Seldom do our bosses hear how we project managers prove quantifiable cost savings directly from our efforts. Here’s how one practitioner did so in surprising fashion, with five conclusions to share that can help you prove your worth.
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Advance Your Career
With rising environmental concerns and global warming, there is an increase demand for electricity and other alternative energy sources around the globe, to deliver clean, reliable and affordable energy. Energy industries encompass a broad group of sectors - oil and natural gas, coal, nuclear, wind, solar, hydro, geothermal etc. Each of these industries contain very different types of organizations, and what constitutes risk in wind projects is far different than in nuclear. But they all share a similar challenge; to produce more energy at a lower cost with fewer emissions.
During a Crisis, managing projects become extremely critical as we may experience Cost & Schedule overruns, unidentified Changes & Risks that creates an imbalance. Focusing on Priority Knowledge areas of PMBOK during a crisis, helps us stay aligned to the Program GOAL's & the Organization Targets. An approach to consolidate the projects of a Program or a Portfolio in a single shell will be my call during this webinar - with my personalized model that can give an "Effective Approach".
Save Time With Tools + Templates
The project financial analysis template calculates key metrics to determine the business case for a project. The template is an Excel file that can be used by a project manager, project sponsor or a relevant professional to determine if a project should be pursued.
The Project Portfolio Dashboard is a template for portfolio/project managers to present the status of multiple projects in one file. It helps the PMs to track the financial health of a project, and also helps highlight when actions are required for projects that have cost overruns. Most suitable for small to medium software development projects.
This template is meant to guide the preparation of a financial management plan for a project. Generally, these types of plans are used in construction projects with long-time execution, such as EPC projects. Depending on the type of project and the delivery method, this template must be adapted according to the contractual requirements and company standards.
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).
This checklist provides ideas for reducing, containing or preventing costs during contract negotiations for technology projects.
Learn From Others
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.
The goal of any project is to satisfy key stakeholders. But what is a stakeholder, and what is meant by "key stakeholder"? This series continues to help build a foundation of project management knowledge as it also looks at the triple constraint.
Running projects for a not-for-profit organization is a wonderfully worthwhile endeavor. Here are 10 ways you can keep costs off your budget and still deliver value.