Blog - Project Management Update

What Is a Balanced Scorecard? (Example & Template Included)

ProjectManager.com

JANUARY 31, 2024

Coming up with long-term goals for a business or organization is just the beginning of a five-year project. If you’re not familiar with a balanced scorecard, we’ll define the term and show the four perspectives it tracks as well as explain what should be included in a balanced scorecard. What Is a Balanced Scorecard?

Performance Measurement

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Top Project Metrics You Need to Track

ProjectManager.com

SEPTEMBER 28, 2023

To ensure that your project is meeting scheduling and budget milestones, you need to have project metrics to measure your progress and performance. Project metrics are essential to delivering a project on time and within its budget. But what are project metrics?

Budget

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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

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Cost Performance Index (CPI) In Project Management

ProjectManager.com

NOVEMBER 7, 2023

Projects cost money. But what’s harder to discern is if the project is worth the investment. The last thing stakeholders want is to discover the project isn’t financially effective. That’s where the cost performance index comes in. We’ll discuss what the cost performance index does and how it does it below.

Project Cost

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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. To make sure you understand what organizational process assets are, first, we’ll define the terms and explain their importance.

Process

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What Is a Service-Level Agreement? (Example & Templates Included)

ProjectManager.com

NOVEMBER 17, 2023

A service level agreement, often abbreviated as SLA, is used in IT and professional services to define what a vendor is expected to do. It’s part of the contract between any technology vendor and sets up what will be levied upon them if the agreement isn’t upheld. What Is a Service Level Agreement (SLA)?

Software Review

Software Review Monitoring Defining Logistics

Capacity Management in Business Operations

ProjectManager.com

MAY 8, 2024

The process of achieving that goal is called capacity management. To understand capacity management, we’ll first fully define the term, list the different types and explain why it’s so important in operations management. What Is Capacity Management? Capacity management is the first step in project planning.

Manufacturing

Manufacturing Software Review Monitoring Budget

Kanban vs. Scrum: What’s the Difference?

ProjectManager.com

APRIL 19, 2024

Kanban and scrum are agile project management methodologies that can be used for similar purposes, but each has its unique pros and cons. As a project manager, it’s important to understand the difference between kanban and scrum so you can determine the best approach for your team. What Is Kanban? What Is Scrum?

SCRUM

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Measuring the Project Management Maturity of Your Organization

ProjectManager.com

JANUARY 23, 2024

When you’re a PMP, program manager or portfolio manager, you need to deliver all those multiple projects on time and within budget. This requires an organization with a well-developed project management process. It’s essential to keep projects successful for any organization to thrive.

Underperforming Technical Team

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7 Ways to Sell Agile to Project Stakeholders

LiquidPlanner

SEPTEMBER 6, 2018

Whether you’re making the move to Agile project management in your development group or creating an Agile process for your in-house project management methodology, chances are you’re going to have to sell this change to executives in your organization. Align Agile project management with your organization’s strategy.

Agile

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The Importance of Operational Project Management for Businesses

ProjectManager.com

APRIL 23, 2024

Some projects are done internally within an organization. This is called operational project management. To better understand operational project management requires defining what an operational project is, how it differs from strategic projects and what operational project management is.

Software Review

Software Review Monitoring Technical Review Budget

What Is Lean Portfolio Management? A Quick Guide

ProjectManager.com

DECEMBER 13, 2022

Having many projects to manage in a portfolio can be daunting. You need to strategize and plan your resource allocation to ensure that every project has what it needs when it needs it. There are many ways to do this and one of which is lean portfolio management. What Is Lean Portfolio Management?

Lean

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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. There’s a lot of planning, managing and tracking involved. But what exactly is financial project management?

Finance

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Organizational Process Assets: What does that even mean?

Rebel’s Guide to PM

MAY 7, 2023

Project managers are often faced with the challenge of managing complex projects and ensuring that they stay on track. But what is an organizational process asset (OPA)? I’ll confess: when I started out as a project manager, this was a piece of jargon that honestly didn’t mean much at all?

Process

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Enterprise Project Management: Benefits, Challenges & Tools

ProjectManager.com

JANUARY 3, 2024

Managing more than one project at a time creates a lot of problems. How can you allocate resources wisely across all those projects? How can you keep the projects aligned with the strategic goals of the organization? That and more is what enterprise project management does.

Software Review

Software Review Budget Monitoring Risk Management

How to Make a Contractor Payment Schedule in Construction (Template Included)

ProjectManager.com

MARCH 22, 2024

Construction projects are often long and complicated endeavors. What’s included in the contractor payment schedule and the different types are a critical part of the professional relationship between the project owner and the general contractor. What Is a Contractor Payment Schedule? They’re also expensive.

Construction

Construction Software Review Budget Defining

What Is Program Governance? Importance & Benefits

ProjectManager.com

DECEMBER 26, 2023

A program is a set of connected projects that are under the oversight of a steering committee, which is the program governance body. Program governance is a critical component to successfully managing a program of projects. But what does program governance mean and why is it so important? What Is Program Governance?

Governance

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Operational Efficiency: A Quick Guide

ProjectManager.com

AUGUST 31, 2022

What is operational efficiency and how can you measure it to take advantage of its benefits? Let’s start with the definition and explore how to improve operational efficiency in addition to ways that using project management software can help manufacturers. What Is Operational Efficiency? But it’s worth the effort.

Manufacturing

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Project Evaluation Process: Definition, Methods & Steps

ProjectManager.com

MAY 9, 2022

Managing a project is a very challenging, but project evaluation makes it easier. Everything starts with careful planning, which sets the stage for the execution phase where estimations, plans and schedules guide the project team as they complete tasks and deliverables. What Is Project Evaluation?

Process

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How to Calculate Manufacturing Cycle Time (Formula Included)

ProjectManager.com

OCTOBER 10, 2023

Cycle time is one of the key performance indicators (KPIs) that manufacturers use to measure the time they spend working on an item. Before we share how to calculate the manufacturing cycle time, let’s make sure we’re clear on what that term means. Finally, we show how project management software can help with manufacturing.

Manufacturing

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Capital Budgeting: Definitions, Steps & Techniques

ProjectManager.com

NOVEMBER 23, 2023

Figuring out what to spend its capital on, such as capital spending on long-term assets, is part of capital budgeting. First, we need to define capital budgeting, what a capital budget is and why it’s important. What Is Capital Budgeting? Learn more What Is a Capital Budget? It’s ready when you are.

Budget

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10 Manufacturing Key Performance Indicators (KPIs)

ProjectManager.com

MARCH 1, 2023

Manufacturing KPIs are key performance indicators and we’ll go into greater detail about the definition and why manufacturing KPIs are so important. Then we’ll list the 10 most important manufacturing KPIs and conclude with how project management software can help you track those manufacturing KPIs. What Are Manufacturing KPIs?

Manufacturing

Manufacturing Software Review Performance Measurement Monitoring

How to Write a Product Requirements Document (PRD)

ProjectManager.com

OCTOBER 4, 2022

That’s why a project requirements document (PRD) is so important. But what exactly is a product requirements document and what needs to be included in one for it to be effective? What Is a Product Requirements Document (PRD)? There are also details on how end users will engage with the product and what it will look like.

Engineering

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Business Project Management Basics

ProjectManager.com

SEPTEMBER 14, 2023

Businesses aren’t projects but they share many commonalities. While businesses run projects, they also have strategies and objectives that must be met. All of these things and more make them a perfect candidate for business project management. Let’s first explore the definition of business project management.

Software Review

Software Review Monitoring Technical Review Risk Management

Project Monitoring and Control: Tools & Steps

ProjectManager.com

JUNE 28, 2023

Projects are divided into phases to make them more manageable. All are important, especially project monitoring. Project monitoring and control is how a project manager ensures the plan they’re implementing with the project team goes off without a hitch. What Is Project Monitoring and Control?

Monitoring

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What Is a PMO Director? Role, Responsibilities & Salary

ProjectManager.com

OCTOBER 6, 2023

PMO stands for project management office and it’s responsible for the project management standards in an organization. The two others are the program management office and the portfolio management office. What Is a PMO Director? Learn more What Does a PMO Director Do?

PMO

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What Is Demand Planning? Tips, Strategies and Tools

ProjectManager.com

AUGUST 27, 2021

What Is Demand Planning? Demand planning is a cross-functional process that businesses use to meet customer demand while avoiding supply chain or inventory management disruptions. Demand planning is a cross-functional process that businesses use to meet customer demand while avoiding supply chain or inventory management disruptions.

Planning

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7 Budget Templates for Business & Project Budgeting

ProjectManager.com

DECEMBER 13, 2023

The project budget is developed during the planning phase of a project. It’s a document that captures the total costs required to complete a project over a specified timeframe. The more accurate your forecast for project costs, the more likely you’ll be able to deliver a successful project and make a profit.

Budget

Budget Construction Estimate Executing

10 Key Construction Job Titles: Overview & Salary

ProjectManager.com

NOVEMBER 2, 2023

Whether you’re interested in a career in construction or looking to fill an open position in your construction management company, there are a lot of entry points. We explain what each is and offer a salary average to see how much you can expect to earn or pay for one of these construction management roles.

Construction

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Asana vs. Monday: In-Depth Software Comparison

ProjectManager.com

FEBRUARY 1, 2024

Monday is a matchup made for project management professionals. You can’t have both, so you want what’s best. Asana vs. Monday are both similar project management tools. They have features, such as project tracking, workflow automation and other standard project management software features.

Software Review

Software Review Software 2024 2008

Project Health: How to Keep Your Project Healthy

ProjectManager.com

AUGUST 23, 2023

Just as a body works best when healthy, such is also the case with a project. To understand what project health is let’s define it and the areas that should be monitored to make sure your project is healthy. What Is Project Health? Project management software acts as the thermometer for the project.

Monitoring

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What Is a Project Owner? Roles & Responsibilities

ProjectManager.com

OCTOBER 4, 2023

For a project to function properly and be delivered on time and within its budget, all the roles and responsibilities of everyone involved must be clearly defined and communicated. Everyone has their part to play in the process, which is orchestrated by the project manager acting on behalf of the project owner.

Closing

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How to Make a Construction Phase Plan (Templates Included)

ProjectManager.com

OCTOBER 20, 2023

Construction projects come big and complex as well as small and simple, but one thing they all share is a construction phase plan. The construction phase plan is a critical construction project management document that helps to ensure a safe project. What Is a Construction Phase Plan? Learn more.

Construction

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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. What Is Project Profitability?

Initiating

Initiating Project Cost Estimate Software

The Growth in Importance of Project Value

The IIL Blog

NOVEMBER 15, 2023

November 15, 2023 All management disciplines, project management included, contain words and expressions that have meanings susceptible to change over time. Introduction to Value Value is what something is worth, either to the individual using the word or the organization. By Harold Kerzner, Ph.D.

2023

2023 Engineering Project Life Cycle Technical Review

Agile OKRs to Measure Improvement in Flow and Value Outcomes OKRs

Scrum.org

APRIL 9, 2023

I have been working on agile projects for the past 10 years. Numerous industry surveys have been conducted over the last decade that report a number of outcomes from being agile, including an improved ability to manage changing priorities, increased team productivity, improved transparency, improved team morale, and a faster delivery.

Agile

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10 Strategies for Successful Project Execution

ProjectManager.com

MAY 19, 2022

Is your organization failing to close the gaps between strategy and project execution? Let’s review strategies and tools you can use, and learn how they can help you close that gap to promote successful project execution. What is Project Execution? Project Execution Steps. Execute Project Scope.

Executing

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Production Capacity: Formula, Examples

ProjectManager.com

SEPTEMBER 20, 2023

Production capacity is an essential metric for manufacturers. What Is Production Capacity? In order to take advantage of production capacity’s help with making sound financial plans and accurately forecasting business growth, you’ll need project management software. Here are two.

Manufacturing

Manufacturing Lean Estimate Software

Lean Construction Principles & Best Practices

ProjectManager.com

APRIL 19, 2023

There’s more than one way to manage a construction project. Let’s explore lean construction, defining what it is and its key principles. Along the way, we’ll explain why lean construction can benefit your project and how the right project management software can help you take advantage of lean construction.

Construction

Construction Lean Manufacturing Engineering

5 Essential Tips for Schedule Control in Project Management

ProjectManager.com

AUGUST 5, 2021

Projects are made up of many moving parts. One of the ways that you can determine if the project is behind or ahead of schedule is called schedule control. Project planning, scheduling and control all go together when managing a project to stay on time and meet your deadlines. What Is Schedule Control?

Controlling

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What Is a Project Executive? Role, Responsibilities and Salary

ProjectManager.com

JULY 18, 2023

Most projects are hierarchical. There’s someone at the top of the project management team who answers to the stakeholders and directs the project manager and project team. That position is called a project executive. What Is a Project Executive? What Does a Project Executive Do?

Executing

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What Is a Stakeholder? Definitions, Types & Examples

ProjectManager.com

MARCH 9, 2022

Stakeholders are important to every project. They are impacted by the project, be they investor or customer. But what is a stakeholder? Let’s take some time to define what a stakeholder is, examples of stakeholders and free stakeholder templates that can help with stakeholder management. What Is a Stakeholder?

Software Review

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What Is Supplier Relationship Management (SRM)?

ProjectManager.com

DECEMBER 15, 2021

If you’re a manufacturer, you need to know about supplier relationship management (SRM). That’s why managing your relationships with suppliers and vendors is critical to keeping a manufacturing enterprise viable. What Is Supplier Relationship Management? SRM is used by professionals involved in managing supply chains.

Manufacturing

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Construction Superintendent Job Description, Responsibilities and Salary

ProjectManager.com

DECEMBER 14, 2023

Whether you’re looking to hire a construction superintendent or want to land that job yourself, you’re going to have to consider what you need or how to frame a resume to show you’re the one for the position. What Is a Construction Superintendent? What Is a Construction Superintendent? What does a construction superintendent do?

Construction

Construction Monitoring Certification Engineering

What Is a Balanced Scorecard? (Example & Template Included)

Top Project Metrics You Need to Track

Trending Sources

Project Performance Reporting: Key Performance Reports

Cost Performance Index (CPI) In Project Management

Organizational Process Assets: Definitions, Examples & Templates

What Is a Service-Level Agreement? (Example & Templates Included)

Capacity Management in Business Operations

Kanban vs. Scrum: What’s the Difference?

Measuring the Project Management Maturity of Your Organization

7 Ways to Sell Agile to Project Stakeholders

The Importance of Operational Project Management for Businesses

What Is Lean Portfolio Management? A Quick Guide

Project Financial Management: Managing Project Financials

Organizational Process Assets: What does that even mean?

Enterprise Project Management: Benefits, Challenges & Tools

How to Make a Contractor Payment Schedule in Construction (Template Included)

What Is Program Governance? Importance & Benefits

Operational Efficiency: A Quick Guide

Project Evaluation Process: Definition, Methods & Steps

How to Calculate Manufacturing Cycle Time (Formula Included)

Capital Budgeting: Definitions, Steps & Techniques

10 Manufacturing Key Performance Indicators (KPIs)

How to Write a Product Requirements Document (PRD)

Business Project Management Basics

Project Monitoring and Control: Tools & Steps

What Is a PMO Director? Role, Responsibilities & Salary

What Is Demand Planning? Tips, Strategies and Tools

7 Budget Templates for Business & Project Budgeting

10 Key Construction Job Titles: Overview & Salary

Asana vs. Monday: In-Depth Software Comparison

Project Health: How to Keep Your Project Healthy

What Is a Project Owner? Roles & Responsibilities

How to Make a Construction Phase Plan (Templates Included)

How to Measure Project Profitability

The Growth in Importance of Project Value

Agile OKRs to Measure Improvement in Flow and Value Outcomes OKRs

10 Strategies for Successful Project Execution

Production Capacity: Formula, Examples

Lean Construction Principles & Best Practices

5 Essential Tips for Schedule Control in Project Management

What Is a Project Executive? Role, Responsibilities and Salary

What Is a Stakeholder? Definitions, Types & Examples

What Is Supplier Relationship Management (SRM)?

Construction Superintendent Job Description, Responsibilities and Salary

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