In project management, getting an early indication of problems is the silver bullet that allows the project manager to correct the problems before they start. Schedule Variance, usually abbreviated as SV, is one of the fundamental outputs of the Earned Value Management System. It tells the project manager how far ahead or behind the project is at the point of analysis, … [Read more...]
Although projects span a huge spectrum from big to small, innovative to routine, and technical to repetitive, there is in fact a standard project organization chart within which all projects fall. With the exception of a few variable parts all project fit into a standard mold. According to project management theory, each member of a project is, in fact, very well … [Read more...]
Estimating task durations is one of the fundamental parts of project management. It involves the estimation of the amount of time required by a certain project activity given the available resources. This happen directly after cost estimating. In the Project Management Body of Knowledge (PMBOK), the main output of the Estimate Activity Duration process are Activity … [Read more...]
Developing a functional schedule requires that tasks have dependencies. That means they have relationships to one another, they are not orphans adrift at sea. All Tasks Should have a Dependency The Project Management Body of Knowledge (PMBOK) states that all tasks should have a dependency. This is because by definition, if a task is part of a project it must be related … [Read more...]
If there is only one foundational part of project management, it would have to be breaking down the project into manageable parts. Those parts are called phases and tasks. Everything else is built upon that foundation, so it should not be taken lightly. Although it seems trivial, it is one of the most important parts of a project manager's job. Example Task List In … [Read more...]
The project deadlines are firm but the resources are occupied. The deadlines have been tightened but the quality must stay the same. The customer wants the highest quality product at the lowest cost. These are some of the many issues a project manager must deal with on a daily basis. On a foundational level, the project manager must balance the cost-quality-time … [Read more...]
In a proper project risk analysis, once the risks to the project have been identified (step 1), their probability and impact given a value and an overall priority (step 2), risk responses are drawn up (step 3). For each response plan, trigger conditions should be identified. These are the conditions that warrant the implementation of the response plan. For example, an … [Read more...]
Risk analysis is an often omitted area of project management, probably because you can't see its results in a direct way. On top of that, small projects just don't seem like they have the time and budget to justify the time spent. But I would argue that analyzing risk is one of the easiest ways to prevent major headaches later on, and it pays for itself in costs that … [Read more...]
The first step in a good risk management plan is the identification of risks. The other phases of project risk management are built on this foundation. It involves developing a list of the potential risks to a project. This list is called a Risk Register. A good risk register might have the following six columns: Name/Description of … [Read more...]
Project planning is immensely underrated. Everyone has a story of how they could have planned better to avoid a disaster, even if they didn’t look back and realise it. The Project Management Institute suggests that planning should ideally consist of about 20 – 30% of the time required to perform the project work. This is substantially more than most project managers … [Read more...]
