Epicflow Blog

AUGUST 31, 2021

Reduction of project costs and at least avoiding significant cost overrun is one of the high priority tasks for a project manager. However, it usually becomes challenging due to a great number of factors: underestimation of project costs, uncontrolled changes, poor resource allocation, etc. Poor estimates .

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ProjectManager.com

NOVEMBER 7, 2023

Projects cost money. But what’s harder to discern is if the project is worth the investment. The last thing stakeholders want is to discover the project isn’t financially effective. That’s where the cost performance index comes in. We’ll discuss what the cost performance index does and how it does it below.

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ProjectManager.com

JULY 5, 2023

That’s why construction cost management is so important. Knowing exactly what construction cost management means and what a construction cost is can be the difference between project success or failure. We’ll go over those definitions and explain the construction cost management process so you can manage projects better.

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ProjectManager.com

MARCH 14, 2024

Define the Purpose of Your Project The first step is knowing the underlying reason for the project you plan on initiating. One must know the why of the project: why are we doing this? The more precise and compelling your definition of the project’s purpose, the more likely it will be planned and delivered successfully.

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Teamweek

DECEMBER 15, 2022

Effective project monitoring helps keep the moving parts of a project flowing. But maintaining one eye on the broader picture is challenging for even the most experienced project managers. In this guide, you’ll learn what project monitoring is, the three key constraints, and how to monitor them effectively.

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ProjectManager.com

OCTOBER 19, 2022

No one needs to tell you that projects cost money. But how much they’ll cost is an open question. The closer you can come to an accurate forecast of project costs, the more likely you’ll deliver a successful project. Rough order of magnitude (ROM) can help you better estimate project costs.

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ProjectManager.com

AUGUST 15, 2023

Project management is all about solving problems before they happen. That’s why you make a plan, schedule tasks and monitor the work to make sure you’re staying on track. But even the best planning isn’t going to avoid challenges throughout the project. If you can balance these three constraints you’ll deliver a quality project.

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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?

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Teamweek

MARCH 5, 2024

{ “@context”: “[link] “@type”: “Article”, “headline”: “Timely vs Toggl: A Definitive Comparison [March 2024]”, “alternativeHeadline”: “Toggl vs Timely: Which Should You Use? And there’s also a Manual Mode so you can manually add/edit time entries.

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Teamweek

MARCH 8, 2024

Toggl Track embodies a philosophy of time tracking for self-reflection and career growth while providing users with insights to increase profitability without micromanaging or monitoring employees. You have to download its Memory App to monitor web and app usage, then manually drag and drop “memories” to log entries in your timesheet.

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2024 Software Review Technical Review Monitoring 59

ProjectManager.com

JANUARY 10, 2024

PMOs can use project management software to review and decide on whether to accept, reject or defer the request. ProjectManager is award-winning project management software that estimates project costs and creates budgets to show the viability of the request. What Should Be Included in a Project Intake Form?

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ProjectManager.com

MARCH 12, 2024

Therefore, a project manager must use resource-tracking tools to monitor and control resource requirements. This will enhance the resource management plan and allocation of those resources as you can adjust to respond to changes in your project. This can be tools or software and heavy machinery.

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ProjectManager.com

JULY 26, 2023

We’ve talked a lot about what a project initiation document is and why it’s important, but we’ve yet to go into detail about what it includes. Here, we’ll outline the different sections of the project initiation document and what they do. Purpose: The reason for the project, whether that’s a new product, filling a market niche, etc.

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ProjectManager.com

AUGUST 15, 2023

Making accurate estimates of construction costs requires an understanding of job costing, knowing what a costing sheet is and what needs to be included in that costing sheet. We’ll go over all, plus explain when to use job costing and provide an example of job costing to make sure the definition is clear.

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Teamweek

NOVEMBER 13, 2023

It’s an affordable time tracker with lightweight analytics, invoicing, project, and team management, and employee surveillance features such as: “Force timer” (prevents manual clock-in), “Screenshots” (record user screens every 5 seconds when their timers are active), and “GPS tracking”. Supports report exports as PDF, CSV, or Excel.

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ProjectManager.com

MARCH 2, 2020

Project controls are a set of tools, processes and people skills that are used together to help project managers have the right information, at the right time, to make the right decision. This means saving the project and the organization time and money. Implementing Project Controls. Project Implementation.

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Teamweek

MARCH 22, 2024

What is the best project cost management software? Hubstaff: Employee monitoring and workforce management tool 6. Toggl Track Price : Starts at $10/month Toggl Track is a time tracking, reporting, and profitability solution that teams can use to monitor project budgets and analyze profitability.

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ProjectManager.com

MAY 12, 2021

T&M contracts are used when plans are not precise enough to use a fixed-price contract (because there is no definite price for the work.) Beyond T&M and fixed-price contracts, there is a third type of construction contract called a cost-reimbursable contract. Plan, monitor and report on your project.

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Rebel’s Guide to PM

APRIL 5, 2024

This article reviews and explains the 10 project management Knowledge Areas from the PMBOK® Guide -- Sixth Edition. Knowledge Areas: Definition What exactly are 'Knowledge Areas'? Cost Management Cost management is basically managing funding for project activities.

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ProjectManager.com

AUGUST 26, 2021

Making a budget lets you take account of as many construction costs as possible and helps you stay on schedule. Tracking those costs is a way project management software can help. ProjectManager is a cloud-based construction management software that plans, monitors and reports on your construction budget in real time.

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Teamweek

APRIL 22, 2024

By tracking time seamlessly with Toggl Track, architects can monitor how long they spend with a client on a project and cut down on admin work when it comes to billing. What’s missing Toggl Track doesn’t monitor employee activity, and it can’t collect client payments. TimeCamp Price : Starts at $3.99/month

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ProjectManager.com

SEPTEMBER 16, 2020

A project budget contains the financial details of your project, including the estimates of all the money you need to layout to lead a successful project, from resources to materials. Monitor project expenses with this Excel budget template. That’s where this project budget template comes in handy.

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ProjectManager.com

APRIL 29, 2022

Project Planning: Project management plan, work breakdown structure, project budget, project schedule, change management plan, scope management plan, risk management plan. Project Execution: Project status report, lessons learned template, timesheets, change requests, change orders. Project Budget.

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ProjectManager.com

APRIL 19, 2023

Lean construction is constantly evolving, which is why there’s no straightforward definition of the term. However, it’s different from construction project management in that it designs production systems that reduce wasting materials, time and effort while still getting the most value possible.

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Rebel’s Guide to PM

AUGUST 29, 2021

In this article we’ll look at common project risks so you can start filling up your risk log and making the right plans. The PMI definition of risk is: “an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.”. Project Budget Risks. We have the solution!

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Teamweek

APRIL 8, 2024

You can set billable rates by workspace, team member, project, or project member and monitor profitability. In Toggl Track, you can manage clients, projects, and task lists and track time spent on tasks. You can also set project time estimates and track estimated vs actual progress. Is Toggl Track right for you?

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ProjectManager.com

AUGUST 4, 2022

ProjectManager is project management software with the features you need to deliver your construction project successfully through every phase of its lifecycle. Having an accurate schedule is important, and schedule and project costs are closely linked. If you accelerate the schedule, costs will rise.

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nTask

DECEMBER 21, 2020

Firstly, a “project” is defined by the Project Management Body of Knowledge (PMBOK) Guide as “ A project is a temporary endeavor undertaken to create a unique… result.”. Project management has been defined by the same Project Management Body of Knowledge Guide. The Monitoring and Controlling Phase.

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Resource Guru

FEBRUARY 9, 2023

The project life cycle is a framework project managers use to help them plan and execute projects strategically and effectively to meet project goals. There are usually five phases of the project life cycle : initiation, planning, execution, monitoring, and closure.

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MPUG

APRIL 2, 2024

It involves defining the project scope and objectives, creating a detailed plan, and identifying the resources and schedule required to complete the project. PM is used in a variety of industries and can be applied to projects of different sizes and complexities. Why is Project Management Important?

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MPUG

FEBRUARY 27, 2022

Definitions. Let’s start with some definitions. A project’s baseline is a snapshot of the original plan. Its used to measure and compare your project’s progress against, as well as aiding in assessing project performance over time. These components are the road to successful project outcomes.

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Epicflow Blog

FEBRUARY 20, 2023

How to minimize downtime, and get the chance to increase a project’s profitability? One of the things that makes this possible is measuring and monitoring the resource utilization rate. How to ensure an optimal utilization rate from the initial project stages? It helps plan future projects. What is this indicator about?

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PM Basics

SEPTEMBER 8, 2022

That’s why in simple terms, Risk Management is your effort in identifying and tackling project risks. It gives the following definition of a risk: “An uncertain event or condition, that if it occurs, has a positive or negative effect on a project’s objective.” Process #7: Continuously Monitor Risks.

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Velociteach

SEPTEMBER 11, 2023

Large, complex projects will require more highly structured processes than smaller ones. Definitions Assumptions are things we know we do not know. For example, the projects must be delivered by X date. For example, IF the project costs more than planned, THEN there are multiple potential impacts.

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The IIL Blog

SEPTEMBER 13, 2023

Large, complex projects will require more highly structured processes than smaller ones. Definitions Assumptions are things we know we do not know. For example, the projects must be delivered by a certain date. For example, IF the project costs more than planned, THEN there are multiple potential impacts.

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ProProfs Project Management

MAY 16, 2019

AI has already begun revolutionizing various aspects of our lives such as online shopping, and it definitely has brought in a change for the better. When we talk specifically about IT project management, app development companies or DevOps teams are responsible for managing various software development projects.

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Techno-PM

SEPTEMBER 22, 2020

Procurement Management Procurement involves coordinating with suppliers to acquire (or lease) goods or services for the project. By definition, these relationships are contractual and as with anything in project management, the process begins with planning and incorporating the plan into a statement of work.

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