It’s not uncommon for organizations to have more plans than they have funds. That creates a dilemma: how to spend their budget. A capital improvement plan can guide an organization when it’s trying to figure out which large projects or…
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Few things are as risky as construction projects. There is heavy equipment, crews working in precarious situations and complicated logistics, safety hazards and risk factors to manage. How do you meet your deadline while managing all that risk? The answer…
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Businesses go through a lot. Managers must always be aware of the internal and external factors that can impact their business growth such as economic fluctuations, new competitors, new market trends and more. One of the most common threats to…
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Avoiding cost overrun is key to closing a successful project. The quality of deliverables and a timely execution can go out the window if the project is delivered over budget. Of course, it’s easy to say you’re going to keep…
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It’s a cliché to say that projects rarely deliver as planned, but it’s only a cliché because it’s true. As project issues arise, it’s important to take action. But how do you know what action to take? That’s where an…
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It’s a given that there will be changes to the project plan during the project execution phase. It’s impossible to factor in everything—from weather to supply chains to change requests—something is going to conspire against your schedule and budget. This…
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Before defining an issue log, let’s define project issues. An issue is any roadblock or unintended impact that directly affects your project’s timeline and or performance. It’s different than a risk, which can be defined as a potential problem or future…
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Uncertainty is a certainty in projects. Risks will arise and threaten the successful delivery of your project. Using a risk breakdown structure (RBS) is how you prepare for the unexpected. A risk breakdown structure is great for identifying and prioritizing…
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Projects are a series of decisions. Each decision should, ideally, be the result of thorough research, counseling from the team and historic data. Project managers use a decision log to keep stakeholders updated on who authorized a decision and how…
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Projects are delicate operations. There is so much that can impact them; a storm cutting off the supply chain, equipment failure or a labor dispute are merely three possible situations in a seemingly endless succession of risks. The risk response…
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Risk is always present in construction projects. By definition, construction risk feels unpredictable and damaging, but you can identify and manage them. You may feel you can control risk in your organization and construction management team—but what happens when you’re…
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All projects have risks, but not all risks are the same. There are many potential risks that can affect a project plan and you need to have a risk management process in place to manage them. This risk management process…
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You identify them, record them, monitor them and plan for them: risks are an inherent part of every project. Some project risks are bound to become problem areas—like executing a project over the holidays and having to plan the project…
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