Example of simple PMO cost trend analysis tool
The last post, How a PMO can use cost trend analysis to identify project budget under and overruns, it covered how using cost trend analysis can help a PMO quickly identify where there may be budget issues. This post will cover a simple approach that can be used to conduct this analysis. Objective The objective…
How a PMO can use cost trend analysis to identify budget under and overruns
One of the responsibilities of project manager is to manage the project budget. This covers, estimating the initial budget (in most cases or at least reviewing), creating a monthly budget plan, tracking progress (actual) spend and then re-forecasting budget required (known as the estimate to complete – ETC). Unfortunately, while some project managers are very…
PMO tips – Importance of meeting logistics
This may appear to be a strange topic to cover in a post. However, if you stop to think, a meeting has usually been organised for a very good reason (if not do not hold the meeting). It involves a number of people giving up valuable time which is a cost to an organisation. Some…
PMO tips – 5 actions for a PMO to quickly add value
Unfortunately, there is still an unfair perception that PMO’s add little value, often being labelled as adding layers of bureaucracy. While completely untrue, this is something that anyone tasked with setting up a PMO needs to be aware of and actively manage. An important aspect to managing this is delivering value early. Unfortunately, most stakeholders…
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