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 Why It Is One of The Most Important Tools in Project Management Project management is a complex and multifaceted process, and having a work breakdown structure (WBS) in place can help ensure a project's success. By breaking down a project into smaller, manageable tasks, the project manager can gain insight into the project's scope, timeline, and cost. A WBS can help identify the resources, tasks, and dependencies required to bring a project to completion. In this blog, we'll explore the fundamentals of a WBS and how it can help streamline the project management process. A work breakdown structure (WBS) is an essential component of project management that helps break down the scope of a project into manageable chunks. WBS is usually presented in the form of a hierarchy, with the highest level representing the project as a whole and each subsequent level representing smaller and smaller components. The WBS serves many critical functions in project management. It helps proje

What Is Poka - Yoke? Poka - Yoke is a strategy for performance excellence. The Simple meaning of Poka-yoke or Mistake Proofing is to eliminate Mistakes. It is a methodology that is used to strive toward zero defects by either preventing or automatically detecting defects.? Poka Yoke is a Japanese term literally defined as 'mistake proofing. It is often used in the context of designing devices, that prevent defects from being made or, if they are made, from moving to the next process. Poka-yoke can be used wherever something can go wrong or an error can be made. It is a technique, a tool that can be applied to any type of process be it in manufacturing or the service industry. History of Poka - Yoke The phrase Poka-Yoke originates from the Japanese words yokeru = to avoid poka = inadvertent errors Poka-yoke was coined in Japan during the 1960s by Shigeo Shingo who was one of the industrial engineers at Toyota. (poka-yoke techniques to correct possible defects + source inspection to

  Why Risk Management is important for  Project  success? If you don't invest in risk management, it doesn't matter what business you're in, it's a risky business. -Gary Cohn Let’s understand Risk and different types of Risks... Risks are future problems; focus is on Future consequences. Risk  - An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Positive Risks  - Are the opportunities that may have positive impacts on the project’s objectives. e.g., let us say that there is a possibility that if you complete your project a few days before the scheduled date, you will get another project. Negative Risks  - Are threats that may have negative impacts on the project’s objectives. e.g., let us say that in your project there is a possibility that some equipment may break due to workload; this is an example of a negative risk, and if this happens, it will damage your project. Pure Risks -  A risk that can ha

  Introduction The purpose of this paper is to gain an understanding of project management and to give a brief overview of the methodology that underpins most formally run projects. Many organizations do not employ full-time Project Managers and it is common to pull together a project team to address a specific need. While most people are not formally skilled in project methodology, taking a role in a project team can be an excellent learning opportunity and can enhance a person's career profile. What is a Project? A project is a temporary and one-time exercise that   varies in duration. It is undertaken to address a specific need in an organization, which may be to create a product or service or to change a business process. This is in direct contrast to how an organization generally works on a permanent basis to produce its goods or services. For example, the work of an organization may be to manufacture trucks on a continual basis, therefore the work is considered functional as