article thumbnail

Lean Construction Principles & Best Practices

ProjectManager.com

There’s more than one way to manage a construction project. From the world of manufacturing comes an approach called lean construction. But lean manufacturing and lean construction are two different things. Let’s explore lean construction, defining what it is and its key principles. What Is Lean Construction?

article thumbnail

What Is Lean Portfolio Management? A Quick Guide

ProjectManager.com

Having many projects to manage in a portfolio can be daunting. There are many ways to do this and one of which is lean portfolio management. Let’s first define lean portfolio management and then delve into how it works. This will give you an idea if it’s the right strategy to execute your portfolio management.

Lean 331
Insiders

Sign Up for our Newsletter

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

article thumbnail

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.

Estimate 352
article thumbnail

9 Steps to Managing Risk for Your Projects

LiquidPlanner

Risk and uncertainty are inherent parts of all project work, making project risk management an important topic for teams to address. When studies tell us that easily half of all IT projects run over budget and past deadline , we see how easily risk turns into real trouble for projects and their organizations.

article thumbnail

Kanban vs. Scrum: What’s the Difference?

ProjectManager.com

Kanban and scrum are agile project management methodologies that can be used for similar purposes, but each has its unique pros and cons. As a project manager, it’s important to understand the difference between kanban and scrum so you can determine the best approach for your team. What Is Kanban?

SCRUM 412
article thumbnail

How to Fix 5 Project Management Skills Gaps

Rebel’s Guide to PM

As a project manager, you are expected to have all-round skills encompassing the technical fields of project management like planning and scheduling, through to the interpersonal skills like communicating up and influencing others. Learn how to help your team manage risk so you can split the work between you.

Finance 319
article thumbnail

Production Capacity: Formula, Examples

ProjectManager.com

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. ProjectManager is award-winning project management software that helps manufacturers identify and map out resource usage.