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Showing posts from May, 2020

Summary of Goldratt's "Critical Chain" Business Novel

Successful delivery of projects lays foundation for executing any organizational strategy. So, an organization that focuses on improving its project delivery capability can achieve excellence. Critical Chain by Dr. Eliyahu Goldratt is a 240 page business novel that introduces the idea of Critical chain. It is a method to plan and manage projects by focusing on resources required to execute the project. This critical chain idea introduced in the book is different from the concept of critical path. Critical path specifies on project activities that add up to give the longest duration. Critical chain on the other hand is the longest chain of dependent tasks. It might not be same as the critical path. The critical chain method or Theory of Constraints (TOC) focuses on dependencies related to resources, constraints etc. The author builds the concepts of critical chain to solve the questions below : Why are projects late? Are externalities really the reason that people usually co...

Mentoring in Workplace

Mentoring in organizations has been defined as a developmental relationship between an individual (protégé) and a more senior and influential manager or professional (mentor) according to Dreher and Cox,19961. The traditional mentoring has been modified in many ways to fit modern organizations. According to mentorcloud.com2, 70% of fortune 500 companies have formal mentor training programs in place. They are designed to increase employee productivity and organizational benefits. In this challenging market place, employers are leaving no stone unturned to gain competitive advantages over others. A study released in 2010 by NPO Catalyst and Nationwide Insurance3 revealed that mentoring program can help organizations reduce turnover and increase overall performance of company. Despite the advantages, many companies are struggling to take full advantage of mentoring programs in their organization. This is why organizations should carefully plan, design implement, monitor these progr...