Complicating the Project: When Simple Math Will Do
byWhy inject complexity into your projects when elementary math will suffice? Cut through the quantification using these three simple formulas when engaging with stakeholders.
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Upcoming Webinars
The Agile Enterprise: Estimate or #noestimate? What is the Agile Way?
Mar 13, 2020 9:00 AM EDT (UTC-4)
PREMIUM webinar
This webinar looks at the #noestimate approach, a revolutionary approach seen by some Agile teams as a waste reduction, team morale improvement and of course the elimination of one of the most dreadful activities in "waterfall". The webinar is based on the presenter's practical experience as a Project Manager and Development Manager, including real life examples of the benefits and pitfalls of estimation and lack of estimation.
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The Agile Enterprise: Managing Financial Aspects in Agile Projects
In an Agile organization, most of the financial planning and reporting should not be necessary. However, very few organizations have the necessary conditions to abolish tight financial management. This webinar will propose a few financial management approaches for Agile projects, highlighting the necessity as well as the challenges of each of the proposed models.
Steps in Designing an Integrated Enterprise Project Management System for Effective Cost and Performance Reporting
Using waterfall, agile, and change management techniques, this webinar will cover the configuration points in designing an Enterprise Project Management system to allow data integration across existing Enterprise Resource Planning (ERP) systems. Project Managers will be able to better understand whether their projects are within agreed thresholds and how to better manage compensation events.
Save Time With Tools + Templates
Project Charter for Task, Resource & Cost Estimation
PREMIUM deliverable
by
This project charter includes sections for allocating phase owners and tasks; timelines; budget/resource allocation; and cost estimation. Adapt it to fit your project.
Project Resources Budgetary Analytics Tool
deliverable
by
This template is designed to show projected budget costs for project human resources (a consulting team, for example) and provide a comparative analysis of actual money spent on those resources and hours used to date by those resources. It can be easily updated as desired (weekly, monthly, quarterly, etc.). The tool provides an immediate illustration of the state of the project at any point along the project life cycle by showing whether the money and hours utilized to date are above, at or below the projected budget amount.
Profit-Loss Template
PREMIUM deliverable
by
This Excel sheet helps you track monetary trends for various project items and plots a graph summary based on your entries. Adapt the items and expenses to suit your project.
Overview of the Project Management Process
presentation
by
While actively participating in mentorship during a project with a local design/build firm, this practitioner compiled an overview of the project management process as detailed in PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Use this overview with other project managers as a tool to reference in your day-to-day PM activities (as well as share with new project managers).
Learn From Others
Topic Teasers Vol. 129: Preparing for Recession
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Question: I am the project manager in a small business? Oh, wait…I’m also one of the owners. My partners and I are concerned with what we read and hear in the news about a possible upcoming recession. We’re not sure how to adjust our projects and our other business practices to have the best shot of surviving if an economic downturn occurs. How can I use my project management skills to set up a “Live Through It Successfully” project?
How Much Time Should Be Spent Planning?
byHow long should we spend on planning as a proportion of the project lifecycle? That's a very good question, and one this practitioner often gets asked. So, is there an answer?
Performing Cost Control in Construction
byThis article describes construction project cost control techniques without the use of special tools or software…and with the help of organizational process assets (OPAs).
The Limits of the Linear Approach to Schedule Variance
byIn this article, schedule variance is modeled to show the comparison and relationship of actual project progress and the schedule baseline. The underlying linear model of the schedule performance index (SPI) is explained and visualized with the budget square chart. The limits of the linear SPI approach are shown, and then an improved non-linear visualization is explored.
The Earned Value Budget Square
byThe article is devoted to the underlying mathematical concepts of earned value: linear function, Cartesian coordinates and tangent. The EV visualization named “budget square” is derived from these concepts—and helps us master the earned value concept for both certification and practical needs.
How to Model Testing in a Project Plan
byWe all know the last thing you do in the project is test it. The question, however, is how to plan for it. The problem with many project plans is that they don't allow for a situation where the test fails, which is almost inevitable. Here's some help.
Topic Teasers Vol. 121: A Project Management Pricing Strategy
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Question: As a part of the new project management office in my company, I have been asked to become involved in setting a pricing strategy for the organization. That appears absolutely no place in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), and I have no idea how to begin. Am I to be planning just the cost for the people on the project team, or do I need to know about other organizational costs? Are they actually going to use my work to decide how much our customers will pay? Eek!
3 Ways to Improve Project Financial Sustainability
byAs a project manager, you’re used to focusing on the project itself. That makes sense when it comes to hitting deadlines and making your budget. There’s a gap though. You might be hurting the organization’s financial sustainability.
Staying Sustainable After Launch
byMost projects don't end with their launch date—they have an active lifespan and eventual decommissioning. Do you know what the true end-to-end cost of your project is?
Size Estimation – Some Thoughts From the Trenches
byEstimating something to be developed in a product—something that has not been done before—involves inherent uncertainty, not the least about how much work is required to produce a finished product. Estimation is about having a grip on the size of a project in terms of the amount of work, complexity or functionality, and is critical to the business.
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