Business Studies Notes

Types of Project Selection Models – Non-Numeric & Numeric Methods Explained

In project management, choosing the right project is just as important as executing it well. Organizations receive numerous project proposals at any given time, but not all of them align…

Faizan Ali

Project Management

Types of Feasibility in Project Management Explained

Before starting any project, it is important to evaluate whether the idea is practical, achievable, and beneficial. This evaluation is done through feasibility analysis. Different types of feasibility help organizations…

Faizan Ali

Project Management

Statement of Work (SOW) | Definition | Types | Importance | Uses

Statement of Work (SOW) is one of the most important documents in project management because it clearly defines what work needs to be done. A well-prepared SOW helps avoid confusion,…

Faizan Ali

Project Management

Project Management Methodologies | Evolution | Types | Importance

Project management methodologies have evolved significantly over time as organizations faced increasing complexity, competition, and changing market conditions. In earlier years, there were very few structured approaches to managing projects,…

Faizan Ali

Project Management

Project Life Cycle | Phases | Process | Characteristics | Importance

Every project, program, or product follows a specific life cycle that includes different phases of development. These phases help organizations manage projects in a structured way from the initial idea…

Faizan Ali

Project Management

Project Feasibility Analysis | Process | Importance | Scope | Components

Starting a new project without proper evaluation can be risky. A project may look attractive in the beginning, but it may fail later because of weak demand, high cost, technical…

Faizan Ali

Auditing

What are the Duties of an Auditor

The auditor is responsible for the detection and prevention of errors and frauds, although this responsibility is limited to exercising reasonable skill and care. He understands his duty to identify…