March, 2021

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What is the Management Reserve for Project Budgets?

Project Risk Coach

Have you ever run out of money for a project? Unforeseen risks knock at your door. You look at your budget, but you don't have the funds to respond to these risks. Let's explore management reserves for projects, who controls them, and how to estimate the reserves. There is a better way to handle the unexpected. You can – assuming that your organization supports the concept of reserves – create a management reserve.

Budget 284
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AI in Project Management: An Interview with Lloyd Skinner

Rebel’s Guide to PM

Lloyd Skinner. Where is artificial intelligence taking project management? AI has turned up in the project management trends articles over the past few years and it’s now most definitely here to stay. I caught up with Lloyd Skinner, CEO at Greyfly , a consultancy specializing in improving project outcomes through the application of AI tools and experienced professionals, to talk about how AI is changing the way we lead projects.

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How to Make & Maintain a Project List

ProjectManager.com

A project list is the starting point for any project management process. They’re a great way to take what seems an insurmountable amount of disparate tasks and organize them. A project list can be as simple as a to-do list or a corral for many projects. Using a project list is so important it’s worth taking a moment to explore what it is, how to create one and how it fits into managing your project with project management software tools.

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One Year on Terra Firma

The Lazy Project Manager

It was (and I still can’t quite believe this) one year ago that I last stepped off a plane after a visit to Geneva and Zurich to deliver a series of presentations and workshops for CERN and PMI Switzerland. At approximately (this is flying after all, and Heathrow) 5:25pm GMT I walked off a plane without a clue as to what was about to happen (and I expect not alone in that either).

PMO 312
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The 2nd Generation of Innovation Management: A Survival Guide

Speaker: Chris Townsend, VP of Product Marketing, Wellspring

Over the past decade, companies have embraced innovation with enthusiasm—Chief Innovation Officers have been hired, and in-house incubators, accelerators, and co-creation labs have been launched. CEOs have spoken with passion about “making everyone an innovator” and the need “to disrupt our own business.” But after years of experimentation, senior leaders are asking: Is this still just an experiment, or are we in it for the long haul?

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Why ask for accountability when what we really need is ownership?

Kiron Bondale

Accountability is a popular word in delivery. It is one of the four classification categories in roles and responsibility tools such as R.A.C.I. charts. The underlying intent is sound. If multiple people are responsible for contributing to the completion of an activity or deliverable, we still want to have a single person who has overall responsibility for ensuring it was completed as promised.

Defining 335

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How to Make Better, Faster Decisions

Project Risk Coach

Our projects are the sum total of all the decisions we’ve made – budget decisions, schedule decisions, scope decisions, requirements, selection of team members, and the list goes on. My goal today is to help you make better project decisions. Here’s why – project managers and teams who make better decisions improve their chance for success. Think about how hard it is for you to make decisions alone.

Budget 397
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9 Types of Artifacts in Project Management

Rebel’s Guide to PM

In this article we’ll look at the types of artifacts in project management, typical documents for each type. There’s also a checklist of project artifacts by phase at the end, which you can use as an aide-memoire for creating your own documentation. What is an artifact? An artifact is something you create. In project management, artifacts relate to documents: the project documentation you produce that defines and supports the work you are doing.

Logistics 511
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How to Create a Small Business Plan: A Quick Guide

ProjectManager.com

All businesses experience change. These changes mean that small businesses need a structured plan to navigate their growth while staying on track to achieve long-term goals and objectives. This is where a small business plan comes in. Creating a thorough business plan that outlines a small business can seem like daunting work. In reality, the job can be done using common project planning methods and tools.

Planning 439
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YDS: Should a Scrum Team Estimate Bugs and Defects?

Scrum.org

On today’s episode of YOUR DAILY SCRUM: Should a Scrum Team Estimate Bugs and Defects? Today's question is about how a Scrum Team should handle bugs and defects. Todd and Ryan break down their past experiences handling the unexpected work that can happen when bugs and defects emerge. The big lesson here: don't turn into bug managers and work on your definition of done!

Estimate 238
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Breaking Ground on Better Payment Processes: Strategies for Construction Pros

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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Beware false accuracy with quantitative risk assessment

Kiron Bondale

This article represents the confluence of three separate concepts I read about this week. The first came when I read Michael Küsters’s article Why WSJF is Nonsense which details the downside of blindly ranking work packages based on the Weighted Shortest Job First (WSJF) formula. WSJF uses the ratio of the cost of delay to the relative effort required to complete a work package.

Risk 227
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Duration And Effort - Where Are the Differences?

Inloox

One of the most common usage mistakes, which still leads to a number of misunderstandings in today's everyday project work, is the confusion between effort and duration. It is important to know the differences, especially when it comes to project planning. This article will help you to better distinguish between those two terms in the future and to avoid misunderstandings in the project team.

Estimate 227
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How to Manage Stakeholder Conflict

Project Risk Coach

Project managers encounter conflict regularly over schedules, project priorities, human resources, requirements, and technical opinions, to name a few. Individuals, groups, and organizations have different opinions, sometimes strong opinions. These conflicts may surface internally, as well as externally. I once managed a project where the organization wanted to create a customer service representative (CSR) position for 158 remote locations.

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Rough Order of Magnitude (ROM) Estimate and How to Calculate It (with example)

Rebel’s Guide to PM

What is a ROM estimate used for? A rough order of magnitude estimate is used to give you a very high level view of potential project costs. Ideally, you’d be able to provide a definitive estimate, carefully created from loads of input from subject matter experts and plenty of research on past projects and their budgets. But in reality, we rarely have the time or luxury of being able to provide that level of estimate at the earliest stage of project.

Estimate 464
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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Best Construction Scheduling Software of 2021 for Managing Projects

ProjectManager.com

Construction projects can be big, complex and often unruly, with regulatory issues, safety concerns, equipment rentals, multiple teams and more. If you want to keep a construction project on track and meet your deadlines, you want construction scheduling software that is robust and dynamic. There are many construction scheduling software products on the market that sell themselves as the go-to tool for the construction project manager.

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Scrum Master Interview Questions (4): From Metrics to Kicking off Scrum to Scrum Anti-Patterns

Scrum.org

Some time ago, someone on Reddit asked whether there would be any other profession that requires attending a 2-day training class and would then pay as well as a Scrum Master job. This attitude is precisely why the 47 Scrum Master Interview Guide exists: Prevent imposters from slipping through the hiring process and causing damage. If you are looking to fill a position for a Scrum Master (or agile coach) in your organization, you may find the following 47 interview questions useful to identify t

SCRUM 235
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The allure of #NoEstimates

Kiron Bondale

A project manager asked me a question which I’ve frequently been posed over my career. How should I deal with a stakeholder who, when I provide a rough order of magnitude ranged estimate early in the life of a project, insists on holding me accountable to the lower end of that range later on even when sufficient evidence has emerged to contradict that value?

Estimate 218
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Simple Yet Effective Strategies For Measuring Productivity And Making Progress

nTask

Measuring productivity is vital for consistent improvement and development. Regular evaluations are a doorway to betterment. As much as performance management is important , developing strategies to gauge progress is not an easy feat. If you are having trouble finding ways to measure productivity then you are not alone. HR managers often find it difficult to measure the productivity of their employees since they do not have a standard ‘scale’ to measure the efficiency with.

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Prepare Now: 2025s Must-Know Trends For Product And Data Leaders

Speaker: Jay Allardyce, Deepak Vittal, Terrence Sheflin, and Mahyar Ghasemali

As we look ahead to 2025, business intelligence and data analytics are set to play pivotal roles in shaping success. Organizations are already starting to face a host of transformative trends as the year comes to a close, including the integration of AI in data analytics, an increased emphasis on real-time data insights, and the growing importance of user experience in BI solutions.

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Who Approves Your Project Change Requests?

Project Risk Coach

Who approves your project change requests? On one project, the sponsor tells the project manager to make the decisions. On other projects, the sponsor makes the decisions. And yet, in other cases, senior management gets involved. Your project may morph into a two-headed monster without an integrated change control process, resulting in adverse impacts to schedule, cost, and scope.

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9 Essential Project Management Competencies

Rebel’s Guide to PM

Project Management Rebels is a teaching-led group mentoring programme. It’s a library of curated resources with something new added each month. There are dozens of training videos at your fingertips from Day 1. It is open for enrolment through 16 April. Join today ! We’re almost through Quarter 1 and you’re thinking what a great year it’s been so far at work.

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Project Brief Template

ProjectManager.com

Whether you’re starting to work on a project plan or need to explain the project in broad terms to your stakeholders, you need a project brief to define all the main points. It’s the best way to inform and communicate the project summary. Get a head start on your project brief by downloading our free project brief template—all you’ll need to do is fill in the details.

Estimate 390
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Amplifying Agile Leadership

Scrum.org

One continuing problem we see with many of today’s business leaders is that they rarely adopt Agile at the leadership level. It’s not that they are resistant to the idea of creating an Agile organisation. Most understand the value of agility at the level of the project/delivery teams, but all too often they don’t see how it applies to them or feel that they are exempt.

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How to Drive Cost Savings, Efficiency Gains, and Sustainability Wins with MES

Speaker: Nikhil Joshi, Founder & President of Snic Solutions

Is your manufacturing operation reaching its efficiency potential? A Manufacturing Execution System (MES) could be the game-changer, helping you reduce waste, cut costs, and lower your carbon footprint. Join Nikhil Joshi, Founder & President of Snic Solutions, in this value-packed webinar as he breaks down how MES can drive operational excellence and sustainability.

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What’s The Difference Between Iterative And Incremental Development?

The Digital Project Manager

The post What’s The Difference Between Iterative And Incremental Development? appeared first on The Digital Project Manager.

Agile 238
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10 of the Best Meeting Notes Apps to Use In 2021

nTask

Meetings are a common practice in just about every organization and company. You want to not only connect and stay updated with your colleagues and team members but also external stakeholders or clients or vendors your company may be dealing with. However, for many organizations, these meetings are done and then forgotten about. This is why the minutes of the meeting is so important.

2021 200
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Backlog blocked?

Musings on Project Management

Yikes! My backlog is blocked! How can this be? We're agile. or maybe we've become de-agiled. Can that happen? Ah yes, we're agile, but perhaps not everything in the portfolio is agile; indeed, perhaps not everything in the project is agile. In the event, coupling is the culprit. Coupling?

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The Best PMP Exam Simulators for 2021

Rebel’s Guide to PM

Here’s the TL;DR: the best PMP exam simulator is the PM Exam Simulator from the team at the Project Management PrepCast. I have used it and can vouch for it, and that’s what I’d buy if I were you. If you want to know why that’s my top choice, and check out some other options, read on for my independent reviews! It won’t come as a surprise to you that using an exam simulator for your Project Management Professional® exam is a key criteria for successful prep and a massive boost to your chances of

2021 456
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Navigating Chaos in Project Management

This text offers practical guidance for project managers navigating diverse frameworks. It covers topics like centralized reporting, standardized metrics, communication, training, risk management, and alignment reviews. By implementing these strategies, project managers can improve efficiency and achieve their project goals.