Work Breakdown Structure

Let's begin with a discussion of the vocabulary and processes that encompass project management. The project scope involves subdividing the major project deliverables into smaller, more manageable components. Often this includes the work breakdown structure (WBS). The project scope is a deliverable-oriented grouping of project elements that define the total scope of the project. The WBS is almost like a giant task list of what needs to get done to successfully complete the project. It is often...

Role Of Project Manager

It may also be concluded that a considerable number of projects fail from not having a skilled and experienced project manager to manage the process. This hole is quickly being filled, however, as companies recognize that successfully managed projects increase productivity, yield a greater return on investment, increase profits, and improve customer service. But project management isn't new. Project management coordination and planning skills have been used for centuries even as far back as the...

Project Schedule

In order to adjust for things such as scope changes, we need to be sure that there is a solid project schedule in place. The project scheduling process needs to include the activity definition, activity sequencing, activity duration estimating, schedule development, and the schedule control. Examples of the primary tools used for project scheduling are Gantt charts, or Critical Path Method (CPM), PERT (Program Evaluation and Review Technique). Critical Path Method and PERT are powerful tools...

Credit Checking Potential Customers

When a business extends credit, it is in effect loaning customers money, and any company wants to be reasonably sure that the money will be paid back. The best assurance of being able to collect is to check each customer's credit history before extending credit. That can be as simple as a phone call to a bank. However a business chooses to check a customer, it will want to build a credit relationship slowly and carefully. Remember, not every customer deserves the same credit terms thus, it's...

Software

The real power and use of what the computer can do, however, is largely a function of the software that is installed into these various systems. The most fundamental of the software functions is the operating system OS that runs the computer. Examples of the OS include Windows XP, Windows 2000, Linux, Mac OC, and Unix. These provide different processes through which we operate and work on our computer systems. The software directs the computer to perform very specific tasks such as creating a...

Microeconomics And Macroeconomics

Microeconomics is the study of small economic units such as individual consumers, families, and businesses. It is the study of the individual parts of the economy and how prices are determined and how prices in turn determine the production, distribution, and use of goods and services. Macroeconomics refers to the study of a country's overall economic issues. Although these two disciplines are often addressed separately, they are interrelated, as macroeconomic issues help shape the decisions...

Be a Good Listener

Active listening skills are crucial if you want to be a skilled negotiator. Being a good listener is challenging because you may feel stressed during the negotiation. Additionally, listening requires concentration and patience. Although you may want to interrupt with your comments, try to be patient and concentrate on what is being said. Many people find it difficult to concentrate because they are too busy preparing what they will say next in reaction to what was said. If you do your research,...

Five Structural Factors

In essence, the primary goal of an organizational structure is to coordinate and allocate a firm's resources so that the firm can carry out its plans and achieve its goals and objectives. The fundamentals of organizational structure revolve around five factors the division of labor, departmentalization, the nature of the managerial hierarchy, the managerial span of control, and the amount of centralization or decentralization in the organization. Division of Labor. The division of labor...

Employee Involvement Programs

Employee involvement programs seek to motivate employees by increasing their responsibilities or getting them more involved in decision-making processes. There are several types of employee involvement programs the more basic programs include job enlargement, job rotation, and teamwork. More ambitious programs include open-book management and worker empowerment. Job Enlargement. Job enlargement is a direct way to increase job responsibility. It involves expanding a position and giving an...

Mechanistic and Organic Organizational Structures

The five structural factors just discussed give rise to numerous organizational possibilities. Mechanistic and organic structures are two possibilities at opposite ends of the organizational spectrum. They give shape to the concept of the factors of organizational structure. A mechanistic organization is characterized by the following structural factors Degree of work specialization is high. Departmentalization is rigid. Managerial hierarchy has many layers. Decision making is centralized....