The Sunk Cost Fallacy is a decision that involves continuing to invest additional resources like people, time or money into a situation because of a desire to not waste the already used, unrecoverable resources. This is a costly mistake we all make with various types of decisions.
If there were a project management hall of fame, would you want to improve your winning streak? Here's how!
PRISM G2 Contracts is a complete contracts administration tool for owners, EPCs and construction management firms. PRISM G2 Contracts is a core requirement for many of ARES PRISM's clients around the world, including Abu Dhabi Airports (ADAC), Dubai Expo 2020, and many others. The module, has the capabilities to:
Alderon Iron Ore has been of our valued customers since 2013. This Canadian company has recently been working on the Kami Project, a mining opportunity situated in the Labrador Trough, Canada’s premier iron ore district. "With the recent completion of an updated Preliminary Economic Assessment and Economic Impact Assessment, Alderon is re-booting its Kami Project to take advantage of improved iron ore prices, reduced CAPEX requirements, and available infrastructure. With its access to skilled labour, quality infrastructure, and a high-grade deposit, Kami will deliver a quality product that is cost-effectively shipped to customers around the world." (Alderon Iron Ore, 2017)
You may or may not have heard of Service Oriented Architecture (SOA), but this approach is actually at the core of successfully integrating your various software systems.
A Service Oriented Architecture (SOA) is an architectural approach where you expose and encapsulate services in a coarse-grained manner. It helps to enable integration interaction between systems. To put it in more basic terms, it is different services communicating with one another.
Estimates are a necessary part of project management that simply cannot be avoided. Accurate and timely estimates can mean the difference between project success and failure. But beyond that, why should you invest in Estimating software?
Enterprise Resource Planning (ERP) software is often used to manage projects, however, it is questionable how effective these systems really are. ERP is a method of using computer technology to link various functions— such as accounting, inventory control, and human resources—across an entire company. We will be looking specifically at the advantages and disadvantes of the a single all-encompassing solution as opposed to multiple best-of-breed softwares integrated together.
Find yourself forgetting important Earned Value formulas and symbols? Use this handy cheat sheet to refresh your memory! Click here for a printable version.
In 2005, the Defense Contract Management Agency (DCMA) implemented a 14-Point Schedule to help identify potential issues within project schedules. These 14 points act as a means of evaluating schedules to ensure they are built to best practices.
Public-Private Partnerships (also known as P3s or PPPs) are gaining popularity as a way to fund massive infrastructure projects across the globe. The use of P3s makes it possible to invest in projects that would otherwise be neglected, ultimately creating economic opportunity and improved global infrastructure.