Earned value reporting provides a clear snapshot of project performance, making it simple to communicate progress to senior management and stakeholders. While recipients may need a brief introduction to interpret the metrics, the process is straightforward. In this blog post, we’ll categorize and explore effective reporting methods tailored to three project scales: Small projects Medium-size... [Read More]| ProjectEngineer
Will your project finish over budget or under? Variance at Completion (VAC) in Earned Value Analysis gives you a crystal-clear forecast of the final Cost Variance (CV)—revealing the size of any expected overrun or savings. For project managers, VAC is a vital tool to act early, whether it’s requesting extra funding or reporting potential budget... [Read More]| ProjectEngineer
Struggling to keep your project on budget and on schedule? The To-Complete Performance Index (TCPI) in Earned Value Analysis is your key to staying on track. This powerful metric reveals the cost efficiency—building on the Cost Performance Index (CPI)—your team must achieve to complete the project within its financial targets. Simple to calculate and easy... [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
Carpenters have hammers, plumbers have wrenches, and programmers have computers. But does a project manager have any tools which help them perform their work better, quicker, or cheaper? Absolutely! In fact, if you don't use these tools you will be at a serious disadvantage to other project managers. And if you do, your career will... [Read More]| ProjectEngineer
Accurate project estimating is a cornerstone of effective project management, as stakeholders demand clarity on costs within fixed budgets. The Rough Order of Magnitude (ROM) estimate is the initial cost projection in a project’s life cycle, used to screen potential projects or secure funding approval. Regularly refined at key milestones, the ROM estimate sets the... [Read More]| ProjectEngineer
On January 28, 1986, the NASA Space Shuttle Challenger erupted in a fiery spectacle just 73 seconds after launch, unraveling before one of the largest live television audiences ever recorded at the time. The investigation that followed pinned the catastrophe on a seemingly minor detail: the failure of several O-rings—rubber seals, roughly a foot in... [Read More]| ProjectEngineer
Bottom up estimating is the project management technique of estimating individual tasks and then combining them into an overall project estimate. Often the individual project team members who will be performing the task provide the estimates, because they are in a better position to estimate a task that they will be working on. Types of... [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
Parametric estimating is a topic whose inclusion on the PMP Exam is a virtual certainty. As such, this article is assured to give you at least one point (but more likely four or five). What is Parametric Estimating? Parametric estimating is a project estimation technique whereby a unit rate is used and multiplied by the number... [Read More]| ProjectEngineer
