Project success is often distilled into simple metrics like meeting budget or schedule, a single pass/fail criteria measured at a single point in time. But these outcomes are rarely fixed targets. In fact, they are often in fail territory for long periods of time prior to entering pass territory for the critical moment. Indeed, there... [Read More]| ProjectEngineer
Like termites that build their invisible kingdoms secretly and slowly, projects have a similar parasite that grows under the surface until it suddenly exposes itself with disastrous consequences. It's called scope creep, and it has eaten many projects alive. Scope creep is the unauthorized addition of tasks into a project. If the project manager is... [Read More]| ProjectEngineer
Project scope management is the second knowledge area in the Project Management Institute’s (PMI) Project Management Body of Knowledge (PMBOK). It includes the processes that ensure all of the required work (and only the required work!) is included in the project. In the PMBOK, scope management has six processes: Plan Scope Management Planning the process,... [Read More]| ProjectEngineer
Project management can feel like navigating a maze—tight budgets, shifting timelines, and endless variables vying for your attention. How do you know if you’re truly on track? Earned Value Analysis (EVA) is a powerful method that blends cost, schedule, and performance into a clear picture of project health. Whether you’re a seasoned PM or just... [Read More]| ProjectEngineer
Earned Value is a method used by project managers to calculate the current project status and predict future project performance. In this post we will outline each earned value formula. Planned Value (PV) Earned Value (EV) Actual Cost (AC) Schedule Variance (SV) Schedule Performance Index (SPI) Cost Variance (CV) Cost Performance Index (CPI) Budget at... [Read More]| ProjectEngineer
In this day and age, project success is no longer a matter of luck. So long as the project schedule and budget are realistic and achievable, project management fundamentals provide more than enough tools for the project manager to implement project controls that provide sufficient early warning of variances that require action. Projects, by their... [Read More]| ProjectEngineer
Let’s face it: managing a project can sometimes feel like a frantic dash to put out fires. A missed deadline here, a budget overrun there—too often, project managers end up reacting to chaos instead of steering the ship. But here's the truth: Putting out fires is rarely a good project management strategy. It’s exhausting, inefficient,... [Read More]| ProjectEngineer
Knowledge Areas Project Scope Management Plan Scope Management Collect Requirements Define Scope Create WBS Validate Scope Control Scope A project is made more manageable by breaking it down into components. In that spirit, the PMBOK requires the decomposition of the project into phases and tasks (also called activities). This task listing is called a Work... [Read More]| ProjectEngineer
Earned value analysis is used to calculate the project status on two fronts: Schedule. Is the project ahead of or behind schedule? Cost. Is the project over or under budget? Let's say you are the project manager for the renovation of 3 hotel rooms. The tasks are as follows: Preparation. Jan. 1 - Jan. 10,... [Read More]| ProjectEngineer
It's amazing how many projects do not know their true status until near the end, when there is little that can be done to ensure they finish on time or budget. The proper time to rigorously track project status is at the beginning, not at the end. This is when project risk can be managed... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks In an effective project risk management system, the project managers must focus their attention on the highest priority risks. Thus, upon determination of the primary risks to a project, this step seeks to sort the list into priorities and... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks Project risk is defined by the Project Management Institute as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Risk management is the process of identifying, analyzing,... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks The first step in a good risk management plan is the identification of risks. The other phases of project risk management are built on the foundation built here. A comprehensive list of potential risks to the project must be... [Read More]| ProjectEngineer