The project manager is the ultimate authority responsible for the successful completion of a project. They establish the critical success factors and take responsibility for achieving them. The buck stops here. Usually the project manager inherits requirements that the project must work with, such as budget, stakeholder concerns, and so forth. These are codified … [Read more...]
Most projects have a million things that can go wrong. Because a project is by definition temporary, it is inevitable that the budget and schedule factor prominently in project success. But it is a surprisingly common scenario that project managers think the project is going great because the variables they are concerned with are on track (usually the deadlines and … [Read more...]
Projects don't manage themselves. Professional project management requires the development of a plan that outlines how it will be managed. According to the Project Management Body of Knowledge (section 4.2), the project management plan fulfills this purpose. Although it includes any and all items that define the management of the project, there are certain … [Read more...]
A baseline is defined as a time-based standard against which performance is measured. A project baseline is a time-based, progressive plan as opposed to one, single target value. Projects will often have a single, target value, but it is important to know if the project is in good health at any given intermediate project control point. The baseline … [Read more...]
The project plan is like the flight plan filed by a pilot prior to embarking on a journey. It communicates how the project will attempt to reach its destination. The project plan is the strategy that will be used to produce the project's products, services, or results. It is written in sufficient detail to communicate to executives and stakeholders how the … [Read more...]
The art of making a decision is a daily occurrence for most people, both at home and at work. We've all experienced projects where the best path forward is unclear, or there is no option without a major negative side effect. What does the science say about decision making that could help us? Decision making is the process of choosing a course of action from … [Read more...]
A project feasibility study is a report that investigates the viability of a project. It seeks to provide its stakeholders with an analysis that results in a go/no-go decision. Feasibility studies are performed in a variety of industries. They are prominent in the oil & gas, mining, or renewable energy industries, or manufacturing industry for new plant … [Read more...]
Poor project cost management is one of the easiest ways to make a project go awry. Hence, good project management requires a firm grasp on the concepts and techniques in project budgeting and cost control. Thankfully, the Project Management Body of Knowledge (PMBOK) gives us a strong foundation in this area. Project Cost Management is the fourth of 10 project … [Read more...]
Putting out fires is rarely a good project management strategy. Project controls are where the project manager earns their wages. Assigning work to someone is relatively easy, but how do you ensure the quality of the work is acceptable, or that the deadlines will be met? Fortunately, project management theory contains techniques which are used to track and … [Read more...]
