by Mounir Ajam | Mar 26, 2024 | Applied Project Management (4PM)
Many, if not most, people in project management know Murphy or Murphy’s Law. According to the Murphy’s Law, “If anything can go wrong, it will. “ What does this mean to us in project management? There are many meanings; however, it is basically about accepting the...
by Mounir Ajam | Jan 30, 2024 | Project Management Humor, Project Management Terminology
Project Management Terminology How do you kill, execute, or decompose a project? Project management is a serious business, but having fun with this exciting domain does not hurt. In this post, we decided to play on words and learn the language of the living dead that...
by Mounir Ajam | May 19, 2020 | Megaprojects, Risk Management
Part of the following is from our book on Leading Megaprojects, A Tailored Approach. It is about the illusion of risk transfer that project owners might experience as a result of fixed-price contracting. We will first address the culture of fixed-price contracting,...
by Mounir Ajam | Jun 28, 2017 | Project Management Maturity, Project Success, Projects Failure
Many, if not most people in project management know Murphy or Murphy’s Law. According to the Murphy’s Law Website, “If anything can go wrong, it will”. For more information about the origin of this law,...
by Mounir Ajam | May 3, 2014 | Risk Management
This is the third article of a 3-part series on the money aspects for project risk management, including a discussion on estimating, budgeting, contingency and management reserve. In this article we discuss the response cost. Response cost We have to split the...