Project Management - CMGuide

Estimating a Project for Planning Purposes

When a project or collection of projects is in the idea or concept stage, you want to put together a high-level estimate to see whether or not the project is worth pursuing. You typically do not want to spend too much time working on a detailed estimate at this point, since you do not know if the idea is a worthwhile. Basically, you just want to know the relative magnitude of the effort. While you may be asked to provide a high-level estimate of the cost, the business people are also struggling to try to understand and quantify what the benefits of the project will be. …

Estimating a Project for Planning PurposesRead More »

Tips for Creating a Work Breakdown Structure (WBS)

Detail and Summary Activities

If you look at a WBS activity and determine that it needs to be broken down to another level, the original activity becomes known as a “summary” level. A summary activity does not have any work or hours specifically associated with it. It represents a logical roll-up of the activities that are under it. …

Tips for Creating a Work Breakdown Structure (WBS)Read More »

PMP Hints, Project Management

Work on the Project Charter, Schedule and Budget Simultaneously

There is not necessarily sequential order between defining (planning) the project and building the schedule and budget. That is, you do not have to completely define the work first and then build the schedule and budget second. Some of the sections of the Project Charter, such as the estimates for cost and duration, cannot be completed without starting to lay out the overall project schedule. …

Work on the Project Charter, Schedule and Budget SimultaneouslyRead More »

PMP Hints, Project Management

Estimating Threshold

When you create a schedule you generally don’t know enough to enter all of the detailed activities the first time though. Instead, you identify large chunks of work first, and then break the larger chunks into smaller pieces. These smaller pieces are, in turn, broken down into still smaller and more discrete activities. This technique is referred to as creating a Work Breakdown Structure (WBS). …

Estimating ThresholdRead More »

Construction Law, Contract Administration, Project Management

Retrospective Delay Analysis Techniques

In the Society of Construction Law Delay and Disruption Protocol, four retrospective delay analysis techniques are referred to, as follows:
1. As-Planned v As-Built.

2. Impacted As-Planned.

3. Collapsed As-Built.

4. Time Impact Analysis.

A brief analysis of each of these delay analysis techniques is given below.

…

Retrospective Delay Analysis TechniquesRead More »

Construction Industry, Construction Law, Construction Technology, Contract Administration, General Management, PMP Hints, Procurement Management, Project Management

Opening and Closing remarks of Construction Lifecycle Risk Management Conference

1 Comment

Construction Lifecycle Risk Management Conference

Date: 17^th & 18^th April 2011

Venue: Sheraton Abu Dhabi Hotel & Resort, Abu Dhabi, UAE

Welcome and Opening Remarks by the Chairperson, Samer H Skaik

Ladies and Gentlemen,

Good morning.

I am delighted to join our speakers in welcoming you all and open this Conference on “Construction lifecycle Risk Management” in Abu Dhabi.

It gives me great pleasure and honor to chair this conference. I am so happy that we have in this hall, dedicated individuals from different backgrounds and expertise, from various industries across the GCC region. Those delegates who travelled for miles remind us how important this conference is. Thank you all for coming.

…

Opening and Closing remarks of Construction Lifecycle Risk Management ConferenceRead More »

PMP Hints, Project Management

Inherent Risk Factors

Inherent risks are those that exist based on the general characteristics of the project. These are risks that can appear regardless of the specific nature of the project.

None of the inherent risks mean that the project is in trouble. Many of these risk factors will be rated as low or medium-level risks. Even if you identify an inherent risk as high, other project factors will come into play as well. For instance, the checklist below states that a large project is inherently more risky that a smaller project. This is generally true. However, an experienced project manager can mitigate many risks associated with large project size. Also remember, if your project falls into a high-risk category, it does not mean you will not be successful. It only means that you should put plans into place to manage the risks. …

Inherent Risk FactorsRead More »

PMP Hints, Project Management

Estimating Techniques

Estimate in Phases

One of the most difficult aspects of estimating projects is that you do not know exactly what work will be needed in the distant future. It can be difficult to define and estimate work that will be done three months from now. It’s harder to estimate six months in the future. Nine months is even harder. The reason is that decisions made and deliverables produced earlier in the project have an impact on what the work looks like further along. Therefore, there is more and more estimating uncertainty associated with work that is farther and farther out in the future. …

Estimating TechniquesRead More »

Construction Law, Contract Administration, Project Management, Statutory Adjudication

Importance of contractor progress payment terms

It has been said that an army marches on its stomach. Contractors and subcontractors in the construction industry run on cash. Lord Denning many years ago made the oft repeated phrase that cash flow is the lifeblood of the construction industry and this sentiment is still relevant today. Estimators when preparing tenders usually concentrate on building profits into the price. Of equal importance is the amount of working capital required to fund the contract and the need to keep the amount to a minimum. The payment terms are therefore crucial to every contractor and subcontractor. Certification and payment should be the subject of careful strategy and planning. …

Importance of contractor progress payment termsRead More »

Contract Administration, Project Management

Project finance: how to secure it

By Martin Preston
THE majority of the features of a project finance loan agreement are the same as a corporate loan agreement. However, because the basis on which the lenders are advancing the loan is the forecast revenues of the project, rather than the assets or creditworthiness of the sponsors, the risks taken by the lenders and, therefore, the controls that they require under the loan agreement, are greater than would be required under a corporate loan agreement. Inevitably, some of these additional controls impact on the construction contract.

…

Project finance: how to secure itRead More »

Construction Industry, Project Management

Safety first

1 Comment

by Sarah Blackman

zoomNets can be used to eliminate fall hazards but personal protective equipment should also be used when working at height.next »In order to prevent injuries or fatalities at work, companies should go out of their way to reduce hazards wherever possible. Where there is the slightest risk that someone could get hurt, personal protective equipment should always be used, as experts tell Facilities Management Middle East. …

Safety firstRead More »

PMP Hints, Project Management

Create Cost Management Plan

The Cost Management Plan describes the process that will be used to manage the project budget including tracking current expenditures, upcoming expenses, identifying potential budget overruns and evaluating overall project spending against the budget. The components of the Cost Management Plan can include:

…

Create Cost Management PlanRead More »