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Earned value is a way to measure true cost performance; i.e. – what we spent versus what we actually accomplished. Although this is an easy concept to grasp, many organizations avoid using earned value due to the perception that it is difficult to implement. These organizations still rely on forms of traditional cost management systems [...]

Frame agreements are commonly used in project-based procurement, where high degrees of collaboration are required in the design, procurement and manufacture (or construction in some cases) of major deliverables. For instance, frame agreements are common in the Oil & Gas, Industrial Power Generation, Heavy Construction, Aerospace and other industries involved in the development and [...]

Project managers are leaders. They are expected to motivate their teams, manage stakeholder expectations, satisfy stakeholder needs, establish and maintain control of their projects, and most importantly exercise sound judgment and make good decisions that result in delivery of successful project outcomes.
Leadership in itself can be a nebulous concept, and the [...]

The predominant metric for most procurement organizations is cost savings. Traditionally, cost savings have been measured primarily on purchase price, usually against some form of standard cost based on historical prices. Over the years, more progressive organizations have come to realize that for many products, cost savings as measured against purchase price history [...]

So what does it take to be a good project manager?
Leadership
The first and foremost is a project manager must be a leader. We’ve covered some basic leadership principles in previous posts, but it is so fundamental to the project management role that it bears covering again. When leading a project team (or any other group [...]

Project definition and distinguishing characteristics
The goal of project management is to achieve defined objectives, referred to as outcomes or deliverables. Project outcomes are unique and non-repeatable, and projects are time-constrained endeavors, with a definite beginning and an ending. This chapter will discuss these aspects of projects, and the differences between projects and operations.
Limited [...]

As a leader I believe it is imperative to trust my people.  However, it is a well known fact that what we say is not always what people hear.  So while I have implemented a “command by negation” philosophy (taken from my years in service as a Naval Officer, meaning I give the goal and [...]

Most executives acknowledge that integrating key functions and processes is critical to maximizing profits; however, few businesses have formal integration programs. Generally speaking, businesses either leave integration to chance (no emphasis at all), or in the hands of C level executives who may assume that integration will be a natural outflow of strategic business [...]

Supply chain management (SCM) is often focused on continuous production
environments where the emphasis is placed on strategies such as leveraging
purchases through bulk buys, forming alliances, outsourcing catalog items and
minimizing nonstandard purchases. However, SCM also plays a critical role in a
project-based environment where it’s often not possible, or desirable, to eliminate
purchases that are customized or low-volume [...]

All of life’s endeavors contain an element of risk.  Whenever you drive, there is a risk you will get in an accident.  When you make a purchase, there is a risk you will not be satisfied.  When you get married, there is a risk that it won’t work out.  The list goes on…
However, most of [...]