Moments of change

📊 Summary of Key Findings • US youth entrepreneurship rate surges : 24% of US youth aged 18-24 have started a business, the highest rate in history. • Stable college enrollment rate in the U.S .: The college enrollment rate immediately after high school graduation remains stable at 61.4% (2023) → 62.8% (2024). • Change in motivation : 62.5% of American entrepreneurs cited the difficulty in finding a job as their motivation, making their choice based on economic necessity rather than passion. • Burden of US education costs : Private universities cost $62,990 per year, a whopping $252,000 for four years. • Social Media Influence : 88% of Gen Z in the US follow influencers, and 40% learn about entrepreneurship through social media. • Portfolio careers : American youth are pursuing a combination of diverse career paths, rather than a dichotomy of college vs. entrepreneurship. 🎯 Analysis by core keywords US Economic Precarity Gen Z in the United States grew up in the wake of the 2008 financial crisis and the COVID-19 pandemic. Forty-eight percent of young Americans feel financially insecure, and 52% report not earning enough to live the lifestyle they want. Specifically, the unemployment rate for new entrants to the US labor market has risen 9% year-over-year (as of February 2025), and the unemployment benefit rate for Gen Z households has increased by 32%. This anxiety has led to disillusionment with the traditional 9-to-5 work model of American corporate culture, leading many young Americans to seek greater control and stability through entrepreneurship. US Student Debt Crisis The total student loan debt in the United States stands at $1.81 trillion, larger than credit card or auto loans. The average Gen Zer owes $22,950 , but their average monthly payment is $526, nearly double the overall average of $284. With the total cost of four years at a private American university reaching $252,000, only 53% of American students report being able to afford college, and only 39% of Black students report being able to afford it. This is a major factor forcing many young Americans to reassess the value of their education investment. US Social Media Ecosystem Social media plays a dual role in shaping Gen Z entrepreneurship in the US. Eighty percent of Gen Z entrepreneurs start businesses that include online or mobile elements, and more than 60 percent of Gen Zers in the US purchase a product they first saw on social media . MrBeast (Jimmy Donaldson) has 419 million YouTube subscribers, employs over 250 people, and runs various businesses, including MrBeast Burger and Feastables. Emma Chamberlain , with her 12 million YouTube subscribers, launched Chamberlain Coffee and became a Louis Vuitton ambassador. These American influencer success stories are a powerful motivator for young people. However, the reality is harsh. The failure rate for startups in the United States is 20% within the first two years, 45% within five years, and 65% within ten years, presenting significant risks. Notably, 18% of businesses close in the first year alone. US Generational Value Shift Gen Z in the US has different values than previous generations. According to a 2024 Deloitte survey, only 6% of Gen Z in the US identify leadership positions as their primary goal, instead prioritizing work-life balance and autonomy. 89% of Americans value a sense of purpose in their work and prefer businesses that consider the environment and social impact. This is perceived as better achieved through entrepreneurship than through traditional American corporate culture , which explains why many young Americans are drawn to entrepreneurship. US Portfolio Career In reality, the stable college enrollment rate and rapidly rising entrepreneurship rate in the United States are not mutually exclusive. Young Americans are pursuing a combination of "college + entrepreneurship," not "college vs. entrepreneurship. " To prepare for economic uncertainty in the United States, building a portfolio career that combines multiple assets, including degrees, practical experience, and entrepreneurship, is emerging as a new strategy. Many American college students are running side businesses while still in school, diversifying their post-graduation options. US Educational ROI

Have you ever had the experience of having hundreds of digital notes piled up and taking forever to find the information you need? Do you often find yourself saving important information in a note app but not remembering where it is when you need it? If you are stressed out by notes scattered across your laptop, smartphone, and tablet, the PARA system may be the solution. What is PARA? PARA is a super simple information organization method developed by Thiago Forte that helps you organize your thoughts and information in a complex digital world. As the name suggests, it is a method of organizing all your information into four simple categories: Projects : Work being done right now A reas (area): an area of life that requires constant attention Resources : Information that may be useful someday. A rchives (archives): information that is no longer needed or that has been discontinued Traditional folder organization methods categorize information by subject. Cooking recipes go into the “Cooking” folder, English study materials go into the “Language” folder. But PARA takes a completely different approach. It categorizes information based on the question, “Do I need it right now?” Using PARA in real life Projects This is where you put all the "due" tasks. For example: Write a weekly report for this week Travel plans for next month Preparing to move Renew your blog This category includes things that are usually completed within three months. They are characterized by a deadline and a clear completion date. Areas These are areas of life that you have to constantly manage. These are areas of responsibility that have no end point: Health Care Financial Management Family Relationships

Key points The global labor market is expected to undergo a major transformation between 2025 and 2030. 170 million new jobs will be created, while 92 million jobs will be lost due to AI and digitalization. As a result, a net increase of 78 million jobs is expected. To cope with these changes, 59% of workers will need to retrain by 2030, and 86% of companies expect AI technologies to fundamentally change their business. The new landscape of the labor market Technological innovation and job changes Digital accessibility is expected to create 19 million new jobs and replace 9 million existing jobs. AI and information processing technologies are expected to create 11 million jobs while simultaneously reducing 9 million jobs. Robotics and automation systems are expected to be the only net job loss of 5 million. Growing and Declining Occupations The fastest-growing occupations are data scientists, fintech engineers, AI/ML specialists, and software developers. Environmental engineers and renewable energy engineers are also among the top 15 fastest-growing occupations. In the field, demand is expected to increase for agricultural workers, delivery drivers, construction workers, salespeople, and food processing workers. On the other hand, office-related occupations such as postal service workers, bank tellers, and data entry clerks are expected to see a significant decline. Changes in required core competencies Seventy percent of companies identify analytical thinking as the most important core competency. Resilience, flexibility, and agility are the next most important competencies, while leadership and social influence are also high on the list. In terms of technical competencies, AI and big data-related technologies are growing the fastest, while the importance of networks, cybersecurity, and technical literacy is also increasing. Regional characteristics and responses High-income countries are facing the challenges of aging and a shrinking workforce, while low-income countries are faced with the challenge of creating jobs for their growing youth population. North America is expected to require retraining by 2030, exceeding the global average by 67%, while Central Asia has a relatively low retraining need at 50%. Corporate Response and Future Strategy Human Resources Management Strategy 85% of companies have identified retraining their workforce as a top priority, and 70% plan to hire workers with new skills. 40% of companies expect to reduce their workforce due to technological change, and 52% expect wages to increase as a share of total revenue by 2030. Supporting employee health and wellbeing has emerged as a key strategy for attracting talent. Strengthening Diversity and Inclusion The implementation rate of corporate diversity, equity, and inclusion policies has increased significantly from 67% to 83% in 2023. In particular, 95% of large enterprises with more than 50,000 employees and 96% of North American companies have adopted such policies, and women, people with disabilities, and Generation Z (under 25 years old) were identified as key target groups for diversity. AI Adoption and Workforce Transformation 77% of companies plan to retrain for AI collaboration, 69% are considering hiring specialists to design AI tools, and 62% are considering hiring people who can collaborate with AI. 49% of companies are planning to restructure their business models to accommodate AI opportunities, and 47% are preparing to shift staff from jobs that will be eliminated by AI to other jobs.

• 52% of graduates work in jobs unrelated to their major • 73% of graduates positively evaluated the value of their education investment • 69% of companies spend 3-6 months training new employees • 73% of companies are using GenAI, but 55% of graduates are not prepared Coverage Current status of the education system The Value of Degrees and Certifications Job Readiness Assessment The effectiveness of investment in education Industry Requirements New Talent Competency GenAI Utilization Need for re-education The direction of future education Practice-oriented training Strengthening technical education Lifelong learning system The contemporary need for educational innovation Rediscovering the value of education A recent survey found that perceptions of education have improved significantly. The perceived value of all types of education has increased, including two-year degrees (73%), four-year degrees (70%), job training (77%), and technical certifications (74%). Of particular note is that job training programs have the highest satisfaction ratings, suggesting that practical education is becoming more important in the job market. Changes and challenges in the industrial field The influence of GenAI is rapidly expanding in the modern industrial environment. 73% of companies are already utilizing GenAI, and the main areas of use are research (49%), document creation (47%), data analysis (43%), brainstorming (36%), and product development (27%). However, the response of educational institutions is still inadequate. 55% of educational institutions do not encourage the use of GenAI, resulting in 40% of students using GenAI informally for learning. Expanding practical training Educational institutions are introducing various programs to strengthen practical skills. 69% are providing internships and field training, and 65% are operating a curriculum linked to actual work. They are also providing comprehensive employment support services such as resume writing and mock interviews (65%), workplace etiquette training (65%), networking events (59%), and mentoring programs (56%).

• Support of $500,000 to $2 million+ per organization, totaling $30 million • For non-profit organizations, civic groups, academic institutions, and social enterprises • Applications accepted from January 7 to February 10, 2025 • Google expert mentoring, technical training, and Cloud credits • Participation 4 hours a week for 6 months, mixed online/offline operation Program Introduction Google.org has launched a large-scale program to support social innovation projects using generative AI. This program is a comprehensive growth support program that goes beyond simple financial support and utilizes Google’s expertise and technology. Key areas of support Selected organizations will develop innovative solutions across three key areas: knowledge, technology, and learning; science and technology advancement; and resilient communities. Each area has specific goals, including improving AI literacy, accelerating scientific discovery, and enhancing digital safety. How it works The program will run for 6 months and requires 4 hours of weekly participation from key personnel including decision makers and technical project leaders from participating organizations. There will be at least 2 offline meetings along with online training, and a presentation of the developed prototype will be held at the end of the program. Evaluation and Support Conditions When applying, the feasibility of the project, the usability of generative AI, scalability, and willingness to participate in the program will be evaluated in detail. In particular, the developed results must be provided as open source, and the grant can be used over a period of 30 months. Finish Google.org hopes that through this program, generative AI technology will contribute to solving real social problems and help create a better world. We look forward to the interest and participation of many organizations with innovative ideas.

As the number of ways to start a business online increases, interest in starting a business without capital is also increasing. However, many of the information only presents rosy prospects that are far from reality, so we would like to look at methods that are actually possible. The Reality of Dropshipping Dropshipping has the advantage of allowing you to start selling without inventory, but in reality, it comes with several challenges. Merit: No initial inventory costs No need to handle logistics yourself Ability to test a variety of products Disadvantage: Long delivery times may result in customer dissatisfaction Quality control is difficult Competition from other sellers is fierce. Marketing costs are required Print-on-demand business Print-on-demand is a business that can be started with just a design. A realistic approach: Basic design skills required Platform fees need to be considered Differentiated design is the key The profits may not be great at first. Selling digital products

• Sleep takes up 28.3 years, or 1/3 of your entire life. • Work-related activities are the second longest at 10.5 years • TV, games and social network usage is third at 9 years • Everyday household activities take 6 years • How you spend the remaining 9 years is your personal choice. Basic living time Sleep takes up the most time in our lives. We spend an average of 28.3 years sleeping, which is about 1/3 of our total lifespan. A significant amount of time is spent on personal hygiene, grooming, and eating, which is 5 years. Work and Education At 10.5 years, we spend our time at work, the second longest after sleep. At 3.5 years, we spend our time in education, which is relatively short considering the importance of lifelong learning. Leisure and Media Consumption Modern people spend a whopping nine years watching TV, playing video games, and using social networks. That’s almost three times as much time as they spend in education, a testament to the digital age. Daily activities and household chores Housework and household chores take 6 years, shopping takes 2.5 years, childcare takes 1.5 years, and commuting to work takes 1.3 years. These essential daily activities take up a total of 11.3 years. Meaning of remaining time The remaining nine years of life, after all the above activities, are free to be used as one chooses. How one spends this precious time can vary depending on one's values and goals, and this can have a significant impact on the quality and satisfaction of one's life. The Importance of Time Management This data clearly shows the proportion of each activity in our lives, and suggests that we need to think about how to use our limited time effectively. In particular, making meaningful use of our nine years of free time can play an important role in increasing our overall life satisfaction.

• The importance of critical thinking and its application in everyday life • Six key question categories: Who, What, Where, When, Why, How • Meaning and usage of 8 modified detailed questions for each category • Improve problem solving and decision making skills through critical thinking We are faced with a lot of information and situations every day. In this complex world, critical thinking skills are essential to make good judgments and effective decisions. Critical thinking is not simply accepting the information given, but the ability to analyze it deeply and look at it from various perspectives. Six Key Questions for Critical Thinking The 48 questions for critical thinking can be broadly divided into six categories: who, what, where, when, why, and how. These questions allow us to look at the problem or situation we are facing from various angles. Who questions help you identify the people involved in a situation. For example: Who is the most vulnerable in this situation? Whose opinion should be given the most weight? Who are the experts needed to solve this problem? Whose perspective is being left out? What questions are important in identifying the nature of the problem and the key issues. For example: What is the root cause of this problem? What more data do you need? What are the most urgent challenges? What are we overlooking in this situation? Where questions help us understand the spatial context of the problem. For example: Where is this problem most severe? Where can I get additional resources? Where can we first pilot this solution? Where have similar problems been successfully solved? When- related questions require consideration of temporal context. For example: When does this problem become most severe?

Surprise snack Surprise your team with breakfast, lunch, or snacks every now and then. This is a great way to recognize and thank your team for their hard work. Personalized Award Create fun, personalized awards that recognize your team members’ unique contributions or qualities. These can be humorous or serious, reflecting your team’s culture. Study Support Fund Offer your team members a stipend to spend on courses, books, or conferences of their choice. This sends a message that you value personal and professional development. Additional vacation time Give your high-performing employees extra paid time off. This could be a full day, a half day, or even the ability to leave work a few hours early on Fridays. Office Improvement Consider improving your office environment by incorporating employee suggestions, such as new furniture, a better coffee machine, or a standing desk. This shows that you are listening to your employees’ needs. Employee Compliments Board Create a physical or digital “acknowledgement board” where team members can publicly recognize each other’s efforts and accomplishments. A day where you can work anywhere Allow your employees to work from wherever they want for a few days. This will be especially appreciated by employees who enjoy new environments. Custom corporate supplies Give out custom company items like branded apparel, accessories, or gadgets that your employees would actually use. Creating a Mentoring Program Connect your team members with mentors within your organization to help them grow professionally and feel more connected to the company. Family involvement

• Whale Focus: Focusing on one thing at a time • Crocodile Patience: The Power of Waiting for the Right Moment • Human sustainability: small efforts can create big changes • Lion’s cooperation: Together we can achieve greater goals Reading the world with your teeth Nature constantly speaks to us. Among them, the teeth of animals convey a special message. More than just a tool for catching prey, teeth contain each animal’s survival strategy. Surprisingly, these strategies contain wisdom that can be applied to our daily lives. Let’s explore the secrets of life hidden in the teeth of animals together. Orca: The Master of Focus The power of a killer whale's teeth is 19,000 PSI. That's more than seven times the power of 2,500 PSI, which can crush a car. The secret to this incredible power is 'concentration.' When orcas hunt, they pour all their energy into one spot. They contract all their muscles at once to create tremendous power. This teaches us an important lesson in life. If you try to do several things at once, it is difficult to do any of them properly. However, if you focus completely on one thing, you can produce amazing results like orcas. Pick one important task each day, and when you do it, put everything else aside and focus on it completely. Put your phone on silent mode, turn off email notifications. If you imitate the concentration of the killer whale, you will be amazed at what you can do. Crocodile: The epitome of patience The bite force of an alligator's teeth is 5,000 PSI, which may seem weak compared to that of an orca. However, the real strength of an alligator lies in something else: patience. Crocodiles spend most of their time quietly waiting in the water when hunting. Sometimes they wait patiently for hours or even days, and then they quickly attack at the right moment. This is an important virtue in our lives as well. Not everything has an immediate result. Sometimes we need time to prepare and wait quietly. Let's set a long-term goal and plan small steps to achieve that goal. It is important to practice the plan a little bit every day and develop patience. Even if you don't see immediate results, don't give up. If you wait patiently like a crocodile, an opportunity will surely come. Human: The Power of Persistence The strength of human teeth is only 160 PSI. Compared to killer whales or crocodiles, it is a very small amount. However, humans have dominated the world with this small strength. The secret lies in 'continuity'. Humans have used their small power steadily and continuously. They have made tools, handled fire, farmed, and developed civilization. This shows how small efforts can accumulate to create big changes. You should not ignore your own small talents or skills. It is important to polish and develop them little by little every day. If you grow just 1% a day, you can grow 37 times in a year. Over time, those small efforts will lead to big changes. Lion: The Aesthetics of Cooperation The teeth of an individual lion are not that strong. However, lions hunt in groups. When several lions join forces, they can catch much larger prey. This shows the power of 'cooperation'. The same is true in our lives. Things that are difficult to accomplish alone become possible when many people join forces. We must remember that sometimes cooperation can produce greater results than competition. It's a good idea to look for opportunities to collaborate with people around you. Start a joint project or participate in community service. Working together will give you new ideas and strength.

Summation: • Decide on valuable habits • Form one habit at a time • Quit all bad habits at once • Set your goals very low • Track your progress • Dealing with setbacks • Embracing a new lifestyle Text: Deciding on a valuable habit Darius Foroux recommends that the first step in habit formation is to ask yourself the question, **"Will this habit improve the quality of my life?"** Not all habits have a positive impact on our lives, so we need to choose habits that truly align with our goals and values. Foroux gives the following as examples of valuable habits: Work out Set daily priorities Reading 7-8 hours of sleep Gratitude practice Meditation Money Management Writing Form one habit at a time The book suggests focusing on one habit in each area of your life (career, health, learning, finances, relationships), because trying to change too many things at once can lead to failure. For example, it is better to set specific, actionable goals, such as walking 30 minutes a day for health or reading 10 pages a day for learning. Break all your bad habits at once Foroux argues that the most effective way to break all your bad habits at once is to keep one bad habit, because it’s easy to fall back into another bad habit. For example, if you’re trying to quit drinking alcohol but at the same time continue to eat unhealthy foods, you might end up thinking, “This burger goes well with beer.” Bad habits to break, according to Foroux: Strain Worry

In modern society, time is one of the most precious resources. We all have the same 24 hours in a day, but some people seem to use that time much more efficiently. What’s their secret? It’s because they’ve mastered effective time management techniques. Today, we’ll take a closer look at six proven time management methods that can help you maximize your productivity and enrich your daily life. Dealing with the hardest tasks first This method of tackling the most difficult or important tasks first when starting your day is inspired by a quote from American author Mark Twain. His advice to eat the biggest “frog” in the morning means to not procrastinate on the most difficult tasks but to tackle them immediately. The key to this technique is to utilize the time of day when our willpower and focus are at their highest. Usually, our minds are clearest and most energetic in the morning. By tackling the most difficult tasks at this time, you can feel a great sense of accomplishment and liberation for the rest of the day. This method is especially effective in combating procrastination. If you keep putting off difficult tasks, you will become stressed and eventually the quality of your work will suffer. On the other hand, if you tackle the most difficult tasks first, you will reduce the psychological burden and be able to focus more on the rest of your work. Practical tips: Set your most important tasks for the next day the night before. Start doing that as soon as you wake up in the morning. Break down big tasks into smaller steps. Pomodoro Technique Developed by Francesco Cirillo of Italy, this technique involves 25 minutes of focused work followed by 5 minutes of rest. After repeating this cycle four times, a longer break of 15-30 minutes is taken. The power of the Pomodoro Technique lies in its ability to take advantage of our brain’s natural attention cycle. Twenty-five minutes is the right amount of time for most people to maintain focus, and regular short breaks help recharge the brain and maintain long-term productivity. This method is especially useful for people who are easily distracted. Since you are focusing on one thing for a set period of time, you can effectively block out other distractions. Also, you can break down a large project into smaller parts, which can reduce the feeling of being overwhelmed. Practical tips: Use a timer to keep track of exactly 25 minutes of work and 5 minutes of rest. During your breaks, do activities that are completely separate from work (stretching, drinking water, etc.). Track your productivity by recording the number of Pomodoros you perform each day. Eisenhower Matrix Named after U.S. President Dwight D. Eisenhower, this technique categorizes all tasks into two axes: “important” and “urgent.” This creates four categories: Important and urgent matters: take care of them immediately

The painting consists of three panels and satirizes people's attitudes toward change. In the first panel, when the person standing on the podium asks, “Who wants change?”, all the audience members raise their hands enthusiastically and say they want change. This shows that people feel that change is necessary. In the second panel, when asked “Who wants to change?” most people put their hands down and bow their heads. This shows the reality that people think change is necessary, but are reluctant to change themselves. In the third panel, when asked, “Who wants to lead the change?” everyone turns their heads to look at someone else and no one raises their hand. This shows reluctance to take on a role in leading the change. This picture satirizes the reality that many people want change, but are hesitant to actually lead the change or to change themselves. It shows that although people want change, it is not easy to put it into practice or lead it. There are many reasons why people are reluctant to lead change. Understanding these reasons can go a long way toward creating an environment where organizations can effectively manage and lead change. One of the main reasons people are reluctant to change is the fear of failure . Leading change involves uncertainty and risk, which can lead to failure, and many people are afraid of taking responsibility for negative outcomes. Also, people prefer the comfort of the status quo . Change disrupts their daily routines and comfortable environments, and this discomfort makes them reluctant to change. Lack of confidence is also a big reason. Some people may doubt their ability to effectively lead and manage change, and may feel that they lack the necessary skills or experience. In addition, change has the potential for conflict . People are hesitant because they are concerned that it may create conflicts with colleagues, stakeholders, or within the team. Leading change often means increasing your workload . This can be even more difficult if your current job is already overwhelming. Taking on additional tasks and responsibilities can be overwhelming. Additionally, anticipating resistance from others can make you hesitant to initiate change. You may worry about pushback and opposition from your colleagues or superiors, and the criticism and resistance you may encounter as you lead change can be a huge source of stress. Leaders who lead change may feel unpopular when implementing change . This can make the leader unpopular because it requires making people uncomfortable or breaking away from the old ways. Insufficient support is also a big problem. Without support from senior management or the necessary resources, individuals may feel isolated and unable to make effective changes. Finally, past experiences of failed change attempts can make people reluctant to try again. Previous negative experiences can leave people feeling frustrated, which can make them hesitant to try new things. Understanding these reasons is critical to creating an environment in which organizations can drive change and to laying the foundation for managing change effectively.

Louis Pereira is a part-time indie hacker who runs an offline family business during the day and works on various projects on the internet at night. In March 2023, he was experimenting with the latest AI technologies and created four small products in just one week. Of these, AudioPen, a service that converts voice notes to text, was the most popular, and Louis saw the potential in this product and decided to focus on its development. During the product development process, Louis used the power of no-code tools. He completed the product design for free using Figma, and used Bubble.io, which costs $30 per month, to do the actual development. For Louis, who had no coding skills, no-code tools were the perfect choice. After about 12 hours of intensive development, he was able to complete the MVP (Minimum Viable Product) of AudioPen. To implement the core function of AudioPen, which is the text conversion of voice notes, Louis used OpenAI's Whisper API. Since speech recognition and conversion technology are difficult to implement with no-code tools, he solved this problem through API. Although there was a cost burden for using the API, it was a core function that was essential to AudioPen, so he was willing to pay this cost. Meanwhile, AudioPen’s launch coincided with a unique hackathon event called “Half Day Build,” where the goal was to turn an idea into a real product within 12 hours. Louis participated in the event and shared his product development process live on Twitter, which helped him attract early adopters and paying customers. AudioPen has been consistently profitable since its launch, and as an individual developer, Louis keeps operating costs to a minimum and sticks to a word-of-mouth marketing strategy. The only major expense is the cost of the AI API, which is essential for voice-to-text conversion, but Louis is willing to accept this cost as it is directly related to AudioPen’s core values. One of Louis’ main strategies is to use Loops, an email marketing tool, to communicate with users. While he didn’t think email updates would be very effective in the early days of the product, he has been consistently sending thoughtful update emails to build a personal connection with his users. Through all this, Louis has learned that it is important to be nimble and listen to the voice of the customer rather than being obsessed with ideas. His know-how is to constantly try out ideas until they are validated in the market, and then focus on the ones that are well-received. Thanks to Louis’ smart choice of no-code tools and his quick execution through APIs, AudioPen has now become a successful service with $15,000 in monthly revenue. Louis’s case proves that even without coding expertise, you can quickly create a prototype by appropriately utilizing no-code tools and APIs, and continuously improve it based on customer feedback to create a compelling product.

The project management success plan is a comprehensive guide that helps you manage the entire process from project initiation to completion systematically and efficiently. This plan is largely composed of the following areas: project initiation, risk management, cost management, communication, WBS management, project planning, execution, tracking, timeline management, and quality management. Project Start Business Case: State the need for the project and its expected benefits. Acceptance Criteria: Defining success criteria for project deliverables Project Proposal: Describe the project in detail, including its outline, objectives, scope, schedule, and budget. Project Charter: A document that formalizes project goals, responsibilities, and authorities. Feasibility Study: Analyzing the Project's Feasibility and Effectiveness Initial project risk assessment: Identify potential risk factors and develop response strategies Risk Management Incident Prioritization: Prioritize incidents based on their severity and likelihood of occurrence. Cause/Effect Diagram: Visually analyze the causes and effects of risk factors Issue Resolution Process: A systematic process for identifying, analyzing, and resolving issues that arise. Risk Identification: Identify potential risk factors throughout the project. Risk Register: Documentation of details about identified risk factors and response strategies. Risk Management Plan: Establishing strategies and approaches to manage risk factors Project Cost Management Cost-Benefit Analysis: Analysis of expected benefits compared to project costs Earned Value Template: Template for Calculating Expected Value for Project Investments Project Budget Template: Template for creating a budget for each project cost item. Cost Estimation: A reasonable estimate of the overall project and individual activity costs.