Category: Finance

Why Customer Satisfaction is the Most Important Metrics in Project Management?

Here are 20 reasons why customer satisfaction is the most important metric in project management:

  1. Knowledge TrainCustomer Perception of Project Success or Failure Dictates Future Work Opportunities
  2. Closely-Tied to Economic, Financial and Regulatory Fortunes of your Company
  3. It is More Important Than Other Metrics such as Cost, Schedule and Scope because it Reflects a Unique Perspective from Client’s Customers, Partners and Owners
  4. Because a Large Portion of PMOs Budget Expenditures on Surveys that Measure Customer Satisfaction but Are Not Directly Linked to Financial Performance Indicators (KPIs) such as Leads generation, Sales Assignments and Contract Changes
  5. Because Companies Spend Millions on Efforts to Improve their Customer Satisfaction Performance but Do Not Have Single Standard Method of Measuring it
  6. Because Customer Satisfaction is a Precursor Measure Which Predicts the Success or Failure of the Company’s Business Units, All Projects, Programs and Portfolios Managed by That PMO
  7. Because No Project Manager Can Override His/Her Organization Overall Perception about his/her Project based on the Data Collected about Level of Customer Satisfaction Those Customers Have With Projects in that Organization
  8. Because Having Clear Understanding of Your Customer’s Needs Adds Up to 50% to Your Revenues from New Contracts Compared to Projects Where there was No such Work
  9. Because High Levels of Satisfaction Are Associated with Shift From Cost to Fixed Fee Pricing
  10. Because High Levels of Customer Satisfaction are Associated with Increased Number of Projects, Programs and Portfolios Managed by That PMO, Which In Turn Increases the Size of Contracts and Number of Customers Serviced by that PMO
  11. Because there is No Project Manager Who Can Override Data Regarding Degree of Customer Satisfaction Provided by His/Her Own Customers
  12. Because High Levels of Customer Satisfaction Are Linked to Lower Cost Per Project, Program or Portfolio Work Performed for a Specific Client
  13. Because Close Ties With Clients Increase Your Revenues Due to Stronger Competitive Positioning as well as from Additional Multi-Year Contract Extensions that Provide for Start-Up Funds on New Projects
  14. Because More and Better Projects Are Awarded to Companies with High Levels of Customer Satisfaction
  15. Because Greater Degree of Customer Satisfaction is Associated with Higher Project Budget Compared to Projects Where there was Lesser Degree of Satisfaction
  16. Because When Completed on Time, On Budget and With High Quality, High Degree of Customer Satisfaction Should Be the Result in Most Cases So It Was Properly Executed (Otherwise it should be Prioritized as an Exception)
  17. Because Close Ties With Clients Generate New Sales Opportunities Which Overcome Lost Revenue from Cancelled Contracts Which were Previously Supported by On-Going Activities
  18. Because Close Ties With Clients Increase Your Company’s Market Share Leading to Avoidance of Competitors’ Fees
  19. Because Long Term High Levels of Customer Satisfaction May Overcome a Company’s Historically Abnormal Performance in Other Budget Expenditures or Projects Failures
  20. Because High Degree of Customer Satisfaction Is Associated with Greater Opportunities for Growth in Revenue and Market Share Thanks to the Favorable Perception about Your Company

How to Minimize and Prevent Mold Growth on Decks

Mold growth on decks or concrete surfaces can be a challenging problem to solve. Mold has the ability grow anywhere moisture is present and a food source for mold is available. Mold spores are microscopic so it is difficult to see them growing unless you have a magnifying glass or microscope as well as a trained eye for what mold looks like.

For information on your particular type of deck surface, try searching the internet for “mold-resistant” [product name] to find out if that material can help protect against mold growth. Alternatively, you could test one small area with distilled vinegar which will kill most types of mold within 2 hours if applied directly onto the affected area (see below). If no signs of mold growth appear after 3 more days, the area is probably not contaminated with mold.

If you already have a surface that allows for mold to grow, it’s best to prevent mold growth from occurring by minimizing or eliminating any possible source of mildew-causing moisture. Below are some tips on how to do this:

Make sure all deck boards and trim are sealed tightly so no water seeps underneath them into the wood itself where it can cause damage and eventually lead to mold growth.

Examine all caulking around your deck annually during fall/winter months when temperatures are cooler and less likely to condensation issues occur. Replace or repair any caulking that is cracked, peeling, missing, deteriorated or has become discolored (typically brownish in color).

Be especially careful to examine caulking around the perimeter of your deck and any area that gets lots of water runoff from rain or snow melting off your roof. Always wash down/clean up any leaves, dirt or other debris which may have accumulated on your deck in a timely fashion so they do not rot and become a food source for mold. Water left standing on decks can also lead to mildew/mold growth so it’s best to keep things dry whenever possible.

If you live in an area with high humidity levels during hot summer months, think about installing a whole-house ventilation fan as this will help bring more fresh outside air into your home (as opposed to moist inside air). In addition, you could open windows and doors throughout the house while the fan is on to further promote air circulation.

Always try to keep your house well-ventilated in general, especially during winter months when you’re not able to open windows as much because of cold weather and high energy costs. If installing a ventilation fan is not possible or if outside humidity levels are still too high despite the use of a whole-house fan, have door & window screens installed on all windows (if this hasn’t been done already).

Take 1/2 cup of distilled white vinegar and pour into spray bottle that has been filled with water until no air remains inside the bottle (do not use tap water). Spray solution onto affected areas until wet but not dripping wet. Let solution sit on affected area for at least 10 minutes before you wipe clean with a lint-free rag/towel.

Project Management Automation: How To Choose And Implement The Right System

Companies whose employees carry out project activities need to be managed – and preferably efficiently. If projects do not require large financial investments and active teamwork, then management can be fragmented and haphazard, which is bad for business. Practice shows that companies usually implement several projects at the same time. And, as a rule, the same people are involved in this. Automation of Kendo Free Self-hosted project management for companies will greatly facilitate the work of employees and increase the efficiency of activities.

More and more often, a virtual environment is used for project management. This is due to the need to increase the human potential for solving unique problems. The hour is not far off when Russia will begin to experience a shortage of responsible resources; in other words, there will be a need for highly qualified specialists capable of solving the project’s tasks. This will lead to the fact that the project teams will need to be put into virtual mode. This trend cannot be hindered by any restrictions (neither linguistic nor cultural).

Goals and objectives of automation of project management of the company

The system pursues rather “high” goals:

  1. Increase in the efficiency of employees carrying out project activities.
  2. Improving the quality of the work of managers in project management.
  3. Increase in the efficiency of project management of the company in progress (adherence to the budget, reduce costs and deliver more projects on time).

Achieving these goals is impossible without the availability of certain tools. Without going into the details of the description of the functionality, we can say that the automation of project management should solve the following tasks:

  • Developing a plan. Risks are taken into account, a work schedule is drawn up based on available resources and limitations, control points are set, and financial and economic calculations are carried out. When changing indicators, it is possible to quickly adjust the plan. In other words, you can analyze the possible scenarios for the development of events.
  • Document flow and storage of documents. The main thing is to choose a program that will not complicate but will facilitate project management.
  • Communication and information. The creation of a single information space is the main task of automation. The quality of project management depends on the promptness of the exchange of corporate information. Moreover, this applies not only to internal but external communication (suppliers and customers).
  • Exercise control. Automation of project management allows you to comprehensively control the work: the head – subordinates, managers – the state of processes, the director – the stages of project implementation.
  • The efficiency of management decisions. The ability to quickly obtain the necessary data and possess information about the current state of affairs can speed up the decision-making process.

In summary, project management automation in an organization produces the following results:

  • Project implementation is accelerated.
  • The efficiency of project management is increased.
  • The use of the organization’s resources is optimized.
  • The communicative connection between the participants in the project activity is improved.
  • The efficiency of managing not only employees but also their workload increases.

Most of the modern programs that automate project management are easily integrated with other systems and make teamwork more coherent. For example, if you use an automated system, the function of sending emails is standardized, remote work is possible (via a browser or a mobile application), and the preparation of customized reports.

Thanks to management automation, it becomes possible to structure risks at least a little, although this process is practically not amenable to optimization. The system is able to warn of risk, for example, in financial matters or disruption of supplies.

In The Midst Of Financial Stress, What Is The Way Out?

For several reasons, you may experience financial stress. Perhaps you have had unforeseen events requiring you to pay an amount of money that you did not foresee, have spent too much or are unable to work due to an illness? Financial stress means that you feel an inability to “make ends meet”, that you may even be discouraged and helpless about your situation.

Did you know you are not alone? One in two adult feels financial stress. It is likely that the mere act of discussing finance is crippling, but to see a way out of this stormy road, you have to take big or small steps.

Identify your source of stress

What is causing you stress? Is it that you can’t put money aside, have you used up your hard-earned emergency funds, do you have any upcoming expenses? To fully understand the source, you have to get to the bottom of it and explore your problem to fix it.

Create a budget

Take stock of all your income and expenses, then revise it to suit your needs. Do not hesitate to ask for the help of one of our professionals to revise your budget. Never fall into the trap of credit offers since this will increase your debt and thus, the tension felt in your situation.

Pay attention to your expenses

By the time your situation gets back under control, allow yourself a certain period of time, buying only what you need and paying off your debts as much as possible. Your budget will go a long way to helping you get a picture of your situation. Now is the time to take action!

Save money

Once your financial situation is “under control”, prevent stress from returning by better planning for the unexpected. By putting money aside, you will better cope with the unforeseen and the blow will be better amortized if you have money for a future purchase / investment.

Things You Didn’t Know About Financial Bankruptcy

When all other options are no longer available, bankruptcy is a last resort that allows you to prevent the situation from worsening and finally regain control of your life. It is, in other words, a whole new start to regaining good financial health.

In many cases, almost no property is seized in bankruptcy.

Indeed, declaring bankruptcy does not mean that you will lose everything. Whatever happens, you will keep the essentials in order to maintain a reasonable standard of living. You will pay a sum of money monthly according to your income and the assets you want to preserve. You will not lose the instruments and tools essential for your work and you will keep the necessary furniture in your main residence. In fact, filing for personal bankruptcy interrupts foreclosure proceedings as well as any legal proceedings against you.

A first bankruptcy lasts approximately 9 months in Canada

Although several factors affect the longevity of bankruptcy, it is usually of limited duration. However, if you have not followed your conditions, your bankruptcy may well take longer. In particular, you will need to complete the required payments to your trustee and attend at least two consultation sessions.

You don’t have to do the same if your spouse has declared bankruptcy

You are in no way responsible for the debts of others due to a common-law relationship or through marriage.

You are no longer allowed to own credit cards

The law requires that you surrender all your credit cards to the trustee in bankruptcy, regardless of whether there is a balance owing or not. You are not entitled to any credit during this period.

To find out more or for more advice, do not hesitate to consult us and do business with our team of professionals.

Things To Do With Your Tax Refund To Put Your Finances In Order

Spring doesn’t just bring milder weather, it’s also tax refund season. However, while this influx of money may turn out to be a temptation to spoil, it is also an opportunity to put your finances in order.

Pay your debts

Deciding to postpone paying off your debts is just about making yourself even poorer. After all, with the high interest, it is better to pay off your credit card, your car loan or even the mortgage as soon as you have a surplus in your budget.

Undertake renovations

Although this is a long-term investment, undertaking renovations could not only allow you to refresh your interior, but also qualify for the green tax credit and receive a refund of up to at 20%.

With this in mind, we invite you to consult our latest articles in order to discover other practical advice to restore your finances and allow you to optimize your savings.