Explore a treasure trove of knowledge and insights in the world of project management at Visual PMP Academy's blog. We believe in the power of continuous learning, and our blog is your key to staying updated with the latest trends, strategies, and best practices in project management. Whether you are a seasoned pro or just starting your journey, our expertly crafted articles, tips, and real-world experiences will empower you to take your project management skills to new heights. Get ready to dive into a world of knowledge and inspiration, exclusively tailored to help you succeed in your project management endeavours!
In the realm of project management, stakeholders should be a vital consideration from planning through to execution. Their perspectives, needs, and actions can significantly impact the outcomes and success of your endeavours making their identification, engagement, and effective management crucial for achieving desired goals and outcomes.
Stakeholders and shareholders, although sometimes used interchangeably, actually represent distinct perspectives within the realm of business or project management. Shareholders are individuals or entities that possess a portion of a company's stock, granting them financial ownership rights and potential dividend earnings. They predominantly focus on the company's financial performance and the returns on their investments. In contrast, stakeholders encompass a broader spectrum of individuals, groups, or entities affected by or interested in the company's operations, irrespective of direct financial ownership. This diverse category comprises employees, customers, suppliers, local communities, and more. While shareholders primarily emphasize financial gains, stakeholders hold a wide array of concerns that extend across ethical, social, environmental, and operational dimensions, underlining the significance of their involvement for overall organizational prosperity and sustainability.
What are the Tools and Techniques in ITTO? Tool is a tangible item such as template or software. For example, the Project Management Information system is a tool. Technique refers to a defined systematic procedure such as brainstorming. We’ve included a few tables below to familiarize you with how to apply Tools and Techniques to a variety of project management knowledge areas.
The Agile methodology values individuals and interactions over process and tools. This belief is listed as the first of 4 epic Agile Values which serve as benchmarks for its 12 principles which we also explain here. Because this first value is about giving your team the ability to make good decisions, let’s have a closer look at why it’s considered a foundational stage. If you have any questions or would like to learn more, contact us via email at Info@avisualpmpacademy.com.
