team, puzzle, star, bubbles, conversation, chessThis article is part of a series on the PMBOK areas of knowledge. You can read the previous articles here:

The last area of knowledge of the PMBOK (Project Management Book of Knowledge) covers the best practices to manage the relationship with stakeholders.

Specifically, this area of knowledge focuses on identifying people, groups or organizations that may affect or may be affected by the project and analyze their expectations and its impact on the plan.

Manage project stakeholders in a collaborative environment

It is essential to keep in mind that clients too are stakeholders, as their satisfaction is crucial to the success of a project. This means that projects could re-start from 0 if the client’ expectations are not taken into account early enough.
This problem was so frequent in software development that led to the development of agile methodologies, which seek a fluid communication with customers.


Advice for Stakeholders Management


1. Identify the parties or public interested in the project

In this phase of project management, it is important to focus on identifying the stakeholder from the very beginning, since this will allow us to obtain an overview of the stakeholders map and the problems that some actors may pose at a later moment.

2. Make sure that all interested parties agree and know their roles or responsibilities

Before starting the development of a project, it is essential that all the actors involved know the rules and assume the commitment and responsibility expected of their functions. From the beginning, we will identify team leaders, work teams, and their roles.
Good pre-planning facilitates a smooth development and helps to avoid conflicts in the future. If everyone agrees with the requirements and objectives, he or she will work to keep pace with the events and avoid delays; delays that only will be translated into extra costs and unwanted results.
On the other hand, rules must also ensure fluid communication with customers, so that they have sufficient information to evaluate the project development and express their point of view. If necessary, the circumstances under which a client’s opinions may involve changes in the project can be agreed upon.

3. Get consensus on the application of changes to the project

Changes in a project are inevitable since contingencies always arise that require the modification of some criteria or change in scope. The more complex a plan is, the more susceptible it is of being changed during its development. Therefore, it is important that all participants agree on how to handle the changes.

4. Favor communication

Establishing communication guidelines at the beginning of the project will improve the flow of the same. The team will be able to determine, since the beginning, the frequency of the communication and its content, that should preferably be concise and focused on the progress or issues that affect the project.

5. Give permanent visibility to the project teams

Transparency is a fundamental virtue in all project communication. It does not make sense for a project manager to have secrets.

It is important to define and communicate the vision of the project early on, as teams become more involved and the risk of losing focus on the project is mitigated. This way you make sure that any decision is coherent with the vision and objectives of the project. This point is very important because it helps reduce risks, errors or loss of focus.

6. Involve interested parties in the entire process

Although we assigned functions and teams from the very beginning, interested parties (stakeholders) should be always involved, so that they can participate in the problem solving or the revision of the requirements.

7. Reach an agreement with what has been done

In order to avoid entering a circle of changes and stagnation that could jeopardize the development of the project, it is important to reach agreements on the work done.
In an organization that manages strategic projects and internal transformation, Stakeholders Management goes beyond the project closure, since its delivery enables capacities that could benefit other levels of the organization. Otherwise, the value delivered is not internalized and won’t become a competitive advantage sustainable over time. This approach has been called Benefits Realization Management (BRM) or Benefit Management.

8. Empathize with the other interested parties

All project participants are stakeholders, but the stakeholder map also includes parties that do not actively participate in the development of the project. You should take them into account and empathize with them as the capacity for empathy is a crucial skill for the success or failure of a project.
The analysis of a project should not be limited to the interests and influence of stakeholders but should include how to identify their objectives, circumstances and the way they perceive the project.
Empathic analysis helps us to discover hidden variables that show us the way to solve problems or overcome obstacles that we may encounter.

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business analysis and planning, consulting, team work, project management and development. concepts web banner and printed materials.The 7th area of knowledge of the Project Management Book of Knowledge (PMBOK) is focused on project communications management. This proposal is addressed to the creation, compilation, distribution, storage, recovery, and final disposition of all the information for it to be accurate and appropriate.

As in any other area, the information follows the communication management 5W and the project manager should take them into account if they want to succeed.


Our starting point are the communications which, sometimes, are even more important than the technical project itself because they allow information to flow normally without misunderstandings or confusions within the project management.

Project communication management is divided into three main parts:

  • Communications management plan
  • Use of communications
  • Control of communications

Communicate with your entire project team with a collaborative tool. Try ITM Platform for free.

1. Project communications plan

The right project communication, both with the members involved and with the interested stakeholders, is crucial for the plan to be carried out successful. Many projects don’t catch on due to poor communications. Therefore, heavy focus must be on the initial strategy that will lead to the achievement of the goals.

The PMBOK guide states that we have to identify basic or standard needs: progress updates and newsletters to investors among others. The contents of these communications must have been planned in advanced and this planning is captured in the strategy itself in two different sections: exit and entry.

The entry or internal communications section includes:

  • Project management plan
  • Record of the interested people
  • Enviromental factors of the enterpirse
  • Assets of the organizational processes.

In order to do that, as in the two following points, the tools and techniques used are linked with information technology, communication models, methods and meetings.

The exit or external communications section includes:

  • Management plan
  • Project documents with their corresponding updates

It cannot be ignored that project planning deliverables are communication tools and that project managers are communicators who collect, unify and distribute information so that the team can act in a coordinated way. The documents are valuable, but they do not speak for themselves.

2. Management of project communications

During the project execution stage, the management of the communication is crucial. The communications with the agents involved or part of the involved target groups must be identified in the communications management plan.

For example, if the project was about developing a programme for the urbanisation of an area, the agents involved or affected by the project could be the owners of the land and the administrations, even though the consumer is the final buyer of the house. If we don’t correctly manage the communication with the agents involved who are not participating actively on the project development, we may receive negative opinions that might complicate or even stop the development of the plan.

We must ensure everything and not facilitate random communications. The creation, distribution and storage of communications is an important process within project management and it requires the full attention of its manager.

3. Project communications control

Considering that communication plays an essential role in the development of our project, having strong and strict control is a mandatory task that provides security and confidence. In order to do so, it is very important to analyse the given results and to make reports from these.

The project manager must be part of the Control and Monitoring team to know, which is the state of each stage, task or activity with the objective of supervising its functioning and to check that it achieves the set goals. In addition, the manager or person in charge of the plan oversees quality control, scope and other control elements and he/she must also ensure that each actor receives appropriate communication and assesses possible changes to improve processes.

The area referred to the entries includes, apart from the ones mentioned before, the registry issuance. The tools and techniques are based on the information management system, the judgement or criteria of an expert and the meetings.

In the exit section, we should include:

  • Information about the performance at work
  • Change requests
  • Plan updates
  • The documentation that refers to the organizational aspects of the assets that intervene in the processes

This article belongs to a series on the 10 areas of knowledge of PMBOK. Take a look at the articles already published:

The 10 areas of knowledge. 1: Project integration management

Integration with the ITM Platform Project Menu

The 10 areas of knowledge. 2: Project scope management

The 10 areas of knowledge. 3: Project Time Management

The 10 areas of knowledge. 4: Project Cost Management

Managing Project Quality: Insurance case study

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project manager showing a report to his team, graphs and diagramsIn the set of good practices in the Project Management Book of Knowledge (PMBOK), the sixth area of ​​knowledge refers to human resources management within a project.

It is fundamental to perform human resource management of the organization to the highest standard. Good management will allow you to create high performance teams in each phase of the project. In this way, the maximum productivity of any company will be achieved: the efficiency of the available resources to achieve the proposed objectives.

In the field of projects, teams are created over a given period to collaborate intensively in the production of given objective. Due to the brevity of project teams, it is fundamental to master the processes to be able to manage resources, according to the following obligations:

  • Correctly estimate the amount of human resources needed, based on task estimates
  • Selecting staff with the right skills
  • Plan the costs derived from the allocation of these resources
  • Ensure that resources have sufficient time to devote to the project
  • Control the time deviations to avoid any delays that can lead to non-expendable costs

Plan the allocation of your resources to all your projects with ITM Platform

Next, we review the steps for project resource planning.

1. Estimating resources

In estimating your resources, firstly a forecast of internal and external resources is made that will be needed for the management of the project. It is necessary to contemplate the active estimation for each task, activity and phase of development, so that the deployment is carried out efficiently.

Among the most common techniques for estimating resources is the consultation of experts, that is, based on the experience that has been acquired in previous projects. Data and results achieved in the past will help improve the accuracy of the current project.

2. Data collection

It is this phase in which the available resources for subsequent management are detailed, and usually includes information regarding:

  • Available resources.
  • Resource demand.
  • In what way the available resources will be able to satisfy the demand raised.

3. Resource Plan

In project management, a plan should be prepared that addresses the different aspects, from the needs of the demand, the assignment of roles and responsibilities, and the desired results.

As head of the project you can create a list sorted by hierarchies in which the resources necessary for the execution and management of the project are displayed so as to be able to divide, delegate and assign responsibilities and functions.

Learn how to plan your resources here with ITM Platform

4. Development planning

All the information gathered in the initial phase will lay the foundations for further development planning. In this phase a schedule is created which indicates the establishment of the starting point and completion of all tasks, activities or works that will be developed in the project. This will create a final schedule, which will also include time management, which happens to be the third area of ​​knowledge of the PMBOK referred to in the Guide.

The resource plan prepared before the development phase provides information on the hierarchical breakdown of the available resources, which are related or matched with the list of resources necessary for the development of the project. This exercise improves the efficiency in resource allocation that is needed for each activity.

5. Resource verification

The project manager is responsible for the project, so make sure that the assignments made allow the creation of high-performance teams capable of executing each phase of the plan correctly and efficiently. Taking into account remote workers, which is a typical occurence today.

In managing the human resources of a project, talent management is essential. Experience is a plus, and it is important to know the skills, competencies and abilities of all team members in the work group, which will improve the assignment of roles and responsibilities while achieving greater commitment and involvement.

In addition, as the project manager, director or coordinator, you must seek the balance between functionality and profitability. The allocation phase is fundamental, since if more resources are allocated than necessary, to a certain task or activity, it could implicate the financial resources of the company.

6. Negotiation of resources

Typically, companies use internal human resources to carry out smaller plans. At this point, the project manager must be able to negotiate if he wants to incorporate external resources into the project, for example in the case of a project where high specialization is required and the company has a more profitable to contract in place to create a team.

In any case, it is becoming more common for corporate human resources teams to focus on identifying talent within the same organization to improve the profitability of the activity and each new venture.

The management of project resources at a portfolio level

Project teams can never be managed in isolation, because members often spend their time among various projects. Therefore, it is imperative that someone in the organization has a centralized view on the use of all resources. In the case of conflicts, there must be criteria for deciding which project is allocated critical resources, so that the most important projects suffer the least delays possible.

Often, portfolio planning tools are used by a professional figure with greater authority than project managers, such as a PMO director, a project program director, or the portfolio director.

This article belongs to a series on the 10 areas of knowledge of PMBOK. Take a look at the articles already published:

The 10 areas of knowledge. 1: Project integration management

Integration with the ITM Platform Project Menu

The 10 areas of knowledge. 2: Project scope management

The 10 areas of knowledge. 3: Project Time Management

The 10 areas of knowledge. 4: Project Cost Management

Managing Project Quality: Insurance case study

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tools, light, idea of changeMost studies conclude: attempts to produce change in companies often lead to failure. According to a study conducted in 2013 by The Katzenbach Center, Price Waterhouse Coopers states that the success of change initiatives are only achieved in 54% of cases.

The mistakes in these attempts to manage change not only involves an economic and personal expense that does not produce any kind of benefit, but that set the precedent of a failed change. This creates a negative predisposition amongst the employees to adopt changes in the future.

Learn how to tackle project change with this e-book on PMO transformation.

However, change should be the backbone of business activity, as it is the only way to give effective responses to an increasingly volatile and unpredictable business world. Therefore, it should not be something that leaders decide to implement at a given moment when there is a crisis of their business model: it should be an attitude of constant improvement that is applied at all times in the development of the company.

However, change management policies continue to face difficulties when implementing them. Below are 5 reasons that may justify this failure.

1. Lack of anticipation of needs

One of the main characteristics that any leader should have is the ability to anticipate problems. The ideal problem is the one that you never have to solve and this is obtained by anticipating its appearance. Therefore, the change must anticipate the real needs. Market studies and socio-economic forecasts should guide the changes adopted by the company in order to adapt to the needs of customers even before they present them.

One way to perceive the needs of clients and employees early is to establish effective channels of communication. If these do not exist, the management of the company will only be aware of the real problems that arise in the daily work when the problem becomes too great. Establishing appropriate communication channels will allow customers and employees to express needs at the time they are presented, when the problem is still incipient, not when the problem has already manifested itself.

2. The strategy of change is not clear or does not occur at the appropriate speed

In order for the change to take place efficiently, it is necessary for the employees to perceive a purpose and a plan of action. If they do not exist or are not clearly explained, employees are likely to be reluctant to change, since they do not understand what meaning they have and are not aware of an appropriate action strategy.

Likewise, if one tries to adopt attitudes of change too quickly, these initiatives are most likely to fail, since employees will not be able to assimilate them properly. Therefore, the change must be fast enough to meet market needs, but slow enough to be efficiently enforced by employees.

3. Lack of alignment between the situation before the change, the actions undertaken and the needs of the market

When planning to introduce changes, it is advisable for leaders to gather all possible data on the state of the business and the market. This will allow the situation of the company to be understood before the application of change, to locate the most susceptible aspects of improvement and to plan the actions that will be undertaken in this respect. On the other hand, obtaining information must be carried out continuously throughout the change process, in order to detect the possible occurrence of risks and to plan the attitude to be taken before they arise.

In addition, it is important to consider that there are aspects of the company that are not included in the numbers. Some examples are employee satisfaction or degree of motivation. To be able to know this information, it is appropriate to promote a close communication between the leaders of the company and the employees to guarantee that enough confidence is generated to express the appearance of problems in the day to day activities.

A correct alignment between the situation of the company, the changes that are going to be introduced, the employees and the needs of the market will increase the chances of success of the change process.

4. Effective change is not led from above, but involves all

A change imposed from the top of the company is unlikely to be effective in the long run. For its establishment, it must be accepted and adopted by each of the employees.

For this reason, the greatest possible involvement of all leaders at all levels of the company, not just managers, is desirable.

In this way, the change will not be perceived as alien, but will be considered as its own and this motivation will facilitate its success.

5. The generation of a company culture guarantees continuity

Adopting a change-friendly business culture will make it easier for change to stay in place over time and for the company to be dynamic, making it easier to adopt new changes in the future.

The company culture is its personality, so if it is open to changes will facilitate that these are adopted in a consistent, simple and with guarantees of success.

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clipboard with rating stars and pen. quality control, customers reviews, service rating conceptsThe fifth area of ​​knowledge of PMI's PMBOK refers to all activities and processes related to responsibilities, policies and quality objectives. Quality is a key pillar in project management.

What does the quality of a project mean? Simply stated, the quality indicates that the result delivered by the project meets the defined expectations of the project.

According to the PMBOK itself, quality is:

"The degree to which a set of inherent characteristics meets the requirements."

Thus, quality management is the set of practices whose objective are to ensure the outcome of the project is sufficient to meet the goal or set objective.

Make sure you meet the quality of your ITM Platform projects

Unfortunately, this premise is often not met. It's very common to venture into large projects that do not meet the proposed needs. This can happen for multiple reasons, to which we can refer to as the three great enemies of quality.

  • The lack of communication between the sponsor and the team associated with the project is one of the most common ways of damaging project quality. There are times when the team appropriates the project from the collection of requirements, but the final delivery is not a suitable means to achieve the sponsors' goal. On the contrary, it may happen that the sponsor doesn't have a clear idea of ​​how to reach their goal, so they can not give exact instructions regarding the requirements
  • The intangible quality. Quality has a lot to do with perception, so the client will have a different notion than the project manager or the analyst who is responsible for realizing the most complex technical details. In order for this subjective character to not become an obstacle, it is desirable to arrive at clear agreements and commitments on what quality means in the expected result. In the case of agile methodologies, these agreements become the guiding principle of the project iterations, coagulated under the notion of user story: a discrete requirement, the minimum that can be delivered in a functional way.
  • Conformity with what is planned. Or, what is the same, to think that the requirements will become a round product and finished as soon as all the planned work is completed. If progress is not measured continuously, assessing the needs for additional integration between requirements, adding new tasks and proactively solving incidents, the result may not be of the expected quality, but will be, at best, a product on which a second phase of work must be added.

To understand the great enemies of quality better, we will look at an example. Let us imagine that the project in question is a document management system with copy versioning, requested by an insurance company. The reason for requesting the document management system is that commercial area managers need to have visibility on all the policy offers that have been made to their customers to find guidelines in the negotiations and to design new promotions and pricing policies.

What happens in this project when the three enemies of quality are involved?

  • Lack of communication: The commercial management communicates the product that has been imagined that will solve their problems. However, it does not explain its business need in detail, preventing alternative ideas from emerging that could better serve that outcome, such as a CRM module with supply chain analysis and aggregate information. The systems team is based on the requested features of the document management model, cutting some characteristics whose implementation would be too expensive.
  • The intangible quality: When the product is delivered, the technical team and the project manager are satisfied and estimate the quality of the result by 90%. The most ambitious features are lacking, but they may be added at a later stage. The document manager works, is better than before, and deadlines and budgets have been respected. When the commercial director announces the new system to his team, he finds that nobody knows how to use it how it was intended. Understanding the dynamics of negotiations and extracting data is a long and expensive process. Although you can manage your documents well and improve productivity a little, no new pricing policies will emerge.
  • Conformity with what is planned. Along the way, there are characteristics that could have saved the project, such as the connection with the payment and supplier management system, and an apparently minor technical problem has prevented the new document management system from highlighting the changes of the latest version With the previous ones, facilitating the work

What does it take to manage quality?

  • Constant outward communication. It is necessary to understand the reasons and motivations of sponsors and clients to internalize what are the best requirements that guarantee quality.
  • Negotiation and agreements to define the quality of results
  • Pro-active problem solving
  • Adoption of good practices. To help in this regard, we then review the good practices that, according to the PMBOK, should be followed by the project manager in collaboration with the team members to manage the quality of the project.

Phases of Project Quality Management

1. Quality planning

Quality planning is done in the first phase of the project. The quality plan can be an independent document, although it is better that it is part of the total project management plan we have prepared, it is a way of unifying the norms and criteria that govern the quality of our products or services. It establishes the rules, variables and factors that will govern the processes, tasks, activities and projects of the organization.

The quality plan of the project establishes the standards that will govern it. These standards may be standards of the company itself or also of the client, if for example it has an ISO of its own quality and sets its own minimum requirements. The contributions made by our client will allow us to establish the quality objectives of the plan itself.

The quality plan allows for establishing the deadlines and procedures of the quality controls in the project itself, so that it fits the marked requirements and the expected objectives.

2. Quality assurance

The quality assurance can be measured through an independent evaluation of the project processes. It is a question of supervising to verify that the plan is in accordance with the purpose we had set ourselves, and for this we must check that all tasks and activities meet the requirements set.

We advise you to appoint a project control team to assume quality assurance responsibilities. It is not only a question of measuring the final result, but also of controlling and supervising the different phases, tasks, activities and dependencies.

It is also important to make reports that improve the perspective, justify the changes and correct errors or point out improvements during project management.

3. Quality control

Quality control is similar to quality assurance. The difference between the two concepts is that the quality control is carried out by the team that works in that phase, process, task or activity. On the other hand, quality assurance is supervised by a group outside the group that works at that stage.

Quality audits are carried out on an ongoing basis in each project management process. In this way, the team ensures that the result meets the standards set in the initial quality plan.

These types of audits or controls can be carried out through inspections, reviews and tests. Thanks to the integration of quality control in a systematic way in the process, we have the margin and capacity of reaction, besides the possibility of correction in case of any failure or error. It is important that you make and update a record of the tests, a history that feels the basis of learning to avoid future mistakes in that project, or another one in your company.

4. Continuous Improvement

Quality controls and quality assurance are implemented from the quality plan. The goal is to correct errors and ensure that the result is in accordance with the target or end mark, and meets the set standards. It is desirable to involve all stakeholders in quality controls to be able to rectify and make deviations from the initial planning if satisfaction with progress is low. In projects, transparency is often the mother of quality.

The quality management of the project allows us to continuously improve, advance and grow our company. The project manager has to be documented in the initial phase on the quality management of other plans, which will allow him to improve efficiency and avoid repeating mistakes. Hence the importance of records of controls and quality assurances, as well as reports, since they not only allow to lead the current project, but also provide for and alert about future.

All the team involved can collaborate by providing ideas for continuous improvement. Shared satisfaction contributes to commitment and involvement. And all this has a positive impact on the company, its services, products and projects that you want to carry out. The initial phases in which the foundations and the organization are established are fundamental for the later development.

This article belongs to a series on the 10 areas of knowledge of PMBOK. Check out the previous articles in the series:

The 10 areas of knowledge. 1: Project integration management

Integration with the ITM Platform Project Menu

The 10 areas of knowledge. 2: Project scope management

The 10 areas of knowledge. 3: Project Time Management

The 10 areas of knowledge. 4: Project Cost Management

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financial calculations, budget planning, costs definition, dollars, clock, gameProject cost management is one of the most important sections of the Project Management Book of Knowledge (PMBOK) and seeks, from a theoretical and practical point of view, to determine and control the costs involved in the project execution. This is an important area of knowledge since no project can be considered without having set aside sufficient resources for its execution.

For this, time is an influential factor, since the cost estimation will in principle require a project working with timelines; that is, short-term goals are proposed for each phase.

Take reign of all the financial aspects of your projects with ITM Platform. Try it now for free.

It should be considered that if the total period for the delivery of a project is taken as an independent variable, there will be different risks associated with costs as a dependent variable. Namely: if you decide to carry out the project in the shortest possible time, you will be incurring the maximum cost, which requires impeccable coordination between all processes and a very high risk exposure in the appearance of deficiencies in coordination. If, on the other hand, the decision is made to extend the duration, the exposure to environmental risk increases: external circumstances are more likely to affect the initial budget.

How to estimate the costs of a project

The actions that revolve around this go beyond a mere quantitative estimate by a manager or project management team, since internal and external aspects that directly influence the achievement of the project must be carefully estimated.

Obviously, costs cannot be estimated without an exhaustive and accurate collection of requirements. The first reference of the project manager, therefore, is the Work Breakdown Structure (WBS).

  • Define the cost of each requirement. In many cases, these requirements will have a known cost and a trusted supplier; in other cases they will be more difficult to determine and should be roughly estimated;
  • Define the amount of work needed to complete all requirements and the cost per hour of each type of worker involved. This calculation serves as the baseline for the human cost of the project.
  • From the total of the two sums, the project manager must make the necessary adjustments related to the project inconsistencies and its plan, taking into account the duration of the project and how it affects the organization of the tasks. Estimation of costs. This implies the calculation of various circumstances and factors available and foreseeable during its lifetime, such as risks and price increases (in case of products involved), rents, materials, equipment, facilities, etc. For this, a "Reference Line" is created based on the time that they estimate the tools and economic resources that would be provided to each activity. This connects the aspects as mentioned above.

 The more narrow the scope, the more reliable the budget will be for the project. Of course, the project manager should not impose his estimates, but rely on a team of experts and experts in this field, who should evaluate the tasks that create the plan, and perform these assessments.

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From Utopia to Facts

The area of knowledge of the project costs is not exclusively financial, but requires techniques, specialized analysis and knowledge that allow to be aware of all the factors that can modify a project. These include execution schedules, the assessment of possible risks, coordination of meetings with stakeholders, which may need to address suggestions that affect the scope or mode of delivery, respect for the internal policies of a company, Attention to market conditions, experience in similar past projects, etc. Among the more strictly financial aspects are exchange control and fiscal aspects, which can be especially complex in international projects, inflation, and the corporate structure of financial control.

Also, turning information into knowledge requires tools that facilitate an approximation to the facts.

  • Units of measure: Depending on the object to be monitored, it will be estimated whether it can be measured with units of time (man hours, days, weeks, months), metric units (meters, centimeters, millimeters, tons, liters), and even in units of payment (monthly, fortnightly, single payment, etc.).
  • Accuracy: It varies according to the scope of the project, rounding figures around each aspect or phase that gives certainty of the costs that will be required for each one.
  • Cost limits: It is essential to determine this amount so that, in each cost review, there is a precondition
  • Cost limits: It is essential to determine this amount so that, in each cost review, there is in advance a conditioning of what is going to be required in each case. With this tool it is intended to keep the investment within the premeditated parameters and, if not, to take the corresponding corrective actions.
  • Measurement of the effort granted: These are performance indicators that are analyzed in the costs.
  • Management of information about cost management: Stakeholders should be fully and regularly informed of the management that is being carried out, either periodically (daily, weekly, fortnightly, monthly) and by providing reports Or any other ordinary means of communication.

Determination of the budget

Taking as a starting point the costs related to each activity, each of the estimates is added individually or jointly, to stabilize the reference line or cost, for the sole purpose of determining the budget of a project, Which will influence the funds allocated to it.

Costs control

It is necessary to monitor the consumption of costs in any situation of the project and to update them, if necessary, according to the cost baseline adjustment that was created. Any increase that is deemed relevant in project costs should be reviewed under an integrated perspective of the changes. However, its effectiveness lies in the management of the baseline, which maintains the cost performance and estimates the deviations occurred.

The aforementioned constructs the way towards an effective estimation of the costs of the project from the beginning. Successful budgeting is not as important as accurately picking up activity notifications. From the exhaustive control of deviations, it is possible to allocate the necessary resources to compensate for the unplanned under-coverage.

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