Project cost management (PCM) is the discipline of planning how costs are governed, estimating required resources and money, approving and time-phasing a budget, measuring actual cost and progress, fo...

Estimation of project costs is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. However, the main challenge of this process is that i...

Reduction of project costs and at least avoiding significant cost overruns is one of the high-priority tasks for a project manager, as it helps to avoid unnecessary expenses and significantly impacts ...

Every week a project waits for the same specialist team has a price. Cost of delay is how you put a number on it. Short answer: Cost of delay (CoD) is the expected economic value lost by delivering an...

A project can sit comfortably under budget while its delivery forecast quietly erodes its commercial value. When a shared specialist becomes the queue every project waits on, completion dates slip. If...

Managing a large portfolio of projects without the right structures and methodologies in your arsenal can be a big challenge. It’s not uncommon to see company resources overloaded, lead times increasi...

Aerospace project management tools fall into three camps. EVM and master scheduling systems answer whether a program is on its baseline. Portfolio capacity tools answer which program waits when the sa...

A nuclear portfolio can have enough engineers on the payroll and still miss a commissioning milestone, because the two people authorized for the work are booked on three projects in the same month. Nu...

The project financial management process is the governed cycle in which the PMO and Finance plan, approve, record, reconcile, forecast and act on the financial position of projects. It connects delive...

Business value in project management is the expected contribution a project, or one phase of it, makes to the organization's financial, customer, operational, strategic, risk or compliance outcomes. T...

Project portfolio management metrics are the measures a PMO uses to check whether the portfolio is selecting valuable work, matching demand to the capacity it actually has, delivering predictably, con...

Imagine the situation: you have three projects that are looking suspiciously perfectly green on paper, but still, somehow, form an impossible portfolio. All three projects are on schedule. Still, all ...