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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.
PMs don’t always have the right view of what makes a project successful. Our discipline has evolved and now requires us to have a much more complete view of how our projects impact organizations. Just how do you define "failure"?
It's inevitable--organizations will change the way that planning cycles are executed. For many organizations, this is a natural extension of the commitments that they are already making--EPMOs, strong and executive supported portfolio management, and results-focused execution. For others, this is a major shift. Here we explore some of the ways that annual planning can be improved.
There are many different methods a project manager can use to rebaseline the project plan. Unfortunately, the one most often used is reactive instead of proactive. Approach your rebaselining event in a careful and methodical manner to make it worthwhile and benefit the project.
In Public Private Partnership (PPP) projects, one of the most important activities in the project development cycle is the selection of a private partner with the requisite technical and financial capability. The author explains why best bidding practices should emphasize quantitative criteria, with examples that illustrate evaluation methodology and required documentation to receive the best “value for the money.”
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