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IT Financial Management (ITFM) Best Practices

Information technology (IT) has found its way into almost every aspect of our lives, both professionally and personally. What we might take for granted actually involves a great deal of work and investment. IT financial management (ITFM) covers the costs of keeping our network, servers and devices running. IT financial management is a bit more complicated than that and we’ll explain by more thoroughly defining the term.

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Capital Projects: Capital Planning, Budgeting and Funding

When governments or corporations make large investments, they don’t do so without serious planning. There’s a lot of money involved in these capital projects and that means getting the funding and allocating the finances wisely. Let’s take a look at capital projects, explore the idea of a capital asset and delve into the process of capital planning.

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Cost Performance Index (CPI) In Project Management

Projects cost money. Everyone knows that. But what’s harder to discern is if the project is worth the investment. The last thing stakeholders want is to discover the project isn’t financially effective. That’s where the cost performance index comes in. We’ll discuss what the cost performance index does and how it does it below. We’ll share the formula for calculating the cost performance index in project management and even provide an example to better illustrate how it works.

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Bug Report: Example, Template & Best Practices

Developing software, like any project, is complicated and littered with roadblocks. One of those roadblocks is a bug. A bug is a problem with a feature or the functionality of the software, which needs to be fixed before it can be shipped to customers. A bug relies on a bug report to get that process started. Before we dive into how to make a bug report, let’s go deeper into the definition of a bug report and why it’s so important to software development.

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Eisenhower Matrix: Identifying Important vs. Urgent Tasks

Managing a project is basically making decisions. There are many tasks, but not all tasks are created equal. This means that a project manager must be able to make decisions about the priority of each and often use the Eisenhower matrix to help them make those important decisions. The Eisenhower matrix is an important tool for project management. We’ll define it, see how it helps project managers determine what’s important vs. urgent and explain how to make and use the Eisenhower matrix wh

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Post-Construction Phase: How to Close a Construction Project

Projects don’t end with the final deliverable. There’s paperwork to sign off on, teams to be released and more administrative loose ends to tie up. This is doubly true with construction projects in what’s called post-construction. What is post-construction? We’ll answer that first and then explain what activities occur during post-construction and the various types of documentation that are used.

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Smart Manufacturing: Examples & Benefits

Often the adjective “smart” is just a marketing ploy. Is your smartphone really that intelligent or is it just an example of advanced technology? Not that there’s anything wrong with being technologically advanced. Would you want to give up the advantages of your smartphone? Smart manufacturing is the same thing; it’s a way to produce better with emerging technologies.