One of the biggest challenges in planning and executing a project is compiling the budget. Regardless of the industry and the scale of the project, a detailed forecast of the potential costs is crucial for successful project delivery. At first glance, budget planning appears to only include labor and material costs. But, on the contrary, many costs besides these need to be considered when it … Continue reading 3 aspects to consider when compiling a project budget
Technology has changed the whole world. It has the positive and negative impacts on the societies. However, there is no doubt that people are embracing the technology because it is making the lives more comfortable, it is up to the person that in which way he uses the technology. The people from business industry use different technological methods for the progress of the company or … Continue reading Technology Advancement Links With Business Productivity
Paypal, SolarCity, Zip2, SpaceX, Hyperloop, OpenAl, Tesla Motors… Do these ring a bell for you? Just in case you didn’t know, all these companies are only some of the numerous successful undertakings that 46-year old Elon Musk has developed so far. As a matter of fact, so far these brands have brought him the mind-blowing net worth of 20.6 billion dollars and an absolutely deserved … Continue reading 5 Life Changing Skills You Can Learn From Elon Musk – Guest Post by Jason Grills
The hotel business is quite different from other types of service businesses, as it is a more complex business model, which encompasses more than providing accommodation. A starred-hotel usually also offers food and beverage services —in the form of restaurants, cafes, catering, and room service— and other related services, like meeting facility, spa, salon, and fitness club. Such complexity requires a comprehensive understanding of how things work and an advanced level of synchronizing project tasks, especially when it comes to opening a new hotel site. Continue reading Starting a New Hotel Venture? Here are 5 Project Management Tips for Ensuring Success
This impactful statement by the founder of Virgin Group truly highlights the importance of employee empowerment.
When it comes to the success of a business, most business people tend to focus on their existing and potential customers. However, they often forget that the key to business growth is to take care of their employees. Continue reading Efficient Staff Management Is the Key to Success: Here’s How | Guest Post
Managing a team has many challenges, two of which are the issues of accountability and finger-pointing. Accountability itself is often confused with responsibility. Here is a simple difference between the two terms. A person who is responsible is the one who completes a task, while a person who is accountable is the one who must answer to the authority. Therefore, when someone completes a task, he or she is considered “responsible.” However, he or she might not be the person who is accountable, because the accountable person is the one who must respond to the authority. In a project, the ultimate authority is the sponsor. Depending on the task, the authority to whom an accountable person must answer to varies. For certain individuals, being accountable can be something new and frightening, which would very well lead to finger-pointing. A good project manager acknowledges the possibility of such happening and will do the best he or she can to ensure accountability is well respected in every task. Continue reading 4 Effective Ways To Increase Accountability And Reduce Finger Pointing In A Team
Team members must work in harmony to ensure the project is executed well. This would require them to possess work prioritization and time management skills, in addition to the ability to follow the project schedule.
So, if you are a team member, how can you polish these two important skills? By mastering the following five activities and continuing to better yourself in those areas. Continue reading 5 Tips To Increase Work Prioritization And Time Management Skills