How well do we match our project portfolio ambitions with our ability to deliver? There are some considerations that a project organization should be assessing as it builds its annual budget and business plan.
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This article draws on well-known, basic project management concepts to introduce the high-level project management concepts of defined and empirical process control. It also attempts to contrast them and suggest how they might be used by PMPs in practice.
This paper aims to share a strategic perspective on capital allocation and how leveraging this capability, in collaboration with the corporate transformation office or project management office and corporate finance, portfolio managers can successfully steer organizations in pursuing value creation and maximizing shareholder value.
The attention paid to recording the recent project past can sometimes sound like a captain reading from a ship’s log—a very boring register that no one will ever want to read again. Instead, focus on the future.
As operating costs and demand care continues to soar, it has become imperative to minimize financial risk in healthcare design projects. Here are four strategies that emphasize ongoing prioritization, repurposing, and collaborative delivery.
The growth of agile and the increasing pace of all forms of project delivery have meant that the triple constraint is no longer the thing we all have to tattoo on our brains. But it is still important, and it is still heavily misunderstood. If it’s not helping, then it needs to adapt—and a new variable can help.
Question: Due to my success as a project manager in the traditional marketplace, I have opened my own business as a contractor for unique projects. I’m having some trouble with the financial side of things. How can I make sure I’m covering my own expenses and profit, while also protecting my customers from feeling uncertain about the cost for my services?
Organizations are recognizing that they need to go beyond the traditional metrics of scope, schedule and budget to determine project success—but those metrics still matter as indicators of how effective and efficient a company’s planning approach is.
In order to build accurate project budgets, a project manager must determine what costs they are responsible for managing as part of the project’s execution. Don't forget these types of costs, estimating techniques and calculations the next time you need to estimate a budget.
This article explains the cost pulse check process in IT project management, along with some examples and best practices a project manager can adopt to manage and represent financials realistically.