The IIL Blog

OCTOBER 17, 2023

Benchmarking Identifying a project performance indicator or practice, then assessing it against industry standards or best practices. Bottom-up Estimating A project estimation technique that leverages tactical-level team members/subject matter experts (SMEs) to break down tasks into smaller components to create a more accurate estimate.

Development Team Review 148

Development Team Review Project Life Cycle Underperforming Technical Team Estimate 148

ProProfs Project Management

JUNE 30, 2021

Consider this scenario : You just closed a deal with a client to work on a major project. At the time of the project proposal, you had done a random forecast of project duration, price of resources, etc., and had reached a tentative project cost estimate. Is the ‘big-ticket project’ in chaos?

Underperforming Technical Team 52

Underperforming Technical Team Project Life Cycle Estimate Project Cost 52

ProjectManager.com

MARCH 1, 2024

In this blog, we’ll show you how to make a Gantt chart in Asana and we’ll do an in-depth analysis of its features, benefits and limitations. Real-Time Tracking Against Your Baseline ProjectManager lets users track project costs, resource costs, task costs and expenses in real time.

Software Review 326

Software Review Construction Monitoring Budget 326

ProjectManager.com

NOVEMBER 19, 2021

The business case includes the estimated costs and benefits of the project. There is also a feasibility study to see if the project makes sense to the organization and its stakeholders. That’s followed by a project charter, which answers the who, what and where of the project. Closing Phase.

Process 306

Process Monitoring Controlling Software Review 306

ProjectManager.com

SEPTEMBER 4, 2019

A project management information system (PMIS) is how information needed to run a project is organized. It collects and uses project information through one or more software applications. What these programs do is help project managers to plan, execute and close their project.

Software Review 213

Software Review Project Life Cycle Closing Budget 213

Project Risk Coach

MAY 21, 2018

Work Breakdown Structure – create a hierarchical decomposition or outline of the scope of work to achieve the project objectives and to create the deliverables. Cost Baseline – approved version of the project budget. Subsidiary Project Plans The Project Management Institute (PMI) highlights ten Knowledge Areas.

Underperforming Technical Team 220

Underperforming Technical Team Planning Project Life Cycle PMI 220

Teamweek

APRIL 19, 2024

Let’s look more closely at the four different types of project ROI that you can calculate. What are the different types of ROI in a project? Here are the four types of ROI in a project: Anticipated ROI Anticipated ROI is the expected ROI of a project before it begins.

Underperforming Technical Team 59

Underperforming Technical Team Estimate Risk Management Project Cost 59

nTask

MARCH 25, 2022

Well, this is where you ought to know the importance of project closure. Why should you close a project? Project Closure is pivotal for all types of projects (small or big). Learn from it: When you close the project effectively, you learn from the mistakes and avoid them in the future.

Software Review 88

Software Review Closing Estimate Risk Management 88

ProjectManager.com

JULY 5, 2018

For example, your project’s scope may involve creating 10 webpages. It can be defined by answering this question: “How closely does the outcome match the expectations?”. One of these tools is a Cause and Effect Analysis (also called a Fishbone Diagram), which allows you to quickly identify the roots of quality problems.

Technical Review 362

Technical Review Sustainability Software Review Risk Management 362

ProProfs Project Management

JANUARY 21, 2020

Any situation or event that can cause problems in project execution. . It refers to any prediction or estimation made on a project’s status, including how it will unfold in the future. Any discussion between teams to resolve difference on opinions or any other issues that negatively affect project execution.

Underperforming Technical Team 111

Underperforming Technical Team Estimate Risk Management Defining 111

The Strategic Project Manager

MARCH 13, 2023

Recommended Option – Analysis along multiple dimensions of the benefits and costs of each option, leading to one. A Business Problem can be defined by performing analysis of the context and specifics of the problem to be solved. Competitive analysis – Who are the competitors? Why does the problem exist?

Planning 95

Planning ChatGPT Technical Review Underperforming Technical Team 95

ProjectManager.com

AUGUST 1, 2023

It involves accurately estimating all the costs associated with the project. Using this free project budget Google template can help you better forecast project costs, which will help when you’re bidding for that work. Here, you can show whether the task is opened or closed.

Risk Management 280

Risk Management Budget Monitoring Risk 280

Velociteach

APRIL 11, 2023

A 5-Whys analysis can facilitate the purpose-discovery process by asking, “What problem are we trying to solve?” Project Description The high-level narrative describes the project’s outcome, key deliverables, and boundaries. At this point, the budget estimate may only be +50%/-30% of the final project costs.

Underperforming Technical Team 77

Underperforming Technical Team Risk Management Estimate Risk 77

International Institute for Learning

SEPTEMBER 8, 2022

Estimating and Applying Points with Agile – How to apply, and when is it done? As early as most of us can recall, we estimate the size/magnitude/amount of effort to do something in time. Adaptive development frameworks commonly use points for estimating size based on complexity, not duration or hours. Tony Johnson.

2022 89

2022 Underperforming Technical Team PMI Project Life Cycle 89

Techno-PM

SEPTEMBER 22, 2020

What Makes a Project Procurement Plan Effective The four processes of Project Procurement Management include planning, selection, administering, and closing. Having a procurement management plan gives an organization key insights into an essential aspect of project planning.

Planning 66

Planning Technical Review Closing Estimate 66

Epicflow Blog

DECEMBER 1, 2022

Having studied the business case, stakeholders will have more clear and realistic expectations of project outcomes. It can be used as a reference point to assess the project progress at all phases of a project lifecycle. A Project Management Plan: The Basis for Further Project Work.

Risk Management 52

Risk Management Risk Initiating Monitoring 52

Velociteach

FEBRUARY 19, 2024

We are taking a fresh look at project estimation. Topics include the estimation obstacles project managers commonly face, key factors essential for accurate projections, the impact of organizational culture, implementing cost management strategies, and navigating the risks of underestimating or overestimating project estimates.

Estimate 61

Estimate Technical Review Software Review Underperforming Technical Team 61

PM Basics

NOVEMBER 2, 2020

A Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives. The main flow of Project Risk Management includes the following processes: Risk Identification. Qualitative Risk Analysis. Optional) Quantitative Risk Analysis. Requirements Analysis.

Risk Management 105

Risk Management Risk Planning Technical Review 105

MPUG

JUNE 19, 2023

Resource Allocation If there are changes in the availability, capacity, or allocation of project resources, a change order may be required. This can include modifications to the workforce, equipment, materials, or subcontractors involved in the project. Add or remove team members and adjust their work hours or effort estimates.

Development Team Review 52

Development Team Review Software Review Risk Management Budget 52

Velociteach

SEPTEMBER 18, 2023

So when we look at green projects, it’s are you taking a total asset lifecycle focus? “Oh, We’re not being taught to think outside the box of initiate to close. So when we look at green projects, it’s are you taking a total asset lifecycle focus? now I’ve got to do a risk analysis. The Scope of this project was massive.

Sustainability 98

Sustainability Underperforming Technical Team Construction Certification 98

Project Pulse Journal

MARCH 7, 2024

Functions Associated with Projects A system for value delivery encompasses a range of knowledge areas associated with the project lifecycle, including initiating, planning, executing, and closing (PMBOK, 2017).

Governance 52

Governance Government Technical Review Sustainability 52

Herding Cats

APRIL 14, 2018

Software engineering economics is a topic that addresses the elements of software project costs estimation and analysis and project benefit-cost ratio analysis. As well, these costs and the benefits from expending those costs produce tangible and many times the intangible value.

Process 45

Process Estimate Software Developers Software Development 45

Velociteach

MARCH 4, 2024

We have sort of a fair idea about, you know, what’s the IT part going to cost, and how expensive this change part is going to be, and then also what benefits can we realize? And then the sponsor can say, yes, it’s still an excellent project. Or, no, it’s probably better that we spend some of our efforts on another project.

Consulting 59

Consulting Initiating Process Estimate 59

Proofhub

NOVEMBER 12, 2019

Tip : Consider reviewing the project progress and model at the end of each phase. Phase 5: Closing And here comes the last stage of the project management life cycle i.e. “project closure”. This is the phase where you finalize all activities and deadlines within the project and formally close the project.

Software Review 60

Software Review Technical Review Monitoring Risk Management 60

Project Pulse Journal

NOVEMBER 24, 2023

This is where Monte Carlo Simulation transforms the art of project risk management into a more precise science, as part of quantitative risk analysis. With a Monte Carlo analysis, you can assess project risks, determine the likelihood of occurrence, and turn the 'what-ifs' into tangible predictions.

Risk Management 52

Risk Management Risk Engineering Estimate 52

Techno-PM

AUGUST 9, 2021

Monitor and control: Alongside the execution phase, the project management team monitors and controls different aspects of a project- right from stakeholder requirements, costs, resources, status updates, project change documentation, schedule, variance analysis, etc.

Monitoring 69

Monitoring Risk Management Defining Executing 69

Wrike

JULY 6, 2023

You’ve reached out to the contractors — a team of two — and they estimate it will take the whole day to get everything set up. Cost is a factor with crashing : If you decide crashing is the best way to finish up your project, cost will be a key factor. With fast-tracking, cost isn’t necessarily taken into account.

Software Review 36

Software Review Risk Management Budget Estimate 36

Rebel’s Guide to PM

SEPTEMBER 3, 2021

There are two types of contingency typically used on projects: Budget contingency: Additional funding to deal with problems, realized risks relating to a specific event Schedule contingency: A buffer of extra time in case of schedule delays (not that you would ever pad your estimates?). Cost Baseline available through PMIstandards+ ).

Technical Review 295

Technical Review Software Review Estimate Risk Management 295

Herding Cats

MARCH 11, 2017

What happens if you shift focus from "accurate estimation" to "reliably shipping by a date"? . If your project has no uncertainty, there is no need to estimate. Turns out in the real world there is no such project. All estimates have precision and accuracy. Accuracy - how close is the estimate to the actual value?

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2003 2014 2015 2011 46

Wrike

JUNE 3, 2019

Project completion: Assuming everything in the building lives up to the customer’s expectations, the project completion phase is used to neatly finalize all details. It also provides an opportunity to review and learn from the process, get feedback from the client, and prepare any necessary close-out documents.

Construction 75

Construction Technical Review Software Review Sustainability 75

ProjectManager.com

JUNE 22, 2022

Let’s look at what a project account is as well as its principles and methods. What Is Project Accounting? Project accounting refers to all elements related to financial transactions in a project. This includes everything from project costs, billing and revenue.

Software Review 348

Software Review Finance Monitoring Project Cost 348

Online PM Courses

SEPTEMBER 3, 2018

Project Cost Management often puts people off. But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. Project cost over-runs are common. The governance considerations for project cost management.

Project Cost 74

Project Cost Prince2 Budget Governance 74

Rebel’s Guide to PM

APRIL 5, 2024

In this KA, you cover everything to do with defining the work required to deliver the scope, putting those tasks in the right order, estimating how long they will take to do and building the project schedule. Cost Management Cost management is basically managing funding for project activities.

PMI 201

PMI Risk Management Risk Technical Review 201

Workzone

MAY 24, 2019

The key to a more realistic schedule is to rely on analysis and data. If you’re using project management software, and you’ve completed similar projects in the past, you can easily use these as the basis for realistic estimates. The more data you have, the more confident you can be in your estimates.

Underperforming Technical Team 36

Underperforming Technical Team Software Review Estimate Risk Management 36

Herding Cats

MAY 10, 2019

Information about key project cost, (technical) performance, and schedule attributes is often uncertain or unknown until late in the program. requires making estimates) ? Project Risk Management: A Combined Analytic Hierarchy Process and Decision Tree Approach,” Prasanta Kumar Dey, Cost Engineering , Vol.

Risk Management 38

Risk Management Risk Technical Review 2002 38

Herding Cats

MAY 11, 2019

Let's start with a critical understanding of the purpose of managing risk on software development projects. Information about key project cost, (technical) performance and schedule attributes is often uncertain or unknown until late in the program. requires making estimates) ? Risk Analysis and Management,” Lester B.

Risk Management 35

Risk Management Risk Technical Review 2002 35

Teamweek

OCTOBER 26, 2023

Analogous estimating is a popular estimation technique used by project managers across industries. This technique looks at previous similar projects to create project estimates. What is analogous estimating? It’s a simple way to get a rough estimate based on past data. Let’s dive in.

Estimate 52

Estimate Budget Project Cost Closing 52