Project Management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives for an endeavor (having specific start and completion dates) to create a unique product or service which brings about beneficial change or added value to a business.
- The primary challenge of project management is to achieve all of the project goals and objectives while adhering to classic project constraints—usually scope, quality, time and budget. The secondary—and more ambitious—challenge is to optimize the allocation and integration of inputs necessary to meet pre-defined objectives. A project is a carefully defined set of activities that use resources (money, people, materials, energy, space, provisions, communication, motivation, etc.) to achieve the project goals and objectives.
BI – Business Intelligence refers to the sum of all technologies, applications and practices for the collection, integration, analysis, and presentation of business information and sometimes to the information itself. The purpose of business intelligence--is to support better business decision making. Thus, BI is also described as a decision support system (DSS):
- BI is sometimes used interchangeably with briefing books, report and query tools and executive information systems. In general, business intelligence systems are data-driven DSS.
- BI systems provide historical, current, and predictive views of business operations, most often using data that has been gathered into a data warehouse or a data mart and occasionally working from operational data. Software elements support the use of this information by assisting in the extraction, analysis, and reporting of information. Applications tackle sales, production, financial, and many other sources of business data for purposes that include, notably, business performance management. Information may be gathered on comparable companies to produce benchmarks.
Business intelligence also often uses key performance indicators (KPIs) to assess the present state of business and to prescribe a course of action and is extremely valuable set of metrics for any business to use.
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