Feasibility studies help to show the potential viability of a proposed project. A feasibility study should recommend initiating a project if business conditions are right. If conditions aren’t right, the study should help management understand the risk they’re taking if they approve the project anyway. Here are do’s and don’ts when you run a project […]
Risk management can be difficult when risks are hard to address. Some difficult risks are abandoned too quickly as unmanageable when they could be addressed. Be persistent! Here are four approaches to consider when you are struggling to derive a response to a risk. Try to reduce the probability or impact if the risk occurs. […]
Estimating projects is never easy. There are too many variables. Team performance can be inconsistent. And even with sound risk management, issues arise. These variables can require adjustments to estimates for part of a project. Sometimes, re-estimating the entire project might be in order. Here are circumstances when a complete project re-estimation is in order. […]
Sometimes, the time and extent of authority needed to sponsor a project is beyond what one person can handle. In that case, a sponsorship committee is the answer. Here are tips for working with a sponsorship committee. Request an individual to represent the committee when you need quick responses. At times, you will need a […]
Critical projects sometimes die prematurely when blockers prevent projects from getting management approval. Here are some tips for addressing these common approval blockers. Your organization hasn’t established project success metrics. A lack of success criteria can raise obstacles to project approval. Is the payback period 1 year or less than that? Do you need a […]
Many project managers work hard to build an accurate schedule and then, omit the final step of saving a baseline! A baselined schedule provides so many benefits you don’t want to miss. Here are some key benefits of schedule baselines: Track your project against the original plan. Experienced project managers know that no plan survives […]
Spreadsheets have so many uses, but project scheduling tool is not one of them. You can use one to create something that looks like a Gantt chart schedule. But you can’t manage that schedule without a ton of menial work. Here’s why you should use a scheduling tool rather than a spreadsheet: You can manage […]
Sharing issues with your sponsor is like walking a tight rope. You don’t want to bother them with trivial matters. But you want them to feel informed. And you never want them to be blindsided. Here are situations when you need to share issues with your sponsor. The sponsor’s confidence is low. Sponsors are afraid […]
You probably use a Work Breakdown Structure (WBS) in your projects, but sometimes, it isn’t enough. A product breakdown structure is helpful when you need to deliver a complex solution. A Product Breakdown Structure (PBS) is like a WBS, except it shows product details and how its components fit together. Here are the benefits of […]
Effective risk management is crucial to project success. Unfortunately, many project managers fall into traps when developing risk responses. Bob McGannon and Bonnie Biafore share some tips for avoiding common mistakes in risk response planning: *Do not* base your risk response on using standard project management tools. Saying that you will address a potential stakeholder […]
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