Tag Archives: cost
Forecasting Projects: Time, Workload and Cost
Download the files from Eric Project Management Institute (PMI)® Professional Development Units (PDUs): This Webinar is eligible for 1 PMI® PDUs in the Technical category of the Talent Triangle. Event Description: There are three forecasts you can make with Microsoft Project: Time, Workload or Cost forecasts: The time forecast will tell you…
The Unified Theory of Everything (or at least Schedule, Cost, Risk, and Earned Value)
Project Management Institute (PMI)® Professional Development Units (PDUs): This Webinar is eligible for 1 PMI® PDU in the Strategic category of the Talent Triangle. Event Description: All organizations that run large Programs for a living must assemble deep expertise in disciplines including scheduling, cost analysis, risk analysis, and earned value management. Each requires…
Integrating Top Down Budgeting and Cost Management with Microsoft Project
If you are an IT Project Manager, you’ve probably faced a moment where you’ve said something like this to yourself, “I’ve been appointed as the PM for this major project. It’s starting soon, but the preliminary budget was created many months ago. I have to do a more detailed budget now, and start the task…
Manually Entering Task Costs — How Is This Even Possible?
I recently learned something new about Microsoft Project. This new knowledge is an extension of how Project calculates the Cost value for each task. As most of us already know, the software calculates the Cost value for each task as the sum of the Cost values for each resource assigned to the task. For example,…
Deep Dive into Microsoft Project Resource Pools: 5 Gotchas
In this article about resource pools, you’ll learn about a potential danger while swimming around in resource pools and hear about all the known gotchas I have run across in my dealings with resource pools. An Important Note on Pool Safety and Security Pool safety and security is important. After all, you’re sharing data with…
Project Management Battlefield
Introduction Over the years, knowing PMBOK® has become imperative in becoming a certified project manager in the technology industry. The processes, procedure, tools and techniques discussed in PMBOK® assists a project manager to deliver positive outcomes. Sun Tzu’s The Art of War, also focuses on guiding the project manager (“the general”) toward a positive outcome…
Earned Value Demystified
What is Earned Value Analysis? EV is KPIs that measure the Cost and Schedule performance of a project. It’s like a traffic light (green, orange and red), but better. Here are the main blocks of the EV calculations: So What? Earned value indicators that are variances or ratios can help you determine if there is enough money left in…
Microsoft Project 2013: The Missing Manual
Earned Value Analysis Earned value analysis is like the idea behind that old Smith Barney slogan, “We make money the old fashioned way—we earn it.” Earned value analysis measures progress according to how much of your project’s value (its cost) you’ve earned so far by completing work. Project customers, sponsors, and stakeholders want to know…
Do’s and Don’ts: Use a Simple Program Simulation for Initial Assessment
A “Master” project is great for modeling a program but takes time to create and refine. (If you do not know about this capability see my other article, “Do’s and Don’ts: Creating Subprojects”) If you are pressed for time and just want a high level initial assessment of resources, work and cost across all the projects, consider a…
Compatibility
Collin Quiring of PMP Specialists presented the topic of compatibility between the 2003, 2007, 2010 versions of Microsoft Project and Project Server. He really nailed down features of the 2010 versions that are not used if the file is opened in either 2007 or the 2003 version. Compatibility is a very important feature to consider,…
