What is involved in Project Cost Management
Find out what the related areas are that Project Cost Management connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Project Cost Management thinking-frame.
How far is your company on its Project Cost Management journey?
Take this short survey to gauge your organization’s progress toward Project Cost Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Project Cost Management related domains to cover and 96 essential critical questions to check off in that domain.
The following domains are covered:
Project Cost Management, A Guide to the Project Management Body of Knowledge, Earned Value Management, Estimation, Project management, Project manager, Project sponsor, Project stakeholders, Protologism, Schedule:
Project Cost Management Critical Criteria:
Review Project Cost Management quality and look at the big picture.
– Are there any drawbacks to using a responsibility assignment matrix?
– Are assumptions made in Project Cost Management stated explicitly?
– When are the various organizations brought into the project?
– What is the difference between product and project scope?
– Who will be responsible for carrying out each activity?
– What steps are required so as to launch a new Product?
– What are the Commercial aspects of Project Management?
– What are the Perceptions of Owners and Contractors?
– What type(s) of PMO does your organization have?
– What s the state of the quality of the data?
– What are the components of team building?
– What information should be collected?
– What is Post Implementation Review?
– Who will be collecting information?
– Where Do Changes Come From?
– What should the results be?
– Has the project been sold?
– Is detail data needed?
– Is it feasible?
– What is SOW?
A Guide to the Project Management Body of Knowledge Critical Criteria:
Participate in A Guide to the Project Management Body of Knowledge governance and plan concise A Guide to the Project Management Body of Knowledge education.
– What tools do you use once you have decided on a Project Cost Management strategy and more importantly how do you choose?
– Among the Project Cost Management product and service cost to be estimated, which is considered hardest to estimate?
– What is our Project Cost Management Strategy?
Earned Value Management Critical Criteria:
Grasp Earned Value Management risks and visualize why should people listen to you regarding Earned Value Management.
– Do we aggressively reward and promote the people who have the biggest impact on creating excellent Project Cost Management services/products?
– Does Project Cost Management create potential expectations in other areas that need to be recognized and considered?
– Can we do Project Cost Management without complex (expensive) analysis?
Estimation Critical Criteria:
Wrangle Estimation failures and proactively manage Estimation risks.
– How do risk analysis and Risk Management inform your organizations decisionmaking processes for long-range system planning, major project description and cost estimation, priority programming, and project development?
– Does Project Cost Management analysis show the relationships among important Project Cost Management factors?
– Is maximizing Project Cost Management protection the same as minimizing Project Cost Management loss?
– For estimation problems, how do you develop an estimation statement?
– Why is Project Cost Management important for you now?
– Should managers do the estimation of Product Backlog Items?
Project management Critical Criteria:
Huddle over Project management visions and separate what are the business goals Project management is aiming to achieve.
– First iteration. The plan for the team is then a list of prioritized features, and who is to perform the tasks of developing the features is decided on during the iteration. What is important in the kick-off meeting to enable feedback and learning?
– How much and which way a traditional project manager has to change his/her management style or way of working in order to be an agile project manager?
– Originally, agile project management required collocated teams. How could a new product or service be developed in the 21st century without them?
– Which existing processes, tools and templates for executing projects can be applied to the agile project management framework?
– Are your current project management and time and expense capture applications outdated and expensive to update and maintain?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– What about when our product is an integration of several different products, each with their own product owner?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– How will the existing culture and organizational structure be impacted by agile project management?
– Can agile project management be adopted by industries other than software development?
– Does your organization have a Project Management Office?
– What work wouldnt get done if no more funds were added?
– Agile Project Management and PRINCE2 – one or the other, or both?
– What type of certificate will be awarded and by whom?
– What project management associations are you a member of?
– Are we ready to execute an agile project?
– What is Project Management?
– Is Project Cost Management Required?
– Needs project management?
– Who is a customer?
Project manager Critical Criteria:
Discuss Project manager projects and reduce Project manager costs.
– There is lots of discussion about the role of a project manager; whether a project manager is needed in the agile world or not. How much and which way a traditional project manager has to change his/her management style or way of working in order to be an agile project manager?
– A compounding model resolution with available relevant data can often provide insight towards a solution methodology; which Project Cost Management models, tools and techniques are necessary?
– With agile processes promoting the concept of self-directed teams, is there room for the conventional project manager or does this role also need to evolve to suit the principles of the new paradigm?
– Do we have these warning signs: This project is not that big and everyone knows what they are doing -why do we need a project manager?
– What are the actions taken by project managers when leading and implementing a transformational change initiative?
– What should the project manager(s) do differently next time your organization undergoes a change process?
– What processes do project managers and content strategists use to collect content for client websites?
– What other jobs or tasks affect the performance of the steps in the Project Cost Management process?
– What are the most important skills practitioners consider make an effective people project manager?
– What knowledge, skills and characteristics mark a good Project Cost Management project manager?
– So, if the project no longer needs a detailed master project plan, why does it need a project manager?
– Have all basic functions of Project Cost Management been defined?
– Can project managers measure project status at any point in time?
– What is the necessity of a Project Manager?
– What is the duty of a Project Manager?
– What was the project manager best at?
– Who are the project managers?
Project sponsor Critical Criteria:
Drive Project sponsor goals and be persistent.
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Project Cost Management process?
– How can we incorporate support to ensure safe and effective use of Project Cost Management into the services that we provide?
– What means can a project sponsor use to communicate?
– How can we improve Project Cost Management?
Project stakeholders Critical Criteria:
Dissect Project stakeholders visions and use obstacles to break out of ruts.
– What are your current levels and trends in key measures or indicators of Project Cost Management product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– How can you negotiate Project Cost Management successfully with a stubborn boss, an irate client, or a deceitful coworker?
– Does our organization need more Project Cost Management education?
Protologism Critical Criteria:
Prioritize Protologism management and modify and define the unique characteristics of interactive Protologism projects.
– Who is responsible for ensuring appropriate resources (time, people and money) are allocated to Project Cost Management?
– Is Project Cost Management dependent on the successful delivery of a current project?
Schedule Critical Criteria:
Align Schedule strategies and probe the present value of growth of Schedule.
– Does the tool in use have the ability to integrate with Active Directory or sync directory on a scheduled basis, or do look-ups within a multi-domain forest in the sub-100-millisecond range?
– What additional schedule (and cost) would be required if they continued at historical or any other lower burn rates?
– Is sufficient schedule time allocated to allow for dependencies on commercial off-the-shelf cots product deliveries?
– Allow import and data management processes to be immediately executed or scheduled to run on regular intervals?
– Budget and Schedule: What are the estimated costs and schedules for performing risk-related activities?
– Is there a schedule for required password updates from default vendor or manufacturer passwords?
– Have extra media been scheduled during particularly strong sales periods during the year?
– Were sponsors and decision makers available when needed outside regularly scheduled meetings?
– Has extra weight been scheduled in geographic areas of high sales potential?
– Has the time for updating the information been scheduled?
– What is the schedule and budget for data collection?
– Schedule & Phases – How long will this take?
– How do we Lead with Project Cost Management in Mind?
– Cost / schedule impact analysis required?
– Is there a release schedule for updates?
– How important is the original schedule?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Project Cost Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Project Cost Management External links:
Project Cost Management Consultants NW&SW …
7. Project Cost Management Flashcards | Quizlet
PMP 7: Project Cost Management Flashcards | Quizlet
A Guide to the Project Management Body of Knowledge External links:
A Guide to the Project Management Body of Knowledge, PMBOK Guide, 6th Edition / Agile Practice Guide Bundle PDF Free Download, Reviews, Read …
Earned Value Management External links:
Earned Value Management | Learning Tree International
Estimation External links:
Blood Alcohol Chart For Estimation – Breathalyzer
Maximum Likelihood Estimation | STAT 414 / 415
Honda Generators – Wattage estimation guide
Project management External links:
Certifications | Project Management Institute
LearnSmart IT & Project Management Online Training …
Project manager External links:
Most Frequently Asked Project Manager Interview Questions
Project Manager job description template | Workable
What is a Project Manager? – CEG
Project sponsor External links:
The project sponsor guide (Book, 2000) [WorldCat.org]
Project Sponsor – Roles and Responsibilities
Protologism External links:
World Wide Words: Protologism
protologism – Wiktionary
Schedule External links:
Oakland Raiders | Season Schedule
STARZ TV Schedule
ABC TV Show Schedule – ABC.com