Project Management

Getting the Creativity You Need

Creativity can and does happen on a schedule. It can be prompted
into awareness and action. You can be creative on demand, and you
can inspire and encourage-even require, if need be-creativity in
others. The trick is knowing how it is actually done.

Project Management

Tips for Managing a Project Budget More Effectively

Being put in charge of the money end of a project is a big
responsibility. Done well, you could help to find major success for
your team and to save everyone a lot of heartache, headache and,
well, money. Done badly, you can single-handedly derail the whole

It’s pretty evident then that it’s an important part of the
job that you need to do well or else you could find that you’re
in a difficult predicament. Managing a project budget can seem very
stressful, and as we know the consequences for mistakes are indeed
serious, but in many ways, it’s quite a simple task if taken on
correctly. But you need guidance. So, let’s look at some tips for
managing a project budget effectively.

Always Keep the Worst-Case Scenario in Mind

prepping for a serious project
it’s important that you start
out by creating a spectrum for the project, from ‘absolutely
giddily optimistic’ all the way down to ‘this couldn’t have
gone worse if we’d tried’. That spectrum is going to be
valuable for everyone on the team but will be of particular use for
you at the money end.

“Budgeting becomes a lot more guided when you have a
worst-case scenario in mind that you can base your budgeting on.
You never want to budget with everything going according to plan
because things inevitably go wrong”, says Craig Knight, a
financial advisor at Writinity
and ResearchPapersUK.
When things do go wrong, you want to be in a position where you can
adapt to deal with those issues, something which will require money
in the bank.

Keep Everyone in the Know

There can be real caginess when it comes to discussing money —
something which I’ve always found to be exceedingly frustrating,
particularly when working on projects. Money is not a taboo. A
project needs money and the people on the project need to know how
much money there is to temper their expectations.

As you move money about and distribute resources for the
project, keep people up-to-date with what you’re doing. You
don’t want someone to plan a big move thinking that there is
money in the budget for it, only to discover later that you’ve
given it away. Transparency is a good policy for ensuring that
people trust you and feel like they are being supported in the best
way possible.

Remember Budget Management is an Ongoing Task

Before a project starts, there will be an important meeting, or
series of meetings, during which the budget and where it’s needed
will be discussed and decided. That’s a vital phase that dictates
a lot of what is achievable with the project and gives you, as the
budget manager, great guidelines for how you will continue
throughout the project. That said, there’s more to it than

“As the financial manager, you need to be doing constant
analysis of the state of play, as it unfolds. Projects can be
complex things that require adaptation and flexibility as they go
on. As the money behind it, you need to be ready to adapt your own
estimations to fit the newly updated facts and figures”, explains
Emily Sakamoto, a business writer at Lucky Assignments and Gum
. The job doesn’t end until the project has fully

Use Technology

There are so
many different tools available
to project budget managers today
that demand to be used. Connected to the idea above of an ongoing
task, the technological solutions for expense and expenditure
tracking are astounding and whatever you could possibly want is

You need to keep connected to your budget in all senses as it is
distributed and used. Monitoring results and linking them back to
budget allocation is an amazing way to maximize efficiency.
Purpose-built software makes that job a whole lot easier and can
improve the quality of life on the project to no end.

Hopefully, these tips will give you a good launching off point
for your project budget management. Again, it’s a high stakes job
but not one that should overwhelm you too much. Everything you need
to do is perfectly achievable. Keep a level head and keep looking
for help when you need it!

The post
Tips for Managing a Project Budget More Effectively
first on LiquidPlanner.

Project Management

How to Make a Cost Management Plan

You know how it goes—you’re a few months out from a
deadline, and your team isn’t anywhere close to finishing the
project. You’re quickly running out of budget and time, and
you’re starting to stress.

Should you tell the stakeholders, or wait a little bit

Well, you’re not alone at least, as this situation happens to
more than
45 percent of all large-scale IT projects
. For many, this comes
both as a detriment to a project’s timeline and to the final
product, with 56 percent of projects delivering less value than
anticipated. Yikes. How can you stop this from happening?

The answer is a cost management plan.

What is a Cost Management Plan?

A cost management plan is a method of strategizing the planning
and execution of a project’s budget. Of course, this is done in
order to complete your project on time and on budget. However,
without a proper cost management plan in place, both of those
things will falter—costing you and your organization

What’s more, project success hinges on cost management, as
cost is the primary determining factor for the success or failure
of the venture overall.

How Do You Create a Cost Management Plan?

Cost management is sometimes also known by its more specific
sub-task names, like spend management, cost transparency and cost
accounting. It is typically made up of four processes: resource
planning, cost estimation, budgeting and cost control.

1. Resource Planning

Starting with the
resource plan
, project managers will typically use a work
breakdown structure to show the project and its deliverables in a
hierarchy from most important to least. This piece helps project
managers to understand where the bulk of the costs will funnel
towards, and which components of the project will require the least

2. Cost Estimation

The second stage, cost
, is a process that’s iterative—meaning that
it’s designed to change as the project changes. This stage uses
many different estimation techniques that are determined by
conceptual goals, historical knowledge, expert judgement,
determinative techniques or a component-by-component basis.

Historically-speaking, determinative techniques have been shown
to be the most accurate. However, this process only makes sense to
use once every last project detail has been mapped out—including
the scope and deliverables. For projects that are lacking fine
print, less accurate cost estimation techniques will still be
valuable during this stage.

3. Budgeting

Now, the cost estimation phase might have felt like you mapped
out your budget already, but really you just mapped out the
blueprints for your budget. Your
project budget
will be a little more precise by this measure,
and will enable the project to truly succeed.

Budgets are formed and approved after the estimation phase, and
are typically released for the project in a series of phases
depending on the project’s progress. This will help the project
reach its milestones within each budgetary phase, rather than
trying to match an overall project budget.

4. Cost Control

This one is simple—you’ll measure your project’s dollar
value performance against your total cost and timeline. This will
help provide a benchmark throughout the project process.

First, your requirements are established well in advance, during
the project planning phase. Then, they are used as a method to
challenge reasons for changes in cost. This will help to
course-correct should a cost increase out of budgetary range and
keep the project from ballooning out of control.

Ultimately, your cost management plan will help you to both plan
for the project cost, and manage your project cost throughout the
course of the project’s life cycle. As your project is underway,
your project expenses will be thoroughly documented throughout the
project so that your project can stay within budget.

Cost Management Plan Terms and Formulas, Defined

In mapping out your cost management plan, you’ll need to do a
lot of different calculations, practice many formulas and triple
check your math when you’re done. But that being said, these
actions go by many specific names. Let’s define them.

  • Work Breakdown Structure
    Similar in style to the
    waterfall method or a simple hierarchical flow chart, this is a
    product-oriented layout of work, tasks and activities to be done by
    the team members.
  • Cost Baseline: This is created by estimating
    your costs against the general time period that your project will
    take place. Your cost baseline is ultimately what you’ll use to
    compare your performance, usually illustrated on an S-curve.
  • Control Threshold: Just as you set your
    baseline, your cost threshold is the highest or lowest spend your
    project is allowed to go. Anything above or below that is deemed
  • Level of Precision: This unit of measurement
    will show how steep your cost estimates will be rounded down or up.
    Your level of precision will additionally be defined by the scope
    and total size of your project.

  • Earned Value Measurement
    This equation helps project
    managers to better measure the amount of work that has already been
    performed on said project as accurately as possible.
  • Three-Point Estimation: Using this formula,
    you’ll get three figures. The first would be your best guess (BG)
    on the amount of work an activity would take if it was performed
    100 times. The second would be your pessimistic (P) estimate, which
    is how long the project would take and how much it would cost if
    all the negative risks occurred. And your third is your optimistic
    (O) estimate if all of the positive risks occurred.
  • Bottom-Up Estimation: This formula involves
    using the smaller estimates of your project, and then aggregating
    those into a sum total to determine your overall project cost
  • Analogous Estimation: This estimate is
    calculated by comparing all past projects cost estimates and
    measuring them against your current project’s time and cost. This
    is typically done when there are few project details
  • Parametric Estimation: This estimate is
    calculated by tying a cost to each task and mapping that cost
    against the projects timeline. However many tasks there are will
    help you find your total cost estimate. This can be done in by
    using our online Gantt
    . Here, you can assign a cost to each task, and as the
    project is completed, the total cost is automatically calculated
    and compared to the budget.

Gantt chart with cost’s let
you plan and track projects and their costs—Try It
How to Properly Track Results

Half of your cost management plan is, well, managing your cost
throughout the project lifecycle.

When monitoring your project’s cost, use your benchmarks, as
they’ll be the key to decoding whether your project is on track,
behind or over budget. Because of this, you’ll want to be able to
see your planned progress against your realized progress to ensure
you’re still on track. Many people use their project management
workflow (whether that’s via the waterfall methodology, a Gantt
chart or a kanban tool) to gauge this metric.

How Helps with Cost Planning
and Tracking

Whether your next project is large or small, you’ll need to
make sure your cost estimation is as accurate as possible, and easy
to manage long-term.

you’ll have the power to customize your project reporting to get
only the data you need, plus you’ll be able to see actual project
progress on team members and their tasks.

And whether you’re using determinative techniques, historical
data, analogous estimation or three-point estimation to gauge your
project cost estimates, you’ll have a tool that can plug in your
project data and calculate your estimates for you. Additionally,
with our real-time
, you’ll be able to get a visual on the estimated
benchmarks of your project, so you can see if you’re ahead or
behind schedule with the click of a button.

project dashboard with cost
lets you track projects in real time with our online dashboards and
automated reports.

Estimating your costs and getting an accurate reading before
project kickoff is one of the most important components to ensure
project success. That’s why is dedicated to
giving teams the software they need to plan cost estimates, employ
a management plan and collaborate effectively no matter where
they’re located. Sign up for a free 30-day
trial of today.

The post How to
Make a Cost Management Plan
appeared first on

Project Management

10 Tips for Good Meeting Minutes

Minutes help with communication at work – they ensure people
have a common understanding of what the meeting was about and what
they should be doing next.

In this article we’ll look at why minutes are worth doing and
then dive into the 10 tips for taking effective meeting

Why bother with minutes?

Minutes are particularly helpful for formal meetings like

Project Boards
as they serve as a permanent record of the
discussion and the decisions that were taken.

A written record of the meeting in the form of minutes can be
especially useful for people who were not able to attend in person
as they get to see the kinds of things that came up in

Most of us will need to write minutes at some time in our

10 Tips for writing meeting minutes

Here are 10 tips for meeting minutes that will ensure your
documents are a good record of what actually happened, without
taking up too much of your time.

1. Write Meeting Minutes While You Still Remember

Don’t leave writing up your minutes until the meeting is a
distant memory. If you can’t remember everything, get someone
else to read your minutes and clarify any points before you send
out your final version.

Even better, get someone else to take notes, and then compare
your version with their version to produce the final version.

Use the
meeting agenda
to remind yourself what topics were

2. Start With an Action Review

Whether or not you reviewed the actions from last time at the
beginning of the meeting, put them at the start of the minutes.

Write down all the actions from the last meeting and a summary
of progress against them.

If the action was completed, don’t bother to write it out
again. Instead, add a line at the top of the action section that
says ‘all other actions were completed or are no longer

3. Document Actions and Owners

During the meeting, you will have written down the new actions
from this meeting and who will do them.

In the minutes, include these actions in the flow of the text.
You can also include an action summary at the end of the

Tabular format works well for this. Remember to include the
names of the people who are going to work on these actions and, if
possible, a date by which they are going to have the task

Transcription software for meetings
is another way of making
sure you’ve got a good record of what was agreed.

4. Record Who Was There

You will have included the names of attendees on the calendar
invite and also the agenda, but who actually turns up to the
meeting could well be different!

Make a note at the top of your minutes to reflect who attended
and who sent apologies at the last minute.

5. Include Images

If you use flip charts or mind mapping software in the meeting,
include links to the documents, screenshots or embedded files.

You can take photos of what you wrote on flip charts with a
phone camera – the resolution will be good enough to include in
the minutes.

Elizabeth presenting

This is my favourite tip for meeting minutes! I have been known
to snap pictures and insert them in my documents and my colleagues
love it!

Photos are so much easier than trying to use words to describe
what was drawn on the board.

6. Use a Standard Template

If your company does not have a standard
template for minutes
, make one up, or ask your PMO.

Using a standard template saves you time. Your attendees will
also get used to reading the minutes in that format, especially if
the meeting is held regularly.

Tips for Better Meetings7. Document Decisions

Use your minutes to confirm the decisions that were taken in the
meeting. For example, make a note of any project change requests
that were approved or rejected, or budget decisions.

If the group decided anything, write it down! This is a good way
to “help” people remember when, in a few months, they ask you
why something is being done. You can refer back to the discussion
in the minutes.

8. Use Tables

A tabular format works well for minutes.

Use three columns: item number, discussion summary and action

People can scan down the right-hand column for their initials to
see what actions they picked up.

This format works well if your minutes record lots of actions.
If the meeting is mainly discussion with few actions, this column
then looks bare. Choose a format that works for you.

You can also type your minutes directly into a word processing
package without entering the text in a table, but use sub-headings
to flag which area of discussion you are writing about.

meetings template kit9. Send Minutes Out

Ideally, you should send out minutes within the week. Sooner is
better. And they should definitely be circulated before the next

Send them to people who weren’t able to attend as well, so
they can see what they missed.

You may also have people who want to be copied in on minutes but
who weren’t on the attendee list, for example your line

Aim to get your minutes out within 3-5 days of
the meeting taking place.

meetings infographic
10. Have Minutes!

Yes, you really do need to have minutes for your meetings!

At least, you do for the formal meetings — the ones that
involve decisions, budgets or responsibilities being allocated to
other people.

If you are working on a project, that’s important too: the
project needs a record of what was discussed, so you should record
the meeting.

It’s OK not to have minutes for informal meetings, but most
meetings will benefit from having a written record, even if this is
just a quick email sent to attendees after the event.

Want More Meetings Resources?

For a full set of meeting management resources including agenda
and minutes templates suitable for all kinds of meetings plus
preparation checklists to help you organise your meeting successful
AND an ebook including strategies on how to chair a meeting, then
get my Meetings
Template Kit
. It contains everything you need for better, more
productive meetings.

meetings template kit
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10 Tips for Good Meeting Minutes

The post 10 Tips
for Good Meeting Minutes
appeared first on Girl's Guide to Project

Project Management

New PM Articles for the Week of February 17 – 23

New project management
articles published on the web during the week of February 17 –
23. And this week’s
: Harry Hall shares his list of inputs for your project
risk management plans. 2 minutes, safe for work.

Ethics, Business Acumen and Strategy

  • Greg Satell
    reflects on the growing need for us to consider the
    ethical dimensions of the technologies we develop and field. 5
    minutes to read.

  • Richard Smith-Bingham and Kavitha Hariharan
    explain why the
    coronavirus epidemic is a global business risk and make the case
    for business investment in pandemic resilience. 6 minutes to

  • Azeem Azhar
    interviews Ian Bremmer on geopolitics, technology,
    and the top risks for the decade ahead. Podcast, 43 minutes, safe
    for work.

Managing Projects

  • Henny
    examines the International PMO standard under
    development by the AIPMO. 7 minutes to read.

  • Elise Stevens
    interviews Anita Phagura of Fierce Project
    Management, a networking group for women and underrepresented
    groups in project management. Podcast, 29 minutes, safe for

  • Deb Schaffer
    tutors us on the basics of scope management. 3
    minutes to read.

  • John Goodpasture
    ruminates on projects as transactions. Or
    possibly relationships. Or maybe both. 2 minutes to read.

  • Mike Clayton
    explains the difference between a milestone and a
    deadline. Video, 3 minutes, safe for work.

  • Pat Weaver
    has compiled a map of philosophies and principles
    that shape planning approaches. Culture dominates our
    decision-making! 7 minutes to read.

Managing Software Development

  • Stefan
    curates his weekly list of Agile content, from an
    interview with Kent Beck to Agile leadership to organizing your
    backlog. 7 outbound links, 4 minutes to read.

  • Gábor Zöld
    curates his monthly engineering management
    resource roundup, from Two Sigma to feedback to celebrating
    achievement. 10 outbound links, 4 minutes to read.

  • Doc Norton
    identifies the metrics he recommends for measuring
    agile efficiency, despite a preference for effectiveness. 3 minutes
    to read.

  • Ayush Jain
    explains the product manager role and
    responsibilities in the modern product lifecycle framework. 5
    minutes to read.

  • Marcus Blankenship
    interviews Ellen Gottesdiener on improving
    the product management lifecycle with better collaborative
    decision-making. Podcast, 49 minutes, safe for work.

  • Michel van der Meulen
    maps out the transition from a business
    analyst role to a product owner role. 4 minutes to read.

Applied Leadership

  • Cory Foy
    lists ten questions you should ask before introducing
    change to your team. 4 minutes to read.

  • Jennifer Jordan
    and colleagues explore seven tensions between
    traditional and emerging leadership approaches. 7 minutes to

  • Adriana Girdler
    explains the Tuckman model of team development
    stages. Video, 7 minutes, safe for work.

Cybersecurity and Data Protection

  • William
    reports on an incredibly sophisticated social
    engineering and corporate Email fraud ring that investigators have
    dubbed Exaggerated Lion. 6 minutes to read.

  • Michael Kan
    reports that the US Defense Information Systems
    Agency, charged with securing US military communications, may have
    been breached. 2 minutes to read.

  • Thomas Fillaud
    makes six cybersecurity predictions for 2020.
    Keep an eye on machine identity security and global supply chain
    security. 3 minutes to read.

  • Suzanne Lucas
    provides an HR practitioner’s view of what
    compliance with the California Consumer Privacy Act means for HR
    data. 3 minutes to read.

Pot Pourri

  • John Schwarz
    reports on how on-the-job training is replacing
    the graduate degree. 6 minutes to read.

  • Elizabeth Harrin
    notes that, from robotics and automation to
    artificial intelligence, the future of work is already here. The
    challenge is to harness the benefits. 5 minutes to read.

  • Leigh Espy
    does a deep dive into Tim Hurson’s new book, Think
    Better. 10 minutes to read.


Project Management

C6 advanced tv system


Project Management

Collocation_ Huong le Class

common English collocation for high school students

Project Management

Premius name-codeing @[vijay.vijay jyot-prasanneth.sawant-bhonsle].

Presentation Submitts from me.

Project Management

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Project Management

Golden in Death (J.D. Robb) ebook download links

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