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Many project schedules are driven by unrealistic mandated completion dates. This has something to do with the psychology of people outside the project. Some stakeholders require projects to be done by mandated completion dates that have little to do with when the project is actually needed. The reason for this is that many of these stakeholders have had disappointingly bad experiences with project managers who did not adhere to schedules. These people request that projects be done as soon as...

What is the fundamental accounting equation

Project managers and project management methods are becoming more widely known, and project management successes are becoming more frequent. For this reason project managers are being given more responsibility in the businesses they work in. It has become more important that project managers treat their projects like small businesses and that they be responsible for more of the functions that were traditionally managed by others. This is because project managers are seen as being successful in...

What are the financial measures Ros Roa and EVA

There are several measures that are useful in measuring the health of a company. These measures are also useful in measuring the health of a project. The trend in project management is to have the project manager take on more and more responsibility for the projects she is managing. Project managers in the future will be more concerned with their projects from the standpoint of managing them as small businesses. It is therefore useful for them to have some financial knowledge. Return on sales...

What is a work breakdown structure WBS

Once we have identified all of the things that we are supposed to produce in the project, it is necessary to develop the specific items of work that must be done to complete all ofthe work. The work breakdown structure takes the project and divides it into smaller pieces. These can be called subprojects. The subprojects can be broken down into smaller pieces. This process of breaking down the project can continue until the project is broken into small, more manageable pieces. The work breakdown...