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Archive | Project Costs & Budget

Earned Value Management

Earned Value Management  is an integrated set of tools for managing project progress and spotting variances from the plan.  These tools help you identify variances between actual performance in the project’s schedule and variances between actual costs and the project’s budget. Earned value management can also provide forecasts of the likely completion date and final cost […]

Cost-Benefit Analysis in Project Initiation

Cost-benefit analysis is a simple technique for comparing the business value a project will produce with the cost of producing it. Project managers use cost-benefit analysis in the project initiation phase to show the value of doing a project. During project initiation, the sponsor and project manager must justify the project to get the organization’s approval to spend the […]

Change Control Video – The Wrong Way & The Right Way

Change control is a constant challenge for project managers. They have to deal with stakeholders who want to submit scope changes. This occurs daily on some projects.  Project Change Control Main Page Change Control – The Wrong Way The project manager in this video faces two aggressive stakeholders who want to make significant additions to the scope […]

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 […]

Project Procurement

Agile Project Procurement (Comparing Apples to Oranges) In PowerPoint presentations, every project procurement solution works and every business case rocks but that’s not the case in real life. Bad project procurement planning and choosing the wrong solution are key risks in a project. This has been one of the most time and energy-consuming activities for me, […]

Keys to Successful Project Scheduling

Every project manager does project scheduling. Some do it on a yellow note pad, others use an Excel spreadsheet and still others use software specifically designed for project management. Some project managers have very little data to help them successfully managing their projects, deal with change orders or respond to variances. They may not even […]

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