ROM (Rough Order of Magnitude) and Definitive estimation are budgeting parameters and commonly used terms n project management. This blog post will discuss these concepts and the difference between them; i.e., ROM Vs Definitive Estimate. The budget is one of the most important parameters of a project, and it is also a deciding factor in …
The critical path method and critical chain method represent schedule network diagramming techniques used in developing the project schedule. This post will discuss the difference between these two diagramming techniques, i.e. critical path vs critical chain method. The critical path method is the oldest technique, while the critical chain method is a relatively new and …
This post will discuss the technological factors affecting the business. The business landscape is constantly in flux, propelled by the dynamic and ever-changing environment. Within this complicated tapestry, numerous factors exert their influence; among them, technological factors hold a prominent position. The PESTLE analysis is a valuable tool to assess the external forces impacting the …
The STEEPLE analysis framework helps businesses scan the environment and shape their long-term strategies. STEEPLE stands for Social, Technological, Economical, Environmental, Political, Legal, and Ethical threats. Although time-consuming and resource-intensive, this analysis enables businesses to understand external factors impacting their objectives. It aids in strategic planning, problem-solving, and improving products/services. Business analysts employ STEEPLE analysis …