Sun, 23 Feb 2020 08:29:45 GMT The Money Files https://www.ProjectManagement.com/blogs/256120/The-Money-Files A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from GirlsGuideToPM.com. Agile Finances on Projects: Cost and Procurement Management https://www.ProjectManagement.com/blog-post/60329/Agile-Finances-on-Projects--Cost-and-Procurement-Management Wed, 19 Feb 2020 13:00:03 GMT You know I’m interested in the financial aspects of project management – I’m even thinking of teaching a workshop on project budgeting and accounting later this year. I feel like I’ve got quite a good understanding of the topic, but I’m constantly learning. Having on... What are Present Value and Future Value? https://www.ProjectManagement.com/blog-post/60327/What-are-Present-Value-and-Future-Value- Tue, 11 Feb 2020 13:00:02 GMT I thought it was time to look at some more financial concepts. Last time I looked at depreciation, and today it’s the turn of Present Value and Future Value. I write them with capitals because they also stand as abbreviations: PV and FV. The basic idea behind them both is that they talk ... Aligning Strategy to Value [Video] https://www.ProjectManagement.com/blog-post/60326/Aligning-Strategy-to-Value--Video- Thu, 06 Feb 2020 17:09:25 GMT There has been a lot of talk in recent time about the point of aligning projects to strategy to ensure that value is delivered – and that value is the important thing, not outputs. Well, this is hardly rocket science. Projects are the way to deliver strategy. You can have a lovely strategy, bu... Agile Finances on Projects: Schedule Management https://www.ProjectManagement.com/blog-post/58659/Agile-Finances-on-Projects--Schedule-Management Mon, 27 Jan 2020 14:00:01 GMT On this blog I’ve looked at different Knowledge Areas and how they apply to us as project managers, and also taken a budgeting and cost focus on a lot of articles. But what if you are managing an agile project? How do some of the financially-leaning Knowledge Areas work when you are working in... Collaborative Contracting: 5 Ways to Do It https://www.ProjectManagement.com/blog-post/58658/Collaborative-Contracting--5-Ways-to-Do-It Mon, 20 Jan 2020 14:00:01 GMT Are you working with suppliers on your project? Chances are you probably have – or if your current project doesn’t require external contractors/suppliers, then one in your future probably will. These days, it’s common to have suppliers partnering with you on a project because compa... What is Depreciation? https://www.ProjectManagement.com/blog-post/58657/What-is-Depreciation- Tue, 14 Jan 2020 14:00:02 GMT Depreciation. It’s something that you have probably heard about but might not be using day-to-day in your work as a project manager. However, if you are working towards the Project Management Professional (PMP)® exam, then you might already know you have to understand the basic concepts of... Standardising the Language of Risk [Video] https://www.ProjectManagement.com/blog-post/58656/Standardising-the-Language-of-Risk--Video-- Mon, 06 Jan 2020 13:59:58 GMT How do you talk about risk? Do you talk about negative and positive risk, or threats and opportunities? And do your colleagues use the same terminology? As a project manager, we need to be able to have conversations about risk – and make sure that the people we are talking to understand wha... What is Project Cost Control? https://www.ProjectManagement.com/blog-post/58286/What-is-Project-Cost-Control- Fri, 20 Dec 2019 13:59:52 GMT This question: What is project cost control? comes up quite a lot. I’m not sure exactly why, but I think it’s to do with project managers wanting to make sure they are putting adequate measures in place to monitor and control spending. After all, it’s not our money. We are responsi... How to Reduce Complexity on Projects https://www.ProjectManagement.com/blog-post/58285/How-to-Reduce-Complexity-on-Projects Mon, 16 Dec 2019 13:59:58 GMT There are loads of things that make a project complex, and in the past I’ve written about criteria for complexity and what ‘true’ complexity means. However, I’m now leaning towards the opinion that if you think it’s complex, it’s complex. The benchmark from whi... Benefits of Risk Management [Video] https://www.ProjectManagement.com/blog-post/58282/Benefits-of-Risk-Management--Video-- Tue, 10 Dec 2019 13:59:56 GMT We all know we have to do risk management on projects. And beyond that, our businesses should have enterprise risk management in place, because… well… it’s the right thing to do. However, if you’ve ever had to convince a project sponsor that it’s worth spending tim...