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.
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?
Is "consultant" a dirty word? Many consultants get a bad name from the fact that they become indistinguishable from the organizational employees that they work alongside. How do you know that hiring a consultant is a good idea?
What comes to mind when you ponder the possibility of engaging a consultant? Dread or excitement? The high cost or opportunity for growth? Most of us have heard good things and bad things about using consultants, most of which are true.
Many consulting engagements see frustrated consultants because they are not allowed to do what they feel is needed to maximize the chances of success. Here, we look at how these scenarios can be avoided--something that starts with trust.
Consultants can be a helpful resource on a project or they can take up valuable space. Here are some ideas for the best way to deal with consultants and make sure they are beneficial to the project.
Why is LOE as important for a project as other aspects like stakeholder satisfaction, cost overshoot and schedule variance? And are you approaching it the right way?
Choosing the best framework or methodology requires thought, but be careful not to overanalyze it. PMs can gain valuable insight from Bruce Lee’s philosophies, which offer a sound approach to achieve success in any area.
There is one aspect of project management where it's rare to find any consistency at all within PMOs: project financials. Let’s look at some of the different options and see if we can figure out some models that might work effectively.
The best part about Project Cost Management is that there are only three processes. And while the first two processes are light dumbbell lifting, the third throws some heavy barbell exercises your way. Are you prepared?
Nothing comes free, but do you understand the true cost? When we look for ways to improve business efficiency, we consider two primary factors. But sometimes organizations push so hard for efficiency that they ignore the potential impact--and that’s when the problems start.
Whatever the approach, mandate or processes adopted by each organization, you as the PM should be aware of the following best practices and ensure that they are adopted in one way or the other to guarantee your project’s financial transparency.
Since it’s the cold season, we wanted to share a list of maladies that will take your project down if you aren't paying attention or fail to keep your guard up. Each are preventable, and as the old saying goes: an ounce of prevention is worth a pound of cure.
PMs don’t always have the right view of what makes a project successful. Our discipline has evolved and now requires us to have a much more complete view of how our projects impact organizations. Just how do you define "failure"?
It's inevitable--organizations will change the way that planning cycles are executed. For many organizations, this is a natural extension of the commitments that they are already making--EPMOs, strong and executive supported portfolio management, and results-focused execution. For others, this is a major shift. Here we explore some of the ways that annual planning can be improved.
There are many different methods a project manager can use to rebaseline the project plan. Unfortunately, the one most often used is reactive instead of proactive. Approach your rebaselining event in a careful and methodical manner to make it worthwhile and benefit the project.
Enterprise PMOs are going to continue to grow and evolve--and over time the vast majority of organizations will evolve their PMO models to an EPMO model. However, as we look at the way that companies manage their PMOs today, we can’t help thinking that there is a lot of work ahead.
For those project managers practicing agile practices and methods, you already have all the ingredients in place to optimize your green initiatives. This article will attempt to illustrate how agile principles can enhance and compliment projects that have sustainability as one of its main end goals.
Now is a great time for us as project managers to consider how we might change our habits for the better. It’s very easy to get trapped into a set of activities without examining how we can improve our delivery. By incorporating the three “Rs” (reduce, reuse and recycle) we can better manage our projects.
To really get environmental awareness to stick in an organization, you have to be prepared to go beyond setting an example and start to define green-aware policy and create a culture of sustainability. Here, we look at some practical, easy-to-implement ways that you can start to have a smaller environmental footprint when you execute on projects.
Adoption of LEED standards is typically framed as a means of reducing operating costs; the greater expense in designing and building sustainable facilities is offset by reduced energy consumption in future years. This becomes a theoretically easy business case that should be readily accepted: an investment in current periods providing future savings in costs. The challenge, however, is two-fold: it requires foresight and a willingness to invest in the long term, and there needs to be confidence that the promised benefits are realistic and attainable.
As environmental concerns and sustainability become bigger issues across all aspects of society, there is an argument for taking a rather longer-term view of product development--the concept of whole lifecycle thinking, ensuring that the costs of the product are considered from birth to retirement. What can project managers do to help develop and implement the concept?
One writer understands the need for carefully considering the impact and consequences of our decisions and actions, but why project management? Isn’t it everybody’s responsibility? But after researching and pondering the options out there, she realized that being green is actually pretty easy sometimes...and important.