Original Post Date: Tuesday, July 12, 2011

Check out this article from CIO magazine about managing your project budget.   The author, Jason Westland, suggests four things necessary to maintain control of your project budget.  While these are not earth shattering suggestions, sometimes project managers in the throes of a project can lose sight of their importance.  The strategies are:

* Continually forecast the budget
* Regularly forecast resource usage
* Keep the team informed
* Manage scope meticulously

Or to put it another way – respect and revisit the Project Management Triangle.  (To learn more about the Project Management Triangle go to this link  and look for the “Respect the Triangle: Scope, Time and Cost” paper)   Successful projects require constant vigilance around scope, people, dollars and the calendar.  The Triangle is an excellent tool for project leaders to use as a visual tool to facilitate negotiations with customers when things change in a project (and things will change!).  You can also check out my webinar on this topic.

How do you keep your projects in check?