Project Management: Dealing with the Triple Constraint

All project management deals with the famous “Triple Constraint,” which is also referred to by other terms, such as the “Project Management Triangle,” or the “Iron Triangle.” These three are the forces that govern every organizational project and which project management aims to control:

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•  Time: This constraint refers to the actual time when the deliverables, tasks, and the end result of the project need to be accomplished. Every project should have a deadline to maximize resources and achieve goals. Among the constraints, time is the only non-recoverable commodity.

• Cost: Every project entails finite financial resources to complete. Project management provides an estimation of various cost streams involved in the project to make sure that sufficient funding is allotted for every aspect of the project.
• Scope: The scope defines the quality of the project and how the tasks should be delivered. It should be identified upfront to increase the likelihood of project success and to manage everyone’s expectations.

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Every project manager must be knowledgeable of these constraints and how they relate with one another. For example, improving the quality of a deliverable can result in an increase in cost and adjustment of schedule. The discipline of project management enables the project manager and his team to work around these constraints and meet all organizational requirements.

Bharti Jogia-Sattar is an independent consultant who has helped various firms through her hands-on brand of leadership. Project management is just one of the wide range of skills she has developed throughout her professional career. Follow this Facebook page for similar articles.

Developing leadership skills

Regardless of the nature of one’s work or years of experience, anyone can be groomed to be a leader. While others take years to get a raise or a promotion at work, others get there faster.  Developing leadership skills is crucial not just for those who are up for a promotion, but for everyone in the workforce.  Here’s how anyone can develop leadership skills.

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Take the initiative :  When a person is enthusiastic about their work, their bosses and leaders notice how they are serious and passionate about their job.Taking the initiative opens doors of opportunities for learning and leadership.



Practice communication skills : Communication skills are not just for people in the entertainment industry (reporters, presenters, actors) or those in the fields of sales and marketing.  Any worker can be more efficient in their job when they can communicate effectively to others. Effective communication skills can help anyone become an effective
worker now and a valuable leader later.



Accept responsibility :The blame game is a culprit to team failure.  When people learn to own up to their mistakes and are more responsible for their actions, they make things happen.They learn how to ask for advice, and they also become better at solving problems.

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Learn new skills :  The greatest leaders are the biggest learners.Those who are not afraid to learn new things have a broader sense of the world, and they become better leaders.


Bharti Jogia-Sattar is a business executive with expertise in real estate.  Learn more about her professional work by visiting this LinkedIn page.

The Importance Of Analytics In Predictive Accounting

Many accounting professionals, especially those who have been in the industry for decades, have been used to adapting to a lot of major changes. These professionals have seen the growth of technology, changing tax regulations, and other advancements. A lot of practicing accountants have grown concerned over the things and the opportunities they’ve missed because of the constant changes they face.

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Big data and data analytics play an important role in accounting. While a lot of accounting practitioners still rely on books and other records for their reports and services, data analytics can help them do their jobs more efficiently. Here’s why getting in touch with big data can do wonders to a company’s financial arm.

Data analytics is what one can learn from a set of data (sometimes, big data). It is a technology that reviews these data so the team can gain insight (or foresight). For accounting and tax purposes, data analytics can help by predicting how much the company will be spending and how much people will be needed for the tax season. Analytics also helps different teams make sense of data and improve financial performance, among others. While the technology not yet a “must” for tax and accounting firms to practice analytics, this will surely help them become better than their competitors.

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Bharti Jogia-Sattar is an LA-based financial executive. Check out her LinkedIn page for an overview of her work experience.

Investing In Real Estate In Los Angeles

Though it's seen much growth over the years so that early investors could reap the benefits of rising prices, the City of Angels is now crowded enough that the sprawl has spread to areas like Riverside and San Bernardino. To put it briefly, it can be tough, but it's certainly not impossible to succeed.

Real estate prices are still expected to bump up in the future; certain factors like rising populations, as well as certain building and use permits and restrictions, may mean that that supply is limited and property values may increase. So, for those who want and can afford to snap up real estate in LA, the time is now.

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And based on trends, potential investors may want to look into multi-family properties. With high and rising prices of homes, people in the area prefer to rent rather than buy, and investors can take advantage of having their property rented out for a good price.

But aside from residential properties, investors can also consider commercial or retail property. Certain growing communities in and around Los Angeles are very open to retail and restaurants opening in their areas, and it would be wise to take advantage of this.

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Fortunately, for those who can invest in real estate in LA, there are property tax limits in California, also known as the Proposition 13. This sets the state apart from others in that California property tax only increases at a maximum of 2 percent a year while property tax in other states increases yearly depending on the real estate value.

Proposition 13 aside, investors, especially those from out-of-state should do their due diligence about other taxes in California such as sales and income tax, as they're relatively higher than other states' and will have a significant impact on buying, building, and maintaining property in LA.

LA-based financial executive Bharti Jogia-Sattar has multiple areas of expertise ranging from financial and corporate management and real estate investment. Visit this LinkedIn page to learn more about her professional experience.

Financial Considerations Before Investing In Real Estate

Investing in real estate is by no means easy, even if it has a risk-reward profile that is relatively better than other investment types. Numerous factors must be considered before purchasing a property, namely, location, valuation, and current market trends. There are also financial considerations, such as the following:

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Financial situation

Before pursuing a real estate investment, an individual or organization’s income should be stable first. Picking up a mortgage or paying a sizeable down payment when there is still no financial security at present or in the near future is far from a wise decision. A real estate investment, or any investment, for that matter, should fit the investor’s current situation.

Financial goals

Real estate investments have low liquidity, therefore venturing into it with no clear purpose may lead to unfortunate, unexpected results, including financial distress. The purpose of the investment should be identified first, whether it is for self-use or to obtain profit out of it.

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Financing options

Outright cash payment in real estate purchases is rarely the chosen alternative in transactions. Multiple financing options provide the investor flexibility, the most commonly known are traditional financing through loans, and the subject-to method and seller-carry-back methods. These involve loans that come at a big cost, but leveraging strategies can be applied depending on what best fits the situation.

Bharti Jogia-Sattar is an independent finance and accounting consultant who had previously worked in various industries including real estate. Visit this website for more insights on the real estate industry.

Three Real Estate Investment Mistakes To Avoid

Most, if not all, financial consultants will advise building a real estate portfolio. This is especially true for those new in investing. The reason is due to real estate’s inherent stability. For the most part, political and economic climates rarely affect one’s investments. That said, there are still a few things to avoid.

Define as you go: One of the worst mistakes one can make is defining or redefining plans as one goes. Real estate is not something that can be mastered on a whim. It must be thoroughly researched and managed. This means creating and sticking to a plan. Remember that real estate should be taken as an investment strategy rather than a transaction. A good tip to remember is to create a plan and then work backward.

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Think short term: Real estate is a good investment, but it takes time to grow. Those interested in a get-rich-quick scheme should change their thinking right away. Many mistakes are made because investors think too much on their return rather than what they can get down the line. Real estate still requires hard work, financial intelligence, and a steady risk tolerance.

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Think as one: It might seem like a good idea at first, but the most successful real estate investors are those who build the right team of professionals. At the minimum, this means creating a relationship with a real estate agent, a financial consultant, an appraiser, a home inspector, an attorney, and a lender. This team expands when one furthers the reach to remodeling and maintenance.

Take note that real estate investing is a lucrative and stable endeavor but one that still needs the assistance of a financial professional.

Learn more real estate investment advice from Bharti Jogia-Sattar, a respected accounting consultant who specializes in the real estate industry. Subscribe to this blog for more information.

Organizational Development: Its Role in Efficiency and Productivity

Becoming an increasingly influential field of practice in private companies and public service is organizational development.  It is a holistic approach of implementing planned, systemic changes in the principles, values, and beliefs of everyone in the organization to drive growth and efficiency.
By applying organizational development strategies, the company can experience the following benefits amid an ever-changing market, industry, and technology:
 
Increased communication
Organizational development can improve communication and interaction among everyone in the company, which consequently aligns their own values and habits with the corporate vision and goals.  Candid communication, which promotes camaraderie and productivity among team members, can also be fostered.

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 Employee development
One of the results of organizational development is a conducive environment where employees can perform to the best of their abilities, and without wasting much resources.  This is achieved through the creation of learning, training, and skills enhancement programs and improvement of work processes.
  Continuous improvement
Engaging in organizational development entails a commitment to a continuous cycle of improvement towards more efficient and effective processes.  Quality control measures and change management programs are implemented to comply consistently with company standards.

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 Product and service innovation Organizational development is essential to product and service innovation as it provides the opportunity to analyze each step of the development of products and services, and then the formulation of methods that boost efficiency.

For 22 years, Bharti Jogia-Sattar has been a financial executive and accountant working in the greater Los Angeles metropolitan area.  For more information about her, visit this blog site.