Construction procurement can maximize a construction project’s efficiency. While construction project management includes all project plans and schedules, without the goods and services provided by procurement in construction, it’s an idea, not a structure. The importance of proper construction procurement…
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A budget is a document that’s mainly used to break down the costs of executing a project or running the operations of a business for some time and define a maximum spending limit for the procurement of resources. This free…
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Projects cost money. Those funds have a life cycle of their own and project managers must understand how those costs come in and out of the project and organization. That process is called project cash flow. We’ll look at project…
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You’ll need to create a work schedule if you’re managing a project or business. In its most basic sense, a schedule allows you to allocate work to your employees and let them know when they’re needed. But schedules can be…
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If human resources are your most valuable resource, you better give them the attention they need to get their work done. One way to make sure you’re supporting your team and project alike is with workforce planning. Workforce planning is…
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Managing resources effectively is one way to deliver your projects on time and within budget. But what do you do when you don’t have enough resources and the deadline is quickly beating down on you? Project managers use a technique…
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Managing the workforce in a construction project is a complicated endeavor. There are so many different subcontractors and all have to work together to deliver the project on time and within budget. Resources in construction are managed by construction resource…
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There are many ways to approach budgeting. Two of the more common approaches are bottom-up budgeting and top-down budgeting. Knowing which is right for you starts with understanding both of these budgeting approaches. Let’s start with defining both bottom-up budgeting…
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Managing a program or portfolio of projects involves many things, but utmost importance should be given to resource management, especially organizational resources. Resource planning, resource allocation and resource utilization are all under the umbrella term of organizational resources. What Are…
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Your team is your most valuable resource when executing a project. The ability to know who you need and when you need them for the project is what workload analysis is all about. As you can imagine, workload planning is…
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Construction sites are busy with subcontractors and other crews working on various smaller projects that will lead to the final build. One of the tasks of the general contractor is to track those work hours to manage labor costs and…
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Information technology (IT) runs most businesses. It’s hard to imagine a company without an IT department. But those devices don’t run for free. Managing information costs and managing information security for those costs are part of making an IT budget….
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Information technology (IT) has found its way into almost every aspect of our lives, both professionally and personally. What we might take for granted actually involves a great deal of work and investment. IT financial management (ITFM) covers the costs…
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