article thumbnail

3 Ways to Improve Cost Estimates with Your Teams

Project Risk Coach

The group identified several items that Jane had not thought of including facilities, the cost to interface the policy admin system to a third party, contingency reserves, and financing cost. Bob emailed the stakeholders a survey link asking, "What items should be included in the project budget?" Why do the disagreements exist?"

Estimate 370
article thumbnail

Overcoming bias in project management

Rebel’s Guide to PM

A project manager with a confirmation bias could use a questionable report to justify polluting the environment, since she actually only wants confirmation that the containment cost she missed in her budget is unnecessary. Belief bias in project management. Finally, a project manager should heed the belief bias.

Insiders

Sign Up for our Newsletter

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

article thumbnail

A Guide to Project Closure: 12 Essential Things To Do

Rebel’s Guide to PM

Close out the budget and contracts. Your project budget and contracts are closed out at project completion. The easiest way to do this is to talk to the person you’ve been dealing with in Finance and make sure they’ve got everything they need to shut down the project budget.

Closing 419
article thumbnail

3 Team Techniques to Improve Cost Estimates

Project Risk Coach

Improve buy-in and support for your project budgets Do you ever feel like the Lone Ranger when trying to improve cost estimates? Not only will you improve your cost estimates, but you’ll also get better buy-in and support in keeping the project within budget. You’re not alone. Actually, you have a team.

Estimate 150
article thumbnail

What To Do When Your Team Doesn’t Believe The Project Schedule

Rebel’s Guide to PM

You’ve just got one day for budget approval,” said Claire from Finance. It is highly likely that the result of doing this exercise is a project that will finish later than you originally had in mind. You do know that the approval cycle is three weeks? And there’s nothing in the plan for training.

Estimate 336
article thumbnail

What To Do When Your Team Doesn’t Believe The Project Schedule

Rebel’s Guide to PM

You’ve just got one day for budget approval,” said Claire from Finance. It is highly likely that the result of doing this exercise is a project that will finish later than you originally had in mind. You do know that the approval cycle is three weeks? And there’s nothing in the plan for training.

Estimate 251
article thumbnail

Learn How To Effectively Share Essential Needs With Management

Scrum.org

For example, from management, stakeholders, and other departments like HR, sales, or finance. For example, the organization uses a budgeting system that forces teams to make unrealistic forecasts. It offers material for the Liberating Structure “What I Need From You”, and many other exercises as well. A facilitation guide.

SCRUM 171