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Archive | February, 2016

Project Cost Benefit Analysis

A project’s cost benefit analysis is important in any organization, especially in the banking sector. It always comes down to costs and benefits. The perceived value of a project and the prognosis for approval heavily depend on the ability of the project manager and sponsor to show how it benefits the organization. The tool most often used […]

Consulting Project WBS

A key part of a good consulting project plan is the work breakdown structure (WBS). We begin by defining the scope and major deliverables of the project with the client. This is when we start managing the client’s expectations about what the project will deliver. With agreement on the scope and high level deliverables, we […]

Project Tracking Reports

The way you deliver your project tracking reports does a lot to determine your success as a project manager. Project management is often a stepping-stone to higher-level positions. Your delivery of the tracking report also determines your credibility with the sponsor and stakeholders. It impacts their level of comfort with the project itself and your ability to manage it. You […]

Project Charter

The project charter documents the project’s scope, objectives, resources, risks, assumptions, change control and the project manager’s authority. It should let the project manager identify problems and conflicts early so they can be resolved before the project work starts. It should help the project manager cope with the executive’s expectations about the project and how the PM will […]

Project Lessons Learned

The project lessons learned process is ineffective in most organizations. One project after another suffers from the same mistakes.  What is even worse is that the bigger the project failure, the less likely they are to learn from it.  The same issues that cause a project to fail also prevent the people involved from learning from […]

Certified Associate Project Manager (CAPM)®

One path for beginning your project manager career is getting the Certified Associate in Project Management CAPM® credential. This is an internationally recognized certification from the Project Management Institute (PMI)®. This credential is an effective resume-builder because you learn the language of project management and its processes, techniques, terms and definitions.  Project Manager Certifications Main Page There is no project management […]

How to Write a Weekly Status Report – Video

When you write your weekly status report, remember that it’s your best opportunity to address any concerns of your project sponsor. It’s also an opportunity to get support and decisions that you need to finish the project successfully. Let’s think about the sponsor’s perspective of a new project manager with whom he or she is […]

Project Charter Template

Use this project charter template to create the charter at the end of the project initiation process. This is after you have the scope information, the statement of work (SOW) from the sponsor and before the detailed planning begins. It includes the following: scope major deliverables assumptions constraints risks required resources and change control.  Starting work is still […]

Critical Path

The critical path is the longest sequence of tasks in a project. The tasks on the critical path control the duration of the entire project. Any increase in duration of a critical path task will always cause the project’s duration to increase. The Critical Path is a great tool to help you shorten the duration […]

Project Schedule – How To Finish Earlier Video

Requests to shorten the project schedule and finish earlier are a regular part of managing a project. The first requests to shorten the schedule come almost immediately after you release the first draft of the schedule, when the project is still in the planning phase. The sponsor and stakeholders all come to you with reasons […]

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