When you are working on a project, budget and resources are two huge considerations. You must be able to estimate and allocate these properly in order to successfully complete the project.
Luckily for you, I have found two really great tools that can help you with this process.
The first is an Activity Cost Estimates Template. This template will help walk you step by step through the process of properly estimating the cost of completing an activity. There are many templates available for free on the Internet. Taking advantage of a template will help you as a Project Manager make sure to take into account many different areas. The templates can be edited and adjusted to meet your specific need, however, they are often a very good starting point for many PM's.
The second tool is a Project Management Breakdown Structure. This site can be utilized in many ways to help organize the project planning process. By breaking down the project into its most simple parts, it is easier for a Project Manager to estimate costs and identify resources that will be needed. Many projects can seem overwhelming at first. This site serves a good guide to organizing all of the information for the project. It also hosts several really informative external links and a wide variety of suggestions and implementation strategies.
As you continue through your journey of Project Management, its important to remember that it will not always be an easy road. Sometimes you may encounter obstacles or something you were not anticipating. It is during these times that is important you are able to adapt and keep moving forward. A good plan is essential, however, the ability to modify the plan and to adjust accordingly will be vital for your projects survival.
Ms. Benack,
ReplyDeleteI found your resources to be very helpful. I have never worked with online templates to manage a budget. I have realized that it is very helpful with business budgets but also personal budgets. I wish I would used tools like these when I was planning my wedding. Project schedules support the estimates in allocating resources. One of the most important points made in this weeks resources mentions that time constraints can be reduced when you are able to manipulate the tasks among the team members that can multitask one than more activity.
Portny, E., Mantel,J., Meredith, R., Shafer, M., Sutton M., & Kramer, E. (2008). Project management: Planning, scheduling, and controlling projects. Hoboken, NJ: John Wiley & Sons, Inc