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Risk Mitigation in Project Management

ProjectManager.com

Risk is something every leader knows well. We all need to become comfortable with some risks. We are never going to eliminate all risks. What Is Risk Mitigation? It involves a process that we’ll explore in a moment but basically addresses the top risks in order to fully protect the project. Learn more.

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Workload Analysis: Steps, Examples & Tools

ProjectManager.com

Workload analysis is how project managers figure out how many team members they will need to properly execute a project. Workload tracking helps project managers reallocate team members as needed to serve the project and not overburden any one member of the project team. What Is Workload Analysis?

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Schedule of Values in Construction (Example & Template Included)

ProjectManager.com

It can be used to communicate what’s needed in the project, the costs associated with the activities and the management of payments. But what is a schedule of values and why is it such an essential construction project management document? ProjectManager’s Gantt charts manage your human and nonhuman resources.

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Industrial Construction: Examples of Industrial Projects

ProjectManager.com

For example, commercial construction can be classified into three subcategories of retail, office, multifamily and industrial construction. To further illustrate what industrial construction is, we’ll offer five examples and some of the challenges inherent in the construction sector. What Is Industrial Construction?

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Rough Order of Magnitude (ROM): Understanding ROM Estimates

ProjectManager.com

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.

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Production Capacity: Formula, Examples

ProjectManager.com

Then we’ll explain how to measure production capacity and provide a couple of examples to better illustrate it. In order to take advantage of production capacity’s help with making sound financial plans and accurately forecasting business growth, you’ll need project management software. What Is Production Capacity? Here are two.

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Estimate at Completion: A Complete Guide + Template

Rebel’s Guide to PM

There is a project management formula that will help answer those questions. In this article, I’ll explain what Estimate at Completion is for project managers, how to use it (because there are 4 different ways) and give you examples. What is EAC in project management? What is the formula for estimate at completion?

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