Remove Budget Remove Performance Measurement Remove Planning Remove Project Cost
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. Without that knowledge, the project is running blindly, and anyone who’s tried this knows the dangers. Learn more.

article thumbnail

What is the Management Reserve for Project Budgets?

Project Risk Coach

Have you ever run out of money for a project? You look at your budget, but you don't have the funds to respond to these risks. Let's explore management reserves for projects, who controls them, and how to estimate the reserves. Project Budget = Cost Baseline + Management Reserve Who Controls the Management Reserve?

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

Cost Performance Index (CPI) In Project Management

ProjectManager.com

Projects cost money. But what’s harder to discern is if the project is worth the investment. The last thing stakeholders want is to discover the project isn’t financially effective. That’s where the cost performance index comes in. It can also help to make your budgeted resources more cost-effective.

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

A Complete Guide to PMIS

ProjectManager.com

A project management information system (PMIS) is how information needed to run a project is organized. It collects and uses project information through one or more software applications. What these programs do is help project managers to plan, execute and close their project.

article thumbnail

125 Project Management Buzzwords

The IIL Blog

Backlog A list of tasks, features, or requirements to be addressed by an agile project manager or team and is often associated with Agile methodologies. Baseline An original plan for measuring performance and tracking changes. identify items such as benefits and costs). process, policy, practices, perceptions, etc.)

article thumbnail

Introduction to Earned Value Formulas

MPUG

Actual Cost Actual cost (abbreviated as AC) is simply the total amount spent on the project so far. You can get this number from your finance analyst, budget spreadsheet, or report. Budget at Completion (BAC) Budget at completion (BAC) is exactly what it sounds like: the budget forecast.

Budget 40