Before you engage with a new project, there are certain things you have to know. Is the cost worth the return? Can you get it done properly by the deadline? Do you have the resources? Resource forecasting is how you…
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When you’re managing a project, the triple constraint should always be top of mind. But there’s a fourth constraint that’s just as important, yet sometimes forgotten by some project managers as they go through the project planning phase—project quality management….
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Making assumptions is usually frowned upon. However, in project management, project assumptions are essential for planning a project. But how do project assumptions differ from the assumptions that often mislead us in our daily lives? Let’s take a look at…
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Businesspeople tend to prefer meeting in person. But after a period of virtual events, it’s hard to let go of that digital luxury. Virtual event planning has become commonplace even as events return to IRL or offer hybrid options. The…
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Having an event is a like executing a project. It has a plan that’s executed by a team with a deadline with the final deliverable being the event. Just like a project, event management is the way you make sure…
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No one needs to tell you that projects cost money. But how much they’ll cost is an open question. The closer you can come to an accurate forecast of project costs, the more likely you’ll deliver a successful project. Rough…
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Creating a project plan is one of the most important responsibilities of a project manager. This document should include everything the team needs to execute a project, such as its budget, schedule, scope, resource requirements, roles & responsibilities, among other…
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One of the big challenges any organization faces is aligning its strategic planning and business goals with the projects it takes on. In small organizations, project prioritization isn’t always critical. On the other hand, in larger organizations, there can be…
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When you’re making a product, how do you ensure that all the desired capabilities are included in the final deliverable? That’s why a project requirements document (PRD) is so important. It communicates this information to everyone on the product team….
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There’s a lot riding on what project your organization moves forward with, especially if you’re managing a program or portfolio. The investment of money, time and effort can be huge, not to mention determining where to allocate your resources. The…
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As projects are all about the bottom line, you can imagine the importance of project profitability in project management. Being able to determine beforehand whether a project will turn a profit is how organizations can decide which projects to initiate…
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Every project, regardless of the industry, uses a methodology to estimate time and cost to better plan projects. In the life sciences, engineering and construction industries, the method often used is called parametric estimating. When dealing with a project that…
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Projects are planned and then life happens. Ideally, project managers know better than to execute their project plans without a performance measurement baseline. They need to know immediately if their team is on track or falling behind. Without that knowledge,…
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