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Cost Estimation for Projects: How to Estimate Accurately

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 342
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What Is a Capital Improvement Plan & How to Create One

It’s not uncommon for organizations to have more plans than they have funds. A capital improvement plan can guide an organization when it’s trying to figure out which large projects or purchases in which they should invest. But what exactly is a capital improvement plan? What Is a Capital Improvement Plan?

Planning 363

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How to do Rolling Wave Planning

Rebel’s Guide to PM

Rolling wave planning, also known as progressive elaboration, is an iterative planning technique to use when it’s difficult (or pointless) to schedule too far ahead. The APM Planning, Scheduling, Monitoring and Control Guide (2015) defines rolling wave planning as ‘the planning density that is achieved at different moments in time.

Planning 338
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General Conditions in Construction: Definitions & Best Practices

We’ll go further, explaining how to estimate general condition costs and how general conditions compare to construction specifications and general requirements. Project management software can help ensure that all general conditions in your commercial construction project are included in the project plan.

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The Budgeting Process in Business & Project Management

A budget is an estimate of the revenue and expenses that occur over a period of time. Another way to look at a budget is as a financial plan. It plans your spending over a specific timeframe. This is why there are corporate budgets, project budgets and government-created budgets to support various services.

Budget 279
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What Is Lean Portfolio Management? A Quick Guide

You need to strategize and plan your resource allocation to ensure that every project has what it needs when it needs it. Lean portfolio management is a process by which strategy is aligned with execution using a lean approach and agile portfolio operations and governance. Use Continuous, Adaptive Planning with Roadmaps.

Lean 381
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Beware of the Unintended Consequences of Incentive Plans.

In industries ranging from financial services to consulting and defense, we can find countless examples of how organizations employed incentive plans that produced behavior not aligned to the organization's desired strategic goals. Unfortunately, these types of incentive plans can cause numerous unintended consequences.

Planning 195