Understanding Project Cost Management


The PMBOK describes three areas or processes for effective cost management:

Estimating the Costs

The first step in cost management is to estimate the costs of each activity in the project. Costs include both human resource and physical resource costs. Because this step often occurs in the

Effective Stakeholder Management: 10 Tips for Better Communication

Here are ten tips for creating presentations that supercharge your stakeholder management:

  1. Pique their interest: An agenda is always a good idea, but a brief summary of what will be discussed is even better. Plus, it gives stakeholders a take-away and allows them to come prepared with questions.

Project Management Knowledge Areas

The project manager's bible, i.e., the PMBOK, describes nine knowledge areas or categories of the project management discipline. Gaining expertise in any one of these knowledge areas can help you become a rock star in your organization. Understanding and applying all nine will make you irreplaceable

Best Practices for Scope Management

1. Collect Project Requirements
2. Define the Scope
3. Create a Work Breakdown Structure
4. Verify the Scope and Get Feedback
5. Monitor and Control the Scope

Collect Project Requirements

Best Practices for Scope Management stakeholders and the capabilities and constraints of your resources, you

Risky Business: Five Steps to Project Risk Management

Risk is to projects what gravity is to the world around us. Risk is inherent in the process of project management, whether we choose to recognize it or not. And like gravity, risk can be both beneficial and detrimental to our projects. A skier uses gravity to propel himself down the slope, while

4 Things Executive Information Systems Must Have

Executive information systems need to empower executives and senior managers to make better, more informed decisions. Inaccurate or outdated data in executives' hands can have dire consequences for companies trying to shift their resources to their most strategically valuable projects. This fact

A Beginner’s Guide to Agile for Marketing Creative Teams

If you’ve been halfway tapped into the marketing zeitgeist lately, you’ve seen this phrase: Agile marketing.

Everybody’s talking about it as the “next thing in marketing.” It even has its own manifesto. Despite all this hooplah, however, you shouldn’t feel too bad if you can’t quite put your finger