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Monday, August 10, 2009

PROJECT PLANNING AND MANAGEMENT

A New Technique..........?

Let me explain you what is PROJECT PLANNING AND MANAGEMENT. This whole cool innovative was explained to me by my friend, believe me he is the greatest planner I've ever seen.....and he was my inspiration for this article......
What is PROJECT PLANNING AND MANAGEMENT(simply PPM)....? Well, it is a scientific method to optimize resources, cost & time. This ensures many things where and when you use such concepts...you are profitable and competitive and deliver your work as planned on time & all the time.


"If you fail to plan you are planning to fail"

So what will happen when you do some project without such concepts......huh? Here we go-->The first initial thing is, your team struggles to keep committed deadlines..and your resources are inadequate halfway through the project...moreover your expected to spend more than your budget....and it will also result in possible use of unwanted man power and machine power...then your team goes mad then you will drop your project and go home empty handed....

There are really really several areas where PPM's are used such areas like Construction, New product, Event Management, Finance, Production, Software, Maintenance and any other team works induce such concept and get benefit.....

If you are running some kind of hardware production company or any company.....your aim would be to get a profitable result....so such aim can achieved only when your work involves TIME and COST and SCOPE and QUALITY, where all these are packed under PPM.

The very most and basic thing in making a project to succeed is that you have to understand your project by following the things such as, make sure you've initiated the projected then plan accordingly, then have a full control of your project and make use of the right timing and execute the process and have a or make a better end....as they say "WELL BEGUN HALF DONE".......

Well and mostly what matters the most is that you must have knowledge not only the basics but also a lot knowledge about Communication,Risk,Quality,Procurement,Time,Scope,Integration,HR and Cost where all these knowledge must be associated with your project and only your project.......!!!

Why is PPM such important?? Because, if a project is bound by Time and Resource and Cost ...then we need it for sure....! And simply PPM's an essential tool for EVERYONE IN AN ORGANIZATION....like for people who develops software, engineering professionals, management professional, project managers, schedulers, contractors, architects, production managers.....and many more who wish to succeed....so, PLAN IT FOLLOW IT SUCCEED WITH IT....

FINANCIAL PLANNING AND ITS REQUIREMENT

Is financial planning is required to everyone? The answer is definitely 'yes'! Financial planning is very very important for every one who has income. Let us find out some reasons for this which will enable us to understand the importance of financial planning:

WEALTH CREATION: Only traditional rich families from business world used to generate good amount of wealth. But nowadays, many individuals are earning in good amounts and this creation wealth reallly requires planning, so that their money or wealth can be secured and used in a systematic way through the planning.

UNCERTAINTIES: After the recession of the economies, worldwide, life has become so uncertain. Yesterdays white collared software professional is now on road. So what happens in life, we really do not know because at any time, future is quite a mistery and for this one need to plan his financial requirements. Any unforeseen event can be covered through insurance for example.

MARKET LINKED PRODUCTS: Today, including insurance, many products are related to markets and these products can be monitored by financial planning only. Individually an investor can not make a choice in selecting a right product for him, and in this connection, a good advisor on financial planning is definitely required.

SHORTAGE OF TIME: Many rich people who are at high positions are really poor investors and poor financial planners. So they need advise from financial advisers. For them the financial planning is really required. Strategic asset allocation is suggested by the advisers to secure the earnings as well as increasing the wealth.