Engineering Project Scheduling Techniques
Scheduling is generally one of the critical variables to project success for engineers. In spite of this, most engineers don't understand the basics of project scheduling, except for remembering it from their college days. In this article I will document the two primary scheduling techniques available to the engineering project....
How to Write an Engineering Proposal
Engineering proposals are the industry standard document for which engineering consultant selection decisions are made. For engineering consulting firms, they are the primary method of securing new work. For the owners they are indispensible as a means to differentiate between consultants. But what are the major parts of an engineering....
The Phases of an Engineering Project
Engineering projects come in many shapes and sizes, but they can generally be broken down into the following phases. Planning / Preliminary Engineering. This is the stage at which the options are considered and the pros and cons evaluated. Most engineering projects involve the creation of a new product or....
How to Write a Project Management Plan
Kevin Payravi, Wikimedia Commons The Project Management Institute (PMI) reports that only 64% of projects meet their intended goals. The difference between a successful project and an unsuccessful one can usually be narrowed down to one word: Planning. Even small projects can benefit from a Project Management Plan. The following....
Net Present Value for Engineering Projects
The calculation of the net present value (NPV) is a budgeting technique that equates the discounted cash flows against the initial investment. The mathematical formula is: $$NPV = \sum_{t=1}^{n}\frac{FV_{t}}{(1 + k)^{t}} - I$$ Where: FV = Future cost of the cash inflows, I = Initial Investment k = Discount rate....
The 5 PMBOK Process Groups
Project Management, as defined by the Project Management Institute in the Project Management Body of Knowledge, is comprised of five 'process groups': Project Initiation Selection of the best project given resource limits Recognizing the benefits of the project Preparation of the documents to sanction the project Assigning of the project....
Project Management Critical Success Factors
Critical Success Factors, or CSF's, are the criteria that defines success. In project management, they are found in the project management plan and define what it means for the project to be successful. Time and Cost (deadlines and budgets) are almost always part of the CSF's, but most projects have....
What is a Project?
In order to understand the complex profession of project management, we must first define the word 'project.' A project is a temporary endeavor that: Has specific objectives to be completed within certain specifications Has defined start and end dates Has funding limits (if applicable) Consumes human and non-human resources (i.e.....
16 Points to Project Management Maturity
Taken from Project Management, A Systems Approach to Planning, Scheduling and Controlling by Dr. Harold Kerzner, PhD. Adopt a project management methodology and use it consistently. Implement a philosophy that drives the company toward project management maturity and communicate it to everyone. Commit to developing effective plans at the beginning....
Engineering Project Management
Engineers are not normally taught the principles of project management, although it is a critical function in their careers. Most engineers see themselves as technical experts, not project managers, but business is business and every engineer I know of seems to find themselves face to face with the realities of....