Project Management - Why a Project Initiation Document is so Important in a Successful Project

Many people perceive that generating reams of documentation such as plans and reports are the key to delivering a successful project.. As experienced Project Managers will tell you, this is rarely the case except when it comes to the creation of one piece of project documentation; namely the Project Initiation Document.

Essentially the Project Initiation Document is the key reference document for a project. Think of it as the project "Bible" which will be constantly referred to throughout the project lifecycle when questions of scope and delivery approach are raised.

It is a project document in which is detailed everything related to the project such as:

* Project Definition
* Business Case which details why the project should be done
* Scope of what the Project is delivering
* Strategy to deliver the project
* Project Team structure and Governance

* Communications Plan
* Quality Plan
* Project Risks, Issues and Assumptions
* Project Controls
* Project Budget
* High Level Project Plan
* Project Exceptions criteria

External observers often think that Project Manager's fears about project scope are overdone, but scope creep is without a doubt one of the major reasons why projects fail. Anyone who has experienced a flood of Project Change Requests throughout a project will attest to that!

However having a detailed and accurate Project Initiation Document tends to stop the majority of such problems for the simple reason that when Business Stakeholders try to change Scope, it is easy to refer them back to the Project Initiation Document. Further since this document will have been formally Approved by the Project Stakeholders and other interested parties, it is hard for anyone to say that they didn't know what the project was going to be delivering.

It is for this reason that a Project Manager should spend time on what is admittedly not a straightforward nor simple document to write. The problem is that all too often Project Managers are tempted to skim over this document in their desire to get the project started as soon as possible to meet extremely tight deadlines. However by doing this they are simply storing up problems for the future and the very real possibility that they are initiating a project which will have no chance of succeeding.

So to give a project the best chance of successfully delivering, it pays to devote time to getting the Project Initiation Document written correctly and approved by all the Project Stakeholders to ensure the project approach and scope is agreed upfront.

sources:
http://www.my-project-management-expert.com/

www.wikipedia.com

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Find Your Target Market - Make Money Fast

If you want to know how to make money fast, the answer lies within your marketing. Promoting to anybody and everybody is not going to get the job done.Advertising and marketing will sum up the type of success your home business has. However, if you really want to make money fast, you need to find your target market.

Your target market consists of people who are interested in what you have to offer. These are people that are looking for your niche and want the product you have to offer. Although it will cut down the amount of people that see your ads, finding your target market will drastically increase your internet income.

You have probably heard before that there is no such thing as bad traffic. While this statement is true, there is such thing as wasted traffic. Promoting their business to anybody and everybody is a mistake far too many entrepreneurs make. The end result is they receive visitors who have no intention of buying anything or even staying that long.

As a result, you end up wasting several hours on marketing that is going to get you nowhere. Instead, why not focus your marketing efforts on a specific group of people? This can cut back on the amount of people you market to, but you want to make sure you still spend as much time promoting your home business opportunity as you are today.

You are probably wondering how you can go about finding your target market now that you know how to make money fast by finding your target market,. There are several different methods you can use to find that particular market to promote to.

One of the most effective methods is posting in forums. There are hundreds of forums on the internet to post in and many are geared toward specific categories or niches. This allows you to talk to people who are interested in the niche you are in. Instead of just putting up an ad, you will get the chance to actually talk to prospects and let them know who you are. This is the perfect opportunity to build relationships and gain the trust of people.

Another method you can look into is writing articles. By writing articles, you can then submit your articles to hundreds of different article directories. You will find various categories and sub-catergories within each directory that you can submit your article under. As people read your article, they can then make their way to your web site with the link you place in your resource box.

If you want to know how to make money fast on the internet, you need to begin focusing on your target market. It is a waste of your time advertising to anybody and everybody. Start finding your target market and putting your time to better use.

SOURCES

http://www.wcgem.com

WWW.wikipedia.com

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How to Respond to Positive/Negative Mentions of your Brand

Publicity ISN'T always good publicity, and in an age where information, good or bad, spreads like wildfire, it's important to know how to respond to publicity on the internet to avoid nasty exposure and capitalise on positive comments. In order for you to build a Google CV that will see your name / brand name off to a good start it is essential that you respond to and manage all negative and positive comments on the web.

As bloggers aren't necessarily professional journalists, you may find yourself defending your brand against false allegations, or being praised outright.
Here are some pointers on how to respond to positive and negative mentions of your brand:

DO
• Use the opportunity to spark up conversation, increase your online presence and convince any negative blogger/commenter to see your side of the argument. • Set the record straight with the truth if the publicity is incorrect.
• Be responsive and don't let any press pass you by (a bit of online reputation management will ensure that this doesn't happen).
• Use the opportunity to receive honest feedback. Enquire about the details for the positive or negativity and you'll be one step closer to perfecting your product or service.
• Drown it out. Sometimes it's impossible to change opinions or have negative comments removed - and if this bad press appears at the top of your Google CV, then it's imperative that you do something about it as soon as possible. Create content that will overshadow the negative press, and hopefully push it down the ranks to a less noticeable position.
• Distinguish yourself from others with the same name who are receiving bad publicity.
• If all else fails when taking care of negative publicity, compile a formal press release featuring the correct information and syndicate online (but be sure not to draw unintentional attention to the bad press).
• Publicise positive mentions of your brand via social bookmarking to increase your web presence.

DON'T

• Don't pretend to be someone else and try to change opinions or praise your own brand. Not only is this morally questionable, but it is easily spotted, and can end in disaster.
• Don't try and censor a blogger. Bloggers really don't like this, and this could end up in an all-out war.
• Don't discuss your competitors. If it's not their argument, leave them out or you may see an extremely nasty situation unfold.
• Stand up for yourself, but never lose your cool and/or retaliate… Never.
• Legal counsel may come in handy, but only as a last resort - never use legal back up as a threat.

The bottom line: The internet is a medium that facilitates communications, connections and opinions. Use it to the best of your ability and you will see a sparkling set of results when a search is conducted for your name. But be patient - as these listings are organic and not paid for it will take time.

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Joint Venture - websites and small local businesses

If you've done any kind of research about starting a business or helping your new business to grow, you've probably run across the term "joint venture" or "JV." A joint venture is a means of partnering with someone else for specific business reasons, such as to build upon each other's strengths or to enter into a new market. When two entities enter into a joint venture agreement, they create a whole new entity.

The term joint venture does not in fact refer to this new entity but to the reason for the partnership. Also, there are no legal limits on who can enter into a JV - anyone can, including individuals, corporations, websites and small local businesses.

The most common type of joint venture is between two large companies. They enter into them most often to break into a new or specific market. There are countries that demand any foreign interest entering their economy first enter into a JV with a native company. Still, even if it's not a prerequisite, foreign companies can greatly benefit from having an interested party located in-country. The local office can keep a better eye on the social, economic and political situations there.

Even when a JV isn't a requirement, they can give a company a great advantage - as long as they are carefully considered. Small companies often enter into joint ventures in order to take advantage of skills, management styles and even the customer bases of larger, better established companies.

Let's take an example: You run a computer sales store but don't offer computer repair services. Your customers continue to ask about these services, and you repeatedly turn them away, recommending the guy who owns the little repair shop down the street. You realize that you could both benefit by creating a business partnership and he agrees to your joint venture idea. You both benefit. You no longer turn customers away, and he gets all the business plus a cut of the profits.

Joint ventures can be a wonderful tool for business, but they can be a disaster as well if they aren't properly planned out. Successful JVs usually comprise two companies with a combination of five characteristics: 1) Persistence; 2) Creativity; 3) Negotiation Skills; 4) Client Relationship Skills and 5) Visualization Skills.

Creativity is one of the most important of these characteristics. You must be able to think outside the box to see many different ways your business could benefit from a joint venture - and all the different joint ventures your business could fit into. For more detail visit www.joint-venture-guide.com there are possibilities for just about anyone who's interested - provided that you know where and how to look for them. It's also important to be creative when explaining your plan to a potential partner - you don't want them falling asleep on you.

Persistence is particularly important when you first approach your potential partners. Small businesses have a lot going on, for more detail visit www.joint-ventures-secret.com and the owners can forget you if you're not careful. You might also have to explain what a joint venture is if they don't already know.

You need to expect a lot of negotiation with your partner while you're laying out your business plan and detailed agreement documents. You want to protect your interests, and of course your partner wants exactly the same thing. Sometimes you will disagree, and you must be willing to show determination and not give in to undesirable conditions. You must be prepared for some serious discussion.

www.jointwebventures.com

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Home Business Opportunities on the Internet - Scam or Not?

Choosing a home business opportunity on the internet may be difficult because there are so many to choose from and you may not be sure if they are legitimate or not. There are several opportunities that may help provide an income while working from home. These opportunities offer varying products and compensation plans.

The problem when seeking to start a business online is the fact that some of the opportunities claim that you can earn big money very quickly. These opportunities should be avoided. You should not spend your hard earned money on "get rich quick" schemes. Opportunities that are worthwhile getting involved in require real work to earn money.

There may be some costs when running a home business but it does not have to cost a fortune. If you want to build a business quicker, you may want to spend some money on advertising. However, if you are on a tight budget, there are several free ways to advertise also. Until there is some money coming in, using the free options may be the best thing to do.

You should check for honesty and integrity when looking into an internet business opportunity. Investigate to see how long the company has been in business. If the company claims that you will be rich within a short period of time, it is probably too good to be true. If a company suggests that you will actually have to do some work in order to earn money, their opportunity is probably a legitimate one.

There definitely IS money to be made on the internet. You just have to do your research first. Once you find a legitimate opportunity that you feel passionate about, you just have to market the website that the company may provide and get visitors to your site. Generating traffic for sales and building a list of prospects are important for the success of your business.

When you decide to start a home business, be prepared to put forth the time and effort needed to make it a successful one. Prepare a budget and a schedule and make sure to stick to them. Give yourself several months to grow your home business and start earning money. You'll be glad you did.

For more information about a legitimate business opportunity working with a company that has been in business for over 50 years, visit: http://www.myinfinitysystem.com/sparklinenterprises

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17 Ideas You Can Steal to Grow Your Business Without Spending Money. by Liz Walker

This week we're sharing what we call "ideas to steal". They are all real-life ideas from successful businesses — action steps you can pick up and run with right away, without having to research, test or otherwise delay implementing. And, you don't need to spend money to do them.

Pick three that you can sink your teeth into, and don't hesitate to contact us if you want more information or help implementing them — these days we all have to work together.

- Bill faster. Your receivables can count for 40 - 50% of your actual assets. Don't batch invoice: bill as soon as you can.

- Simplify your business. Weed out the unprofitable and the hard-to-sell.

- Simplify your marketing message.

- Get your business and your web site listed in relevant directories. To find directories, Google the name of your town plus "directories url" (e.g. "cobourg directories url").

- Learn to delegate. Figure out what you do that turns dollars. Then delegate the rest.

- Encourage employees to explore more efficient approaches to their tasks instead of relying on their standard way of doing things.

- Don't forget suppliers. They might not be on your payroll, but they are more apt to do a few things for you at no charge because you really take care of them.

- Work faster. If you can condense three four-month jobs into three three-month jobs, you can do one more job in the year.

- Reward your team for meeting budgets and time lines. A 5% bonus is cheaper than a 20% increase in costs.

- Cut overhead by automating most of the non-producing items like accounting, customer care, voice mail, sales reporting, ordering and record keeping.

- Make sure you've clearly outlined project scope, and don't be afraid to charge your customer for changes.

- Offer to be a spokesperson on your specialty when your local media need an expert opinion. Send them a relevant press release every month.

- Give something valuable away on your web site; at your front counter; when you send out your invoices; when you deliver goods. This should be free to you, but valuable to the recipient, for example, coupons or a "How To".

- Highlight offers, features, promotions and news in your email footers, invoices and letter signatures.

- Start accounts with Twitter.com, Facebook.com and LinkedIn.com and post articles.

- Go where your audience is on the web. If your potential audience hangs out on forums, then post to those forums. Become a trusted advisor.

- Get your supporters to refer you.
author
Marketing Masters, Ken & Liz are Duct Tape Marketing Authorized Coaches and authors of The Buzz. http://www.marketingmasters.ca

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