Document, Estimate and Monitoring - Project Management Update

Project Documentation: 10 Essential Project Documents

ProjectManager.com

APRIL 29, 2022

Project managers know the importance of having project documentation. Project documents must be accurate and constantly updated to keep current with the project. Creating and managing project documentation throughout the project life cycle is critical for project success, but where to start? What Is Project Documentation?

Project Life Cycle

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Project Monitoring and Control: Tools & Steps

ProjectManager.com

JUNE 28, 2023

All are important, especially project monitoring. Project monitoring and control is how a project manager ensures the plan they’re implementing with the project team goes off without a hitch. Project controlling involves a lot of steps to thoroughly monitor the project schedule, resources and costs.

Monitoring

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How to Create a Project Initiation Document (Template Included)

ProjectManager.com

JULY 26, 2023

That’s why a project initiation document (PID) is so important. To understand why, let’s define the term and compare it to other project documentation. We’ll explore its importance and how to create a project initiation document, including all its many components. What Is a Project Initiation Document (PID)?

Initiating

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Parametric Estimating In Project Management

ProjectManager.com

SEPTEMBER 9, 2022

Every project, regardless of the industry, uses a methodology to estimate time and cost to better plan projects. In the life sciences, engineering and construction industries, the method often used is called parametric estimating. Parametric estimating is often used as it’s reliable. What Is Parametric Estimating?

Estimate

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Rough Order of Magnitude (ROM): Understanding ROM Estimates

ProjectManager.com

OCTOBER 19, 2022

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.

Estimate

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Making a Construction Estimate: 5 Tips for Better Outcomes

ProjectManager.com

APRIL 27, 2021

It requires a construction estimate to ensure the most accurate findings. Create accurate estimates and keep your project under budget with ProjectManager.com’s Gantt charts. What Is a Construction Estimate? A construction estimate is used to forecast how much it will cost to build the structure in your project plan.

Construction

Construction Estimate Budget Monitoring

Ask a PM: How to Get Proper Estimates

LiquidPlanner

NOVEMBER 1, 2018

How do you deal with a team that refuses to estimate how long tasks will take? Estimating can be done in several solid ways, and frankly, it sounds as if your colleagues don’t know how to estimate properly or are scared to give you the timescales that pop into their heads. It is difficult to estimate when the task is too big.

Estimate

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Cost Estimation for Projects: How to Estimate Accurately

ProjectManager.com

AUGUST 21, 2019

Good cost estimation is essential for keeping a project under budget. Many costs can appear over the life cycle of a project, and an accurate estimation method can be the difference between a successful plan and a failed one. Estimation, however, is easier said than done. An Overview of Cost Estimation.

Estimate

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Best Construction Estimating Software of 2022

ProjectManager.com

MAY 3, 2022

Construction estimating is one of the most important parts of landing a construction project. That’s why you need construction estimating software to make your forecast as accurate as possible. Making the decision to get construction estimating software is the easy part. What Is Construction Estimating?

Construction

Construction Estimate 2022 Software Review

What Is a Sales Order? (Example & Template Included)

ProjectManager.com

APRIL 17, 2024

The transaction between buyer and seller is documented at every stage, and this paperwork serves a purpose. One of those business documents is a sales order. To distinguish between other transactional documents, we’ll define a sales invoice and purchase order and how they differ from sales orders. What Is a Sales Order?

Manufacturing

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The Construction Resource Management Process Explained

ProjectManager.com

JANUARY 9, 2024

This is the responsibility of construction managers or project managers, who monitor available resources, allocate and reallocate those resources based on the needs of the project and track and optimize their use. required to execute the project and make as accurate an estimate as possible for each and add them up.

Construction

Construction Process Estimate Monitoring

Resource Requirements in Project Management: A Quick Guide

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. Using the project teams to mine their knowledge of the work and historical data can also play a role in estimating the project scope. What Are Resource Requirements in Project Management?

Software Review

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How to Create a Timeline in Excel (Free Templates Included)

ProjectManager.com

APRIL 16, 2024

Once you create this Excel project timeline, you can use this template to estimate future project timelines using project tasks and due dates. Resource Plan Template Creating a timeline for a project or business requires estimating the time it will take to complete tasks and achieve objectives.

Software Review

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7 Budget Templates for Business & Project Budgeting

ProjectManager.com

DECEMBER 13, 2023

It’s a document that captures the total costs required to complete a project over a specified timeframe. 7 Budgeting Templates for Business and Project Budgeting Below are seven budget templates that you can use for estimating your project’s costs. The project budget is developed during the planning phase of a project.

Budget

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Schedule of Values in Construction (Example & Template Included)

ProjectManager.com

DECEMBER 27, 2023

But what is a schedule of values and why is it such an essential construction project management document? The schedule of values (SOV) is a construction document that’s part of the payment process when working on a project. We’ll answer these questions, explain when the schedule of values is used and the benefits of using one.

Construction

Construction Estimate Budget Monitoring

Planning a Budget for a Proposal in 5 Easy Steps (+ Example)

Rebel’s Guide to PM

MARCH 29, 2024

In a nutshell: the evaluator needs to be able to read a one-to-two-page document and feel reassured enough to give you the £600k or whatever it is that you need. The Gantt chart is one of the documents every project needs — but for now, at this point in the work, you won’t need to complete every one of those in detail.

Budget

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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

AUGUST 29, 2023

Baseline A baseline is an estimate of the project’s scope, schedule and costs that is created during the planning stage. Business Plan A formal document that clearly defines the business goals of a project and how to attain them. It is also used to capture requests for modifying the product and ensuring delivery with scope.

Software Review

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12 Free Project Planning Templates for Excel and Word

ProjectManager.com

FEBRUARY 27, 2024

Using project planning templates can help you schedule tasks, estimate budgets and allocate resources. They provide you with a consistent project documentation process, which can then be archived and retrieved to inform future planning. Project Charter Template A project charter is an important project planning document.

Planning

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Google Sheets Budget Template: Track Business Costs Online

ProjectManager.com

FEBRUARY 6, 2024

A budget is a document that’s mainly used to break down the costs of executing a project or running the operations of a business for a period of time and define a maximum spending limit for the procurement of resources. Then you can use ProjectManager to track work and monitor costs as they occur.

Budget

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10 Key Construction Job Titles: Overview & Salary

ProjectManager.com

NOVEMBER 2, 2023

They monitor work to ensure that it is being done on time and within budget. The construction foreman will also monitor the attendance of the construction crew, allocating general and daily responsibilities. They will assess the resources required for construction and estimate their costs to help define the project’s budget.

Construction

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The 5 Phases of the Construction Process (Templates Included)

ProjectManager.com

OCTOBER 17, 2023

Construction phases have different names and require different documentation to begin with. Within this phase are three distinct steps: programming and feasibility, schematic design and contract documents. Once these decisions are made, a project initiation document is created. The last step is the construction documentation.

Construction

Construction Process Project Life Cycle Software Review

Project Intake Process: Prioritizing Project Requests & Proposals

ProjectManager.com

JANUARY 10, 2024

ProjectManager is award-winning project management software that estimates project costs and creates budgets to show the viability of the request. ProjectManager’s Gantt charts help you estimate costs and create budgets. Expected project benefits: Forecast the return on investment or estimated revenue expected.

Process

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Organizational Resources Basics: Managing Company Resources

ProjectManager.com

DECEMBER 29, 2023

Forecast the Future Resource Requirements of Your Organization To achieve your strategic goals you need to have an accurate estimation of what you need to get there. Manage Your Team’s Workload As you execute the project or projects under the care of the organization you must monitor not just progress but also performance.

Manufacturing

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Calculating the Production Budget (Formula & Example Included)

ProjectManager.com

NOVEMBER 3, 2023

A production budget is a document that calculates that number of units of a product will be manufactured to meet the estimated sales demand. It is an estimate of the amount of units the manufacturer needs to see over a period of time. What Is a Production Budget? Another way to figure this out is by following the formula below.

Budget

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How to Create a Project Timeline In Excel (Free Template Included)

ProjectManager.com

FEBRUARY 7, 2024

A project timeline is a project scheduling tool that’s used to estimate the total duration of a project from start to end by mapping tasks, deliverables and milestones in chronological order. Simply enter your project information and estimate your project timeline in minutes.

Software Review

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Material Takeoff (MTO) in Construction: A Quick How-to Guide

ProjectManager.com

JULY 13, 2022

Material takeoff is part of a detailed and effective construction cost estimate. While a material takeoff is part of a construction estimate, it’s not the entire estimate. Not only can you create accurate estimates on our Gantt chart, but you can schedule and manage the entire project. Analyze Construction Documents.

Construction

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How to Manage Your Project Pipeline With Software

ProjectManager.com

JANUARY 16, 2024

Work in Progress As the project moves into the execution, monitoring and controlling phase, you’ll need to keep track of the progress and performance of your team to make sure that the project is on schedule and staying within the budget. You’ll have made an accurate estimate of the project budget and now you have to keep to it.

Software Review

Software Review Software PMO Monitoring

Notion Gantt Chart: Key Features, Pros and Cons

ProjectManager.com

MARCH 28, 2024

No matter where you’re working, it’s easy to share files and documents to keep your project moving. Even though Notion Gantt charts have some drawbacks that make them a limited tool for project management, they can still be used for many purposes, like these examples. Try it free for 30 days.

Software Review

Software Review Estimate Monitoring Project Cost

What Is Design Development (DD) In Architecture?

ProjectManager.com

JULY 28, 2022

There are five phases to the architecture design process: schematic design, design development, construction documents, bidding and construction administration. There’s still give and take between the designer and the architect and costs are estimated but changes could still occur. Design Development Documents.

Construction

Construction Estimate Engineering Executing

How to Manage Project Cash Flow

ProjectManager.com

JANUARY 25, 2024

ProjectManager is award-winning project management software that can monitor resource utilization with real-time dashboards. Estimate All Project Costs and Cash Outflows Project costs and cash outflows in projects are the money that’s leaving the project. Project management software can help with that.

Construction

Construction Project Cost Budget Monitoring

Project Procurement Management: A Quick Guide

ProjectManager.com

FEBRUARY 10, 2023

ProjectManager is ideal to keep track of your production plans so you can better estimate when you’ll need to purchase equipment, materials, parts or anything needed for your projects. Request for Information (RFI) This document is used for a formal information-gathering process. What Is Project Procurement Management?

Estimate

Estimate Manufacturing Logistics Software Review

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

ProjectManager.com

NOVEMBER 30, 2023

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. That spending can come from a range of sources.

Budget

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Project Management Basics: Definitions, Methods and Tools

ProjectManager.com

MARCH 31, 2023

Deliverables can be both the result of the project itself, but also the results of the process of the project, such as the project plan , reports or other documents. Monitoring & Controlling: To ensure the project is proceeding as planned, you need to set up mechanisms for monitoring progress. What Is a Project Manager?

Project Life Cycle

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Project monitoring and control: Complete guide (+ checklist)

Resource Guru

APRIL 13, 2023

Monitoring and controlling a project is an essential part of any successful project process. So come with us as we go down the rabbit hole of monitoring and controlling, and show you just how important it really is. In this article, we’ll cover: What is monitoring and controlling in project management?

Monitoring

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Top 10 Reasons for Project Failure

ProjectManager.com

AUGUST 22, 2023

Create a Solid Project Plan & Project Documentation The structure of a project plan might vary from one project to another, but there are certain project documents that should be part of your project plan to help you and your team avoid project failure. Project Budget Template A project budget estimates all your costs.

Estimate

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How to Create a Strategic Roadmap for Your Organization

ProjectManager.com

DECEMBER 21, 2023

Using a visual tool like a strategy roadmap is often more effective than documents and meetings in getting the message across. It’ll help to monitor progress and manage expectations. Then estimate the costs for these resources to fund the strategy roadmap. Here are some other benefits.

Software Review

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How to Write a Project Summary (Free Template Included)

ProjectManager.com

FEBRUARY 7, 2023

A project summary is a document or part of a larger document that’s comprehensive but concise in providing an overview of the proposed project, including key details. It’s good to have all that documentation in project management software so you can easily turn the project summary into a project plan.

Budget

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Measuring the Project Management Maturity of Your Organization

ProjectManager.com

JANUARY 23, 2024

Project scope management is the process of identifying all project documents, objectives, goals, deliverables, deadlines and budgets, which is done in the planning stage of a project. It does this through resource planning, cost estimating , cost budgeting and cost control.

Underperforming Technical Team

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Create & Manage a Project Budget Using Software

ProjectManager.com

MARCH 21, 2022

You have the tools to build an accurate budget and set a baseline to monitor project costs and resource rates with our real-time dashboard. ProjectManager has real-time dashboards to monitor project costs.— A project budget is how project managers estimate the cost of completing a project. Estimate All Costs. Learn More!

Budget

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How to Build and Implement a Project Strategy

ProjectManager.com

MARCH 14, 2024

Estimate Resources Resources are the people, equipment and materials you need to complete the project. To ensure you have what you need when you need it and those costs align with your budget, estimate the resources necessary to complete the project. This will inform your schedule and budget. This will inform your schedule and budget.

Budget

Budget PMO Defining Estimate

9 Types of Artifacts in Project Management

Rebel’s Guide to PM

MARCH 18, 2021

In this article we’ll look at the types of artifacts in project management, typical documents for each type. There’s also a checklist of project artifacts by phase at the end, which you can use as an aide-memoire for creating your own documentation. For example: a project management artifact is the project closure document.

Logistics

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What Is Preconstruction? Activities, Checklist & More

ProjectManager.com

JULY 12, 2022

This phase also includes planning and scheduling the scope and cost estimation by analyzing the job’s needs. Our interactive Gantt chart helps you estimate costs, plan resources and organize tasks on a timeline. ProjectManager’s Gantt charts help you estimate the schedule and budget for construction projects. Bidding Process.

Software Review

Software Review Construction Estimate Budget

Bottom-Up vs. Top-Down Budgeting Approaches

ProjectManager.com

JANUARY 4, 2024

Executives will appreciate that bottom-up budgeting leads to more accurate estimates throughout the organization. For example, while you might get more accurate estimates, you’ll find that you’re spending more. You’ll also need to estimate those costs as accurately as possible to create a budget for the department.

Budget

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Project Baseline: A Starting Point to Monitor Your Project Performance

Epicflow Blog

AUGUST 10, 2021

All of them must be approved by key stakeholders and monitored regularly to ensure that the project is kept on track: problems with one of the types can affect the other ones or even the project outcome if no necessary actions are taken. Therefore, this knowledge can improve planning and estimates of future projects.

Monitoring

Monitoring Underperforming Technical Team Software Review Budget

Project Documentation: 10 Essential Project Documents

Project Monitoring and Control: Tools & Steps

Trending Sources

How to Create a Project Initiation Document (Template Included)

Parametric Estimating In Project Management

Rough Order of Magnitude (ROM): Understanding ROM Estimates

Making a Construction Estimate: 5 Tips for Better Outcomes

Ask a PM: How to Get Proper Estimates

Cost Estimation for Projects: How to Estimate Accurately

Best Construction Estimating Software of 2022

What Is a Sales Order? (Example & Template Included)

The Construction Resource Management Process Explained

Resource Requirements in Project Management: A Quick Guide

How to Create a Timeline in Excel (Free Templates Included)

7 Budget Templates for Business & Project Budgeting

Schedule of Values in Construction (Example & Template Included)

Planning a Budget for a Proposal in 5 Easy Steps (+ Example)

100+ Project Management Terms: PM Terminology Explained

12 Free Project Planning Templates for Excel and Word

Google Sheets Budget Template: Track Business Costs Online

10 Key Construction Job Titles: Overview & Salary

The 5 Phases of the Construction Process (Templates Included)

Project Intake Process: Prioritizing Project Requests & Proposals

Organizational Resources Basics: Managing Company Resources

Calculating the Production Budget (Formula & Example Included)

How to Create a Project Timeline In Excel (Free Template Included)

Material Takeoff (MTO) in Construction: A Quick How-to Guide

How to Manage Your Project Pipeline With Software

Notion Gantt Chart: Key Features, Pros and Cons

What Is Design Development (DD) In Architecture?

How to Manage Project Cash Flow

Project Procurement Management: A Quick Guide

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

Project Management Basics: Definitions, Methods and Tools

Project monitoring and control: Complete guide (+ checklist)

Top 10 Reasons for Project Failure

How to Create a Strategic Roadmap for Your Organization

How to Write a Project Summary (Free Template Included)

Measuring the Project Management Maturity of Your Organization

Create & Manage a Project Budget Using Software

How to Build and Implement a Project Strategy

9 Types of Artifacts in Project Management

What Is Preconstruction? Activities, Checklist & More

Bottom-Up vs. Top-Down Budgeting Approaches

Project Baseline: A Starting Point to Monitor Your Project Performance

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