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Real World Project Management: Estimating Your Project Costs

Apr 29, 2005

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Cost and the Project Manager

Project managers are in a tough spot: They're the liaison between the customer and the project team that will complete the customer's project. In most organizations, it's generally easier to get more time than money, and there's usually more concern about how much than how long.

Project managers and their stakeholders need to go into any project with a common goal: Identify an affordable scope and a plan of how to achieve it. Too often, and maybe because of the subject matter itself, cost is ignored in project planning. For projects to be successful, someone has to foot the bill, and until the estimate is requested or provided, it's not a mystery—just a constant dread.

Cost management really is like a Lyle Lovett song: It can be painfully sad, honest, and focused on M-O-N-E-Y, without ever really saying that word.

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