MilestoneTask
Delivering Project Management Excellence
The process of learning from past experiences is an essential aspect of successful project management. This process is commonly referred to as the lessons learned process. It involves capturing and utilizing insights gained throughout the project lifecycle to improve future endeavors. This informative article outlines the key elements of a universal lessons learned process. Read More
The lessons learned register is a document that project team uses to record their lessons learned in a project. Project Management Body Of Knowledge (PMBOK) 6th Edition has introduced a new process called “Manage Project Knowledge” that chiefly governs lessons learned in projects. The lessons learned register is an important output of this process. Read More
Lessons learned benefits projects of all sizes and complexities. Certainly, documenting valuable project experience gained creates a knowledge base for future similar projects. Even though its importance in project management is evident project teams often fail to complete this crucial exercise. Profitability of future projects suffer due to lack of this knowledge base. This post includes 10 significant lessons learned benefits. Read More
Net Present Value is a financial analysis technique that evaluates project profitability. It is a useful project selection technique. NPV project selection criteria falls under the classification of benefit measurement method. Further, NPV analysis uses discounted cash flow method to assess project profitability. In fact, major advantage of NPV method is that it uses time value of money. Read More
Project selection methods have a vital role during project initiating phase. In fact during the project selection process a project manager rarely has any involvement. However, knowing the essentials of the project selection process adds value to the overall project execution. Moreover, those aspiring for the pmp certification examination need to know the basics of project selection criteria. Read More
Project variance analysis is an important technique that allows project teams to constantly compare planned performance with actual project data. Hence, it assists project teams in identifying and analysing deviations in project performance. In simple terms, variance analysis is the variation between plan and actual project performance. It further helps to identify causes and assess severity of deviation. Read More
Benefits of a Project Management Plan: A project management plan is the collection of outputs of the project planning processes. It defines how the project is executed, monitored and controlled and closed. This needs to be updated and revised throughout the Integrated Change Control Process and it consists of the following Project Scope Management Plan… Read More
