What is an investment project
A project is a series of activities planned to achieve an objective within a given time and budget. An investment on the other hand is the placement of capital to obtain future gains.
Tag: project management
Importance of management in an organization
The success of an organization can be attributed to the way it is managed. Whether you are talking about a small, medium or large establishment, management is so crucial that it should not be overlooked. So what is it about management that makes it so inevitable in the pursuit of success? To answer this question, we have to go back to the drawing board – to the essential functions of management. They are planning, organizing, staffing, directing and controlling.
What is a project charter and what is its role?
A project charter is a formal document that outlines the business purpose of your project and, when approved, initiates the project. It is created in accordance with the business case for the project as described by the project owner. It is a crucial part of the process of initiating an investment project. So, the purpose of your project charter is to document the goals, objectives, and business case for the project.
Control project costs for greater profitability
Cost control plays an essential role in any financial strategy. How do you stay on budget when you're keeping track of your project finances? Just like developing a personal budget, you have several options: rank expenses, determine the most expensive items, and find solutions to limit spending in each area. Having accomplished all these actions, you will be able to control the budget and increase profits.