Resource optimization is key to delivering a successful project. Resources, of course, are anything used to execute the project, including human resources and non-human resources. Resource management techniques keep a project on schedule. To have the right resources at the…
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Whether you’re running a company or a project, you’re going to have to deal with a budget. A budget is the spending plan that you forecast using estimates of income and expenses. To ensure you’re keeping to that ever-important operating…
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Good cost estimation is essential for project management success. Many costs can appear over the project management life cycle, and an accurate project cost estimation method can be the difference between a successful plan and a failed one. Project cost…
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The best things in life are free, but manufacturing goods cost money. The cost of production of those products isn’t as straightforward as it might seem. The sum total investment that it takes for a business to create a good…
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If you’re working on a design project, wait. Before you start you need to have a design brief. It’s similar to a project brief, only focused on design. After all, you wouldn’t start driving if you didn’t first know your…
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You’ve heard it countless times; teams are projects’ most valuable resource. They do the work. But a project manager has to connect each team member to that work. Resource loading is a process to keep team members fully engaged throughout…
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All businesses have assets, and if you want to stay in business, you need to know what those assets are. To start, you have to do an equipment inventory and make an equipment inventory list. That’s not as easy as…
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Before you engage with a new project, there are certain things you have to know. Is the cost worth the return? Can you get it done properly by the deadline? Do you have the resources? Resource forecasting is how you…
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There’s a lot riding on what project your organization moves forward with, especially if you’re managing a program or portfolio. The investment of money, time and effort can be huge, not to mention determining where to allocate your resources. The…
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Every project, regardless of the industry, uses a methodology to estimate time and cost to better plan projects. In the life sciences, engineering and construction industries, the method often used is called parametric estimating. When dealing with a project that…
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Resource management tools are an essential part of any project management software. Every project has materials, tools, equipment, people or resources to manage. No matter how good your project plan is, if you can’t manage your resources, your project will…
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A successful project starts with a successful estimate. To properly schedule the work to execute your project, you need to know the timeline, costs, scope, risk and more. All of these considerations are part of project estimation techniques. Estimation techniques…
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Managing a project requires more than planning and budgeting, it also requires scheduling. While deliverables are due at specific points on your project timeline, getting those deliverables completed on time requires scheduling your human resources with a resource calendar. In…
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