Mon.Sep 19, 2016

article thumbnail

What is the Management Reserve for Project Budgets?

Project Risk Coach

How to budget for the unknown unknown risks Have you ever had a budget crisis due to the lack of a management reserve? Unforeseen work comes knocking at your door. You look at your budget, but you don’t have the funds to handle this work. Image courtesy of Adobe Stock. There is a better way to handle the unexpected. You can — assuming that your organization supports the concept of reserves — create a management reserve when estimating the cost of your project.

Budget 251
article thumbnail

What’s difference between project management and change management?

Moira Alexander

Project management involves the use of people, processes and methodologies to plan, initiate, execute, monitor and close activities. It is designed to meet an organization's project goals, and hopefully overall strategic objectives. Change management, similar to project management, involves people, processes, and tools to effectively help organizations manage all the changes that occur, whether as a result of project initiatives, or other factors that might impact the business.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Solve the 5 Top Challenges of Manufacturing Projects

LiquidPlanner

When you work on a manufacturing project , you face some unique challenges, often with a lot at stake. You have to deliver your product at consistently high-quality standards, navigate end-to-end supply chains and manage strict time-to-market deadlines driven by demanding customers or seasonal demands. To top it all off, the entire project might be following a process where design, scope, cost and time scales were fixed at the very beginning of the project—or it could be a first-time project so

article thumbnail

Giveaway: Project Management for Supplier Organisations

Rebel’s Guide to PM

Do you work in a supplier organisation? Or as the recipient of a supplier’s services? This is the giveaway for you. Project Management for Supplier Organizations by Adrian Taggart is designed to help harmonise the project owner to supplier relationship. Covering everything from dealing with a clash of cultures to dealing with changes, and from selling to handling the endless customer requests for information, it’s a guidebook to making the supplier relationship work.

article thumbnail

Understand Digital Debt, Form a Team, Set Goals, and Plan Roadmap for Transformation

Understanding digital debt is crucial before digital transformation. Assemble a team to assess internal operations, market pressures, and digital debt's impact. Define future digital vision with measurable goals. Refine hypotheses and conduct market analysis. Develop a roadmap for transformation with defined projects, cost estimates, and governance.

article thumbnail

Timing is not everything

Musings on Project Management

"Just because something happens after something else happens doesn't mean it happens because something else happened Show me your data Show me your assumptions Tell me what questions you asked Tell me why you didn't ask other questions" From the TED Radio Hour, "Big Data". So, what we have here is the tyranny of the "Three Cs" * Coincidence, perhaps better written as co-incident to.