Project Smart ~ Exploring trends and developments in project management today

Cost Management

Project Cost Control

Cost management is one of the fundamental and yet most challenging tasks for a project manager.

Cost management icon
Calendar icon

Estimating Project Work Gone Wrong

Estimating project work is fraught with opportunities for things to go badly. Read Brad Egeland's five common issues and solutions for better estimates.

Calendar icon

6 Steps to Turning Around a Financially Failing Project – Part 2

Projects fail for many reasons, but I believe that the hardest one to handle and to dig out from is the one that is heading for financial ruin.

Calendar icon

6 Steps to Turning Around a Financially Failing Project – Part 1

Six actions you can take to gain control over a project budget that isn't too far gone or to make strides on gaining some degree of control.

Calendar icon

Creating a Project Budget: What You Need to Know

The ability to create an accurate budget is an essential skill for a project manager. Here's what you need to create an accurate budget for your next project.

Calendar icon

My Budget is 10% Over, Now What?

Are you suffering a budget overrun? Here's three key things you can do mid-stream on a project to help get the budget back in line with the original plan.

Calendar icon

The 4 Pillars of CAPEX Accurate Estimates

Project CAPEX estimating is a difficult exercise for non-standard projects, because of the variety of situations that can influence project success.

Calendar icon

Calculating Total Cost of Ownership when Choosing a Solution

Total cost of ownership (TCO) is a financial estimate that helps enterprise managers determine direct and indirect costs of a product or system.

Calendar icon

7 Things You Need to Know About Development Project Estimations

Project estimations do not need to be too complicated. There are tools, methodologies and best practices that can help project management teams.

Calendar icon

Estimating: Part 3

In this last article of the series, I'll cover a potpourri of other estimating topics including the key outcome of estimating, converting effort estimates into budgets, dealing with poorly defined work and more.

Calendar icon

Estimating: Part 2

This is the second of three articles on estimating. It may seem obvious, but the first requirement for developing an estimate is to know what you are estimating.

Calendar icon

Effort Estimating: A Primer

Good estimating is a skill like any other, it can be developed with practice to the point where it may seem like magic to the uninformed.

Calendar icon

5 Ways to Finesse Budget Discussions for New Client Projects

Do you have difficulty engaging in budget discussions for new projects? This article explores five ways to help you gracefully avoid backing yourself into a corner.

Calendar icon

Make or Break: Why Accurate Cost Estimation Is Key

The accuracy of your cost estimation process can make or break project success. Learn the strategies that will help you gain control of this key area.

Calendar iconNot recorded

3 Main Benefits of Project Baselining

When you have finished planning your project, and you have all the scheduled dates, hours and costs agreed, why is it a good idea to store these values?

Calendar iconNot recorded

Project Cost Management

How do we know what a project will cost? We really don't until the project is complete because we can't accurately predict the future. What we can do is create an estimate.

Calendar iconNot recorded

12 Tips for Accurate Project Estimating

Using a set of proactive estimating techniques to scope, plan and constrain your project conditions can dramatically improve your estimating practices.

Calendar iconNot recorded

Estimating Project Costs

Estimating is the process of forecasting a future result in terms of cost, based upon information available at the time. A few simple rules will also help ensure you create an accurate and realistic estimate.

Calendar iconNot recorded

Forecasting Support Costs

When forecasting the cost of maintaining a product use Boehm's Model, widely accepted as a valid model for predicting maintenance costs.

Calendar iconNot recorded

Monte Carlo Simulation in MS Excel (PDF)

The Monte Carlo method is based on the generation of multiple trials to determine the expected value of a random variable.

Calendar iconNot recorded

Cost Benefit Analysis (PDF)

The cost benefit analysis is based on the comparison of a base case and one or more alternatives.

Project Health Check

Will your project be a success? Find out in five minutes.

Start nowStart arrow

PROJECT SMART is the project management resource that helps managers at all levels improve their performance. We provide an important knowledge base for those involved in managing projects of all kinds. With weekly exclusive updates, we keep you in touch with the latest project management thinking.

WE ARE CONNECTED ~ Follow us on social media to get regular updates and opinion on what's happening in the world of project management.

Latest Comments

Duncan Haughey commented on…
Psychology for Project Managers
- Thu 22 October 5:10pm

Michael Fayamba commented on…
RACI Matrix
- Sun 18 October 6:34pm

Muhammed Ayub commented on…
Understanding the Project Management Triple Constraint
- Fri 9 October 8:54am

Latest tweets

General Project Management • Re: Recently passed the PMP exam. Read my story about 4 hours ago

General Project Management • Re: MEET – Model for Employee Engagement with connecTs about 1 day ago

General Project Management • Re: Why is it important to develop a product-thinking mindset? about 1 day ago