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Analytics

Market today is too competitive and unfavorable situations may come any time which leads to the flock of unhappy customers to the competitors, often taking their friends with them. Hence it is necessary for the organization to identify the best marketing approach and make efforts to know their customers as much as possible to attract and retain them. These techniques can be learned easily through a Marketing Analytics Certification.
 
After doing a Marketing Analytics Certification, you will be able to interpret, track and analyze data from any platform that can be used for tracking or advertising the business performance. You will learn that all the analytics and advertising platform that your team is using currently is based on the core marketing analytics principles. It will also help you in learning technical aspects of the business and understand the products and techniques available to marketers and how to preserve them so that you can ensure data integrity.
A Marketing Analytics Certification is something that all marketers should take, as it teaches you the elements that are critical to the growth of business and your marketing efforts and restricts the losses that can affect the organization as a whole.
 
Course Description
Marketing Analytics Certification teaches you data collection and analysis, its assessment and use of that data, which is an important and priceless tool. It is as priceless as the sales results from your marketing campaigns.
The first step of doing marketing is to comprehend what’s in your database and what it means for you. If you don’t understand this, then you are doing your marketing in the dark. Marketing Analytics Certification will help you study the profound depths of marketing analytics and enable you to develop and apply the right strategies
.
 
Look at these 7 compelling reasons to do a Marketing Analytics Certification:
 
1. Become more Proactive and Effective
Marketing analytics help organisations evaluate and anticipate the market and customer behaviour and respond proactively. Marketing analysis contains solutions that perform data or statistical mining methods which enables you to score and develop analytical and predictive models based on the combination of variables.
   
2. Personalize your Marketing and Customer Engagements
Learning about marketing analytics enables organisations to explore how customers behave differently in defined segments. It even helps in predicting the customer’s probability to respond to different offers. Doing this allows them to tailor the content, timing and delivery channel of offers to fit the preferences of customers. 

3. Sharpen Social Media Strategies
Learning more and new strategies to handle social media for your business is imperative. Organisations get a sincere external perspective by social media analytics that helps in identify influencers and understand customer value. By sharpening the social media strategies, you can personalize customer engagements which are necessary for your business and organisation.
 
4. Real-Time Engagement of your Customers
Real-time engagement of your customers is the foremost thing for your business. Marketing analytics helps you in learning skills for real-time decisioning. It teaches you how to combine intelligence with speed so that it provides a competitive advantage for in- person, online or even on the phone with a customer.
 
5. Visualizing success
Marketing analytics makes your data visualization better so that it brings analytics within reach of non-technical marketers and hence allows sharing, decision making and collaboration to mutually become more competent and effective.
 
6. Analysing the present
 It’s essential to understand the present market to make your strategies right and act upon them accordingly. But what if you are not able to evaluate the current market? That’s where marketing analytics help you. It enables you to determine how your marketing initiatives are operating currently. It answers various questions for you and your business such as:
  • 1. Your most profitable customers prefer which channels?
  • 2. How are your customers engaging with you?
  • 3. What is the position of your brand on social media sites, and who are talking about it?
 
7. Forecasting and Determining the Future
Marketing analytics not only help you in examining the current market but also helps in predicting the future. It can deliver data-driven forecasts that you can use to influence the future. It enables you to answer questions like:
  • 1. How the revenue will be affected if you add ten more sales people in under-performing areas?
  • 2. How can you convert the short-term wins into loyalty and current engagement?
  • 3. How to use your current portfolio and which cities you should target next?

Conclusion
By the end of this Marketing Analytics Certification, you will learn how to excerpt information in the ways marketers should. You will learn many important things such as: how to segment the markets and customers, develop products that add value to its consumers and companies, settle the best values for a product in various situations and much more.
But, most of all, you will learn influential and proven analytical techniques that will make you expert in systematizing decision-making power.
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Bitcoin

Fluctuation in the Bitcoin prices on the Bitcoin exchanges is caused due to a lot of factors. There are a lot more factors that determine the Bitcoin prices like the international prices, overall demand and supply in India and so on. Today in this article we will give you top two reasons as to why Indian Bitcoin prices are higher than international prices:
1) Since Indian prices mostly both buy and sell prices
, thus they tend to be higher than the international prices in the market. Thus prices tend to vary significantly between exchanges in different countries. This scenario generally arises when there is a high demand for Bitcoins in India.Also, the sellers refuse to sell at cheap. Similarly, there are scenarios when the Indian price is lower than the international price.

2)Secondly, if the Indian prices are higher than the international prices then this does not lead to fleecing the users. Probably in India, there are hardly any sellers of Bitcoin so due to this reason the prices are increased on a daily basis until there is an appropriate seller for it. In such a case the buy price is kept very high in order to discourage the buyers from buying the Bitcoins.This is probably done to make sure that they have enough stock to sell in the market.
Thus such type of differences is found so as to maintain the balance between the buy and sell demand. Hence these reasons clearly justify why Indian Bitcoin prices are higher than the international prices...

Purchasing Bitcoins quickly is way more confusing especially for those who are new to the world of digital currency. With the concept of Bitcoin roaring high in the market, very few have the idea of purchasing it safely and using it in a secure manner. Today in this article we will tell you about how to purchase Bitcoins quickly.
1)In order to buy Bitcoins quickly, one needs to have a wallet along with the address. Basically, the main purpose of the wallet is to hold the Bitcoins in a way more secure manner. Most of the wallets do associate their address with the QR code so as to enable easy scanning thereby reducing the chances of entering incorrect Bitcoin address or hacking.
2)The second way is to purchase Bitcoins either from an exchange, an individual or a Bitcoin atm.As far as exchange is concerned then you can buy as well as sell the Bitcoins.The other way is to get a face to face trade arranged with a local seller. In this case, you can easily purchase Bitcoins without revealing your identity. Also if you want then you can simply visit the nearby ATM and buy from there. When asked to enter the address then you have to deny that. You need to enter the cash or credit card that you have purchased from the supermarket.
These are few ways through which you can buy the Bitcoins quickly. Apart from this, there will be more options introduced in the market so as to make the purchase of Bitcoins easier.
 
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As far as the legality of Bitcoin is concerned then it seems to be quite controversial. There are certain countries such as Japan that have passed a bill where they have given legal recognition to Bitcoin.But when it comes to China then they have imposed regulatory restriction towards Bitcoin.In certain states of USA, Bitcoin is not treated as money whereas in some it is accepted in the form of payment.
In India, It is actually dependent on the government whether to treat Bitcoin as a currency or not. According to the Indian Laws, the government only has the power to issue currency. Rest as far the residuary power is concerned then it is totally in the hand of Reserve Bank of India to decide whether to treat Bitcoin as the currency or not.
After demonetization in India, the demand for Bitcoins has increased gradually. Thus stating that it is not at all illegal to buy, sell. Trade or mine Bitcoin in India.The Indian government is totally against initiating this cause as they believe that the black money headers might have invested in this.
Thus it can be concluded that although Bitcoin cannot replace the original currency, still in the time period of demonetization, there has been a phenomenal growth in its usage. Although the investors are finding it reluctant enough to invest in it due to high risk associated with it but the other population have no issues in accepting it in the form of cryptocurrency around the world. Thus it is quite difficult to state whether Bitcoin is legal or not.
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A Bitcoin address is basically a 160 bit hash of the public part of public/private ECDSA key pair. As far as its working is concerned, whenever a new address is received, a new key pair is generated. With the help of the public key cryptography, one can easily sign data with their private key. So as to validate a particular signature one should know their public key. All these Bitcoin address generally range between 27 to 34 characters and usually start with a number 1.
Bitcoin address look screwy because they are created using cryptographic algorithm. This is done to keep the data secure. Also it gives a chance to create as many addresses as possible with every new transaction. Since it contains built-in check codes so it is very hard to send the Bitcoins to any mistyped data. In case the address is well informed but still not known by many then the Bitcoin sent to that address will be lost forever. The Elliptic Curve Digital Signature address private key is basically a long number. This generally helps to keep the address secure. It is therefore not easy to decode. The address that you find screwy basically is generated with the help of a lot of hashing algorithm.
Although the Bitcoin address is quite absurd still it is difficult enough for any random person to crack it. It is only the holder of the private key who can get the access to this address easily. Although it is not in a readable language, hence people find it difficult to make out what are the exact words...

Henry Harvin Education
CDCW

Preparing for an interview is easy if you follow the right strategy. Here we present you a content writing interview guide that lists common content writing interview questions along with most fitting answers which you will find useful:

 

1. Tell me something about yourself?

Although it seems an easy answer, many people fumble when required to speak for themselves, hence you need to make sure that you are confident while answering.
·  The best way to answer this is to start with your high school, the graduation/post-graduation and move towards your work experience if any.
· Give your family details only if the interviewer seeks, otherwise, it’s not necessary.

 
2. Do you know something about Search Engine Optimization (SEO)?

Although it’s not a part of work of content writers, you should know about it as if you manage to answer it, this will be an added bonus because writing and SEO go hand in hand.
·  You can easily impress the interviewer by talking about On-page and Off-page optimization.

· You can list some techniques that are used to make the content SEO friendly. For example, key-words, appealing headlines and proper formatting, writing hundred percent authentic content, using links to popular websites etc.

 
3. Why did you choose content writing as a career?

This one is easy. Just say that ‘I feel writing is in my bones, or ‘I love writing’.

 
4. Give some reference to your previous work.

Always be ready with your best write-ups.

· It’s better to show a variety of write-ups that you have written, like blogs or articles, on different topics like technology, travel, tourism etc.
· Make sure you don’t stick to one genre or one writing style.
· You should have a collection of articles under your name to impress your prospective employer.

5. Tell me please about your favourite blog?

 Be ready with a genre in which you excel, and you should also be interested in some topics and current trends. The favourite blog will tell about the writer’s background and interests.
 

6. Tell me about the last book you have read.

A writer should love reading books. Whenever asked about the last book, you should name a book which you have read thoroughly, and you can speak about it.

7. Could you explain the difference between content and copy?

This question is a must know for the writer. You should know the clear difference between content and copy. Content is a value-oriented while a copy is sales oriented. Hence, the writer for a retail website should follow sales-oriented approach and when writing for a personal blog, should create value.

8. What is your strength?

You should always be confident about your skills and abilities. You must reveal your true strength through your words and make sure that the interviewers cannot trap you with your answer.

 
9. What is your weakness?

Questions like these are tricky, and you should know how to tackle these tactfully. You can say something like “my weakness is that I am stubborn about perfection, I keep working on a project until my work is not perfect” or ‘I can’t tolerate indiscipline’. Such an answer will reveal your dedication and will put you in a positive light.

 
10. What is your career goal?

Be careful while answering it and make sure your answer matches to the profile only. Your answer will reveal your liking for the industry you have chosen.

 
11.  Are you a team player?

Whether you are a fresher or an experienced candidate, you should be able to tell them how good you are working in a team.
·  An ideal candidate is one who can perform in a team. The interviews are always looking for team players.
·  You can give them examples of college events or your last organisation when you actively participated.

 
12.  What is your favourite hobby or pass-time?

This is one trick question that most of the candidate fails to answer and rather reply irrelevant. When asked about hobbies or interests you should say something which is relevant to your job profile or in this case to the field of writing. For example, you can say you like to read books in free time or writing poetry or even painting.

 
13.  Where do you see yourself in the next five years?

This question will show how ambitious you are. You can reply that you see yourself as the chief editor of the creative department of this firm. This answer will reveal your confidence and clear understanding of the industry.

 
14.  What is your salary expectation and why?

·  Make sure you ask for a decent salary depending on your experience. If you are experienced, then you can negotiate with your interviewer as well. You will have to convince the interviewers why you deserve the pay you are quoting.

· However, if you are a fresher, you can convince them about your skills and abilities. If you negotiate well and can convince why you deserve better pay, you may get the pay you have cited.

 
Summary

Content Writing can be pursued as a flourishing career if you have the basic skill and abilities regarding language, style of writing, etc. Content is becoming increasingly important day by day, with the entire revolution in digital media and is providing lucrative salaries.

This career will help you in learning a lot about SEO, online marketing, and the digital world in general. Content writing is becoming one of the lucrative careers in India. One can find enough opportunities in this sector, as India has become a good place for outsourcing.

These are some of the most common questions asked during interviews for content writing. Go through this guide carefully as it has some very useful tips. Hope it helps you. You must make sure you are confident and prepared for challenges.

 All the Best!

Content Writing Tutorial for Beginners Read More

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1. Read as Much as You Can

  • Make reading your hobby.
  • Start reading articles and blogs on the internet on a regular basis.
  • Read as much as you can so that your mind never runs out of ideas.
  • The habit of reading will keep you updated with the latest trends and hot topics to write whenever needed.
  • The more you read, the more you know, the more you know, more you can write/share.
 
2. Stay in Research Mode all the Time 
 
  • A writer is someone who should know everything, and for that, you have to be in research mode at all times.
  • This will enhance your knowledge base and being a writer; you will be able to write everything. 
  • Start with your favourite topics like technology, automobiles, politics, innovation, or anything, just start reading and researching more in that area.
 

3. Improve your Vocabulary and Grammar
 
  • In order to start a career in writing your grammar should be on tips.
  • Also, your vocabulary should be very strong. You should be ready with synonyms or good alternatives of different words that you use in your content.
  • You can use your spelling and grammatical error by using different free online grammar and spell check tools. 

4. Title
 
  • In the beginning, to attract more readers towards your writing, try giving catchy titles.
  • Captivating headlines will grab the attention of more and more readers, and you will get more clicks.
 

5. Put your Most Important Information First
 
  • It’s important to put your most important and valuable information first and anything else after that.
  • Frame your first 2 sentences most in the most compelling and interesting way. It will hook the readers till the end.
  • For example, you can start with a joke or share an experience related to your life which can connect the reader.

6. Subheadings
 
  • Using subheadings make the content even more readable.
  • It makes the content sharp and crisp.
  • It grabs the viewer’s attention immediately and gives a brief idea of the topic written below the heading.
 

7. Ignore lengthy Paragraphs
 
  • Refrain absolutely from writing lengthy paragraphs, at least in the beginning of your writing career.
  • Place single idea in a single paragraph, so that your idea can easily reach the reader.
  • Instead of the length, you need to focus on the quality of your work.
 
8. Make it Precise
 
  • Always write to the point and relevant content.
  • Make sure that you frame your ideas in a compressed way.
  • Precise content is meaningful and looks attractive. Readers like scannable content and will give it a look if its specific.
  • Strat your topic with the conclusion so that your reader gets a brief about your content and your entire talk.
 
9. Edit and Edit Again
 
  • Once you have written your piece of content, read it a couple of times.
  • Edit your first draft until it becomes perfect.
  • Editing will help in removing any typing or spelling error.
  • The first draft always has silly mistakes after you have finished writing. Hence double check your work before submission or publishing.
 
  10. Write Everyday
 
  • In the beginning, when you are starting your writing career, make a routine of daily writing and follow it up without a miss.
  • Keep it up to 300-500 words and write each day to get into the habit of writing and improve your writing style.
 
Summary
 
Content writing is a field filled with money and prestige, all you need is dedication and hard work. To start a career in writing, you have to start writing every day and develop a habit of reading. As a beginner, you can start off with a word count of around 200 words. Start writing every day at the same time and stick to the routine. Once your brain is conditioned and set to get a creative flow of ideas to write, then, you can move on to a bigger word count and the category that you want to master.

Focus on the right flow of the content.

One more important point to be 
noted is never ever stop what you are doing, keep continuing and you will succeed. To improve your writing skills, get yourself enrolled in Certified Digital Content Writing (CDCW) Course by Henry Harvin Education.

 
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There is a huge demand for content writers in every sector today, and depending on your experience, you get paid attractively. There is no set industry standard when it comes to content writing salary. If you are good at it and you can sell yourself well, then you can get good pay.  
Salary of a content writer depends on a few things such as:
 
1.    Your prior experience
2.    Do you have any freelancing experience?
3.    Your knowledge of SEO?
4.    How good are your content writing skills?
5.    location of the job
6.    The company where you are applying
7.    Your roles and responsibilities

 
•    Average Salary
 
Minimum Qualification: Graduate
The average salary for content writers in India is around Rs. 2 lakhs per annum. Cities like Delhi, Mumbai, Bangalore, Hyderabad gives higher salaries to content writers, whereas Kolkata and Chandigarh provide a lower range.
 
•    Experienced Writers

 Just like any other job, content writing jobs also have fluctuating salaries based on experience. If you are a skilled and experienced writer, then the pay increases without any limitations.
For Example:
While an intern/fresher makes around Rs. 2.2 lakhs per annum
 A Senior Writer may earn around Rs. 3.6 lakhs - 4 lakhs lakh per annum
 
•    Salary depending on experience:
 
1.    Industry/freelancing experience of 0-2 years- You are a fresher in the content writing industry.
Salary between 3.5 lakhs per annum - 4.0 lakhs per annum.
2.    Have industry/freelancing experience between 2-5 years- You are termed as an experienced writer in the industry
Salary between 5 lakhs per annum - 8 lakhs per annum
3.    Industry/freelancing experience of 5+ years- Now you are termed as a content master, and you can manage a team of writers to run the content marketing of the company.
Salary between 9 lakhs per annum - 15 lakhs per annum.

 
•    Technical Writers
 
Technical writers are in high demand. Their attention is mostly on technicalities related to a programming company or IT firm. A technical writer is must for technology-based companies like Oracle, Adobe and similar brands.
Minimum Qualification: Graduate
Salary range: Rs 50,000 to Rs 1.7 lakh a month
Technical Writing pays higher salaries than general content writing.
For example, a Technical Writer at TCS earns around Rs. 5 lakhs lakh per annum

 
•    Freelance Writers
 
The salary of a freelance content writer depends on their writing skills and writing experience, and efficiency.
Salary range: A good and experienced freelance writer in India can earn from 20,000 INR to 25000 INR per month while beginner writers can earn from 8000 INR to 10,000 INR per month. However, it also depends on how much time you can dedicate and quality of your content.  If you are spending quality of content on deadlines given by clients, then surely you will get more work and money.
 
Summary
The above-mentioned factors regulate the salary of a content writer, but the rest depends on the fact that how much dedicated you are.
Content writers are responsible for the creation, writing, and editing of many types of content. They work for a variety of industries, such as marketing or technical fields.
A full-time content writer can definitely earn a decent amount. However, your earning is based on
yourorganisation, the quality of your content and your dedication to your job. If you have the passion for writing good, you will be paid well.
 
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The career of a content writers is filled with endless opportunities in every sector. Content writers have always been in demand, and this demand is increasing every day. Good writers are easily earning between INR 5o thousand to 3 lakhs per month.  And there are numerous instances where successful writers have made a fortune out of their professions.
 
•    What is Content Writing?

A content writer writes the content for almost anything. For example, for websites, blogs, research papers, press releases, for marketing purposes such as brochures, newsletters, advertisements, emails, pamphlets, packing, leaflets, etc.
 
Types of Writing:
 
1. SEO Writing
 
•    This is the simplest form of content writing.
•    Search Engine Optimization or SEO writing requires the writer to create quality content for guest posts and article directories. These articles are designed for search engines.
•    The keyword plays a crucial role in SEO articles.
•    This type of writing needs just two things:
I.    The content must be unique and 100% plagiarism free
II.    A few keywords must be inserted appropriately.
 
•    Writing SEO articles is a good way to begin your career in content writing and simultaneously improve your writing skills.

 
2.  Academic Writing
 
•    Another popular profession is Academic writing. Academic writers use their professional knowledge to write academic assignments of students.
•    This type of writing is based on providing educational material that can be used to boost professional careers.
•    These writers offer articles for books, magazines, and journals that can be used by institutions.

 
3.  Copywriting
 
•    Copywriting is suitable for those who can generate interest in products effectively and maintain reader’s interest while retaining credibility.
•    Copywriters are an essential aspect of marketing campaigns and It is used to convince customers to purchase an item or click on different links
•    Knowledge of 
consumer 
behaviour and marketing is crucial in writing great copy.
•    Copywriting is usually simple, short, crisp and direct.

 

4.  Business Writing
 
•    Business writing is another popular career. It features professionalism and excellent use of writing skills.
•    This type of writing targets readers interested in business and commerce.
•    The writers are required to have ample knowledge of the world of business.

 
5.  Blog Writing
 
•    Blog writing is gaining fame for many years now. According to a recent report, around 2 million blog posts are written every day.
•    This number is likely to grow in the coming years. Therefore, it is a golden opportunity to make a career in content development and take advantage of growing the content economy.
•    As a blog writer, you will be writing useful blogs and articles on the companies’ website or you can publish on your personal blog also.

 
 
6.  Freelance Writing
 
•    Freelance writers are in good demand. They have the flexibility to work at one place and time of your choice.
•    A freelance writer only has
tofulfil the client’s requirements and submit the content within the given deadline.
•    As a freelance writer, you can earn anything between INR 1 to INR 3 per words based on your experience, and creativity.

 
7.  Editing
 
•    After gaining extensive experience in writing and excellent command over language, you can become an editor.
•    Editors proofread the content and decide if it meets the requirement and standards of an organization.
•    The profile of an editor is prestigious, and most of them are really paid well.
 

Summary
Content writing is a great career that has immense potential and countless opportunities. Content writing is one of the best options for you if you are looking for a knowledge-concentrated job that requires creativity. The career of content writers grows Irrespective of growth of the economy.

However, there are very few courses in universities that teach the skills to be a content writer in today’s demanding world. Get yourself enrolled in the content writing course offered by Henry Harvin Education, which is delivered by Senior Industry Professionals having wide experience in Content Writing, Marketing
and Strategy in various industries and domains.

If you have any query on how to boost your career in content writing, the get in touch with us today!
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GST

GST is the next big thing present in Modi's tasksheet to influence the Indian Economy. However, do you think the Indian Economy is ready to face the jerk of this transition ? Do you think companies are competent to execute the necesarry actionables while addressing various challenges of demonitization and a 'Trump-ed' global economy ? 

To answer these questions, Henry Harvin Education has come up with a unique offering to counter this problem at the grassroot level. Henry Harvin Education has launched a training and certification program on GST which has been specially designed for to inculcate GST know-how at the grassroot level. 

This program will lead to a professional certification: 'Certified GST Practitioner' post an examination based on 8-hour regressive training. This will address the issues of recognition of their distinguished knowledge.  This program will be delivered by Henry Harvin's empanelled industry professionals having 25+years of experience in accounting and consulting.

From student perspective, following will be outcomes based on learning and career:-

 

Learning Elements:-

  1. 360-degree insight on GST
  2. GST Implementation Tools
  3. Impact on various business functions 
  4. GST Compliance requirements
  5. Registrations, rates, returns & refunds under GST era
  6. Indirect tax issues, new elements within GST tax process 
  7. Tips to rework various business metric elements

Career Elements:-

  1. Competitive edge during campus placements with additional skill set 
  2. Career growth opens to new Jobs created by GST
  3. Distinguished CV with tag of 'Certified GST Practitioner' 
To know more, click here: https://henryharvin.com/course/20/gst-workshop
Or reach out to our program consultant at: sahil@henryharvin.com or give a missed call now at 9015266266 
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COBIT

One of the most important aspects of any modern business is the security of information systems and ensuring quality control. COBIT5 - Control Objectives for Information and Related Technology as the name suggests is a framework that looks after the integrity of information systems in the IT Process. It analyses the risks and formulates management practices that deliver organization values associated with the business. COBIT5 is a globally recognized guideline that can be implemented in the IT Sector while also is widely adapted across various other industries as well. In Brief - COBIT5 ensures reliability of information systems through effective control policies.

THE COBIT COMPONENTS

  1. COBIT Framework - by bringing in the best practices from the IT Infrastructure and those of IT governance, the link to business requirements is brought forth and achieved.
  2. Process Descriptions - this serves as a reference model with simple understanding and hence is addressed by all the employees of a company. It is in the forms of plans, implementations & daily operations.
  3. Control Objectives - COBIT has formulated the complete working principles in the form of a list to ensure the control of the IT Business Directives.
  4. Maturity Models - Addressing the adaptability and maturity of all the processes while addressing the gaps found in implementation.
  5. Management Guidelines - Helps in accomplishing better supervision, dictating responsibilities and illustrating better alignment with the other processes.

Companies with high reliance on technology for relevant information benefit greatly from COBIT. It is highly used in Government, Federal departments and helps increase the sensibility of IT Processes. Being a collaborated version of COBIT4.1, RISK IT frameworks and various other models, COBIT5 is very frequently referred to as a merging solution to various organizational gaps.

So what makes COBIT5 the most celebrated version?

The guiding principles throw light on the reason why COBIT 5 is such a highly appreciated program.
  1. Needs of stakeholders are met - security of Information controls are major concerns for the stakeholders of the company. Bringing in policies that align business goals with relatable practices is what COBIT certifies you for.
  2. Covering the whole enterprise from end to end - Ensuring the entire process and functioning of operations, all aspects are taken care of with regards to information control.
  3. Application of a single integrated framework - COBIT5 has used references from various programs and has integrated the necessary implementations making it one handy manual for practical application.
  4. Ensuring a holistic approach to business decision making - COBIT5 facilitates the art of decision making that comes after looking at the bigger picture taking all accounts into consideration, finally in favor of business development.
  5. Separating the governance from the management - The role of management is already clustered with responsibilities and duties which does not allow enough focus to fall upon the factor of governance. COBIT5 trains you to tackle the regulation with its expert programs that helps you to efficiently have under control the functioning of the enterprise.

Benefits that COBIT5 offers from a risk management Perspective!

COBIT 5 has references from a lot of modules, including those of RISK Assessment. IT requires buy-ins from stake holders but also requires quick adaptation and the need to be agile with the processes. COBET5 helps identify the needs, the risk and subsequent benefits from the action to help in this decision making process. The collaborative culture that COBIT5 facilitates also includes a change enablement approach for when IT Initiatives require it within the implementation cycle, thus reducing the chances of failure.

For business executive along with IT Leaders- to understand the Information Management and the way to receive more from information and technology while analyzing and securing yourself from the risks involved; COBIT5 is the go-to guide. With so many implementations globally, it is the way forward.

Want to get more information about COBIT 5 training and certification?
Connect with one of our consultants for more information!
Email us now at kounal@henryharvin.com or call us at our centralized number: 9015266266.
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COBIT5 is one of the popular IT tools that is being widely used by the business and organizations of IT management and governance. One similar tool and that is also quite popular in the market is ITIL. It is also extensively used by the organizations but slowly people are making the switch to COBIT 5 because of the better results are shown by the use of it. Most of the people in the IT business or sector will tell you that their default source of IT good practice is COBIT. It wins over ITIL, hands down. Most people go to COBIT first to assess, to a frame, to define, to justify, to audit and then turn to ITIL second, when they need more detail. The following points will let you know how COBIT is better than ITIL.

1. Purpose - ITIL is an ITSM framework. COBIT is an IT practice and governance framework. ITSM mean “all of IT management seen from a service perspective.” COBIT is intended to be a comprehensive description of all IT practices. Though COBIT does not do it perfectly, it is far more accurate than ITIL.

2. Coverage - According to a report issued jointly by ISACA and OGC states that ITIL includes less than half of COBIT’s reach and only covers about a quarter of the practices. This was the report issued for COBIT 4.1, and I feel that COBIT 5 will increase this gap further.

3. Rigour - ITIL is like the hitchhikers’ guide, and COBIT is the encyclopedia. ITIL’s narrative style may appeal to the users, but the people who have used both the tools suggest that the rigour and structure of COBIT are more dependable and useful. COBIT is systematically numbered, and every entity has a consistent structure. The formal COBIT structure is much easier to use than the ITIL rambling; it enables you to find answers quicker, get clearer concepts with less confusion and frame things readily.

4. Credibility - COBIT is formulated by a unit, not a couple of authors per book. The same team is used for all the books. And then the list of all COBIT grantors and analysts runs to pages. It is maintained and published by a not-for-profit society body set up and operated by auditors, process geeks, and security wonks. Its governance and discretion are impossible.

5. Accessibility - COBIT is low cost as compared to ITIL. There is a copyright and trademark waiver for use by consultants and vendors.

6. Novelty - COBIT is of course not new any more than ITIL was when the world discovered it a decade ago. But COBIT has yet to be a trend, and the world is ready for a new fad as the realities of ITIL are understood. COBIT has none of the adverse baggage gatherings on ITIL. I believe COBIT is IT's next silver bullet.

7. Governance - COBIT is becoming popular day by day because of its IT governance skills. To do the company has to realize that Cloud and SaaS and BYOD are business decisions not just IT decisions. Therefore, organizations have to take responsibilities for the same and the best way to do so is via better enterprise-level governance of IT, which is where COBIT comes in handy and is all about.

COBIT vs ITIL, COBIT, COBIT 5, COBIT Certification Program, COBIT Foundation, ITIL

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1. What is COBIT 5’s purpose?
 
COBIT helps business process owners and managements manage the risks associated with IT and deliver value from IT, by providing them with IT governance models. The model ensures information systems’ integrity.
 
2. Who uses COBIT 5?
 
People involved in business process and technology, those dependent on IT of information and those responsible to ensuring reliability & controlling IT use COBIT. 
 
3. How to train oneself to use COBIT 5?
 
ISACA provides 2 online and 4 classroom offerings on COBIT.
Online: COBIT Foundation Course
               COBIT Foundation Examination
Classroom: COBIT Foundation Course with associated Foundation Examination
                    Implementing IT Governance using COBIT and Val IT
                    ISACA On-site Training program
                    ISACA’s Training Week program
 
4. People who need to undergo this training?
 
IT professionals, business process managers, quality assurance and audit   Professionals, IS & audit managers can undergo this training.
 
5. Can COBIT be considered superior to other control models?
 
COBIT does not replace the other models. It is a framework encompassing all the other models and building on their strengths.
 
6. How does COBIT help in achieving regulatory compliance?
 
COBIT is often used by publicly traded companies to achieve Sarbanes-Oxley Act compliance. The public traded companies need to get their financial reports attested by their chief executives. These reports necessitate reliable IT processes and controls.
 
7. How can I suggest that my IT management use COBIT 5?
 
Basically COBIT 5 is used to understand IT control objectives, manage risks and deliver IT value. Suggesting the IT management use this would be rather straightforward.  

o    The COBIT 5 framework’s business objectives are to be given priority.
o    The IT processes and control objectives that will be appropriate to that particular enterprise must be chosen.
o    Operate from the business plan.
o    The enterprise’s goals, management guidelines, status, critical activities, performance etc., must be kept in mind while suggesting COBIT 5. 
o    Use the IT assurance guide to assess procedures and results.

8. What are the various dimensions of maturity that COBIT has?
 
COBIT has three dimensions of maturity. They are explained in the COBIT framework. They are: Capability, Performance and Control. These dimensions are of immense use while assessing the maturity of IT processes in specific situations. Depending on the scope of the assessment target area and how precise and detailed it needs to be, the COBIT user can choose the application of the dimensions.
 

  1. Capability is the level of maturity required in the process to meet the business requirements. The requirements are driven by business and IT goals that are clearly defined. The maturity model helps the enterprise in recognising the capability that will suit specific process requirements. The model’s focus is on capability.
  2. Control is a measure of actual control and execution of the process, in managing risks and delivering the value expected in line with business requirements and risk appetite. Inadequate control design will lead to process failure, despite being at the correct capability level and having correct management characteristics.
  3. Coverage is a performance measure. It helps decide how and where the management needs to deploy the Capability. It is usually based on the business need and investment decisions based on benefits and costs.
 
A detailed assessment for particular critical areas can be carried out using all these dimensions of maturity. Keeping in mind these three dimensions in the context of the overall business requirement, they can help with an overall assessment of the process’s maturity.
 
9. What is the orientation of COBIT focused on?
 
The orientation of COBIT is focused on the process and not the applications or functions. The framework has 34 IT processes with interrelated life cycle activities or interrelated discrete tasks. Due to several reasons, the makers preferred the Process model.
 
  1. The first of the reasons is that all processes are result oriented and they focus on the final outcome, whilst optimising the use of resources.
  2. Secondly, the objective of the process does not change often and is more of a permanent nature.
  3. Thirdly, use of IT isn’t confined to a particular department; it involves specialists, users and management as well.
 
The applications are treated as one of the 4 resource categories within the framework. Therefore they are managed and controlled in such a way so as bring the required information at the business process level. The applications can be addressed through resource vantage points, since they are an integral part of the COBIT framework. To put it across differently, one can automatically get an application view of the objectives of COBIT, by focusing on the resources only.
 
10. What about the Application controls?
 
Since COBIT was business process oriented, and the level application controls were hardly a part of the overall controls to be used over information systems and its related technology, the application controls were initially fully integrated into the COBIT model. But, this part cannot be outsourced in most cases.
 
11. How does COBIT 5 differ from COBIT 4.1?
 
The main aim of COBIT 5 is to bridge the gap between business risks, control requirements and technology. In order for the general audience to views information governance and control as assets, we must align the business objectives with the IT objectives. That is exactly what COBIT 5 intends to do. COBIT 5, the latest version of COBIT, boasts it capability to create business value by generating buy-in from all the stakeholders of the company, including top executives and directors.
 
  1. COBIT 5 helps the company achieve an organization-wide information governance perspective by the inclusion of new processes that can cover IT and business activities end-to-end.
  2. It makes the IT responsibilities and accountabilities of all the stakeholders transparent, by offering clear definitions of each player's responsibilities and involvement and also detailed explanation of the roles played in IT management, governance and control.
  3. COBIT 5 integrates all the other ISACA standards, such as Val IT and Risk IT.
  4. COBIT 5 has imbibed all the aspects of the previous versions of the COBIT.
  5. COBIT5 provides a framework that integrates all other standards and approaches including ITIL, PMP, COSO, NIST, TOGAF, Prince2, CMMI, ISO27001, SIO20k and Six Sigma.
  6. COBIT 5 has introduced 7 enablers: processes; principles, policies and frameworks; organizational structures; people, skills and competencies; culture, ethics and behaviour; services, information and infrastructure and applications. These help in meeting the enterprise’s IT governance goals.

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What is the purpose behind COBIT?
 
The reason for COBIT is to give administration and business handle proprietors with a data innovation (IT) governance design that helps in delivering value from IT and dealing with the dangers connected with IT. COBIT spans the crevices among business necessities, control needs, and specialized issues. It is a control model to address the issues of IT administration and guarantee the uprightness of data and data frameworks.

Who is utilizing COBIT?

COBIT is utilized internationally by the individuals who have the essential duties regarding business procedures and IT, the individuals who rely on upon IT for pertinent and dependable data, and those giving quality, unwavering quality and control of data innovation. 

Why was the orientation of COBIT focused on the process rather than functions or applications?

The COBIT system has been organized into 34 IT forms bunching interrelated life cycle exercises or interrelated discrete errands. The procedure model was favoured for a few reasons. Initial, a procedure by its tendency is results-oriented in the way that it concentrates on the ultimate result while upgrading the utilization of assets. The way these assets are physically organized, e.g., people/skills in departments are less relevant in this aspect. Second, a method, especially its objectives, is more permanent in nature and does not risk change as often as an organizational entity. Third, the sending of IT can't be bound to a specific division and includes clients and administration and additionally IT pros.

In this specific situation, the IT procedure stays, by the by, the shared factor. To the extent applications are concerned, they are dealt with inside the COBIT structure as one of the four asset classifications. Subsequently, they are to be overseen and controlled so as to realize the required data at the business procedure level. Along these lines, application frameworks are a vital part of the COBIT system and can be tended to explicitly through the asset vantage point. At the end of the day, concentrating entirely on the assets just, one would consequently get an application perspective of the COBIT destinations. 

What is the future direction of COBIT?

Likewise, with any complete and noteworthy research, COBIT will be redesigned to another adaptation around like clockwork, with minor upgrades in the middle. This will guarantee that the model and the system stay extensive and substantial. The approval will likewise involve guaranteeing that the essential reference materials have not changed, or, on the off chance that they have, those progressions are reflected in the archive. The following rendition will be COBIT 5, and a plan report is posted on the COBIT landing page www.isaca.org/cobit under the heading COBIT Update Project.

How does COBIT 5 address reactions of prior variants of the system?

Past renditions of COBIT went under feedback for producing limited and once in a while unfavourable outcomes. The IT benchmarking firm Compass found through its very own examination customers that COBIT and comparative IT administration and control methodologies could prompt to a "hot potato" environment in which stakeholders passed assignments down the line. Commentators kept up that COBIT 5 invigorated the attention on printed material and repetition administer taking after, as opposed to advancing significant IT administration engagement and more grounded responsibility for it. Frequently, Compass discovered, benefit suppliers sent COBIT, and in that capacity, it was not completely incorporated into the business. 

COBIT 5 addresses these reactions by urging organizations to oversee and represent data and innovation in an incorporated, comprehensive way. It depends on five standards: addressing partner needs; covering the undertaking end-to-end; applying a solitary, coordinated structure; empowering an all-encompassing methodology; and isolating administration from the administration.

What inadequacies do critics see in COBIT 5?

While Gartner analysts said this is an improvement over version 4.1, it also makes the framework more complex and "could overwhelm new users and inhibit its adoption. While Gartner examiners said this is a changeover variant 4.1, it likewise makes the structure more intricate and "ignores the blurring boundary between operational technology and information technology, which will have an increasing impact on the management of risk and delivery of value, and will require additional controls." COBIT 5 protectors counter Gartner's reactions by arguing that the expert firm didn't comprehend the structure and neglected to perceive its direction as the most proficient method to oversee data and innovation.

News Analysis

News

On 10 April 2012, ISACA (formerly known as the Information Systems Audit and Control Association) released COBIT 5, an updated version of its governance and management framework, which is widely used by enterprises seeking to manage risks associated with IT and to increase the value they derive from IT investments. ISACA also plans to issue educational material supporting v.5, as well as v.5 companion guides that focus on areas such as information security, assurance, and risk management.

Analysis

A critical revive of COBIT 4.1; COBIT 5 enhances this helpful system by coordinating a few of ISACA's structures, eminently Val IT and Risk IT. The progressions have made COBIT 5 more broad and more intricate. The extent of its direction could overpower new clients and restrain its appropriation; like this, the online variant of COBIT 5 should give particular part renditions or sensible perspectives to make it easier to use.
 
Changes in COBIT 5 prone to have most noteworthy effect on associations right now utilizing COBIT include:
• Another procedure capacity evaluation approach, given ISO/IEC 15504, which replaces the Capability Maturity Model (CMM)- based demonstrating. Modifications to the process model, including changed processes and some new processes.
• Past the combination, this overhaul additionally endeavours to address various issues, including: 
• More express direction to levels of progress ("enablers") past process, for example, culture, morals, conduct, individuals, aptitudes, and skills. 
• Enhanced process ability appraisals. 
• The linkage between particular IT and empowering influence objectives to more extensive undertaking level objectives. 
• More noteworthy accentuation on esteem creation through concentrating on advantages acknowledgment, chance enhancement, and asset advancement. 
• In any case, ISACA has disregarded or put aside a few territories for this overhaul: 
• It overlooks the obscuring limit between operational innovation and data innovation, which will increasingly affect the administration of hazard and conveyance of significant worth, and will require extra controls. 
• It pretty much recognizes, however, does not expressly manage or give any valuable direction on, manageability. 
• Regardless it supplements the Information Technology Infrastructure Library (ITIL) without supplanting it.

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ITIL

An organizations biggest strength is their human resource- their capabilities, processes and technologies. These are the assets that help deliver organization goals and objectives. It is therefore critical to develop these virtues to create a strategic advantage and serve business goals. ITIL- Information Technology Infrastructure Library is a tool to enable these processes.  It is an approach which incorporates IT Service Management as a continual improvement process to develop business growth.

Along with technology management and process management in the IT sector, ITIL drives focus on the business services which support organizational goals.

The Framework of ITIL:
The IITL practices assist an organization processes from inception to its product delivery and customer service. The framework can be explained as below:

Service Strategy: Customer service being the base of a productive business model, ITIL focuses on the directions to improve IT services over time.

Service Design: To evolve from just technology to appropriately designed strategies after understanding customer needs.

Service Transition: focusing to build a smooth and validated process enabling the efficient process of product delivery.

Service Operations:  Supervising the daily activities and performance review to understand and the work the gaps within IT management.

Continual Service Improvement: Identifying the ways and means to keep the best practices ongoing and standardize the process thereby inducing higher probability of excellence.

ITIL and its Organizational Benefits

Professional service Delivery- ITIL helps looking at service delivery through a serious approach rather than just a mere routine step after the technical processes.

Customer Satisfaction- Focusing on customer service of a continual nature, it reflects on the company’s marketability. This results in greater and improved Return on Investment on IT. 

It’s about the Money!- By implementation of ITIL, IT Departments have a better visibility of costs and assets which further help in utilization of resources better and reduction of hidden costs which otherwise reflect as higher cost to Ownership.

Apart from these direct effects to the organization; there are various indirect positive implications of ITIL. It facilitates reduced cost of training since employees are certified with ITIL. Improved morale of the staff along with retention of the professionals is seen to be higher among organizations adopting the ITIL practices. Increased productivity along with greater competence levels are also observed as the benefits witnessed with ITIL Certifications.

Tip: Being a globally accepted approach companies like Microsoft, Visa, Procter & Gamble, Disney, Honda. Sony etc. have been practicing this approach and have found them beneficial in meeting their respective organization’s objectives.

Benefits of ITIL to Individuals:

Who is doing ITIL?

Well, depending on your experience in the field there are different levels of ITIL that can benefit you most precisely being designed for which stage of your career you find yourself in.

With its business purview ITIL helps an individual understand the bigger picture of an IT functioning. Therefore it would cater best to mid level to top management of the organizational chart. This is mainly suggested because the line members are still getting grasp of their technological roles and services, which makes mid management the perfect fit to read into business understanding after spending enough time understanding the core functioning. Although those keen on learning even from the junior level can clearly benefit from the program increasing their exposure and encouraging their involvement from an early stage itself.

Also job trends are in favor of those with ITIL certifications as companies are recognizing the benefits and ITIL professional brings into the functioning of an organization. 

With Foundation, Intermediate, Expert and Master- there are different levels of ITIL Certification where you can expect to learn the framework in the degree of details as desired and crafted, by your own career path.

Explore the guidelines of ITIL and understand the scope to incorporate the same within your personal and organizations’ functioning to enable better service and thereby boost growth.

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3.  See, What Dinesh Rajput has to say about the ITIL program he attended with KPMG:

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What is ITIL?

The Information Technology Infrastructure Library, or ITIL, is an entity within IT Security Management (ITSM) field is a practice framework from public and private sectors internationally. It guides the IT resources to be organized while delivering business, documenting the goals and processes, monitor the functions and roles in ITSM.

Who can learn The ITIL framework?

The ITIL framework is a widely accepted framework, with set of practices mainly for the IT professionals in IT enabled services and management,  IT  service and support managers , IT Consultants, CIO’s  and  Project Managers.

ITIL Service Management supports the transformation of IT services and has been implemented in companies like Microsoft, IBM, Caterpillar and Boeing and adapted well with changing economic and market conditions.

The ITIL Service Management Lifecycle has 5 distinct lifecycle stages:

  1. Service Strategy
  2. Service Design
  3. Service Transition
  4. Service Operation
  5. Continual Service Improvement

ITIL knowledge is required for various organizations to handle projects demanding the skilled workforce and companies are sponsoring employees with ITIL training and also provide onsite job training.

The ITIL Certification Path:
ITIL certification, levels of ITIL certification, ITIL                        

There are 4 levels in ITIL Certification Path
ITIL Foundation:
provides details on the fundamentals of ITIL for better understanding of the concepts.
ITIL Intermediate: explains 5 ITIL framework phases to manage across the lifecycle.
ITIL Expert: explains all the finer details of ITIL Structure.
ITIL Master: provides a comprehensive knowledge with ITIL phases to be implemented in real time.

ITIL Certification serves as a gateway for various opportunities at different organizational levels. The benefits are as listed below:
  - Fosters Creativity and Appropriate Process Selection at organization levels.
  - Increased Productivity with greater customer satisfaction at professional upfront.
  - Increased ROI in IT setup by implementing appropriate skills in various levels of projects.
  - Long Term Pay off in terms of income, cost savings and improved services.
  - ITIL customers are offered better flexibility with pick and choose option available to mix and match ITIL model based on requirement.
  - With better skills and expertise in ITIL it paves way for better third party services.
  - Solutions provided with better identification of weak areas.
  - Resource utilization to reduce cost on training and framework implementation.
  - Many IT Professionals are ITIL certified to have a greater edge over their competitors in the company and seek better opportunities in the market.
  - ITIL Certification provides global opportunities in ITSM arena.
  - ITIL has been adopted by various organizations and certified professionals can choose their options rather than companies selecting them.
  - ITIL has been ranked among the top 15 highest paid certifications and the demand for the same is increasing in leaps and bounds in various fields such as incident management, service management, process        management, release management and project management roles.
  - Candidates appearing for ITIL certification examinations will find preparation materials easily available through online study materials, mobile apps, books to familiarize themselves with various jargons associated  with ITIL training and certification.
  - Professionals with ITIL certification can enhance their skills by evolving with technological changes, market demands and set strategies to maximize their skill set.

Thus with market constantly evolving with technological and market demands companies, recruiters are always in search for better qualified individuals or certified in domain specific to ITIL. There are various centers available for training candidates in ITIL through online and offline modes and one of them is Henry Harvin which provides better opportunities at all levels in the professional world and escalates themselves in their career.

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Agile

Agile Project Management is one of the revolutionary methods introduced for the practice of project management. This is one of the latest project management strategies that are mainly applied to project management practice in software development. Therefore, it is best to relate agile project management to the software development process when understanding it. From the inception of software development as a business, there have been a number of processes following, such as the waterfall model. With the advancement of software development, technologies and business requirements, the traditional models are not robust enough to cater the demands. Therefore, more flexible software development models were required in order to address the agility of the requirements. As a result of this, the information technology community developed agile software development models. ‘Agile’ is an umbrella term used for identifying various models used for agile development, such as Scrum. Since agile development model is different from conventional models, agile project management is a specialized area in project management.

 

Responsibilities of an Agile Project Manager

The responsibilities of an agile project management function are given below. From one project to another, these responsibilities can slightly change and are interpreted differently.

  • Responsible for maintaining the agile values and practices in the project team.
  • The agile project manager removes impediments as the core function of the role.
  • Helps the project team members to turn the requirements backlog into working software functionality.
  • Facilitates and encourages effective and open communication within the team.
  • Responsible for holding agile meetings that discusses the short-term plans and plans to overcome obstacles.
  • Enhances the tool and practices used in the development process.
  • Agile project manager is the chief motivator of the team and plays the mentor role for the team members as well.

 

Agile Project Management does not

  • Manage the software development team.
  • Overrule the informed decisions taken by the team members.
  • Direct team members to perform tasks or routines.
  • Drive the team to achieve specific milestones or deliveries.
  • Assign task to the team members.
  • Make decisions on behalf of the team.
  • Involve in technical decision making or deriving the product strategy.

What is Agile Project management along with Agile Testing?

  • Agile testing is a software testing practice that follows the principles of agile software development.
  • Agile testing involves all members of a cross-functional agile team, with special expertise contributed by testers, to ensure delivering the business value desired by the customer at frequent intervals, working at a sustainable pace.
  • Agile development recognizes that testing is not a separate phase, but an integral part of software development, along with coding.

 

Qualities of a good tester…..

  1. Agile tester should be able to understand the requirements quickly.
  2. Agile tester should know agile concepts and principals.
  3. As requirements keep changing, he should understand the risk involve in it.
  4. Agile tester should be able to prioritize the work based on the requirements.
  5. Communication is must for an agile tester as it requires a lot of communication with developers and business associates.

 

Now You Will Ask What To Do When Change Occur…In Project…

When requirement keeps changing, continuously agile tester should take following approach

  • Write generic test plans and test cases, which focuses on the intent of the requirement rather than its exact details
  • To understand the scope of change, work closely with the product owners or business analyst
  • Make sure team understand the risks involved in changing requirements especially at the end of the sprint
  • Until the feature is stable, and the requirements are finalized, it is best to wait if you are going to automate the feature
  • Changes can be kept to a minimum by negotiating or implement the changes in the next sprint

 

Conclusion:

So we hope we were able to give you the best answers to the agile theories. We hope that now, you know:

Agile manifesto defines an iterative and people-centric approach to software development. It has basically 4 key values.

Agile testingis done parallel to the development activity whereas in traditional waterfall model testing is done at the end of the development.

As done in parallel, agile testing is done on small features whereas inwaterfall modeltesting is done on whole application.

 

In agile projects, it is everyone’s (developers, quality assurance engineers, designers, etc.) responsibility to manage the projectto achieve the objectives of the project.

In addition to that, the agile project managerplays a key role in agile team in order to provide the resources, keep the team motivated, remove blocking issues, and resolve impediments as early as possible.

In this sense, an agile project manager is a mentor and a protector of an agile team, rather than a manager.

In brief:

  • Scrum:In the scrum, a sprint is a basic unit of development. Each sprint is followed by a planning meeting, where the tasks for the sprint are identified and estimated. During each sprint, the team creates finished portion of a product
  • Agile:In Agile, each iteration involves a team working through a full software development cycle, including planning, design, coding, requirement analysis, unit testing, and acceptance testing when a product is demonstrated to stakeholders .In simple words, Agile is the practice and scrum is the process to following this practice.

 

9 Agile quality strategies are…

  1. Re-factoring
  2. Non-solo development
  3. Static and dynamic code analysis
  4. Reviews and Inspection
  5. Iteration/sprint demos
  6. All hands demo
  7. Light weight milestone reviews
  8. Short feedback cycles
  9. Standards and guidelines

WE, HENRY HARVIN WISH YOU A VERY HAPPY DECISION MAKING PROCESS.  WE HOPE WE WERE ABLE TO HELP YOU COVER ALL THE LOOPHOLES, WHICH HAD THE QUEST TO GET SOLVED.BE QUICK, BE AGILE! THEREFORE- AGILE PROJECT MANAGEMENT IS THE NEW COOL.

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Also known as an incremental model- ‘Agile development model’ because it is developed in an incremental and rapid cycles. It is known as incremental model as it gives small incremental releases with each release building on previous functionality. However agile certification helps you learn how to check a model’s released quality and helps to test it. In the of time critical applications- agile model helps to give the best results.  Extreme Programming (XP) is currently one of the most well-knownAgile model. However, models can vary from person to person and organization in order to execute the rules and achieve the goals. It is tailor- made. Advantages of agile model:

  • Customer satisfaction by rapid, continuous delivery of useful software.
  • People and interactions are emphasized rather than process and tools. Customers, developers and testers constantly interact with each other.
  • Working software is delivered frequently (weeks rather than months) that is why called incremental model.
  • Face-to-face conversation is the best form of communication.
  • Cooperationbetween business people and developers.
  • Continuous attention to technical excellence and good design.
  • Regular adaptation to changing circumstances.
  • Even late changes in requirements are welcomed. This comes with the help of agile testing.

Disadvantages of Agile model:

  • Difficult to assess the effort required at the beginning of the software development life cycle.
  • ‘Lack of attention’ is sometimes seen as a hindrance in some cases.
  • The project can easily get taken off track if the customer representative is not clear what final outcome that they want.
  • Only senior programmers are capable of taking the kind of decisions required during the development process. Hence it has no place for newbie programmers, unless combined with experienced resources.

When to use agile model:

  • When new changes are needed to be implemented.  Because of the increments, under agile model, the freedom to welcome the changes can be enjoyed at a minimal cost. To implement a new feature the developers need to lose only the work of a few days, or even only hours, to roll back and implement it.
  • Unlike the waterfall method in agile model very limited planning is required to get started with the project. Agile assumes that the end users’ needs are ever changing in a dynamic business and IT world. Changes can be discussed and features can be newly affected or removed based on feedback. This effectively gives the customer the finished system they want or need. Hence, making an agile model a complete boon for all the fields.
  • Both system developers and stakeholders alike, find they also get more freedom of time and options than if the software was developed in a more rigid sequential way. Having options gives them the ability to leave important decisions until more or better data or even entire hosting programs are available; meaning the project can continue to move forward without fear of reaching a sudden standstill.

Therefore an agile model helps you achieve all the above mentioned features making agile certification a necessity of modern times for all the fields of profession.

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Agile Project Management- In simple terms; Agile Project Management achieves the scope to embrace change and deliver the most ambitious results. It has been observed that companies with Agile principles can adapt quickly to the complexity and uncertainty of today’s business conditions thus having a greater chance in the market compared to companies that would more often crumble under the pressure.

What exactly is Agile Project Management?

Agile Project Management is an interactive process that drives focus on consumer satisfaction first, team harmony over the tasks, and adapting to the current business requirements rather than just sticking to a textbook plan. Agile Project Management is based on the same principles as that of the Agile Manifesto (Agile Software Development). These principles are the guiding light for how to deliver high value service that is technically sound and delivered in a timely manner within the constraints of budget or time. The people when having a management approach and mindset can reach over a consensus quickly thus making the necessary business decisions in this fast pace environment.

The principles of Agile Manifesto:

  1. Individuals and interactions over processes and tools - Agile framework chooses individuals which is team members and the harmony at work over following just textbook procedures
  2. Working software over comprehensive documentation - Rather than drowning in excessive reporting and always competing a backlog, Agile focuses on getting the work done. Shorter procedures but more action and lesser theory of work are what the philosophy of Agile follows.
  3. Customer collaboration over contract negotiation - Agile believes in process that are completely customer centric and focuses on the needs of the customer that needed to be catered to instead of formulating the terms and conditions of the company and negotiating over that with your clients. Hence Agile framework recognizes the importance of collaboration with the customer and getting them involved to ensure a flawless delivery of service.
  4. Responding to change over following a plan - With today’s market scenario, Agile recognizes the need to be swift when it comes to making business decisions or risk management processes that need immediate action. If an organization is stuck into the dilemma of following the rule book and the drawn out plan, the reaction to changes are not always carried out in time which can have severe and long term damage to the company. The Agile approach believes in practices and processes that facilitate responses to change in a more timely and efficient manner.

As mentioned above, Agile doesn’t believe in the conventional ways of process and operations. It is a new approach that throws light on aspects that actually affect team morale and business outcomes. Given below are the key areas with which Agile helps in enhancing an organizations performance.

Discover the problem your business is trying to fix- Agile Project Management uses work sessions and IT divisions and that of business to get a better understanding and shared view of the problems, the prospect solutions and the plan. Urgency is of prime importance and Agile uses outputs such as low-fidelity prototypes and story maps that help in moving to a solution quickly.

Evolve quickly, respond and adapt- More often than not, the first time is never when you get it right completely. Agile helps find the source of the problem swiftly by making frequent testing a standard procedure. Also, Agile practices facilitate keeping stakeholders in the loop for any such problem which gives the company necessary tools to tackle the issues continuously.

It’s a new way of thinking- Just as elaborated above with the Agile Manifesto; Agile gives way to a new school of thought and embraces the leadership mindset within team members. It is about understanding self organizing teams, taking ownership and the interaction between all the roles contributing to the development process. It further elaborates on encouragement of collaboration and discovering innovative solutions which unleash the power of true Agile thinking.

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For any working professional, be it a private job, government officer or a businessman it’s always exciting to get where the real action is! Creating innovative products, meet clients, seal deals and develop business. What usually gets side-lined in the process is effective Management- of people and of the task in hand. That’s what we are here to help you with our Agile Project Management program. Below is an excerpt of what you can expect to learn through this workshop.
 

  • (a) Delegation: An effective manager is not one who only can do everything himself. Recognizing the talent your team holds and delegating responsibilities accordingly helps bring out the best product while also enhancing your team’s skills.
 
  • (b) Get Set GoalsIndividual goals for employees help them remain motivated. It brings purpose to their role while also directing them to observe the organizations objectives. An agile course help develop the process of goal setting which also becomes an effective tool to monitor performance and therefore renders better productivity. 
 
  • (c) Communication is KeyAgile helps you understand the need of and thereby maximize communication between managers &business owners with the ground level staff. Positive updates about the company and other special mentions go a long way in retention of employees.
 
  • (d) Time out! – Management is all about dealing with people- your clients and your staff. And with people it’s all about emotions. Agile emphasizes on the importance of rendering a listening ear to your employees and addressing their grievances & focusing on their upliftment.
 
  • (e) Job well done!!- Every employee urges for Recognition. It is important for the morale of your staff to know that good performance will be noticed and acknowledged adequately. Inexpensive and highly effective ways of recognition are detailed within the workshop to help you be an inspiring leader.
 
  • (f) Long term solutions- While it’s great to solve problems quickly; it only is efficient if the solution is long lasting. Agile helps you to deal with problems in an effective manner which enhances processes and increases productivity.
 
  • (g) All work & no play make Jack a dull boy -To create a more loyal and energetic workforce it is necessary for you and your team to let your hair down once in a while. While bearing in mind the serious responsibilities of business Agile helps formulate a wavelength to maintain work pressure and leisure.
 
Taking care of the above mentioned skills, Agile also helps you achieve:-
 
  1. Better Quality Products: Through the Agile workshops you can ensure highest quality products with regards to design, innovation & applied technologies through proactively exercised knowledge of employees to the best of their abilities.  
  2. Shooting team Morale:  With guidelines that can be easily applied in day to day operations, Agile techniques brings about positive re-enforcement within the employees, enabling better performance & a more focus driven team.  
  3. Eliminate risks!Taking necessary measures proactively & precautions against potential problems, Agile reduces the risk of major hurdles that can occur. Always looking at the bigger picture Agile ensures the alignment of operations with the company’s’ goals and objectives.  

Summarizing all the factors involved- Agile helps with delegating the correct goals to your team while understanding the importance of better communication & employee recognition. Through enhancing problem solving abilities and building team morale we help you in becoming an inspiring leader taking your company and yourself ahead in the game!

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..

Finance for Non-Finance Managers

Financing is a vital aspect which is required to start a business and increase its profitability. It is also needed to tap the necessary resources for the firm. There are couple of means through which financing can be done. However the firm needs to weigh the pros and cons of each source of financing in the light of real world situations and then choose the means through which financing can be performed.

There are two major sources of financing, namely

  1. Debt Financing
  2. Equity Financing

DEBT FINANCING

Debt financing is the process of raising money for meeting the working capital need or capital expenditures by sale of bonds, bills, or notes. The company gets a loan and the individuals or institutions become the creditors of the business enterprise. The company promises to repay the principal amount and interest thereon within a stipulated period.

Debt financing can come either from a Lender’s Loan or through Sale of Bonds to general public.

Debt financing consists of both Secured and Unsecured Loans.
 
A Secured Loan requires the borrower to offer a collateral security to guarantee repayment. In case of default on loan, the collateral is forfeited to satisfy payment of the debt. Various assets are acceptable as collateral such as Guarantors, Co-makers, Real Estate, Savings Accounts or Certificate of Deposit, Chattel Mortgage.

In case of unsecured loan the credit reputation of the borrower is the only security that the lender accepts. But these are usually short-term loans carrying a very high rate of interest.

Selling bonds or commercial paper is another way to raise money through debt financing. This is more economical and easier than taking a bank loan.

Debts are also subject to a repayment period. There are three types of terms of repayment:
  1.  Short-term loans are to be paid back within six months to 18 months.
  2.  Intermediate-term loans are to be paid back within three years from the date of borrowing.
  3.  Long-term loans are to be paid from the cash flow of the business within five years or less.

SOURCES OF DEBT FINANCING

FINANCIAL INSTITUTIONS

Financial institutions such as banks, building societies and credit unions offer business loans, lines of credit, overdraft facilities, invoice financing, equipment leases and asset financing as both short and long term finance solutions.

RETAILERS

Many retail stores offer store credit to purchase technology and equipments via a finance company. It carries a high interest rate.

SUPPLIERS

Most suppliers offer the facility of trade credit allowing the business enterprises to delay the payment for goods.

FACTOR COMPANIES

Factor companies offer finance in the form of purchase of a business' outstanding invoices at a discount. The factor company then chases up the debtors. While this is a simple way to get quick access to cash, it is at the same time expensive as compared to traditional financing options.

FAMILY OR FRIENDS

Offering of a loan by a friend or a relative is called debt finance arrangement. 

EQUITY FINANCING

Equity financing is the process of raising capital through the sale of an ownership interest in the form of shares. 

Equity Financing involves issue of prospectus, which contains detailed information about the company's activities, directors, risk factors, financial statements, etc to help the investor to make an informed decision regarding his/her investment. 

Equity financing depends significantly on the state of financial markets and equity markets. During the Bull period, Companies find it easier to raise funds through Equity Financing while the confidence of investors shake in Bear Period and thus Debt Financing is preferable in the same.

SOURCES OF EQUITY FINANCING

SELF FUNDING

Self Funding involves funding purely through personal finances and revenue from the business. It is also called 'bootstrapping'. Investors expect some amount of self funding before they agree to offer finance to the enterprise.

VENTURE CAPITALIST

Venture capital is used to finance high-risk, high-return businesses. Venture capitalists invest large sum of money in start-up businesses which have the potential for high growth and large profits. They provide management or industry expertise to the business.

PRIVATE INVESTORS

Investors provide funds to the business enterprise in lieu of share in the profits and equity. Investors such as business angels can also work in the business to provide expertise in addition to providing funds.

STOCK MARKET

Initial Public Offering (IPO) involves offering shares to public to raise capital. It is expensive, complex and carries the risk of not meeting the amount of minimum subscriptions.

CROWD FUNDING

'Crowd Funding’ is a platform offered by social media websites to entrepreneurs for their product prototypes and innovative projects. It involves provision of project and budget details and inviting people to contribute to a start-up capital pool.

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..

Finance plays a crucial role when it comes to taking decisions regarding the continued survival and growth of a business. Various decisions regarding the organisation are taken by analysing the financial statements as they help in ascertaining the viability in aspects related to financing. Finance basically serves as an enabler of various business opportunities in terms of expansion, larger market capitalization and a new offering of service.

Companies generally finance its funds through two ways – Equity Financing and Debt Financing. A balanced ratio of debt and equity is maintained in order to avoid future contingencies.

Debt financing includes loans which may be ranging from short term to long term which requires some sort of payment to be made either monthly or yearly.

Equity financing is financing representing an ownership interest in the company including financial instruments such as equity shares, bonds, stock and private investments.

Various analysts are recruited to analyse the financial position and how it can result in meaningful business decisions in this regard.
As we all know, finance directly or indirectly affects the decisions related to business. So it is a vital aspect which is usually taken in consideration in order to arrive at feasible business decisions.
Some of the reasons which are affected by the current financial position of the company are:
 
LABOUR/MANAGERIAL PERSONNEL
 
It is one of the most important factor that is ascertained by finances of the company. A good financial position indicates that a business is capable to recruit more experienced and well trained professionals that will prove an asset to the organisation in terms of making significant contribution in growth and expanding capabilities of the business. Decisions regarding recruitment should be done quite carefully as each employee involves a dedicated cost that firm has to incur. However, if the firm is having lower profitability, it is not in a position to retain all the employees in the business. In order to recover the finances and improve the financial position, Layoff of employees is performed in which companies trim the manpower in order to stabilize profits.
 
DECISION REGARDING COST AND PRICING
 
Costing decisions are also affected by the finances of the company. When there is a recession or crisis, a firm formulates various decisions in respect of cost for retaining sufficient profits and to avoid a situation of bankruptcy. Business might look for elimination of unnecessary expenditure and develop more cost saving and efficient methods for reduction in costs.
 
GROWTH
 
Growth is an important factor that contributes to the success of business enterprise. A business constantly strives to grow in the long run. Growth of a business helps to increase revenues profits and margins to an extent. It even contributes to improved image of the enterprise. However, there are various factors of growth that can only be undertaken if the financial position is stabilized and the firm is earning enough revenues to adequately cover its cost. These factors vary widely by industry, size of business, market and even the taste for risk of the management and ownership. Thus it can be said that when the business lacks adequate financial resources growth is unattainable or may stagnate.

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..

Personal Financial Planning is a process of management of finance facilitated by an individual or a family unit in order to plan its savings, investment and expenditure for a given period of time taking into consideration future events and contingencies. This process guides regarding budget and spending of monetary resources. With the help of personal planning, one can figure out the minimum amount to be retained as saving which will benefit to a huge extent in the future.

While planning personal finance an individual takes into account various options of investment ranging from investment in private equity such as shares, bonds to banking products such as fixed deposits and even insurance policies in order to avoid contingent losses.
 
BENEFITS OF FINANCIAL PLANNING

  1. Mistakes regarding wrong investments can be avoided.
  2. Goal achievement is much easier due to clarity of finances.
  3. Security against future crisis or contingencies.
  4. One can define financial goals and know whether they are realistic or not.
  5. Maximization of Monetary Funds.
  6. Provides a comfortable living with less worry.
  7. Helps in building of wealth.
 
PROCESS OF FINANCIAL PLANNING

Personal finance planning is a dynamic process that has to be monitored continuously and its results should be valued against the defined financial goals in the light of occurrence of various financial or non-financial events.

Generally, 5 steps are involved which are as follows

1.     Assessment

The very first step involves assessment of finances. Personal finances are analysed with the help of financial statements such as Balance Sheet and Income statement which helps to ascertain the financial position of an individual or family unit. It helps to know the expenses and income received during the year as well as Net assets available on a certain date.

2.     Goal setting
 
After assessment of financial statements, Goals are set up on short term basis and long term basis. The goals defined should be realistic in nature and should be achievable within the time frame planned for each of the goals. It provides satisfaction and serves as a motivating factor.it acts as a directing function of financial planning.
          
3.     Plan creation

After goal setting, plans are created in a way so that the goals can be achieved as early as possible. The financial plan describes how to achieve the plans in reference to goals. For example: Reduction of Unnecessary Expenses or Investment in equity.

4.     Execution

A financial plan is executed in line with the plan created and goals defined. One should execute the plan with a disciplined and regular approach.

5.     Monitoring and reassessment

After the execution of financial plan, the plans should be continuously monitored from time to time and should be evaluated against the target goals in order to ensure successful financial planning.

CONCLUSION

Thus, Personal Financial Planning is the process of achieving life goals through proper management of finances in a strategic manner. It may include purchasing a house, saving for higher education or other aspiration goals set to enjoy a higher standard of living. It is not limited to a particular class but such practice should be carried out by each and every individual in order to maximize savings.
 
A large contribution can be made in every sphere of life if we properly plan personal investment, finances and taxation.

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..

BUDGET
 
Budget is generally defined as a quantitative plan which is chartered for the forthcoming period of time. It generally takes into consideration planned sales volumes, costs to be incurred, expenses to be met out, expected revenue to be generated and flow of cash and cash equivalents during the time period for which the budget is planned.
 
Budget can be prepared at any level ranging from an individual to national level. It is basically the estimation of revenue and expenses.
 
Budget is Broadly Categorized into the following 3 categories

  1. Surplus Budget: It usually means that the expected revenue is more than the estimated expenses. Thus, profits are anticipated.
  2. Balanced Budget: It means that the expected revenues almost equal the estimated expenses. No profits as well as no losses are anticipated.
  3. Deficit Budget: It means that the expected revenue is less than the estimated expenses. Hence, losses will be incurred.
 
PURPOSE OF BUDGET
 
The purpose of budget includes the following 3 aspects:

 
  1. It is a forecast of estimated income and expenditure to be incurred over the time period for which budget is planned.
  2. It serves as a tool for decision making as it provides clarity with respect to revenues and expenses.
  3. It is an appropriate mean to measure business performance.
 
BUDGETARY CONTROLS
 
Budgetary Control is basically a technique where the actual results i.e. actual revenues and expenses are compared with the budget planned before the start of the financial year. It highlights the need for adjustment of the performance, if required. It also shows how well the managers have controlled costs and operations in an accounting period.
 
It analyses the budget after its implementation to know major deviations.
 
TECHNIQUES OF BUDGETARY CONTROL
 
For the purpose of budgetary control, various techniques are used which are briefly explained as follows
 
 
1.         Variance Analysis
 
In the following analysis, Budget is prepared for each and every department. Further, a comparison is made between the actual and estimated accounting figures. With the help of this technique, variances are found. The variances are further divided into Favourable and Unfavourable Variances.
 
For instance, the difference between actual production cost and estimated production cost will be denoted by production variance.
 
This technique helps in reducing cost and is commonly used for budgetary control.
 
2.         Responsibility Accounting
 
It is considered to be a good technique for budgetary control. In this, 3 centres namely Cost Centre, Profit Centre and Investment Centre is created. All these centres are like the department of the organisation and employees are classified on the basis of these centres.
 
The performance of the employees in manually recorded and their accountability is fixed regarding certain goals that might be quantitative or qualitative. This technique helps to take decision regarding promotion or demotion based on employee’s performance.
 
3.         Adjustment of funds
 
Under this technique, Top management takes decisions regarding adjustment of funds from one project to another.
 
For instance, if a new project started by an organisation needs money and there is surplus money allocated to an already existing project, then the surplus funds can be adjusted against new project for its initial setup. This technique facilitates proper allocation and adjustment of funds and prevents misuse.
 
4.         Zero Based Budgeting
 
Another technique which is immensely popular these days is zero based budgeting. Under this technique, budget of next year is considered as nil which can be only possible if estimated revenue is equal to estimated expenses. At that time, difference between estimated revenue and estimated expenses will be zero. Any excess amount of money will be adjusted. This technique helps in having control over each and every amount of money spent during the year.

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IFRS

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IFRS or International Financial Reporting Standards as would be the associated expansion of this acronym is a globally accepted accounting standard. It is a precise set of preparing reports and financial statements that help read the company data in a fashion observed worldwide. The advantages of this approach in the global business world are elaborated below.

1. Easy Comparison - Globalization to start with! The main advantage of IFRS is it allows the comparison of different companies, as data is presented on the same basis. All countries have their own Generally Accepted Accounting Principles (GAAP) which is used to evaluate and make the financial statements, this data is varies in all countries depending on their basic guidelines and principles hence making comparison with competition or otherwise unfeasible.  When all companies follow the same accounting pattern which is with IFRS, this process of comparison and analyses thus becomes possible.

2. Developing a Unified Set of Accounting and Reporting Standards - With a single set of accounting framework, the understanding of accounting procedures can be broken down from its complexity to a standard procedure. It also facilitates better understanding and efficient reporting of financial data.

3. Highly transparent and globally enforceable reporting - IFRS works on a principle based philosophy rather than a rule based philosophy. The rules philosophy could prove to be in favor of one entity or for a particular period of time and bad for the opposite entity or another stretch of time. Whereas working over principles, there is equality and transparency in the picture. IFRS also takes into account substance along with the legal form. It makes sure that the complete and relevant information is present in the financial statement, always providing a transparent picture with the least scope of manipulation.

4. Encourages cross border transactions and investments - With a framework that everybody can understand in the different parts of the world, the financial statements are more recognizable for investors and potential collaborators, which brings about trade on a global level and facilitates business growth. It builds a great amount of trust amongst all the parties involved, which is the buyers and suppliers, or the investors and investees since the single set of accounting makes the current position of each entity extremely clear and transparent. This also helps to build the confidence of the company’s global stakeholders.

5. Facilitate international acquisitions and mergers - With the increased exposure to the global market; access to foreign companies has become easier and more approachable. This has shown an increased trend in making way for more foreign capital drawn in, in the forms of acquisitions and mergers with bigger brands and multinationals. IFRS is the key to reporting statements that are globally understood and can be analyzed and assessed by the financial authorities, a transparent picture is provided and risk involved are clear which help in facilitating such huge business decisions.

Other advantages of IFRS also include prompt provision of financial data, shortened time taken through automation and reduced cycles of reporting. Potential improvement in the quality of regular reports and scope of planning and forecasting revenues of the company is what can be expected out of the IFRS system of reporting.

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Ernst and Young (EY) is one of the global leaders in Tax, Assurance, Advisory and Transaction Services. It plays a critical role in building a better world for their clients, communities and people. It offers various training programs to help people develop their competencies in the field of finance and IFRS with the help of trained professionals who ensure development of the participants.
Some of the training programs offered by EY are:

1. Finance for Non Finance Managers 

This 3 day program offered by EY provides awareness and understanding of the ways in which finance affects the business objectives of an enterprise. It also provides valuable insight on important financial areas which are quite relevant for decision making in a business enterprise.
 
Participants are made familiar with the form, content and analysis of financial statements and the main accounting principles and techniques.
 
The program will also help to improve an organization's performance by highlighting the importance of cost control, breakeven and variance analysis.
 
The course is beneficial to all Non Finance Managers/Professionals.
 
2. IFRS Course 

It is important for the finance professionals to understand the accounting standards in the Ind-AS framework, and the related practical application issues. Keeping this need in mind, 80 hours face to face training program on IFRS has been designed by EY which will help participants to understand the structure of the IFRS framework and apply relevant financial reporting standards to key elements of financial reports.
 
3. IND-AS Master Class 

It is a Comprehensive 4 day Master Class which provides a detailed understanding of IND-AS, differences from the current Indian GAAP, insight into the practical application in IND-AS implementation. It is delivered by senior professionals who have extensive training experience as well as experience of working on IFRS/GAAP conversion engagements.
 
4. Internal Financial Master Class 

It is a 2 day master class offered by EY on IFC which aims to provide a complete understanding on requirement of Internal Financial Controls (IFCs) with practical examples focusing on regulatory requirements, applicability and timelines for implementation.
 
 
5. Financial Instruments Accounting Master Class 

It is a Two Day Master Class delivered by trained professionals possessing expertise in financial instruments enabling understanding on how these challenges impact one’s business, and to arrive at an informed decision. Facilitators share global best practices and perspectives to provide a holistic understanding.

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US GAAP are the generally accepted accounting principles used in the United States while IFRS are the international financial reporting standards used around the world.
There are some major differences between US GAAP and IFRS.

 

Difference US GAAP IFRS
Financial periods required Generally, comparative financial statements are presented; however, a single year may be presented in certain circumstances. Public companies must follow SEC rules, which typically require balance sheets for the two most recent years, while all other statements must cover the three-year period ended on the balance sheet date. Comparative information must be disclosed with respect to the previous period for all amounts reported in the current period’s financial statements
Layout of balance sheet and income statement No general requirement within US GAAP to prepare the balance sheet and income statement in accordance with a specific layout; however, public companies must follow the detailed requirements in Regulation S-X. IFRS does not prescribe a standard layout, but includes a list of minimum line items. These minimum line items are less prescriptive than the requirements in Regulation S-X.
Balance sheet — presentation of debt as current versus non-current Debt for which there has been a covenant violation may be presented as non-current if a lender agreement to waive the right to demand repayment for more than one year exists before the financial statements are issued or available to be issued. Debt associated with a covenant violation must be presented as current unless the lender agreement was reached prior to the balance sheet date.
Balance sheet — classification of deferred tax assets and liabilities Current or non-current classification, generally based on the nature of the related asset or liability, is required. All amounts classified as non-current in the balance sheet.
Treatment of certain costs in interim periods Each interim period is viewed as an integral part of an annual period. As a result, certain costs that benefit more than one interim period may be allocated among those periods, resulting in deferral or accrual of certain costs. Each interim period is viewed as a discrete reporting period. A cost that does not meet the definition of an asset at the end of an interim period is not deferred, and a liability recognized at an interim reporting date must represent an existing obligation.
Preparation of consolidated financial statements — general Required, although certain industry-specific exceptions exist (e.g., investment companies). Required, although certain industry-specific exceptions exist (e.g., investment companies), and there is a limited exemption from preparing consolidated financial statements for a parent company that is itself a wholly owned or partially owned subsidiary, if certain conditions are met.
Preparation of consolidated financial statements — Investment companies Investment companies do not consolidate entities that might otherwise require consolidation (e.g., majority-owned corporations). Instead, these investments are reflected at fair value as a single line item in the financial statements. A parent of an investment company is required to retain the investment company subsidiary’s fair value accounting in the parent’s consolidated financial statements. Investment companies (“investment entities” in IFRS) do not consolidate entities that might otherwise require consolidation (e.g., majority-owned corporations). Instead, these investments are reflected at fair value as a single line item in the financial statements. However, a parent of an investment company consolidates all entities that it controls, including those controlled through an investment company subsidiary, unless the parent itself is an investment company.
Uniform accounting policies Uniform accounting policies between parent and subsidiary are not required. Uniform accounting policies between parent and subsidiary are required.
Measurement of noncontrolling interest Noncontrolling interest is measured at fair value, including goodwill. Noncontrolling interest components that are present ownership interests and entitle their holders to a proportionate share of the acquiree’s net asset.
Costing methods LIFO is an acceptable method. Consistent cost formula for all inventories similar in nature is not explicitly required. LIFO is prohibited. Same cost formula must be applied to all inventories similar in nature or use to the entity.
Measurement Inventory is carried at the lower of cost or market. Market is defined as current replacement cost, but not greater than net realizable value (estimated selling price less reasonable costs of completion and sale) and not less than net realizable value reduced by a normal sales margin. Inventory is carried at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price less the estimated costs of completion and the estimated costs necessary to make the sale.
Reversal of inventory write-downs Any write-down of inventory to the lower of cost or market creates a new cost basis that subsequently cannot be reversed. Previously recognized impairment losses are reversed up to the amount of the original impairment loss when the reasons for the impairment no longer exist.
Revaluation of assets Revaluation not permitted. Revaluation is a permitted accounting policy election for an entire class of assets, requiring revaluation to fair value on a regular basis.
Depreciation of asset components Component depreciation permitted but not common. Component depreciation required if components of an asset have differing patterns of benefit.
Measurement of borrowing costs Eligible borrowing costs do not include exchange rate differences. Interest earned on the investment of borrowed funds generally cannot offset interest costs incurred during the period. Eligible borrowing costs include exchange rate differences from foreign currency borrowings.
Investment property Investment property is not separately defined and, therefore, is accounted for as held for use or held for sale. Investment property is separately defined in IAS 40, Investment Property, as property held to earn rent or for capital appreciation (or both) and may include property held by lessees under a finance or operating lease. Investment property may be accounted for on a historical cost basis or on a fair value basis as an accounting policy election. Capitalized operating leases classified as investment property must be accounted for using the fair value model.
Method of determining impairment — long-lived assets Two-step approach requires that a recoverability test be performed first (carrying amount of the asset is compared with the sum of future undiscounted cash flows generated through use and eventual disposition). If it is determined that the asset is not recoverable, an impairment loss calculation is required. One-step approach requires that impairment loss calculation be performed if impairment indicators exist.
Assignment of goodwill Goodwill is assigned to a reporting unit, which is defined as an operating segment or one level below an operating segment (component) Goodwill is allocated to a cash-generating unit (CGU) or group of CGUs that represents the lowest level within the entity at which the goodwill is monitored for internal management purposes and cannot be larger than an operating segment (before aggregation) as defined in IFRS 8, Operating Segments.
Reversal of loss Prohibited for all assets to be held and used. Prohibited for goodwill. Other long-lived assets must be reviewed at the end of each reporting period for reversal indicators. If appropriate, loss should be reversed up to the newly estimated recoverable amount, not to exceed the initial carrying amount adjusted for depreciation.


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Six Sigma


1.  Client Name: Poornima Redla
    Company Name: Cleanon Hospitality Services Pvt. Ltd.
    Designation: Director
    Course Name: 
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai


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    Company Name: Bokaro Power Supply Co. Ltd.
   
Designation: Junior Manager
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Kolkata


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    Company Name: N/A
   
Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai


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4.  Client Name: Abhishek Kumar Mishra  
    Company Name: Bokaro Power Supply Co. Ltd.
   
Designation: Junior Manager
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Kolkata


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5.  Client Name: DR Vandana Sardana
    Company Name: Sita Ram Bhartia Institute of Science and Research
    Designation: Associate Consultant Pathologist
    Course Name: 
Henry Harvin's Lean Six Sigma Green Belt
    City: Noida


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6.  Client Name: Supriya Amay
    Company Name: Team Lease Services Ltd.
    Designation: Quality Manager
    Course Name:
Henry Harvin's Lean Six Sigma Black Belt
    City: Bangalore

    Client Name: Kushagra Mathur
    Company Name: Loginext Solutions Pvt. Ltd.
    Designation: Manger Operations
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon


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7.  Client Name: Bhoomica Nataraja
    Company Name: Schneider Electric India
    Designation: Senior Functional Analyst
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Bangalore

    Client Name: Nitish Singh
    Company Name: Schneider Electric India
    Designation: Technical Analyst
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Bangalore


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8.  Client Name: Ambarish Jakate
    Company Name: Selec Controls PVT ltd
    Designation: BDE
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai


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9.  Client Name: Ankita Prasad
    Company Name: N/A
    Designation:  N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Hyderabad


    Client Name: Ankit Taragi
    Company Name: Larsen and Toubro
    Designation: Asst. Manager Poject Monitoring and Control
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Pune


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10. Client Name: Bholendra Pratap Singh
    Company Name: Videocon Industries Limited
    Designation: Head - Corporate Strategy Team (Mobile Phone Vertical)
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon


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11. Client Name: Aditya Ghag
    Company Name: Aditya Birla Finance Limited.
    Designation: Operations Executive - Capital Market Group
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai



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12. Client Name: Gowri Shankar
    Company Name: Student
    Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai


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13. Client Name: Mohd Abbas
    Company Name: Basmah Metal Furniture Company
   
Designation: Production Engineer
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai


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14. Client Name: Shrikant Kulkarni
    Company Name: Freelancer
   
Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Black Belt
    City: Pune


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15. Client Name: Veekshith K Shetty
    Company Name: Keystone Automotive Operations Inc.
    Designation: Process Associate
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Bangalore


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16. Client Name: Marimuthu J.
    Company Name: N/A
    Designation:  N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai


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17. Client Name: Gaurav Sagarwal
    Company Name: CPA GLOBAL
    Designation: Project Lead
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Noida


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18. Client Name: Veekshith K Shetty
    Company Name: Keystone Automotive Operations Inc.
    Designation: Process Associate
    Course Name: 
Henry Harvin's Lean Six Sigma Green Belt
    City:
Bangalore

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19. Client Name: Abhishek Johri
    Company Name: Ameriprise Financial
    Designation: Associate Team Lead
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon


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20. Client Name: Sarvesh Mehra
    Company Name: Digital River World Payments AB ,Stockholm, Sweden
    Designation: Senior QA Engineer
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon


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21. Client Name: Anil Shyam Butani
    Company Name: ABIT Ptv Ltd.
    Designation: Senior Business Analyst
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai


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22. Client Name: Mehboob ur Rahman
    Company Name: Aditya Aluminium - Hindalco Industries Limited
    Designation: Assistant Manager
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Kolkata


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23. Client Name: Sai Prashanth B
    Company Name: Schneider Electric
    Designation: SCM - Engineer
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai


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24. Client Name: Aarti Prabhakar Padole
    Company Name: Bioclinica India Privet Ltd.
    Designation: Senior Associate - Project Quality and Compliance
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Bangalore


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25. Client Name: Shikha Mehra
    Company Name: Philips Lighting India Ltd.
    Designation: Quality Project Leader
    Course Name: 
Henry Harvin's Lean Six Sigma Green Belt
    City: Noida


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26. Client Name: Suman Singh
    Company Name: N/A
    Designation: HR Operations
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon


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27. Client Name: Ashok P
    Company Name: Par Bioscience Pvt Limited.
    Designation: AGM-QA
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai


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28. Client Name: Neha Borkar
    Company Name: Student
    Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai




29. Client Name: Shivin Upasani
    Company Name: Student
    Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Noida




30. Client Name: Tejendra Joshi
    Company Name: EInfochips Limited
    Designation: Sr. Technical Lead
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai




31. Client Name: Rupali Rawat
    Company Name: Granite Digital
    Designation: Junior Project Manager
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon




32. Client Name: Dinesh Chilveri
    Company Name: N/A
    Designation: N/A
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Gurgaon




33. Client Name: Pankaj Sharma
    Company Name: Faurecia Automotive seating india Pvt. Limited
    Designation: Engineer
    Course Name:
Henry Harvin's Lean Six Sigma Black Belt
    City: Gurgaon




34. Client Name: Shriti Raj
    Company Name: Vmware
    Designation: Senior Member of Technical Staff
    Course Name:
Henry Harvin's Lean Six Sigma Black Belt
    City: Bangalore




35. Client Name: Annapoorna Vaitheeswaran
    Company Name: N/A
    Designation: N/A
    Course Name: 
Henry Harvin's Lean Six Sigma Green Belt
    City: Chennai




36. Client Name: Hardik Modi
    Company Name: Bharat Wire Ropes Ltd.
    Designation: Engineer-(Production/Industrial)
    Course Name:
Henry Harvin's Lean Six Sigma Green Belt
    City: Mumbai


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SIX SIGMA

Six Sigma is a quality management methodology aimed at performance improvement by reducing the number of defects to 3.4 or few defects per million items produced and a subsequent increase in profits and decrease in costs. It mainly targets to remove the obstacles in a process which are resulting in defects. Six sigma rating indicates that 99.999966 % of what is produced is free from all kinds of defect and is a quality product.

Pros

A methodology proactive in nature and examines the entire production process to identify process improvement for removing defects even before their chance of occurrence.

Cons

Rigidity in planning process due to holistic approach limiting the creativity and innovation of team members


For more information of Six Sigma Click Here 

PRINCE2

PRINCE2 (an acronym for Projects In Controlled Environments) is a process-based method for effective project management. It is widely recognized and used in public sector and is especially used extensively by the government of UK .It serves as one of the best guide on project management. It provides the ability to manage business and deal with project risk more effectively. It is considered as an invaluable asset as it brings effectiveness in the performance of employees and increases the employment prospects for an individual. It was originally based on PROMPT, a project management method created by Simpact Systems Ltd.

Pros

The excess documentation involved can be helpful in tracking performance and corporate planning.

Cons

It is quite difficult to adapt to project changes as maintaining documents and logs require considerable efforts.
 
Where does the difference lie?

 

  1. Lean Six Sigma is a six sigma certification that deals with the way to solve the problem whereas PRINCE2 lays down the mechanism to run the problem.
  2. Six Sigma doesn’t allow execution and completion of a large IT project in a way that it is delivered on time, in the budget and within the scope whereas PRINCE2 is a process that specializes in project management and ensures that its complete focus is on delivering the project within the time frame set by the company.
  3. Six Sigma relates to specific methodologies which help in understanding how business processes are performing, what isn’t working i.e. where the waste is occurring in the process life cycle and then the process of rectification is carried out to ensure minimum wastage. 
  4. On the other hand methodologies like PRINCE2 sets out a framework in managing the delivery of the project. They are defined in such a manner which clearly lay down that what it needs to have in the place in order to make the project work.
  5. Six Sigma is mainly based upon Lean Process Improvement whereas Prince 2 is based on Waterfall/Sequential Project Management.

About Six Sigma training and certification

5-days/20-hours Live Online Six Sigma Certification Course on Weekends. Post completion, you get additional 6-months/12-hours Post Certification Live-Online Action-Oriented Expert Sessions which helps you in implementation of your learning

Curriculum:

1.  Module 01 - Getting Started with Six Sigma  
2.  Module 02 - Define Phase
3.  Module 03 - Measure Phase
4.  Module 04 - Anayze Phase
5.  Module 05 - Improve Phase 
6.  Module 06 - Control Phase
7.  Module 07 - Lean Methodology
8.  Module 08 - Integrate the Learning 

IVR No: +91 9015266266
Whatsapp No: +91 9599914134
Email: sahil@henryharvin.com

To Download Six Sigma BrochureClick Here 
 ..

SIX SIGMA

Six Sigma is a quality management methodology aimed at performance improvement by reducing the no of defect to 3.4 or few defects per million items produced and a subsequent increase in profits and decrease in costs. It mainly targets to remove the obstacles in a process which are resulting in defects.

PMP

Project Management Professional (PMP) is the one of the most significant Certification for project managers. It is an International Designation offered by Project Management Institute (PMI). PMP certified project managers are employed by organisations all over the world as they seek to improve the success rate of projects in all areas, by applying a standardized and evolving set of project management principles as contained in PMI's PMBOK Guide.

It contains over 42 processes which can be adopted for successful completion and implementation of the projects.

Where the difference lies?

The main difference between Project Management Professional (PMP) and Six Sigma lies in the Methodology.

PMP uses various project management principles and processes to improve the success rate of the projects. On the other hand, Six Sigma leverages statistics to identify the defects and remove those defects for improvement in quality of the process.
 
LEARNING
 
Under Six Sigma Certification, the learning is imparted with the main focus of reducing defects as much as possible in order to reduce time and improve quality as per the standards set by the Company whereas in PMP Certification, learning is imparted to the practitioners with the main focus on how to properly plan and execute projects in order to ensure a high success rate for the projects.

For more information of Six Sigma Click Here
 

DESIRE
 
The desire for PMP certification generally arises in an individual himself in order to develop his competencies in the challenging world whereas the need and criteria for Six Sigma Certification is specified by the company to makes its employees more efficient and capable of performing in the organisation.
 
NATURE
 
Project Management Professional is broad in nature as compared to Six Sigma which is much more specific and conceptually broad in nature.
 
WORK-CYCLE
 
Most of the Black Belts after the certification have to work for minimum 12-24 months in full time employment but there is no such obligation for the Project Management Professionals. However PMP have to complete 60 PDU’s in next 3 years to maintain certification.
 
COST ESTIMATION
 
Average Cost Incurred in completion of Six sigma black belt is quite high as it ranges between 25000-50000 US $ whereas the estimated costs in certification of PMP is significantly low at just 1500-3000 US $.

About Six Sigma training and certification


5-days/20-hours Live Online Six Certification Course on Weekends. Post completion, you get additional 6-months/12-hours Post Certification Live-Online Action-Oriented Expert Sessions which helps you in implementation of your learning

Curriculum:

1.  Module 01 - Getting Started with Six Sigma  
2.  Module 02 - Define Phase
3.  Module 03 - Measure Phase
4.  Module 04 - Anayze Phase
5.  Module 05 - Improve Phase 
6.  Module 06 - Control Phase
7.  Module 07 - Lean Methodology
8.  Module 08 - Integrate the Learning 

IVR No: +91 9015266266
Whatsapp No: +91 9599914134
Email: sahil@henryharvin.com

To Download Six Sigma Brochure: Click Here 
 
 ..

Tata Consultancy Services (TCS) is one of the largest Indian Multinational Software, Consulting and Business Solutions Company which is currently operating in 46 countries. It has now been placed in the ‘Big 4’ and considered among the most valuable IT Brands worldwide. TCS is ranked at 10th position in Fortune India 500 list as in December 2015.

Main Focus

The main focus of Tata Consultancy Services is to ensure an effective mechanism to meet the customer requirements, through improvement in process quality. Improving the process quality implied reducing the number of defects in the process mechanism which can be attained through
Henry Harvin Six Sigma implementation.

Primary Objectives in the light of six sigma implementation are

 (a) Improving On-time Delivery
 (b) Improving Product Quality
 (c) Improving In-Process Quality

Carrying Out the Six Sigma Approach

In the Global Engineering Development Centre of Tata Consultancy Services (TCS–GEDC) situated at Chennai, the 
Henry Harvin Six Sigma Approach is carried out in order to maintain discipline and rigorous progress in quality process. 

Henry Harvin Six Sigma Quality quantitatively means that the average process generates 3.4 defects per million units which imply almost flawless execution to achieve customer satisfaction and productivity in growth.

Reasons due to which online Six Sigma approach was adopted in TCS

      (a) Develops robust products and processes.
      (b) Reduces the waste chain.
      (c) Improves delivery and quality performance.
      (d) Affords a better understanding of customer requirements.

Six Sigma initiative started in TCS–GEDC in 1998, and, since then 10 Six Sigma projects have been successfully completed. These projects include Improvement of Schedule Compliance, Quality Compliance, Input Quality, Error Reduction, Cycle Time Reduction and Design Improvement.
 
TCS implemented Six Sigma Methodologies in the following areas

      (a) Six Sigma for Organizational Business Process Improvement
      (b) Six Sigma for Product Quality Improvement
      (c) Six Sigma Consultancy for Engineering Services

Benefits to TCS from Six Sigma Implementation

The thrust on Six Sigma Quality has helped in creating and maintaining customer focus in TCS-GEDC, leading to improved customer satisfaction as indicated in the feedback obtained from the customer.

 At the same time, active participation of the team members in the Six Sigma projects has evolved an environment of effective team work leading to increased productivity.

The goal is to achieve Six Sigma level not only in quality of the product but also in the other metrics of on-time delivery and compliance. Adoption of Six sigma projects have helped TCS in customer retention and even attracted a lot of customers to its existing base.

Presently, TCS – GEDC has 6 Black Belt and 30 Green Belt projects being carried out in different Business Groups. The Green Belt Projects have been derived from the analysis phase or improvement phase of the Black Belt projects.

Want to get more information about Six Sigma certification and training?
Connect with one of our consultants for more information!
Email us now at kounal@henryharvin.com or call us at our centralized number: 9015266266.
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