Your Guide to Project Management Best Practices

Challenges of Project Contingency Planning and Management

PM Tips & Ideas

Challenges of Project Contingency Planning and Management

In simple words, project contingency planning and management is a series of activities to create a feasible plan “B” and follow it in case of necessity. In the project management discipline, such a plan is called a project contingency plan. The planning and management of unexpected and uncertain events are always critical to the success of a project because risks cause the project failure and reduce the probability of project completion. Project contingency planning and risk management are the key activities that make your project initiative successful and achievable in terms of time, quality and money.

Cost Projection Statement and Analysis

PM Framework

Cost Projection Statement and Analysis

Stating cost projection is an activity carried out during the project initiation phase to identify costs for development, implementation and maintenance of the project. The analysis of costs is a tool of project cost planning and management to identify, estimate and describe total cost of project management initiative. Cost projection statement and analysis are required activities that allow making the project estimated and well-grounded in financial terms. Among other tools, cost projection estimates and spreadsheets are used to develop the project charter. They are developed with help of project costing software.

project scope statement

PM Tips & Ideas

Project Scope Statement

How to write a project scope statement document? This question is the central one during the project initiation phase because a well-written project scope statement example is the guarantee that the project description, boundaries, deliverables and approaches are determined and stated in clear and unambiguous terms. In this article we will talk about the project scope statement definition and what sections are included into the scope statement document.

Goals of a project

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Project Goal Statement

A Project Goal Statement is a clear picture view of what is to be accomplished by the project. It is a formal document to be created at the Initiation Phases showing the project context, including the project purpose, the quality focus, and the viewpoint. The project goal statement document should clearly and unambiguously point at the benefits that the sponsoring organization will gain in case the project will be successfully completed.

statement of project vision

PM Tips & Ideas

Project Vision Statement

A Project Vision Statement is an idealistic view of the desired outcomes to be produced for the business after successful project completion. It is a vivid description of what the business will be like to inspire the project beneficiaries to initiate the project. The vision statement document is an attempt to visualize the project results at the initiation phase in order to focus the business on those benefits it will gain after the project accomplishment.