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Advance Your Career

Creating and Capturing Value – More than just Cost Reduction

by Iain Fraser
June 14, 2018 | 60:56 | Views: 9,614 | PDUs: 1.00 | Rating: 4.39 / 5

Clarifying and widening the status quo around value, especially at the enterprise level. This webinar aims to offer an explanation of value management that goes beyond the notion of value engineering and process-based tools.

EDM: Earned Duration Management a Novel Approach

by Homayoun Khamooshi
April 29, 2014 | 62:47 | Views: 642 | PDUs: 1.00 | Rating: 3.78 / 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.

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Save Time With Tools + Templates

Project Resources Budgetary Analytics Tool

PREMIUM deliverable
by Lee Wallace

This template is designed to show projected budget costs for project human resources (a consulting team, for example) and provide a comparative analysis of actual money spent on those resources and hours used to date by those resources. It can be easily updated as desired (weekly, monthly, quarterly, etc.). The tool provides an immediate illustration of the state of the project at any point along the project life cycle by showing whether the money and hours utilized to date are above, at or below the projected budget amount.

Profit-Loss Template

PREMIUM deliverable
by Khaled Istanbouli

This Excel sheet helps you track monetary trends for various project items and plots a graph summary based on your entries. Adapt the items and expenses to suit your project.

Project Dashboard Template

deliverable
by Mamadou Issa

Use this project dashboard to give team members and stakeholders a snapshot of your project, including an executive summary, completed and upcoming activities, milestones, risks, budget information and more.

Overview of the Project Management Process

PREMIUM presentation
by John Galyon

While actively participating in mentorship during a project with a local design/build firm, this practitioner compiled an overview of the project management process as detailed in PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Use this overview with other project managers as a tool to reference in your day-to-day PM activities (as well as share with new project managers).

Learn From Others

Topic Teasers Vol. 121: A Project Management Pricing Strategy

by Barbee Davis, MA, PHR, PMP, PMI-ACP, PMI-PBA

Question: As a part of the new project management office in my company, I have been asked to become involved in setting a pricing strategy for the organization. That appears absolutely no place in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), and I have no idea how to begin. Am I to be planning just the cost for the people on the project team, or do I need to know about other organizational costs? Are they actually going to use my work to decide how much our customers will pay? Eek!

3 Ways to Improve Project Financial Sustainability

by Bruce Harpham

As a project manager, you’re used to focusing on the project itself. That makes sense when it comes to hitting deadlines and making your budget. There’s a gap though. You might be hurting the organization’s financial sustainability.

Staying Sustainable After Launch

by Carleton Chinner

Most projects don't end with their launch date—they have an active lifespan and eventual decommissioning. Do you know what the true end-to-end cost of your project is?

Size Estimation – Some Thoughts From the Trenches

by Karl-Erik Hirviniemi

Estimating something to be developed in a product—something that has not been done before—involves inherent uncertainty, not the least about how much work is required to produce a finished product. Estimation is about having a grip on the size of a project in terms of the amount of work, complexity or functionality, and is critical to the business.

How Much Management Reserve Do You Need?

by Mac Sauls

Effective decision-making requires forecasting the outcome of each option based on the probability of alternative scenarios. As a project manager, you must become the financial advisor on your project. Management reserve should be added to your baseline costs, then used to manage the uncertainty of risks and to mitigate variability.

Topic Teasers Vol. 114: Making Budgets Work

by Barbee Davis, MA, PHR, PMP, PMI-ACP, PMI-PBA

Question: My team is experienced and motivated, and while we come in around the budget I have constructed, management is constantly saying it doesn’t make any money on my projects. I am figuring in salaries and costs for raw materials at a constant rate. I always show that people work the number of hours I have projected. The company executives seem to be pleased with the work of other project managers, even if they show much higher costs than I do. Where am I going wrong?

How to Do Better, Cheaper, Sooner

by Donald Charles Wynes

Are you looking beyond individual departments and focusing on the value created in the full series of activities they perform to create and deliver their product? Here’s the story of one PM who was willing to step beyond her role to move the focus of “better, cheaper, sooner” to the whole chain of work her firm delivered to its customer.

Data Quality Management in Engineering and Construction Projects

by Valentin Kouprine, PhD, PEng, PMP, Daron Kinsey, MIEAust, Randy McMeekin, PEng

The engineering and construction industry is transforming from a document-driven to a digitally driven sector. Besides the physical assets delivered, managing project data and information is essential to providing better quality deliverables, cutting costs and controlling risks.

Project Constraints on a Journey Toward Being Agile (Korean Translation)

by Pawan Rai

모든 프로젝트 관리자는 범위, 시간 및 비용으로 구성된 프로젝트 관리 삼각형을 잘 알고 있습니다. 프로젝트의 성공을 달성하기 위해서는 품질, 자원 및 위험 요소가 반드시 고려되어야합니다. 여기에서 초점은 민첩성의 시대에 이러한 제약이 어떻게 관련되어 있는지 이해하는 것입니다.

Explain Program Risks with Cost of Delay (Japanese Translation)

by Johanna Rothman

製品と機能の遅延は、ITプロジェクトの採用や商用製品の収益に悪影響を与える可能性があります。 遅延コスト(CoD)は、これらのコストを説明し計算する方法です。 アジャイルプログラムマネージャーがCoDを使用してリスクを説明する方法は次のとおりです。


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Recent Questions

Topic Originator Last Post Votes Replies
ChromX 9000  Dejan Pesic  Sep 11, 2019 12:11 PM 
What type of contract is most appropriate?  Luis Branco  Sep 10, 2019 6:55 PM 
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question about control scope  FABRIZIO PETECCHIA  Apr 30, 2019 11:23 AM 
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how to communicate missing project costs to Business Team on Project proposal thats already approved???  Unaha Toucha  Apr 16, 2019 11:43 PM 
Financial modelling or financial management will likely lead to project success?  Suzi MS  Apr 10, 2019 10:10 AM  11 
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