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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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RFI in Construction: A Quick Guide for Contractors

ProjectManager.com

Clarifying information that wasn’t included or unclear in the scope of the construction contract is critical to delivering a project on time, within budget and meeting quality standards. The general contractor will create project plans and schedules with Gantt charts , but subcontractors need different tools to execute their work.

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Notion Kanban Board: Key Features, Pros, Cons & Alternatives

ProjectManager.com

Choosing the best kanban software for your organization can be challenging due to the variety of options available, which offer different feature sets and price plans. One basic, simple-to-use kanban software that can help your team get started with the kanban methodology is Notion. Here are some of its main features.

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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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Resource Requirements in Project Management: A Quick Guide

ProjectManager.com

Resource requirements in project management allow project managers to know what they’ll need to execute their tasks and deliver the project on time and within their budget. Knowing one’s resource requirements will also help project managers to get the most out of their resources. This will also inform your budget.

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Free Timesheet Template for Google Sheets: Track Labor Costs Online

ProjectManager.com

Tracking labor costs in projects or business operations progress is important to ensure you’re not overspending. This might cause you to go over your project budget or affect the profitability of your business, especially in labor-intensive industries such as construction or manufacturing.

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Measuring the Project Management Maturity of Your Organization

ProjectManager.com

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.