What is cost control? It is a constant process of measuring the variances in cost from what was initially planned and making appropriate changes to the scope or budget of certain aspects of the project. This process is done throughout the whole lifetime of a project. Remember one of the Read more…
An effective cost control system should have: Planning of the work needed to complete a project Estimation of time, labor, and costs Clear communication of the scope Disciplined budget Timely accounting of progress and expenditures Reestimation of time and cost periodically Comparison of actual progress + cost to the schedule Read more…
After putting the project plan into place its time to schedule and get ready to execute. Scheduling might seem as an easy task to perform but it has the possibility to determine the overall success of the project. A team that has put a great schedule into place will have Read more…
Risk is inherent in all endeavors of project management. Determining the degree to which risk is present, and the extent to which it can be minimized, is the cornerstone of Risk Management. This post will cover some of the factors that contribute to projects deemed “high-risk” and techniques Project Managers Read more…
Project managers are always grappling with the demands involved in project planning, and the many moving parts that encompass it. The crux of managing projects involves keeping the project’s resources, tasks, and timeline defined in clear sight so that project managers can keep a comprehensive view of the project, as Read more…
Top 5 Factors That Lead to Project Success I found this article interesting, it talks about 5 factors for success being: Intelligent People Comprehensive Planning Open Communication Proper Risk Management Strong Project Closure While some of the items are seen as being obvious others are something that you think about Read more…
Project Success is measured by the actions of the project manager and team, the parent organization, and the customer organization. Each party can experience different variables that ultimately have different appropriate actions to take. As a project manager, it is important to look at all these variables that will be Read more…
While it’s important for a project manager to determine different elements of a project such as the cost, time and performance, this will only identify immediate problems. In addition, the project manager must also consider different company variables, such as culture or work flow. Proper communication between all concerning groups Read more…
To understand what project planning is, we need to know the project management cycle. There are four phases in the cycle: initiation, planning, execution and closure. Planning phase stands second. Project Planning Phase Goal: Define project scope, timelines, costs, deliverables and schedules. Project planning is a highly disciplined activity and is Read more…
Overview Being a project manager is a big deal – always having to be on top of everything, and even ahead at times. One big responsibility is being in charge of planning – outlining all the work to be done for a project. Assumptions Not everyone knows exact specifications, especially Read more…