Completing the projects within budget is a subject of very high interest for project managers. Unfortunately. cost over runs continue to be very common. As per recent Economic times report; 360 infra projects show cost overruns of Rs 3.88 lakh crores The average time overrun in 550 delayed projects is 39.24 months. “Total original cost…
One of the biggest problems facing project managers is the lack of on-time project progress data. By the time progress information reaches them on a weekly or monthly basis, a lot of precious time has already been wasted, and project management decisions were not made optimally. This post explores a solution to the problem, using…
The planning, organizing and delivery of large projects are extremely complex. The success or failure of such projects are determined by the project strategy. Large projects also involve many different stakeholders entering and exiting the project life cycle at different stages with different roles and responsibilities. Some of them can have conflicting interests. The complexity…
By harnessing the power of electronic data management and earned value management systems, engineering progress monitoring and control can be improved considerably resulting in improved project velocity.
Divide and rule is the philosophy behind developing the Work Breakdown Structure (WBS). Creation of WBS happens after scope definition and before the development of the project schedule. Once the requirements are collected, and the scope is defined, then it is time to decompose the scope into a Work Breakdown Structure (WBS). The WBS is a deliverable oriented grouping of work. It decomposes the complete scope of the project into smaller manageable components known as Work Packages. WBS provide the break up of work that needs to be performed to construct and deliver the deliverables of the project. Read more