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Tracking Budget Variance in Project Management

ProjectManager.com

Project managers use budget variance analysis when managing projects. It’s a key technique that helps monitor and control project costs. Budget variance analysis simply compares the actual costs of a project against what the project has been budgeted for. Here are a few of those variables.

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Stakeholder Mapping 101: A Quick Guide to Stakeholder Maps

ProjectManager.com

Map your stakeholders and keep them in the loop with ProjectManager.com’s project management features. A stakeholder map is a visual, four-quadrant influence-interest matrix used to identify stakeholders and categorize them in terms of their influence and interest in the project. Try it for yourself today!

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Henry Gantt’s Biography & Role in Gantt Chart History

ProjectManager.com

Later he published Work, Wages and Profits: Their Influence on the Cost of Living (1910), Industrial Leadership (1916) and Organizing for Work (1919). Major Accomplishments Henry Gantt’s major accomplishment, one still influencing work today, is the Gantt chart. This makes it quick and easy to assign resources to tasks.

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

ProjectManager.com

The price for the product or service is then developed by using a cost breakdown analysis to figure out how much the product or service costs and then adds the profit margin. This is further broken down into direct and indirect costs. For one, a resource breakdown structure is a list of resources, not costs.

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Project Controls: A Quick Guide

ProjectManager.com

Think of project controls as the mechanism that keeps a project on schedule when planning and executing, keeping costs within budget. This means saving the project and the organization time and money. Furthermore, project controls help to answer important questions about the project. Project Implementation.

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Organizational Process Assets: Definitions, Examples & Templates

ProjectManager.com

Officially defined by the Project Management Institute’s Project Management Body of Knowledge (PMI’s PMBOK) as “the plans, processes, policies, procedures and knowledge bases specific to and used by the performing organization,” operational process assets influence the management of a project.

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How to Create a Performance Measurement Baseline for Your Projects

ProjectManager.com

The whole project is part of a performance measurement baseline, but it’s broken up by project scope, project schedule and project cost baselines. The schedule baseline is made up of project activities and the cost baseline is the budget allocated to those activities.