The Money Files

A blog that looks at all aspects of project and program finances from budgets and accounting to getting a pay rise and managing contracts.

About this Blog


Recent Posts

How to Construct Your Project Budget

4 Estimating Terms You Need To Know [Videos]

Questions from PMXPO 2015

4 Initiatives for Improving Major Projects (And Small Ones)

How to Use Your Budget to Anticipate Risks

4 Estimating Terms You Need To Know [Videos]

Categories: estimating, video

This article summarises four of the key terms that you'll come across when you start working with project estimates.

Bottom up estimating

This estimating term describes how you break down your project and estimate (as the name suggests) based on the smallest components.

Watch the video here: Bottom up estimating video

Parametric estimating

This term describes how you can use statistical and logical calculations to work out how long a project will take, based on what you know about the individual activities.

Watch the video here: Parametric estimating video

Analogous estimating

Analogous estimating relies on previous experience to calculate the estimate.

Watch the video here: Analogous estimating video

Three point estimating

Three point estimating is discussed in more detail in this article but the basic premise is that you use a formula to calculate your overall estimate. The formula is:

This calculation will leave you with a weighted estimate of the budget for the activity (although you could use it for scheduling time and work out your estimate in days). It will be weighted in favour of the most likely cost for that task, but it will also allow for the fact that things might go well – or not.

Posted on: September 24, 2015 11:59 PM | Permalink | Comments (5)

Questions from PMXPO 2015

Categories: video


In this video I discuss some of the questions raised during my presentation at PMXPO this year.

For more on managing project budgets on the cheap, see this article on communicating on a budget.

Posted on: September 18, 2015 03:16 PM | Permalink | Comments (2)

6 Tools for Project Cost Control [Video]

Categories: cost management, video

In this video I discuss the 6 tools and techniques related to project cost control.

Posted on: August 03, 2015 06:33 AM | Permalink | Comments (0)

Commercial Awareness for Project Managers [Video]

Categories: video

In this video I explain why project managers should be commercially aware.



Posted on: July 22, 2015 09:32 AM | Permalink | Comments (0)

5 Considerations for New Vendor Relationships

Categories: supplier management, video

In this video I talk about the 5 things that you should consider before you start a new professional deal or relationship with a vendor.

Posted on: June 01, 2015 08:32 AM | Permalink | Comments (0)

"Chaos is a friend of mine."

- Bob Dylan