Eric Morkovich | Your Guide to Project Management Best Practices - Part 16

Your Guide to Project Management Best Practices

Author: Eric Morkovich

Project Cost Management – Definition, Process and Software

PM Tips & Ideas

How to Estimate Project Costs and Prevent Overspending

What is project cost management? It is a suit of activities for estimating, allocating, and controlling costs within the project. Project cost management allows determining and approving budget for the project and controlling spending. For example, in construction project cost management it is vital to estimate cost of building materials, equipment, salary of workers. In IT project cost management it is critical to estimate cost of software development, salary of IT staff and developers. Effective project cost management allows each project to be specific and unique because that project entails costs and requires specific funding. However, no matter whether you lead a software development project (IT project cost management) or construction project (construction project cost management), you should consider project cost management as a process that consists of the three key steps.

Project Charter As Agreement Between Project Stakeholders

PM Tips & Ideas

Project Charter As Agreement Between Project Stakeholders

Project Charter is a primary document that states contains initial requirements for a project to meet the expectations of stakeholders. Formally, Project Charter is an agreement between an organization which is committed to producing a product/service and a customer which requests and receives the product/service. Practically, Project Charter is a planning tool that helps set obligations, rights and privileges for all groups and individual involved within a project.

how to achieve project goals

How-to Guides

How to Set and Achieve Goals of a Project

Many people involved in managing projects and setting project goals face one and the same difficulty that refers to proper goal setting and achieving. The difficulty is that people cannot realize what things within the project are really important; they may also have weak motivation goals; they do not plan for future activities and cannot forecast; they do not understand the importance of setting measurable goals of project; etc. The list of reasons for improper project goals setting can be supplemented with other reasons. If you want to learn how to set project goals properly in accordance with your expectations and how to achieve project management goals within expected deadlines, then read this interesting article.