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The 5 Phases of the Construction Process (Templates Included)

ProjectManager.com

Construction project management has five phases, the same as any project. Construction phases have different names and require different documentation to begin with. We’ll define in depth each of the five construction phases: initiation, pre-construction, procurement, construction and post-construction.

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Rough Order of Magnitude (ROM): Understanding ROM Estimates

ProjectManager.com

Rough order of magnitude (ROM) can help you better estimate project costs. But what is ROM and how can you calculate ROM estimates? We’ll explain the process, define the term and detail the steps for making a rough order of magnitude estimate. As noted, the rough order of magnitude is a technique to estimate project costs.

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Building Budgets: A Guide to Accurate Construction Cost Estimates

Wrike

Accurate construction cost estimates are crucial for successful project planning and execution. Understanding the Basics of Construction Budgeting Accurate cost estimation is the cornerstone of construction budgeting. Moreover, accurate cost estimates play a crucial role in financial planning and control.

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Schematic Design Phase: A Quick Guide for Projects

ProjectManager.com

In construction, there’s so much that takes place before the build begins. Then there’s the schematic design, which is a rough drawing of the project’s basic features and cost estimates. Construction is a complicated process. There are a lot of stakeholders and resources needed to deliver a construction project.

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

ProjectManager.com

Information technology (IT) runs most businesses. This will include an accurate estimate of decentralized IT spending and shadow IT spending, the former being the distribution of functions, control and information, while the latter is IT-related hardware and software use without the knowledge of the IT department.

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Resource Estimation in Project Management: Ultimate Guide

WorkOtter

Resource estimation is an integral part of project management that often gets overlooked. Here’s your guide to resource estimation in project management and other factors, such as resource costs. What Is Resource Estimation in Project Management? This can be team members, different materials, technology, and equipment.

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Measuring the Project Management Maturity of Your Organization

ProjectManager.com

This is true across all industries, from construction to manufacturing, professional services to IT and, really any organization that is managing projects. Cost Management This process works to better estimate, budget and control costs throughout a project’s life cycle and keep expenditures within the approved budget.