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126 items found

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1%-10% Rule

Wiki

The 1%-10% Rule is used to determine the proper level of detail while breaking down the work of a project. The rule states that the lowest level of activities in the WBS of a project should have a duration no less than 1% of the project duration and not more than 10% of the project duration.

Activity Based Costing (ABC)

Wiki

The accounting technique, which identifies all costs associated with individual activities comprising a project or process, irrespective of its place within an organizational structure. For example, ABC assigns product costs, based on the activities that are required to produce a product. By identifying the product’s cost drivers and its corresponding activities, this technique also allows for identification of non-value-adding activities and opportunities for cost reductions through reengineering or redesign.

Activity Profiling

Wiki

A technique used to describe a specific activity in order to enable improvements and facilitate strong activity management.

Affinity Diagram

Wiki

The affinity diagram is a business tool used to organize ideas and data. It is one of the Seven Management and Planning Tools. People have been grouping data into groups based on natural relationships for thousands of years; however, the term affinity diagram was devised by Jiro Kawakita in the 1960s and is sometimes referred to as the KJ Method.

Apportioned Effort

Wiki

Apportioned Efforts hold direct supportive relationship to a discrete activity and can be measured in direct proportionate to a discrete effort. Due to the direct proportion relationship with discrete activity, apportioned efforts may not readily divisible from work packages. If the activity is painting the wall , doing verification and validation of the painting will be considered as apportioned efforts

Artful Nagging for Task Completion

Wiki

One of Merriam-Webster’s definitions of nag is “to annoy (someone) with repeated questions, requests, or orders.” Nagging can become an art form in project management- striking the right level of annoyance is critical; you want to encourage action, but not significant frustration or avoidance. Project managers frequently have to find a unique and subtle balance with many different project participants, so having a number of different approaches in your skillset is advantageous. Being able to nag effectively, by varying approach and using humor, can have a big impact on project outcomes.

Benchmarking

Wiki

Benchmarking determines where the enterprise is in relation to performing activities with "best-of-breed" or world class companies. It measures the performance or the degree of success that has been realized in comparison to other companies for a given activity, value stream, or other factor of interest. These measures then become the basis for analysis and redesign.

Benefit Estimation

Wiki

A technique used for estimating the direct (tangible) or indirect (intangible) favorable results of an action taken. Tangible benefits can be measured in terms of their direct monetary value, such as increase in revenue; intangible benefits are the favorable results that may not be measurable in dollar terms, such as improved morale of the employees, but can be estimated using a qualitative approach.

Brainstorming

Wiki

A technique for idea generation on a given subject in a limited period of time. Brainstorming is typically conducted in a facilitated session or workshop environment to stimulate creative thinking, to create novel or innovative solutions to a problem, and to introduce "controlled chaos" into the thought process. It is the most widely used technique to cultivate ideas. The objective is quantity, not necessarily quality and is based on the principle that "many brains are often better than one."

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