Information technology (IT) runs most businesses. It’s hard to imagine a company without an IT department. But those devices don’t run for free. Managing information costs and managing information security for those costs are part of making an IT budget….
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Information technology (IT) has found its way into almost every aspect of our lives, both professionally and personally. What we might take for granted actually involves a great deal of work and investment. IT financial management (ITFM) covers the costs…
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Capital is money. In finance, capital is money that a company has, such as earnings or credit, which it can spend or invest on assets. Figuring out what to spend its capital on, such as capital spending on long-term assets,…
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When governments or corporations make large investments, they don’t do so without serious planning. There’s a lot of money involved in these capital projects and that means getting the funding and allocating the finances wisely. Let’s take a look at…
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Projects cost money. Everyone knows that. But what’s harder to discern is if the project is worth the investment. The last thing stakeholders want is to discover the project isn’t financially effective. That’s where the cost performance index comes in….
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Manufacturers can’t just produce as many widgets as they want. There are financial constraints, of course, but there is also demand to think about. Making more than the market will support is going to lead to extra costs in production…
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Businesses are always looking for ways to work more efficiently and this is also true in regards to information technology (IT). IT asset management is how businesses make sure those IT resources are being efficiently used. But what is an…
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Managing a project is basically making decisions. There are many tasks, but not all tasks are created equal. This means that a project manager must be able to make decisions about the priority of each and often use the Eisenhower…
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Production capacity is an essential metric for manufacturers. It informs their production planning, helps them give their customers more accurate lead times and forecasts cash flow. To better understand production capacity, we’ll define the term and go into greater detail…
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Manufacturing isn’t free. There are various costs involved in the production of any product. Being able to make accurate estimates of your manufacturing costs is critical to a company’s profitability and competitive advantage. Before work hits the production line, one…
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Certain manufacturers use a recipe to combine materials to deliver products. This is called process manufacturing and is a production method that’s common when producing in bulk. To better understand process manufacturing, let’s first define the term and explore the…
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Conducting a project audit is an important aspect of managing projects, but often one that is neglected. Read on as we explain what a project management audit is and show you in a few simple steps how to do one…
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Timesheet management is an essential part of human resources and business management. Time management is also critical to project management. Whatever type of work you do, if there are teams or employees, then you need a timesheet for time tracking…
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