From this article, you will learn what a project charter is and why you need one. The key elements that make a successful project charter and how you can implement these elements using our free Project Charter Template.
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What does a Formula 1 racing team, like Ferrari, have in common with a high-flying company, like Apple?
They’re both in highly competitive industries? They’re both focused on improving their performance? They’re both incredibly driven to succeed? They’re both intent on being the best in the world?
Yes, yes, yes, and yes.
In other words, they both strive, in everything they do, to achieve Operational Excellence (Op Ex). However, achieving Operational Excellence is far from easy, and (fortunately for Apple and Ferrari) only 36% of companies manage it.
So, buckle up and join this Process Street post, as we race through the following topics and learn, from the likes of Ferrari, Apple, Disney, and Google, how to become operationally excellent:
If there’s one thing the COVID-19 pandemic has taught the world of business (apart from that remote work is the future), it’s this: We aren’t prepared for disruption.
Supply chains, in particular, suffered a massive shockwave, with supermarkets, shops, and services being unable to operate the way they did before the virus struck. In fact, more than 3,000 suppliers in China were driven to force majeure declarations in the first few months alone.
As the world moves toward a new normal, you’ll be thinking about disruption and risk a lot more than you had done previously.
For businesses using suppliers, it’s necessary – now more so than ever – to establish a stellar procurement process to ensure goods and/or services can always be secured, no matter if micro (small, every day) and macro (large, extraordinary) disruptions happen.
That’s why, in this post, I’ll be discussing what the procurement process is, the benefits a documented and solid process brings, what the flow of a robust procurement process looks like, and how Process Street can help.
Read through the below sections to get up-to-date:
After the Second World War, Japan was faced with tremendous infrastructural damage and needed to begin the long, difficult process of repairing pretty much everything. During this time, Allied forces occupied Japan and oversaw the process of reparation – many American experts were enlisted to aid in the efforts to rebuild Japan’s economy and infrastructure, while at the same time ensuring no military force was re-established.
Among those enlisted was W. Edwards Deming (of the Deming Cycle and PDCA fame). One of the early goals was to begin production of new radios; the problem was, new management was unskilled, production facilities and raw materials were in short supply, and quality management was a big issue.
Long story short, Deming helped to spearhead the establishment of quality control initiatives focusing on top-level management taking responsibility for clearly defining quality policy and procedures. This kind of quality control framework came to be known as Hoshin Kanri, and it eventually proliferated beyond Japan and over to America and the rest of the globe.
A 2020 report by the IPMA Organisational Competence Baseline (IPMA OCB) explained that to execute business vision, mission, and strategy, implementation of the Hoshin Kanri approach – also referred to as Hoshin planning – is vital for lean and strategic management, and for future-proofing a business.
Buyer journeys are becoming more and more complex, not to mention competitive. To stay afloat, you should maximize every interaction you make with each potential customer. You need to focus on building meaningful relationships with your prospects through consistent personal interactions.
That is exactly what sales engagement is and, coincidentally, what this Process Street post is all about.
In this article, we’ll talk about the importance of sales engagement and give you some tips on how to get started. This is a brief overview of what’s to come:
Tom: “I need a new warm, down jacket for my next trip.”
Me: “Great, I would opt for Patagonia or Arcteryx.”
Why did I recommend these brands to Tom and these brands only?
It is due to brand trust. I know these brands deliver exactly what I want consistently.
As consumers, Tom and I are Patagonia and Arcteryx stakeholders. We have expectations these two outdoor brands need to satisfy to retain our custom. These expectations translate into requirements. In this scenario, our requirements were:
Value for money
Robust, long-lasting products
Products that deliver on their intention
Patagonia and Arcteryx meet the business requirements for their products, satisfying stakeholder and business needs. And so the brands thrive with a good reputation, brand identity, leading to a healthy bottom-line and company success.
Defining the business requirements of a new product, project, system, service, or software is vital. Without defined requirements, there is an absence of clear goals, focus, and progression measures. This doesn’t bode well for success.
Because we don’t want you to fail, in this Process Street article we explain exactly what business requirements are and how you can identify them for your business or line of work. We explain the benefits that come from correctly defining business requirements. We then clarify how you can document business requirements in a Business Requirements Document using Process Street’s Business Requirements Template.
Sounds like the article you need to read to succeed…right? 😉
As such, let’s jump to it. Click on the relevant subheaders below to hop-across to that section. Alternatively, scroll down to read all we have to say:
Following a pre-planned meeting agenda can decrease meeting time by 80%.
Despite this, less than half (37%) of U.S. meetings follow a set agenda.
Why, when the time savings of doing so are substantial? When time = money, it doesn’t take a genius to visualize the knock-on effects this has to an organization’s bottom-line.
Using a Meeting Minutes Template will establish processes to clearly define and set the meeting agenda before the meeting has begun, saving you both time and money.
In addition, a Meeting Minutes Template offers legal protection, provides meeting structure, documents state ownership, drives action, serves as a reference point, helps avoid repetition, and offers a platform for open communication.
Sounds good right?
So good that the content creation team here at Process Street give you this comprehensive guide, so you can effectively record meeting minutes in your business and line of work. You are provided with our free Meeting Minutes Template, to be used in conjunction with 3 more top meeting process templates.
Click on the relevant subheader below to hop to that section. Alternatively, read all to discover our secrets for how you can become a pro meetings note taker 🤓.
Yet the cost of project failures is staggering. Failed IT projects alone cost the United States around $150 billion in lost revenue and productivity. And it’s frightening! Failure scares us all.
But, the good news is, failure, and how it affects you and your project’s overall success and profitability is controllable. If you can catch, or even predict, failures early enough, you can execute damage control measures and prevent them from completely derailing your project and its profitability. You can even use them to improve your project.
How can you catch or predict failures early?
By using a project tracker.
A project tracker is a snapshot of your entire project. It gives you and the project team a clear picture of how the project is performing, where the weak spots are, and which areas need the most attention.
Let me explain this concept further by taking you through the following topics in this Process Street article: