One of the best ways of selecting a project is by utilizing economic value added (EVA) methodology. This methodology is also considered a criterion of project acceptance. EVA requires effective collaboration between finance and project management, an alliance that not only enables the project management professionals to understand how the company's finance works, but also allows them to assist business leaders in making better financial decisions.
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Project Management and Planning in Telecommunication Restoration Projects: The Key to Success in Flood Disaster Recoveryby
Most restoration and re-construction projects are managed and planned in a professional manner, with proper planning in project management being the key to their success. In this article, we will focus on projects relating to the restoration of telecommunication infrastructure in flood-affected areas.
One needs only to "Google" lean project management (LPM) to appreciate the call for a new, more streamlined approach to project management. Is the so-called lean approach to project management necessarily different from traditional project management? If the answer is yes, what is LPM, and more importantly, how does it foster more efficient accomplishment of project work? The purpose of this paper is to explore the concept of LPM by examining a Fortune 100 organization's application of lean to some of its project work.
Many projects are unsuccessful and fail to get completed within budget and timelines. One of the underlying causes for their failure can be attributed to unaligned and weak processes that result from a combination of problems such as feeble project management, poor cost estimation, poor planning and scheduling, inadequate requirements management, and inappropriate contingency planning, as well as many others. To maximize a project's performance and enhance the probability of its success, every organization needs to build a better project management process dedicated to meeting the customer's most important needs.
The communities confronted with disaster, destruction, and displacement in any part of the world are faced with numerous challenges. In most cases, the impact of disaster is greatest for women and children, second only to the destruction of civic infrastructure .The launching of relief projects that include well planned and organized education projects not only assist in enhancing the educational level and skill development of children, but also reduce the their psychological trauma.
Scenario: A particular software development project is underway, but progress is slow, even with the required resources on board. Technical issues are compounded by changing requirements, and planning is complicated by development resources getting pulled into support work on existing products. Quality has been compromised. The problem described above is an example of what we view as a work process issue. This is in contrast to what we have called, in a companion paper ("IT Project Management: The Role of Governance"), a governance issue.
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) is the master book for project managers, however, it is often subject to personal interpretation. This paper presents the conceptual steps needed to use the PMBOK® Guide processes in accordance with the projects that need it. It is about the integration Knowledge Area, and it covers why phases of a project life cycle should not be considered as a part of the Project Management Process Groups referenced in the PMBOK® Guide. It also explains how to use the processes groups within the project life cycle.
Companies that have been forced to virtually eliminate budgets for project information tools, file management tools, and communication tools risk having key decision-makers making uninformed decision about projects because they did not know important information, such as project constraints, issues, risks, key team members, and project priorities. This article shows how to alleviate this problem, using Dreamweaver CS4 to create an executive dashboard, a project-detail dashboard, and a project summary report that allow unencumbered project updating and easy dashboard maintenance, all with very little cost.
The challenge addressed in this article is that of using earned value in an IT project of less than US$20 million with multiple solution partners, fixed cost contracts, no labor cost data, and an 18-month deadline. The discussion presents an example of an innovative use of a research and development (R&D)–based earned value technique. The software project overview is presented, traditional earned value reviewed, the derivation of the R&D approach is discussed, and the article closes with a look at the organizational benefit of the technique.
This article presents a variant on the use of schedule performance index (SPI) and schedule variance (SV) to manage schedule performance and includes a description, rationale, and explanation on how to apply the technique. An actual project, as well as examples, are used to illustrate the value and application of the technique. A basic understanding of earned value management (EVM) is required to understanding the article, whereas actual practice using earned value management, schedule performance index, and schedule variance is recommended.