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You are the project manager on a construction project where you are deliberating between renting, leasing or purchasing a large piece of equipment. Equipment pricing: Rent at a cost of $2,500 per day; Lease for a 60 day period at $2,500 per day, with a 10% discount; Purchase at a price of $100,000. By looking at your project schedule, you have estimated that you will use the equipment about 50 to 60 days. Based only on price, which decision would you recommend?
Your organization and a seller have just agreed to a contract with a total cost of $150,000, an estimated profit of $10,000, buyer/seller sharing of 70/30 and a ceiling price of $170,000. What is the PTA (point of total assumption)? A. $170,000 B. $160,000 C. $164,2...
In this blog series, we'll get you up to speed on using the key tools listed in the PMBOK® Guide, including Decision Tree Diagrams.
Most project team members report to a functional manager who controls their assignments, performance appraisals, raises, bonuses, etc. Until recently, project managers (PMs) had little input into any of these processes. In this paper, learn how a PM working in a functional or matrix organizational structure can get team members to perform.
In this blog series, we'll get you up to speed on using the key tools listed in the PMBOK® Guide. First up, Work Breakdown Structure (WBS).
The tools described in this white paper are essential PM tools. Tools that will best be used, regardless of the project, are the WBS, communication model, and the precedence diagram. The other tools will be needed depending on the project.
Good global project managers develop their own competencies, and those of their team members. We can use technology to bridge distance, but also focus on the human aspects of culture, work habits, management style, English as a mandated language, communication, and uncertainty. Perform a self-assessment and assess your team members, then look for on-the-job and other improvement opportunities. A good way to learn more about how to overcome these challenges is to become involved in the international community.
Young adults unable to find work, employers unable to fill jobs, a recent GAO study that reported substantial declines in telecommunication expertise — there has been a lot of news about the pervasiveness of skills gaps, their causes, the actual impacts and what to do about them. It’s rather confusing, because the term “skills gaps” has been hijacked to politicize an extremely wide range of issues.
In this series, we are looking at six things that can trip up project managers. We’ve covered the hazards of overcommitting, how to provide feedback, the importance of taking responsibility, staying focused, and what leading from the front can actually look like. Finally, we’ll take a look at handling team input.
Communication is vital within projects and contributes significantly to project success. PMs and BAs have important—and different—roles. Let's take a look.