Architects | Planners | Interior Designers
A Work Breakdown Structure (WBS) is a visual representation of the tasks, activities, and subtasks required to complete a project. The WBS breaks down the project into smaller, more manageable parts, which can help in estimating the time, effort, and resources required for each task. A WBS, as per PMI is “a deliverable-oriented hierarchical decomposition […]
Demand forecasting is an important part of market and demand analysis, as it provides critical insights into the potential demand for a product or service over a specific time period. Naïve forecasting models are a type of demand forecasting model that are simple and easy to implement, but may be less accurate than more sophisticated […]
Market and demand analysis is concerned with two broad issues: 1) What is the likely aggregate demand for the product/service? 2) What share of the market will the proposed project enjoy? Market and demand analysis is a critical process in project management, as it provides important insights into the potential demand for a product or […]
The Benefit-Cost Ratio (BCR) is a financial appraisal technique that is used to evaluate the financial viability of an investment or project. It is calculated by dividing the present value of the project’s benefits by the present value of the project’s costs. The BCR helps decision-makers to understand the cost-effectiveness of an investment or project […]
Net Present Value (NPV) is a financial appraisal technique that is commonly used in investment and project analysis to evaluate the financial profitability of an investment or project. It calculates the present value of the future cash inflows generated by the investment or project, less the present value of the future cash outflows required to […]
Present value and future value are important concepts in finance that help to evaluate the worth of money over time. Present value (PV) is the current value of a future sum of money, discounted at a specific rate to reflect the time value of money. This means that the present value is the amount of […]
There are several financial appraisal techniques that can be used to evaluate the potential financial viability of a project. Some of the most common techniques include: Overall, the choice of financial appraisal technique will depend on the specific needs and goals of the project, as well as the availability of data and resources. By using […]
Financial appraisals are an important aspect of project management, as they involve assessing the financial feasibility and potential benefits of a project. Financial appraisals typically involve a number of key steps, including: Overall, financial appraisals are critical to ensuring that projects are financially viable and have the potential to generate a return on investment. By […]
There are many potential causes of project delays, some of which include: Overall, project delays can be caused by a range of factors, and it is important for project managers to identify potential risks and challenges early on and develop strategies to mitigate them. Effective project management techniques, such as regular project monitoring and communication, […]
Dividing your project management efforts into these five phases can help give your efforts structure and simplify them into a series of logical and manageable steps. There are typically five phases of project management, which together make up the project life cycle. These phases include: These five phases of project management provide a structured framework […]