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. Project Cost Management.

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.

2017 259

Earned Value Primer: The Basics of EVM

Online PM Courses

How best to monitor and report on the performance of your projects and predict their future performance? PMBoK & PMP PMI Talent Triangle: Technical Project Management Project Cost Management Project Management Tools and Techniques Project Schedule Management cost management Earned Value

2019 119

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 28

From Onboarding to Expert: Refining and Optimizing the LiquidPlanner Experience

LiquidPlanner

The refining stage tends to kick in once you’ve been using LiquidPlanner long enough to focus on proactively managing project risk. When your projects have deadlines, you want to capture that as a deadline date in the project edit panel. Project Costing.

2019 98

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?

2016 200

5 Quick Wins for Driving Increased Employee Utilization with Effective Project Management

Keyedin

Having the ability to allocate resources more effectively to every project and respond rapidly to changes in workload are key to maximizing employee utilization and increasing your billable hours without increasing headcount.

2019 78

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.)

5 Quick Wins for Driving Increased Employee Utilization with Effective Project Management

Keyedin

Having the ability to allocate resources more effectively to every project and respond rapidly to changes in workload are key to maximizing employee utilization and increasing your billable hours without increasing headcount. In this article we explore 5 quick wins for increasing employee utilization through effective project management. #1. Monitor employee utilization and project costs People costs are often the single largest part of project costs.

2019 60

Can Persuasive Sales Representative Become the Future Leads in Project Management

Taskque

Sales professionals and project managers are professionally worlds apart. However, who could’ve thought that people in sales have the potential to actually turn into a really successful project manager? Carmichael Jordan, Project Manager. Project Management

2018 206

Are you managing project performance for profit?

Keyedin

In fact, just 77% of professional services projects are delivered on time. And as deadlines slip, so invariably costs mount, eating away at your profit. So far, so good.

2019 78

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 160

5 Notorious Failed Projects & What We Can Learn from Them

ProjectManager.com

Failure is an unavoidable part of any project process: it’s the degree of failure that makes the difference. But a systemic collapse will derail the whole project. Project managers can learn as much, if not more, from failed projects as they can from successful ones.

2018 398

Project Planning for Beginners

ProjectManager.com

Project planning is one of the foundational pillars that supports the practice of project management. In Review – Project Planning for Beginners. Project planning is very important in any project, Jennifer said. Project Planning Basics.

An Introduction to Vendor Management

ProjectManager.com

Most projects dip into outside resources to achieve their objectives. The practice of vendor management enlists vendors—or businesses and individuals who provide essential goods and services—to help execute their project. Remember, vendors are but one arm of your project.

2018 312

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.)

10 Low-cost Project Management Tools you Can’t Afford Not to Use

Teamweek

The right project management tools can help managers become more organized while also reducing the costs involved with carrying out the project. Online tools can help make project cost management more affordable than it has ever been before. Zoho Projects.

Are you managing project performance for profit?

Keyedin

In fact, just 77% of professional services projects are delivered on time. And as deadlines slip, so invariably costs mount, eating away at your profit. The truth is that the only way to ensure profitability of a project is through rigorous, ongoing performance monitoring: using professional services project management software to not only track whether key stages are being delivered on time, but gaining a granular insight into the progress of every task.

2019 60

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 301

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.

2016 287

10 Project Constraints That Endanger Your Project’s Success

ProjectManager.com

One of the biggest challenges of every project manager is project constraints. They limit a project, and they can quickly endanger your project’s success. Classic Project Management Constraints. Cost: How much money is available to achieve this outcome?

2018 384

Efficient project governance should not be an oxymoron!

Kiron Bondale

is controlled by the people who run it “ This is certainly an appropriate meaning of the phrase when applied to corporate governance, but is not the most empowering vision for how projects need to be governed. Tagged: governance , project decision making , Project performance.

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.

How to Keep Your Projects On-Time and On-Budget

Arras People

Deltek is the latest member of the Arras People Software Directory , in this article they give a brief overview of how projects can be controlled and how software can help with this. But what are the right project controls and is there a single method to the implementation madness?

Budget 313

Taking the Element of Chance out of Project Profitability: Five Factors to Watch

Keyedin

Project profitability can be won or lost at the execution level. Here are five critical control points that project managers should have front-of-mind when looking for ways to improve project delivery in professional services and, ultimately, their companies’ fiscal health.

2019 78

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 278

Crisis Management: How to Lead During a Crisis

ProjectManager.com

Sometimes leading a team, project or organization goes well. Jennifer noted that whether you’re leading a team , project or organization, things are either going well or poorly. That took the team member away from the project to deal with a family emergency.

2019 206

10 Essential Project Management Skills for Project Managers of 2019

nTask

With project management field reaching new heights each day, it has become imperative that one must possess a distinct set of essential project management skills to achieve project success. One of the most essential project management skills has to be communication.

2019 123

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).

2017 163

Taking the Element of Chance out of Project Profitability: Five Factors to Watch

Keyedin

Project profitability can be won or lost at the execution level. Here are five critical control points that project managers should have front-of-mind when looking for ways to improve on project delivery and, ultimately, their companies’ fiscal health.

2019 78

The core components of IT Portfolio Management

Keyedin

IT portfolio management emphasises a strategic focus on goals such as revenue growth, cost reduction, regulatory mandate and business continuity rather than just typical operational objectives such as project cost, timescales and deliverables.

2019 78

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 369

Cost and Value Management for Software Development

Herding Cats

we focus on Value and don't need to worry about Cost. Here are the moving parts of any project that intends to make money from the cost invested to produce a product or service. Software Project Cost Estimation . Overlooking key project risks.

The core components of IT Portfolio Management

Keyedin

IT portfolio management emphasises a strategic focus on goals such as revenue growth, cost reduction, regulatory mandate and business continuity rather than just typical operational objectives such as project cost, timescales and deliverables. With IT portfolio management , project planning is viewed as a fundamentally top-down initiative and external stakeholders are required to take part in the decision making process.

2019 60

How to achieve Greater Client Satisfaction and Profitability through Improved Project Management

Keyedin

In a recent webinar on better business performance for professional services we explored how efficient project management doesn’t have to involve major new technology investment. The important thing to bear in mind is how cost-effective this can be. Driving project performance.

2019 78

7 Key Factors Driving Successful Project Management in Professional Service Delivery

Keyedin

Efficient service delivery is based on getting the project management engine as finely tuned as possible so that it runs smoothly. This is what we are referring to as the seven key drivers of successful project management. Assuring Project Profitability.

2019 78

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.

2017 118

PMBOK® Guide Sixth Edition Knowledge Areas And Process Group

iZenBridge

What are the Project Management Knowledge Areas as per PMBOK® Guide Sixth Edition ? Thus, activities in projects take some input, these are refined using tools & techniques to create the output. Processes which monitor the execution of project falls under this process group.

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.

2017 117

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 239