Good to Great by Jim Collins is a book about how good companies can become great. It is a compelling study of Collins and his team, which teaches us what separates successful companies from mediocre companies.  The author firmly believes that good is the enemy of great. Throughout the book, he provides instances and examples…

A Change Control Board (CCB) is a group of stakeholders (e.g., management, experts, and project sponsors) who meet regularly to discuss project changes and approve and reject change requests. This board is external to the project and can include the project manager. The project manager submits change requests to the change control board (CCB), which…

Many project managers report the project status as “Red,” “Amber,” or “Green,” which is commonly known as “RAG status reporting.” RAG status in project management helps the project manager visually share the project status with stakeholders. RAG Reporting is useful in project management. In today’s post, I will explain this tool in detail so you…

Choosing the right Customer Relationship Management (CRM) software is crucial for small businesses aiming to streamline operations, enhance customer interactions, and boost growth. With numerous options available, finding the perfect fit can be overwhelming.  In today’s article I will provide you with the nine best nine CRM software solutions useful for small businesses, considering affordability,…

A project timeline is a detailed visual representation of the chronological sequence of tasks, milestones, and key events in a project. It outlines what you must complete when you must complete the project, and who is responsible for each task.  A project timeline can be an extensive overview or a summary of tasks grouped in…

Secondary risks in project management are risks that arise directly from implementing a risk response. These risks are not present initially but become apparent after addressing primary risks. If not managed properly, they can impact the project’s objectives. According to the PMBOK Guide, “Secondary risks are those risks that arise as a direct result of…

Contingency reserves are critical for a project’s success, and you can calculate them as part of risk management. These reserves protect your project from risks and provide a safety net from external and internal influences over your project objectives.  By planning to manage unknowns, you can overcome obstacles, maintain control over the project, and complete…

A management reserve is an important part of the project budget that helps you manage unidentified risks. It cannot be used like a contingency reserve; you must get approval from management or the project sponsor. The management reserve is neither a part of the cost baseline nor a calculated reserve. Management decides on this reserve…

Risk management is key to project success, and fallback plans are key elements of a risk management plan. These are part of the safety net that can save your project from critical risks if your contingency plan fails. A fallback plan anticipates risks, offers strategies to manage them, and minimizes the impact on timelines, budgets,…