Your Guide to Project Management Best Practices

project sponsorship

PM Framework

Project Sponsorship: Definition, Relationships, Pitfalls

I’ve decided to write an overview of project sponsorship to help you and other managers to explore the definition and role of the project sponsor and identity the key duties and responsibilities. This article is first and describes the definition, relationships and pitfalls of project sponsoring. I plan to write a series of articles about project sponsorship. Please keep track of the website updates to read all the articles about this topic.

PRINCE2 activities

PM Framework

PRINCE2 Activities: Five Models of Managing Targeted Activities

The PRINCE2 methodology generates a range of activities to manage project constraints such as issues, risks, quality, business requirements, and so on. In order to plan and deliver a PRINCE2-driven project, the project manager needs to understand what activities to run and how they supposed to be managed. In this article we present five models of PRINCE2 activities. The models describe Business Case, Quality, Risks, Issues, and Work Done. The information in this article will help you better understand PRINCE2 activities.

buying a business franchise

Business & Finance

Buying a Franchise Business – The Pros and Cons

deliberate decision on buying a franchise business should be made considering all the pros and cons of the deal. The greatest advantage of franchising for the owner is the ability to bring independent retailers together through using one and the same brand name, model, and business concept. Buying a franchise business means participating in distributing products or services through retailing channels owned by independent operators. Franchising makes it possible for the franchisor to growth the business while minimizing investment activities.

PRINCE2 Project Management Methodology Overview

PM Framework

PRINCE2 Methodology Overview

The PRINCE2 methodology regards project management as a series of logical processes and procedures to create a well-controlled project environment. It provides a process-based approach that is applicable to all types of projects. Being originally developed in the United Kingdom as a standard of IT project management, today the method is widely used in many countries over the world because it provides the standardized suite of processes and procedures for safe, controlled and efficient planning and implementation of projects. Let’s learn more about the PRINCE2 methodology.

strategic business planning

Business & Finance

Strategic Business Planning and an Audit Checklist

The audit of the business management environment starts with investigating the foundation of any organization – strategic planning. Business strategic planning identifies what goals the organization is supposed to achieve and determines how it should act to reach the destination. Auditing strategic planning allows the auditor to get insight into the company’s top-level goals and expectations and then compare the current status of the goals with the plans. Below we present the definition and key elements of the strategic planning process and outline a list of questions for auditing the process.