There is a saying that “Time and tide wait for no man” or even “An ounce of gold will not buy an inch of time”. This means that an individual should understand the value of time to succeed in all areas of life. Time management is defined as managing the time effectively so that the […]
Tag: Project Management
Project Cost Overruns – Reasons, How to Prevent and Manage
Companies initiate projects for several reasons. In a medium to large size organization, several departments might be working on different projects. The Project Management Office, also known as PMO, manages the initiation, execution, and successful project delivery in an organization. However, regardless of the influence of the PMO, project cost overruns are inevitable events that […]
2 Concepts Of Cost Management: Value Engineering & Life Cycle Costing
As defined in PMI Certification training, Cost Management is all about defining the necessary budget for executing the project. Its objective is to monitor and control the project costs to match the approved budget. So that’s why life cycle costing and value engineering are two important concepts in cost management. Attend our 100% Online & Self-Paced […]
Project Schedule Delays – Causes, How to Prevent and Mitigate
“If you are in the project delivery space, the project schedule delays are inevitable.” Do you agree with this statement? Many project managers think that completing projects on time appears only in books. Well, this is not true. With project management office practices, proper project management skills, proactive risk management, and effective planning, project schedule […]
Integrated Change Control: Key To A Successful Change Management
Perform Integrated Change Control is an important process of project integration management. In a project, there will always be change requests. These changes will be evaluated by the change control board. Afterward, if the change requests are approved, they will be implemented. The changes in a project are accepted, rejected, or handled in Perform Integrated […]