Large swings in global financial markets have become a regular occurrence; some of the strongest economies have turned volatile, and political instability is a growing concern in many countries. This article discusses how project managers can address estimating pitfalls. It overviews today's changing business environment and how it is taking a toll on the project estimating process. The construction of a high-speed rail network in California, USA, whose cost soared to twice as much as previously estimated, is provided as an example. In addition, the article lists four tips for project managers who manage estimates throughout the project life cycle. A case study focusing on the project estimates to fix a key dam in Iraq accompanies the article.
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Recently, concerns have surfaced regarding the viability of the remaining three months of your project. Management wants quantitative evidence that it will finish successfully and on time. You need to act and act now. Before hitting the panic button, rely on these proven techniques to help achieve success.
You're leading the team to deliver...what more do they want?! This article highlights a few, simple best practices that--if introduced at the beginning of your project--might help you easily control costs along the way.
Why are project managers afraid to stop projects? So often after being assigned to a project, project managers try to run before they walk. This is especially common when the project is already in progress. You can quickly get caught up in the momentum of work and forget to question whether the work is justified. If this is truly the case, shouldn’t more projects be stopped? What if it means losing your job?
Name the season and name the reason, but many firms schedule shutdowns of their facilities and staff during certain periods as a means to put a temporary stop in operations to control costs. But there are many in the workforce who prefer to exercise their own individual control over these down times in order to keep their industry active, carry on their work and remain effective contributors.
Rather than being half empty, maybe the glass is actually half full. One writer argues that the opportunities for project management to make inroads in an organization are actually better now than they have been for many years. Let’s look at some different scenarios.
To be successful in achieving our goals, project managers need to build a culture of efficiency within their teams. In this article, we explore how we build that culture of efficiency without sacrificing project quality--a step made all the more challenging given the economic constraints we face today.
There’s no manual for a recession, so how do you stay effective in a bad economy? In this article, we look at how you as project managers can strive to balance the reality of managing projects in a tough economy with the desire to still do things “the right way”.
The Mayans may have had the first timeboxed project--they had a strict 2012 timebox cutoff with little room for extension (you know, since the world would no longer exist). Although agile methods have been preaching the benefits of fixed timeboxed schedules since their creation, it still raises concerns with many stakeholders. That's because timeboxing with flexing scope is the worst form of project compromise--until, that is, you try the alternatives.
Despite this global recession, the competitive landscape keeps becoming more urgent and faster paced. You will be expected to keep managing new projects to keep your organization competitive--but will do so with less (and exhausted) resources, tight budgets and more scrutiny for success. How does one meet such challenges and succeed? One of the agile practices tailor made for such an environment is the Lean method.