Earned Value Management Challenges

Earned value management system is a robust methodology to integrate schedule, scope, and cost baselines of a project. EVM is an analytical tool that also uses variances to track schedule and cost performance of a project. It further uses efficiency indicators to forecast project health. Though EVM analysis offers numerous benefits, implementing this technique offers some challenges. The following paragraphs enumerates important earned value management challenges. Read More

Wrong Cost Estimates Implications & Solutions

During project execution most of us have dealt with the issue of wrong cost estimates. This issue becomes a serious concern especially when you are working on a fixed price contract, these contracts pose a great risk to project margin as the team has to work with zero escalation of costs until the delivery of the project. While developing the budget for a new project it is an accepted practice to refer to costs incurred in a previous similar project. Read More

12 Essentials for a Project Manager

Project Manager often has to function without formal authority over the team. A project manager is expected to produce results by working outside the hierarchical structural of the organisation and without any kind of authority within their realm of operations. Mostly a project manager does not conduct performance appraisal, offer rewards and incentives to his… Read More

Matrix Organization Structure Disadvantages

Matrix Organization Structure Theoretically, we have three main types of project organizations viz; functional, projectized, and matrix organization structure. The matrix organization structure has been further subdivided into weak and strong matrix. Irrespective of the nomenclature, the problems faced while working in matrix organization structure remains the same. Matrix Organization Structure Disadvantages The most serious… Read More

10 Project Management Pitfalls To Avoid

Project Management Pitfalls Not all goes well while managing a project. A list of project management pitfalls that can be avoided while executing a project is appended. (a)¬†Scope Management: All projects whether small or large should have a clear well defined scope. The scope definition should also be included while assigning work to various sub… Read More

When a project team member fails to deliver?

A reluctant project team member You are part of a project team which has been assigned a project with a tight deadline that is not extendable. One of the project team member fails to deliver on the part of the project assigned to him at the fag-end of the project despite his assurance. All the… Read More