Remove Blog Remove Finance Remove Monitoring Remove Technical Review
article thumbnail

Capital Budgeting: Definitions, Steps & Techniques

ProjectManager.com

In finance, capital is money that a company has, such as earnings or credit, which it can spend or invest on assets. The time value of money is about the potential rate of return on the investment as well as the reduced purchasing power over time due to inflation. Capital is money. Conducting a feasibility study is a good idea.

Budget 336
article thumbnail

Operations Management: Key Functions, Roles and Skills

ProjectManager.com

Company resources, such as staffing, materials, equipment and technology, are all part of the optimization process of operations management. Finance & Accounting Accounting is all the financial transactions within a company. They also evaluate suppliers, negotiate contracts and review product quality.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Is a Project Director? Role, Responsibilities and Salary

ProjectManager.com

Project directors are responsible for the successful conclusion of the project by providing leadership, strategically managing risk, monitoring finances and making sure that each phase of the project starts and ends on schedule. Create budget and monitor finances to ensure you keep to the budget. Manage resources.

Finance 276
article thumbnail

What Is an IT Budget? IT Budgeting Basics (Template Included)

ProjectManager.com

Information technology (IT) runs most businesses. This is a common budget cycle, though all budgets should be reviewed throughout the year. But those forecasts are estimates and to ensure that you keep to your IT budget, monitoring and tracking costs is imperative. You can’t manage your IT finances without an IT budget.

Budget 335
article thumbnail

Service Request Management in IT: Process & Best Practices

ProjectManager.com

When someone makes a request in the information technology (IT) world, whatever that might be, there’s a process involved to fulfill that request. It must work seamlessly with all involved departments, such as compliance, IT, marketing, finance and human resources. A team or department will review the request.

Process 313
article thumbnail

How to Create a Workflow Diagram for Your Project (Free Tools Included)

ProjectManager.com

However, they are now used in various industries, including finance, government and commerce. Business Modeling Notation: The business process modeling notation (BPMN) is similar to the UML, but is more likely used by technical and business people that focus on business process and information rather than output.

article thumbnail

Operational Efficiency: A Quick Guide

ProjectManager.com

This can be quickly calculated by dividing operating expenses by the total review and then multiplying that sum by 100. Naturally, training is important to make sure your workforce is up to speed with the latest technology in your market. As mentioned, you’ll want to review your work to ensure you’re improving.