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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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What Is an IT Budget? IT Budgeting Basics (Template Included)

ProjectManager.com

Information technology (IT) runs most businesses. Managing information costs and managing information security for those costs are part of making an IT budget. First, we need to understand what an IT budget is, how often they’re made and what is the best size for one. What Is an IT Budget?

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57 AI in Project Management Statistics

Rebel’s Guide to PM

We gathered 57 of the top AI in project management statistics to help understand this key development in technology. Recent advancements in tech have changed how project managers work in 2024. Only 12% have adopted AI in a substantial way, and the adoption levels are much higher in tech-forward companies (34%).

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The 5 Phases of the Construction Process (Templates Included)

ProjectManager.com

From the smallest to the largest and most complicated, they’re broken down into five construction phases to detail all the steps necessary to complete the project on time and within budget. The construction bidding process will also begin at this point. This includes the final drawings and specifications.

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The Importance of Operational Project Management for Businesses

ProjectManager.com

However, because they’re concerned with streamlining department workflows, implementing new technology or processes or even updating the company’s offerings, customers will eventually see the benefits of these improvements. Therefore, these are internal projects that aren’t designed to directly impact an audience or customer base.

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Everything You Need to Know About Release Managers

Rebel’s Guide to PM

It wasn’t until I worked in IT as a project manager that I had a lot of contact with the release management process. My software projects needed releasing, so we had to follow the formal process and engage with the release manager to make sure that the bug fixes and new features got pushed to the production environment in a controlled way.

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Change Control Board: Roles, Responsibilities & Processes

ProjectManager.com

It’s impossible to factor in everything — from weather to supply chains to change requests — something is going to conspire against your schedule and budget. A change control board is sometimes referred to as a change review board. A change control board looks at change requests which are then reviewed in detail.