Library
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PM Network
Reality Check
Massive infrastructure projects frequently gain attention not only for their architectural or technical features but also for their incredible cost overruns. Accurately estimating the costs of…
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Project Management Journal
Determining Contingencies in the Management of Construction Projects
This research describes the managerial approaches that contractors follow to determine different types of contingencies in construction project management. Two large Spanish general contractors were…
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Project Management Journal
Public-Private Partnerships
Public-private partnerships (PPPs) have been subjected to considerable public debate. In particular, this debate has concerned PPP financing and its implications. Using insights from agency theory,…
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PM Network
The Science of Uncertainty
Project estimates can sometimes take on a life of their own. The budget for the new international arrivals facility being built at Seattle-Tacoma International Airport in Seattle, Washington, USA…
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Project Management Journal
Improving Project Budget Estimation Accuracy and Precision by Analyzing Reserves for Both Identified and Unidentified Risks
Project risk is a critical factor in estimating project budget. Previous studies on this topic have only addressed estimation methods that consider project budget reserves against identified risks.…
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PM Network
High Expectations
Skyscrapers are skyrocketing--in frequency and size. But project teams will have to navigate cost challenges to keep up with demand.
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PM Network
Sky-High Mandate
Dubai soon won't just be a city pushing buildings to new heights—it'll also be a place where project teams have to go 3D to reduce labor and materials costs. The government announced it intends for…
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Project Management Journal
Cash Flow Management of Construction Projects in Saudi Arabia
Cash flow management entails forecasting, monitoring, and controlling practices of the cash inflow and outflow and arrangement of deficits over a project's duration. This article reveals, through a…
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PM Network
Runaway Rail
The budget for a troubled rail project in Honolulu, Hawaii, USA has gone off the rails. The estimated budget hit US$8.3 billion in July, a more than 55 percent jump over the initial US$5.3 billion…
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PM Network
Snap Precision
If you've worked on agile projects, you've likely heard an agile champion make bizarre statements about estimating a budget and schedule. When you press further for estimates, you might get an even…
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