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Capital Budgeting: Definitions, Steps & Techniques

ProjectManager.com

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. Then we can go through the capital budgeting techniques and the steps to a capital budgeting process.

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Project Budget Template for Excel

ProjectManager.com

A project budget contains the financial details of your project, including the estimates of all the money you need to layout to lead a successful project, from resources to materials. Monitor project expenses with this Excel budget template. That’s where this project budget template comes in handy.

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How to Build and Implement a Project Strategy

ProjectManager.com

Every project is different. Project strategy is the plan that defines a project, which is why project management strategy is so important. To better manage projects, one must clearly understand project strategy, who’s responsible for it in the organization and the steps to create a project strategy.

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

ProjectManager.com

Therefore, a construction payment schedule shows how they receive compensation for their work over the project’s life cycle. This contractor payment schedule is defined in the construction contract and sets pay over regular intervals across the project schedule. Or it could be whatever is defined as a milestone.

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What Should You Include in Your Preconstruction Meeting Agenda?

ProjectManager.com

Construction projects are structured with schedules, budgets and resource allocation. Many people work on them, from general contractors overseeing subcontractors to architects and, of course, the project owner. It will become evident if the project has been poorly scoped or has unclear specifications and quality requirements.

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The Importance of Operational Project Management for Businesses

ProjectManager.com

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. For operational projects, there are two such positions.

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The Construction Resource Management Process Explained

ProjectManager.com

There are so many different subcontractors and all have to work together to deliver the project on time and within budget. There are many different types of construction resources beyond labor and we’ll define them as well as the process for construction resource management. Look at all the labor, materials, equipment, etc.,