ProjectManager.com

NOVEMBER 21, 2023

Whether you call it project financial management or project accounting, managing a project’s finances is essential to delivering a successful project. It’s more than just keeping up with costs. There’s a lot of planning, managing and tracking involved. What Is Project Financial Management?

Finance 335

Finance Estimate Budget Risk Management 335

Epicflow Blog

JULY 5, 2022

Estimation of project cost is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. At the same time, the forecasted cost should not be too overestimated or underestimated. What helps make cost estimation simple and efficient?

Project Cost 52

Project Cost Estimate Process Budget 52

Rebel’s Guide to PM

FEBRUARY 5, 2024

If you are planning a budget for a project proposal i.e. pitching to someone else for them to secure your services to deliver a piece of work, then read this article about preparing a budget for a proposal. What is included in a project budget? I find this helps me establish what’s in the project budget and what isn’t.

Budget 307

Budget Project Cost Estimate Finance 307

Project Pulse Journal

NOVEMBER 24, 2023

By: Dr. Michael Shick, MSPM, PMP, CSM Are you a project manager struggling to predict the risks in your projects accurately during planning? Do you find yourself overcome by the inherent uncertainty of project variables like cost or schedule and worried about how they might impact your project's success?

Risk Management 52

Risk Management Risk Engineering Estimate 52

nTask

MARCH 30, 2022

According to a report generated by PMI , 14% of the IT projects surveyed and started by companies in the organizational paradigm are deemed failures. Today, we will discuss project cost management, the benefits associated with it, and the steps involved in the overall cost management process.

2022 88

2022 Project Cost Construction Budget 88

ProjectManager.com

OCTOBER 18, 2023

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.

Performance Measurement 352

Performance Measurement Risk Management Budget Monitoring 352

ProjectManager.com

NOVEMBER 23, 2023

Then we can go through the capital budgeting techniques and the steps to a capital budgeting process. Capital budgeting is a process by which investments in large-scale projects are analyzed, evaluated and prioritized. Whatever capital budgeting decisions one makes, project management software can help track those costs.

Budget 346

Budget Technical Review Software Review Executing 346

EasyProjects

OCTOBER 19, 2020

Whether it’s designing a new product or improving upon an existing work process, nothing matters more than how much it will cost the company in the end. This is where project cost management comes into play. For this reason, a budget must be determined to ensure that the allocated project costs stay in line.

Project Cost 98

Project Cost Estimate Budget Consulting 98

ProjectManager.com

APRIL 19, 2024

Kanban and scrum are agile project management methodologies that can be used for similar purposes, but each has its unique pros and cons. As a project manager, it’s important to understand the difference between kanban and scrum so you can determine the best approach for your team. What Is Kanban?

SCRUM 412

SCRUM Manufacturing 2001 Agile 412

Teamweek

DECEMBER 1, 2022

Even when you tell yourself that “this time is going to be different,” — but project costs somehow still manage to get out of control? Only 43% of projects are “mostly or always” completed on budget. Let’s talk about project cost management. ??. Cost estimating.

Project Cost 52

Project Cost Technical Review Estimate Budget 52

Epicflow Blog

MARCH 22, 2024

This article is inspired by the webinar featuring Epicflow co-founder Jan Willem Tromp and professor Mario Vanhoucke based on his latest book “The Illusion of Control: Project Data, Computer Algorithms and Human Intuition for Project Management and Control”.

Risk Management 52

Risk Management Controlling Risk Aerospace 52

ProjectManager.com

MARCH 22, 2024

Construction projects are often long and complicated endeavors. Payment is determined in the contract process, which includes the contractor payment schedule. This contractor payment schedule is defined in the construction contract and sets pay over regular intervals across the project schedule. They’re also expensive.

Construction 314

Construction Software Review Budget Defining 314

ProjectManager.com

JUNE 22, 2022

Project accounting, as with general accounting, is a method by which project managers can manage project finances. Project accounting is not the same as balancing your checkbook or even seeking the service of a certified public accountant as it’s unique to project management. Learn more.

Software Review 354

Software Review Finance Monitoring Project Cost 354

ProjectManager.com

JULY 5, 2023

Construction costs are one of many metrics that a general contractor has to keep an eye on. There are others, of course, such as the schedule, quality, safety and much more. But if the construction cost goes over budget, that’s coming out of the contractor’s pocket. That’s why construction cost management is so important.

Construction 306

Construction Estimate Monitoring Budget 306

ProjectManager.com

OCTOBER 21, 2022

In project management, a program is a set of related projects that are executed simultaneously by organizations to make the most out of their resources and maximize their return on investment (ROI). Program management requires company-wide collaboration and lots of planning. A program manager oversees this process.

Certification 389

Certification Risk Management PMI Leadership 389

ProjectManager.com

DECEMBER 9, 2021

An alternative analysis is how project managers choose how they’re going to approach a project. There are always options, and knowing which is the best one for your project takes time, research and an understanding of possible scenarios. Using AOA will help reduce the risk of project failure.

Risk Management 334

Risk Management Defining Risk Initiating 334

ProjectManager.com

MARCH 31, 2023

Welcome to project management 101. Project management can seem like a daunting discipline, but once you get a grasp of the fundamentals and combine that with some intuition, you’ll be on your way to leading successful projects, no matter your situation. What Is a Project? What Is Project Management?

Project Life Cycle 403

Project Life Cycle Software Review Monitoring Budget 403

ProjectManager.com

MARCH 12, 2024

Once one understands what resource requirements are in project management, next there is estimating what those resources will be and managing them. To help with this process, we’ll define resource requirements and link to a free resource plan template. What Are Resource Requirements in Project Management?

Software Review 337

Software Review Estimate Defining Budget 337

ProjectManager.com

MARCH 21, 2022

Whether you’re a numbers person or not, as a project manager, ownership of a budget is usually a key part of your job responsibilities. Creating and managing a project budget can be a daunting task, but it can be easy if you use the right project budgeting software. What Is a Project Budget? Learn More!

Budget 317

Budget Software Review Software Estimate 317

ProjectManager.com

JULY 26, 2023

Before you can start a project — even before you can plan it — you first need to define the project in detail. This allows the project manager to get buy-in from the project’s key stakeholders and ensure all the research has been done to move into the planning phase without any hiccups.

Initiating 285

Initiating Software Review Prince2 Risk Management 285

Rebel’s Guide to PM

JANUARY 31, 2024

Everyone wants their projects to be “quality” but I often get asked about how to manage project quality in real life. What does it mean to “do” project quality? You probably already know that you need a quality management plan , and that management, assurance and control are the pillars of doing it right.

Software Review 332

Software Review Technical Review Budget Defining 332

ProjectManager.com

FEBRUARY 24, 2020

The answer is a cost management plan. What is a Cost Management Plan? A cost management plan is a method of strategizing the planning and execution of a project’s budget. Of course, this is done in order to complete your project on time and on budget. Cost Estimation.

Planning 293

Planning Estimate Budget Project Cost 293

ProjectManager.com

NOVEMBER 27, 2019

What do you need to know to succeed at project management? While there’s some truth to that joke, it’s not helpful to the student or the experienced professional who is looking for a way to understand the myriad responsibilities of being a project manager. What is PMBOK in Project Management? Everything!

Monitoring 502

Monitoring Risk Management Controlling Technical Review 502

ProjectManager.com

SEPTEMBER 2, 2021

It’s with this cost baseline that you can make cost estimates for each task of your project and see if you’re on target or overspending. Let’s take a moment to fully understand this cost management basic concept and how you can use it to keep your project on track. Try ProjectManager free today!

Estimate 314

Estimate Software Review Budget Project Cost 314

ProjectManager.com

MARCH 2, 2020

If something bad is going to happen on a project, it’s likely related to time, cost or scope. Project managers are well aware of this and spend much of their time planning in order to avoid negative risk and its potential impact. What Are Project Controls? Cost estimates. Risk management.

Controlling 413

Controlling Underperforming Technical Team Estimate Risk Management 413

Project Bliss

JANUARY 30, 2022

Many organizations don’t fully understand the benefits of project management. Can you easily explain the value you provide to an organization as a project manager? When I was a newer project manager working at a startup company, the president asked me to come into his office and explain what I did.

Software Review 296

Software Review Technical Review Risk Management Budget 296

Rebel’s Guide to PM

NOVEMBER 2, 2023

Managing resources in professional services firms is crucial for maintaining sustainability and achieving anticipated employee performance goals. But unfortunately, many resource managers have to rely on approximation and guesswork because they don’t have the right tools and techniques. Let us begin with the basics.

Underperforming Technical Team 299

Underperforming Technical Team Technical Review Software Review Estimate 299

Inloox

APRIL 16, 2024

SWOT analysis in the project management context Why should I conduct a SWOT analysis? How to perform a SWOT analysis Once the SWOT analysis is completed: 5 key approaches for strategy development Concrete example: SWOT analysis in a software development project Conclusion 1. Content What is a SWOT analysis?

Artificial Inteligence 100

Artificial Inteligence Underperforming Technical Team Technical Review Development Team Review 100

ProjectManager.com

FEBRUARY 21, 2023

A PMO, or project management office, can be an internal department or an external group or agency that defines and maintains the standards for a company’s project management. However, all three can use PMO templates to support project programs and portfolios.

PMO 247

PMO Software Review Risk Management Risk 247

The Lazy Project Manager

SEPTEMBER 16, 2020

The Lazy Project Manager. I n the 2020’s can there be any remaining justification for using worksheets to build and store project cost calculations? We are, without any doubt, in the word of social collaboration in project management, harnessing the power of the many and strength of the collective.

2020 279

2020 Project Cost Estimate Risk Management 279

ProjectManager.com

JANUARY 8, 2021

It’s how you build a budget by figuring out as best as possible what your project costs will be, including resources and how long you’ll need them for. Managing a project means estimating time and costs, but it also involves bringing vendors and contractors into the mix. Of course an estimate is not foolproof.

Estimate 382

Estimate Budget Executing Monitoring 382

Inloox

FEBRUARY 26, 2019

In the last blog post on process optimization in project management we introduced you to the 5-S framework, which is also very popular in Lean Management. Therefore, we will now deepen the topic Lean Project Management. Reduce overall costs. Eliminate unnecessary waste of time, budget or resources.

Lean 128

Lean Process Controlling Defining 128

ProjectManager.com

DECEMBER 14, 2022

You’ve heard it countless times; teams are projects’ most valuable resource. But a project manager has to connect each team member to that work. Resource loading is a process to keep team members fully engaged throughout the project. Project management software can help you with resource loading.

Budget 300

Budget Monitoring Sustainability Software 300

Rebel’s Guide to PM

AUGUST 29, 2021

Risks matter. Stuff happens on projects, and if the worst happens, it’s better to know about it in advance. That’s the point of risk management: thinking about what might go wrong before it does, so you can put a plan together to deal with it if it does. What’s a risk again? Internal risks. Lack of support.

Risk 320

Risk Technical Review Risk Management Estimate 320

ProjectManager.com

JUNE 2, 2022

Projects are designed to deliver a product or a service within a specific timeframe and budget, a process that the project manager oversees. If that person is a product manager , he or she may apply a product breakdown structure (PBS). ProjectManager has Gantt charts that show you the entire project on a timeline.

Prince2 206

Prince2 Risk Management Development Team Review Executing 206

ProjectManager.com

SEPTEMBER 23, 2020

Projects cost money. Being able to manage and track expenses is what keeps the project within a budget. Stakeholders are not likely to consider the project a success if it costs them too much. Remember the triple constraint: cost, scope and time. In Review: How to Track Expenses.

Budget 401

Budget Software Review Controlling 2020 401

ProjectManager.com

APRIL 19, 2023

There’s more than one way to manage a construction project. Along the way, we’ll explain why lean construction can benefit your project and how the right project management software can help you take advantage of lean construction. ProjectManager has Gantt charts to manage your lean construction.

Construction 315

Construction Lean Manufacturing Engineering 315