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The Key Steps In The Project Portfolio Management

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The Project Portfolio Management is the management of project portfolios for maximizing the value of the project portfolio to the overall success of the enterprise, based on the investment goals. Planning and maintaining the optimized portfolio of projects, is one of the challenges in managing the project portfolio. Optimization of portfolio means working on a set of projects over a period of time, delivering the maximum value to the business investments. Thus, the Project Portfolio Management is an art of applying the management skills, techniques and the management tools for the projects with the aim to meet the financial objectives. […]

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Challenges For Project Managers In Global Project Management

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There are many challenges that the project managers have to encounter. Throughout the project implementation, the project manager’s aim is to meet the objectives of the project, to define the project tools, methodologies and schedule the deadlines. The project managers supervise the daily activities, observe the project progress and deal with the challenges. Managing the projects is a challenge for the project managers and it becomes difficult to meet the objectives of the project, once the project changes from local to global. Some of the challenges the project managers face while managing a global project are: Geographical boundaries: In a

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The Myths About The Tools In The Project Management

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The project managers do planning, execution and monitoring of all the components of the project. To complete the project efficiently, they usually need the assistance of the project management tools to ensure that every task is handled satisfactorily. The project management tools help in keeping track of all the aspects of the project, ensuring that the project objectives are met timely and effectively. The project managers are eventually responsible for the managing the projects and producing the desired outcome. And a good project management tool for managing a project is essential for the organization. However, there are some common myths

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How do you handle a difficult project team member if escalation to their manager has not helped?

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Each one of us have dealt with such situations, it is really hard to tackle them. It doesn’t go away easily, the only way to move things forward is a face-to-face meeting with that individual, and question the person until some agreement is reached. This works, but is this sort of micro-management, is the right way to handle a project and its team? Please ask some questions to yourself: Is the person very influential? Is there a suitable replacement available? How did he performed in past, with other project managers? Is the person really not serious or you feel it

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Communication Skills : A Skill Or A Gift ?

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People lacking in communication skills are likely to have difficulty in both social and professional interactions. Can it be developed or enhanced with time and practice? When we are born the brain of each individual is wired in a unique way that distinguish one person from another- this is the gifted part- which differentiate our nature and behavior, differentiating one from other. There are other skills which we develop and or enhance as we grow. Communication is a skill we can learn, develop, and practice, for instance we must learn it from different people in our social and professional network

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Top 5 Project Management Mistakes which can Cost a Project Manager

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Below is the list of top 5 project management mistakes 1. Unclear Statement of Requirement (SOW) resulting in incomplete Scope – There are times when many project managers assume certain things, basis their past experience or limited knowledge. The scope of the project should be documented in detail with each and every information in black and white. You need to document – who, what, why and how of your project. But most of the time people don’t, they fall victim to scope creep, and the project veers wildly off track.Consider 3 things while defining the scope of the project- What is

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Post Production Support Tips for the new Project

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Some project managers think that it is the job of the support team to support the software when live and there should not be any phase after project closure. They strongly feels that post production support is not meant for the project team. In reality there is usually more knowledge transfer required than actually done during handshake period. Hence there tends to be an overlap which is sometimes referred to as a warranty or post-implementation operational support period. The objective of the Post-Implementation Phase is to maintain and enhance the system to meet the ongoing needs of the user community.

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How To Manage The Marketing Projects Effectively

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Every business maintains a healthy professional relationship and to ensure the smooth process, marketing of the business is essential, whether the business is established or recently set up. Whenever there is the launch of a new product or a brand extension, the project manager has the greatest opportunity to increase the overall business growth and the organization’s innovation by managing the marketing projects effectively. Usually the projects are aimed at maintaining the market position, increasing the market share or to create a new market conditions by distinguishing the organization from the other market competitors. The below mentioned activities are usually

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The Three P’s Of The Project Management

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Project management is a carefully planned and an organized effort which is made to achieve the project objectives. The project management process includes – defining the objectives of the projects and assigning tasks in order to achieve the project objectives. The project is a success if there is clearly defined task priorities, clear expectations and roles, organization’s growth, teamwork, team motivation and team development. The project manager’s role is not just to lead the project team, but also requires many organizational skills and characteristics such as – effective communication, team building skills, problem solving skills and the interpersonal skills. The

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Importance Of Training For Project Managers

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The project managers have a vital role in the project management. They have to ensure that the project team focuses on the successful completion of the project. They have to allocate the resources, periodically carry out the monitoring activities, take necessary actions for preventing risks and constantly improve on the process of improvement in the project. The right kind of professional training courses prepares the project managers with the expertise skills in dealing with the complex projects, do planning, involve in various activities in the project, organize efficiently, deal with the risks associated with the projects and facilitate communication and

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