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Article Complexity, Cost Management 1 December 2015

Project Management Journal

Developing a cost overrun predictive model for complex systems development projects

By Adoko, Moses T. | Mazzuchi, Thomas A. | Sarkani, Shahram While system complexity is on the rise across many product lines, the resources required to successfully design and implement complex systems remain constrained. Because financiers of complex…
Article Scheduling, Cost Management 1 December 2015

PM Network

Inventing alternatives

By Parsi, Novid From energy to water to transportation, the United States' aging infrastructure looks increasingly decrepit. With a significant funding shortfall projected for years to come, the pressure is on…
Article Cost Management 1 December 2015

Project Management Journal

Cost overruns in hydrocarbon megaprojects

By Olaniran, Olugbenga Jide | Love, Peter E. D. | Edwards, David | Olatunji, Oluwole Alfred | Matthews, Jane Cost overruns are prevalent in hydrocarbon (oil and gas) megaprojects. A recent report indicates that 64% of ongoing megaprojects globally are facing cost overruns. Despite their increasing…
Article Cost Management, Scope Management June 2015

PM Network

Over a barrel

By Fister Gale, Sarah Dropping crude oil prices have pushed oil exploration and drilling projects below the break-even point. The pressure is on project managers to deal with tightening budgets and project scopes and…
Article Quality Management, Cost Management, Information Technology 1 May 2015

PM Network

Reformat and reboot

By Hendershot, Steve The annual cost of failed U.S. government IT projects is estimated to be as high as US$20 billion. Why haven't well-funded government IT projects experienced success? Find out what measures are…
Article Scheduling, Estimating, Cost Management March 2015

PM Network

Imposed deadline syndrome

By Heerkens, Gary Contributing editor Gary Heerkens encourages practitioners to learn to generate bottom-up schedule and cost estimates that deliver realistic goals to senior management, responsibilities that seem to…
Article Risk Management, Cost Management October 2013

PM Network

Walk the tightrope

By Bertsche, Rachel Today's volatile economic climate has prompted a conservative financial mind-set for project managers in many sectors. The always-important task of controlling the budget has become a primary focus…
Article Cost Management October 2013

PM Network

Over the top

At one point or another, every project manager faces a budget overrun whether it's due to a change in scope, a design flaw or inadequate procurement. This article identifies the steps taken when a…
Article Scheduling, Cost Management, Technical Skills, Earned Value Management February 2013

Project Management Journal

A Bayesian approach to improve estimate at completion in earned value management

By Caron, Franco | Ruggeri, Fabrizio | Merli, Alessandro Forecasting represents a core project management process. Estimates at completion in terms of cost and schedule provide essential data and advice to the project team to lead and control the project…
Article Cost Management January 2013

PM Network

The sunk-cost dilemma

By Heerkens, Gary The sunk-cost dilemma means choosing between continuing a project that already has considerable sunk costs, or discontinuing the project altogether; sunk costs lie at the heart of one of the biggest…

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Developing a cost overrun predictive model for complex systems development projects

Inventing alternatives

Cost overruns in hydrocarbon megaprojects

Over a barrel

Reformat and reboot

Imposed deadline syndrome

Walk the tightrope

Over the top

A Bayesian approach to improve estimate at completion in earned value management

The sunk-cost dilemma