We need more detail but how do we get it?

Ron Rosenhead

produce realistic estimates of time and costs. project management allocating responsibilities courses in project management estimating project management training work breakdown structureI have observed many, many people when they start a work breakdown structure (WBS). The initial enthusiasm is tempered with the call from some; we need more detail. But, they soon come to a rapid halt unable to develop the WBS any further. As one person commented, “We seem to have hit the wall.”

2015 158

How good are you at starting off your project?

Ron Rosenhead

Scope is not clear and while initial capital costs are identified (often with over optimistic estimates) post project running costs are frequently ignored. I came across an interesting report published by the National Audit Office (NAO) – which exists to provide independent opinion and evidence to assist Parliament and hold government to account. I was surprised as I had not seen this report before.

2015 159
Insiders

Sign Up for our Newsletter

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

Three Point Estimate Formulas

PM by PM

Quick Reference on Three Point Estimate I have written a series of articles on Three Point Estimate and related concepts. I have explained the basic concept of Three Point Estimate in my first article. The post Three Point Estimate Formulas appeared first on PM-by-PM. Cost Management Project Management Time Management 3 point estimate formulas Project Estimation

2015 30

Software Estimating Resources

Herding Cats

This blog page is dedicated to the resources used to estimate software-intensive systems using traditional and agile development methods. The reason for this resource page is the lack of understanding of how to estimate, the urban myths about software estimating, and the fallacies that estimating is not needed, when developing software, in the presence of uncertainty, when spending other peoples money. 85, 2015. Estimating Probable System Cost,” Stephen A.

What does it take to up-skill our project managers?

Susanne Madsen

Projects often run into difficulties because of unclear scope and objectives, lack of business focus, poor estimation, inadequate risk management, and lack of engagement from key players, including the project sponsor and senior decision-makers. Traditional classroom training is a good way to train people in conventional project management disciplines such as planning, estimation and risk management, but less efficient when it comes to people skills and leadership.

2015 69

3 Best Practices For Your Creative Agency Estimates

Function Point

3 Best Practices For Your Creative Agency Estimates. Throwing in the extra effort at the estimating stage ensures that at the end of the project, all your agency’s time and expenses are paid for. We previously wrote about 3 common mistakes creative agencies make with their estimates. Now we’re going to let you in on some key best practices when it comes to estimates. While it’s important to send estimates out to your client in a timely manner, try not to rush.

2015 40

Estimates, Forecasts, Projections

Herding Cats

Estimates. An Estimate is a value inferred for a population of values based on data collected from a sample of data from that population. The estimate can also be produced parametrically or through a simulation (Monte Carlo is common, but Method of Moments is another we use). . Estimates can be about the past, present, or future. We can estimate the number of clams in the Pleistocene era that are in the shale formations near our house. Estimate to Complete.

Estimating is a Learned Skill

Herding Cats

Estimating is a learned skill, used for any purpose from every-day life to management of projects. When I left for the airport this morning to catch my flight to a customer site I estimated, given the conditions, how much time I need to get to my favorite parking spot at DIA. The same process for estimating is applied to multi-billion dollar projects we work. Here's some materials that provide the tools and processes needed to learn how to estimate. 1, 2015.

Complete Collection of Project Management Statistics 2015

Wrike

Estimated Project-Oriented Job Openings 2010-2020: . Inadequate cost estimates – 29%. Inaccurate task time estimate – 27%. Project Management Institute: Pulse of the Profession 2015: Capturing the Value of Project Management 2015. Capterra Project Management User Research Report 2015. The post Complete Collection of Project Management Statistics 2015 appeared first on Blog Wrike.

2015 49

3 Formulas for Forecasting Estimate to Complete

PM by PM

Project Forecasting using Estimate to Complete Formulas Consider this scenario. The post 3 Formulas for Forecasting Estimate to Complete appeared first on PM-by-PM. The Project Sponsor and the Project Manager are having a light conversation. And suddenly the Sponsor asks How much money is needed to complete the remaining project work? This is a normal question that worries the Project Sponsors. On the other hand, the PMs try […].

2015 29

What is Estimate to Complete in EVM?

PM by PM

Project Forecasting and Estimate to Complete Do you remember those instances when your manager comes and asks you – How much money do we need to complete the remaining project work? The post What is Estimate to Complete in EVM? Usually Project Managers dread these kind of questions. You think that there is no single answer for this particular question. You believe that there […]. appeared first on PM-by-PM.

2015 28

Basis of Estimating Software Development

Herding Cats

The estimating of software development is both straightforward and complex. When it is suggested that estimating is hard, of no value, and unnecessary, always ask what principle is used to support that claim? Here are some resources that will provide guidance to produce credible software development estimates, in both traditional and agile domains. Software Sizing and Estimating: Mk II FPA , Charles Symons, John Wiley & Sons, 1991.

Find Creative Project Management Software To Fit Your Agency

Function Point

Basic features include CRM, estimating, job and task tracking, schedules, time tracking, expenses, invoicing, financial reports and cloud accessibility. Here’s the thing: we’ve worked with a lot of creative agencies. That is what we do, after all. What this has given us, though, is experience with what works and what doesn’t when it comes to project management for creatives. We know what a good match looks like.

2015 40

Find Creative Project Management Software To Fit Your Agency

Function Point

Basic features include CRM, estimating, job and task tracking, schedules, time tracking, expenses, invoicing, financial reports and cloud accessibility. Here’s the thing: we’ve worked with a lot of creative agencies. That is what we do, after all. What this has given us, though, is experience with what works and what doesn’t when it comes to project management for creatives. We know what a good match looks like.

2015 40

fp. Project Management Software Boosts Top Draw’s Growth

Function Point

Starting up projects and estimating has also become faster, because Top Draw uses Function Point estimate templates to quickly begin new jobs. Online Project Management Software Case Study . COMPANY: Top Draw. INDUSTRY: Online Marketing & Digital Strategy Agency. SIZE: 27 Employees. Background On Top Draw. Founded in 1993, Top Draw is a fully integrated online marketing agency with an expert team of designers and strategists.

2015 40

fp. Project Management Software Boosts Top Draw’s Growth

Function Point

Starting up projects and estimating has also become faster, because Top Draw uses Function Point estimate templates to quickly begin new jobs. Online Project Management Software Case Study . COMPANY: Top Draw. INDUSTRY: Online Marketing & Digital Strategy Agency. SIZE: 27 Employees. Background On Top Draw. Founded in 1993, Top Draw is a fully integrated online marketing agency with an expert team of designers and strategists.

2015 40

Ways to Find the Right Person For the Right Job

Ganttic

An early and accurate estimation of your resources’ strengths and availability gives you time allowance to identify what is lacking and prepare for what is needed. To top it off, knowing what lies before your company is useful for estimating the growth and development in the near future. With observation, one can easily tell when a task has been assigned to the wrong resource.

2015 60

End Your Creative Agency’s Project Management Chaos

Function Point

Consistency is key when it comes to things like creating estimates, managing projects, assigning work and invoicing clients. End Your Creative Agency’s Project Management Chaos. Life at a busy creative agency can be hectic. There often comes a point when you realize that your current project management practices are no longer working for you, and you spend more time running around trying to fix problems than you do on growing your business.

2015 40

End Your Creative Agency’s Project Management Chaos

Function Point

Consistency is key when it comes to things like creating estimates, managing projects, assigning work and invoicing clients. End Your Creative Agency’s Project Management Chaos. Life at a busy creative agency can be hectic. There often comes a point when you realize that your current project management practices are no longer working for you, and you spend more time running around trying to fix problems than you do on growing your business.

2015 40

Project Managers: 5 Signs Your Project is Setup For Failure

Function Point

Your Team Didn’t Properly Estimate the Project. If I had to pin point one thing my team could improve on, it would be estimations. Estimations are always tricky because each person on the team breaks down a project differently or has a different idea of how they would complete the project. Third-party collaboration should also equal additional time to your estimation. This article was written by Kimberly Misutka, Project Manager at Top Draw.

2015 40

Project Managers: 5 Signs Your Project is Setup For Failure

Function Point

Your Team Didn’t Properly Estimate the Project. If I had to pin point one thing my team could improve on, it would be estimations. Estimations are always tricky because each person on the team breaks down a project differently or has a different idea of how they would complete the project. Third-party collaboration should also equal additional time to your estimation. This article was written by Kimberly Misutka, Project Manager at Top Draw.

2015 40

Let FP Project Management Software Do the Heavy Lifting

Function Point

In the system, you’re creating briefs and/ or estimates, and seeing values and descriptions carry forth to live work, invoices and a bundle of built-in reports. So you’ve wisely selected Function Point as your project management software tool. You’re super clued in as to how the system will let you manage your particular workflow, and handle everything surrounding potential work as well as landed jobs.

2015 40

Let FP Project Management Software Do the Heavy Lifting

Function Point

In the system, you’re creating briefs and/ or estimates, and seeing values and descriptions carry forth to live work, invoices and a bundle of built-in reports. So you’ve wisely selected Function Point as your project management software tool. You’re super clued in as to how the system will let you manage your particular workflow, and handle everything surrounding potential work as well as landed jobs.

2015 40

How Top Draw Uses FP to Avoid Productivity Pitfalls

Function Point

If a client delays a project, you can simply adjust the timeline and estimate for which resource it affects with the click of a button. We also review the ‘estimated’ versus ‘actual’ in the FP financial tab of the job details, and try to understand what caused actuals to go over what we had estimated. This article was written by Kimberly Misutka, Project Manager at Top Draw Inc. When you are a project manager in a digital agency, time is your currency.

2015 40

How Top Draw Uses FP to Avoid Productivity Pitfalls

Function Point

If a client delays a project, you can simply adjust the timeline and estimate for which resource it affects with the click of a button. We also review the ‘estimated’ versus ‘actual’ in the FP financial tab of the job details, and try to understand what caused actuals to go over what we had estimated. This article was written by Kimberly Misutka, Project Manager at Top Draw Inc. When you are a project manager in a digital agency, time is your currency.

2015 40

Top 5 Reasons for Project Failure and How to Avert Disaster

Wrike

Workers have to be paid for more time, so your estimated budget goes over. Now, when I create projects I estimate 3-5 situations that could delay the project and how to deal with those situations and allot time for whichever would take the longest time to recover. As a vendor of project management and collaboration software, we talk to a lot of project managers.

2015 46

Is Your Agency Ready For a Project Management Software?

Function Point

Using a project management software with estimating, time tracking and financial reporting systems all together in a neat package helps take the guesswork and assumptions out of client and project profitability. If you don’t track time, there’s also no way for your agency to improve business processes and estimations around how long it takes to complete certain repeated projects.

2015 40

Is Your Agency Ready For a Project Management Software?

Function Point

Using a project management software with estimating, time tracking and financial reporting systems all together in a neat package helps take the guesswork and assumptions out of client and project profitability. If you don’t track time, there’s also no way for your agency to improve business processes and estimations around how long it takes to complete certain repeated projects.

2015 40

Collecting Critical Data Begins at Project Intake

Function Point

Some departments choose to input “Estimated End Date” at Project Intake and then at close-out have a new field entitled “Actual End Date”—this allows the department to learn how often and by how much end dates are moved and in what direction (“I need it sooner” or “I need four more revisions” which may back up the project). This is a guest post contributed by Cella Consulting, the leading expert in in-house creative agency management and operations.

2015 40

Collecting Critical Data Begins at Project Intake

Function Point

Some departments choose to input “Estimated End Date” at Project Intake and then at close-out have a new field entitled “Actual End Date”—this allows the department to learn how often and by how much end dates are moved and in what direction (“I need it sooner” or “I need four more revisions” which may back up the project). This is a guest post contributed by Cella Consulting, the leading expert in in-house creative agency management and operations.

2015 40

fp. Answers: Common Project Management Software Questions

Function Point

How can I customize what prints on the estimate or invoice? It happens every once in a while: you stumble into a problem with your creative project management software – don’t fret! There’s a strong possibility that someone else has already experienced, survived and resolved the same issue. They’ve probably come out of the situation a smarter, better looking person too. Hey, it’s what we do.

2015 40

fp. Answers: Common Project Management Software Questions

Function Point

How can I customize what prints on the estimate or invoice? It happens every once in a while: you stumble into a problem with your creative project management software – don’t fret! There’s a strong possibility that someone else has already experienced, survived and resolved the same issue. They’ve probably come out of the situation a smarter, better looking person too. Hey, it’s what we do.

2015 40

The Smart Way to Buy Creative Project Management Software

Function Point

Some focus on estimating and invoicing, others focus more on tasking and scheduling, while others are simpler and have a basic time tracking solution. The Smart Way to Buy Creative Project Management Software. As you first start looking into creative project management software, there are a few things you should be aware of. Most notably, you need to understand that while there are many different solutions out there, they all specialize in different aspects.

2015 40

The Smart Way to Buy Creative Project Management Software

Function Point

Some focus on estimating and invoicing, others focus more on tasking and scheduling, while others are simpler and have a basic time tracking solution. The Smart Way to Buy Creative Project Management Software. As you first start looking into creative project management software, there are a few things you should be aware of. Most notably, you need to understand that while there are many different solutions out there, they all specialize in different aspects.

2015 40

3 Tools For Impressive Creative Briefs & Profitable Projects

Function Point

Lastly, consider a portal tool where clients can submit their creative briefs, upload assets, submit work requests, approve estimates and more. “Sometimes the questions are complicated and the answers are simple.”. – Dr. Seuss. A good creative brief is the foundation of any successful project. No matter how complicated or simple the project, having a solid brief ensures you get started on the right track.

2015 40

3 Tools For Impressive Creative Briefs & Profitable Projects

Function Point

Lastly, consider a portal tool where clients can submit their creative briefs, upload assets, submit work requests, approve estimates and more. “Sometimes the questions are complicated and the answers are simple.”. – Dr. Seuss. A good creative brief is the foundation of any successful project. No matter how complicated or simple the project, having a solid brief ensures you get started on the right track.

2015 40

7 Keys to Project Stakeholder Management from the #PMChat Community

Wrike

Give reasonable time estimates, so they know exactly what they are getting themselves into. Two Wrikers helped host a #PMChat discussion on Twitter last Friday, where a community of project managers comes together once a week to discuss and share knowledge on various topics related to project management. Our team asked everyone to share advice on best practices and common roadblocks in a challenging project management area: stakeholder management.

2015 44

Function Point Project Management Software Vs. Workfront

Function Point

Tracking your budget according to “Estimate Vs. Actual” is one of the most important metrics in understanding the health of your projects and your agency. When it comes to choosing your cloud-based project management software, it is important to look at a variety of factors. While many of our customers originally compared Function Point to other solutions, they ultimately decided to implement our market leading project management software based on these main reasons: 1.

2015 40

Function Point Project Management Software Vs. Workfront

Function Point

Tracking your budget according to “Estimate Vs. Actual” is one of the most important metrics in understanding the health of your projects and your agency. When it comes to choosing your cloud-based project management software, it is important to look at a variety of factors. While many of our customers originally compared Function Point to other solutions, they ultimately decided to implement our market leading project management software based on these main reasons: 1.

2015 40

Top 2 Mistakes Creative Agencies Make With Their Rates

Function Point

Accurate time-tracking reports from a project managing software will reveal whether final invoices have matched estimates in the past, and demonstrate where you need to adjust your staff’s hours or fees. Deciding on your agency’s rates and billing structure will be one of the most critical factors to long-term profitability. To do this, you’ll need to calculate your agency’s billing factor, agency blended billing rate, and staff cost rates to understand the true value of your work.

2015 40