Cost and Schedule Variance

Project managers have traditionally always measured the actual project costs to their planned costs as documented in their project plans and budgets. There are a few possible variances a project manager could face. 1. Positive cost variance. This indicates that the project manager is well within spending and is under budget for project tasks or activities. For example, Task G had 6,000 planned against it, but only 4,800 was spent on this task. This indicates a positive variance of 1,200. 2....

Strategic Leadership

All companies require that the overall strategy be driven from the top of the company in order for projects to be successful. The organizational executive team usually provides the leadership for the overall business and IT strategy. Before any project is even considered, the executive team must assess and align the solution against the business and IT strategy, before committing any project resources to it. Companies can achieve this by formulating a strategy steering committee, which is...

Project Sponsor Responsibilities

The project sponsor, in taking on the role, accepts overall accountability to the organization for achieving the project goals. The project sponsor is, in reality, the boss. The sponsor is typically a senior person within the organization who has a high impact on the business, has the necessary experience relating to the project being undertaken, or has the organizational ability to make things happen. The sponsor could also hold the title of senior manager, director, CEO, or CIO. The sponsor...