article thumbnail

How to Create a Performance Measurement Baseline for Your Projects

ProjectManager.com

Projects are planned and then life happens. Ideally, project managers know better than to execute their project plans without a performance measurement baseline. What Is a Performance Measurement Baseline? This is one tool project managers use to see where they are versus where they planned to be.

article thumbnail

What is the Management Reserve for Project Budgets?

Project Risk Coach

You look at your budget, but you don't have the funds to respond to these risks. The project manager adds the contingency reserve to the project budget, resulting in the cost baseline. The management reserve is the amount of the project budget reserved for unforeseen work that is within the scope of the project.

Budget 284
Insiders

Sign Up for our Newsletter

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

article thumbnail

Project Performance Reporting: Key Performance Reports

ProjectManager.com

Keeping tabs on the performance of your project is an essential part of project management. Tracking project performance gives project managers the data they need to keep the actual effort of the project aligned with the planned effort and deliver the project on time and within its budget.

article thumbnail

Cost Performance Index (CPI) In Project Management

ProjectManager.com

It can also help to make your budgeted resources more cost-effective. The cost performance shows if the project is effectively staying on budget or not. The project budget is only our best estimate of what it will cost. But that budget, once approved, rules your project’s costs. Project costs can vary.

article thumbnail

What Is a Balanced Scorecard? (Example & Template Included)

ProjectManager.com

Relatively new, the balance scorecard was introduced in 1992 by David Norton and Robert Kaplan, by taking existing metric performance measures and adapting them to include nonfinancial information. The balanced scorecard measures four aspects of a business or organization: finance, customers, business processes and learning and growth.

article thumbnail

Webinar Recap: Project Performance Measurement – Part 1: Overview Of Project Performance Measurements

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 1: Overview Of Project Performance Measurements, being provided by MPUG for the convenience of our members. Kyle: Hello, and welcome to part one of MPUGs Project Performance Measurement course.

article thumbnail

How to Create a Strategy Map for Your Organization

ProjectManager.com

That is, they all develop strategic plans to achieve long-term goals to create value. Once the strategic plan is clear across the entire organization, project management software will help plan, manage and track those projects to successful completion. Get started with ProjectManager today for free.