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Earned value management is a technique that integrates scope, cost and time to highlight how the project has done in the past and predict how it is expected to do in the future. This article discusses a few basic concepts of EVM and is useful for anyone looking to get started on this topic, as well as for candidates preparing for certification.
The project workflow framework enables even the inexperienced project manager to use detailed step-by-step guidance, examples, tools and practical advice, freeing experienced project managers to manage programs and portfolios and promoting better use of project resources to reduce the cost of projects across all industries.
In this article, we look at the key to schedule success, historical and repeatable tasks, why schedules fail, how to eliminate the target date tango and build a schedule defense that manages the risks.
Continuing to develop a failing project is a big challenge. Improving the environment and culture to ensure successful delivery requires integrating the bottom-up approach from a small task level with a top-down orientation of strategic management. Learn how to diagnose failure and implement useful techniques.
Project managers must ensure that projects are aligned with business strategy and value creation for their company and its shareholders. The author demonstrates the importance of the bridge between the business and project worlds, even when there is not a clear link between their objectives. But one objective always remains the same: to create economic value.
Outside of the discipline of cost engineering, the concept of project levels isn’t well documented. That hasn’t stopped the spread of the concept, but without supporting documentation, project managers have been left to make up their own definitions. Let’s question our own creative definitions by exploring some common themes, then look at a best practice to help clear the fog. Finally, we’ll apply what we learn to our own projects and programs.
| A. | Long-term projects are challenging and offer a great sense of accomplishment, but there are some risks and procedural modifications to layer onto your usual processes if you hope to be successful. Thinking ahead is crucial, as any errors or missed estimates are magnified. |
| B. | Large projects are scary at first, but because you have so much time and such a large budget, it is easier to balance small errors and still come out within your original metrics. Just be sure the team is signed to a contract of at least six months past the estimated completion date. |
| C. | Projects that will take more than six months and exceed $1 million dollars need more than one project manager. The escalation metric is simple: each quarter on the corporate calendar and each quarter of a million dollars added to the budget equal one additional project manager. |
| D. | Create a rolling staff plan for this endeavor, as people will get too bored and lose their ability to find creative solutions when a project drags on. Perhaps manning it with team members from a third-party staffing service is the most efficient choice. |
In fixed bid projects, effective project selection, vendor management, a good contract, organizational change management and project management all play a role in ensuring a positive outcome. In this article, the author discusses how to manage fixed bid IT projects with a focus on the vendor's perspective. The crucial phases in the lifecycle of a fixed bid project and how to effectively navigate them are examined.
Early on in the career of a project manager, there are things known, things that are unknown and things that he or she doesn’t know they don’t know. And therein lies the dilemma of estimating. There is no perfect estimate, and this is where the foundational techniques of estimating bridge the existing estimating gap that exists between senior leadership and the project manager.
Dividing your project into smaller parts that are more controllable helps you move closer to your ultimate goal: successfully achieving your project deliverables and high user satisfaction. Follow these seven tips to gain more direct control over your project.
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"Life is but a walking shadow, a poor player that struts and frets his hour upon the stage and then is heard of no more. It is a tale told by an idiot, full of sound and fury, signifying nothing." - William Shakespeare |
