Epicflow Blog

JULY 5, 2022

Estimation of project cost is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. However, the main challenge of this process is that it has to be performed under conditions of uncertainty – you can forecast only the approximate budget you’re going to spend on a project.

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Project Cost Estimate Process Budget 52

Productivity Land

JULY 4, 2023

Marketing studies will also help you get the first profit and increase your income in a matter of months. Flawless presentation, communication and debating skills, interpersonal qualities, and profound knowledge of the field are the exact aspects you will improve by studying marketing. appeared first on Productivity Land.

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Risk Management Risk Estimate Leadership 81

ProjectManager.com

MARCH 8, 2024

We’ll also note the difference between an RFI in construction and other construction project management documents before going into the construction RFI process, the different types of RFIs and more. The RFQ asks how a vendor or contractor should handle a specific aspect of a project, from cost estimation to work descriptions.

Construction 314

Construction Software Review Engineering Budget 314

ProjectManager.com

AUGUST 22, 2023

Project budgets are estimated by project managers and then approved by the project client or stakeholders. Risk management is a process to identify, manage and resolve these risks, whether it’s to take advantage of a positive one or mitigate a negative one. Leadership is not a technical skill, but it can be studied and taught.

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Certification Leadership Risk Management Budget 353

ProjectManager.com

SEPTEMBER 26, 2023

It researches and develops tools, processes, machines and equipment with systems that are integrated into the manufacturing facility. At a high level, manufacturing engineering is the process of turning raw materials into finished products in the most effective and efficient manner possible.

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Manufacturing Engineering Technical Review Software Review 338

ProjectManager.com

AUGUST 23, 2023

Many colleges offer a course of study in project management, but you can also study business management, engineering and other disciplines. Whatever path you choose, learning to use project management software is going to facilitate that process. You never know who might be involved in the hiring process.

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Manufacturing Construction Certification Engineering 287

Rebel’s Guide to PM

FEBRUARY 1, 2022

Below, I list the best agile books for your certification studies. Note that they aren’t exam study guides i.e. they are not designed to help you get through the syllabus. If you’re looking for those, check out my list of the best agile study guides. Pick one book to supplement your PMI-ACP studies. Short on time?

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PMI Certification Estimate Software Review 195

ProjectManager.com

JULY 5, 2022

It can be used for related planning, engineering, design, appraisal or feasibility study costs. For example, you’ll need a list of all the capital projects, equipment and major studies related to the projects. A financing plan will have to be created, estimating the overall cost of each project. Evaluation and Selection.

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Planning Finance Underperforming Technical Team Software Review 322

ProjectManager.com

JANUARY 27, 2022

When it comes to budgeting, hard costs are easier to estimate. As you can imagine, these intangible costs will prove far more difficult for you to estimate as you build a budget for your project. It doesn’t mean these soft costs are impossible to estimate and track—but they are definitely moving targets.

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Construction Certification Software Review Project Life Cycle 308

ProjectManager.com

SEPTEMBER 17, 2021

One of the most important is the inventory—the materials and components needed for the manufacturing process. The more efficiently a company handles this process, the more profit they will find. When used properly, an MRP system improves efficiency through accurate estimation of required materials and just-in-time delivery.

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Planning Manufacturing Estimate Monitoring 297

ProjectManager.com

FEBRUARY 10, 2023

These resources must be purchased by your organization, and the procurement process must be carefully planned and executed. 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.

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Estimate Manufacturing Logistics Software Review 316

ProjectManager.com

DECEMBER 9, 2019

By planning for risks, you begin the process of knowing how to identify, monitor and close out risks when they show up in your project. Part of that process is risk analysis. Risk analysis is the process that figures out how likely that a risk will arise in a project. It’s a technique that helps you to mitigate risk.

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Risk Risk Management Estimate Project Life Cycle 450

Rebel’s Guide to PM

MARCH 11, 2021

Project management is a human process,” he says, “It’s unique to the individual and the client, in terms of how good or how mature they are in regards to project delivery.”. When you start thinking of it as a quality data challenge, it instantly relates the people and processes, maturity and capability. Lloyd seems to feel the same.

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Artificial Inteligence 2030 Technical Review Underperforming Technical Team 505

Teamweek

JULY 29, 2022

Inaccurate time estimation is the cause of 25% of failed projects. Learning how to estimate time for a project is tricky, but critical to its success. In this guide we’ll go over: What is time estimating in project management? Why is estimating time for tasks important? What is time estimating in project management?

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Estimate Technical Review Underperforming Technical Team Software Review 52

Rebel’s Guide to PM

APRIL 5, 2023

The case study is realistic and well-put together, you will definitely find it useful if you have not worked on a project end-to-end before. There is important case study information and ground work that you cannot skip. What if no one else was studying at that time? Here are some tips for acing your peer-reviewed assignments.

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Certification Executing Risk Management Agile 429

iZenBridge

NOVEMBER 26, 2019

As a Project Manager, doing project ESTIMATION is a key responsibility but how often are we able to deliver the project under budgeted cost and time? What will help in this scenario would be the right understanding of estimation tools and techniques. To start with, let’s understand Analogous Estimation, what exactly does it mean?

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Estimate Certification Initiating Risk Management 40

ProjectManager.com

NOVEMBER 23, 2023

Then we can go through the capital budgeting techniques and the steps to a capital budgeting process. Capital budgeting is a process by which investments in large-scale projects are analyzed, evaluated and prioritized. Capital Budgeting Process There are various ways a company will execute the capital budgeting process.

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Budget Technical Review Software Review Executing 340

Herding Cats

JULY 13, 2017

There are several studies on how software development can be improved by applying various process. Some studies have very large data sets, with analysis of each process and the differences between the processes. Were the most relevant, measurable dimensions of the target process specified? Related articles.

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Process Estimate Influencer Software Developers 31

ProjectManager.com

NOVEMBER 29, 2023

IT financial management is made up of the processes and tools that are needed to manage and analyze IT costs. There’s also the communication of the value of these processes and tools to IT leaders in order to prove their value to the business. What Is IT Financial Management (ITFM)? Here are a few of them.

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Infrastructure Finance Executing Governance 317

Kiron Bondale

MARCH 27, 2023

In both of these books, he provides compelling arguments supported by a number of case studies taken from different domains to show that while some might envision the future as becoming more and more digital, we will continue to cherish and yearn for analog experiences. What I do expect is that A.I.

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ChatGPT 2022 Governance Government 177

Rebel’s Guide to PM

SEPTEMBER 14, 2021

By McKinsey & Company’s estimates, this equates to a potential of three months of learning loss in math and one-in-a-half months of learning loss in reading. This process is the nature of what project management professionals do every day, and these steps can seamlessly translate to students’ coursework at every stage of education.

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PMI 2020 Executing Initiating 397

Inloox

JANUARY 14, 2021

Project management in construction describes the planning and work process in order to produce or modify a construction object. The larger and more complex a project is, the more participants and interrelationships are involved and the more complicated the organization and planning of the process becomes. Let's start with the basics.

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Construction Sustainability Finance 2015 164

Wrike

JUNE 11, 2023

Process modeling is a crucial aspect of project management. In this article, we will explore the basics of process modeling, the steps to create a successful process model, the tools and techniques that can aid in effective process modeling, and showcase case studies where process modeling has proven to be invaluable.

Process 36

Process Software Review Manufacturing Software Developers 36

Wrike

JUNE 11, 2023

By leveraging SOP templates, project teams can streamline their processes, reduce errors, and enhance overall project outcomes. This consistency is crucial for achieving quality, accuracy, and productivity in project processes. Consistency in project documentation and processes also fosters effective collaboration between team members.

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Process Software Review Construction Technical Review 36

LiquidPlanner

SEPTEMBER 15, 2016

A New Approach, Process and Work Management Tool. In just two months, the Rex team went from fielding daily calls from customers wondering when their order would ship, to providing a 90 percent accurate ship date estimate along with an initial price quote. “We – Kevin Kohls, Director of Continuous Improvement, Rex Materials. “We

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Manufacturing Critical Chain 2015 Initiating 74

LiquidPlanner

FEBRUARY 14, 2022

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. When teams have a good project risk management process in place, then you can identify and deal with all the project’s risks in an appropriate and thorough manner.

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Risk Management Risk 2012 Prince2 167

The IIL Blog

OCTOBER 17, 2023

Bottom-up Estimating A project estimation technique that leverages tactical-level team members/subject matter experts (SMEs) to break down tasks into smaller components to create a more accurate estimate. process, policy, practices, perceptions, etc.) Also known as continuous process improvement.

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Development Team Review Project Life Cycle Underperforming Technical Team Estimate 148

Rebel’s Guide to PM

MAY 25, 2022

We do it as children, we do it as teenagers (often terrifying our parents in the process) and we do it as adults. Strengths-based project management is an approach to project management that focuses on the people rather than the process. In fact, the approach that has the biggest impact is to model the behavior you are looking for.

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Underperforming Technical Team 2020 2001 PMI 394

Herding Cats

OCTOBER 5, 2018

There is a discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. To be informed how to estimate in this broad range of domains, problems, and impacts — education, experience, and skill are needed. illities are a waste.

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Estimate Engineering Software Engineering Software Developers 40

Scrum.org

JUNE 26, 2023

Learn more about useless agile metrics, from individual velocity to estimation accuracy to utilization rates. ? Comparing velocities may lead to unhealthy competition and encourage teams to inflate estimates, also known as cooking the agile books. Shall I notify you about articles like this one?

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Agile Software Review 2021 Estimate 186

ProjectManager.com

OCTOBER 15, 2020

You can then use that data to evaluate your decisions with a process called cost benefit analysis (CBA). It begins with a list, as so many processes do. The Process of Cost Benefit Analysis. But the concept of CBA as we know it dates to Jules Dupuit, a French engineer, who outlined the process in an article in 1848.

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Risk Management Consulting Risk Budget 516

ProjectManager.com

AUGUST 10, 2022

A successful project starts with a successful estimate. All of these considerations are part of project estimation techniques. Estimation techniques are helpful for making decisions on the viability of your project. What Are Project Estimation Techniques?

Estimate 346

Estimate Software Review Risk Management Risk 346

ProjectManager.com

JANUARY 26, 2023

If you’re managing projects, you’ll need the right tools to make the process more effective and efficient. For example, you’ll need to produce important project documentation at each step in the process. Each of these phases is necessary for the effective delivery of the project.

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Project Life Cycle Monitoring Executing Controlling 206

LiquidPlanner

FEBRUARY 1, 2023

Are you thinking about introducing agile processes to your project management methodology? You’ve a few case studies, you’ve perhaps even seen agile working effectively at other companies. Robust agile estimation methods can improve quality by 250%. But now it’s time to dive into the details and decide.

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Agile Cadence Estimate Risk Management 174

Herding Cats

OCTOBER 1, 2016

DP6Jw is an overview of this process. To control this process using feedback and corrective actions ‒ in the same way, your closed loop controller for your air conditioner or heater does - a sampling rate is determined based on the rate of change of the underlying processes. Stochastic process control is the field of study.

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Closing Estimate Controlling Process 28

LiquidPlanner

JANUARY 26, 2022

In some cases, the entire project might be following a process where design, scope, cost, and time scales were fixed at the very beginning. Or it could be a first-time project where estimating how long each phase will really take is hard work. Estimate work and share the schedule. Inflexible Processes.

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Manufacturing Technical Review Estimate Project Life Cycle 155

ProjectManager.com

APRIL 13, 2022

Project selection is the process of evaluating projects to ensure that they align with your strategic objectives and deliver maximum performance. This process is done in what is called a feasibility study, which is part of the project initiation stage. The Project Selection Process. What is Project Selection?

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Software Review Project Life Cycle Manufacturing Executing 293