A project has a beginning and an end, but without an objective, it’s a rudderless ship. In order to steer your project successfully and land in a safe harbor, you’re going to have to define your project objectives. What Are…
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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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Software development estimation is an essential part of many projects. Even before the planning stage, it’s critical to create an accurate forecast of the project’s duration, costs and more. Despite its importance, software development estimation is often overlooked. Maybe that’s…
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Well-run organizations don’t fly by the seat of their pants; they’re constantly working on business forecasting and business planning. Every decision and every process is based on data obtained from business forecasting, business intelligence tools, market research and scenario planning….
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You’ve likely heard that nearly half of all new businesses fail. According to the Small Business Association (SBA), 50 percent of businesses fail during the first five years. Over a 10-year span, the percentage increases to 66. But what can…
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Projects are designed to deliver a product or a service within a specific timeframe and budget, a process that the project manager oversees. If that person is a product manager, he or she may apply a product breakdown structure (PBS)….
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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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Projects are all about delivering a product or service. Whether you’re working in project management, manufacturing, supply chains or inventory management, you need to deliver something valuable to your customers. This is why lead time is so important. There are…
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Imagine that you’re taking the lead on a new IT project that involves building a call center from the network to the servers. The call center itself will house hundreds of jobs and will bridge the gap between customer and…
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Projects don’t just complete themselves. They need plans to direct them toward success. A strong project plan allows you to organize tasks and assign resources to execute them, all within a set budget and on a deadline. It’s unrealistic to…
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Plan all you want. But once that project or business plan is being executed, you’ll need a gap analysis to assess whether you’re meeting the requirements or you could be in trouble. As its name suggests, the gap analysis is a…
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You know how it goes—you’re a few months out from a deadline, and your team isn’t anywhere close to finishing the project. You’re quickly running out of budget and time, and you’re starting to stress. Should you tell the stakeholders,…
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It’s not easy for construction companies to make accurate budget forecasts. There are many variables to consider, from market to labor costs and always fluctuating prices. But creating a detailed budget is key to successful construction project management. One way…
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