article thumbnail

How to Create a Project Initiation Document (Template Included)

ProjectManager.com

What Is a Project Initiation Document (PID)? A project initiation document (PID) is used to define the project thoroughly. It’s similar to a project charter but more in-depth. It’s used primarily in PRINCE2 methodology, which is an acronym that stands for PRojects IN Controlled Environments.

article thumbnail

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

Project Cost Management often puts people off. But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. Project cost over-runs are common. The governance considerations for project cost management.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Episode 185 – Redefining Project Success through Sustainable Project Management

Velociteach

So when we look at green projects, it’s are you taking a total asset lifecycle focus? “Oh, We’re not being taught to think outside the box of initiate to close. So when we look at green projects, it’s are you taking a total asset lifecycle focus? And as for cost! So was this project a success? Wrong answer.

article thumbnail

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

Accuracy - how close is the estimate to the actual value? So in the end, if we are to make a decision in the presence of uncertainty, we MUST make estimates to develop a reliable shipping date while producing an accurate and precise estimate of the cost, schedule, and technical performance of the product shipped on that date.

2003 46
article thumbnail

Risk Management Resources

Herding Cats

Information about key project cost, (technical) performance, and schedule attributes is often uncertain or unknown until late in the program. How to Deal with Project Risk Management Effectively In Your Organization?,” Scale Project Management Is Risk Management, “Robert N. Maxime Le Bras, “Large?Scale 117, July 1998.

article thumbnail

A Compendium of Risk Management Resources

Herding Cats

Let's start with a critical understanding of the purpose of managing risk on software development projects. Information about key project cost, (technical) performance and schedule attributes is often uncertain or unknown until late in the program. How to Deal with Project Risk Management Effectively In Your Organization?,”

article thumbnail

How to recruit an outstanding project manager (Part I)

Susanne Madsen

A great project manager is honest and approachable and focuses on people as much as on tasks. She knows that she cannot manage a project from behind her desk. Instead she works closely with team members and is not afraid of getting her hands dirty. Allocate a desired score between 1 and 10 to each capability.

Prince2 95