Project Hero Blog - Weekly Best Practices and Tips

Small businesses are the backbone of our economy and face a unique set of challenges that larger companies can handle. One of the biggest challenges is managing projects effectively. Projects are critical because they deliver the strategy. That's where project management comes in. Today, let’s discuss the benefits of project management for small business owners and how it can help them succeed.

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Effective project management is all about ensuring that your project is completed on time, within budget, to the required level of quality, and delights the customer. One of the key ways to do this is by using metrics to track the progress of your project and identify any potential issues before they become problems. Let’s look at seven critical metrics that you should be monitoring as a project m...

Project managers are responsible for ensuring that a project is completed on time, within budget, and within the desired scope. Risk management is one way to help ensure this happens. Whether you're just starting as a project manager or have years of experience, there are many benefits of adopting risk management into your project management processes. Here are five of the top reasons why risk man...

With outstanding leadership comes great responsibility. For example, suppose you are a project leader, whether a project manager or team lead. It's up to you to communicate clearly with your team and manage their expectations. Luckily, there are some things that you can do as a leader to make this process easier.

Your ability to lead is a skill that you can improve with practice and patience. The...

To start reserve planning requires a completed risk analysis  (for details on how to complete a risk analysis, see our publication, Risk Assessment Framework: Successfully Navigating Uncertainty) . First, estimate the financial impact for each risk, then compute the estimated monetary value (EMV). The EMV is the product of the likelihood and the impact in dollars or your local currency.

While it ...

What is the project management risk process?  The project management Risk Assessment Framework is a flexible, easily scaled, and tailored framework aligned with the Project Management Institute's PMBOK® Guide. 

The benefit of the framework is that it is easy enough for an aspiring, new, and accidental project manager to understand yet comprehensive enough that even seasoned project managers will ...

Risk management is the art and science we use to assess and respond to the risks which exist throughout the life of our projects.  In fact, risk exists in virtually any initiative - programs, portfolios, business, operations, manufacturing, and more.  We perform risk management so our initiatives are successfully managed within the triple constraints of cost, quality, and time, plus any other cons...

Good leadership does not come from a single skill, but rather a collection of skills such as team building, influence, patience,  empathy, and creativity. This article examines 5 leadership skills essential for risk and crisis management. 

Risk management and crisis management are closely related.  Good risk management may reduce or minimize crises, but it is inevitable that at some point in your...

No matter what project management methods or project life cycles you are using, risk management is an important component.  While there may be some nuances for different circumstances, some elements are universal.

It's important to note that risk is unavoidable - no environment is completely risk free. But do scale your efforts accordingly.  A very complex project, projects with large budgets and...

There are four key terms to consider to develop an organizational risk profile before writing your risk management plan.  Only three are in the PMBOK® Guide – Sixth Edition, and you need to read the entire Risk Management chapter to find them. The fourth (do you know which one this is?) is not likely to appear in the Seventh Edition either.  But all four are essential and in regular use. Using the...