Poor schedule management is one of the leading causes of project failure; It often strains client relationships and derails outcomes, making it one of the most challenging aspects of project management. Every project, by definition, is a temporary endeavor with a clear endpoint (PMBOK 7th Edition, 1.1), making effective schedule management a cornerstone of project... [Read More]| ProjectEngineer
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 investment. For these reasons,... [Read More]| ProjectEngineer
According to the Project Management Institute, less than two thirds of projects meet their intended goals. The other one third are projects that end up with a drastically different scope than they began with, sometimes with different deliverables, or even get canceled outright. The project managers of these projects are not doing any favors for... [Read More]| ProjectEngineer
The way project managers define success is not always the same as the way the project sponsor does. In fact, 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 while being oblivious to an unhappy project sponsor that is... [Read More]| ProjectEngineer
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 within... [Read More]| ProjectEngineer
Project estimating requires predicting the future. Like ancient prophets and soothsayers, today's project managers are experts in telling people what is going to happen. The key to success, then, is to ensure that what actually happens is the same as the estimate. This might seem like magic sometimes, but it requires strong project cost estimation... [Read More]| ProjectEngineer
Three point estimating is a technique which utilizes an optimistic and pessimistic estimate to determine the ideal estimate value for a project task. It is a shoe-in for PMP exam questions, which is not likely to change anytime soon. It allows known risks to be quantified and built in to the project budget. Formula There... [Read More]| ProjectEngineer