Remove Governance Remove Influencer Remove Monitoring Remove Project Cost
article thumbnail

Organizational Process Assets: Definitions, Examples & Templates

ProjectManager.com

Officially defined by the Project Management Institute’s Project Management Body of Knowledge (PMI’s PMBOK) as “the plans, processes, policies, procedures and knowledge bases specific to and used by the performing organization,” operational process assets influence the management of a project.

Process 362
article thumbnail

Understanding the 8 Functions Associated with Project Management

Project Pulse Journal

Provide Resources and Direction Allocate resources effectively to support operations, tasks, and activities throughout the project phases and achieve targets for project costs and the whole project scope. Maintain Governance Establish policies and procedures to ensure compliance and monitor adherence to frameworks.

Insiders

Sign Up for our Newsletter

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

article thumbnail

14 Common Project Risks (+ more)

Rebel’s Guide to PM

As such, you may have a bit more influence on these if appropriate actions are taken early. Once common risk is lack of support from a key project sponsor. As the excitement of a project fades, you might see sponsors stop attending meetings, not making key decisions, or not showing much interest in the project’s success.

Risk 326
article thumbnail

What is A System for Value Delivery in Project Management

Project Pulse Journal

You will confidently align projects with organizational objectives, optimize resource utilization, and foster stakeholder engagement to deliver tangible value at every stage of the project lifecycle. Organizations can optimize project performance and outcomes by integrating these functions into a cohesive framework.

article thumbnail

125 Project Management Buzzwords

The IIL Blog

Continuous Improvement The ongoing effort to improve a project process, product, or service to achieve better results. Cost Estimation The process of estimating project costs is done by leveraging historical data, expert judgment, or quantitative models. Also known as continuous process improvement.

article thumbnail

Project Manager Roles and Responsibilities: What does a PM Really Do?

Project Bliss

Monitoring and Controlling the project plan. You’ll need to continually make sure the project is on-track and deliverables are met. Monitor project progress by frequently communicating with the team and those doing the work. Completing rework due to defects and poor quality increased the project costs.

article thumbnail

Compendium of Works to Increase Probability of Project Success

Herding Cats

Cost, Schedule, and Technical Performance Management (#CSTPM). Governance (#Governance). Six Business System Rule - defines the assessment of the integrated business systems for Federal procurement and their integrity in providing information to the Government contracting office. . Product Development (#ProdDev).