article thumbnail

Best Cost Control Techniques

ProjectManager.com

This is why in project management and business in general cost control is so important. To understand cost control, let’s first define it and then we’ll show the steps you can take to implement cost control. There are also a number of cost control techniques that can help, which we’ll also outline. What Is Cost Control?

article thumbnail

How Poor Risk Management Is Hurting Your Program

Project Risk Coach

Poor risk management is costly. Let's look at the cost of poor risk management through the example of Tom Whitley. The application of knowledge, skills, and principles to a program to achieve program objectives and to obtain benefits and control not available by managing program components individually. Program 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

Project Controls: A Quick Guide

ProjectManager.com

If something bad is going to happen on a project, it’s likely related to time, cost or scope. There are many tools that can mitigate risk in a project, but it also takes skill in something called project controls. What Are Project Controls? In project management, project controls address the following: Project strategy.

article thumbnail

What Is Change Control in Project Management?

ProjectManager.com

Teams get sick. Change control is the process used to manage all these variables. If change happens (which it always does) then it’s crucial that you have a mechanism in place to control that process. But what is change control in project management, and what are the steps necessary to implement it? Supply chains break.

article thumbnail

Cost of Quality (COQ): A Quick Guide

ProjectManager.com

Time, cost and scope have to be controlled to successfully complete a project. But we’ll also discuss the cost of good quality vs. the cost of poor quality and show you how to measure COQ. This is done in two ways as illustrated above: controlling good quality against the failure of control, which leads to bad quality.

article thumbnail

Monitoring and Controlling Projects: A "How to" Guide

Project Pulse Journal

It's about leading a team through the trenches, keeping them motivated, and ensuring smooth progress while preventing burnout. You might wonder if it's possible to keep a keen eye on every project detail without overburdening yourself and your team. Can you truly have a well-monitored project and a motivated team working harmoniously?

article thumbnail

What are the Risk Management Roles in Projects and Programs?

Project Risk Coach

Having designated risk roles ensures that significant risks receive attention and allows everyone on the team to focus on completing the project successfully. First, sponsors develop and cast the project’s vision, including goals , risk appetite , and risk thresholds. Project sponsors have several responsibilities. Click Here Now.