Projects always need resources such as materials, labor and equipment, which generate costs. Those costs must be estimated and controlled throughout the project life cycle to complete the project. What Is Project Cost Management? Cost management is the process of…
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General contractors strive to maintain each job’s profit margin, so it makes sense that the construction project will be monitored closely to ensure it’s progressing as planned. A work-in-progress (WIP) report is one of the tools used to track the…
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Projects are made or broken by how time is managed. Planning, scheduling, monitoring and controlling are all key elements of project management that work to ensure the time spent and progress made over the life cycle of the project is…
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There’s a limited amount of time and resources for every project. As projects unfold, you may encounter challenges and unexpected events that force you to rethink your resource allocation and make changes to your project schedule. Resource leveling can help…
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Workload management is a critical part of executing any project; projects are executed by people and as a project manager, you must ensure that your team’s workload is balanced. Project teams look to project managers to clarify what they should…
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One of the main responsibilities of any project manager is to track project resources so they’re available whenever they’re needed. To do so, they must measure resource utilization. By calculating resource utilization, project managers and employers have a better idea…
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Resources such as raw materials, human resources and machinery are needed to execute any project. This means resource management is one of the main hurdles project managers must clear for successful project delivery. Because resources are tied to project activities,…
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It’s a cliche to say nothing is constant but change, but cliches grow from truths. Project managers understand this and work hard to create change management plans that ensure their projects run smoothly. Project management software helps, too, but if…
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Businesses, nonprofits and even government agencies execute projects to improve the efficiency of their operations and achieve strategic goals. These projects require a variety of human and non-human resources such as raw materials, equipment and machinery, which need to be…
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A project management office (PMO) as a service (PMOaaS) is a way for companies to execute their enterprise strategy. PMO as a service or project management as a service seeks to do many things from increasing project managers’ capacity to…
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An ongoing goal in business is consistency in terms of labor assignments. The ability to spread the workload even across labor leads to greater productivity but also boosts morale, which in turn increases productivity. In manufacturing operations management, this is…
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Everything you need for your manufacturing process is a resource—people, materials, equipment, software, facilities, etc. Whatever you’re making, you need to manage those resources to do it. That process is called manufacturing resource planning (MRP II), and it’s a method…
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Projects are planned, but those plans are rarely executed with changes. Those disruptions can play havoc on a project’s budget. Therefore, project managers are always tracking budget variance to deliver projects without breaking the bank. We’ll define project variance below…
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