Category
Cost Management
Cost management is one of the fundamental and yet most challenging tasks for a project manager.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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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?
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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.
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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.
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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.
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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.
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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.
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Cost Benefit Analysis (PDF)
The cost benefit analysis is based on the comparison of a base case and one or more alternatives.