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A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system's purpose. View the full article

Stakeholders are anyone who has a vested interest in the project. They can be internal, such as project managers, teams, owners or investors, or external, such as clients, customers or suppliers. There can be a lot of stakeholders in any project and managing them requires stakeholder management templates. ProjectManager is project management software that helps you manage projects and stakeholders. If you’re not ready for a free trial of the software, we also offer dozens of free project management templates for Excel and Word that can help with every phase of your project. Here are some free stakeholder management templates. 1. Stakeholder Analysis Template There may be many stakeholders in any project, but your job as a project manager is to identify them. Each stakeholder can have a different interest or those interests can evolve over the course of the project. Using our free stakeholder analysis template for Excel helps you devise an effective stakeholder communication plan to keep them properly informed. /wp-content/uploads/2021/09/Stakeholder-Analysis-Screenshot.jpg There are fields to capture basic stakeholder information, including their title, contact information and influence or power over the project. Then you can place each stakeholder as they stand in relation to the project, noting their priority, if they have subject matter expertise and whether they’re decision-makers. Then you can assess each stakeholder’s commitment to the project and better manage them. 2. Project Status Report Template Stakeholders need to stay informed throughout the project. Depending on the stakeholder, however, that level of information and the frequency in which they’re updated can change. Whether they need details or just an overview, project managers still must report regularly. Using our free project status report template for Excel is a great tool to capture a period of time in the project. /wp-content/uploads/2021/11/Status-Report-Screenshot.jpg The trouble with a static template is that it has to be manually updated and the information can’t be customized to reflect each stakeholder’s concerns. Unlike static tools, ProjectManager is an online tool that delivers real-time data that can be filtered to show only the information relevant to each stakeholder. Not only can you generate a status report in mere keystrokes, but you can also generate reports on variance, portfolio and more. All reports capture real-time data so they’re accurate and can be easily shared in a variety of formats. Get started with ProjectManager today for free. /wp-content/uploads/2020/10/Light-mode-reporting-CTA-e1711992940366.pngLearn more 3. Stakeholder Map Template If you’re looking for a visual tool that can help you identify and chart your stakeholders, then you need to download our free stakeholder map template for Excel. You can use the stakeholder map to inform your decision-making when dealing with stakeholders. It’s essential to establishing a viable stakeholder communication plan. /wp-content/uploads/2021/03/Stakeholder-Map-Screenshot.jpg The stakeholder map template helps you to determine who wants to know what, when they need to know it and how they prefer to get their updates. This stakeholder map has four categories for managing your stakeholders: manage closely, keep satisfied, keep informed and monitor. Place each stakeholder you identify in the correct box and use color coding to show if they’re supportive, neutral or critical to the project. 4. Stakeholder Register Template A stakeholder register is an easy and streamlined way to lay out the information to better understand each stakeholder, their influence and the best way to manage them. Download this free stakeholder register template for Excel to help outline stakeholders and how they may impact the project. /wp-content/uploads/2024/06/stakeholder-register-template-screenshot.png Ideally, use this template during the project’s planning stage to identify stakeholders as early as possible. However, it can also help form and develop the project team to ensure the right people are selected. It’s also useful to use to define success criteria, helping project managers align objectives with stakeholder expectations. 5. Business Case Template Since stakeholders have a vested interest in the project, one of the things they’re most concerned about is the costs related to executing the project. They want to know if the investment costs are worth it. You can show them this with our free business case template for Word, which summarizes project objectives, costs and benefits. /wp-content/uploads/2022/07/Business-case-template-word-projectmanager-600x631.jpg The business case is important due diligence for stakeholders by proving that their investment in the project is beneficial. They can read an executive summary, the mission statement for the project and the final deliverable that’ll be produced. There’s a place to show the project objectives and how they’ll be achieved, the financial appraisal and market assessment plus more. It’ll help get buy-in from stakeholders. 6. Cost-Benefit Analysis Template Another free template that can help prove to stakeholders that the project is worth their investment is our free cost-benefit analysis template for Excel. It helps you look at the numbers and determine if the money you’re putting into the project is worth the deliverables. /wp-content/uploads/2021/07/Cost-Benefit-Analysis-Screenshot.jpg A cost-benefit analysis template does this by adding a dollar amount to the project’s costs and benefits. By subtracting the benefits from the costs you can see what the profit if any, is for the project. This can be financial gains, but it can also determine if the business objectives and goals are worth the costs. This information can help get stakeholders on board with the project. 7. RACI Matrix It’s clearly important to identify and define the roles and responsibilities of your project team, but often project managers will neglect the same exercise when dealing with project stakeholders. After that, your project team is just one of likely many stakeholders in the project. Using our free RACI matrix template for Excel allows you to categorize everyone involved in the project, including stakeholders. /wp-content/uploads/2020/05/RACI-Matrix-Screenshot.jpg RACI stands for responsible, accountable, consulted and informed. On our free template, you list all the stakeholders (or the entire project team) on the left side, while atop the chart is their title. In the corresponding box, you note if they’re responsible, accountable, consulted or informed. Now you have a document to guide everyone on the team, including stakeholders, who have different levels of involvement and impact on the project. 8. Skills Matrix Template Another free stakeholder management template is the skills matrix template for Excel. Stakeholders want to ensure the project team has the needed skills to deliver the intended outcomes on time, on budget and to the required quality standards. This free template can help you do just that. /wp-content/uploads/2025/04/skills-matrix-template.png This template captures relevant details like department and job roles to highlight areas of expertise and areas where critical skills are missing. Use it to ensure the right people are assigned to the right tasks, balance workloads and avoid bottlenecks. 9. Requirements Gathering Template Stakeholders want to know the problems being solved by the project, how it plans to achieve its objective, what condition or capacity must be met and more. That’s all addressed in our free requirements gathering template for Word. This is a key document for stakeholders and captures vital information about the project in one place. /wp-content/uploads/2019/08/Requirements-Gathering-Screenshot-600x482.jpgThere’s a lot covered in the free template. It lists the project requirements, from user, functional and system to software, interface, workflow, change and risks. This is more of a high-level view, which is appropriate for most stakeholders and avoids getting into the weeds. There’s even a section for everyone to sign off on the document to ensure they’re informed and in agreement. 10. Team Charter Template Team members are stakeholders, though not the only ones in a project. The free team charter template for Word is mostly focused on them, but it’s another essential stakeholder management template. It explains how the team fits into the larger context of the project, such as the project stakeholders. /wp-content/uploads/2021/03/Team-Charter-Screenshot-600x437.jpgBesides that, the free charter lists everyone involved in the project and provides contact information. There’s a section to outline the background of the project, its mission and objective, budget and resources and the decision-making process used by the team. There’s information on scope, performance assessments, activities and milestones and much more. It’s a great tool to communicate and get everyone on board with the project. 11. Communication Plan Template Speaking of communication, you need a communication plan to get information to your project team. Using our free communication plan template for Word will help you define objectives and schedule communication updates with stakeholders. It’s one of the more important stakeholder management templates in that a well-informed stakeholder is easier to manage and less likely to interfere in the project. /wp-content/uploads/2020/10/Communication-Plan-Screenshot-600x537.jpg Besides objectives, the communication plan template helps you define how you’ll achieve those objectives, in what timeframe and with what metrics to measure your success. You’ll figure out the staffing and tools associated with disseminating information as well as reviewing its effectiveness. Once you have a plan, it’s apt to change in order to remain relevant and effective. 12. Organizational Chart Template While it might not seem like a key stakeholder management template, knowing the organizational makeup of a company or project is how everyone in the organization or project team knows to who they report. Use our free organizational chart template for Excel. It’s a flowchart that shows the hierarchical internal structure of an organization or project. /wp-content/uploads/2022/11/organizational-chart-template-screenshot.jpg This document is an easy-to-digest visual of the chain of command. While smaller organizations, such as startups, or projects might not need the tool, the larger and more complex the organization or project is, the more essential this stakeholder management template becomes. It’s imperative that everyone knows who they report to and who has authority, which is exactly what this template illustrates. 13. Transition Plan Template Stakeholders will want to know that any transitions will be handled smoothly. A transition plan is a set of steps, goals and timelines to better prepare for change. This document offers a structure and framework to create a unique plan to help teams identify and address potential risks and uncertainties during a transition. This free transition template for Excel saves time and streamlines the process. /wp-content/uploads/2024/08/Transition-plan-template-screenshot-300x457.png Transitions can be stressful, but having a template makes the process easier. It’s especially useful to use when the project is shifting from one phase to another or when there’s a change in someone’s role or project. For example, leverage it when a team member is leaving a role to help inform what duties will change and who to inform. ProjectManager Helps With Stakeholder Management Once you’ve downloaded and used our free stakeholder management templates, you’ll quickly find that they can take you only so far. Templates, after all, much be manually inputted and updated, they’re not collaborative and are isolated from the rest of your project management tools. ProjectManager is project management software that helps you plan, manage and track your stakeholder management in real time. Share Project Plans With Stakeholders Projects need plans, but plans don’t work without your stakeholders. Creating a schedule on our robust Gantt charts allows you to manage the stakeholders on your project team, organize their tasks, link dependencies to avoid costly delays and assign them to work that you can track in real time. The project plan can be easily shared with the project team and stakeholders to keep everyone on the same page. /wp-content/uploads/2022/07/Construction-Gantt-Costs-Resources.jpg Monitor Progress and Performance in Real Time Once you set a baseline on the Gantt, you can track your planned effort against your actual effort. Not only does this help you keep to your schedule and budget, but stakeholders want to be updated on that valuable data as well. The real-time dashboard requires no setup, as with lightweight tools, and tracks everything from workload to cost and time in easy-to-read graphs and charts. It’s a great way to get a high-level view of the project whenever you want. /wp-content/uploads/2022/11/project-management-dashboard.webp Project managers can use resource management features to keep their teams productive. Availability can be set in advance to make scheduling simpler and our color-coded workload chart helps you see your team’s allocation. You can then balance their workload from the chart to keep them working at capacity. They’re not overallocated and stakeholders are happy to see productivity. Related Content If that’s not enough stakeholder management for you, our site is loaded with free content. There are weekly blogs, guides, videos, and, of course, more free project management templates for Excel and Word. Here are some resources to learn more about stakeholder management. Stakeholder Management Guide Stakeholder Analysis 101 What Is Stakeholder Theory Stakeholder vs. Shareholder: What’s the Difference? Stakeholder Mapping 101: A Quick Guide to Stakeholder Maps ProjectManager is award-winning project management software that empowers teams to work better together. Task management tools add to productive and risk management features to help you identify, track and mitigate risk. Join teams at Avis, Nestle and Siemens who are delivering success with our software. Get started with ProjectManager today for free. The post 13 Free Stakeholder Management Templates for Excel & Word appeared first on ProjectManager. View the full article

Project management has developed the means to increase the likelihood of successful completion. That starts by breaking a project down into project management phases. What are those project phases? We’ll define them in detail. This is a great opportunity for those new to project management, but also serves professional project managers and their teams who can never go over this critical information enough. What Are the 5 Project Management Phases? The five project management phases are a structured approach to planning, executing and completing a project. Based on the Project Management Institute (PMI) framework, these phases help project managers and teams stay organized, manage resources effectively, and achieve project goals. By following these five phases, project managers and their teams can structure and organize their project management approach. This is going to improve the chances of having a successful project outcome. We’ll get to defining the five project phases in a moment, but first, these project phases require project management software for a more efficient and effective planning, execution and tracking of the project. ProjectManager is award-winning project and portfolio management software with multiple project views that allow everyone on the project team to do their jobs collaboratively. Each project phase is represented by features, such as Gantt charts to schedule tasks, resources and costs, but also link dependencies to avoid cost overruns, filter for the critical path and set a baseline to track progress in real time. Teams execute their tasks on kanban boards or task lists, while stakeholders track work on the calendar view. Get started with ProjectManager today for free. /wp-content/uploads/2025/03/Gantt-CTA-2025-1600x868.jpgLearn more 1. Project Initiation Phase It all begins with the project initiation phase, the first stage of the project management lifecycle. This is where a project is formally authorized and its feasibility is evaluated. During this phase, project managers and stakeholders define the project’s purpose, objectives and high-level scope. This step sets the foundation for all future project activities and ensures there is a clear understanding of what needs to be achieved. The primary purpose of the initiation phase is to determine whether a project is viable and valuable for the organization. It helps stakeholders make informed decisions about whether to proceed with the project, based on factors such as expected benefits, risks, resource availability and alignment with business goals. Additionally, this phase ensures all stakeholders have a shared understanding of the project’s objectives and key requirements. Let’s explore the roles and responsibilities and documentation that come with this phase. Roles and Responsibilities of the Project Initiation Phase In the project initiation phase, clearly defined roles and responsibilities are essential to ensure the project starts on the right track. Each participant has a specific role in shaping the project’s vision, assessing its feasibility and securing approval to proceed. From project sponsors and managers to stakeholders and subject matter experts, effective collaboration during this phase establishes a strong foundation for success. Understanding who is responsible for what ensures alignment and accountability from the outset. Project Sponsor: The project sponsor defines project objectives, secures funding and ensures executive approval to initiate the project. They align the initiative with business goals, liaising between leadership and the project team and provide strategic direction. Their role includes approving the project charter, resolving high-level concerns and ensuring organizational support. Project Manager: The project manager leads the initiation phase by developing the project charter, identifying key stakeholders and assessing feasibility. They facilitate risk identification, coordinate early resource discussions and ensure stakeholder engagement. Their role is to define the project’s purpose, establish governance structures and secure approvals necessary for transitioning into detailed planning. Stakeholders: Stakeholders influence project initiation by providing input on business needs, feasibility and strategic fit. They help define success criteria, validate objectives and assess risks. Their involvement ensures organizational buy-in and that the project addresses key concerns. Early engagement helps refine the project scope before formal planning begins. Business Analyst: The business analyst assesses business needs, gathers high-level requirements, and ensures the project aligns with organizational objectives. They collaborate with stakeholders to evaluate feasibility and identify potential risks or constraints. Their role is to document initial requirements, define potential solutions and support the project team in clarifying business objectives. Project Team Members: During initiation, project team members contribute expertise to feasibility assessments, risk identification and initial scope definition. They provide technical, financial or operational insights that help shape the project’s viability. Their early input ensures a realistic approach and helps prepare for a smooth transition into planning. Project Management Office (PMO): The PMO ensures governance and alignment with organizational standards during project initiation. They provide templates, best practices and guidance on feasibility assessments, risk identification and stakeholder engagement. Their role is to support the project manager in structuring the initiation process and ensuring alignment with corporate objectives. Clients or End Users: Clients or end users provide insights into expectations, needs and potential project benefits. Their role in initiation includes participating in feasibility discussions and defining high-level functional requirements. Their early involvement ensures the project is designed with end-user value in mind before detailed planning begins. Documentation of the Project Initiation Phase Documentation in the project initiation phase serves as a formal record of the project’s purpose, scope and feasibility. It provides clarity and alignment among stakeholders while ensuring that important decisions and approvals are well-documented. Key documents created during this phase act as foundational references throughout the project lifecycle, guiding planning, execution, and monitoring efforts Project Charter: A high-level document that formally authorizes the project, outlining objectives, scope, stakeholders, risks and key constraints. Business Case: Justifies the project by detailing expected benefits, costs, risks and alignment with business goals. Feasibility Study: Assesses technical, financial and operational viability to determine whether the project should proceed. Stakeholder Register: Identifies key stakeholders, their roles, interests and influence on the project. Risk Register: Lists early identified risks, their potential impact and possible mitigation strategies. Project Proposal: A preliminary document used to seek approval and funding, summarizing the project’s purpose, goals and expected outcomes. Assumptions and Constraints Log: Documents any key assumptions and limitations that could affect the project’s success. 2. Project Planning Phase The project planning phase is the second phase of the project management lifecycle, where the project’s roadmap is developed. After receiving approval in the initiation phase, project managers and teams create detailed plans that outline how the project will be executed, monitored and completed. This phase involves setting goals, defining deliverables, allocating resources and creating schedules. The primary purpose of the planning phase is to establish a clear and actionable strategy to guide the project. It ensures all team members understand their roles, tasks are organized and risks are identified and mitigated. Comprehensive planning also helps prevent scope creep, manage budgets and ensure timely delivery. Roles and Responsibilities of the Project Planning Phase Again, roles and responsibilities play a crucial part in this project phase. Let’s take a look at them. Project Sponsor: The project sponsor approves the project plan, resolves escalated issues, and supports the project manager in securing necessary resources. Their role is crucial in maintaining executive buy-in and ensuring the project stays on track strategically. Project Manager: The project manager leads planning efforts by defining the project scope, project schedule, budgets and risk management strategies. He coordinates team efforts, ensures stakeholder alignment and oversees project documentation. Their responsibility includes integrating all project planning components to create a structured project management plan to guide the execution phase. Subject Matter Experts (SMEs): SMEs provide specialized knowledge in specific areas relevant to the project. They validate technical feasibility, advise on industry best practices and contribute expertise in areas such as engineering, compliance or IT. Their input helps refine the scope, mitigate risks and ensure project deliverables meet quality standards. Project Team Members: Project team members contribute to planning by estimating task efforts, identifying dependencies and providing input on scheduling and resource needs. They participate in risk assessment, document requirements and prepare for execution. Their collaboration ensures the project plan is realistic, executable and aligned with organizational capabilities. Project Management Office (PMO): The PMO provides governance, best practices and standardized methodologies for project planning. They ensure compliance with organizational policies, support risk assessment and assist in resource allocation. The PMO also helps in refining documentation and ensures project objectives align with overall strategic goals. Documentation of the Project Planning Phase Documentation plays a role in all project phases. It captures detailed plans and strategies that will guide the project’s execution. These documents also act as a reference for all stakeholders to align them on timelines, budgets, resources and objectives. Below is a list of those documents. Project Management Plan: A comprehensive document outlining how the project will be executed, monitored, and controlled, covering scope, schedule, cost, quality, risk and communication. Scope Statement: Clearly defines the project boundaries, deliverables, constraints and assumptions to prevent scope creep. Work Breakdown Structure (WBS): A hierarchical breakdown of the project’s deliverables into smaller, manageable components for better tracking and assignment. Project Schedule: A detailed timeline, often using Gantt charts, that maps out tasks, dependencies and deadlines to ensure timely execution. Resource Management Plan: Identifies the necessary personnel, materials and equipment required for project success, ensuring efficient allocation. Risk Management Plan: Documents identified risks, their potential impact, mitigation strategies, and contingency plans to proactively address uncertainties. Budget and Cost Management Plan: Outlines cost estimates, funding requirements and financial controls to ensure the project stays within budget. Communication Plan: Establishes guidelines for information flow, reporting frequency and stakeholder engagement to maintain alignment and transparency. Procurement Plan: Defines processes for acquiring external resources, including vendor selection, contract management and procurement timelines. Change Management Plan: Provides a structured approach for handling modifications to project scope, schedule, or budget, ensuring controlled adjustments. /wp-content/uploads/2025/02/PM-101-eBook-banner-ad.jpg 3. Project Execution Phase Now, we get to putting the plan into action, which is called the project execution phase. This project management phase is where teams carry out tasks, produce deliverables and ensure the project progresses according to the established timeline, budget and scope. Effective coordination and communication are essential to keep everything on track. The purpose of the project execution phase is to deliver the project’s outputs and meet the defined objectives. It involves managing people, resources and processes to ensure tasks are completed efficiently. This phase is also where project managers monitor progress, address issues and ensure quality standards are maintained. Successful execution results in tangible deliverables that fulfill the project’s goals and stakeholder expectations. Roles and Responsibilities of the Project Execution Phase As with all project phases, roles and responsibilities need to be defined. They are below. Project Manager: The project manager oversees daily operations, ensuring tasks are executed according to the plan. They manage team coordination, track progress, mitigate risks and communicate with stakeholders. They handle issues, ensure resource availability, maintain quality standards and make real-time adjustments to keep the project on schedule and within scope. Change Control Board: The change control board evaluates and approves or rejects proposed changes to the project scope, schedule, budget or resources. They ensure changes align with business objectives, assess risks and impacts and maintain project integrity. They review change requests, enforce decision-making protocols and prevent unnecessary scope creep. Stakeholders: Stakeholders provide feedback, monitor progress and ensure the project aligns with expectations. They review deliverables, address concerns and support necessary changes. Their role includes approving key decisions, ensuring business needs are met and engaging in regular status updates. Vendors and Contractors: Vendors and contractors provide specialized services, equipment or materials essential to project execution. They adhere to contractual agreements, deliver quality work on time and collaborate with the project team. Their responsibilities include meeting deadlines, ensuring compliance with requirements and addressing any logistical or technical issues that may arise. Project Team Members: Project team members execute assigned tasks, collaborate to meet project objectives and ensure deliverables meet quality standards. They report progress, address issues proactively and adhere to the project plan. Their role includes problem-solving, maintaining documentation and working closely with other team members to keep execution on track. Project Management Office (PMO): The PMO ensures adherence to project governance, methodologies and best practices during project execution. They provide oversight, monitor project performance and assist with risk management. Their role includes supporting the project manager with reporting, quality assurance and ensuring the project remains aligned with organizational objectives and compliance standards. Documentation of the Project Execution Phase These are the common documents that will be generated during this project phase. Status Reports: Regular updates on project progress, including completed tasks, issues encountered and upcoming milestones, ensuring stakeholder transparency. Work Performance Reports: Summarize key performance indicators (KPIs), such as budget usage, schedule adherence and quality metrics, to assess project health. Change Requests: Formal documentation of proposed modifications to scope, schedule or resources, requiring approval before implementation. Issue Log: Tracks project issues, assigned responsibilities, resolutions and follow-up actions to prevent delays and disruptions. Risk Register: Continuously updated to reflect new risks, mitigation actions and the status of existing risk responses. Meeting Minutes: Records discussions, decisions and action items from project meetings, ensuring accountability and follow-through. Deliverables and Work Acceptance Forms: Document the submission and approval of completed work packages, confirming compliance with quality standards. Quality Assurance Reports: Capture quality control activities, inspections and corrective actions taken to ensure project deliverables meet expectations. Communication Logs: Maintain records of key project communications, including emails, stakeholder updates and team discussions. Procurement Documentation: Includes purchase orders, vendor contracts and supplier performance reviews to track procurement activities. 4. Project Monitoring and Control Phase The project monitoring and control phase occurs concurrently with the execution phase, ensuring that the project stays on track and aligns with the established plan. During this phase, project managers track progress, measure performance and implement necessary adjustments to keep the project within scope, on schedule, and within budget. This is done to identify and address any deviations from the project plan. By continuously monitoring KPIs and assessing progress, project managers can mitigate risks, manage resources effectively and ensure quality standards are upheld. This proactive oversight helps maintain alignment with project goals and stakeholder expectations. Roles and Responsibilities of the Project Monitoring and Control Phase Here are the various roles and their responsibilities for this project phase. Project Sponsor: During project monitoring and control, the project sponsor ensures the project remains aligned with strategic objectives by reviewing performance reports and addressing escalated risks or budget concerns. They approve corrective actions, ensure continued stakeholder confidence and provide guidance when deviations from scope, schedule, or costs require high-level decision-making. Project Manager: The project manager actively tracks project performance, analyzes key metrics and ensures adherence to scope, schedule and budget. They identify variances, implement corrective actions and manage risk responses. Their role includes leading status meetings, ensuring compliance with quality standards and continuously optimizing workflows to keep the project on course. Stakeholders: Stakeholders review project reports, assess deliverable quality and provide feedback to ensure project objectives are met. They participate in risk assessments, approve necessary changes and ensure alignment with business needs. Their role includes monitoring progress against KPIs and supporting mitigation strategies for emerging issues. Project Team Members: Project team members report on task progress, identify roadblocks and implement corrective actions when needed. They contribute to performance assessments, track deviations in execution and ensure compliance with defined quality standards. Their role includes documenting issues, adhering to change controls and supporting continuous monitoring to maintain project efficiency. Quality Assurance Team: The quality assurance team ensures deliverables meet predefined standards through inspections, audits and testing. They monitor compliance with quality requirements, track defects and recommend corrective actions. Their role includes implementing process improvements, verifying adherence to quality control procedures and ensuring the project meets regulatory and customer expectations. Project Management Office (PMO): The PMO enforces governance, oversees project reporting and ensures adherence to methodologies. They provide monitoring tools, conduct project health checks and track KPIs. Their role includes supporting risk management, facilitating audits, ensuring documentation accuracy and assisting in implementing corrective and preventive actions to maintain project control. Documentation of the Project Monitoring and Control Phase The following documents are produced during this project phase. Performance Reports: Summarize key metrics such as cost, schedule adherence, scope completion and risk status to track project health. Variance Analysis Reports: Compare actual project performance against planned targets, identifying deviations in budget, schedule and scope. Risk Register (Final Updates): Continuously updated to reflect new risks, mitigation actions taken and final risk outcomes. Issue Log (Final Updates): Documents how all open issues were resolved and ensures no unresolved problems remain. Change Log: Maintains a record of all approved changes, including their impact on project scope, schedule and costs. Quality Control Reports: Track testing, inspections and corrective actions to ensure deliverables meet required standards. Stakeholder Feedback Reports: Collect input from stakeholders to assess satisfaction and identify areas for improvement. 5. Project Closure Phase When the project is delivered, it’s not finished until the project closure phase is done. This project management phase marks the formal completion of the project. It’s when all project activities are finalized, deliverables are handed over and necessary documentation is completed. Additionally, the team reviews the project’s outcomes to assess its success and identify lessons learned. This is done to ensure all project objectives have been met and that the project is concluded in an organized manner. It involves confirming that stakeholders are satisfied with the deliverables, releasing project resources and providing final reports. This phase also provides an opportunity to reflect on the project’s performance, documenting insights that can improve future projects. Roles and Responsibilities of the Project Closure Phase Even this last of the project phases has specific roles and responsibilities, which are as follows. Project Sponsor: During project closure, the project sponsor ensures final deliverables meet business objectives and formally approves project completion. They review performance evaluations, validate that all contractual obligations are met and oversee the transition of project outcomes into operations. Their role includes ensuring lessons learned are documented and closing financial commitments. Project Manager: The project manager leads the formal closure process by verifying deliverable acceptance, finalizing documentation and ensuring all objectives are met. They conduct post-project evaluations, oversee contract closure and facilitate lessons learned sessions. Their role includes archiving project records, releasing resources and ensuring all administrative and legal closure activities are completed. Stakeholders: Stakeholders review final project results, assess success criteria and provide feedback on project performance. They ensure deliverables align with expectations and support the transition of project outputs into operations. Their role includes participating in lessons learned discussions and signing off on project closure reports. Project Team Members: Project team members complete final deliverables, document outstanding issues and assist in knowledge transfer. They participate in project review meetings, provide feedback on processes and ensure all assigned work is finalized. Their role includes contributing to lessons learned, helping transition work to operational teams and closing any remaining tasks. Project Management Office (PMO): The PMO ensures the project is closed in compliance with organizational policies. They oversee final documentation, facilitate closure audits and store project records for future reference. Their role includes standardizing lessons learned, ensuring project performance data is captured and verifying that governance procedures were followed throughout the project lifecycle. Documentation of the Project Closure Phase As with all project phases, this final one also has many documents created to fully close out the project. Here is a list of them. Final Project Report: Summarizes overall project performance, achievements, challenges and lessons learned. Lessons Learned Document: Captures insights on successes and failures to improve future project management practices. Final Work Acceptance Forms: Confirm that all deliverables have been completed and accepted by stakeholders or clients. Contract Closure Documents: Ensure all vendor contracts are fulfilled, payments settled and legal agreements closed. Financial Closure Report: Provides a final review of budget performance, cost overruns and remaining funds. Project Archive: Stores all key documents, including plans, reports and approvals, for future reference and audits. Team Release and Acknowledgment: Officially releases project team members from responsibilities and recognizes their contributions. How to Use ProjectManager to Manage All Project Management Phases Managing the project management phases can be done without project management software, but it’s not recommended. Even trying to organize a small project is dangerous when using digital tools, such as spreadsheets. While better than keeping all the information in one’s head, there are better ways to plan, manage and track projects. Project management software is designed to deliver successful projects. Though not all of these products are equal. ProjectManager is award-winning project management software with multiple project views for all project stages, but also automated workflows, task approval settings, version control, global search, risk management and so much more. Manage Resources and Stay Productive Resource management touches all five project management phases. We’ve already shown how our Gantt chart can schedule human and nonhuman resources, but that’s just the start. When assigning human resources to tasks, project managers can set their availability, including PTO, vacation and global holidays, when onboarding. This streamlines the assignment process by having the right resource at the right time assigned to the right job. To view resource allocation across a project or multiple projects, use the color-coded workload chart. It makes it easy to see who’s overallocated or underutilized, and managers can balance their workload from the chart. Use the team page to get a weekly or daily view of their activities, which can be filtered by progress or priority. Tasks can also be updated without leaving the page. /wp-content/uploads/2023/01/Team-Light-2554x1372-1.png Track Progress and More With Real-Time Dashboards and Reports While all project management phases are important, the monitoring and controlling project phase deserves special attention. Our software understands that and gives users a high-level overview of project KPIs whenever they want it, without time-consuming setup. Our real-time project or portfolio dashboards automatically collect live data and display it on easy-to-read graphs and charts that show time, cost, workload and more. Customizable reports go deeper into status, variance, timesheets, workload and more, and they can be filtered to focus on specific data points or shared with stakeholders who want to see a more general summary of progress. Even our secure timesheets help by monitoring labor costs to help stay on budget. /wp-content/uploads/2022/07/Dashboard-light-mode.jpg Related Project Management Content There’s more to project management than project management phases. For those who want to continue their study of the subject, below are some recent blog posts we’ve published on tools, techniques, principles and more. Project Management Tools & Techniques for Project Managers Key Project Management Principles & How to Use Them Common Project Management Styles: Pros & Cons Best Project Management Certifications (2025) Project Management Process Groups: A Quick Guide Project Management Methodologies: An Overview ProjectManager is online project and portfolio management software that connects teams whether they’re in the office or out in the field. They can share files, comment at the task level and stay up to date with email and in-app notifications. Join teams at Avis, Nestle and Siemens, just some of the companies that use our software to deliver successful projects. Get started with ProjectManager today for free. The post The 5 Project Management Phases: A Quick Guide appeared first on ProjectManager. View the full article

You probably know zero exercise is not enough and that going for a walk every day is generally a good thing. And if you’re training for a marathon, you’ll be on your feet for a couple hours of hard workouts every week. But what is the benchmark for a human being just trying to squeeze enough healthy exercise into their life? Any amount of exercise is better than none, but 30 minutes of exercise (like brisk walking) five days a week will meet the guidelines. The official guidelines, though, are given in weekly minutes, and you get extra credit for vigorous exercise like running. Some watches and apps will track this for you, as in Fitbit's "active zone minutes" or Garmin's "intensity minutes." Below, I'll break down the different levels of guidelines, starting with 150 weekly minutes, and then we'll get into what counts as exercise. The basics: 150 minutes of cardio and two days of strength training every weekFortunately, all the major public health organizations are in agreement. The World Health Organization, the Centers for Disease Control and Prevention, and the American Heart Association are all on board with the following guidelines for aerobic exercise: At least 150 minutes per week of moderate intensity (cardio) exercise like walking or easy jogging, or 75 minutes per week of vigorous exercise like running, or a combination. (If you can easily meet that, more is better.) At least two days per week of muscle strengthening activity, like lifting weights or doing other strength training like pushups, resistance band exercises, or even heavy manual labor like shoveling. A previous edition of the guidelines said that you need to do your cardio for a minimum of 10 minutes at a time for it to count, but the current recommendation is to get it in however you can, even if that includes some shorter bursts here and there. If that's too easy, level up to 300 minutesIf you’re pretty athletic, the above won’t sound like much. Good news! The WHO has set a secondary goal for folks like you. It’s simple: just do double the above. So you can aim for 300 minutes of moderate cardio, or 150 minutes per week of vigorous activity. Here's what that might look like: An intense, hour-long martial arts class three times a week (60 x 3 = 180, but this is vigorous cardio, so the minutes count double) Go on a 45-minute after-dinner walk every day (45 x 7 = 315 minutes of moderate cardio) Commute by bike to work, 20 minutes each way (40 minutes per day x 5 days per week = 200 minutes moderate cardio) and play recreational league soccer for two matches per week (50 minutes each game, for some combination of moderate and vigorous cardio, definitely puts us over 300). What do "moderate" and "vigorous" exercise mean?Walking at a purposeful pace counts as "moderate" cardio, and jogging counts as "vigorous." I have a detailed breakdown here of what exercises count as moderate versus vigorous. The distinction is not based on heart rate or effort level, but rather on a scientific metric called METs that relates to how much energy and oxygen the exercise takes. Moderate exercise is anything that scores between 3 and 6 METs, and vigorous exercise is 6+ METs. That said, you can estimate by effort level. When you're doing moderate exercise, you'll be a little bit sweatier or breathing a little harder than when you're at rest, but you can do it continuously without feeling tired. It may not even feel like a workout. Here are some examples of moderate cardio: A brisk walk Commuting or doing errands by bike, on relatively flat ground Using a spin bike or other cardio machines like the elliptical, at a low intensity, steady pace Housework and light yard work, like washing windows or mowing the lawn with a power mower By contrast, vigorous exercise includes activities where you're working hard and breathing hard. You might still be able to keep up a conversation, but it's not likely to feel easy. Vigorous exercise also includes the really hard stuff where you might not be able to keep it up very long. This could include: Running fast Bicycling uphill Pushing yourself to finish a Crossfit WOD with a good time Swimming laps Playing a game of soccer or basketball Tougher housework and yard work, like chopping wood or using a push mower Can I combine moderate and vigorous cardio? You can mix and match these two intensities. The math is simple if you think about 150 minutes as your target and consider every minute of vigorous cardio counting double. Here are some examples: A 20 minute brisk walk every weekday morning (20 minutes x 5 days = 100 minutes moderate cardio) plus a 30-minute spin class that has you working pretty hard (30 minutes counted double is 60; add that to the 100 and you're at 160 minutes). An hour of hiking, three days a week (60 minutes x 3 sessions = 180 minutes moderate cardio) Three 30-minute jogs (30 minutes x 3 = 90 minutes moderate cardio) plus a workout with 10 minutes easy jogging for a warmup and then 20 minutes of hard running, followed by a cooldown of another 10 minutes easy. (20 minutes vigorous x 2 is equivalent to 40 minutes moderate cardio, plus we can add the warmup and cooldown for another 20 moderate minutes). That gives you 150 total. Go for a 30-minute easy bike ride on Monday. Try a 45-minute water aerobics class on Wednesday. Take a short hike on Saturday. Mow the lawn for an hour on Saturday. (30 + 45 + 30 + 60 = 165 moderate cardio) How much strength training do you need?So far we’ve been talking about aerobic exercise, which is the kind where you’re continuously moving (or, perhaps, doing quick work/rest intervals) and your heart rate is up. But there are other important forms of exercise, too. The WHO and other organizations recommend two days per week of “high intensity muscle strengthening activity,” which includes anything where you’re thinking in terms of sets and reps. (Three sets of eight to 10 reps is a good structure to start.) That activity can be anything that challenges your muscles, and where the last rep is a lot harder than the first. This could include lifting weights, or resistance band exercises, or bodyweight exercises like push-ups. So if you run three days per week and have time for more exercise, don’t just fit in extra runs; try adding two days in the weight room. The strength training recommendations are for two days per week, per muscle group. If you like to work your upper body and lower body separately, that would mean two upper body days and two lower body days. If you prefer workouts that work all your muscles on the same day, you only need to do two of those full-body workouts per week (at minimum). Can you get too much exercise?What about an upper limit on how much exercise you get? There isn’t one, from a public health point of view. More is better. (And even if you are doing less than the recommendations, anything is better than nothing.) That said, it is always possible for you, as an individual, to do more exercise than your body is ready for. Don’t jump from a life of occasional strolling to a marathon training plan. (And if you are on that marathon training plan and you’re feeling worn down, take a break already.) View the full article

Uber Advertising will integrate Instacart’s Carrot Ads solution to extend the reach of Uber Eats’ Sponsored Items to more Consumer Packaged Goods (CPG) advertisers in the U.S. market. By the numbers. Instacart’s advertiser network includes more than 7,000 brands. More than 220 retailer banners use Carrot Ads to power their retail media. How it works. Starting this month, CPG advertisers can create campaigns through Instacart Ads Manager that will automatically extend across both Instacart’s ecosystem and the Uber Eats marketplace, reaching millions of high-intent grocery shoppers. Why we care. CPG brands of all sizes now have a powerful new advertising channel that enhances product discovery for consumers on Uber Eats’ grocery and retail marketplace. This integration simplifies campaign execution while expanding reach and efficiency for advertisers seeking to connect with consumers at the critical moment of purchase decision. What they’re saying. “By enabling access to Uber Eats Sponsored Items in the US via Instacart’s Carrot Ads solution, we believe we can better meet the needs of more CPG brands – especially those making network buys,” said Travis Colvin, GM of Grocery & Retail at Uber Advertising. “Together, we’re offering advertisers expanded reach, seamless campaign management, trusted results, and a more efficient way to instantly connect customers with the products they love,” added Chris Rogers, Chief Business Officer at Instacart. Looking ahead. The partnership will help accelerate Uber Advertising’s growth in the U.S., with plans to introduce Shoppable Display formats through the Carrot Ads solution in the second half of 2025. View the full article

Lawyers for French football captain unveil raft of actions in escalation of dispute with former clubView the full article

Online advertising platform Marin Software announced plans today to dissolve the company, subject to shareholder approval. Marin’s board of directors approved a formal Plan of Dissolution and Liquidation. The San Francisco-based software provider, founded 19 years ago (in April 2006), was once a leading search and social marketing platform. Why we care. Marin was one of the first companies to offer a cross-channel ad management platform to help advertisers optimize campaigns. However, Marin struggled in recent years with declining revenue and customer churn. In Q3 2024, Marin reduced its headcount by 26% to cut costs. What’s next. If shareholders vote in favor of the plan at a special meeting later this quarter, Marin will: Wind down operations in an “orderly” fashion. Delist from Nasdaq. Resolve debts and liabilities. Attempt to sell any remaining assets. Distribute net proceeds to shareholders. Begin the formal shutdown process under Delaware law. What they’re saying. CEO and founder Christopher Lien thanked customers, partners, and staff in a press release: “On behalf of Marin Software, I want to thank our customers, partners, team members, and stockholders for their support over the years.” Zoom out. Founded in 2006, Marin was once a leader in the search marketing software category. The company reported revenue of $36 million in 2011 and $50 million in 2012. The company filed for its IPO and went public in 2013. Marin raised about $105 million and traded under the ticker MRIN. At its peak, Marin Software had a market cap of more than $500 million. Since 2016, the company posted consistent annual losses and declining revenues. By late 2024, Marin’s market cap fell below $10 million and its shares were trading under $1, putting it at risk of Nasdaq delisting. View the full article

Every folder on macOS looks the same—a boring blue representation of a paper file. That makes browsing a folder full of folders harder than it needs to be because everything looks identical. Unless, that is, you use custom icons for your most-used folders. You can do that pretty easily, but the feature is a little bit hidden. And yes, this means you can use something silly for your folder icon. But it can also be practical. Having an important folder a different color than the rest, or all of your folders different colors depending on functionality, makes it easier to find and click on what you're looking for. And the process isn't difficult. First things first: you need to find the image you want to use as an icon. I recommend going to macOSicons.com, which has thousands of icons sized just right. You can search for any color and find folder icons matching it. You can also search for random objects or applications and find icons. Find the images you want to use and click Download to get an .icns file which you can assign to any folder you like. Alternatively, you can just search the web for whatever image you want, right-click the image, and click Copy Image (note that you cannot click "Copy Image URL"—you need to copy the image itself). Next, right-click the folder you want to change the icon for and click Get Info to pull up a window with information about the file. You will see a folder icon in the top-left corner of that window (not the one in the window's toolbar). If you downloaded an .icns file, simply drag it to this icon in this panel—after a few moments the folder icon will be replaced. If you copied an image from your browser, simply click the icon in the panel—you'll see that it is highlighted. Now use the keyboard shortcut CMD-V and the folder icon will be replaced with the image you copied. Want to switch back to the default folder icon? Open the Get Info* panel, click the icon, then press the Delete key. The icon will go back to the default. It's worth noting that this isn't limited to folders. We've talked about changing Mac app icons before, and you can also edit how external hard drives look. This can make it easier to figure out which drive is plugged in at a glance, especially if you find an icon that resembles the drive itself. Easily make your own macOS icons Credit: Justin Pot Finding an icon online is perfectly fine, but it's pretty simple to design your own folder icons, too. You could copy the default icon, paste it into an image editor, and change it to look however you like. If you don't have those skills, though, or would prefer something faster, Fancy Folders is a free application that can do the work for you. This app lets you choose any color you want for your folder. It also lets you add an icon—this can be an image, if you want, or you can just type text. Choose which folder you want to browser, click Save folder icon, and the icon will change. Y View the full article

This post was written by Alison Green and published on Ask a Manager. A reader writes: I’m contemplating a job search and would love your advice on how to raise certain non-negotiable workplace factors — what I’d call “satisficers” — early in the process, without derailing conversations or coming off as naive or high-maintenance. For example, I travel extensively for work (sometimes over 100 hours in transit per week), and I’m simply not interested in a role that requires flying economy. Most companies in my field provide business class, but a handful don’t. Similarly, I find open-plan offices incredibly stressful and wouldn’t take a job that required one. These aren’t negotiable perks for me; they’re baseline filters. If a company doesn’t offer them, that’s totally fine, but I wouldn’t want to waste everyone’s time going through a protracted interview process only to find out at the offer stage. One challenge is that the HR person I’m speaking with early on may not fully grasp the realities of the role — especially the sheer amount of travel involved. I don’t want to come off as a prima donna right out of the gate. The conditions I work in can be as basic as tents or mud huts, so it’s not about luxury — it’s about sustainability when spending a huge chunk of my life in transit. The issue is, these things don’t always come up organically, especially since many interviews are remote now. If I bring them up early, I risk sounding either naive (“Of course we provide that”) or misaligned with company philosophy (“We believe everyone should fly economy”). What’s the best way to screen for these things early without making it seem like I’m leading with demands? It’s okay if you sound misaligned with company philosophy if it’s something you’d reject a job over; in that case, you are misaligned with their philosophy (or they’re misaligned with yours) and your whole goal is to find that out early. So don’t let that deter you. Finding out that you’re misaligned on something that’s a deal-breaker for you is the point. I also wouldn’t worry about sounding naive. You’re not saying “do you offer paychecks?” You’re asking about things that genuinely do vary from company to company. It’s also not about leading with demands. It’s about saying, “I don’t want to waste your time if we’re not the right match on a couple of points that are important to me.” You could word it this way: “Over the years I’ve learned there are a couple of things it’s useful to ask about early on so I don’t waste your time if it’s not the right match. I’ve found that most companies fly people in this role business class, because of the sheer number of hours per week spent traveling, but not all do. That’s key to keeping the work sustainable for me so I want to ask about it up-front.” … “I also wanted to ask about the office space — is it open offices, cubicles, private offices, something else?” You can ask this pretty early on — either in the phone screen or the first interview — since you’re explaining why you’re bringing it up now (i.e., these aren’t small details to you, but things your acceptance would hinge on). If you’re talking with an HR person, I might hold off on the business class question until you’re talking with the manager, given your concern about HR not fully understanding the amount of travel (whereas the manager definitely should, and the answer you get from them should be more reliable — although it’s also something to confirm again as you’re negotiating the offer, to make sure). View the full article

Key Takeaways Growth Projections: The restaurant industry is expected to reach $1.5 trillion in sales by 2025, showcasing strong post-pandemic recovery and sustainable growth. Economic Impact: Restaurants contribute significantly to local economies, generating over $899 billion in annual sales and providing approximately 15.6 million jobs in the U.S. Local Marketing Strategy: Emphasizing local marketing, including SEO and community engagement, is essential for attracting nearby customers and enhancing brand visibility. Sustainability and Customer Loyalty: Adopting sustainable practices and implementing customer loyalty programs can improve your restaurant’s brand image and encourage repeat business. Labor Challenges: Rising labor costs and shortages are significant challenges in the industry, necessitating effective recruitment strategies and community involvement to attract qualified staff. Technology and Dining Trends: Embracing technology in dining experiences, such as online ordering and off-premises dining, is crucial for meeting evolving consumer demands and enhancing customer convenience. The restaurant industry is a vibrant and ever-evolving sector that plays a crucial role in the economy. With millions of establishments worldwide, it’s a landscape filled with opportunities and challenges. Understanding the latest industry statistics can help you navigate this dynamic world, whether you’re a seasoned restaurateur or a food enthusiast looking to explore trends. Overview of the Restaurant Industry The restaurant industry plays a crucial role in the economy, comprising a wide array of establishments that cater to different tastes and preferences. Understanding the current landscape is essential for small business owners looking to thrive in this competitive space. Key Trends in the Restaurant Sector Emphasis on Local Marketing: Restaurants increasingly leverage local marketing strategies to attract nearby customers. Utilizing local SEO, you can optimize your online presence to appear in local search results. Online Engagement: Social media marketing through platforms like Facebook and Instagram enhances community engagement. Your restaurant can showcase dishes, share promotions, and interact with customers in real-time. Influencer Marketing: Partnering with local influencers provides exposure to wider audiences. Utilizing local influencer partnerships can boost brand awareness and drive customer visits. Sustainability Practices: Many restaurants are adopting sustainable practices. Highlighting green initiatives not only attracts eco-conscious diners but also improves your brand image. Customer Loyalty Programs: Implementing loyalty programs encourages repeat business. You can utilize local coupons and promotions to reward frequent visitors and enhance customer retention. Economic Impact of Restaurants The restaurant industry contributes significantly to the local economy. In the U.S., it generates over $899 billion in sales annually and employs approximately 15.6 million people. Job Creation: Restaurants provide employment opportunities across various roles, supporting local families. Community Engagement: By sponsoring local events and partnerships, your restaurant fosters community involvement and strengthens ties to the neighborhood. Investment in Local Areas: Restaurants stimulate local economies by purchasing from local suppliers and participating in local advertising. This investment supports the ecosystem of small businesses. Tax Contributions: Restaurants contribute to local and state tax revenue, funding essential community services and infrastructure. By understanding these trends and the economic impact, you can develop effective marketing strategies tailored to your target market while reinforcing your restaurant’s position within the community. Types of Restaurants Understanding the different types of restaurants helps you identify your target market and develop effective marketing strategies. Here’s a look at key categories within the restaurant industry. Quick Service Restaurants (QSR) Quick Service Restaurants, or QSRs, focus on serving fast, consistent meals with minimal service. These establishments often utilize counter service or drive-thru options. Popular examples include McDonald’s, Burger King, and Taco Bell. In the QSR segment, local marketing strategies play a vital role. Implementing techniques like location-based ads, Google My Business optimization, and local promotions can significantly enhance your visibility. Engaging with your community through local events and partnerships fosters a loyal customer base, while offering incentives like loyalty programs ensures customer retention. Full-Service Restaurants Full-Service Restaurants provide a comprehensive dining experience, featuring wait staff and a diverse menu. These establishments range from casual dining to fine dining, aiming to create a memorable experience for patrons. For full-service operators, cultivating an online presence through social media platforms like Instagram and Facebook is crucial. Utilizing tools such as Yelp for customer reviews and local listings improves your local SEO efforts. Additionally, grassroots marketing methods, including community involvement and sponsorship opportunities, help strengthen your connection with the local market. Effective email marketing campaigns and direct mail efforts can drive customer engagement, ensuring your restaurant thrives in a competitive sector. Understanding these categories allows you to tailor your marketing strategies effectively, ensuring you attract and retain patrons in the evolving restaurant landscape. Current Restaurant Industry Statistics Understanding the current statistics in the restaurant industry helps you navigate opportunities effectively. Familiarity with these trends enhances your marketing strategy and strengthens community engagement. Revenue Statistics The restaurant industry is poised to reach $1.5 trillion in sales by 2025. This figure highlights a substantial increase from the $997 billion projected for 2023, showcasing the industry’s robust recovery since the pandemic. Notably, the sector surpassed $1 trillion in sales for the first time in 2024, indicating a trend towards growth. Menu price increases, which hit nearly 9% in March 2023, have played a significant role in this revenue spike but have cooled to around 3.6% recently. Addressing menu pricing effectively may boost your profitability while attracting local customers through promotions and local search strategies. Employment and Job Creation By 2025, the restaurant industry is expected to add approximately 200,000 new jobs, bringing total employment to 15.9 million in the U.S. This positions restaurants as the second-largest private-sector employer, making effective recruitment crucial for your establishment. Implementing community involvement initiatives can enhance your reputation as an employer, leading to stronger word of mouth and attracting talent through local partnerships. Utilizing platforms like Google My Business helps ensure your job listings reach the right target market in your area. Additionally, engaging in grassroots marketing through local events and sponsorships can increase awareness of job opportunities within your restaurant, fostering community ties and customer loyalty. Challenges Facing the Restaurant Industry The restaurant industry faces significant challenges that can impact your operations. Key concerns include rising costs and labor shortages. Rising Costs and Inflation Rising costs significantly affect your bottom line. Food and drink inflation reached 12.2% as of September 2023, increasing menu expenses. In response, many restaurant operators raised menu prices by nearly 9% in March 2023, although this increase has settled around 3% since then. Adjusting local marketing strategies, such as offering local coupons or targeted promotions, can help mitigate the impact of these rising costs. You can enhance profitability even in a tight market through effective cost management and customer retention strategies, like loyalty programs that encourage repeat business. Labor Shortages Labor shortages pose a major hurdle for restaurant operators, with reports indicating a 10% monthly increase in labor costs since 2021. Finding and retaining qualified staff can strain operations and customer service. Adopting grassroots marketing tactics, such as community involvement or hosting local events, can bolster your employer brand, making your restaurant a more attractive option for potential employees. Additionally, leveraging local listings and online reviews can enhance your visibility, drawing in both customers and well-qualified candidates. Future Predictions for the Restaurant Industry The restaurant industry is on track for substantial growth, creating exciting opportunities for small businesses. Keeping an eye on key trends ensures you stay ahead in this dynamic landscape. Expected Growth Rates The restaurant sector is set to reach $1.5 trillion in sales by 2025, up from the $997 billion forecast for 2023. Sales growth exceeds 4% in 2025, reflecting the industry’s recovery post-pandemic. The sector is also expected to create around 200,000 new jobs, increasing total employment to 15.9 million, making it the second-largest private employer in the nation. You can leverage these growth rates through targeted local marketing strategies, such as local coupons, which can help attract more customers to your restaurant. Technology Influence on Dining Trends Technology is reshaping dining experiences. Off-premises dining, including delivery, curbside pickup, and drive-thru, has grown significantly. Small businesses can leverage technologies like online ordering systems and apps to enhance customer convenience. Building a robust online presence on platforms like Google My Business, Yelp, and social media marketing tools such as Facebook Ads and Instagram for business is vital. Engage with your audience through local events and influencer partnerships, fostering community involvement and brand awareness. Utilizing geotargeting and location-based ads can attract nearby customers effectively. Combining these strategies with loyalty programs can enhance customer retention, ensuring your restaurant remains a favorite in your community. By adapting to these trends, your small business can thrive amid the evolving demands of today’s consumers. Conclusion The restaurant industry stands at a pivotal point with immense growth potential and evolving challenges. By staying updated on key statistics and trends you can navigate this dynamic landscape effectively. Embracing local marketing strategies and leveraging technology will not only enhance your visibility but also foster customer loyalty. As you look ahead consider how the projected growth and job creation can impact your business. Adapting to rising costs and labor shortages through community engagement and innovative marketing will be crucial for success. With the right strategies in place your restaurant can thrive in an ever-changing environment. Frequently Asked Questions What is the impact of the restaurant industry on the economy? The restaurant industry significantly contributes over $899 billion in annual sales and employs approximately 15.6 million people in the U.S. It supports local economies through job creation, community engagement, and tax contributions, reinforcing its vital role within communities. What are some key trends in the restaurant sector? Current trends include the importance of local marketing strategies, active engagement on social media, influencer partnerships, and a focus on sustainability. Customer loyalty programs also play a crucial role in encouraging repeat business. How can restaurants effectively market themselves? Restaurants should implement local marketing techniques, strengthen their online presence, and engage with the community through grassroots efforts. Utilizing social media and developing loyalty programs can enhance visibility and customer retention. What challenges does the restaurant industry face? The industry faces rising costs and labor shortages. Food inflation has led to increased menu prices, while competition for labor has contributed to rising employment costs. Businesses are encouraged to adjust marketing strategies and engage local communities to address these challenges. How is the restaurant sector expected to grow in the future? The restaurant sector is projected to reach $1.5 trillion in sales by 2025 and add around 200,000 new jobs. Technology advancements, such as online ordering and delivery, are also anticipated to shape the future of dining experiences. What types of restaurants are there? Restaurants can be categorized into various types, including Quick Service Restaurants (QSRs), which focus on fast food with minimal service, and Full-Service Restaurants, which offer a more comprehensive dining experience. Understanding these categories helps in targeting specific markets effectively. How can restaurants build customer loyalty? Implementing customer loyalty programs and engaging with the local community through meaningful interactions can help foster loyalty. Personalized marketing strategies, promotions, and consistent quality service further encourage repeat visits from patrons. Image Via Envato This article, "Essential Restaurant Industry Statistics for Understanding Trends and Growth" was first published on Small Business Trends View the full article

Key Takeaways Growth Projections: The restaurant industry is expected to reach $1.5 trillion in sales by 2025, showcasing strong post-pandemic recovery and sustainable growth. Economic Impact: Restaurants contribute significantly to local economies, generating over $899 billion in annual sales and providing approximately 15.6 million jobs in the U.S. Local Marketing Strategy: Emphasizing local marketing, including SEO and community engagement, is essential for attracting nearby customers and enhancing brand visibility. Sustainability and Customer Loyalty: Adopting sustainable practices and implementing customer loyalty programs can improve your restaurant’s brand image and encourage repeat business. Labor Challenges: Rising labor costs and shortages are significant challenges in the industry, necessitating effective recruitment strategies and community involvement to attract qualified staff. Technology and Dining Trends: Embracing technology in dining experiences, such as online ordering and off-premises dining, is crucial for meeting evolving consumer demands and enhancing customer convenience. The restaurant industry is a vibrant and ever-evolving sector that plays a crucial role in the economy. With millions of establishments worldwide, it’s a landscape filled with opportunities and challenges. Understanding the latest industry statistics can help you navigate this dynamic world, whether you’re a seasoned restaurateur or a food enthusiast looking to explore trends. Overview of the Restaurant Industry The restaurant industry plays a crucial role in the economy, comprising a wide array of establishments that cater to different tastes and preferences. Understanding the current landscape is essential for small business owners looking to thrive in this competitive space. Key Trends in the Restaurant Sector Emphasis on Local Marketing: Restaurants increasingly leverage local marketing strategies to attract nearby customers. Utilizing local SEO, you can optimize your online presence to appear in local search results. Online Engagement: Social media marketing through platforms like Facebook and Instagram enhances community engagement. Your restaurant can showcase dishes, share promotions, and interact with customers in real-time. Influencer Marketing: Partnering with local influencers provides exposure to wider audiences. Utilizing local influencer partnerships can boost brand awareness and drive customer visits. Sustainability Practices: Many restaurants are adopting sustainable practices. Highlighting green initiatives not only attracts eco-conscious diners but also improves your brand image. Customer Loyalty Programs: Implementing loyalty programs encourages repeat business. You can utilize local coupons and promotions to reward frequent visitors and enhance customer retention. Economic Impact of Restaurants The restaurant industry contributes significantly to the local economy. In the U.S., it generates over $899 billion in sales annually and employs approximately 15.6 million people. Job Creation: Restaurants provide employment opportunities across various roles, supporting local families. Community Engagement: By sponsoring local events and partnerships, your restaurant fosters community involvement and strengthens ties to the neighborhood. Investment in Local Areas: Restaurants stimulate local economies by purchasing from local suppliers and participating in local advertising. This investment supports the ecosystem of small businesses. Tax Contributions: Restaurants contribute to local and state tax revenue, funding essential community services and infrastructure. By understanding these trends and the economic impact, you can develop effective marketing strategies tailored to your target market while reinforcing your restaurant’s position within the community. Types of Restaurants Understanding the different types of restaurants helps you identify your target market and develop effective marketing strategies. Here’s a look at key categories within the restaurant industry. Quick Service Restaurants (QSR) Quick Service Restaurants, or QSRs, focus on serving fast, consistent meals with minimal service. These establishments often utilize counter service or drive-thru options. Popular examples include McDonald’s, Burger King, and Taco Bell. In the QSR segment, local marketing strategies play a vital role. Implementing techniques like location-based ads, Google My Business optimization, and local promotions can significantly enhance your visibility. Engaging with your community through local events and partnerships fosters a loyal customer base, while offering incentives like loyalty programs ensures customer retention. Full-Service Restaurants Full-Service Restaurants provide a comprehensive dining experience, featuring wait staff and a diverse menu. These establishments range from casual dining to fine dining, aiming to create a memorable experience for patrons. For full-service operators, cultivating an online presence through social media platforms like Instagram and Facebook is crucial. Utilizing tools such as Yelp for customer reviews and local listings improves your local SEO efforts. Additionally, grassroots marketing methods, including community involvement and sponsorship opportunities, help strengthen your connection with the local market. Effective email marketing campaigns and direct mail efforts can drive customer engagement, ensuring your restaurant thrives in a competitive sector. Understanding these categories allows you to tailor your marketing strategies effectively, ensuring you attract and retain patrons in the evolving restaurant landscape. Current Restaurant Industry Statistics Understanding the current statistics in the restaurant industry helps you navigate opportunities effectively. Familiarity with these trends enhances your marketing strategy and strengthens community engagement. Revenue Statistics The restaurant industry is poised to reach $1.5 trillion in sales by 2025. This figure highlights a substantial increase from the $997 billion projected for 2023, showcasing the industry’s robust recovery since the pandemic. Notably, the sector surpassed $1 trillion in sales for the first time in 2024, indicating a trend towards growth. Menu price increases, which hit nearly 9% in March 2023, have played a significant role in this revenue spike but have cooled to around 3.6% recently. Addressing menu pricing effectively may boost your profitability while attracting local customers through promotions and local search strategies. Employment and Job Creation By 2025, the restaurant industry is expected to add approximately 200,000 new jobs, bringing total employment to 15.9 million in the U.S. This positions restaurants as the second-largest private-sector employer, making effective recruitment crucial for your establishment. Implementing community involvement initiatives can enhance your reputation as an employer, leading to stronger word of mouth and attracting talent through local partnerships. Utilizing platforms like Google My Business helps ensure your job listings reach the right target market in your area. Additionally, engaging in grassroots marketing through local events and sponsorships can increase awareness of job opportunities within your restaurant, fostering community ties and customer loyalty. Challenges Facing the Restaurant Industry The restaurant industry faces significant challenges that can impact your operations. Key concerns include rising costs and labor shortages. Rising Costs and Inflation Rising costs significantly affect your bottom line. Food and drink inflation reached 12.2% as of September 2023, increasing menu expenses. In response, many restaurant operators raised menu prices by nearly 9% in March 2023, although this increase has settled around 3% since then. Adjusting local marketing strategies, such as offering local coupons or targeted promotions, can help mitigate the impact of these rising costs. You can enhance profitability even in a tight market through effective cost management and customer retention strategies, like loyalty programs that encourage repeat business. Labor Shortages Labor shortages pose a major hurdle for restaurant operators, with reports indicating a 10% monthly increase in labor costs since 2021. Finding and retaining qualified staff can strain operations and customer service. Adopting grassroots marketing tactics, such as community involvement or hosting local events, can bolster your employer brand, making your restaurant a more attractive option for potential employees. Additionally, leveraging local listings and online reviews can enhance your visibility, drawing in both customers and well-qualified candidates. Future Predictions for the Restaurant Industry The restaurant industry is on track for substantial growth, creating exciting opportunities for small businesses. Keeping an eye on key trends ensures you stay ahead in this dynamic landscape. Expected Growth Rates The restaurant sector is set to reach $1.5 trillion in sales by 2025, up from the $997 billion forecast for 2023. Sales growth exceeds 4% in 2025, reflecting the industry’s recovery post-pandemic. The sector is also expected to create around 200,000 new jobs, increasing total employment to 15.9 million, making it the second-largest private employer in the nation. You can leverage these growth rates through targeted local marketing strategies, such as local coupons, which can help attract more customers to your restaurant. Technology Influence on Dining Trends Technology is reshaping dining experiences. Off-premises dining, including delivery, curbside pickup, and drive-thru, has grown significantly. Small businesses can leverage technologies like online ordering systems and apps to enhance customer convenience. Building a robust online presence on platforms like Google My Business, Yelp, and social media marketing tools such as Facebook Ads and Instagram for business is vital. Engage with your audience through local events and influencer partnerships, fostering community involvement and brand awareness. Utilizing geotargeting and location-based ads can attract nearby customers effectively. Combining these strategies with loyalty programs can enhance customer retention, ensuring your restaurant remains a favorite in your community. By adapting to these trends, your small business can thrive amid the evolving demands of today’s consumers. Conclusion The restaurant industry stands at a pivotal point with immense growth potential and evolving challenges. By staying updated on key statistics and trends you can navigate this dynamic landscape effectively. Embracing local marketing strategies and leveraging technology will not only enhance your visibility but also foster customer loyalty. As you look ahead consider how the projected growth and job creation can impact your business. Adapting to rising costs and labor shortages through community engagement and innovative marketing will be crucial for success. With the right strategies in place your restaurant can thrive in an ever-changing environment. Frequently Asked Questions What is the impact of the restaurant industry on the economy? The restaurant industry significantly contributes over $899 billion in annual sales and employs approximately 15.6 million people in the U.S. It supports local economies through job creation, community engagement, and tax contributions, reinforcing its vital role within communities. What are some key trends in the restaurant sector? Current trends include the importance of local marketing strategies, active engagement on social media, influencer partnerships, and a focus on sustainability. Customer loyalty programs also play a crucial role in encouraging repeat business. How can restaurants effectively market themselves? Restaurants should implement local marketing techniques, strengthen their online presence, and engage with the community through grassroots efforts. Utilizing social media and developing loyalty programs can enhance visibility and customer retention. What challenges does the restaurant industry face? The industry faces rising costs and labor shortages. Food inflation has led to increased menu prices, while competition for labor has contributed to rising employment costs. Businesses are encouraged to adjust marketing strategies and engage local communities to address these challenges. How is the restaurant sector expected to grow in the future? The restaurant sector is projected to reach $1.5 trillion in sales by 2025 and add around 200,000 new jobs. Technology advancements, such as online ordering and delivery, are also anticipated to shape the future of dining experiences. What types of restaurants are there? Restaurants can be categorized into various types, including Quick Service Restaurants (QSRs), which focus on fast food with minimal service, and Full-Service Restaurants, which offer a more comprehensive dining experience. Understanding these categories helps in targeting specific markets effectively. How can restaurants build customer loyalty? Implementing customer loyalty programs and engaging with the local community through meaningful interactions can help foster loyalty. Personalized marketing strategies, promotions, and consistent quality service further encourage repeat visits from patrons. Image Via Envato This article, "Essential Restaurant Industry Statistics for Understanding Trends and Growth" was first published on Small Business Trends View the full article

Regular guidance from executives on the near-term path of profit just got more elusiveView the full article

Deputy governor Sarah Breeden says it is too soon to untangle inflationary implications stemming from trade barriersView the full article

One of the biggest culprits is the CFPB's qualified mortgage rule and the ever-expanding debt-to-income ratios allowed under it, writes a co-director of the AEI Housing Center. View the full article

The next time you open WhatsApp, you might notice some changes. As announced in a blog post on Thursday, the app is rolling out a dozen new features, affecting the chats, calls, and even the Updates tab. Here's what's new: Chat updatesGroup chats are getting a number of updates this go-around. WhatsApp is adding an online indicator to group messages, so you can see who in the thread has WhatsApp open at any given moment. That change should help you gauge how many people are currently reading the chat. You'll see the new indicator directly below the group chat name. Similarly, WhatsApp is adding a new "Notify for" section in group chat settings to manage the notifications you receive from these threads. You can use the "Highlights" option to limit when the app pings you, including for "@mentions," replies, or messages from saved contacts. Of course, you can always choose to accept notifications for all messages in any group chat, as per usual. The app is now adding the option to create events in one-on-one chats. This feature was previously exclusive to group chats, which makes sense—you're more likely to want to plan an event with a group than a single contact—but in case you want to formerly plan a hangout, or send a custom invitation to someone who doesn't have the invite app you're using, this change could be helpful. There are two features specific to iPhones here as well: WhatsApp now has a built-in document scanner on iOS, in case you don't want to use the one in your Notes app. You'll find the option in the attachment tray, under "Scan document." WhatsApp says the feature will walk you through how to scan the doc, as well as how to crop and save it. Second, you can now set WhatsApp as your iPhone's default calling and messaging app, if you spend most of your time chatting on WhatsApp over iOS' Messages. The last change to chats affects reactions. Now, you can copy someone else's reaction to a message without having to dig through the selections yourself. Updates to callsYou'll notice three new features when placing calls. On iOS, you can pinch to zoom when on a video call. This works on both your video feed, as well as the feed of the person you're talking to. For example, your friend might be showing you something on their end, but you can't tell what it is from the video feed alone. You can then pinch to zoom on the display to get a closer look. Conversely, if you want to see something in your video feed you can't make out, you can give that a quick zoom as well. You can now add a friend to a one-on-one call by swiping over to their chat, tapping the call button, and choose "Add to call." It's a small change, but one I can imagine being convenient whenever you need to phone a friend into an ongoing call. Finally, WhatsApp says they've upgraded their video call tech, optimizing the routing system and boosting bandwidth detection. Calls should be higher quality, as well as freeze and drop less often—but we'll have to see if that's the case with real-world use. Changes to 'Updates'There are also three changes to the Updates tab: Channel admins can record and post videos to their followers directly from the app (though these videos need to be 60 seconds or less). You can also see a transcription of voice messages updates in channels, and channel admins can share QR codes to link to the channel. View the full article

Don’t let Canva’s rainbow gradients fool you. The Aussies are relentless, and their global conquest through easy-to-use design software continues as they set their sights on markets owned by Adobe and Microsoft. Even after a controversial price increase last year, growth is still explosive. Canva has added 50 million active users over the past 12 months, bringing its total to 230 million, with $3 billion in annual revenue. But despite this success, Canva decided it was time for a redesign. And it’s launching what the company considers its biggest overhaul since the app launched in 2012. It includes a Teams-crushing approach to file collaboration, a powerful AI-fueled spreadsheet reminiscent of Notion, and the ability to spin up about any project with an AI prompt—including code. The file-juggling redesignAt the core of the updates, Canva has reimagined the project interface of its entire Visual Suite. Whereas you used to pick what you wanted to do on a single track—like make a website or design a T-shirt—Canva has been using AI automation to blur the bounds between projects, turning a document into a slide deck, for some time. Now, the interface supports this behavior by default. Your canvas sits center screen, and just below it, Canva has added a bar that contains any and all permutations of what else your project can be. So you can be working on a document above, but have thumbnails with decks, social media posts, and other variations below. You just hit a little “plus” sign and determine what sort of template you’d like to add on next, and AI can take the first steps to translate what you already have to this new type of media. All of these media projects can be edited with your colleagues in real time. But conceptually speaking, this UI is also a real time file management system. Instead of digging through a Microsoft Teams directory to find your social media plan for the Q4 strategy doc, those items just sit side by side, editable and interdependent, on the front end. Print, digital, physical brand assets can all live in the same spot, and a brief, pitch, and budget can live side-by-side. As cofounder Melanie Perkins explains, the interface unifies, not just “creation and consumption” but also “context and communication.” “Something our enterprise clients were really excited about was the idea that you’d often have different specialties working in different places and in different tools,” she says. But now, “your team can literally get on the same page.” Canva SheetsNo doubt, Canva is developing a lot of these tools for marketers and social media managers. But while the company has made a lot of progress on unifying brand assets, it has only supported simple tables for data management. Canva Sheets is their full blown response to Excel, loaded with AI capabilities reminiscent of Notion. Everything can be programmed in plain language. You can type “list restaurants in Milwaukee and their addresses and use an emoji to signify the type of food they sell,” and propagate an organized spreadsheet with all of this information. You can also import data sets of your own (HubSpot, Statista, Snowflake, and Google Analytics at launch—with custom API integration coming down the line), then visualize them. Canva teases how its data visualization can parse insights on ad spend and ROI, even though it doesn’t formally integrate with ad platforms at this time. The other thing Sheets is used for is batch content creation, which is a big part of the appeal to AI for marketers. You can take all of your pieces of media on a spreadsheet, each housed in their own cell, and translate them to another language with a button press. But more than any of these examples, spreadsheets will let Canva dig into more complex computational and organizational tasks. “This is going to be a really foundational piece moving forward for our future ambitions,” says Perkins. Canva CodeThen on the most experimental arm of Canva’s updates, it’s introducing Canva Code. While most LLMs will attempt to produce code for you these days, Canva has already tightly integrated such capabilities into the rest of the Canva Suite. Starting from a prompt box on top of Canva’s site, you can already type in whatever you’d like to create, like, “poster for Malibu B&B” to automatically generate a first draft. But with Canva Code, you can now type in interactive features—like “build me a math quiz to practice multiplication with lots of dinosaurs” or “make me a map of flights from Chicago to Tokyo.” Canva will start coding these visions in a process that can take a minute or two. When attempting to make my map, I asked for a generic “flight tracker to Tokyo,” and the system generated a somewhat abstract ribbon for the map, with arcs flying into the city. (I could have been more specific.) Then below that, the Canva generated interactive tables listing flight times complete with sortable buttons. It listed if the airports were operational, and listed percentages of flights that were running on time. Assuming you like this, a big button labeled “use in a design” will take this code and put into your Canva projects. With a few more taps, you can publish it to the web. The integration is impressive. Without trying it myself, it’s hard to know the limits of the system’s actual coding ability. But Canva is trying to set expectations at a reasonable level with its own prompting in the UI—mortgage calculators, quizzes, and other simple concepts work well, I’m told. “It’s not going to build the entirety of the Canva application, for example, but we think it’ll get better and better over time as well,” says Perkins, in what she frames as a longer term strategy to the company. “It’s really bringing that interactivity, connectivity, and that dynamic content . . . Until today, [Canva] was ending at quite static content, and now all of a sudden, people can bring [in] very rich interactive experiences.” The updates demonstrate that Canva is still not slowing down on its trajectory, and it’s expanding its capabilities to ensure users can make just about anything within its interface. Or as Perkins puts it, “the company is picking off” the features it believes will offer “the biggest unlock for our community” year after year. The challenges now are just how well Canva can actually execute these features, and whether or not they can truly protect operational simplicity with so many disparate tools. View the full article

Olivia Walch is an investigator in the Department of Neurology at the University of Michigan and CEO of a tech start-up called Arcascope. Her research has been featured on CNN, NPR, and in The Atlantic, among other outlets. Beyond sleep research, she coedited Political Geometry, a book on the mathematics of gerrymandering, and published comics with The Nib and Silver Sprocket. She is also the cartoonist of Imogen Quest, a webcomic that won her the “America’s Next Great Cartoonist” prize from the Washington Post. What’s the big idea? If you are dancing and can’t catch the beat, you are not dancing well. In this way, if your sleep doesn’t follow a regular pattern that matches your biological beat, then you are not sleeping well. To find the beat your body is wired to cycle through and not just step along with it but groove with that beat, it’s important to develop an intuition about how your circadian rhythms work to shape overall health. Below, Olivia shares five key insights from her new book, Sleep Groove: Why Your Body’s Clock Is So Messed Up and What To Do About It. Listen to the audio version—read by Olivia herself—in the Next Big Idea App. 1. Sleep is like your heartbeat; rhythm is central to health. Even if both beat 60 times a minute, you wouldn’t say an arrhythmic heartbeat was as healthy as a regular one. Yet, we do this all the time when it comes to sleep. We think that as long as we get eight hours a night on average—even if one night you go to bed at 8 p.m. and the next you stay up until 2 a.m.—the rhythm doesn’t matter. Except it totally does. A recent study found sleep regularity (how much your sleep schedule on one day resembles your sleep on the next day) to be a better predictor of mortality than sleep duration. Every day, a new study comes out linking sleep irregularity to hypertension, diabetes, cardiovascular disease, you name it. Sleep regularity correlates with all these things because it correlates with circadian health. Specifically, when you have regular sleep, the signals you send to your body’s circadian clock are very rhythmic. When you give your clock rhythmic inputs, then it is more confident about when daytime is and when nighttime is, and it does a better job scheduling things that happen during the day, at night, and at all the times in between. One of those things is making you feel sleepy at bedtime, but other things include metabolism, DNA repair, and immune response. In general, you do better when your body does those things confidently at the right times versus muddling through them at all hours because of mixed signals. 2. Circadian rhythms are like being on a swing. The same input can give you wildly different outputs depending on when it’s delivered. When I say being on a swing, I mean a classic playground-style swing. In this analogy, that rhythm (swinging back and forth) is a stand-in for your circadian rhythms. The input, when you’re on a swing, is a push in the forward, outgoing direction. Biologically, that push in the outward direction can be anything that affects your clock’s sense of time. The biggest influence on your body’s sense of time is light exposure, but meal timing and exercise can also affect what time your body thinks it is. Let’s go with light exposure since it’s the primary signal your clock pays attention to. Getting light exposure when your body expects it, during the day, is like a push in the forward direction when you’re heading forward. It helps reinforce your rhythm; it helps you get to a higher amplitude swing. But that same forward push when you’re on the backswing actively messes up your rhythm. You don’t want someone to give you a forward shove when you’re swinging backward. Similarly, when you’re entering your biological night, you don’t want a burst of light exposure—you want to continue in the dark. Just like how a forward push is good at some times, that burst of light exposure is critical for health only when you get it during your biological day. “When you’re entering your biological night, you don’t want a burst of light exposure.” This is both a simple point—if I get light during the middle of the night, it will confuse my brain and throw off my rhythms—and a hard one to internalize. We’re not primed to understand how the same thing can go from good to bad to good again as time passes. We don’t think of anything being more rhythmic as making us healthier. I chose the title Sleep Groove because groove—along with “getting in the swing of things”—is a concept that explicitly ties rhythmicity to positive outcomes. I think our way of understanding health writ large will change once we begin to think of not just sleep but all aspects of health, in terms of how much they’re grooving. 3. Circadian rhythms are like walking. Circadian rhythms are robust, stretchy, able to entrain, and can be more or less in a groove. Let’s say I gave you a yellow shoe and a black shoe, and I told you to walk on a sidewalk with alternating yellow tiles and black tiles, with your yellow shoe hitting yellow tiles and black shoe hitting black tiles. If the tiles were well sized for your legs (not too long, not too short), you’d be able to adapt your stride to match this yellow-on-yellow, black-on-black pattern. This process of adapting your rhythms (your gait) to match the environment (the sidewalk) is something circadian scientists call entrainment. You’re able to stretch or shrink your walking pattern to match the size of the tiles, which is what I mean by stretchy. If I randomly put a puddle on the sidewalk that you had to step around, you could do that, throwing off your walking pattern temporarily, and then falling back into the pattern once you were around the puddle—which is what I mean by robust. Your body’s clock is the same. For circadian rhythms, it’s not the color of tile your body is adapting to but the light exposure you get. Your natural day length—how often your circadian rhythms would repeat if you were cut off from all signals, like light and food timing—is probably a little longer than 24 hours, but your circadian clock adapts to match the lighting patterns in your environment the same way you can adapt how long your stride is on a sidewalk. Or at least it tries to. Imagine I take that original sidewalk and change it so you’ve got a yellow tile, followed by a black tile, and then a shorter grayish tile that looks halfway between yellow and black. Step with the yellow foot on the yellow tile and the black foot on the black tile, I tell you, except now it’s kind of hard to do. You can still manage it, but you’re not taking strides of an even size with a consistent tempo. You’ve gone from walking in an easy, effortless groove to stepping. When we give our brains ambiguous day/night signals, our circadian clocks struggle to keep a rhythm going. It’s one of the reasons why Daylight Savings Time, which moves the light later in the day, is so disruptive to sleep and health. 4. Your sleep system is like a water cooler. “Listen,” you might be saying, “this is all very well and good, but my problem is that I wake up in the middle of the night and can’t fall back asleep. What do multi-day patterns of light and dark have to do with me waking up on Tuesday at 3:40 am?” You’ve probably been to a barbecue before, gone up to a water cooler to fill your glass, and noticed, as you’re pouring, that the level’s getting low. If it drops too low and falls below the level of the tap, your flow of water is going to stop. So, you tilt the water cooler toward you to keep the flow going and get a nice, long, uninterrupted pour. “Your circadian clock tilts your system in favor of sleep during your biological night, allowing you to sleep longer than you would without the tilt.” This is exactly what your circadian clock does during your biological night. Think of your sleep system as governed by two things: how “hungry” for sleep you are (how full your cooler is) and how much your circadian clock is promoting sleep (how tilted your water cooler is). Sleeping is when you drain the water cooler, and if your water level (sleep hunger) falls below the level of the tap, you wake up. Your circadian clock tilts your system in favor of sleep during your biological night, allowing you to sleep longer than you would without the tilt. It also tilts away from sleep at some times. If you’ve ever tried to scoot your bedtime up a few hours and been unable to do it, it could be because your circadian clock is tilting your sleep water cooler away from you, making it so that even though you’re pretty full of water (sleep hunger), the level is below the tap and you can’t fall asleep. If you wake up in the middle of the night and can’t fall asleep again, here are three reasons why that might happen: You might have gone to sleep earlier than your clock expected. The tilt is still coming; it’s just late. If you stay in the dark and wait for it to hit, you might be able to fall back asleep. You might have gone to sleep later than your clock expected. The tilt could have come and gone already. In this case, it could be tough to fall back asleep, even if you try to wait. Try going to bed earlier the next day. Maybe you tilted at the right time, but it wasn’t a big enough tilt. It was a shallow, barely-there tilt. That can happen to older people or those who have lower amplitude rhythms. The theoretical way to boost amplitude is to get really bright light during the day and the darkest dark at night, at the same time every day. If you think you might not have enough of a circadian tilt to your sleep at night, send your brain clear, unambiguous day/night signals for at least two weeks and see what happens to your sleep. 5. Circadian rhythms are like an audio recording slowed way, way down. We don’t understand how much of our health is rhythmic because the rhythms happen on a timescale too slow for us to really notice. But rhythms are fundamental to how our bodies work, even if we don’t always consciously register them. Let’s bring it back to the heartbeat analogy. If you were performing chest compressions on someone in cardiac arrest, you wouldn’t do one push, sit back, and decide you’ve done everything you could. We intuitively understand that rescuing a heartbeat means giving it a clear rhythm of inputs to lock onto. The same goes for your sleep. To rescue a grooveless sleep rhythm, there’s no one-time hack. You need to fundamentally change how you think about light, activity, and food to center rhythmicity. If you give your body enough time to find the beat, you’ll notice differences not only in how you sleep but also how you feel. To listen to the audio version read by author Olivia Walch, download the Next Big Idea App today: This article originally appeared in Next Big Idea Club magazine and is reprinted with permission. View the full article

Gulf state pushes for free trade agreement with blocView the full article

Freddie Mac reported a 2 basis point drop in mortgage rates, but other timelier measurements had the 30-year fixed close to or above the 7% mark. View the full article

If you haven't filed tax returns for several years, you're not alone: The IRS anticipates a $500 billion decrease in tax revenue this year. (That’s a more than 10% decline compared to last year.) More anecdotally, the IRS has also noted increased talk online from people saying they won’t pay taxes this year, and that they're willing to take the gamble that they won’t be audited. So, with just a few days left before the April 15 deadline, you might be wondering: What if I keep on ignoring my taxes? How long can this con go on? Unfortunately, that's a mighty risky gamble. You're better off filing as soon as you can, or else be on the line for costly penalties and interest. Here are the steps you need to address unfiled tax returns and get back on track with the IRS. What happens when you don't file your taxesFirst off, it's important to clarify the difference between failure to file and failure to pay. Failure to file refers to neglecting to submit tax returns by the filing deadline, while failure to pay occurs when taxes owed are not remitted by the due date. The most important piece of advice here: File even if you can't pay. Filing on time avoids the failure-to-file penalty, which is typically higher than the failure-to-pay penalty. The IRS imposes a late filing penalty of 5% of the unpaid taxes for each month the return is late, capped at 25% of the unpaid tax bill. Additionally, interest accrues on both unpaid taxes and penalties from the due date until the debt is settled. Plus, if you don't file, you of course won't get any refund. You must claim refunds within three years, so if you don't file, you risk losing out on the money you're owed altogether. Steps to take to file your old taxes ASAP The good news: The IRS generally prefers late filing to no filing at all and has programs to help taxpayers become compliant. Gather your documentsStart by collecting the basics, like your W-2s and 1099s from employers; bank and investment statements; receipts and records of deductible expenses; any prior tax returns you still have available. If you're missing documents—understandable, at this point—you can request wage transcripts from the IRS through a few different avenues: IRS.gov (Use the "Get Transcript" tool) Form 4506-T (Request for "Transcript of Tax Return") Contacting previous employers Determine which years you need to fileThe IRS generally focuses on the last six years of unfiled returns, though legally you should file for all unfiled years. Priority should be given to the most recent three years, so that you have a chance of getting your potential refunds. After that, focus on any years during which you had significant income. Prepare and file those returnsFile returns in chronological order, starting with the oldest. Unfortunately, one of the most common filing options, like IRS Free File, doesn't accept past tax years. Still, you have several filing options: Use commercial tax preparation software. Think big names like H&R Block, TurboTax, and FreeTaxUSA. Hire a tax professional. Certified Public Accountants (CPAs) or Enrolled Agents can help with complex returns. Here's how to make sure your preparer knows what they're doing. File by mail. Mail each year separately with appropriate documentation. Address your payment optionsIf you owe taxes but can't afford to pay the full sum, call the IRS and ask about the following options: Installment agreement: A monthly payment plan until you're paid up Offer in compromise: Settlement for less than full amount owed Currently Not Collectible status: Temporary hardship relief From here, the IRS may be able to guide you through some special programs available to you, such as: Administrative penalty relief: They may waive failure-to-file penalties for first-time offenders with a good compliance history. Voluntary disclosure programs: The IRS offers various programs to encourage taxpayers to come forward voluntarily as a means to resolve non-compliance and limit exposure to criminal prosecution. Streamlined filing compliance procedures: For taxpayers with foreign accounts who haven't filed required FBAR forms. Going forwardThe worst approach is continued inaction. The IRS has extensive information-gathering capabilities and eventually identifies non-filers. By taking proactive steps, you can minimize penalties, protect your financial future, and eliminate the stress of unfiled returns. If you find yourself with multiple years of unfiled returns, or maybe even need representation before the IRS, you really should consult with a qualified tax professional. Once you're back on track, you can avoid the headache that brought you to this article and start using a spreadsheet to track all your tax-related information throughout the year. I've created a basic template to get you started here. The purpose is to create a handy archive of all your tax records in one spot, making it much easier to file on time next year. Remember: Your current situation is fixable, and addressing it sooner rather than later will always be the smartest choice. View the full article

This post was written by Alison Green and published on Ask a Manager. Here’s a round-up of advice about how to deal with rude coworkers. how to deal with a coworker who’s rude to you dealing with a cranky, unpleasant coworker how to work with a jerk who raises his voice, when “that’s just how he is” new coworker is a rude know-it-all my coworker is rude and insubordinate my rude and intrusive coworker makes me feel horrible dealing with coworkers who are rude in meetings my intern is a rude jackass my coworker is a rude, inconsiderate bully — but am I being too sensitive? when a colleague is being rude to someone else what to say when your boss is rude to a coworker in front of you coworker is rude to my intern my coworker is rude to Uber drivers my boss is rude to waitstaff my boss is rude to my husband can I fix how my boss treats people? when you’re the manager my employee has a bad attitude I have to manage the office jerk my employee is combative and rude — how could I have prevented this? my employee is rude to colleagues — but some of them are rude to her too do I need to give my rude, difficult employee more positive feedback? my employee is being rude to others — but I think it’s from the stress of cancer when you might be the rude one am I the office jerk? what does it mean if your boss says you have a “bad attitude”? should I tell my boss I know I’ve been a jerk and I’m getting therapy? View the full article

Google Ads introduced customer lifecycle features in Performance Max, which will let you bid more aggressively for lapsed customers and track acquisition costs more precisely. PMax is also getting new image tools to boost creative flexibility. Customer Lifecycle management expands. Retention goals are now widely available, giving you the power to bid more strategically for lapsed users. For former customers: You can identify high-value former customers and prioritize who sees your ads and when. For new customer acquisition: In “new customer only” and “new customer value” modes, you will see a dedicated column in campaign reporting that displays customer acquisition cost. Enhanced image controls. Two new image features aim to improve ad creative variety: Landing page images: Automatically sources images from your landing pages to diversify your ad creative. Image enhancements: Smart cropping creates more image versions of existing images to access more ad inventory. Google plans to add more image enhancement options in the future, including uncropping and animation features. Why we care. These improvements address key advertiser concerns around control, reporting, and creative assets while maintaining the AI-powered efficiency that can make Performance Max valuable. The focus on customer lifecycle management aligns with increasing advertiser interest in maximizing customer lifetime value rather than just acquisition metrics. View the full article

Approximately 9% of current homeowners experience a labor market event that results in a negative credit shock, limiting access to their equity, Point said. View the full article

After a viral disappearance and rumors of his demise, Duo the owl is alive—and he’s finally ready to speak: “I said, ‘It’s either Spanish or vanish.’” Watch the full tell-all interview and hear from the bird behind the chaos. View the full article

Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI. You can sign up to receive this newsletter every week here. Blade Runner wasn’t so far-fetched after all In Blade Runner 2049, Ryan Gosling’s Officer K has a live-in girlfriend named Joi, played by Ana de Armas. The two interact like a real couple—they share familiar banter and seem to have a history together. But Joi is a hologram, projected from ceiling-mounted emitters in K’s apartment. She’s not human; she’s an advanced form of spatial computing—a future-facing concept we’re already seeing the early stages of today. The “AI girlfriend” (or boyfriend) is no longer just science fiction—it’s quickly becoming a cultural reality. The concept raises both social and technological questions. In the film, Officer K chooses Joi in part because he isn’t human himself. But here in 2025, as people are spending increasing amounts of time in online and virtual spaces, they’re more and more likely to choose digital companionship over human relationships. Generative AI is already remarkably good at simulating emotional intimacy. It can craft a persona that listens, supports, and never judges. These AI companions can learn your quirks, understand your personal challenges, and respond with surprising emotional intelligence. They remember shared moments, build a simulated history with their users, and interpret new interactions through the lens of that shared memory. Even though these relationships currently unfold through text windows on phones and laptops, the demand is clear. A 2024 MIT study found that the second-most common use of ChatGPT was sexual role-play. Meanwhile, Character.ai drew both popularity and controversy for offering AI companions willing to engage in almost any kind of conversation. We may not have home hologram systems yet, but we do have a more accessible—if still awkward—form of spatial computing: augmented reality (AR). And in the next few years, generative AI and spatial computing are likely to merge. One key driver of this shift is Apple’s Vision Pro headset. Until recently, AR hardware wasn’t immersive or comfortable enough to hold a user’s attention for long. Apple changed that. The Vision Pro is engaging, comfortable, and—for some—so compelling that users lose track of time while wearing it. The $3,500 price tag may seem steep, especially if you see it as just another screen for work or entertainment. But what if it could project your digital partner in vivid, life-size clarity—standing in your living room or sitting beside you on the couch? What if it could bring back the likeness of a loved one who passed away? Whether or not Apple delivers that future remains to be seen. The company is making a big push to integrate “Apple Intelligence” into its devices. Vision apps will almost certainly evolve to become more interactive and personalized with AI. So far, however, Apple has said little about bringing AI to VisionOS, its spatial computing platform. Of course, even immersive AR has its limits. In both Blade Runner 2049 and Her, characters attempt physical intimacy with AI through surrogate stand-ins. In Blade Runner, Joi overlays her holographic image onto the replicant Mariette. In Her, Samantha arranges for a woman named Isabella to act as a physical body while she provides the voice. In both stories, the experiences are unsettling. Still, companies are already working to bridge that physical-digital divide. Apple prohibits “adults only” content—including pornography—in its app stores, VisionOS included. However, its content ratings do allow for apps labeled 17+, which may include “frequent or intense sexual content or nudity.” So while Apple may not lead the charge into sexually immersive AI companionship, the space is wide open for others. As AR headsets get cheaper and more widespread, the real hook will be the software. MIT researchers Robert Mahari and Pat Pataranutaporn have warned that AI’s constant validation and charm could become addictive—encouraging people to abandon the unpredictability and imperfection of human relationships. “AI wields the collective charm of all human history and culture with infinite seductive mimicry,” Mahari and Pataranutaporn wrote in MIT Technology Review in 2024. “These systems are simultaneously superior and submissive, with a new form of allure that may make consent to these interactions illusory.” The line between intimacy and illusion is getting blurrier—and we’re stepping over it willingly. Google injects more AI into Google Docs At its Google Cloud Next event, Google announced several new artificial intelligence features for its Workspace suite of cloud computing, productivity, and collaboration tools. Powered by its Gemini models, Google Docs will now support audio capabilities, allowing users to create complete audio versions of documents or generate podcast-style summaries highlighting key points. The company is also adding a new AI writing assistant called “Help me refine” that will go beyond simple grammar and clarity checks to offer intelligent hints on everything from improving an argument to enhancing structure. A new integration of Google’s Veo 2 image generation model in Google Chat, enables teams to describe and embed videos within their documents to help convey messages more clearly. Further, enhanced AI functionality within Sheets automatically analyzes data and identifies stories told by the numbers. Google is also expanding Gemini’s agentic capabilities across Workspace at a time when businesses are looking to use reasoning agents to automate repetitive multistep tasks. Workspace now features “Gems“—Google-speak for AI agents—that can research, analyze, and generate content to handle specialized workflows. For example, a Gem might read over marketing materials and point out language inconsistencies. Ai2’s new model links its answers back to its training data I’ve fretted more than once in this newsletter over the fact that AI researchers can’t fully explain how large language models generate their outputs, and that the big AI labs are spending a lot more money enhancing those outputs than on explaining them. To its credit, Anthropic has done some strong explainability research, and now the Allen Institute for AI (Ai2) has turned that mode of inquiry into a product feature. The lab’s flagship model, OLMo 2 32B, can tie elements of its output to actual content from their training data. In a demo, Ai21 researcher Jiacheng Liu, showed me how the model now highlights and underlines factual claims in its outputs. Click on one, and a pane opens on the right side of the screen, showing the relevant excerpt from the source document (usually scraped from the public internet) that the model is referencing. The tool even labels the training data by how relevant it is to the generated response. With this feature, users can pinpoint exactly where the model learned certain information, verify factual claims, and even detect potential sources of hallucinations (i.e. when models generate things that sound right but aren’t true). Researchers and developers may be able to use the feature to understand how models behave during training and how and why they generate content in production. Enterprises may be very interested in fact-checking model outputs as the risk of model contamination grows. (Contamination can occur when AI models are inadvertently trained on false AI-generated content from the web or when bad actors poison training data to make models do destructive things.) Ai2 has been talking about open-sourcing models and model transparency for years (the lab was started in 2014 by Microsoft cofounder Paul Allen). Ai2 CEO Ali Farhadi tells me the tide may be turning for transparency in the industry. “We started from the time that the word on the street was ‘Oh, opening these things up is the worst thing you could do to humanity’ to the point now where these big enterprise companies are fighting with each other about who’s more open,” Farhadi said during an interview with Fast Company Monday. “So we see a big shift in the industry—obviously we’d like to take credit for part of that shift—that’s part of our story: the more people that open up, the better it would be for AI.” You can see the tool in action in this short demo video or try it for yourself on the Ai2 Playground. 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