Availability = Operating Time / Planned Production Time
Performance = Ideal Cycle Time / (Operating Time / Total Pieces)
Quality = Good Pieces / Total Pieces

OEE = Availability x Performance x Quality

PRINCE2 is a structured approach to project management, released in 1996 as a generic project management method. It combined the original PROMPT methodology (which evolved into the PRINCE methodology) with IBM’s MITP (managing the implementation of the total project) methodology. PRINCE2 provides a method for managing projects within a clearly defined framework. PRINCE2 describes procedures to coordinate people and activities in a project, how to design and supervise the project, and what to do if the project has to be adjusted if it does not develop as planned. “PRINCE2″ refers to the second major version of this method and is a registered trademark of the Office of Government Commerce (OGC), an independent office of HM Treasury of the United Kingdom.

In the method, each process is specified with its key inputs and outputs and with specific goals and activities to be carried out. This allows for automatic control of any deviations from the plan. Divided into manageable stages, the method enables an efficient control of resources. On the basis of close monitoring, the project can be carried out in a controlled and organized way.

PRINCE2 provides a common language for all participants in the project. The various management roles and responsibilities involved in a project are fully described and are adaptable to suit the complexity of the project and skills of the organization

PRINCE2 is a process-driven project management method which contrasts with reactive/adaptive methods such as Scrum. PRINCE2 2009 defines 40 separate activities and organizes these into seven processes.

The key features of PRINCE2 are:
•Its focus on business justification
•A defined organisation structure for the project management team
•Its product-based planning approach
•Its emphasis on dividing the project into manageable and controllable stages
•Its flexibility to be applied at a level appropriate to the project

The key advantages of using Prince2 are:
•Minimised risk of project failure
•Reduced waste and increased productivity
•Higher levels of customer satisfaction
•Confidence to take on all change programmes

Protection
Insurance, Will and Power Of Attorney’s
Debt Reduction
Emergency Savings
Savings
Home and RRSP, TFSA
Wealth Building
Non-Registered Investment
Speculation
Real Estate, Art, Collectibles

1. Division of Work – The specialization of the workforce according to the skills a person , creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour. By separating a small part of work, the workers speed and accuracy in its performance increases. This principle is applicable to both technical as well as managerial work.

2. Authority and Responsibility- The issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give order to his subordinates; responsibility means obligation for performance. This principle suggests that there must be parity between authority and responsibility.. They are co-existent and go together, and are two sides of the same coin.

3. Discipline- Discipline refers to obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations.

4. Unity of Command – This principle states that every subordinate should receive orders and be accountable to one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict. Unity of Command also makes it easier to fix responsibility for mistakes.

5. Unity of Direction – All those working in the same line of activity must understand and pursue the same objectives. All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager. It seeks to ensure unity of action, focusing of efforts and coordination of strength.

6. Subordination of Individual Interest The management must put aside personal considerations and put company objectives first. Therefore the interests of goals of the organization must prevail over the personal interests of individuals.

7. Remuneration – Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity. The quantum and methods of remuneration payable should be fair, reasonable and rewarding of effort.

8. The Degree of Centralization – The amount of power wielded with the central management depends on company size. Centralization implies the concentration of decision making authority at the top management. Sharing of authority with lower levels is called decentralization. The organization should strive to achieve a proper balance.

9. Scalar Chain – Scalar Chain refers to the chain of superiors ranging from top management to the lowest rank. The principle suggests that there should be a clear line of authority from top to bottom linking all managers at all levels. It is considered a chain of command. It involves a concept called a “gang plank” using which a subordinate may contact a superior or his superior in case of an emergency,defying the hierarchy of control.However the immediate superiors must be informed about the matter

10. Order – Social order ensures the fluid operation of a company through authoritative procedure. Material order ensures safety and efficiency in the workplace.

11. Equity – Employees must be treated kindly, and justice must be enacted to ensure a just workplace. Managers should be fair and impartial when dealing with employees.

12. Stability of Tenure of Personnel – The period of service should not be too short and employees should not be moved from positions frequently. An employee cannot render useful service if he is removed before he becomes accustomed to the work assigned to him.

13. Initiative – Using the initiative of employees can add strength and new ideas to an organization. Initiative on the part of employees is a source of strength for the organization because it provides new and better ideas. Employees are likely to take greater interest in the functioning of the organization.

14. Esprit de Corps – This refers to the need of managers to ensure and develop morale in the workplace; individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding. These can be used to initiate and aid the processes of change, organization, decision making, skill management and the overall view of the management function.

Fayol also divided the management function into five key roles:

* To organise

* To plan and forecast (Prevoyance)

 * To command

* To control

In 1967, psychiatrists Thomas Holmes and Richard Rahe decided to study whether or not stress contributes to illness. They surveyed more than 5,000 medical patients and asked them to say whether they had experience any of a series of 43 life events in the previous two years.

Each event, called a Life Change Unit (LCU), had a different “weight” for stress. The more events the patient added up, the higher the score. The higher the score, and the larger the weight of each event, the more likely the patient was to become ill.

Life Event Value Check if this applies

1 Death of spouse    100 
2 Divorce    73 
3 Marital separation   65 
4 Jail term    63 
5 Death of close family member  63 
6 Personal injury or illness   53 
7 Marriage    50 
8 Fired at work    47 
9 Marital reconciliation   45 
10 Retirement    45 
11 Change in health of family member 44 
12 Pregnancy    40 
13 Sex difficulties    39 
14 Gain of new family member  39 
15 Business readjustment   39 
16 Change in financial state   38 
17 Death of close friend   37 
18 Change to a different line of work  36 
19 Change in number of arguments with spouse 35 
20 A large mortgage or loan  31 
21 Foreclosure of mortgage or loan  30 
22 Change in responsibilities at work  29 
23 Son or daughter leaving home  29 
24 Trouble with in-laws   29 
25 Outstanding personal achievement 28 
26 Spouse begins or stops work  26 
27 Begin or end school/college  26 
28 Change in living conditions  25 
29 Revision of personal habits  24 
30 Trouble with boss   23 
31 Change in work hours or conditions 20 
32 Change in residence   20 
33 Change in school/college  20 
34 Change in recreation   19 
35 Change in church activities  19 
36 Change in social activities  18 
37 A moderate loan or mortgage  17 
38 Change in sleeping habits  16 
39 Change in number of family get-togethers 15 
40 Change in eating habits   15 
41 Vacation    13 
42 Christmas    12 
43 Minor violations of the law  11

Sum all the numbers which are applicable to you.
Score Comment
300+ You have a high or very high risk of becoming ill in the near future.
150-299 You have a moderate to high chance of becoming ill in the near future.
<150 You have only a low to moderate chance of becoming ill in the near future.
Warning: Stress can cause severe health problems and, in extreme cases, can cause death

The project manager must continuously develop effective leadership skills and employ them as needed during the project cycle. The visible expression of leadership skills for the project team and stakeholders is via leadership behaviours. These leadership behaviours are used as needed when building the project team as well as during the project lifecycle.

A project manager should exhibit two types of leadership as described earlier in this article. These are transactional and transformational. The leader should guide the team members by identifying their roles and responsibilities for the project. In addition, he should inspire the team members to successfully complete the project tasks for the good of the project. “The best project managers are outstanding leaders. They have vision, they motivate, they bring people together, and, most of all, they accomplish great things”

Project managers must have integrity-honesty and trustworthiness. A key success factor is getting members of a team to trust each other and trust the project manager in order to work well with each other. When indecision or conflict arises, if the project manager is considered to have integrity, the others will accept his actions more easily. ” He will be regarded as having made the decision that best serves the interests of the project and harmony will prevail” according to Martin

Project managers must have competence with the project technology and business management. Those working on the project and the administration above him will respect him and have more confidence in his abilities to make the correct decisions for the project . Basic management skills with competence in business management are a necessity. The project must be managed using good management techniques that are consistent with the organization’s management style.

Other key characteristics for a project manager include alertness, quickness, good listening, imaginative versatility, and flexibility. Martin explains ” the project manager must be ready at any time to modify any existing plan for a better one.” Flexibility “implies a tough willingness to change plans in light of current realities, always with the best interests of the project in mind” . The project manager must have a good work ethic and a high energy level. Project management requires more than a 40-hour workweek and interaction and availability to many people in and outside the organization. To be successful the project manager must be in “top form” most of the time.

Some of the commonly talked topis on the same are
Project Leadership: Building High-Performance Teams
Building Success through Teamwork
Emotional Intelligence: Achieving Leadership Success
Getting Results without Direct Authority

Either be a genius to wear a wacky and distinct in a group. Be a dull part of the group and flow with it. Find out what you are. We are not here to set the trend for 3 piece suit or jeans with a blazer. Ear the best for you and for your org and go for the kill.

Today due to accession of Internet, there is no dearth of information. The real need is to tap the quality of the information to deliver the business need. A frequent traveller will not mind a call from top flyer offering services. Regular diner would like to know more options. Adventures it’s want to know more about the unclaimed challenges. The people with interests are out there in millions. You need to track, utilize the potential customers. Nearly 60% of Facebook users like Movies, Nearly 80% like music in one form or the other. Almost everyone have a book of their linking. Can you look into the frequency, usage and payable customers? You have a business case in hand.

Can you link your current business to protenstsial customer needs available now? The World is getting smaller due to frequent, faster, low cost flights. Cheaper logistics, telephone services. Can I adventurist places in Himalayas fulfill the needs of an adventurist in South American countries. Yes you can. The social sites have opened upexpresssion delivery system for humans. You might argue the accuracy and authenticity of the information. However the same is applicable to any information business try to get. You have an opportunity to deliver the needs. Intern your needs

People have talked about privacy of information in these sites that is ongoing talk running when Internet founded in Stanford University. We can keep this dialogue open. What I want utilize is the business opportunity we need to stress on. The moral responsibility to use any invention belongs to everyone.

2. Trait Theories:
Similar in some ways to “Great Man” theories, trait theories assume that people inherit certain qualities and traits that make them better suited to leadership. Trait theories often identify particular personality or behavioral characteristics shared by leaders. If particular traits are key features of leadership, then how do we explain people who possess those qualities but are not leaders? This question is one of the difficulties in using trait theories to explain leadership.

3. Contingency Theories:
Contingency theories of leadership focus on particular variables related to the environment that might determine which particular style of leadership is best suited for the situation. According to this theory, no leadership style is best in all situations. Success depends upon a number of variables, including the leadership style, qualities of the followers and aspects of the situation.

5. Behavioral Theories:
Behavioral theories of leadership are based upon the belief that great leaders are made, not born. Rooted in behaviorism, this leadership theory focuses on the actions of leaders not on mental qualities or internal states. According to this theory, people can learn to become leaders through teaching and observation.

6. Participative Theories:
Participative leadership theories suggest that the ideal leadership style is one that takes the input of others into account. These leaders encourage participation and contributions from group members and help group members feel more relevant and committed to the decision-making process. In participative theories, however, the leader retains the right to allow the input of others.

7. Management Theories:
Management theories (also known as “Transactional theories”) focus on the role of supervision, organization and group performance. These theories base leadership on a system of rewards and punishments. Managerial theories are often used in business; when employees are successful, they are rewarded; when they fail, they are reprimanded or punished.

8. Relationship Theories:
Relationship theories (also known as “Transformational theories”) focus upon the connections formed between leaders and followers. Transformational leaders motivate and inspire people by helping group members see the importance and higher good of the task. These leaders are focused on the performance of group members, but also want each person to fulfill his or her potential. Leaders with this style often have high ethical and moral standards.

Thanks to ABout