article thumbnail

How to Build and Implement a Project Strategy

ProjectManager.com

Every project is different. Project strategy is the plan that defines a project, which is why project management strategy is so important. To better manage projects, one must clearly understand project strategy, who’s responsible for it in the organization and the steps to create a project strategy.

Budget 376
article thumbnail

How to Make a Contractor Payment Schedule in Construction (Template Included)

ProjectManager.com

Therefore, a construction payment schedule shows how they receive compensation for their work over the project’s life cycle. This contractor payment schedule is defined in the construction contract and sets pay over regular intervals across the project schedule. Or it could be whatever is defined as a milestone.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How to Start a Project in 10 Steps

ProjectManager.com

Knowing how to start a project is one of the most critical skills for any project manager. A large project (or a small one) starts with the small stuff and builds to something bigger and more complex. You need to get to work, but how you get to work is equally important. What is its purpose or reason for existence?

Estimate 272
article thumbnail

How to Make a Gantt Chart in Word (Template Included)

ProjectManager.com

While Word isn’t project management software , it’s a tool that you might need to use at some point to create project reports or other types of documents. Because of this, knowing how to make a Gantt chart in Word can be helpful. Get started with ProjectManager today for free. Here are some of them.

article thumbnail

Project Cost Estimation: A Guide to Quoting Profitable Projects

Scoro

They’re the foundation for setting realistic budgets, avoiding costly overruns, and ensuring your projects stay on track financially. In this article, we’ll explain everything you need to know about project cost estimation—from what it is and different types of estimates to step-by-step instructions and expert tips for accuracy.

article thumbnail

How to Measure Project Profitability

ProjectManager.com

Being able to determine beforehand whether a project will turn a profit is how organizations can decide which projects to initiate and which ones to skip. But what exactly is profit profitability and how does it relate to professional services teams, consultants, CFOs and accountants? What Is Project Profitability?

article thumbnail

15 Project Management Challenges & How to Overcome Them

ProjectManager.com

But even the best planning isn’t going to avoid challenges throughout the project. Let’s look at 15 project management challenges and how to deal with them. 15 Project Management Challenges You Should Prepare for Here are the most common challenges project managers face in their day-to-day lives.

Estimate 318