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Project Documentation: 10 Essential Project Documents

ProjectManager.com

Project managers know the importance of having project documentation. Project documents must be accurate and constantly updated to keep current with the project. Creating and managing project documentation throughout the project life cycle is critical for project success, but where to start?

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What is ROM and how to calculate it (with example)

Rebel’s Guide to PM

A rough order of magnitude estimate is used to give you a very high level view of potential project costs. Ideally, you’d be able to provide a definitive estimate, carefully created from loads of input from subject matter experts and plenty of research on past projects and their budgets. What is a ROM estimate?

Estimate 285
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Rough Order of Magnitude (ROM) Estimate and How to Calculate It (with example)

Rebel’s Guide to PM

A rough order of magnitude estimate is used to give you a very high level view of potential project costs. Ideally, you’d be able to provide a definitive estimate, carefully created from loads of input from subject matter experts and plenty of research on past projects and their budgets. What is a ROM estimate used for?

Estimate 459
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Construction Cost Management: Managing Construction Costs

ProjectManager.com

For general contractors, this keeps projects from overspending and chewing away at their bottom line. Effective construction cost management ensures that the spending throughout the project life cycle is on track. Every project phase is impacted by construction cost management.

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12 Free Project Planning Templates for Excel and Word

ProjectManager.com

It also explains the reason for the project, including how the project plan and project team will be structured to meet the goals of the project. Using our free project charter template for Word will define the project vision and scope for everyone involved. Project Budget Template All projects cost money.

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Project Selection: Use These 8 Selection Methods for Better Strategic Results

ProjectManager.com

However, it doesn’t consider the time value of money nor benefits accrued after the payback period or risk inherent in the project. Net Present Value. Net present value is the difference between the current value of cash inflow and the current value of cash outflow in the project. Opportunity Cost.

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Hard Costs vs Soft Costs in Construction: Definitions & Examples

ProjectManager.com

Once you have accurate accounting for your construction project budget in place, you’ll need to track those expenses as you move through the project life cycle. This is the only way to make sure that you’re not overspending either hard costs or soft costs. Track Costs and Time on Timesheets.