Time booking is probably the most common abuse of project financials. It goes like this. Whether we have resources working on projects (and this is the case for 100% of projects) the key principle is that they do book time spend on executing it. To measure the real Read more…
I recently participated in a forum discussion like this. Question: ‘What is the best estimation method for Agile?’ Many answers: ‘I prefer not to estimate. If I only can avoid it!’ While the question itself is a typical education request from a less experienced person, the answers Read more…
Companies that deliver fixed-scope projects and custom services can count on higher profits from those services. More custom services or project is more presale cost is spent to close the order and start delivery and billing. Every company offering projects needs presale. Even staff augmentation services need some Read more…
As with any business owners of the company delivering projects have to define what is the value of their business model at least at the beginning. As they grow the value can come from many elements of their business, like Market position and customer references, Industry knowledge and Read more…
If You are a company living out of professional services business and specifically on delivering projects to your customers, this is exactly what we will be talking about. It does not mean the rules do not apply to other business models and industries. Oh Yes, they do apply, Read more…
This needs no explanation, I guess. But there are some nuances worth discussing. Each scope-oriented project, is this Fixed Fee or Time and Material regardless, needs to manage risk. The primary tool for managing risks is review sessions and corresponding mitigation strategies. This is the end all be Read more…
The road from estimating work for the scope to approved and presentable price is a long one. A company living on delivering projects does this thousand of times and masters the process to get it efficient as it can be. But often there are some risky moments, which Read more…
Recently I came across a question for some help from a project manager over a PMI discussion forum about a request he has from his management. The question was: How can I prepare the detailed “what if” versions of the project financial plan, specifically the final project gross Read more…
We all know that if we make mistake in calculating the effort and the margin of the services offer there is a COST associated with this. This is no surprise. But do we really realize what is a real cost for the organization? Let’s find out. If we Read more…
We’re moving quickly, and we are happy to share about new pricell.io release due NOW – SEP 2020! We have added many new features and improvements. Some highlights are below: On the fly Task Milestone cost and workload simulation for better project planning Better visibility of Calculation Summary Read more…