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Advance Your Career

EDM: Earned Duration Management a Novel Approach

by Homayoun Khamooshi
April 29, 2014 | 62:47 | Views: 431 | PDUs: 1.00 | Rating: 3.68 / 5

The concept of schedule monitoring and control as one of the most important functions of project management has not been fully exploited. That could stem from the dominance of Earned Value Management Systems which use cost indicators to measure schedule preformance. This can be misleading. In contrast to Earned Value and Earned Schedule, the authors have developed the Earned Duration Management (EDM) which uses certain indices to measure progress and performance of schedule and cost.

Project Management Processes for the True Beginner: Cost Processes

by Vijay Kanabar
December 23, 2012 | 47:32 | Views: 571 | PDUs: 1.00 | Rating: 3.99 / 5

To help you understand project cost management, this webinar covers cost estimating, budgeting and control. We use a case study richly embedded with illustrations of tools, techniques and project management templates. Our presenter, Dr. Vijay Kanabar, PMP, is a council member of the PMI New Practitioners Community of Practice. He is the director of project management programs at Boston University, has presented at PMI conferences and authored two books on project management.

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Save Time With Tools + Templates

Multi-Project Tracking Template

PREMIUM deliverable
by Stephane Parent

This template shows how you can track actual time and dollars against estimated time and dollars across projects, activities and persons. The pivot table allows you to roll up the data at the project, activity and person, in any order.

Earned Value and Earned Schedule Analysis Worksheet

PREMIUM deliverable
by Wilko Reinck

This Excel sheet performs the calculation for earned value and earned schedule analysis. The forecast resulting from all KPIs [time-based SPI, CPI, CPI (internal), CPI (external) and WPI] is calculated based on the different forecast methods proposed by A Guide to the Project Management Body of Knowledge (PMBOK® Guide). The user can choose which method shall be used for each KPI.

Budget Management Sheet

PREMIUM deliverable
by Stefan de Vries

Once the work breakdown structure and the schedule are defined, this document can be used to plan and monitor the costs for each individual activity or work package. This template lets you subdivide an activity or work package into smaller parts (cost items). For each of these cost items, you can plan the corresponding costs in detail.

Project Status Update (Presentation)

PREMIUM presentation
by Daniel Grzybek

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.

Learn From Others

The 10 Secrets of Customer Dispute Management: 'Compromise'

by Kevin Joyce

In business, disputes happen. They are an unfortunate, but inevitable, consequence of the financial interests of the supplier and the customer. What happens when we, as project managers, are faced with a customer who says they are not happy, who refuses to pay or who threatens legal action? What steps can we take to address this challenge?

The Agile Budget Conundrum

by Joe Ballard

Companies have embraced agile over waterfall for managing projects. But for all the hoopla around Scrum and sprints, one area of the business has resisted agile because it means it must change the way it operates.

Cost Estimating: Budget Formation Principles

by Bernardo Antunes

Are you armed with an accurate budget? This article aims to highlight the main principles of budget estimates for projects, looking at basic principles to help you stay on target.

Design Your Status Report for an Audience of Leaders

by Joe Wynne

When you think of the leaders who look at your status reports as users, the look and feel of the report you use may be inadequate. Give leaders the information they need in a compelling manner by using design thinking to make improvements in how information is presented.

Project Performance Reporting

by Allen Chilmeran, PMP

Project-status reporting is intended to enable decision makers to make informed decisions that will increase the chances of achieving a favorable outcome. The process of establishing an effective and proactive reporting system that ensures engagement of the project executive team is discussed here.

3 Questions Every Sponsor Should Ask of Agile Project Teams

by Kevin Aguanno, CSPM (IPMA-B), Cert.APM, PMP, PMI-ACP, CSM, CSP, FPMAC, FAPM

While there are many governance data points that can be gathered and analyzed to help make go/no-go decisions, there are three in this writer's experience that stand out as being the most important.

Tricking the System: How to Track Costs for Projects with Internal Resources

by Cory Adcock, PMP

It can sometimes get lost that there are a great number of projects initiated every day that will never have a formal budget associated to them. It is important that PMs and management not lose sight that even internal projects can benefit from the rigor of cost management processes and EVM principles.

First-Cost Estimates in Engineering Projects

by Alexis Devenin

This is an exploration of the importance of first-cost estimates in engineering projects and how they are used to decide whether to go ahead with market studies and engineering development—or dismiss the project.

Managing a Presales Project: How Different Is It?

by Paul Visser

We generally talk about managing projects that were sold to our customers. But how about the management of a presales project? Is that just like managing any other project? Do we have the same constraints? Is it less stressful?

Weather Forecasters: Terrific Project Managers

by William Davis

Like project managers, weather forecasters predict, or forecast, what will happen in the future. But they have an advantage over most PMs when it comes to estimating future uncertainties. Weather forecasters forecast the future more than they predict the future, and forecasts are superior to predictions for aligning stakeholder expectations and improving stakeholder decision making.


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Discussion Rules

Recent Questions

Topic Originator Last Post Votes Replies
How do you negotiate costs when you have no leverage?  Bruce Watts  May 24, 2018 2:14 AM  12 
calculating contingency Reserve of the project  Moloy Chakraborty  May 22, 2018 1:25 AM 
How to track Capacity based billing?  Sneha Utturwar  May 21, 2018 10:37 AM 
When is cost highest in the Project Life Cycle?  Moloy Chakraborty  May 12, 2018 2:43 PM 
Which of the following is NOT true about Motivator-Hygiene theory?  Moloy Chakraborty  May 10, 2018 10:29 PM 
You are utilizing a technique of reconciling the expenditure of funds with the funding limits set for the project. As per the variance between expenditure of funds and planned limit, you are trying t  Moloy Chakraborty  May 10, 2018 12:42 PM 
Melbourne Metro - Huge project but equally simple are the learning  Rahul Sontake  May 2, 2018 9:13 AM 
Do you prefer to estimate in real time or ideal time?  Sante Vergini  May 2, 2018 5:03 AM  15 
Do you think it will be a good idea if PMI introduces a new certifcation for Cost & Estimation ?   Rami Kaibni  Apr 16, 2018 11:43 AM  30 
What are the key quality metrics one should measure  indira panchakarla  Apr 16, 2018 7:03 AM 
How does the number of stakeholders affect my project cost?  Mostafa Nour  Apr 12, 2018 7:59 AM 
lessons learned help  Bryan Murphy  Apr 10, 2018 8:18 PM 
Project Cost Controls   Joshua Moore  Apr 4, 2018 3:44 PM 
Can MS PROJECT handle multiple base currencies for resource costs? For example I rent my forklift in Indonesia and have a monthly Indonesian Rupiah Currency cost. I pay my PMP in US Dollars. Both are  Jonathan Kine  Mar 31, 2018 4:16 PM 
Estimation in software development, public references  Vincent Guerard  Mar 22, 2018 4:32 AM  11 
Technology Business Management Framework (TBM) - Experiences  Brandon Fargis  Mar 17, 2018 7:05 AM 
EVM: What are the limitations or this is the best?  Joefil Jocson  Mar 7, 2018 8:22 AM 
Triangular or Beta Formula. Which estimation formula to use?  Dwayne Arnold  Mar 1, 2018 5:39 PM 
EV measurement in a governmental organization   SeyedReza Moosavi  Feb 24, 2018 4:36 AM  14 
project cost management & control  Motaz MohammedSalih Ali WagiAllah  Feb 22, 2018 7:26 PM 
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