Selecting the right project is an important step for any organization. Project selection methodologies provide a systematic approach for selecting the project with maximum value to the organization. This is an important concept for project management professionals.
Present Value(PV) – PV indicates the present value of future cash flow. Projects [...] Continue Reading…

It is not an easy task to estimate the project duration – it needs a Project Manager’s knowledge of some theory, application of some best practices and methodologies.
Estimating duration is a lengthy process and it takes time for a long term project. Ideally, you should involve your core project [...] Continue Reading…

Winning a project from the customer is not so important as to execute the project work after this. Here come project manager inherent qualities in executing the work with the project team – developing the team to achieve the project objectives. Mind you, it’s not an easy task at [...] Continue Reading…

In every work there is a risk. Risk does not mean that it is negative or it is a threat. It has also a positive impact on your work, known as opportunities. So, a project manager should identify all the risk in his or her project and there must [...] Continue Reading…

Introduction:
As a project manager you are the boss of your project. You are the person responsible from the initiation of the project till closing of the project. You have to plan your project perfectly aligning the project requirements or project objectives. So many project managers can create work breakdown [...] Continue Reading…

Control Account vs Work Package

Once the scope is divided in the form of WBS, work packages   and activity level,  when it comes to tracking or monitoring and controlling, it is very difficult to track the project at very high level or at the lowest leve which is activity level. [...] Continue Reading…

Frankly speaking – 7 out of 10 projects are either behind the schedule or running over budget. I, personally, discussed with so many project managers and unanimously they told me that sometimes it is almost impossible to maintain the baselines with the increasing demand of scope change from the [...] Continue Reading…

Costs are planned and managed in oracle primavera at the activity level. Primavera supports two types of costs:

Unit Price – calculated based on resource assignments
Expenses – lump sum costs (entered manually)

Unit Price: This cost is calculated based on the price/unit defined [...] Continue Reading…

We manage project with our good endeavor and skill set but sometimes we lack in the motivation. You should apply the motivation theories in your project to get the maximum from your project team. Your project team should work in a good environment to meet the project objectives. They [...] Continue Reading…

Project planning is an essential part of project management. Successful completion of a project is heavily dependent on effective planning. A project plan allows you to complete a project within a specified timeline and budget.
Basic components of a project plan are:
Baselines also called performance measures
They act as a benchmark [...] Continue Reading…