A Value Study attempts to improve the value of a project using value engineering methodology. This is defined by the Value Methodology Standard, published by SAVE International. Typically, a value engineering team meets for 1-3 weeks, during which they work through the "job plan" as outlined by the standard. According to the Value Methodology standard, there are 6 … [Read more...]
In my industry, value engineering is something that's codified in the standard specification book, the one that's tossed into every contract to define the standards for the project. It allows a Contractor to approach the owner/consultant and request design changes. If approved, the savings are shared with the Contractor. I've never seen the clause used, although I can … [Read more...]
In project management, a Work Breakdown Structure (WBS) is a planning tool whereby the project scope is divided into logical sub-components. It is a graphical representation of the project scope and forms the basis for further planning, such as the cost and schedule. It is not a scheduling or costing tool. A good WBS should be created in advance of the schedule to keep the … [Read more...]
Scope issues are the #1 reason for project failure. Today more than ever, it's imperative that all projects need a scope management plan. In its absence, project stakeholders tend to assume the project boundaries in their favor, and the result is generally not good. If there's one thing a project manager can do to make project run smoother, it's to establish the scope … [Read more...]
I was once part of a project which went behind schedule and over budget. The project manager asked the project team, which included me, to come up with reasons why the project was late. Naturally the team produced several reasons, and a scope change request along with a new budget was sent to the client. Everything sounded like it was back on track. This sequence of … [Read more...]
I was once part of a project which went behind schedule and over budget. The project manager asked the project team, which included me, to come up with reasons why the project was late. Naturally the team produced several reasons, and a scope change request, along with a new budget was sent to the client. Everything sounded like it was back on track. This sequence of … [Read more...]
So you want to learn about project management, but have been putting it off into the "one day" basket? Or maybe you're already familiar with project management techniques and would like to brush up on your skills. In either case, you're not alone. You've come to the right place. A few months ago I was having lunch with an old colleague who told me he wanted to be … [Read more...]
A Requirements Traceability Matrix is a project management tool that provides a formal way to track project requirements. It links project (or product) requirements from their origins to the deliverables that satisfy them. At the outset of each project, prior to even the scope statement, the requirements should be identified and prioritized. Things like paint quality … [Read more...]
Of all the voices in my head, the ones that makes me lose sleep at night sound something like this: You've sold me a bad product. or This is not worth the money! or I'm never using this company again! The sum of your customer's complaints, needs, and wants is called the voice of the customer. It is whispering to you every day, so ignore it at your own … [Read more...]
Rolling wave planning is a project management technique that involves more detailed planning for short term than long term work items. As each item is gets closer, it is planned in greater and greater detail. Kind of like surfers who are far more interested in the current wave than the next one (until they get there). If that sounds simple, it is (much simpler than … [Read more...]
