signature assignment capital budgeting course project

Capital Budgeting Course Project: Signature Assignment

We at Accounting Assignments Help provide Capital Budgeting Course Project (Signature Assignment ) help with step by step calculation and explanation 24*7 from our finance experts.

Please note that this is an INDIVIDUAL project.

You have recently assumed the role of CFO at your company. The company’s CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets.

Signature Assignment Parameters

By the end of Week 3 – select a company, download the most recent copy of the company’s 10-K report, and submit your company choice to your professor for approval.

The parameters for the week 7 project deliverable are as follows.

• The firm is looking to expand its operations by 10% of the firm’s net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm’s balance sheet.)
• The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment’s cost.
• The annual EBIT for this new project will be 18% of the project’s cost.
• The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project.
• The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate.

Signature Assignment Deliverables

Prepare a narrated PowerPoint presentation that will highlight the following items.

• Your calculations for the amount of property, plant, and equipment and the annual depreciation for the project
• Your calculations that convert the project’s EBIT to free cash flow for the 12 years of the project.
• Net present value
• Internal rate of return
• Discounted payback period.
• Your discussion of the results that you calculated above, including a recommendation for acceptance or rejection of the project

Once again, you may embed your Excel spreadsheets into your document. Be sure to follow APA standards for this project.

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FIN 510 DeVry University Week 7 Capital Budgeting Worksheet

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Signature assignment - capital budgeting course project.

TABLE OF CONTENTS

Please note that this is an INDIVIDUAL project.

You have recently assumed the role of CFO at your company. The company's CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets.

Signature Assignment Parameters

Select a company, download the most recent copy of the company's 10-K report

The parameters for the week 7 project deliverable are as follows.

• The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm's balance sheet.)
• The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment's cost.
• The annual EBIT for this new project will be 18% of the project's cost.
• The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project.
• The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate.

Unformatted Attachment Preview

Explanation & Answer

View attached explanation and answer. Let me know if you have any questions. Company : Alphabet inc. As per 10-K of alphabet inc (2021), Property and equipment, net = 97,599,000 The new project cost= 10% of Property and equipment, net project cost= 10%*97,599,000 =$ 9,759,900 As per gurufocus, the WACC for alphabet inc is 7.36% Salvage value= 5% of property and equipment, net Salvage value= 5% *97,599,000 = 4,879,950 Depreciation=(project cost-salvage)/project life =(9759900-4879950)12 = 406,662.50 year initial cost EBIT less:Taxes(35%) NOPAT Add: Depreciation OCF Terminal Cash flow Salvage value Taxes(35%) After tax salvage 0 9,759,900 1 2 3 1,756,782 614,873.70 1,141,908.30 406,662.50 1,548,570.80 1,756,782 614,873.70 1,141,908.30 406,662.50 1,548,570.80 1,756,782 614,873.70 1,141,908.30 406,662.50 1,548,570.80 1,548,570.80 0.9314 1,442,409.46 (8,317,490.54) 1,548,570.80 0.8676 1,343,525.95 (6,973,964.58) 1,548,570.80 0.8081 1,251,421.34 (5,722,543.24) Cash flow PVIF @7.36% PV of cashflows Cumm PV of cashflows (9,759,900) 1.0000 (9,759,900.00) (9,759,900.00) NPV IRR Discount Payback 3,660,103.05 1...

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In: Finance

Signature Assignment - Capital Budgeting Course Project Work must be done in Excel. Please show formulas...

Signature Assignment - Capital Budgeting Course Project Work must be done in Excel. Please show formulas if possible so I can get a true understanding of the deliverables.

You have recently assumed the role of CFO at your company. The company's CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets.

Signature Assignment Parameters - select a company download the most recent copy of the company's 10-K report, and submit your company choice to your professor for approval. (I chose Apple's lastest 10-K from the SEC website FY ended 9/28/19) which was approved by my instructor.

The parameters for the week 7 project deliverable are as follows.

The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm's balance sheet.)

The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment's cost.

The annual EBIT for this new project will be 18% of the project's cost.

The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project.

The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate. (The WACC as of 6/13/20 was 6.93%)

Signature Assignment Deliverables

Prepare a narrated PowerPoint presentation that will highlight the following items.

Your calculations for the amount of property, plant, and equipment and the annual depreciation for the project Your calculations that convert the project's EBIT to free cash flow for the 12 years of the project.

The following capital budgeting results for the project:

Net present value, Internal rate of return, Discounted payback period.

Your discussion of the results that you calculated above, including a recommendation for acceptance or rejection of the project Once again, you may embed your Excel spreadsheets into your document. Be sure to follow

Expert Solution

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Signature Assignment - Capital Budgeting Course Project

I have attached a copies of my draft to go off of. I will be needing a   

narrated PowerPoint presentation that will highlight the following items.   

· Your calculations for the amount of property, plant, and equipment and the annual depreciation for the project

· Your calculations that convert the project's EBIT to free cash flow for the 12 years of the project.

· The following capital budgeting results for the project

o Net present value

o Internal rate of return

o Discounted payback period.

· Your discussion of the results that you calculated above, including a recommendation for acceptance or rejection of the project

Once again, you may embed your Excel spreadsheets into your document. Be sure to follow APA standards for this project.

The back information.

You have recently assumed the role of CFO at your company. The company's CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets.

Signature Assignment Parameters 

Select a company, download the most recent copy of the company's 10-K report, and submit your company choice to your professor for approval.

The parameters for deliverable are as follows.

· The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm's balance sheet.)

· The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment's cost.

· The annual EBIT for this new project will be 18% of the project's cost.

· The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project.

· The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate.

Purchase the answer to view it

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Signature Assignment – Capital Budgeting Course Project

Financial markets

Please note that this is an INDIVIDUAL project.

You have recently assumed the role of CFO at your company. The company’s CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets.

Signature Assignment Parameters

By the end of Week 3 – select a company, download the most recent copy of the company’s 10-K report, and submit your company choice to your professor for approval.

The parameters for deliverable are as follows.

• The firm is looking to expand its operations by 10% of the firm’s net property, plant, and equipment. (Calculate this amount by taking 10% of the property, plant, and equipment figure that appears on the firm’s balance sheet.)
• The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the property, plant and equipment’s cost.
• The annual EBIT for this new project will be 18% of the project’s cost.
• The company will use the straight-line method to depreciate this equipment. Also assume that there will be no increases in net working capital each year. Use 35% as the tax rate in this project.
• The hurdle rate for this project will be the WACC that you are able to find on a financial website, such as Gurufocus.com. If you are unable to find the WACC for a company, contact your instructor. He or she will assign you a WACC rate.

Rough draft of the assignment 

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The MoSCoW Method: A Practical Guide to Project Management

I. introduction to the moscow method, a. definition and overview.

Welcome to our comprehensive guide on the MoSCoW Method, a powerful technique used in project management to prioritize requirements and deliverables. Whether you’re a seasoned project manager or just starting your career in the field, understanding and implementing the MoSCoW Method can greatly enhance your project’s success.

B. Purpose and Benefits

The primary purpose of the MoSCoW Method is to help project teams prioritize their work based on the importance of requirements. By categorizing requirements into four distinct levels of priority, project managers can allocate resources effectively and ensure that the most critical features are delivered on time.

Some of the key benefits of using the MoSCoW Method include:

• Improved project focus and clarity
• Enhanced stakeholder engagement and satisfaction
• Efficient resource allocation
• Greater flexibility in managing project scope
• Increased chances of project success

C. History and Origins

The MoSCoW Method was first introduced in the 1990s by Dai Clegg, a British software engineer. It gained popularity in the field of Agile Project Management and has since been widely adopted across various industries. The acronym “MoSCoW” stands for Must, Should, Could, and Won’t, representing the four priority levels used in the method.

II. Understanding the MoSCoW Method

A. meaning of moscow acronym.

The MoSCoW acronym represents the four priority levels used in the method:

• Must: These are the requirements that are critical for project success. They must be delivered within the specified timeframe.
• Should: These requirements are important but not critical. They should be delivered if possible, but their omission won’t jeopardize the project’s success.
• Could: These requirements are desirable but not essential. They could be included if there is enough time and resources available.
• Won’t: These requirements are explicitly excluded from the project scope. They won’t be delivered in the current phase of the project.

B. Key Principles and Concepts

At the core of the MoSCoW Method are the following key principles:

• Prioritization: The method emphasizes the importance of prioritizing requirements based on their impact on project success.
• Collaboration: MoSCoW encourages collaboration among project stakeholders to ensure a shared understanding of priorities.
• Flexibility: The method allows for changes in priorities as the project progresses, providing flexibility to adapt to evolving needs.

C. Roles and Responsibilities in Using the Method

Implementing the MoSCoW Method involves the following key roles:

• Project Manager: Responsible for facilitating the prioritization process and ensuring alignment with project goals.
• Product Owner: Represents the interests of the stakeholders and provides input on requirements prioritization.
• Development Team: Collaborates with the project manager and product owner to understand and deliver the prioritized requirements.

III. Applying the MoSCoW Method in Project Management

A. project initiation and requirements gathering.

Before applying the MoSCoW Method, it is crucial to define project goals and objectives. This ensures a clear understanding of the desired outcomes and helps in identifying the most critical requirements.

• Defining Project Goals and Objectives: Clearly articulate what the project aims to achieve and how it aligns with the organization’s strategic objectives.
• Identifying and Prioritizing Project Requirements: Gather all the requirements and categorize them into the MoSCoW priority levels. Engage stakeholders to ensure their input is considered.
• Creating the MoSCoW Prioritization Matrix: Use a matrix to visualize and communicate the prioritization of requirements. This helps in making informed decisions during the project lifecycle.

B. MoSCoW Method in Project Planning

Once the requirements are prioritized, the next step is to break them down into deliverables and create a project roadmap.

• Breaking Down Project Requirements into Deliverables: Divide the requirements into smaller, manageable tasks or deliverables. This ensures clarity and enables better estimation and resource allocation.
• Assigning Priorities to Each Deliverable: Allocate priorities to each deliverable based on the MoSCoW levels. This helps in determining the order in which the deliverables should be completed.
• Creating a Project Roadmap Using MoSCoW Prioritization: Develop a timeline or Gantt chart that reflects the sequence of deliverables based on their priorities. This helps in visualizing the project’s progress.

C. MoSCoW Method in Project Execution and Control

During the execution and control phase, the MoSCoW Method helps in managing project scope, monitoring priorities, and facilitating effective communication.

• Managing Project Scope and Changes: Regularly review and reassess the project’s scope to ensure alignment with the prioritized requirements. Address any changes or additions through a change management process.
• Monitoring and Controlling Project Priorities: Continuously monitor the progress of deliverables and ensure that the priorities are being adhered to. Adjust the plan if necessary to maintain alignment with the MoSCoW prioritization.
• Communicating and Collaborating Based on Priorities: Foster open communication and collaboration among project stakeholders, keeping them informed about the progress and any changes in priorities.

IV. Advantages and Limitations of the MoSCoW Method

A. advantages of using moscow in project management.

The MoSCoW Method offers several advantages when applied in project management:

• Clear Prioritization: It provides a structured approach to prioritize requirements, ensuring that the most critical ones are addressed first.
• Improved Stakeholder Satisfaction: By involving stakeholders in the prioritization process, their needs and expectations are considered, leading to greater satisfaction.
• Efficient Resource Allocation: The method helps in allocating resources effectively, focusing efforts on delivering the most valuable features.
• Flexibility in Managing Scope: MoSCoW allows for changes in priorities, enabling project teams to adapt to evolving requirements without compromising project success.
• Increased Project Success Rate: Prioritizing requirements based on their impact on project success significantly increases the chances of successful project completion.

B. Limitations and Potential Challenges

While the MoSCoW Method offers numerous benefits, it is essential to be aware of its limitations and potential challenges:

• Subjectivity: Prioritization can be subjective, and different stakeholders may have varying opinions on what is a “Must” or a “Should” requirement.
• Changing Priorities: Priorities may change throughout the project lifecycle, requiring continuous monitoring and adjustment.
• Resource Constraints: Limited resources can pose challenges in delivering all the requirements, especially when there are many “Must” requirements.
• Managing Stakeholder Expectations: Balancing stakeholder expectations and managing their disappointment when certain requirements are not included can be challenging.

C. Tips and Best Practices for Successful Implementation

To ensure successful implementation of the MoSCoW Method, consider the following tips and best practices:

• Involve Key Stakeholders: Engage stakeholders from the beginning to ensure their buy-in and alignment with the prioritization process.
• Regularly Review and Reassess Priorities: Priorities may change, so it’s crucial to review and reassess them periodically to maintain alignment with project goals.
• Communicate Clearly: Clearly communicate the MoSCoW Method and its implications to all project stakeholders to avoid misunderstandings.
• Be Flexible: Embrace changes and be open to adjusting priorities as needed to accommodate evolving project requirements.
• Document Decisions: Keep a record of the prioritization decisions and the rationale behind them. This helps in maintaining transparency and resolving disputes or conflicts.

V. Case Studies and Examples

A. real-life examples of moscow method in action.

Let’s explore some real-life examples of how the MoSCoW Method has been successfully applied in different projects:

Example 1: A software development project for a healthcare organization:

• Must: Implement a secure login system and patient data encryption.
• Should: Develop a reporting module for generating customized reports.
• Could: Integrate with external APIs to fetch real-time data from medical devices.
• Won’t: Include social media integration for patient feedback.

Example 2: A construction project for a residential building:

• Must: Complete the foundation and structural work within the specified timeline.
• Should: Install energy-efficient windows and doors.
• Could: Include a swimming pool in the backyard.
• Won’t: Build a rooftop garden.

B. Case Studies Showcasing Successful Implementation

Here are a few case studies that highlight successful implementation of the MoSCoW Method:

Case Study 1: XYZ Company’s ERP Implementation:

In this case, the MoSCoW Method helped the project team prioritize the ERP system’s requirements. By focusing on the “Must” and “Should” requirements, they were able to deliver a functional system within the allocated budget and timeline.

Case Study 2: ABC Organization’s Website Redesign:

Through the MoSCoW Method, the organization identified the critical features that needed to be included in the website redesign. By prioritizing these requirements, they successfully launched the new website on time, meeting the stakeholders’ expectations.

C. Lessons Learned and Key Takeaways from Case Studies

From the case studies mentioned above, we can draw some valuable lessons and key takeaways:

• Effective prioritization: Prioritizing requirements based on their impact on project success is crucial for delivering successful outcomes.
• Collaboration: Involving stakeholders in the prioritization process ensures their needs and expectations are considered, leading to greater satisfaction.
• Flexibility: The MoSCoW Method allows for changes in priorities, enabling project teams to adapt to evolving requirements without compromising project success.
• Documentation: Keeping a record of prioritization decisions helps in maintaining transparency and resolving disputes or conflicts.

VI. Conclusion

A. recap of key points discussed.

In this comprehensive guide, we explored the MoSCoW Method, its definition, purpose, and benefits. We discussed its history and origins, as well as the meaning of the MoSCoW acronym. We delved into the key principles, concepts, and roles involved in using the method. Furthermore, we provided practical insights on applying the MoSCoW Method in project management, including project initiation, planning, execution, and control.

B. Importance of MoSCoW Method in Project Management

The MoSCoW Method offers a structured approach to prioritize requirements, ensuring that the most critical ones are addressed first. By involving stakeholders and fostering collaboration, it enhances stakeholder satisfaction and project success. The method’s flexibility allows project teams to adapt to changing priorities, enabling efficient resource allocation and effective scope management.

C. Encouragement for Further Exploration and Implementation

We encourage you to further explore the MoSCoW Method and consider implementing it in your project management endeavors. By following the tips and best practices provided, you can maximize the benefits of the method and overcome potential challenges. Remember to document decisions and learn from real-life case studies to continuously improve your application of the MoSCoW Method.

Happy prioritizing and successful project management!

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A Quick Guide to the MoSCoW Method Technique

January 12, 2022 - 10 min read

The MoSCoW method is a prioritization technique used by project and campaign managers to work smarter not harder. In this quick guide, we’ll explain exactly what the MoSCoW method is, how it works, and provide some examples you can use to inform your own analysis. Keep reading to better understand the various categories within the MoSCoW method, as well as an alternative prioritization tool for project managers.

What is the MoSCow method?

The MoSCoW method is a technique used by organizations to communicate the importance and priority of the various requirements being met in various projects. This method is also referred to as MoSCoW prioritization and MoSCoW analysis.

The term MoSCoW is an acronym that refers to the first letter of each of the four priority categories. It uses four categories, which are must-have, should-want, could-have, and will not have. While it’s meant to be used at the start of a project when time is on your side, it can also be adapted to work seamlessly for time constraints .

Software developer Dai Clegg originally created the MoScoW method. Since then, many other leading companies have used it to get their team on the same page, properly distribute resources, and achieve project goals. 

How does the MoSCow technique work?

The MoSCoW technique works by allowing teams to include multiple representatives from the organization in their project management discussions. This gives everyone a wider perspective on the organization's operations and where their collective priorities lie. 

Before you begin your MoSCoW method, think about which people can provide valuable context for your team. They can help you identify opportunities and threats, and they can help you make better decisions. Once finalized, the MoSCoW method will also force stakeholders to show evidence before they can submit additional work requests mid-project. 

Critics of MoSCoW often say that it does not include a comprehensive objective scoring system for all initiatives. This is a common mistake that many teams make. A weighted scoring method will more accurately measure the backlog against a set of predefined benefits and costs.

One of the most challenging aspects of the MoSCoW technique is learning which categories their initiatives should go in.  As the manager, you will need to know which of your team's initiatives are “must haves” for their product or which are merely “should haves”. 

You may even need to solicit feedback from a different department in order to get greater perspective on your current project prioritization. For example, a marketing department head may have greater insight into which selling points for your upcoming product launch are resonating more with buyers so that you can work on perfecting those components first. 

Another key idea about how the MoSCoW technique works is that it’s only effective if you follow it. This means that, once an initiative is placed into a category, the entire team needs to stick to that decision. Many beginner MoSCoW teams end up agreeing that an initiative should have been initiated, but they move on to the next step instead because it feels better or more familiar to them. 

Finally, when it comes to making decisions about prioritization, your team will need to have a consistent framework in place before you engage with this technique. A consistent framework for assessing and ranking all initiatives is critical if you want to avoid biases and falling into old patterns. 

Your team’s prioritization strategy helps set expectations across the organization. It lets them know that they have made the right decisions and weigh all the factors that go into making those decisions. Don’t be afraid to make your MoSCoW method results available to the rest of your organization if applicable. 

Understanding MoSCow prioritization categories

Before the MoSCoW analysis can begin, all participants need to agree on which initiatives will be prioritized. It's important to discuss how to resolve disagreements in order to prevent them from holding up progress during this preparation stage. This can help prevent issues from happening in the first place.

Once the framework has been established, it is time to start identifying the appropriate categories for each project. Here are the definitions and explanations of each of the MoSCoW prioritization categories: 

Musts are defined as initiatives that are critical to the success of a project or product. These are usually non-negotiable and can be used to describe specific functionalities or solutions that need to be implemented.

The “must have” category is challenging to define. Before you start, ask yourself if something is truly necessary in this category.

Should have

Although “should have” initiatives are not essential to a product or project, they may add significant value. A “should have” initiative is different from a “must have” initiative, which means it can be scheduled for a future release.

“Could haves” are initiatives that are not necessary to the core of a product. Projects that are placed in the “could have” category are often the first ones to be deprioritized when another project takes longer than expected.

Will not have

The MoSCoW method places several initiatives in a “will not have” category. This method allows you to manage expectations about what will not be included in a release or another timeframe.

Putting initiatives in the “will not have" category can help prevent scope creep . This category shows the team that the project is not a priority at this specific time frame. 

Some initiatives are prioritized in the “will not have” group, while others are likely to happen in the future. Some teams then decide to create a subcategory for these initiatives.

How is the MoSCoW method used in project management?

The concept of MoSCoW allows project managers to prioritize tasks that can be done efficiently even when they have limited time. For example, if the team has a tight budget, it can use MoSCoW to determine which initiatives can be completed within those limitations. 

This is especially useful for managers juggling more than project or leading cross-functional teams. This is because cross-functional teams are sometimes obligated to another company or department’s priorities. While your team is working on a new product release, another project manager may have them on a tight timeline for another client’s goal. 

And, as we all know, things come up throughout the lifespan of a project. Although efficient planning helps teams remain agile, the MoSCoW method can make even the biggest and most unexpected roadblocks more manageable. 

MoSCoW examples

This method can be used for nearly any industry or project type because it has to do more with project decision-making than the subject matter itself. Here are a couple of MoSCoW method examples you can use to get started with your first draft: 

1. National College of Ireland’s website project

In this example from a lecture on the MoSCoW analysis, Professor Eugene O’Loughlin demonstrates how to use this technique when building a website . 

The project goal in this example is to create a platform where users can securely log in and access files. Because of this, the tasks listed under their MoSCoW categories will look different from other standard website creation projects. 

For example, while another project may add “have an eye-catching design” to their should-have section, this particular website has added “password retrieval” because it directly applies to their security-oriented goal. 

Even if this website project could benefit from a great design, the MoSCoW method helps managers and teams laser focus on completing the highest priority activities first. If they have more time later on, they can potentially add a design improvement task to their “could haves” if they determine the ROI is high enough. 

Takeaway: Consider your project holistically when assigning priority. Your goals should be your north star for determining what is or is not truly important, regardless of what conventional wisdom says to do. 

2. Slideteam’s Assessing HR Requirements Template

This is one of the MoSCoW examples that shows how many different types of tasks this technique covers. Here, we see storing employee leave history as a must, leave letter printing a should, notifications for pending leave dates a could, and remote access a won’t. 

In HR, many of their decisions around prioritization will be made by compliance and legal counsel that they must adhere to. Still, it’s important to define these tasks and their MoSCoW label so that employees understand at a glance that it’s less important to set up leave notifications and more important that they update employment histories in their software. 

Takeaway: The MoSCoW method can be used to cover many different aspects of projects including compliance and procedure. 

How to undertake a MoSCoW analysis using Wrike

Wrike is a project management software that allows users to strategize how they prioritize their portfolio of projects as well as the tasks within each individual initiative. Using visual tools such as road maps that show what progress will look like from kickoff to completion, managers can easily see which of their chosen MoSCoW analysis configurations work best for achieving their goals. 

Wrike also allows you to centralize all of your project planning in one central location. You can view potential resource conflicts across projects, individual task progress statuses, and automate tasks from your should or could have categories that you otherwise wouldn’t have time for. 

Ready to get started with the MoSCoW method and Wrike? Sign up for a two-week free trial today. 

Maria Waida

Maria is a freelance content writer who specializes in blogging and other marketing materials for enterprise software businesses.

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An Introduction to Bullet Journal Project Management

Bullet journals are great tools to destress and organize various aspects of project management. In this guide, we’re diving deep into the pros and cons of using this method to organize projects of all kinds. Keep reading to discover what bullet journal project management is and how this practice can boost productivity to new levels.  What is a bullet journal? A bullet journal is a customized space to organize all of your personal projects and goals. It can also be used to track deadlines and prioritize tasks. Bullet journaling became popular thanks to the book Getting Things Done, which is about a project management technique that uses a bullet journal to manage different projects efficiently. Bullet journals are often used to create daily, weekly, and monthly project plans. They can also be home to your to-do lists, inspiration boards, and project notes. They’re relaxing to create and relatively easy to maintain.  If you have multiple projects to manage, then you may want to use more than one notebook. Or you can swap your physical journal for a professional services management software that has plenty of space for storing digital plans.  Software tools are also easy to customize, make collaboration easier, and help with turning the plan into reality through task creation and assignment tools. With Wrike, data from multiple users will automatically sync so that everyone is on the same page with new updates and responsibilities.  If you do use a physical journal, using loose leaf paper in a binder will allow you to add pages as you go. This is useful for keeping track of all the data in one place instead of switching to additional notebooks when you run out of room.  There are many elegant, decorated bullet journal page layouts out there. Many invest time into making them artistic with drawings, decorative tape, and cut-out images. This isn’t necessary for project management, but it may be a fun activity outside of work.  Bullet journals can use several different layouts. The most common is a two-page spread that includes a month-long calendar on one page and a breakdown of goals for that period on the other. The latter will help you keep track of all the dates and commitments that are important to you as you get closer to starting a new project. The two-page spread makes it easy to see where you'll be working most efficiently in the coming weeks. It's ideal for people who manage multiple projects simultaneously. You can also create a view of the next six months within your bullet journal project management layout. This is called a future log. A future log is a calendar that lets you keep track of important events and dates for long-term projects. How do you use a bullet journal in project planning? Projects are essentially collections of notes and tasks that are linked to a common goal. They can be pulled together in a bullet journal for you to easily see all of the work related to that specific project. To start, you’ll need to list out your goals.  Create a list that includes every project goal you or your team can think of. Sort them in order of importance. Ideally, these smaller project goals will align with your organization’s big-picture goals.  Once you know what you’d like to accomplish, you can begin your bullet journal. Start by breaking down your number one goal into a project action plan. This can span days, weeks, or months. Then, break down your project action plan into individual tasks. Determine what the task is, who will be in charge of getting it done, and when it needs to be completed.  After that, you’re ready to use your bullet journal for project planning.  Step 1: List out your sections Number your pages if they aren’t already. At the beginning of the bullet journal, write the name of the page on the left side and the page number on the right.  Step 2: Add your key You may use symbols and abbreviations throughout your project planning. Put these at the beginning of the journal either after or on the same page as your key. Use color coding to signify which symbols belong to each project if you have more than one.  Step 3: Write out your future log A future log is a list of key dates and tasks that aren’t part of your immediate three-to-six month plans but are important to keep in mind. Add this after your key and leave space for other items as they come up.  Step 4: Create your calendar This can be in the form of a traditional calendar page. Some people like to hand draw them. However, you can also print, cut out, and paste a blank monthly calendar page into your journal too.  Step 5: Track tasks Create sections for monthly, weekly, and daily task lists. You can organize these in a few ways. Some project managers prefer to do it by project or by person. You can also create one massive list with everything you’re personally responsible for so you have it all in one place. Or use a combination of any of these for your various projects.  Make sure to check in with your bullet journal weekly and monthly. Note any upcoming or past deadlines. Adjust your task list and schedule for unexpected issues as needed.  The benefits of using a bullet journal for work Project managers often have a hard time keeping track of their work activities without losing track of anything along the way. This is one of the reasons why the bullet journal is so useful. Not only does it give you a roadmap of your next projects, but it’s also good for daily use.  You can keep track of to-do lists, priorities, and daily reflections. You can also journal about your progress and realign with goals all in the same notebook or tool. You can also rapidly log your thoughts for the day to boost your creativity and clear out emotions that no longer serve the project.  Combine your bullet journal for work with your personal goals. It will be easier to prioritize and accurately schedule tasks when you have your entire life laid out in front of you on paper.  Another benefit of using a bullet journal for work is that you can either DIY a notebook or use a planner you already have. It’s not so much what you use but how you use it.  And bonus: bullet journaling only takes five to 15 minutes a day. Whether it’s reviewing tomorrow’s meetings or crossing off today’s tasks, a bullet journal practice is easy to build into your schedule no matter how busy you are.  The disadvantages of using a bullet journal in project management While bullet journaling project management is great for keeping track of key project details, many project managers need a separate system to manage their meetings and reports.  Having more than one journal or calendar to manage at one time can be confusing. Add more than one project to the mix, and it may be counterproductive to use a traditional pen and paper bullet journal to accomplish your goals.  Another disadvantage of using a bullet journal in project management is your lack of ability to collaborate with others. When writing on paper, you have to either show your team the notebook in person or scan the pages and share them online. Either way, it’s not ideal for large, remote, and/or revolving teams.  The other thing to know about bullet journaling before diving in headfirst is that it can be quite time-consuming. If you do a crafty layout with calligraphy and scrapbooking accessories, then it may even take several days to finish.  And once you do have your plans laid out, they can be hard to change. Rewriting, erasing, and making more space for things that come up are essential for project planning. For that reason, we suggest using an 11 inch by 7 inch grid lined notebook to give yourself extra space.  Also, you can outline headlines and calendars with a pen or marker if you like the look. But stick to pencil for any factual information that is subject to change throughout the lifetime of the project. If you don’t do this now, you may end up having to scrap entire pages and start over later on.  Bullet journal alternatives you should consider Bullet journals are fun, unique, and creative. But there are some projects where they just aren’t the best possible option for managing it all. The project may be too complex or too large for a single notebook. There may even be so many updates needed that a physical notebook doesn’t make sense for your project.  If you’re facing any of these issues, you can try any of the following bullet journal alternatives:  Digital calendar and list app combo Bulletin board, sticky notes, and shared files Project management software Project management software is the top choice for bullet journal alternatives. Not only is it flexible, but it can make project planning more productive.  Wrike is the ultimate platform for customizing your own bullet journal project management processes. With over 30 predefined apps you can use to sync all your project data in one place, it's the most versatile platform for managing complex tasks. As a single source of truth for a project, team, and entire organization, project management software offers more advanced features than a simple notebook can. Instead of writing everything down on a few sheets of paper, Wrike acts like a living document. And unlike other digital organization tools, Wrike is specifically built to optimize project performance and success.  Wrike's tools are designed to work seamlessly with any team. Anyone who has permission to access the project can share files and tasks quickly and easily. Once uploaded, collaborators can visually edit and obtain files.  They’ll also have access to reports and tasks that are simple to understand at a glance without losing the details in the process. This allows all managers to gain visibility across departments and groups. Wrike is the ideal solution for teams that want to grow and operate efficiently with the help of cutting edge technology. For example, Wrike’s Work Intelligence helps you get started with the next generation of work, with AI-powered projects and automation. Wrike also features a streamlined UI that lets you customize its features to work seamlessly with your team. Although bullet journaling allows you to customize your project planning, you’ll be able to get and implement feedback from partners faster with a digital project tool.  Here are some other stand out benefits of using a project management software over a physical or digital bullet journal:  It’s interactive. For example, Wrike offers Gantt charts that lets users visualize their plans and progress. It’s efficient. Kanban boards make it easy to work seamlessly with Agile teams by creating and sharing whenever needed.  It’s faster. Wrike's template library is designed to help you quickly create and manage complex projects. It’s customizable. With custom request forms, you can easily gather details for your intake, assign tasks to the right teams, and dynamically route questions and requests. It’s up to date. Wrike’s calendars are ideal for team members who want to keep up with the latest information. It’s repeatable. Most tasks go through the same steps before they are finished. In a project management solution, you build a path for yours that will automatically assign and notify people when it's ready to begin through Wrike’s Automation Engine.  It’s trackable. With timers, approvals, and visual task assignments, you can manage entire teams while streamlining your work. It’s transparent. Get a 360 view across all of your organizations with custom dashboards. It’s syncable. Wrike's 400+ app integrations make it possible to integrate hundreds of apps into one central hub.  It’s safe. A digital project management software can safeguard your data by enforcing rules and encryption key ownership. Ready to upgrade your project planning methods and tools? Check out Wrike’s two-week free trial for some more goal-achieving features. 

What Is The Pomodoro Technique and How Does it Work?

Endless tasks and expectations from colleagues and employers can make getting things done hard. There’s always something else to add to your to-do list and, as that list grows, it starts to feel like there’s never enough time to do it all. Productivity hacks can seem gimmicky and semi-helpful at best. But what if there was a time management strategy that could help you tackle your to-do list, meet others’ expectations, and help you feel more productive and balanced?  That’s where the Pomodoro Technique comes in. This popular time management strategy can help you better plan your workload, overcome distractions, and check tasks off your list. And it doesn’t require working overtime or jamming more work into your day. Instead, it encourages frequent breaks in between stints of work. Perhaps one of the best aspects about it is that it’s easy to use.  We’re here to help you make your workdays better and more productive. In this guide, we’re breaking down the Pomodoro method — how to use it, why it works, and its advantages and disadvantages. And don’t worry, we’ll cover what Pomodoro means while we’re at it. Add reading this guide to your list of to-dos for today, and let’s get started.  What is the Pomodoro Technique? The Pomodoro Technique is a productivity or time management method created in the early 1990s by Francesco Cirillo.  A university student at the time, Cirillo struggled to focus and get his assignments done. Feeling overwhelmed, he realized he needed to try a new way of working and held himself accountable for committing to 10 minutes of focused time while studying. As he committed to the challenge, he found a tomato-shaped timer (you guessed it, Pomodoro is “tomato” in Italian), and the Pomodoro Technique was born. Cirillo wrote an entire book about the Pomodoro Technique, but the gist of it is simple. The method encourages short bursts of manageable chunks of work with breaks built in between. With this method, you work for 25-minutes sessions separated by five-minute breaks. After every four or five Pomodoros (think of these as work sessions), you indulge in a more extended break for 15-20 minutes. With a sense of urgency built into it, the method forces you to think through your to-do list and eliminate distractions while progressing on your tasks for a limited amount of time. And you can eliminate distractions knowing that you have breaks built into your day to look forward to. Let’s start by understanding what exactly the word “Pomodoro” means and where it came from. What does Pomodoro mean? Pomodoro quite literally means “tomato” in Italian. But what does a tomato have to do with time management?  Like we mentioned earlier, Cirillo used a tomato-shaped timer to help him manage his focused work time. He later named his famous technique after the tomato-shaped kitchen timer that helped him do his best work.  When we talk about the Pomodoro Technique, a Pomodoro also refers to one 25-minute focused work session. You’ll use a timer to work for one Pomodoro. Get it? Don’t worry — we’ll walk you through the nitty-gritty of how to use the Pomodoro Technique next.  How to use the Pomodoro Technique One of the best parts of the Pomodoro Technique is that it’s super simple to use without any training. Depending on who you ask, these steps may vary slightly. But that’s one of the best parts about the method — you can customize it.  Here’s how Cirillo’s Pomodoro method works: 1. Make a list of the tasks you need to accomplish To make the best use of your Pomodoro sessions, consider starting your day by creating a to-do list and outlining the tasks you need to accomplish. Don’t panic if your list becomes lengthy! Remember, you’re going to split up your work so that it’s more manageable throughout the day. You just need to make a note of what you need to accomplish today.  Tip: When you make a list of your tasks, think about how much time you need to complete each task. For example, one task might take you a full 25-minute Pomodoro. Or you might have three short tasks that you can group during one Pomodoro. Write down how many minutes each task will take. That way, you can pair up tasks that will take less than 25-minutes to complete. Your estimations don’t have to be perfect, but you want to avoid having gaps of time to fill or going past time during your Pomodoro sessions. 2. Set a timer for 25 minutes You don’t have to mimic Cirillo exactly and use a tomato-shaped kitchen timer, but to live the complete Pomodoro Technique experience, give a real timer a try. It doesn’t matter if you use a virtual or physical timer; any will do. Here are a few options to choose from when selecting a Pomodoro Technique timer: Pomodoro tomato timer Online tomato timer Focus Keeper app Pomodoro Timer Lite app The timer you use doesn’t need to be overly cumbersome or have any fancy capabilities, so don’t get caught up in the details. Keep it simple to make it most effective.  3. Focus on your tasks until the timer goes off This is the tricky part. Once you’ve set your timer, you need to work on the task or tasks you’ve chosen for 25 minutes without any interruptions throwing you off track. Combating distractions is no easy feat, and it may take practice to nail this step.  Tip: If possible, alert those around you when you’re using the Pomodoro method. This can help reduce interruptions and external distractions.  If you find yourself with spare time during a Pomodoro and aren’t sure what to focus on, Cirillo recommends taking advantage of the opportunity for overlearning. Use the time to make improvements and tidy up your work, reflect on the tasks you completed, or make a note of what you’ve learned until the timer goes off. Use the 25 minutes as best you can and avoid starting your break early if possible. 4. Enjoy a short break for five minutes You made it! Time is up and you can enjoy a break for five minutes or so. Consider using this time to use the restroom, grab a snack, or fill up your water bottle. Give your eyes a break and try to limit screen time if you can. Get up and stretch your legs or move your body around. Taking care of your well-being will help you stay motivated throughout the remainder of the day. 5. Repeat steps the first four steps Are you getting the hang of it? Rinse and repeat the above steps. After you’ve completed four Pomodoros, skip step four and jump straight to step six. 6. After every four or five Pomodoros, enjoy a more extended break You’ve earned it! Enjoy a longer, restorative break this time. Take 15-20 minutes to rejuvenate yourself. Maybe it’s time for breakfast or lunch. Or perhaps you want to spend a few minutes outside in the sun. Whatever the case may be, use your break wisely and prepare to jump into more Pomodoros after the break. That’s it. The Pomodoro Technique is an easy-to-use system, which means there isn’t much of a learning curve to start using it to your advantage. Does the Pomodoro Technique work? It sounds simple, right? That means you might be asking yourself whether the Pomodoro method truly works or not.  Reviews of the method spread amongst the internet suggest that many have seen success when using the technique. One person found that the Pomodoro Technique was a great solution for monotonous tasks on the to-do list. Knowing that they only needed to work on a task for 25 minutes encouraged them to get started on those dreaded, tedious to-do’s. Another person found success using the Pomodoro Technique and later adapted the method to fit their specific needs. The Pomodoro Technique helped them define a practice of self-discipline to expand on and boost productivity.  But what is it about the Pomodoro Technique that makes it work? Studies suggest that brief mental breaks help keep you focused. Frequent distractions rob us of productivity at work, but the Pomodoro method helps eliminate distractions for more focus in the workplace.  As with any time management strategy, what works best for some may not work well for others. Give the Pomodoro Technique a try and tailor it to your individual needs to ensure it has the most payoff for you.  The advantages and disadvantages of the Pomodoro method As with any time management strategy, the Pomodoro Technique has both benefits and drawbacks to consider before experimenting with it. Let’s take a look at both, starting with the advantages. Advantages of the Pomodoro Technique Break the habit of multitasking  When you follow the Pomodoro Technique, you’ll break the habit of multitasking. While multitasking might seem like a great way to get more done, it’s distracting and actually hinders your productivity. With the Pomodoro method, your goal is to dedicate your focus to any given task at hand — and save the rest of the items on your to-do list for another Pomodoro.  Reduce or prevent feelings of burnout Looking at your neverending to-do list can feel overwhelming and stressful, and working through that list without a strategic plan in place can cause feelings of burnout. The Pomodoro Technique not only encourages frequent breaks but it builds them directly into your schedule for you. You can reduce or prevent stress and burnout by taking full advantage of your breaks when you have them. Reduce procrastination We all procrastinate now and then, but the Pomodoro Technique ignites a sense of urgency in the day, which reduces or eliminates procrastination. There isn’t any time to scroll through your favorite social media platform, grab another snack, stare out the window, or engage in another distraction when you know you only have 25 minutes to complete a task. (Don’t beat yourself up — we’re all guilty of these things!) Disadvantages of the Pomodoro Technique Some tasks take more than 25 minutes  The Pomodoro method is said to be beneficial for tasks like writing, coding, and studying. It also comes in handy when needing to work through some monotonous to-dos like cleaning out your inbox or digging into some administrative items. But some tasks are bound to take more than 25 minutes to complete, which means the Pomodoro Technique may not always work for every type of project or task. If you’re in the middle of a project and are in a solid flow state, you might want to keep working past the 25-minute timer mark, which will interrupt all subsequent Pomodoro scheduling. You know your work styles and productivity best, so you’ll be in charge of making the judgment call on whether you need to work past the timer’s buzz.  Meetings could interfere with your Pomodoro planning  The Pomodoro method sounds particularly beneficial to those who have full control over their schedules. But many career professionals are bound to be interrupted by planned and unexpected meetings. Your meeting schedule could interfere with how you plan your Pomodoros or could interrupt you in the middle of a Pomodoro session.  Every time management strategy comes with advantages and disadvantages, and no method is guaranteed to be one-size-fits-all. Since the Pomodoro method is easy and comes without cost, consider giving it a try to see if it works for you. Remember, you can always tweak it to suit you best.  How to use Wrike to plan your Pomodoros  To set yourself up for success when using the Pomodoro Technique, you’ll want to have a to-do list prepared. A project management tool like Wrike can help you organize your tasks so that you can dive right into your Pomodoros (without wondering what you should start with).  With Wrike, you can: Manage and prioritize your work Use templates to organize and break your projects down into manageable tasks Track your time to understand how you’re spending it Manage workloads with resource management capabilities  You’re on your way to a more productive workday. Start your free trial of Wrike and begin planning your Pomodoros today.

Moore’s Law and the Productivity Problem

As the year draws to a close, developing strategies for how to be more productive and finish the year off strong is on every team’s mind — regardless of department or industry.  According to a study by California-based management platform Redbooth, the month of the year that we are at our most productive is October, followed by November, then September. The fall provides a feeling of a new start for many businesses, with the desire for shiny new productivity tools and aids bringing us back to our school days. But, while a new pencil case or a multi-colored pen can work wonders, today’s organizations are looking to much more sophisticated tools to boost their productivity. Note-taking apps, instant messaging platforms, virtual to-do lists, calendar tools — our desktops are overflowing with software designed to make us our most productive selves. But, with so many conflicting apps clouding our vision, it can often be difficult to get anything done at all.  So, why are we so inclined to constantly invest in new technology, believing it will exponentially increase our productivity levels? This concept is commonly referred to as Moore’s Law, and it’s important to understand it if you’re concerned about your team’s or your own productivity levels. What is Moore’s Law? Let’s start off with a simple enough question: what is Moore’s Law? The origins of Moore’s Law lie in IT and computer hardware. It is the principle that the speed and efficiency of a computer can be expected to double every two years, while the cost decreases by half. Moore’s Law is named after Gordon E. Moore, the co-founder of Intel, who made this observation of exponential growth in 1965.  You will have no doubt experienced Moore’s Law for yourself over the last decade, as the need to purchase a new phone or laptop normally begins to creep up every two years or so. While the technical capabilities of your gadget will have grown hugely, the price largely remains standard. We then begin to fall into a cycle of purchasing new technology as a habit, stretching our view to include phones, computers, exercise aids, entertainment systems, and, yes, productivity tools. Moore’s Law and endless productivity tools Of course, Moore’s Law has huge benefits for the technologically-driven society that we live in. The standards of the technology that we rely on can even be linked to Moore’s Law. The overarching idea of Moore’s Law — that speed, efficiency, and cost-effectiveness of technology is constantly evolving at a rapid pace — could apply to productivity tools and solutions. The need to update and reinvest in the ever-growing ecosystem of productivity tools and software every few years sees many teams losing themselves to too many apps.  In 2015, the average number of cloud applications per company was 73. In 2020, that number had increased to 163. So much so, that 56% of IT executives are now reporting having to use manual spreadsheets to keep track of all their SaaS apps — defeating their productivity goals before they’ve even started. This concept is commonly known as ‘SaaS sprawl,’ a term that refers to the dilemma of an organization’s tech stack being so expansive that it becomes unmanageable and causes visibility problems across departments. $40 billion is estimated to be spent on unused software each year, and the number of apps we are downloading continues to rise.  Many teams believe themselves to be more productive than ever, when really, spending so much time flicking between apps, tools, and software stifles creativity and raises burnout to an all-time high. How your team can effectively invest in productivity If your organization has fallen foul to overindulgence in productivity tools and gadgets, don’t worry. There are plenty of ways to empower your teams and teach them how to be more productive without overwhelming themselves with dozens of productivity platforms.  Consider toxic productivity The concept of toxic productivity relates to an unattainable desire for increased productivity, at the expense of other priorities, such as family or health. Toxic productivity is a real issue for many teams, especially if both our personal and work devices are overrun with technology that is constantly drawing us back to working mode. Consider whether your team could benefit from a digital detox of work-related technology, and set boundaries for after-hours work communication. Turn your attention to other methods of increasing productivity There are plenty of ways to increase productivity and wellbeing at work that have nothing to do with technology. For example, has your organization invested in a flexible work structure, allowing employees to choose where they work best? Could your business go the extra mile and trial a four-day workweek? Could your employee recognition programs use some extra love? These are all areas to consider when brainstorming how to be more productive across the board. Making the most of all-in-one technology like Wrike Of course, technology will always be a cornerstone of a successful business, and continuing to use productivity tools in some way at work is non-negotiable. But which tools should you invest in? What are the most important features of work management software that can actually increase productivity by up to 40%? Workflow automation: With Wrike’s custom request forms and automated task assignment, your team will never miss important tasks and details because of a cluttered workspace. App integration: Using so many apps can be tiresome and inefficient, with details and updates often being missed by team members. Wrike’s work management includes over 400 app integrations, so the constant context switching can stop. Single source of truth: Trawling through emails and messaging apps to find important documents and updates is time-consuming and frustrating for teams. Keeping everything organized in one centralized hub, where users can comment, edit, and give feedback, is a life-saver for teams who wish to be more productive. Collaborative features: Whether your team works in-office, remotely, or under a hybrid model, breakdowns in communication are one of the most common challenges to successful projects. Wrike’s collaborative features, including @mentions, real-time editing, and email and chat app integrations means that your team all have the same view, no matter where they are. Want to know more about how Wrike can boost your team’s productivity? Try out a free two-week trial today.

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