By now most people have heard of the tragic events of October 21, 2021 involving the actor Alec Baldwin on the set of the movie, "Rust." In case you haven't, a loaded handgun was accidentally used in place of a prop, and was discharged during filming of the movie, killing the camera operator and injuring a producer. The details are easily found on the internet or read … [Read more...]
It's a surprisingly common occurrence that a project manager specifies a task as complete only to see more time, materials, and expenses charged to it the next week. Naturally, this is a frustrating situation. Of course, we want the task to be complete and we thus are motivated to check it off a soon as possible. There are often administrative and closing tasks that … [Read more...]
Parametric estimating is a guaranteed inclusion on the PMP Exam. This article is assured to give you at least one point (but more likely four or five). Parametric estimating is a project estimation technique whereby a unit rate is used and multiplied by the number of units. For example: A house building project is estimated at $120 per square foot A contractor … [Read more...]
In the dynamic world of project management, maintaining control over project spending is crucial for ensuring success and meeting stakeholder expectations. When project expenses spiral out of control, it can jeopardize timelines, quality, and overall project goals. One of the most effective tools to regain control is a well-crafted project scope statement. This document … [Read more...]
There is no universal definition of project success. Since the very definition of a project is temporary (Project Management Body of Knowledge, 6th Edition), virtually all projects must meet a deadline and budget. But some projects must satisfy certain stakeholders. Others must meet regulatory criteria. Still others must achieve a certain return on … [Read more...]
By now most people have heard about the disaster of the OceanGate Titan, the underwater submersible that imploded on its way down to the Titanic wreck site carrying five billionaires on a tourist mission. I'm genuinely surprised about how little the project management community is talking about this, because the lessons appear to be vast. Although the cause is not … [Read more...]
In 2005, when Airbus was in the development phase of the A380 Superjumbo, they announced a delay in the delivery of the first jet due to internal software issues. One year later, another delivery delay was announced. This time, however, several executives lost their jobs as the share price tumbled 26%. Could the delay have been avoided? Maybe, but this demonstrates … [Read more...]
Identifying risks is a central component of project risk management. Risks are identified using various methods and placed into a risk register. The risks are then analyzed and prioritized, and appropriate risk response plans are drawn up. I would like to update this list and keep it current, so if you have anything to add please leave a note in the comments … [Read more...]
The largest projects in the world, from the summer olympics to big petrochemical projects, have one major thing in common at the project management level: A relentless focus on risk. What happens if there is a riot? Or a catastrophic explosion? What if protestors disrupt the project, or regulatory agencies reject it? These large megaprojects must allocate a small but … [Read more...]
When I was a middle manager, I saw many goals that ended up as roadkill on the business superhighway. Whatever the flavor of the year was, that's what was reflected in the business goals. Things like: reducing dependence on one client, diversifying our service offerings, and others made the rounds through our business units. One year our vice president even said … [Read more...]
