Direct Costs vs Indirect Costs in Project Management

Deep Fried Brain

Learn about the difference between direct costs and indirect costs in project management with detailed examples and explanation. PMP Study Notes Project Cost Estimates

2017 40

How to Keep Your Projects Financially Fit

Project Risk Coach

Keep Your Projects Financially Fit. How do projects fall below budget?” Let’s look for ways to monitor and control our cost more intentionally. 4 Ways to Control Cost and Keep Your Projects Financially Fit. Make Your Cost Visible.

The Good News is YOU have BAD News

PMStudent

Perhaps your subject matter expert has resigned or project costs have increased, whatever happens you need to be able to. "Nothing travels faster than light, with the possible exception of bad news, which follows its own rules" - Douglas Adams.

2016 60

Effective Leadership Skills. Are You Truly A Great Project Leader?

Fix my Project Chaos

Lately on the blog I’ve been exploring the ten skills that employers want from project managers. Effective leadership is one of the key skill that employers expect from project managers. While managing the project (costs, risks, issues, scope etc.)

Effective Leadership Skills. Are You Truly A Great Project Leader?

Fix my Project Chaos

Lately on the blog I’ve been exploring the ten skills that employers want from project managers. Effective leadership is one of the key skill that employers expect from project managers. While managing the project (costs, risks, issues, scope etc.)

Does remote project management really work?

Moira Alexander

Does remote project management work? Will remote project management work for your organization if you have a top-notch virtual project teams? There are advantages to establishing virtual project teams for remote project management. Some may include the following: Lower project costs due to technology advancements that bridge distance. Improved work/life balance for project team members. The answer, in general, is yes, it can.

2015 63

10 Performance Metrics Examples Project Managers Can't Afford to Miss

MavenLink

Project management is riddled with complications. It is imperative to keep track of performance metrics throughout the entirety of a project's lifecycle. Keeping track of key performance indicators allows a more accurate understanding of project status, success, and profitability.

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

Project Bliss

The job title of “project manager” is pretty common these days. But project manager roles and responsibilities can be pretty vague if you’re not already familiar with them. When I took my first job as a project manager, my mother asked what I do.

2017 200

Business Acumen for Project Managers [Free Checklist]

Girl's Guide to PM

It’s also something mentioned in the standards for professional project management bodies. Apparently, business acumen is something that project managers should have. I believe that my success at working with senior stakeholders and on difficult projects is to do with business acumen.

2016 254

Fallacy of the Day

Herding Cats

This book states estimating is "giving a general idea about the value, size, or cost of something". Let's look at a more reliable source for definitions in the project management domain. Project Management Institute's PMBOK 5th Edition all the way back to the 3rd Edition.

5 Stats You Need to Know from the 2017 State of Project Management in Manufacturing Report

LiquidPlanner

But following structured project management methods can help companies reduce delays, stay on budget, and deliver quality products. To learn more about the challenges facing manufacturers today, download the free 2017 State of Project Management in Manufacturing report here.

Londoners, dig deep in your pockets for yet another troubled project

Ron Rosenhead

Today, the Mayor of London Sadiq Khan ordered an enquiry into the escalating costs of the former Olympic stadium site. However the escalating costs have raised more than a few eye brows. additional costs for the seating problem. How good is project sponsorship in your company?

2012 81

Business Acumen for Project Managers [Free Checklist]

Girl's Guide to PM

It’s also something mentioned in the standards for professional project management bodies. Apparently, business acumen is something that project managers should have. I believe that my success at working with senior stakeholders and on difficult projects is to do with business acumen.

2016 215

Maintain a Healthy Project Portfolio with Metrics and Reviews

Arras People

In an increasingly competitive business environment, more organizations are turning to project portfolio management (PPM) to meet strategic goals and objectives. Project Portfolio Management and Business Strategy. There is a circular link between strategy and project portfolios.

Maintain a Healthy Project Portfolio with Metrics and Reviews

Arras People

In an increasingly competitive business environment, more organizations are turning to project portfolio management (PPM) to meet strategic goals and objectives. Project Portfolio Management and Business Strategy. There is a circular link between strategy and project portfolios.

How to Actually Develop a Project Management Plan

Project Risk Coach

If this is true, why is it that some project managers put so little time in developing a project management plan? One of the reasons is that project managers may not know what to include. Every project is different. Project Baselines.

Embracing Uncertainty in Software Projects

LiquidPlanner

A seemingly simple question that can become a project management nightmare to manage. After all, you’re the project manager!) If you’re right and the project delivers on time, you’ll be heralded as a “someone who can deliver.” No two projects are ever the same.

What is the Difference Between Agile vs Waterfall?

TrustRadius Project Management

Before undertaking any development project, the most important decision to make is how to approach the project as a team. These terms are sometimes applied in project management, but they find their roots in software development. It’s a simple truth of development projects.

2018 52

Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Risk management is essential to the success of any significant project. Risk management is an important skill that can be applied to all projects.

Risk 69

The Best 53 Project Management Blogs You Should Be Reading

Paymo App

People are gradually becoming more interested in project management as an independent topic and as a possible career. Project management blogs and resources can be a primary source of knowledge, especially if project management (PM) experts contribute to them. Project Bliss.

2018 91

Without a Root Cause Analysis, No Suggested Fix Can Be Effective

Herding Cats

Yes, projects have uncertainty. Projects are no exception. Using the chart from the post, showing the number of projects that went over their estimated effort, let's look closer at a process to sort out the conjectures made in the post about estimating.

2016 107

Fallacy of the Day

Herding Cats

This assessment will provide a model of the needed margin - schedule margin, cost margin, and technical performance margin, that will be used to protect that date, cost, and technical performance. Risk Management is how Adults Manage Projects. This is paid for by the project.

Risk 69

Who Approves Your Project Change Requests?

Project Risk Coach

Some organizations lack clarity about who approves the project change requests. On one project, the sponsor tells the project manager to make the decisions. On other projects, the sponsor makes the decisions. So, who should approve project change requests?

2016 81

Planning before Scheduling

Herding Cats

For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it? Without some form of decomposition of what “done” looks like, it is difficult to connect the work of the project to the outcomes of the project.

The Real Story Behind Why Your Organization Wants You to Track Time

LiquidPlanner

Time tracking data surfaces project cost, project profitability, employee availability, employee cost, and so much more. Whether you’re a project team member wondering “why on earth…?” Allows businesses to measure the true costs of any project.

Have You Left Anything Out of Your Project Plan?

Project Risk Coach

The Project Plan Checklist Have you left anything out of your project plan? Check out this project plan checklist to help you identify the baselines and plans that will be most helpful to each of your projects. I like to keep my project plans as simple as possible.

Epistemic Uncertainty Creates Reducible Risk

Herding Cats

Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Aleatory uncertainty, from the naturally occurring variances in the process and Epistemic uncertainty from the probabilistic event-based processes that impact the project. Only margin can be provided to protect the project's cost, schedule, and technical performance from this risk. Yesterday's Post What Is Risk? was a response to a tweeter post conjecturing .

Risk 46

Benchmarking in Project Management (1): In Search of Best Practice

Inloox

Our latest blog series will cover the topic of benchmarking in project management. This method is used in project management to improve the organization’s project management methods and processes, or to compare internal projects to each other to identify what the most successful projects have in common (keyword “ lessons learned ”). The first step is to identify the differences between the organizations and projects. Project schedule performance.

PMI 40

Yes, Your Team Needs a Project Manager. Here’s Why

LiquidPlanner

During the annual budget cycle, portfolio planning or even the adhoc “just-go-do-it” project, project management resource planning and funding can be marginalized and even entirely overlooked. Below are five reasons why projects need professional and experienced project managers.

Two Parallel Processes of Project Success - Both Value and Delivery are Needed

Herding Cats

Software development is a Value Creaton activity, but Value cannot be determined unless we know the cost to produce that value and when that value will be available for use by those who of paid for that Value. What will it cost to get the value?

2018 73

Why Your Business NEEDS Integrated Construction Software

Geniebelt

Once the contract for the project is won, paper really starts to build up all over the place: -Head Office. All that struggle comes with a great cost, as you can imagine. Lacking information about the progress of the project. Task and project delays.

What did the Project Managers ever do for us?

The Lazy Project Manager

I sometimes hear of project management and project managers being challenged in much the same way … ‘what has project management done for us (the organisation)?’ One is to consider what would business life be like without project management in place.

2015 74

Estimates, Forecasts, Projections

Herding Cats

We can estimate the total cost, total duration, and the probability that all the Features will be delivered on the program we are working for the US Government. Or ANY software project for that matter. The estimated completion cost for this program is $357,000,000 with an accuracy of $200,000 and a precision of $300,000. Another way to speak about the estimated cost is This program will cost $357,000,000 or less with 80% confidence. Projections/Prediction.

The Best Time Tracking Software of 2018

Paymo App

Harvest – a time tracking and invoicing tool to ease project delivery and billing. You can export this data into reports and timesheets, so you can use them for your next projects to avoid wasting time. Cost: Think about your existing budget and what you want to pay for.

2018 72

Most project sponsors regularly make this mistake

Ron Rosenhead

Not briefing their project managers effectively enough. Project managers regularly tell me this is so and the stories they tell supports this. Take this comment from a recent project management course about a case study briefing. These are words I have heard quite a number of times and he was referring to a case study which we use throughout the project management programme. For a 9 months project costing just over £100,000).

How to Develop a Strong Governance Process with These 6 Tips ?

Project-Management.pm

Projects involved a lot of planning , implementation , and not to mention tracking or detecting issues and problems within the team or the project, and surpassing the following process. It also means successfully identified the stakeholders and risks and the project are already in the plan, ready for implementation. Building up a governance process may be a little intimidating, especially if you don’t organize your project outline properly.

How to Get Better Client Feedback

ActiveCollab

Likes and dislikes aren’t getting you closer to finishing project. Are there any aspects of the project you would like to strengthen in order to support achieving this? You should explain and ensure they understand that their feedback is essential for long-term success of the project.

Project Management Checklist for the Modern Agency [download]

Function Point

Project Management Checklist for the Modern Agency [download]. But a lack of emphasis on project management can seriously derail your creative team’s best efforts. This is where a Project Management Checklist can help keep you on track. . Without a strong project management process, even the most talented creatives suffer from poor time management, lack of project clarity and confusion, leaving agency leaders to risk missed deadlines, scope creep and refusal to pay.

80+ Awesome Online Resources for Project Managers

Wrike

Where can you go to talk Gantt charts, work breakdown structures, and Agile workflows to your heart’s content with other project management aficionados? There’s a treasure trove of valuable information available online for anyone looking to sharpen their project management skills. .

The Problems with Schedules

Herding Cats

The Core Problem with Project Success. Unrealistic Cost and Schedule estimates based on inadequate risk adjusted growth models. Before diving into the details of these, let me address another issue that has come up around project success and estimates.

2016 79