Many, if not most, project issues can be traced back to poor communication. Like an airplane with many parts, projects are an interconnected network of stakeholders attempting to accomplish a goal. If even the smallest part malfunctions during the flight, disaster can strike. Project communications management are the tasks that are performed to ensure that the … [Read more...]
Procurement can be one of the most challenging roads that the project manager must travel. The legal implications, documentation, and vendor and supplier management responsibilities can introduce speed bumps that can have a significant impact on project success. We know, because we've been there. In short, project procurement can make or break a project. In that … [Read more...]
In the bustling world of productivity, where deadlines often loom like ominous clouds, there exists a secret weapon, often underestimated but incredibly potent: Accountability. Imagine accountability as that friend who nudges you out of bed for a run or the one who keeps you from hitting the snooze button one too many times. Of course, you don't want to get out of bed … [Read more...]
Due to expertise or resource constraints, many projects require external resources to complete their work. These resources can come from either the project's parent organization or from external sources. But regardless of how they are obtained, project procurement is one of the most exciting areas of project management but also results in the biggest headeaches for the … [Read more...]
A Statement of Work (SOW) is a project management document which describes the work that is required of an external contractor, vendor, or supplier. It can either be included within the contract documents or simply be a reference for the project management team. Also called Terms of Reference, the more generic Statement of Work is used by the Project Management Body of … [Read more...]
Top Down estimating is a project estimating technique whereby the overall project is estimated first, and individual tasks are apportioned from it. You start from the top of the pyramid and work downwards. This type of project budgeting usually occurs when there is a fixed budget and/or the scope of the project must fit within a predetermined funding level, … [Read more...]
Stakeholders are indeed the lifeblood of any project. From project inception through to completion, stakeholders contribute vital resources, insights, and support. Their engagement ensures that the project remains aligned with its goals and responsive to changes in a positive way. Stakeholders are as unique as the human race. Whether investors funding the project, … [Read more...]
All projects have stakeholders. Like any area of life, no projects exist inside of a bubble. Although some come close, every project must have a project sponsor (as a minimum) who created the project and expects some sort of deliverable. But most projects have so many stakeholders that they must maintain a list in order to manage them all properly. In project … [Read more...]
Mismanaging project costs is the single fastest way to cause project failure. Project costs represent the many multi-faceted experiences that occur on a project, however stakeholders see only the bottom line and draw rapid conclusions from it. For this reason, the planning of the management of project costs is the focus of the Project Management Body of Knowledge's … [Read more...]
Keeping project costs under control can feel like swimming against the current sometimes. To prevent you from going up the creek without a paddle, a Cost Management Plan is the guiding document which allows you to take fast, decisive action when issues arise and the sharks are circling. The Project Cost Management Plan is the component of the overall Project … [Read more...]
