By Ray Myers, Jr., PMP Congratulations!  You have been assigned to manage your next project and you’re eager to get started with planning. There’s a lot to be done, build the WBS, schedule the work, assemble the implementation team, and meet with the client.  But with so much to do, what should you do...
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By Ray Myers, Jr., PMP What are the first four things you should do when you begin a new project?  It’s a good question and every project manager should know the initial steps he or she will take when beginning a new assignment.  Starting on the right foot may not prevent future problems, but...
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By: Ray Myers, Jr., PMP The RACI Matrix is widely used by project managers to identify project roles and responsibilities.  It clarifies team member responsibilities and clearly displays who is responsible, who is accountable, and who needs to be consulted and/or informed of project activities. Responsible (R) – This is the person that owns...
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“Work expands so as to fill the time available for its completion.” (Cyril Northcote Parkinson, 1909-1993, English political scientist, historian and writer, from his book, Parkinson’s Law – The Pursuit of Progress, written in 1957.) The fuller vesion of the quote known as ‘Parkinson’s Law’ is: “Work expands so as to fill the time...
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By Ray Myers, Jr., PMP Project managers frequently ask if it is possible to manage multiple, simultaneous projects.  The answer is, it all depends; it all depends on the size and scope of the projects being managed. Consider the following situations: A project manager responsible for the construction of a 6 lane bridge over...
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By Ray Myers, Jr., PMP  If you fail to plan, you are planning to fail – Author unknown  Today’s business climate requires new and creative new business initiatives to capture market attention and to stay ahead of the competition.  Senior managers often believe that these new business strategies are so important to corporate survival...
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By Ray Myers, Jr., PMP Early in the initiation or planning phases of a project, the project manger should document all project assumptions.  Before we discuss documenting assumptions, we should be sure that we understand what they are. The American Heritage dictionary defines the word assumption to be: Something taken for granted or accepted...
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By: Ray Myers, Jr., PMP The accuracy of an estimate can be improved by considering uncertainty and risk.  PERT uses 3 estimates to define a range for an activity’s cost.  This formula can be used for cost estimating and for scheduling. Most Likely – based on a realistic assessment Optimistic – estimated cost based...
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By: Ray Myers, Jr., PMP There are 4 cost estimating techniques discussed in the PMBOK: Expert Judgment Influenced by variables such as labor rates, material costs, inflation, risk factors, etc. Guided by historical information and insights from prior similar projects May be used to determine whether to combine other estimating methods or reconcile differences...
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By: Ray Myers, Jr., PMP The accuracy of project cost estimates varies depending on position in the project life cycle. Rough Order of Magnitude (ROM) Very early in the project ROM estimates are used for selection decisions Accuracy is usually plus/minus 50%, but could range from -25% to +75% Budgetary Early in the project...
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