EduMind Inc

"The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency." - Bill Gates "Efficiency is doing things right; effectiveness is doing the right things." - Peter Drucker The term "efficiency" gained popularity in the late 1800s and early 1900s. The Time and Motion Study was used to find ways of improving efficiency at work. Time and motion study help in reducing and controlling costs, improving working conditions, and motivating people. The Time study was developed by Frederick Taylor. The Motion study was developed by Lillian Gilbreth and her husband Frank Gilbreth. It is interesting to note that Lillian Gilbreth is known as the first woman engineer and also as the mother of modern management. The Time study involves the continuous observation of the task with a timekeeping...

"Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years."- Warren Buffett "All models are wrong but some of them are useful" - George Box (Statistician) Make-or-Buy decisions happen when the company is going in for a new product line, or is running short of suppliers, or the capacity to produce is running down. The goal maybe to reach a global benchmark in product quality. So, make-or-buy analysis is made about whether internal production or external buying will help the company reach the goal. Manufacturing companies are very often encountered with a make-or-buy dilemma, but the same holds good for companies handling soft technologies such as software and customer service too. The Make-or-Buy analysis is performed at two levels:  - Strategic  - Operational The strategic angle is more long-term and broader than the operational angle. Factors such as competition, government regulations, core com...

"Project Success is in the delivery of a Project Output that meets Clients expectation with Maximized Efforts" "Victory is ensured for well-matched project management methodology and the right type of Project" A Project is a collection of activities like planning, executing, implementing and monitoring for an expected outcome. Project Managers who handle all the various activities to provide the clients' required output is called Project Management. Project Managers plan, assign, execute, monitor and document the various stages and are responsible for making sure that all this is done without any hindrance. While they are managing a project there are a lot of methodologies that can be used. Here are some popular and not popular methodologies that Project Managers can use in their business practices. Project Methodologies Project Management practices has a few common project management methodologies which is known in the business circles. ...

"Peace is not absence of conflict, it is the ability to handle conflict by peaceful means" "Be quick to resolve conflicts before they mature to become wars. The energetic crocodile was once a delicate egg!" - Israelmore Ayivor, The Great Hand Book of Quotes Conflict may be defined as a difference of opinions and actions that prevent smooth functioning of a project. Conflict may occur due to a lot of reasons. We human beings are not similar to each other, and just as our fingerprints are unique our thoughts and actions are also unique and different. These differences can lead to conflict. Table of Contents 1. Insufficient Resources 2. Differing Priorities 3. Different Working Styles 4. Methods and Techniques to Reduce Conflict 1. Insufficient Resources: Sometimes the cause of conflict may be du...

"The separation of talent and skill is one of the greatest misunderstood concepts for people who are trying to excel, who have dreams, who want to do things. Talent you have naturally. Skill is only developed by hours and hours and hours of beating on your craft." - Will Smith Successful project managers are people who have polished their skillset into a talent. Project Managers who are good at handling a project from its initiation to completion are praised as talented Project Managers. Is it talent or skill which is most needed for a Project Completion? Project Management skillsets such as subject matter knowledge, effective time management, knowledge in project management tools, organization, communication, political savvy, and leadership qualities are the most required for the Project Managers. These skillsets are acquired through actual on-the-job work experience. Even the most talented Project Managers should have functional knowledge of managing a proje...

"A man builds a fine house; and now he has a master, and a task for life; he is to furnish, watch, show it, and keep it in repair, the rest of his days." (Ralph Waldo Emerson an American Transcendental Author) "The best skill of a Construction Project Managers will be to take the vision of a sketch and make it a mission of their project" The Construction Industry has been around nearly since the beginning of time. The first time a human being built a structure to protect themselves from the climate and wild creatures, a Construction Project Manager was born. From the first shelter to the present day skyscraper buildings, these have been possible in part because of the innovative spirit of the Project Manager The Construction Industry is made up of five sectors          a.       Residential          b.      Commercial          ...

"All things are created twice; first mentally; then physically. The key to creativity is to begin with the end in mind, with a vision and a blue print of the desired result." - Stephen Covey (Author of "7 Habits of Highly Effective People") "Begin at the beginning,' the King said gravely, 'and go on till you come to the end; then stop." - Lewis Carroll (Author of "Alice in Wonderland") There are different types of Project Management and they vary according to the industry in which it is being used. Waterfall Project Management is otherwise known as the Traditional Project Management or Sequential Project Management. The title "Waterfall Project Management" was first used and described by Winston W. Royce in his 1970 article "Managing the Development of Large Software System". The waterfall project management follows as seven predefined steps. These steps or phases occur sequentially and the progress of th...