5 Facts From Project Management Accounting
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Uncover 5 nuggets of information from Project Management Accounting, a book by Callahan et al that covers everything you want to know about project management financials. This short presentation digests some of the data and gives you a flavour of the whole book.
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1) A power versus interest grid to categorize stakeholders based on their power and interest levels
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4) Additional grids to assess stakeholder support, opposition, capabilities, and strategies for implementation.
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This document discusses project and portfolio management solutions for healthcare organizations. It describes Tivitie as providing end-to-end Microsoft-based PPM solutions and services with over 15 years of experience. It outlines key drivers in healthcare that increased projects, such as regulations from HITECH, HIPAA, and the Affordable Care Act. An effective PPM solution can help organizations prioritize projects, understand capacity, track costs and labor, and provide visibility and reporting on projects. The document shares a case study of St. Luke's Health System that improved project management with Microsoft Project Online to gain efficiencies and portfolio visibility.
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This document discusses the logical progression of a Project Management Office's (PMO) level of maturity as an organization's maturity level increases. It outlines five levels of a PMO from basic to advanced that align with the five levels of the Capability Maturity Model Integration (CMMI) framework. At each increasing level, the PMO takes on more responsibilities such as standardized processes, project information management, quantitative process management, and enterprise-wide continuous improvement. Relating the PMO level to the organization's maturity helps ensure the PMO evolves appropriately to support the organization's capabilities.
Running Head PROJECT MANAGEMENT METHODOLOGIES & TOOLS1PROJE.docx
Running Head: PROJECT MANAGEMENT METHODOLOGIES & TOOLS 1
PROJECT MANAGEMENT METHODOLOGIES & TOOLS 5
PROJECT MANAGEMENT METHODOLOGIES & TOOLS
Mekdes Asaminew
Rasmussen College
05/16/2020
FAQ document
What are project management tools?
These are the instruments which project managers use to plan, execute as well as manage plans in one centralized virtual location. These tools vary from team to team depending on the tasks to be performed in the project. The project management tools include; project management software, real-time instant messaging tool, knowledge base tool and file sharing tool.
What is project management software?
This is computer software which helps the project team members to collaborate during the project, plan all their activities as well as to record all the collected data.
What is a real-time instant messaging tool?
It is a tool that allows team members of a particular project to talk and video call with colleagues in real time. This tool helps improve collaboration of the team members and allows all people to collectively provide their opinions on different matters during carrying out the project.
What is knowledge base tool?
It involves a search database that allows individual to store the combined wisdom of the team members and ensures that the information is accessible to all members
What is a file sharing tool?
It is a tool which allows people to save sync and share files. It ensures that all the documents provided by team members are well stored and easily retrievable for future reference. (Bilal.et.al, 2017)
What are project management methodologies?
Project management methodologies are basically the different techniques which are used to approach a given project; every methodology of project management has its unique process and workflow. They are classified into “traditional or sequential methodologies, agile methodologies, the change management methodologies and process-based methodologies.”
What are the traditional or sequential methodologies?
These are the methods of managing a project which involve a sequence of tasks which lead to the final deliverables and project managers are required to ensure that the tasks are worked on them in a given order. The methodologies classified under this category include;
· Waterfall project management methodology; involves completing a certain task before beginning another task in a linked sequence of objects which adds up to the general goal. It is used in projects that create physical objects like building a computer.
· Critical path method; it involves prioritizing and allocating available raw materials to ensure the most crucial task is done as well as rescheduling lower priority task.
· Critical chain project management; involves a technique for putting main concentration on the needed materials.
What are agile methodologies?
These are project management methodologies which prioritize on shorter iterative cycles and flexibility. They are categorized .
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- 1. 5 Facts From… Project Management Accounting by Kevin R. Callahan, Gary S. Stetz and Lynne M. Brooks Elizabeth Harrin www.GirlsGuideToPM.com
- 2. “Project control consists of one primary process: project status reporting.” 1
- 3. Inputs to the budget process include: • An understanding of the deliverables • A list of tasks required to achieve the deliverables • A list of resources required (personnel and others) • Estimates of effort needed to complete the tasks • A list of constraints about resources including availability and need for training • A schedule with start and end dates for each task 2
- 4. “A project’s budget must be based on the company’s strategy and financial goals.” 3
- 5. 4 “Variable costs are those that change in direct relationship to changes in the activity that triggers the cost.” “Fixed costs remain the same despite increases or decreases in business activity.”
- 6. 4 reasons to understand project cost: • It is used for forward planning and creating budgets • It is used for decision making • It is used to compare actuals to budgets and understand the variance • It is used to calculate income from company operations and projects 5