The question that we address today is how to develop good cost estimates? We will present our views via four videos on cost estimating, that would address topics like, what are the components of a good estimate, what is the difference between estimating techniques and estimate classifications, and how to estimate contingency reserve. In addition, we will also highlight the relationship between scope definition, uncertainty, contingency, and estimate accuracy. One more statement/question here, do you realize that if the project manager is developing the cost estimate, that could be a conflict of interest?
You can probably claim 2 PDU for this article if you watch all of the videos. Assuming, you need PDUs.
This post started out as a video but we are expanding on that. We are including the video in this post. We also include the transcripts but modified to make it appropriate for written text and will include additional notes on points or clarifications that were not mentioned in the video. The key question that we are addressing today is: Is political correctness skewing the purpose of the monitoring and controlling processes? Continue reading →
Mastering project management is not an easy task. Sure we can learn some concepts in a course or two. We can demonstrate knowledge by passing a certification exam. We can learn the theory by reading a book. However, to master a domain, like project management, requires significant effort, and time. Did we say time? The first step in mastering project management is to understand the project management fundamentals. The Fundamentals is the first essential adventure in the SUKAD PM Quest.
Project Management Fundamentals
Here are some questions:
Can a risk event be good?
Is it possible that a 5-star hotel is a ‘bad’ quality hotel?
Do we still use the term ‘task’ in project management and what does it mean?
Is the project manager a clerk or an executive – strategic leader?
How to differentiate between output and outcome?
Why “pre-project” is not part of the project life cycle?
What is a phase or a stage?
Are Oranges – orange or blue?
Many of these questions are fundamentals concepts that we must learn them before we can build the organization project management function or methodology.
Click on the Orange Picture to access the course.
Mastering Project Management
Notice we are using the verb form mastering and not ‘master’ because we do not know if anyone can truly master (all of) project management. I have MSc from a top university in project management and more than three decades of experience and I dare say that I have mastered project management. So why Mastering? Because mastery is an ongoing effort. We can Master a subject, a skill, or even more. This is why we are developing The Quest to Mastering Project Management, PM Quest, and with many themes. The various themes cater toward different interest and focus.
Notice, the Fundamentals on top, which is not a theme, it is a prerequisite to all of the themes.
The following image shows the structure of the PM Quest.
Since we are just starting this strategic program, the above image represents the vision. Many of the courses (adventures) are available on PowerPoint for a physical classroom setting. The challenge is to convert as many of them to fit the online environment. We aim to have a new course every few weeks. We released the Overview last week (mid-April 2018). Our team will be releasing The Fundamentals today or tomorrow at the latest (24 April 2018). We will release our next adventure by mid-May.
The following image presents the possible routes a learner can consider to build a learning path. The yellow path is our recommendation for the first path.
Project Management Coach, A Click Away
We want to hear your feedback, comments, suggestions, or even critique. You can email us at PMCoach@sukad.com or join us on the various social media channels of SUKAD or even the dedicated groups that we set up for the PM Quest on LinkedIn and Facebook.
Remember, your project management coach, a click away.
In numerous discussions online, even in guides like the PMBOK Guide, there is so much focus on the project rather than the organization and on the project manager rather than organizational project management.
There is an interesting discussion going on ProjectManagement.com, under the title “How do you determine your next certification(s)?”. It is a good discussion and offers the perspective of many professionals. However, I am the only one who has suggested an alternative approach. Continue reading →
Every once in a while we focus on a certain topic and write a few articles about. Recently, we had a few posts with videos on terminology differences, and before that, we cover agile for capital projects. The most recent posts have been about large-complex, or mega projects.
We have to admit, today’s post might reiterate some points from earlier posts — AND — it is also a bit commercial in nature since it is related to a learning program that SUKAD has developed and is offering to deal with the challenges of mega projects.