Tell me more

In the early days of project management, project managers made up Gantt charts for their projects. These Gantt charts could be quite large when projects contained over one hundred activities. It was not practical for the project manager to duplicate the Gantt chart for her manager, and if the supervisor of the project managers had several project managers, it was not practical to display all of the projects' Gantt charts unless there was quite a lot of wall space. The milestone chart was...

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...