Continuing to develop a failing project is a big challenge. Improving the environment and culture to ensure successful delivery requires integrating the bottom-up approach from a small task level with a top-down orientation of strategic management. Learn how to diagnose failure and implement useful techniques.
This sample Project Charter, aligned to A Guide to the Project Management Body of Knowledge (PMBOK®Guide), includes sections for project goals, success criteria, risks, assumptions, restrictions, budget and more.
This presentation template is a formal customer-facing status report used for medium to larger projects, or for reporting multiple projects with the same stakeholder audience.
This Project Status Report template was developed to be utilized in smaller, vendor-to-customer projects. The ideal report frequency is short, such as weekly. Its simple format focuses on communicating key indicators of any project's health (schedule, cost, scope, risk, etc.), activity progress, action items/issues and risk with the goals of being 1) quickly and easily comprehensible to the general stakeholder audience and 2) easily maintained and/or modified by the project manager.
In fixed bid projects, effective project selection, vendor management, a good contract, organizational change management and project management all play a role in ensuring a positive outcome. In this article, the author discusses how to manage fixed bid IT projects with a focus on the vendor's perspective. The crucial phases in the lifecycle of a fixed bid project and how to effectively navigate them are examined.
Early on in the career of a project manager, there are things known, things that are unknown and things that he or she doesn’t know they don’t know. And therein lies the dilemma of estimating. There is no perfect estimate, and this is where the foundational techniques of estimating bridge the existing estimating gap that exists between senior leadership and the project manager.
The Project Dashboard is the summary of the project status. It contains project details, a brief scope, the current phase (status), gating processes plan versus actual, cost analysis (BAC, EAC, ETC, Actual Cost), cash flow forecast/analysis, change order tracking and status, earned value analysis (PV, EV, AC), project schedule status, project hours booking, project highlights/improvements, CPI, SPI, risk costs and HSE safe hours. The template is useful for project managers to track the project progress and report to management about the project status.
Dividing your project into smaller parts that are more controllable helps you move closer to your ultimate goal: successfully achieving your project deliverables and high user satisfaction. Follow these seven tips to gain more direct control over your project.
Budget overruns are typical for all industries, especially for those dealing with complex, non-repetitive projects. Control over projects is often lost because the most popular project control tools simplify the control issue to the extent that vital steering parameters are lost or missed. A probabilistic forecasting tool like the Range Forecasting Method (RFM) can help address uncertainty and reduce extra costs.
This sample project charter helps you define the scope, objectives and overall approach for the work to be completed. It is a critical element for initiating, planning, executing, controlling and assessing the project. It should be the single point of reference on the project for project goals and objectives, scope, organization, estimates, work plan and budget. In addition, it serves as a contract between the project team and the project sponsors, stating what will be delivered according to the budget, time constraints, risks, resources and standards agreed upon for the project.
Large infrastructure project teams continuously struggle to manage several issues posed by the volatile environment of projects. It's time to develop a holistic and dynamic project planning and monitoring tool for the effective management of ever-changing project requirements and environments.
Being a project manager may not be flashy and inspire flowing-cape theatrics, but there are quiet ways in which you can work behind the scenes to ensure that everyone becomes the hero when your projects are completed on time, within budget and to everyone’s satisfaction.
The alternative to embracing change doesn’t have to be completely rejecting it. Are there ways we can introduce more flexibility to waterfall projects without losing control of change? Can traditional project execution approaches learn anything from the agile approach to change?
Do you deliver Project Management as a Service? That doesn’t mean outsourcing your PM to a consultancy, but changing the way you think about project management and your customers--they are clients of the project management processes that you provide.
The latest in the ongoing series of articles helping you get “PMP fit” explores the often avoided Project Cost Management knowledge area. To paraphrase a well-known company, just get at it. When you have read this article and completed your studying, you may well be asking yourself why you were so concerned about it…
One measure of project success hinges on the ability of the estimator to predict the right schedule and budget, since projects that go over budget or fall behind are deemed failures. This article looks at the factors behind the difficulty of getting good estimates and suggests a combination of psychology (soft skills) and science (robust estimation software) to increase project success rates.
Contingency covers costs that are reasonably expected to occur but are not specifically known on a given project. Keeping estimates of contingency up-to-date and relevant to the current environment and phase of the project in real time can be a challenge. Through the use of a project information database, application of a PMO reserve, and the use of iterative risk planning, the authors offer a solution to this problem.
Projects are financial and strategic investments that exist to deliver value. Cash flow modeling is an essential step to produce return on investment (ROI) financial measurements that support the project selection process. The author poses six key questions project managers should ask at the onset of the process to produce an accurate financial representation of the project and enable value creation.
The author presents an approach for using a rate to monitor projects, based on the re-evaluation of two key concepts, work total, and the rate per unit of work. By periodically recalculating and updating rate values, considering the comparison of the actual work vs. the planned work, the project manager may develop reliable databases for use in future evaluations and follow-up projects.
Using a step-by-step approach to budgeting will make your life easier in the long run, allow you to accurately answer any questions about project expenditures, make much more accurate future cost estimates for similar projects and generally give you more control over the project. Here's some help.
The answer is “yes”, even though the typical fixed-price mentality violates the values stated in the Agile Manifesto. But fixed-price contracts are necessary for the market, so agile projects will have to adjust and offer a workaround.
When one PM was asked to list the key requirements for a PMIS that would enable it to better support project and organizational effectiveness, he thought about past project, portfolio and program management experiences. The result? A “dream list” of features for a PMIS to support large, traditionally managed projects...a list that was surprisingly agile.
Some studies have indicated that the real benefits of offshore outsourcing can be diminished by issues in communication, skill sets and accountability. But if managed properly, offshore IT projects can reap substantial rewards.
What each vendor and client might think is black and white about their project can actually be gray. Just recognizing and accepting this is a conundrum--and resolving it requires aligning perspectives for the good of the project. Do you have the flexibility to change, collaborate and communicate?