In Lesson two on revenue forecasting, I introduced the notion of Type 1 and Type 2 errors. What would you expect would be the implications for Fred’s business if he expected the volume of repair work to be $400,000 the first year and it was only half that? On the other hand, what are the [...]
Forecasting revenues is a tricky business. Two common errors (called Type 1 and Type 2 errors) made are forecasting too many sales and operating at a negative cash flow until your fume date, or underestimating sales and not having enough capacity to meet demand. The best way to negate these errors is to come up [...]
I came across an interesting topic while reading “Trading and Exchanges”, by Larry Harris. It dealt with shifting cash flows in time. I personally love learning of new topics, and this definitely was a paradigm shifter for me. I decided to dig a bit deeper to see what else I could learn about the topic. [...]
I think one of the most challenging aspects of portfolio project management (PPM) is actually implementing a PPM system. In my experience, changing the culture of an organization that is used to ad hoc project selection/project management requires a significant ROI, and even then may not be implemented because management is not comfortable with such [...]
Project management can be a difficult enough endeavor, but managing a multi-cultural project team can add additional differences as well. It’s important to remember that not all of the differences that arise are negative. The three main differences are: Team member motivation (Anbari 2010) Communication style Heterogeneous idea generation Team Member Motivation According to Geert [...]
My current company manufactures hardware and develops software that assists Athletic Trainers perform their job duties. They have numerous projects that run concurrently to design and develop new hardware and software revisions. Every fiscal year management develops a list of key strategic goals that will improve the company over the next year. Each proposed project [...]
