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Understand These Three Estimating Concepts

Posted from method123.com

Estimate in Phases

One of the most difficult aspects of planning projects is the estimating process. It can be hard to know exactly what work will be needed in the distant future. It can be difficult to define and estimate work that will be done three months from now. It’s harder to estimate six months in the future. Nine months is even harder. There is more and more estimating uncertainty associated with work that is farther and farther out in the future.

A good approach for larger projects is to break the work into a series of smaller projects, each of which can be planned, estimated and managed separately with a much higher likelihood of success. From an estimating perspective, the closest project can be estimated more precisely, with the subsequent projects estimated with a higher level of uncertainty. When one project completes, the next project can be estimated with a higher degree of confidence, with estimates refined for the remaining projects. This technique also provides checkpoints at the end of each project so that the entire initiative can be revalidated based on current estimates to ensure that it is still viable and worth continuing.

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How to Manage Your Project Risks

A risk is something that might affect the success of your project. Like, if you’re going out – you’d consider the risk of it raining today. You’d be sure to pack an umbrella if you thought the risk was high!

You’ll find risks on your project too, and the difficult thing is that you never know exactly if and how they will affect you. The best you can do is plan to mitigate the risk (like packing your umbrella) or work out how you can stop it happening in the first place.

Here is a simple 5 step process that you can use to effectively manage risks on your project.

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Be Proactive Managing a Project with Unrealistic Budget

If you are a project manager dealing with what you perceive to be an unrealistic budget, the first thing you will want to do is discuss this with your sponsor to see if there are any factors that are driving the project budget. For instance, there may be budgetary restrictions. If you are a vendor, it is possible your sales people committed to a fixed price for the project. In some cases your manager or sponsor might set an arbitrary budget without much justification. It does not necessarily make your challenge any easier, but you may find that by better understanding the reason for the fixed budget, you may have an easier time getting yourself and your team members motivated to achieve it. When you have a full project management methodology you will have tools and techniques to respond to these concerns.  There are a number of responses to a project with unrealistic budgets.

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Four Benefits of Project Management Training

Thanks to method123 for content

Would you go to a doctor who took their last training course in 1986? Of course not! Training is absolutely essential to stay current with the latest diagnoses, treatments, and technologies that cure sickness and disease. Likewise, it is essential for the project management professional – whether in-person or e-classes. It’s just as important for you to keep up on new methodologies, techniques and technologies that increase your ability to deliver a project on time and on budget.
Four Benefits of Project Management Training

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Four Ways to Judge Project Success

Success

Ah, the ubiquitous triple constraint of project management. Every project must be on time, within budget, in scope – and meet quality standards. Adjust one element of the triple constraint and the other elements must shift accordingly. Unfortunately, meeting the triple constraint is often the only measure of project success, when other factors should be considered. These additional success factors should be listed in the Project Charter or other initiation documents. To verify that your project truly has been successful, here are:

Four Ways to Judge a Project Success

Projects that nail the triple constraint are not necessarily a success. Conversely, projects may be deemed successful without satisfying the triple constraint. Ask yourself the following four questions to determine whether or not your project can rightly be judged a success.

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4 Ways to Power Through Tough Projects

4 Ways to Power Through Tough Projects

February 20, 2013 – published on project manager.com

Sometimes changes on your projects are totally out of your control. For example, a key manager at a client may move on and his replacement is less than pleased with your company. What can you do to keep your nose to the grindstone and power through these tough times? Use the following four insights to help you move through such changes with your head held high.

It was a great project manager job. I spent the early part of the week at the corporate office catching up on what was going on in the company, meeting with developers and managers on my projects, and going out to lunch with friends. The rest of the week it was important for me to be onsite at our largest client’s office, since we were so integrated into what their company was doing.

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Ten Costs of Poor Quality of Projects

Quality

It costs money and time to build a quality solution. You may think that it is cheaper to skip many of the quality management steps, but this is usually not the case. It is important to recognize that there is also a cost to having poor quality. These costs may not be apparent when the project is progressing, but should definitely be taken into account as part of the full life cycle cost of the solution being delivered.

Ten Costs of Poor Quality

Examples of the cost of poor quality include:

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Manage Communication – Eight Steps to Manage Virtual Teams

Most everyone works in a team environment. Generally, the most effective teams are those located together. On the other hand, globalization is driving team staffing in the other direction.  The Internet, faster and more reliable communication, and collaborative tools are allowing people to come together on teams that are no longer co-located. Globalization is pushing work all over the globe, with independent people and teams working anywhere and everywhere. Individual and team training can be done easily through e-classes. These groups are referred to as “virtual” teams. They are real teams but they are referred to as “virtual” because they do not communicate and interact in a traditional face-to-face manner.

Manage Communication
Eight Steps to Manage Virtual Teams

There are some special techniques that can be used to manage these virtual teams.

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6 Steps to Delegate Tasks Effectively

Do you have trouble delegating tasks to people on your team? You shouldn’t. The following is a real-life example of what happens when someone can’t let go of tasks and delegate. I share a few practical reasons why people find it hard, and what you can do to have the confidence you need to delegate. Soon, you will be delegating tasks every chance you get!

“Forget it, I’ll just do it myself…” said Lisa, the technical director of the company where I worked.

Her reaction was always the same. Every time I asked Lisa for clarification about how she wanted something done, she would unpleasantly cut the conversation short and leave me with that response.

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