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Project Management Blog
On December 17, 1903, Orville and Wilbur Wright made the first successful powered airplane flight. It was quite an amazing accomplishment, but I don’t believe it would have been possible if they were working in today’s business world. The problem would have been the drive for perfection. It would have started something like this…
Published in Blogs
Monday, 07 May 2007 08:50

Less Obvious ROI

When I was working with a system support group we had to scramble each month to determine the Return on Investment (ROI) for the system enhancements.  Changes ranged from new reports to added functionality with other odd things in between.  Needless to say, determining the ROI for adding a product color field to a report lacks a certain excitement and requires a lot of creativity.  Technically it is the responsibility of the business group to assign ROI, but it generally falls on the technical team to make it happen. 
Published in Blogs
Monday, 02 April 2007 08:43

Avoiding Hindsight Management

Growing up in rural western New York we had cold, long winters.  Natural gas wasn’t cheap even then.  With 4 sons and a chain saw, my dad would cut enough firewood to heat a big, four-bedroom, 2-story home from October to April. 
Published in Blogs
Saturday, 27 January 2007 17:33

Risk Monitor & Control

This is the process of identifying, analyzing, and planning for risks. The PM keeps track of the identified risks, reanalyzing of existing risks, monitoring trigger conditions for contingency plans, monitoring residual risks, and reviewing the execution of risk responses while evaluating their effectiveness. It is done by using techniques, such as variance and trend analysis, which require the use of performance data generated during project execution. Project work should be continuously monitored for new and changing risks. Other purposes of Risk Monitoring and Control are to determine if:
Published in Blogs
Saturday, 27 January 2007 17:32

Risk Response Planning

Risk Response Planning is the process of developing options, and determining actions to enhance opportunities and reduce threats to the project’s objectives. It follows the Qualitative Risk Analysis and Quantitative Risk Analysis processes. It includes the identification and assignment of one or more persons (the “risk response owner”) to take responsibility for each agreed-to and funded risk response. Risk Response Planning addresses the risks by their priority, inserting resources and activities into the budget, schedule, and project management plan, as needed. 
Published in Blogs
Saturday, 27 January 2007 17:15

Risk Identification

PMI defines risk identification as determining which risk events are likely to affect the project and documenting the characteristics of each. This process involves identifying three related factors: (1) potential sources of risk (schedule, cost, technical, legal, and so on), (2) possible risk events, and (3) risk symptoms.

The timing of risk identification is also of vital importance. PMI® advocates that risk identification should first be accomplished at the outset of the project and then be updated regularly throughout the project life cycle. 

Published in Blogs
Saturday, 27 January 2007 17:05

Project Risk Management

Risk Management is the process of measuring, or assessing risk and then developing strategies to manage the risk. In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. The Risk Management Plan (RMP) is the document prepared by a Project manager to foresee risks, to estimate the effectiveness and to mitigate them.

 

Published in Blogs
Thursday, 25 January 2007 21:06

Quality Planning

The PMBOK defines quality planning as “identifying which quality standards are relevant to the project and determining how to satisfy them”. A key output of the planning process should be the quality management plan for the project.

Cost-Benefit Analysis - This is the process of determining the pros and cons of implementing any process, product, or activity. When it comes to project management, cost-benefit is concerned with the benefits of quality management activities versus the costs of the quality management activities. There are two major considerations with the benefit/cost analysis in quality management:

Published in Blogs
Thursday, 25 January 2007 20:39

Project Cost

What is a Project Cost? Each resource in the project must be accounted for and assigned to a cost category. Categories include the following:

  • Labor costs
  • Material costs
  • Travel costs
  • Supplies
  • Hardware costs
  • Software costs
  • Special categories (inflation, cost reserve, and so on)

 

Published in Blogs
Thursday, 25 January 2007 19:26

Schedule Control

From a time management point of view, time control or project control is about the schedule baseline and any changes that might occur. The schedule baseline is the original, approved project schedule and becomes the standard used to measure schedule performance. Schedule control is concerned with:

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