Remove Estimate Remove Finance Remove Process Remove Strategy
article thumbnail

Project Management Processes & Phases

ProjectManager.com

If so, it might be time to start implementing proven project management processes and phases at your organization in order to bring your company’s workflow under control. The project plan will include what resources are needed, financing and materials. Cost: Estimate the costs involved across the project and formulate a budget.

Process 399
article thumbnail

What Is a Capital Improvement Plan & How to Create One

ProjectManager.com

The capital improvement plan is used to coordinate between community planning and fiscal management to determine the location, timing and financing of the capital improvement. A supplement to the organization’s larger strategic plan, the capital improvement plan must align with that strategy. Related: Free Estimate Template for Excel.

Planning 328
Insiders

Sign Up for our Newsletter

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

article thumbnail

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

ProjectManager.com

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. You can’t manage your IT finances without an IT budget.

Budget 340
article thumbnail

Tactical Planning: Creating a Tactical Plan for Your Business

ProjectManager.com

Tactical planning describes the action steps, strategies and projects that are deployed by the different departments of an organization, such as sales, marketing, product development and others to contribute to the accomplishment of strategic goals. What Is Tactical Planning? Operational planning is done by the lower layer of management.

Planning 345
article thumbnail

Operations Management: Key Functions, Roles and Skills

ProjectManager.com

Operations management (OM) is the process of administration of business operations and/or production management in order to achieve specific goals such as increased productivity and higher profitability. Company resources, such as staffing, materials, equipment and technology, are all part of the optimization process of operations management.

article thumbnail

What Is a Cost Breakdown Structure (CBS) In Project Management?

ProjectManager.com

Manufacturing a product or constructing a building is a complicated process, which in turn makes determining the price for that product equally difficult to discern. Cost breakdown analysis is the process of identifying what will determine the price of a product, service or any final project deliverable.

article thumbnail

Capital Budgeting: Definitions, Steps & Techniques

ProjectManager.com

In finance, capital is money that a company has, such as earnings or credit, which it can spend or invest on assets. Then we can go through the capital budgeting techniques and the steps to a capital budgeting process. Then we can go through the capital budgeting techniques and the steps to a capital budgeting process.

Budget 341