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How to Keep Your Projects Financially Fit

Project Risk Coach

Keep Your Projects Financially Fit. How do projects fall below budget?” Let’s look for ways to monitor and control our cost more intentionally. 4 Ways to Control Cost and Keep Your Projects Financially Fit. Make Your Cost Visible. The project manager and the project team need to be able to SEE their cost performance on an ongoing basis.

Does remote project management really work?

Moira Alexander

Does remote project management work? Will remote project management work for your organization if you have a top-notch virtual project teams? There are advantages to establishing virtual project teams for remote project management. Some may include the following: Lower project costs due to technology advancements that bridge distance. Improved work/life balance for project team members. The answer, in general, is yes, it can. Not necessarily. Increased efficiency and decreased travel time. increased ability to attract top talent.

2015 34

Planning before Scheduling

Herding Cats

For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it? Without some form of decomposition of what “done” looks like, it is difficult to connect the work of the project to the outcomes of the project. Build a Risk Adjusted Project Plan in 6 Steps. Sir John Harvey Jones. And of course . .

Efficient project governance should not be an oxymoron!

Kiron Bondale

is controlled by the people who run it “ This is certainly an appropriate meaning of the phrase when applied to corporate governance, but is not the most empowering vision for how projects need to be governed. After all, when was the last time you heard a project manager or executive sponsor demand “We need more governance over our project!”? ”?

When Outsourcing Makes Sense

LeadingAnswers

Disclaimer : This article is based on my personal experience of software project development work over a 25 year period running a mixture of local projects, outsourced projects and hybrid models. Coding vs Collaboration Costs. This is the collaboration effort part of a project. Sticking with just development costs for now, let’s examine a scenario.

9 Ways PMOs Can Help Agile Projects

LeadingAnswers

It may not always be apparent but the goals of the Project Management Office (PMO) and agile teams are well aligned. Both groups want to get to the same destination: namely successful projects and happy stakeholders. An agile project team might want to build some proof-of-concept models to test feasibility and get confirmation of understanding. preparation of schedulers).

2013 113

Who Approves Your Project Change Requests?

Project Risk Coach

Some organizations lack clarity about who approves the project change requests. On one project, the sponsor tells the project manager to make the decisions. On other projects, the sponsor makes the decisions. Your project may morph into a two-headed monster without an integrated change control process, resulting in adverse impacts to schedule, cost, and scope.

How to Develop a Strong Governance Process with These 6 Tips ?

Project-Management.pm

Projects involved a lot of planning , implementation , and not to mention tracking or detecting issues and problems within the team or the project, and surpassing the following process. It also means successfully identified the stakeholders and risks and the project are already in the plan, ready for implementation. Building up a governance process may be a little intimidating, especially if you don’t organize your project outline properly. Everything can go wrong if you do a sloppy or lazy approach from the beginning of the project.

10 Myths about Project Management Tools

Binfire

You are promoted to manage your first project, congratulations! Since you are a serious manager you have decided to improve the team’s productivity by purchasing one of the project management tools available in the market. you are on the right track to becoming a great project manager. In the case of Excel, it is neither a Project Management or Collaboration tool.

2017 28

New PM Articles for the Week of September 19 – 25

Practicing IT Project Manager

New project management articles published on the web during the week of September 19 – 25. Harry Hall tutors us on the management reserve for project budgets. Shuba Kathikeyan summarizes the steps in project cost management, and recommends several good practices for project managers. Brian Livingston describes good, bad, and ugly results of project closeout.

Lean 20

Estimates, Forecasts, Projections

Herding Cats

We can estimate the total cost, total duration, and the probability that all the Features will be delivered on the program we are working for the US Government. Or ANY software project for that matter. The estimated completion cost for this program is $357,000,000 with an accuracy of $200,000 and a precision of $300,000. Another way to speak about the estimated cost is This program will cost $357,000,000 or less with 80% confidence. Not so typical to Forecast the cost of a project or forecast the delivery date. Projections/Prediction.

The Real Story Behind Why Your Organization Wants You to Track Time

LiquidPlanner

Time tracking data surfaces project cost, project profitability, employee availability, employee cost, and so much more. Whether you’re a project team member wondering “why on earth…?” For projects, time tracking is important because it: Surfaces key operational metrics that might otherwise remain hidden. Fosters autonomy. Let your employees in.

12 Project Management Related Tools to Check Out for 2017

Brad Egeland

As everyone is aware, the landscape of available project management and PM-related tools has changed greatly over the years. It is truly mind-boggling how many options are out there now for project managers across all industries. It is nearly impossible to cover all available options or to have one go-to list when you're looking for a solution to a project management tool need.

2017 34

Londoners, dig deep in your pockets for yet another troubled project

Ron Rosenhead

Today, the Mayor of London Sadiq Khan ordered an enquiry into the escalating costs of the former Olympic stadium site. However the escalating costs have raised more than a few eye brows. In 2015, former mayor Boris Johnson said the change from an Olympics arena to a football stadium would cost £272m, a figure which has now risen to £323m. want to be associated with. Do you?

The Problems with Schedules

Herding Cats

The Core Problem with Project Success. Unrealistic Cost and Schedule estimates based on inadequate risk adjusted growth models. Before diving into the details of these, let me address another issue that has come up around project success and estimates. All that line says is this was the baseline estimate at Completion for the project work. The term Ideal is a misnomer.

2003 28

Business Acumen for Project Managers [Free Checklist]

Girl's Guide to PM

It’s also something mentioned in the standards for professional project management bodies. Apparently, business acumen is something that project managers should have. I believe that my success at working with senior stakeholders and on difficult projects is to do with business acumen. Investment decisions shape what projects the company does. So what’s it all about?

12 Project Management Related Tools to Consider for 2016?

Brad Egeland

I've been a project manager for a long time. I started out using ABT's Project Workbench. I never professionally used the Windows version of it, only an old DOS version, but I did end up teaching class of about 20 CAD designers on the Windows version without ever having put it to use on a project. All projects are different. Simply, Wrike is a workspace for teams.

2016 23

Effective Leadership Skills. Are You Truly A Great Project Leader?

Fix my Project Chaos

Lately on the blog I’ve been exploring the ten skills that employers want from project managers. Effective leadership is one of the key skill that employers expect from project managers. While managing the project (costs, risks, issues, scope etc.) Are You Truly A Great Project Leader? appeared first on Fix My Project Chaos. For […].

Estimating is a Learned Skill

Herding Cats

Estimating is a learned skill, used for any purpose from every-day life to management of projects. The same process for estimating is applied to multi-billion dollar projects we work. And the same process is applied to the Scrum development processes on those projects. . And when you hear estimates are a waste you'll realize that person must work in a de minimis project, where those paying have no need to know how much it will cost, when the project will be done, and what Capabilities they'll get for that time and money before the time and money runs outs.

Business Acumen for Project Managers [Free Checklist]

Girl's Guide to PM

It’s also something mentioned in the standards for professional project management bodies. Apparently, business acumen is something that project managers should have. I believe that my success at working with senior stakeholders and on difficult projects is to do with business acumen. Investment decisions shape what projects the company does. So what’s it all about?

Construction Project Management Processes: Everything You Need to Know

Geniebelt

Project management is the basis on which every construction project is founded. A construction project manager has to obtain a variety of skills and competences in order to navigate through the project and to establish a functional connection with the numerous teams. What does Construction Project Management (CPM) mean? The Role of a Construction Project Manager.

A Wrap Up of the #NoEstimating Conjecture Analysis to Date

Herding Cats

So when you hear about all the posts about #NoEstimates, take a look here to see if those posts provide any actionable outcomes that can be put to the test on actual projects - other than Slicing. . Can We Make a Decision Without Knowing the Cost? - There is an immutable set of questions that need answers before we can determine the probability of success for our project.

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

All project work has uncertainty. Uncertainty comes from the lack of precision and accuracy about the possible values of a measurement of a project attribute. If your project has no uncertainty, there is no need to estimate. Turns out in the real world there is no such project. Our knowledge of this world - the planned and actual behaviors of the project. 22–26.

What did the Project Managers ever do for us?

The Lazy Project Manager

I sometimes hear of project management and project managers being challenged in much the same way … ‘what has project management done for us (the organisation)?’ Or perhaps it I less a matter of thinking and more a matter of memory loss, forgetting what project based business life was like before project management was in place and making a real difference.

When Outsourcing Makes Sense

LeadingAnswers

Disclaimer : This article is based on my personal experience of software project development work over a 25 year period running a mixture of local projects, outsourced projects and hybrid models. Coding vs Collaboration Costs. This is the collaboration effort part of a project. Sticking with just development costs for now, let’s examine a scenario.

Why Your Business NEEDS Integrated Construction Software

Geniebelt

Once the contract for the project is won, paper really starts to build up all over the place: -Head Office. All that struggle comes with a great cost, as you can imagine. In short, here are the main consequences of the endless paperwork in construction: -Awfully high costs an for handling and storing the documents. Lacking information about the progress of the project.

9 Ways PMOs Can Help Agile Projects

LeadingAnswers

It may not always be apparent but the goals of the Project Management Office (PMO) and agile teams are well aligned. Both groups want to get to the same destination: namely successful projects and happy stakeholders. An agile project team might want to build some proof-of-concept models to test feasibility and get confirmation of understanding. preparation of schedulers).

New PM Articles for the Week of January 16 – 22

Practicing IT Project Manager

New project management articles published on the web during the week of January 16 – 22. And this week’s video: Harry Hall shares a few ideas to improve our project cost management approach. Atif Qureshi curated responses to a request for predictions: what will be the top project management trends in 2017? Less than four minutes, safe for work. Must read! Agile Methods.