Analysis, Project Cost and Risk Management

SWOT analysis in project management: definition, instruction & example

Inloox

APRIL 16, 2024

Content What is a SWOT analysis? SWOT analysis in the project management context Why should I conduct a SWOT analysis? How to perform a SWOT analysis Once the SWOT analysis is completed: 5 key approaches for strategy development Concrete example: SWOT analysis in a software development project Conclusion 1.

Artificial Inteligence

Artificial Inteligence Underperforming Technical Team Technical Review Development Team Review

Types of Risks In Project Management – Are All Risks Equal?

WorkOtter

MAY 18, 2023

Risks are common in business. These risks carry uncertainties which pose potential threats to the financial health of the organization. Projects help the business reach objectives and goals, and with each project comes its own set of risks. It’s an unknown and unaccounted-for variable that leads to project failure.

Risk Management

Risk Management Risk Underperforming Technical Team Software Review

10 Do’s & Don’ts of Project Cost Management

nTask

MARCH 2, 2022

Unexpected costs, events, and miscalculations can take your project down the hill in no time. This is where project cost management jumps in. Cost management helps you to mitigate the risk of any surprise costs and budget constraints. What is Project Cost Management?

Project Cost

Project Cost Underperforming Technical Team Estimate Budget

7 Tips on Reducing Project Costs

Epicflow Blog

AUGUST 31, 2021

Reduction of project costs and at least avoiding significant cost overrun is one of the high priority tasks for a project manager. However, it usually becomes challenging due to a great number of factors: underestimation of project costs, uncontrolled changes, poor resource allocation, etc.

Project Cost

Project Cost Underperforming Technical Team Software Review Budget

8 Tips on Reducing Project Costs

Epicflow Blog

AUGUST 31, 2021

Reduction of project costs and at least avoiding significant cost overrun is one of the high priority tasks for a project manager. However, it usually becomes challenging due to a great number of factors: underestimation of project costs, uncontrolled changes, poor resource allocation, etc.

Project Cost

Project Cost Underperforming Technical Team Software Review Budget

Your Guide to Cost Benefit Analysis in Project Management

nTask

MAY 5, 2021

Project management involves making a lot of decisions and these decisions cannot always be easy. This is especially true when those decisions could potentially be critical to the success of your project overall. Enter cost benefit analysis. Here is your guide to an efficient cost benefit analysis. .

Risk Management

Risk Management Estimate Risk Finance

Risk Management Process Explained (+resources, templates)

PM Basics

SEPTEMBER 8, 2022

I’ve been managing software development projects for more than 11 years. Risk management is arguably the most crucial piece in my project management approach. Therefore, I spent lots of time and effort creating a practical risk management process. Short Glossary of Project Risk Management.

Risk Management

Risk Management Risk Process Underperforming Technical Team

Best Cost Control Techniques

ProjectManager.com

OCTOBER 5, 2023

Whether you’re managing a project in construction or manufacturing, keeping costs down is paramount. The lower your costs, the higher your profits. This is why in project management and business in general cost control is so important. What Is Cost Control? It’s as simple as that.

Controlling

Controlling Manufacturing Construction Underperforming Technical Team

Top 10 Project Management Qualifications

ProjectManager.com

AUGUST 22, 2023

What qualifications do you need to land a project management job? What Are Project Management Qualifications? Being qualified for a position as a project manager means you have the skills, experience and temperament for the job. Qualified project managers need the right tools for the job.

Certification

Certification Leadership Risk Management Budget

Project Financial Management: Managing Project Financials

ProjectManager.com

NOVEMBER 21, 2023

Whether you call it project financial management or project accounting, managing a project’s finances is essential to delivering a successful project. It’s more than just keeping up with costs. There’s a lot of planning, managing and tracking involved. What Is Project Financial Management?

Finance

Finance Estimate Budget Risk Management

Capital Budgeting: Definitions, Steps & Techniques

ProjectManager.com

NOVEMBER 23, 2023

The use of capital budgeting offers an objective view that helps managers figure out how to invest capital in order to increase business value but also helps the overall health of the company. Capital budgeting is part of the larger financial management of a business, focusing on cash flow implications when making an investment decision.

Budget

Budget Technical Review Software Review Executing

Risk Management Plan Example (Comprehensive Guide+Tempalte)

PM Basics

NOVEMBER 2, 2020

In this article, you’ll find the real-life project risk management plan example. It comes from my practical experience working on software development projects. Below the example, you’ll find all the required information and resources to create your Risk Management Plan quickly and for free.

Risk Management

Risk Management Risk Planning Technical Review

How to Measure Project Profitability

ProjectManager.com

SEPTEMBER 21, 2022

As projects are all about the bottom line, you can imagine the importance of project profitability in project management. Being able to determine beforehand whether a project will turn a profit is how organizations can decide which projects to initiate and which ones to skip. Project Profitability Analysis.

Initiating

Initiating Project Cost Estimate Software

What Is a Cost Breakdown Structure (CBS) In Project Management?

ProjectManager.com

JUNE 7, 2023

There are many factors that must be considered, and project managers use a cost breakdown structure to help them determine the cost of that product. Using a cost breakdown is essential to developing a sound cost breakdown analysis and selling that product or delivering the project at a profit.

Manufacturing

Manufacturing Estimate Project Cost Influencer

10 Essential Excel Report Templates

ProjectManager.com

SEPTEMBER 2, 2022

Then there are your stakeholders whose expectations must be managed. Project reports are tools that project managers use to extract valuable project data. Using Excel Report Templates for Project Management. Excel Report Templates for Project Management. Project Dashboard Template.

Risk Management

Risk Management Risk Software Budget

Project Performance Reporting: Key Performance Reports

ProjectManager.com

OCTOBER 18, 2023

Keeping tabs on the performance of your project is an essential part of project management. Tracking project performance gives project managers the data they need to keep the actual effort of the project aligned with the planned effort and deliver the project on time and within its budget.

Performance Measurement

Performance Measurement Risk Management Budget Monitoring

Notion Gantt Chart: Key Features, Pros and Cons

ProjectManager.com

MARCH 28, 2024

Notion is work management software that helps teams from across industries such as product development, engineering or marketing to facilitate team communication, manage tasks and create simple project timelines. While Notion has project management features, is there a Notion Gantt chart?

Software Review

Software Review Estimate Monitoring Project Cost

Cost Estimation for Projects: How to Estimate Accurately

ProjectManager.com

AUGUST 21, 2019

Many costs can appear over the life cycle of a project, and an accurate estimation method can be the difference between a successful plan and a failed one. Projects bring risks, and risks bring unexpected costs. Develop Point Estimate: Develop a cost model by estimating each WBS element.

Estimate

Estimate Technical Review Project Cost Governance

Tableau Gantt Chart: A How-to Guide With Pros, Cons & Alternatives

ProjectManager.com

MARCH 6, 2024

Tableau is an analytics platform that allows organizations to visualize their data on powerful yet user-friendly data analysis charts and diagrams powered by machine learning, natural language processing and predictive analytics. While Tableau doesn’t have project management features, you can still use it to make a Gantt chart.

Software Review

Software Review Construction Artificial Inteligence Software

15 Free PMO Templates for Excel and Word

ProjectManager.com

FEBRUARY 21, 2023

A PMO, or project management office, can be an internal department or an external group or agency that defines and maintains the standards for a company’s project management. However, all three can use PMO templates to support project programs and portfolios.

PMO

PMO Software Review Risk Management Risk

The 10 Project Management Knowledge Areas (PMBOK)

ProjectManager.com

NOVEMBER 27, 2019

What do you need to know to succeed at project management? While there’s some truth to that joke, it’s not helpful to the student or the experienced professional who is looking for a way to understand the myriad responsibilities of being a project manager. What is PMBOK in Project Management? Everything!

Monitoring

Monitoring Risk Management Controlling Technical Review

What Is a Cost Baseline in Project Management? A Quick Guide

ProjectManager.com

SEPTEMBER 2, 2021

It’s with this cost baseline that you can make cost estimates for each task of your project and see if you’re on target or overspending. Let’s take a moment to fully understand this cost management basic concept and how you can use it to keep your project on track. How to Create a Cost Baseline.

Estimate

Estimate Software Review Budget Project Cost

How to Do a Cost Benefits Analysis in Project Management

ProProfs Project Management

JUNE 30, 2021

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. Based on the same calculation, you go ahead and divide resources and set the project deadline. Is the ‘big-ticket project’ in chaos?

Underperforming Technical Team

Underperforming Technical Team Project Life Cycle Estimate Project Cost

Construction Cost Management: Managing Construction Costs

ProjectManager.com

JULY 5, 2023

That’s why construction cost management is so important. Knowing exactly what construction cost management means and what a construction cost is can be the difference between project success or failure. What Is Construction Cost Management? Get started with ProjectManager today for free.

Construction

Construction Estimate Monitoring Budget

Project Cost Estimation: Overview of the Process, Main Challenges, and Recommendations

Epicflow Blog

JULY 5, 2022

Estimation of project cost is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. At the same time, the forecasted cost should not be too overestimated or underestimated. What helps make cost estimation simple and efficient?

Project Cost

Project Cost Estimate Process Budget

Let Me Show You How to Determine Project Budget Reserves

Project Risk Coach

MAY 28, 2019

After publishing my article entitled Evaluating Risks Using Qualitative Risk Analysis , I received questions on how to determine project budget reserves. Project Budget Reserves: Questions and Answers. Question #1 After evaluating risks qualitatively, do you set aside some dollars for a contingency reserve ?

Budget

Budget Estimate Risk Management Project Cost

125 Project Management Buzzwords

The IIL Blog

OCTOBER 17, 2023

So, picture this: you are transitioning from your current position into a project management career. The industry didn’t matter; it was about translating my work experience into specific project management industry-recognized terms and managing projects.

Development Team Review

Development Team Review Project Life Cycle Underperforming Technical Team Estimate

10 Must-Have Project Management Templates for Google Sheets

ProjectManager.com

AUGUST 1, 2023

There are many ways to manage a project. While project management software is the gold standard, there are many free project management templates for Google that you can download to plan, manage and track your projects. They cover all phases of the project through its life cycle.

Risk Management

Risk Management Budget Monitoring Risk

Organizational Process Assets: Definitions, Examples & Templates

ProjectManager.com

NOVEMBER 28, 2023

There are many things that are needed when managing a project. These organizational process assets are critical to a project’s success and its operations. An organizational process asset is a tangible resource that’s used to guide the management of an organization’s projects and operations.

Process

Process Executing Controlling Defining

Securing contingency reserves is the responsible thing to do!

Kiron Bondale

SEPTEMBER 20, 2020

If you have ever taken a course in project management, you may have learned the differences between contingency and management reserves. The former are used to protect project cost or schedule objectives from the impacts of identified, realized risks whereas the latter are used to address the impacts of unidentified risks.

Risk Management

Risk Management Risk Estimate Project Cost

10 Project Constraints That Endanger Your Project’s Success

ProjectManager.com

JULY 5, 2018

One of the biggest challenges of every project manager is project constraints. They limit a project, and they can quickly endanger your project’s success. Hence, it’s important to know all possible constraints, their influences on each other and the project management tools that address those constraints.

Technical Review

Technical Review Sustainability Software Review Risk Management

Project Selection: Use These 8 Selection Methods for Better Strategic Results

ProjectManager.com

APRIL 13, 2022

Projects need management. Much of the focus of project management is obviously on methodologies that keep your project on time and within budget. That’s where project selection comes in. Project selection is all about picking the right project at the right time for your organization.

Software Review

Software Review Project Life Cycle Manufacturing Executing

Risk Management Resources

Herding Cats

MAY 10, 2019

Risk Management is essential for development and production programs. Information about key project cost, (technical) performance, and schedule attributes is often uncertain or unknown until late in the program. Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003. Risk Management Papers. “A

Risk Management

Risk Management Risk Technical Review 2002

Stakeholder Mapping 101: A Quick Guide to Stakeholder Maps

ProjectManager.com

APRIL 22, 2021

More than just being able to identify who the stakeholders are in the project, you need to manage them. How do you know who needs what when communicating with them during the project? That is the beginning of stakeholder management, and it starts with stakeholder mapping. It’s a big task. Try it for yourself today!

Influencer

Influencer Closing Monitoring Executing

Project Management Process Groups: A Quick Guide

ProjectManager.com

NOVEMBER 19, 2021

To keep to your schedule and manage costs, you need to gather and process project data throughout the five PMBOK project management groups. What Are the 5 PMBOK Project Management Process Groups? Project management software helps project managers stay on top of each of these process groups.

Process

Process Monitoring Controlling Software Review

How to Actually Develop a Project Management Plan

Project Risk Coach

MAY 21, 2018

If this is true, why is it that some project managers put so little time in developing a project management plan? One of the reasons is that project managers may not know what to include. First, let’s look at three baselines that you may wish to include: the scope, schedule, and cost baselines.

Underperforming Technical Team

Underperforming Technical Team Planning Project Life Cycle PMI

Strategy and a Business Case Plan Template For Your Projects

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 Case is done in collaboration between a Sponsor and Senior Management. The business case supports development of the Project Charter. Competitive analysis – Who are the competitors?

Planning

Planning ChatGPT Technical Review Underperforming Technical Team

Back to Basics (Part 12): What You Need to Create a Meaningful Project Status Report

Inloox

JULY 8, 2020

As a project manager you are probably familiar with this situation: Your boss asks you to present the status of your current project in the form of a project status report by Monday. Why project status reports? What belongs in the project status report? Project number. Project manager.

Risk Management

Risk Management Risk Controlling PMO

How to Calculate Project ROI [Steps, Formula, Example]

Teamweek

APRIL 19, 2024

Project managers often struggle to calculate project ROI and communicate a project’s financial value to stakeholders as they might not have the right tools or processes to do so. This guide has everything you need to start calculating the ROI of your projects, avoid scope creep, and improve project efficiency.

Underperforming Technical Team

Underperforming Technical Team Estimate Risk Management Project Cost

A Complete Guide to PMIS

ProjectManager.com

SEPTEMBER 4, 2019

That’s what PMIS comes in, which is an acronym for project management information system. 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 Is PMIS?

Software Review

Software Review Project Life Cycle Closing Budget

What Is Project Forecasting in Project Management?

WorkOtter

JANUARY 13, 2023

In project management , it is important to ensure that the efforts of you and your team will not be in vain. Various techniques are used to determine a project’s progress and success through a process known as project forecasting. An Overview of Project Forecasting. Project Forecasting Techniques.

Estimate

Estimate Risk Management Project Cost Budget

A Compendium of Risk Management Resources

Herding Cats

MAY 11, 2019

This blog page is dedicated to the resources used to manage the risk encountered on software-intensive systems using traditional and agile development methods. Let's start with a critical understanding of the purpose of managing risk on software development projects. reducible and irreducible ? De Meyer, C.

Risk Management

Risk Management Risk Technical Review 2002

Different Project Management Terms Beginners Should Know

ProProfs Project Management

JANUARY 21, 2020

Project managers , who have just begun working on a project, may find it really stressful and time-consuming to manage multiple tasks, especially if they don’t know the basics. . Imagine you get a promotion as a project manager and are now solely responsible for various management tasks. Assumption.

Underperforming Technical Team

Underperforming Technical Team Estimate Risk Management Defining

What is A System for Value Delivery in Project Management

Project Pulse Journal

MARCH 7, 2024

What is A System for Value Delivery in Project Management Hajime Estanislao, PMP, CSM Are you a project manager looking to improve your project management skills and help your organization grow? Take the next step towards mastering the value delivery system and project management.

Governance

Governance Government Technical Review Sustainability

SWOT analysis in project management: definition, instruction & example

Types of Risks In Project Management – Are All Risks Equal?

Trending Sources

10 Do’s & Don’ts of Project Cost Management

7 Tips on Reducing Project Costs

8 Tips on Reducing Project Costs

Your Guide to Cost Benefit Analysis in Project Management

Risk Management Process Explained (+resources, templates)

Best Cost Control Techniques

Top 10 Project Management Qualifications

Project Financial Management: Managing Project Financials

Capital Budgeting: Definitions, Steps & Techniques

Risk Management Plan Example (Comprehensive Guide+Tempalte)

How to Measure Project Profitability

What Is a Cost Breakdown Structure (CBS) In Project Management?

10 Essential Excel Report Templates

Project Performance Reporting: Key Performance Reports

Notion Gantt Chart: Key Features, Pros and Cons

Cost Estimation for Projects: How to Estimate Accurately

Tableau Gantt Chart: A How-to Guide With Pros, Cons & Alternatives

15 Free PMO Templates for Excel and Word

The 10 Project Management Knowledge Areas (PMBOK)

What Is a Cost Baseline in Project Management? A Quick Guide

How to Do a Cost Benefits Analysis in Project Management

Construction Cost Management: Managing Construction Costs

Project Cost Estimation: Overview of the Process, Main Challenges, and Recommendations

Let Me Show You How to Determine Project Budget Reserves

125 Project Management Buzzwords

10 Must-Have Project Management Templates for Google Sheets

Organizational Process Assets: Definitions, Examples & Templates

Securing contingency reserves is the responsible thing to do!

10 Project Constraints That Endanger Your Project’s Success

Project Selection: Use These 8 Selection Methods for Better Strategic Results

Risk Management Resources

Stakeholder Mapping 101: A Quick Guide to Stakeholder Maps

Project Management Process Groups: A Quick Guide

How to Actually Develop a Project Management Plan

Strategy and a Business Case Plan Template For Your Projects

Back to Basics (Part 12): What You Need to Create a Meaningful Project Status Report

How to Calculate Project ROI [Steps, Formula, Example]

A Complete Guide to PMIS

What Is Project Forecasting in Project Management?

A Compendium of Risk Management Resources

Different Project Management Terms Beginners Should Know

What is A System for Value Delivery in Project Management

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