Project Hero Blog

More Project Management Best Practice Tips

PM Tip, Week of 13 October 2019

#tip #accidentalpm #navigatinguncertainty

Finishing up Risk Assessment Framework: Successfully Navigating Uncertainty this week ... launch date soon!

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PM Tip, Week of 29 September 2019

Another tip from my new book, Risk Assessment Framework: Successfully Navigating Uncertainty, with publication planned for November. Watch for more details in October.

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Managing Risks of Fixed Costs

Last week we looked at fixed schedule, so its only natural to want to look at fixed costs too. Or perhaps I should more precisely say "fixed price" since fixed costs have a connotation of overhead. And there's a further clarification to make as well (finances are so much more complex than schedule and time) -- we're talking about risk to the seller. Many buyers like fixed prices since they know exactly what their budget will be, but its the seller who has to manage most, if not all, of the risk.
Now with the clarifications aside, here's my top 5 list:
1. Well defined scope and specifications: Having a well defined project scope and necessary specifications will make it easier to manage and estimate. Uncertainty leads to errors.
2. Diligently completed estimates: if there was ever a time to be cautious in estimating, this is it. Obviously you're not going to be able to "sandbag", but a carefully thought out and documented estimate provides a solid basis for success. Be...
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PM Tip, Week of 15 September 2019

From Risk Assessment Framework: Successfully Navigating Uncertainty. Look for news of publication in late October, early November.
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