Keeping project costs under control can feel like swimming against the current sometimes. To prevent you from going up the creek without a paddle, a Cost Management Plan is the guiding document which allows you to take fast, decisive action when issues arise and the sharks are circling. As a critical component of the overarching Project Management Plan, the Cost … [Read more...]
Stakeholders' influence on a project, whether through real or perceived effects, can range from minor to game-changing. It is without a doubt that they play a critical role in shaping a project’s success—or its challenges. A stakeholder is anyone impacted by the project. Some champion the project, while others may resist it, and their "stakes" vary in size and … [Read more...]
Gantt charts are a powerful way to visualize project timelines and tasks. In fact, they are one of (if not the) the most important tool in the project manager's toolbox. But that being said, they don’t have to be complicated! In this post, we’ll explore three simple Gantt chart examples that anyone can create, whether you’re managing a small project or planning a big … [Read more...]
Creating a Gantt chart in Microsoft Excel is easier than you might think! With just a basic understanding of Excel, you can build a clear and effective Gantt chart in about 10 minutes. In this guide, I’ll walk you through the simple steps to create one from scratch. Step 1: Enter the Task data The first step is to enter your tasks in table form in Excel. The following … [Read more...]
Election campaigns are intricate and dynamic endeavors that bear striking similarities to large-scale projects. Both are characterized by defined objectives, deadlines, a plethora of stakeholders, complex logistical requirements, and an extensive need for meticulous planning and execution. Indeed, the definition of a project is a temporary endeavor that produces a … [Read more...]
The Work Breakdown Structure (WBS) Dictionary is a vital companion to the Work Breakdown Structure (WBS), providing detailed metadata about project tasks. While the WBS outlines task names, such as 'Build Fence,' these names alone lack critical context. The WBS Dictionary enriches this framework by documenting essential details, ranging from task descriptions and … [Read more...]
Project scope issues are the number one reason for unhappy clients and customers. Human nature is such that unauthorized tasks will always want to slip into a project unannounced, thus project scope management is just as important as the more visible aspects of project management like scheduling and budgeting. For that reason, effective project scope management is … [Read more...]
By definition, most of the world is average. In today's fast-paced, ever-evolving business landscape, mediocrity often seems to dominate. From corporate cultures that settle for "good enough" to teams that lack motivation and drive, achieving high performance in project management can be a challenge akin to climbing a mountain without hiking boots. Yet, it is … [Read more...]
"The Budget at Completion (BAC) is a fundamental metric in earned value management, a critical component of effective project management. It represents the total approved budget for a project at its outset. For instance, if a project is allocated $10,000, the BAC is simply $10,000, requiring no additional formulas or calculations. " The Budget at Completion (BAC) is a … [Read more...]
Love it or hate it, the measuring stick for a project manager is often their ability to keep projects on time and under budget. Thankfully, project management methodologies provides us with a fantastic tool to keep us on target. But it has to be used correctly. Like any tool, Earned Value Management (EVM) requires proper training to unlock its potential—without it, … [Read more...]
