Remove Article Remove Budget Remove PMI Remove Project Cost
article thumbnail

10 Knowledge Areas of project management (PPT & PDF included!)

Rebel’s Guide to PM

PMBOK 7 talks about the 8 project performance domains. Material on the Knowledge Areas can still be found in the PMI web guidance which members have access to, called Standards Plus. This article reviews and explains the 10 project management Knowledge Areas from the PMBOK® Guide -- Sixth Edition.

PMI 207
article thumbnail

What is ROM and how to calculate it (with example)

Rebel’s Guide to PM

A rough order of magnitude estimate is used to give you a very high level view of potential project costs. Ideally, you’d be able to provide a definitive estimate, carefully created from loads of input from subject matter experts and plenty of research on past projects and their budgets. When do you use a ROM estimate?

Estimate 286
Insiders

Sign Up for our Newsletter

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

article thumbnail

Everything You Need to Know About Project Cost Management in 2022

nTask

According to a report generated by PMI , 14% of the IT projects surveyed and started by companies in the organizational paradigm are deemed failures. If you are in a similar conundrum, then this article is for you. What is Project Cost Management? Importance of Project Cost Management.

2022 88
article thumbnail

12 Ways to Manage Project Quality Without Drama

Rebel’s Guide to PM

The ISO 9001 definition is very similar to APM’s, as is the definition in the PMI PMBOK ®. If you don’t have the right tools to do the job, it’s much harder to deliver a successful project. Add project management software or testing tools (or whatever else you need) to the project budget.

article thumbnail

Business Acumen for Project Managers [Free Checklist]

Rebel’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. In 2022, PMI updated the Talent Triangle to include business acumen. It really is a core skill for project professionals. So what’s it all about?

PMI 391
article thumbnail

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

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. What is not negotiable is the budget. Project Cost Management.

article thumbnail

A Beginner’s Guide to Understanding Earned Value Management

MPUG

Air Force defined the criteria for their acquisition projects which included the basic concepts of EVM. In 1987, PMI included an overview of EVM in their PMBOK Guide and in subsequent editions and during the 1990’s governmental procurement groups streamlined their activities to include EVM reform.