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Tracking Budget Variance in Project Management

ProjectManager.com

Projects are planned, but those plans are rarely executed with changes. Those disruptions can play havoc on a project’s budget. Therefore, project managers are always tracking budget variance to deliver projects without breaking the bank. What Is Budget Variance?

Budget 298
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Importance of Scenario Planning and Analysis in Business

ProjectManager.com

This is called scenario planning. To better position a business to be prepared to respond to the unknown, learn what scenario planning is and what the different types of scenario planning are. What Is Scenario Planning? Scenario planning is different from forecasting. All have advantages and disadvantages.

Planning 330
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Have You Left Anything Out of Your Project Management Plan?

Project Risk Coach

Have you left anything out of your project management plan? Check out this checklist to help you identify the baselines and plans that will be most helpful to each of your projects. As I define a project management plan, I strive for clarity, brevity, and simplicity. schedule baseline) Subsidiary plans (e.g.,

Planning 379
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Kanban vs. Scrum: What’s the Difference?

ProjectManager.com

ProjectManager’s kanban boards offer advanced planning, scheduling and tracking features to help you manage your team’s workload and track their performance. Assign work to your team members, manage resources, estimate costs, automate workflows and much more. Get started for free today. What Is the Difference Between Scrum and Kanban?

SCRUM 411
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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. Once you set a baseline, your plan is captured and compared to your actual progress.

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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.

Process 360
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Resource Forecasting Guide for Project Managers

Rebel’s Guide to PM

Resource forecasting helps managers answer questions like: Do I have sufficient capacity and skill sets to take on additional projects? How can I stay within the budget with the available resource mix? Enterprises fail to deliver projects on time and within budget without the right forecasting tools.