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?
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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.
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.
Save Time With Tools + Templates
This sample Excel worksheet includes a Gantt chart with resource estimation (man hour, machine hour) and cost estimation. It provides a quick way to calculate project budget and project selling price.
This Excel tool was developed to assist project managers in preparing simple project/program S-curves by entering a small amount of data and presenting it in a professional report for project participants. The tool calculates activity finish dates, draws a bar chart of activities, distributes cost uniformly over durations and uses generated cost data to present a project cost chart.
This template can be used to estimate costs for a project based on Scrum iterations/sprints. This tool assumes basic knowledge of agile/Scrum. The template is divided into three spreadsheets: Overview (detailed explanation of the template and usage), Estimator (calculations required for obtaining project cost estimates) and Data (look up data used in the estimator worksheet).
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.
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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-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.
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.
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.
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.
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?
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.
En temporadas de auge económico la mayoría de las empresas pueden identificar fácilmente que los proyectos permiten realizar inversiones y mejoras para el crecimiento del negocio, pero que pasa en tiempo de crisis, ¿es necesario realizar proyectos?
Scared of spreadsheets? Don't be! They are a necessary and valuable tool in the project manager's arsenal. This article and its accompanying template are not a step-by-step tutorial. Instead of detailed instructions, it discusses a few things that are crucial to start both managing projects and completing advanced work with spreadsheets.
What constitutes a troubled project? The answer is truly in the eyes of the sponsor, but as project managers we need to measure objectively and then decide how to use those facts in our go-forward plans. Here the author puts everything in the context of the triple constraint.
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|Budgeting and cost tracking for a Scrum project||Robert Poddar||Oct 14, 2017 5:06 PM||0||10|
|Fear of losing skills||Mirza Mohibulla Baig||Oct 11, 2017 3:27 PM||0||22|
|EVM usage in you projects||Vincent Guerard||Oct 9, 2017 9:39 AM||0||14|
|Which project is the most cost efficient?||George Lewis||Sep 29, 2017 5:04 PM||0||11|
|Contractor’s Rhythm & Disruption||Mohammad Rahimi||Sep 11, 2017 5:09 AM||0||4|
|CPI and dashboard indicators||Betsy Green||Sep 1, 2017 10:58 AM||0||12|
|Is anyone using JIRA as well as MS Project to manage collaboration among project team members?||Timothy Griffin||Aug 27, 2017 8:06 AM||0||4|
|which is percent of basic & detail engineering in capital project?||Carlos Alberto Veron||Aug 19, 2017 8:13 AM||0||2|