Project Management Hub

Project management terminology and methodologies everyone should know.

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Project Management Hub

Project management terminology and methodologies everyone should know.

Project Management Hub

What Are Project Milestones? Examples + Free Template

Managers use project milestones as pit stops on their journey toward the project finish line. The entire team stops to check whether they’ve accomplished what they needed to up to that point and make up for what’s missing before moving on. Milestones are an especially useful tool when the team is taking on a large […]

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How to Manage Project Constraints (Examples and Expert Tips)

Every project faces constraints — the only difference from one to another is how limiting they are.  Usually, project managers are experts in delivering a successful project on time and within budget and scope, no matter how restraining the conditions are. Eager to hone your skills further? Learn how to recognize and tackle project constraints […]

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What Is Fast Tracking in Project Management? (+ Expert Tips)

If you’re at risk of missing your project deadline, there are techniques you can employ to speed things up and get your project back on track. They’re called schedule compression techniques, and they’re used to hasten project execution while keeping the project scope unchanged. The 2 most common schedule compression techniques in project management are: […]

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PRINCE2 Project Management Methodology: Explained

PRINCE2 is a popular project management (PM) methodology that originates from the UK.  Thanks to its generic and principle-based nature, PRINCE2 can be applied to projects of any size and complexity, regardless of industry or location.  Instead of prescribing how everything is done, PRINCE2 focuses on describing what needs to be done, following the overall […]

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What Is Schedule Variance (SV)? Formula and Examples

Schedule variance measures one of the most important elements of a project — time. The amount of time designated to certain tasks and milestones is an important benchmark for managers and stakeholders. To prevent a project from missing its deadlines, you can use schedule variance during project development to catch any activities behind schedule and […]

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What Is a Project Management Office (PMO)?

In the past, organizations questioned the value of the PMO, but the situation has changed — PMOs have become an integral part of many organizations. The latest project management statistics say that PMOs are on the rise as: And, PMOs are important for a reason — they drive success. Keep reading, as we’re going to […]

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What Are Project Resources? The Ultimate Guide

It’s difficult to create something from nothing. To have an output, you must also have a certain input. Project resources are, essentially, that input for a project. Whether it’s your project team, the computers they work on, the time they’ll spend on tasks, or even the pen they will use to write down ideas — […]

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What Is Cost Variance (CV)? Formula + Examples

Cost variance is a project management concept used to keep a project’s budgeted costs on track. As the budget is one of the most important elements of a project, project managers should calculate the cost variance throughout the project’s life cycle. Below, we will define cost variance, explore the importance of cost variance analysis in […]

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What Is Project Accounting?

Did you know that, according to the latest project management statistics, poor resource management is the third-ranked reason for project failure? To avoid going over budget or ending up with an unprofitable project on your hands, you should start taking your project accounting seriously.  With project accounting, you’ll get a clearer picture of where your […]

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