Your Guide to Project Management Best Practices

Author: MyMG Team

why research markets

Business & Finance

The Importance of Market Research Explained, or Why You should Research Markets

Today it is nearly impossible to efficiently sell a product or service without having conducted market research. The importance of market research is that a business company gains a suite of solutions for developing business processes, increasing profits, improving company performance, investigating competitors and getting more satisfied customers. The following article highlights three key opportunities that your organization can gain from planning and conducting market research.

effective talent management in 4 steps

Templates

Checklist: Effective Talent Management in Four Steps

It’s nearly impossible to make a business flourishing and highly competitive without effective talent management in place. Human resources are the driving power of any business, and talent management helps managers and owners to retain workforce, develop employee skills and improve team performance. Effective talent management allows filling up the skill gap and avoiding performance reductions through recruiting talented employees and developing competencies and knowledge of existing workforce. Managing talents and competencies of employees can be presented as a consistent process that consists of the four key steps, such as Recruitment, Retention, Development and Performance. Each of the steps of effective talent management can divided into sub-steps that better characterize the process and its essence. In this article we present a checklist for carrying out the process in the four key steps.

project phasing

Project Implementation Guide

Project Phases

Project phasing becomes important in the context of achieving the project’s purpose and its objectives stated by the policy. It gives information required to understand how to methodologically achieve the project’s purpose, what the project phasing process is, and which phases are typically involved in the project implementation life-cycle.

implement risk plan

Project Implementation Guide

Implementation of the Risk Management Plan

The process of putting a strategic plan of managing identified threats and exploiting opportunities into action is called the implementation of the risk management plan. Such a process may take many forms – this depends on the business culture of the performing organization, history of previous efforts, available resources, number of individuals involved in the project, and other factors.

Project Implementation Guide

Design of the Risk Management Plan

A Risk Management Plan is a formally created and approved document that describes how the risk management process will be organized, what phases it will consists of, how it will be implemented, and who will be involved in the implementation. It is a roadmap for managing identified risks and exploiting opportunities throughout the project lifecycle.