article thumbnail

14 Common Project Risks (+ more)

Rebel’s Guide to PM

Risks matter. Stuff happens on projects, and if the worst happens, it’s better to know about it in advance. That’s the point of risk management: thinking about what might go wrong before it does, so you can put a plan together to deal with it if it does. What’s a risk again? It helps to think of risks in categories.

Risk 269
article thumbnail

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

Project Cost Management often puts people off. But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. Project cost over-runs are common. The governance considerations for project cost management.


Sign Up for our Newsletter

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

article thumbnail

Cost Estimation for Projects: How to Estimate Accurately

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. Projects bring risks, and risks bring unexpected costs. An Overview of Cost Estimation. Excluded costs. Project Cost Estimation Techniques.

Estimate 344
article thumbnail

10 Free Manufacturing Excel Templates

You can see the percentage complete of all tasks in your schedule, your team’s workload, the length of tasks and even project costs. This governing document also sets the pricing for the work contracted. Risk Register Template. Risk is what might happen within your project, whether it’s for the better or worse.

article thumbnail

Do NOT Resolve Project Risks for Good Career Growth


Having been a project manager for all of my working life and now a teacher of project management skills for more than a decade, I always tell my students to follow sound project management principles and to manage risks proactively. Proactive project risk management is integral part of project management.

Risk 86
article thumbnail

Net Operating Value - A New Way to Look at Project Costs

PM That Works

Then this idea goes through some cycles and an estimated budget gets placed on the project list for the coming year. When the project is kicked off, the budget is set to the estimated budget. Few organizations go through a true project costing and just artificially constrain themselves to the suggested budget.

article thumbnail

Project Budgeting: An Interview with Sol Benady

Rebel’s Guide to PM

Make sure the assumptions you are making are sound and you aren’t caught out partway through the project. Have a risk budget. One thing that’s important to have is a risk budget. There will be scope creep and things that happen during the project that are not expected. Explaining ‘Run Rate’. Asking for More Money.

Budget 296