What is Activity based costing:
- Activity based costing is figuring out the activities in the process and assigning a cost to each one of them. This helps to figure out which activity cost how much and it helps to optimize the cost if one can figure out which activity can be ignored.
What is Agile project management:
- It will help organize the work and tasks of the project
What are ABC’s of management:
- Activators: Strategy used by managers to motivate people. 15-25% behavior comes from here.
- Behavior: How team members behave due to the activators
- Consequences - What was the outcome. 75-85% behavior comes from here.
Key points of Managing people and yourself
- Know the basics of problem solving even if it concerns you personally.
- Be a good time manager.
- Plan ahead for the foreseeable future activities.
- After planning everything, if you have too much on plate then delegate.
- To delegate well, identify the candidates, who will be capable of carrying out a task. This will help you provide constructive feedback and evaluate their performance.
- Communicate positively via instructions, suggestions, and feedback.
- Manager should be able to communicate every news: good or bad.
- You will be exposed to the executive layer.
- You will be making a lot of decisions so learn to take good decisions.
- Don’t take any issue personally.
- Learn about people personally but learn to distance yourself professionally too.
- Practice fair share of diplomacy in your role since you will get some heat from upper management but should deliver minimum to the lower layer.
Quality Tools
- FlowCharts: To find dependencies and understand complex processes. MS-Visio: tool. Other open source tools.
- Histogram: Plots frequency of something.
- Cause and Effect: Teamwork is required for this activity. Usually people brain storm for this activity.
