The IIL Blog

SEPTEMBER 13, 2023

By Alan Zucker We make hundreds of assumptions and take small risks daily. Recovering from these risks may be inconvenient but not horribly impactful. Project assumptions and risks are not as casual. Project assumptions and risks are not as casual. Until we validate them, they are risks.

Risk Management 88

Risk Management Risk Cadence 2016 88

Velociteach

SEPTEMBER 11, 2023

We make hundreds of assumptions and take small risks daily. Recovering from these risks may be inconvenient but not horribly impactful. Project assumptions and risks are not as casual. Project assumptions and risks are not as casual. Or risks were identified, but a response strategy was never created.

Risk Management 77

Risk Management Risk Cadence 2023 77

Teamweek

JUNE 3, 2024

Keeping projects within budget is one common challenge that most project managers face at least once in their careers. Scope creep is one of the main reasons why projects exceed their budgets. It happens when a project’s scope keeps expanding without proper control, resulting in higher project costs.

Project Cost 59

Project Cost Technical Review Estimate Budget 59

nTask

MARCH 2, 2022

Unexpected costs, events, and miscalculations can take your project down the hill in no time. This is where project cost management jumps in. Cost management helps you to mitigate the risk of any surprise costs and budget constraints. What is Project Cost Management?

Project Cost 88

Project Cost Underperforming Technical Team Estimate Budget 88

Epicflow Blog

AUGUST 31, 2021

Reduction of project costs and at least avoiding significant cost overrun is one of the high priority tasks for a project manager. However, it usually becomes challenging due to a great number of factors: underestimation of project costs, uncontrolled changes, poor resource allocation, etc.

Project Cost 89

Project Cost Underperforming Technical Team Software Review Budget 89

Epicflow Blog

AUGUST 31, 2021

Reduction of project costs and at least avoiding significant cost overrun is one of the high priority tasks for a project manager. However, it usually becomes challenging due to a great number of factors: underestimation of project costs, uncontrolled changes, poor resource allocation, etc.

Project Cost 83

Project Cost Underperforming Technical Team Software Review Budget 83

ProjectManager.com

SEPTEMBER 10, 2024

Consider that resources are people, equipment, materials and anything else needed to execute the project tasks. This means that resource analysis in project management is the process that project managers use to help them determine the availability of resources, allocate those resources effectively and identify potential constraints.

Software Review 404

Software Review Monitoring Project Life Cycle Budget 404

Scoro

JULY 2, 2024

It’s easy to get behind on managing project costs amid all your other day-to-day responsibilities, especially if you have a lot of projects going at the same time. But if you don’t have a handle on cost management, you’ll likely experience overservicing, delivery delays, and less profitable projects.

Project Cost 52

Project Cost Estimate Finance Budget 52

Epicflow Blog

JULY 5, 2022

Estimation of project cost is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. At the same time, the forecasted cost should not be too overestimated or underestimated. What helps make cost estimation simple and efficient?

Project Cost 52

Project Cost Estimate Process Budget 52

Wrike

OCTOBER 16, 2024

So, while many guides out there leave you to navigate these problems yourself, this guide talks you through how to forecast your project costs , too. We’ll also suggest a more intelligent solution than doing it yourself: using project cost management software , like what you get with Wrike.

Project Cost 36

Project Cost Estimate Construction Risk Management 36

ProjectManager.com

SEPTEMBER 11, 2024

When you initially learn about resource tracking, you might wonder how it differs from project management. While there are similarities between the two, resource tracking helps support the project management process. That’s why having resource-tracking software is key to managing a successful project.

Software 363

Software Monitoring Budget Risk Management 363

ProjectManager.com

JUNE 28, 2023

Projects are divided into phases to make them more manageable. All are important, especially project monitoring. Project monitoring and control is how a project manager ensures the plan they’re implementing with the project team goes off without a hitch. What Is Project Monitoring and Control?

Monitoring 306

Monitoring Controlling Software Review Risk Management 306

ProjectManager.com

FEBRUARY 27, 2024

Without a plan, projects are in trouble. Project planning is one of the first and most important aspects of project management. Using project planning templates can help you schedule tasks, estimate budgets and allocate resources. Download one or all and get your next project started right.

Planning 395

Planning Software Review Risk Management Estimate 395

ProjectManager.com

NOVEMBER 5, 2024

Looking for a specialized tool designed to integrate project management functionalities with financial and accounting capabilities? There are many project management accounting software on the market, but it can be difficult to decide which is best for one’s projects and organization.

Software Review 329

Software Review Software Technical Review Budget 329

ProjectManager.com

AUGUST 23, 2023

Project risk. Just the word risk can evoke the same kind of primal, fight-or-flight fear in project managers. But risk shouldn’t be feared, it’s just another part of the project to manage. All projects have some element of risk while other projects are inherently high-risk. (We’re

Risk 341

Risk Risk Management Monitoring Project Cost 341

Wrike

JULY 16, 2024

That’s on top of all the other tools being used for project management, collaboration, file storage, and more. Try Wrike for free Book a demo Why it pays to manage all your project costs in a single tool When you look for project cost management software, you’ll notice there are lots of different kinds of tools out there.

Project Cost 36

Project Cost Software Review Software Finance 36

Project Pulse Journal

NOVEMBER 24, 2023

By: Dr. Michael Shick, MSPM, PMP, CSM Are you a project manager struggling to predict the risks in your projects accurately during planning? Do you find yourself overcome by the inherent uncertainty of project variables like cost or schedule and worried about how they might impact your project's success?

Risk Management 52

Risk Management Risk Engineering Estimate 52

nTask

MARCH 30, 2022

According to a report generated by PMI , 14% of the IT projects surveyed and started by companies in the organizational paradigm are deemed failures. Today, we will discuss project cost management, the benefits associated with it, and the steps involved in the overall cost management process.

2022 88

2022 Project Cost Construction Budget 88

EasyProjects

OCTOBER 19, 2020

Whether it’s designing a new product or improving upon an existing work process, nothing matters more than how much it will cost the company in the end. This is where project cost management comes into play. For this reason, a budget must be determined to ensure that the allocated project costs stay in line.

Project Cost 98

Project Cost Estimate Budget Consulting 98

ProjectManager.com

NOVEMBER 7, 2024

ProjectManager has over 100 free project management templates for Excel and Word that can be downloaded now. There are over a dozen templates that can help during the construction bidding process. ProjectManager’s Gantt charts plan, manage and track work in real time. However, templates are static documents.

Construction 283

Construction Software Review Estimate Budget 283

ProjectManager.com

JANUARY 23, 2024

When you’re a PMP, program manager or portfolio manager, you need to deliver all those multiple projects on time and within budget. This requires an organization with a well-developed project management process. It’s essential to keep projects successful for any organization to thrive.

Underperforming Technical Team 368

Underperforming Technical Team Risk Management Software Review Budget 368

ProjectManager.com

NOVEMBER 21, 2023

Whether you call it project financial management or project accounting, managing a project’s finances is essential to delivering a successful project. It’s more than just keeping up with costs. There’s a lot of planning, managing and tracking involved. What Is Project Financial Management?

Finance 367

Finance Estimate Budget Risk Management 367

ProjectManager.com

AUGUST 7, 2024

This is especially true for projects that are behind or even ahead of schedule or labor costs. This is an essential part of managing a construction project as it helps the general contractor calculate the progress of all ongoing work, allowing them to see what’s done and what’s outstanding.

Construction 381

Construction Software Review Estimate Monitoring 381

ProjectManager.com

OCTOBER 5, 2023

Whether you’re managing a project in construction or manufacturing, keeping costs down is paramount. The lower your costs, the higher your profits. This is why in project management and business in general cost control is so important. What Is Cost Control? It’s as simple as that.

Controlling 366

Controlling Manufacturing Construction Underperforming Technical Team 366

Teamweek

DECEMBER 1, 2022

Even when you tell yourself that “this time is going to be different,” — but project costs somehow still manage to get out of control? Only 43% of projects are “mostly or always” completed on budget. Let’s talk about project cost management. ??. Cost estimating.

Project Cost 52

Project Cost Estimate Technical Review Budget 52

PM Basics

NOVEMBER 2, 2020

In this article, you’ll find the real-life project risk management plan example. It comes from my practical experience working on software development projects. Below the example, you’ll find all the required information and resources to create your Risk Management Plan quickly and for free.

Risk Management 105

Risk Management Risk Planning Technical Review 105

ProjectManager.com

AUGUST 23, 2024

In short, a post-implementation review is a process to evaluate whether the objectives of the project were met. You can also use it to see how effectively the project was managed. This helps to avoid making similar mistakes with future projects and learn how to run the project better.

Software Review 389

Software Review Underperforming Technical Team Closing Project Life Cycle 389

ProjectManager.com

AUGUST 14, 2024

Executing a plan, whether a project or a larger organizational strategy, is pointless without monitoring its progress and performance. Expecting everything to fall into place ignores inevitable risks and changes when abstract plans live in the real world. This is why managers use a KPI dashboard to stay on track.

Software Review 377

Software Review Manufacturing Monitoring Risk Management 377

ProjectManager.com

AUGUST 15, 2023

Job costing is a type of accounting method that helps identify project costs and track them to keep to your budget. It tracks all costs and revenue associated with a particular project and is commonly used in construction projects, but it can also be found in manufacturing, engineering, retail, logistics, healthcare and more.

Manufacturing 286

Manufacturing Construction Estimate Project Cost 286

Online PM Courses

SEPTEMBER 3, 2018

Project Cost Management often puts people off. But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. Project cost over-runs are common. The governance considerations for project cost management.

Project Cost 95

Project Cost Prince2 Budget Governance 95

ProjectManager.com

OCTOBER 19, 2022

No one needs to tell you that projects cost money. But how much they’ll cost is an open question. The closer you can come to an accurate forecast of project costs, the more likely you’ll deliver a successful project. Rough order of magnitude (ROM) can help you better estimate project costs.

Estimate 379

Estimate Software Review Budget Project Cost 379

ProjectManager.com

AUGUST 22, 2023

What qualifications do you need to land a project management job? What Are Project Management Qualifications? Being qualified for a position as a project manager means you have the skills, experience and temperament for the job. Qualified project managers need the right tools for the job.

Certification 357

Certification Leadership Risk Management Budget 357

ProjectManager.com

MAY 16, 2024

Then we’ll explore scenario planning in business and project management before explaining the steps that must be taken to use this process. By using regular and consistent scenario planning, organizations can better allocate resources successfully, mitigate risk and decrease production costs.

Planning 375

Planning Software Review Underperforming Technical Team Risk Management 375

ProjectManager.com

JUNE 22, 2022

Project accounting, as with general accounting, is a method by which project managers can manage project finances. Project accounting is not the same as balancing your checkbook or even seeking the service of a certified public accountant as it’s unique to project management. Learn more.

Finance 375

Finance Software Review Monitoring Project Cost 375

ProjectManager.com

JULY 30, 2024

A program is a group of related projects that are managed together to reap the maximum amount of benefits. These are long-term projects and represent a major strategic investment for an organization. A program roadmap is a tool that allows program managers to get a high-level overview of all those projects under their purvey.

Software Review 367

Software Review Monitoring Budget Risk Management 367

Rebel’s Guide to PM

APRIL 5, 2024

This article reviews and explains the 10 project management Knowledge Areas from the PMBOK® Guide -- Sixth Edition. Basically, each Knowledge Area (which you might see abbreviated to KA) is a category of concepts and processes with a common goal. How many knowledge areas are there in project management?

PMI 211

PMI Risk Management Risk Technical Review 211

ProjectManager.com

APRIL 28, 2021

In order to understand cost control, you must first understand why it is used: monitoring expenses and identifying risks in order to increase profits. Not to be confused with cost management, cost control has its own set of objectives that can save businesses money. What Is Cost Control? Indirect Expenses.

Controlling 320

Controlling Risk Management Estimate Budget 320