In today’s fast-paced world, there appears to be a greater emphasis on getting things done quickly. Still, organizations are always looking for ways to get things done while reducing costs. This is especially true for fixed-bid projects, where profit margin is derived from the difference between the bid and actual cost of the project. Every…
Tag: Project Management
6 Methods to Build The Perfect Project Cost Duration Graph
This article is the third part in a miniseries on building a project cost duration graph. The first part can be found here and the second part here. If you have already read them please ignore this paragraph. If not I would encourage you to read them first as they will provide you with a…
9 Easy Ways to Speed Up Project Delivery
This is the message sent to the Government in a keynote speech by the recently appointed HS2 Chairman Sir David Higgins in Manchester on Monday as he delivered his long awaited review, HS2 Plus, of the mega project’s direction, costs and project delivery method. The best way of keeping costs down for the £50 billion…
Building High Performance Teams: Recruiting Team Members
Project managers play a key role in developing high performance teams. They recruit members, conduct meetings, establish a team identity, create a common sense of purpose or a shared vision, manage a reward system that encourages teamwork, orchestrate decision making, resolve conflicts that emerge within the team, and rejuvenate the team when energy wanes. Project…
Project Team Synergy: How to Deliver High Performance
There is positive and negative project team synergy. The magic and power of project teams is captured in the term “synergy,” which is derived from the Greek word sunergos: “working together.” The difference in productivity between an average project team synergy and a turned-on, high-performing project team is not 10 percent, 20 percent, or 30…
The Punctuated Equilibrium Model of Group Development
Starting from Gersick’s research, stating that groups don’t develop in a universal sequence of stages as suggested by the five-phase model. Her research, which is based on the systems concept of punctuated equilibrium group development, found that the timing of when groups form and actually change the way they work is highly consistent. The Punctuated…
The Five-Stage Team Development Model
The Forming – Storming – Norming – Performing team development model was first proposed by Bruce Tuckman in 1965, who maintained that these phases are all necessary and inevitable in order for the team to grow, to face up to challenges, to tackle problems, to find solutions, to plan work, and to deliver results. This…
Learn How to Perform An Effective Stakeholder Analysis
Stakeholder analysis in project management is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them. This information is used to assess how the interests of…
Define A Complete Risk Log Using This Template
A Risk Log/Register is a Risk Management tool commonly used in risk management and compliance . It acts as a central repository(Our Risk Log Template will cover all bases ) for all risks identified by the organization and, for each risk, includes information such as source, nature, treatment option, existing counter-measures, recommended counter-measures and so…
Building Trust the Key to Exercising Influence
We all know people who have influence but whom we do not trust; these individuals are often referred to as “political animals” or “jungle fighters.” While these individuals are often very successful in the short run, the prevalent sense of mistrust prohibits long-term efficacy and hinders them from building trust. Successful project managers not only…