Mitigating financial challenges requires a multifaceted approach where the focus is not only on the business case presentation but also on developing strategic and innovative financial planning. Some ...

Keeping project finances from PMs does seem counterintuitive; however, there are some reasons why it may be beneficial. One of the reasons could be that organizations want to encourage creativity and ...

The key distinction between FS and SF is the direction of dependency. FS can be described as having a "forward-looking" dependency where Task B's start is dependent on Task A's finish. SF can be descr...

There are different avenues that new companies could approach to develop these estimates. One of them is to consult experts within the industry, for example, subject matter experts (SMEs), who can pro...

There are various traps and obstacles that can occur during the project initiation phase. One of them could be the possibility of having unclear project objectives which would result in delays and eve...

Avoidance is more easily incorporated and possible in the product design phase of the product, product design, and manufacturing process. This is because the product design phase is in the earlier dev...

To ensure appropriate approvals during the design review meetings, project managers need to incorporate careful planning with appropriate preparation and effective communication. Project managers shou...

In a matrix organization, effective communication and negotiation are essential for proper resource allocation between the project manager and the functional manager. One way to do this is by clearly ...

Having a basic understanding of project management can always come in handy, even if one does not plan on going into that particular field. It can help one understand the various roles seen within a p...

As you mentioned, class I devices such as tongue depressors or masks would have an extended maturity phase due to the consistent demand for these products and the limited room for significant improvem...

For successful management of a project that the manager has little expertise in, there are multiple steps that the manager can take to ensure the success of the project. The first step could be to ass...

To put it simply, functional organizations have centralized authority, whereas weak matrix organizations have shared authority between functional managers and project managers. Additionally, for funct...

Team members must be appropriately motivated to report their tasks which can become a tedious task at some points. Here are a few ways the team members can be motivated: 1. Recognizing and showcasing ...

I agree with the notion that culture plays a crucial role in project management and although I am not personally aware of any company or organization that is in dire need of culture upgrade, I can tal...

Both medical devices and drugs are essential parts of healthcare and medicine. Although both have quite a few similarities, they also have quite a few differences. They're similar in that they can be ...