What comes to mind when you ponder the possibility of engaging a consultant? Dread or excitement? The high cost or opportunity for growth? Most of us have heard good things and bad things about using consultants, most of which are true.
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Many consulting engagements see frustrated consultants because they are not allowed to do what they feel is needed to maximize the chances of success. Here, we look at how these scenarios can be avoided--something that starts with trust.
Consultants can be a helpful resource on a project or they can take up valuable space. Here are some ideas for the best way to deal with consultants and make sure they are beneficial to the project.
Why is LOE as important for a project as other aspects like stakeholder satisfaction, cost overshoot and schedule variance? And are you approaching it the right way?
Choosing the best framework or methodology requires thought, but be careful not to overanalyze it. PMs can gain valuable insight from Bruce Lee’s philosophies, which offer a sound approach to achieve success in any area.
There is one aspect of project management where it's rare to find any consistency at all within PMOs: project financials. Let’s look at some of the different options and see if we can figure out some models that might work effectively.
The best part about Project Cost Management is that there are only three processes. And while the first two processes are light dumbbell lifting, the third throws some heavy barbell exercises your way. Are you prepared?
Nothing comes free, but do you understand the true cost? When we look for ways to improve business efficiency, we consider two primary factors. But sometimes organizations push so hard for efficiency that they ignore the potential impact--and that’s when the problems start.
Whatever the approach, mandate or processes adopted by each organization, you as the PM should be aware of the following best practices and ensure that they are adopted in one way or the other to guarantee your project’s financial transparency.
Since it’s the cold season, we wanted to share a list of maladies that will take your project down if you aren't paying attention or fail to keep your guard up. Each are preventable, and as the old saying goes: an ounce of prevention is worth a pound of cure.