit Investment Plans We have two types of tariff plans with different periods and percentages of profitability
How to start investing at BSCFomo?
Before investing at BSCfomo, you will need either the Metamask or Trustwallet application. To integrate your Metamask wallet, you have to complete the following steps.
MetaMask will require several bits of information such as Network Name, New RPC URL, ChainID, Symbol and Block Explorer URL. The information you will need to enter to add the Binance Smart Chain is provided on the official website.
First, you have to decide how much funds you want to invest. Do this by keeping an eye out for the current value of all tokens involved.
After you have decided on the amount, check to see whether the amount is sufficient for your investment which is inclusive of the gas fee.
DApps are completely free from any single authority by implementing the principle of smart contracts. P2P systems like these ensure that decentralized systems continue working even if significant parts of the network halt. ROI dApps like FantomFomo are positioned to maximize the returns that investors get. This new breed of ROI dApps provides an incentive to a newer class of crypto enthusiasts and investors to expand the network.
The PMP certificate has such weight in the industry because someone who has this certification is a qualified project manager with all of the necessary qualifications. If you want to earn your PMP certificate, it may seem daunting due to the requirements.PMP certification Requirements
In order to have a PMP certificate, there are a couple of requirements −
Project management education of about 35 hours
Experience in hours (a specified number)
The PMP certification is one of the most prestigious degrees for project managers. The job expectations for a project manager are diverse, which makes it easy to meet the benchmark for entry-level requirements.
For an internationally-recognized certification of project management competence, you’ll need to meet a set of criteria. Along with taking the appropriate education and passing the exam, you’ll also need two to four years of relevant project management experience. The amount of experience you need is determined by your formal education level, with 4,500 hours for four-year degrees and 7,500 hours for non-degree holders.
It takes 4,500 hours of work to become qualified with a four-year degree. But if you don’t have that degree and need the 7,500 hours of experience, it will require about four years of full-time work as an area of expertise.What do you Understand by Project Management Experience?
Congratulations, if you have spent time leading, planning, or managing a project, you are eligible for PMP experience. But you might be thinking by now that PMP experience is high, and can only apply if your job title is “Project Manager.” That’s where you’re wrong! If the nature of your job requires it to be project-driven in any way, then you can apply for this position. Such titles as supervisor, Assistant Project Coordinator, Team leader, or any other job title that entails project management are good examples of PMP application experience.You Can Show Your Experience by Providing the Following Documents
The work sample required for this position would be a project or assignments, detailing the roles and responsibilities you managed, which are the results of the project, and how long it took.
You can add pieces of training that you have completed detailing the institute and the hours it took to complete them.Qualifications of Project Management Experience
Becoming a PMP without experience is not possible. You’ll need at least four years of project management experience before you can apply for the certification. The answer comes from the experience section of the application, which is one of the most challenging tasks to complete. However, sometimes jobs don’t tell you that you’re working as a project manager and instead just list your job title. If this is the case, you need to go over all aspects of your role on each project to determine if your past work satisfies any PMP project management experience requirements. In order to find out any PMP certification experience requirement, go through each area below:
Some of your previous roles, especially those that have required you to oversee projects, may help you find a new career.Did You Spend Any Time Volunteering For Event Planning Projects?
If you have more than one PM role, you might need to find more time to focus on the management aspect of your job.
These project description examples can be indispensable tools for PMP applicants. For example, if your goal is to take the PMP exam, then the benefits of keeping a log of your work are very useful while filling out the application form. The candidates should maintain logs of their work.
Project management is a very broad skill, used in many industries. Here are some project management skills that can be used as PMP experience requirementsPlanning
A project’s scope, timeline, and resource allocation are determined before they start. Once that’s been established, the work is allocated to different people in order to be completed on time. Project planning can be done using a number of software tools or with a piece of paper and pen. For example, you could use graphics like Gantt charts to plan a project out visually.Leading
As a team leader, your job is to motivate and inspire the team. Think of it as your responsibility to bring out the best in every member. But above all, be sure that you are keeping a people-centric approach.Execution
Execution begins with the initial step of mapping out a project on paper. Executing a project, while seemingly simple in theory, takes up most of the project’s time, and many steps in this stage need to be carried out simultaneously to meet deadlines. This step, among others, is crucial for examples of project management experience for the PMP certification exam.Time Management
Project management is all about time. So, any changes that are required can happen in time. When planning out the project, you have to know how much time it will take for every section of the project and also set aside a certain amount of time for mistakes and human error.Budget
One of the skills a project manager needs is the skill in staying within budget. To stay on budget, allocate funds to each process according to its associated time and cost. The worst thing that can happen to a project manager is spending too much money.Documentation
When managing a project, it’s important to keep detailed records of the project’s duration and completion. One way to do this is to chart the process’s start and end dates as well as its current percentage of completion. This kind of documentation can serve as a future reference for the project, or for other projects that have a similar timeline. The most commonly used apps for this purpose are project management apps.Maintenance
Maintaining the project timeline is a key component of project management. It can be achieved by keeping track of the project, and making adjustments to it when necessary. When obstacles arise, they should be addressed quickly to ensure the timeline and budget aren’t disrupted.Acquiring Project Management Experience
The best way to find the experience you need to apply for the PMP exam is by finding a position with the title of project manager and working your way up. If this isn’t possible, you could also look at other portfolios to try and find projects that are similar to some past experiences.
To find out more about PMP experience samples that you’ve had in your career, you should do the followingKeeping Work Records
If you’re looking for alternative ways to track your career, it’s time to think of work as being done. Tracking the daily progress of a project may seem tedious, but doing so aggregates all your work into a summary of your career.
Having a record of all your work makes for a disciplined approach to your work-life balance–so you can have more time to focus on personal obligations. And you get the added benefit of being able to keep track of all your activities, which you can use to fill out the PMP application accurately.Volunteer
PMP application offers the ability to list out any volunteer projects with company details that you have managed. Find out if you can handle any projects by giving back first! This can then be added to your PMP application.Network
Most job seekers have at least one friend or family member in the field they’re looking for. Networking is a great way to find people who know about jobs through word-of-mouth, which is especially effective with project management. If you need to get connected with other professionals, networking provides opportunities for collaborating and working together.Conclusion
The key is to remember that your job title does not need to be “Project Manager” in order for you to get experience points. Whenever you’ve been responsible for coordinating a project, whether you were the designated Project Manager or not, then those experiences will count.
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