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Earn Your Value: Unlocking Project Success with Earned Value Management cost management technical Sep 01, 2024

In project management, where time and money are often at a premium, keeping projects on track and within budget is essential. Yet, understanding a project's actual progress can be a complex task. Enter Earned Value Management (EVM), a powerful project management technique that provides a clear picture of project performance by integrating scope, schedule, and cost.

EVM goes beyond basic project...

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Mastering the Art of Project Planning cost management project integration management resource management risk management schedule management scope management technical Dec 17, 2023

In the dynamic landscape of project management, the ability to master the art of project planning stands as a crucial skill. Effective project planning lays the foundation for success, ensuring that objectives are met, resources are utilized optimally, and potential risks are mitigated. Let’s dive into project planning, providing a guide to help professionals navigate the complexities of...

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Creating a Project Budget: Tips and Tricks cost management technical Mar 05, 2023

Creating a project budget is a critical task in project management. A well-planned and executed budget can help ensure project success by providing a framework for controlling project costs and resources. However, project budgeting can be challenging, especially for new project managers. Today, we’ll look at tips and tricks for creating a successful project budget.

One of the most...

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Effective Project Management Metrics cost management people project integration management quality management resource management risk management scope management stakeholder management Feb 12, 2023

Effective project management is all about ensuring that your project is completed on time, within budget, to the required level of quality, and delights the customer. One of the key ways to do this is by using metrics to track the progress of your project and identify any potential issues before they become problems. Let’s look at seven critical metrics that you should be monitoring as a...

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Nailing Down the Project Budget business cost management technical Dec 04, 2022

A completed project budget can help you determine if a project is financially viable. With it, you may spend what was expected and get the return on investment you want. But it takes many steps to get the best budget and nail it down before starting a project. Let's dive into what goes into creating that budget:

Define the Project

The first step in creating a budget is to clarify the project...

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The Importance of Documenting and Tracking Project Costs cost management technical Nov 06, 2022

It's no secret that projects can be expensive. Even working with a small team, labor and materials costs can add up quickly. It's essential to budget, track expenses, and know how much money flows in and out of your project—and when. The best way to do this is by monitoring your project costs and documenting everything, so nothing gets lost or forgotten. Let's look at why it is essential...

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Giving Your Project Team The Right Resources cost management people resource management Aug 14, 2022

One of the most critical tasks in project management is getting the right resources for the right project at the right time. This requires careful planning and communication, especially when tight budgets or other limitations exist. Resource management is a critical element of project management. Resource management is the process of planning, organizing, and controlling the allocation of...

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PERT and FPA Estimates - Not Just for Schedules or Software Development cost management schedule management technical Jun 19, 2022

Despite many internet articles to the contrary, PERT (Program Evaluation Review Technique) and FPA (Function Point Analysis) estimates can be valuable for many projects outside of software-related industries and not just for scheduling.

PERT estimates are a part of a more extensive system and was designed to focus on schedules.  Its benefit is that it mathematically provides everything an...

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From Scratch: Starting a Business Without Capital business cost management Jun 12, 2022

[Project managers take note!  Starting a business from scratch and without capital is something you may do if you want to start a private practice.  Plus starting a project from scratch without capital is very similar.]

When you have little to no startup capital, founding a business can feel like climbing a mountain. Fortunately, the digital revolution has made starting up easier and...

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Project Cost Management Requires Flexibility cost management people May 29, 2022

[NOTE: Want to find out more about project cost management?  You're invited to the launch of PPC Group's new publication, Project Cost Management: Principles, Tools, Techniques, and Best Practices for Project Finance, by Ray Frohnhoefer and Inham Hassen, in June 2022. For more information and to register for the event, click here: ...

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