PM Tip of the Day – 23.07.2013
Remember, to estimate well, you need to complete the project charter and the project scope statement, identify the team and complete a WBS. Have you done this for your current project? If not, how can your estimates be realistic?
by Rita Mulcahy
Bucharest, 22th of July, 2013
Infinity Business Solutions has recently signed a strategic partnership with Nomitech, a leading European software company for providing cost estimating software systems. The partnership aims to complete the range of solutions, products and services offered by Infinity Business Solutions with a cost estimating software sistem – CostOS Estimating, developed on the international market by Nomitech Company.
Thus, in addition to the project management software solutions (Primavera P6 EPPM, Microsoft Project) and the professional risk management solutions (Primavera Risk Analysis and RiskALERT), Infinity Business Solutions will also provide an internationally recognized solution for cost estimating.
CostOS Estimating Software
After carefully exploring the modern estimating needs and incorporating the experience of major European companies in the technical field, Nomitech created CostOS. The system is based on the fundamental theory of cost estimating and thus it can be easily used in various industry types such as Construction, Oil and Gas, Energy and others.
The Graphical User Interface
While working with the CostOS graphical interface you will discover how to reuse older estimates to prepare new ones. At the same time you will find ways to optimize the direct cost by trying different cost scenarios.
The Core of Cost Estimating
There are many times when cost estimators waste valuable time by searching on old cost spreadsheets or papers in order to find cost data. This fact is the reason why the Cost Database of CostOS is regarded as a very valuable tool that accelerates Cost Estimating to a great extend. In addition CostOS is integrated with Online Databases (Knowledge Bases) that are provided on a subscription basis.
Connecting with other Software
All the cost data that you have collected until now can be easily imported in CostOS thanks to its co-operation with Microsoft Excel. You can easily import and export primary cost data in the database from Microsoft Excel. In addition you can massively import the Bill of Quantity Items from Excel.
CostOS also allows you to export your estimate into Microsoft Project and synchronize all of your resources with Primavera P6 in order to easily prepare the schedule of your tender.
The software reports can be exported to PDF files or Microsoft Word or Excel files, password protected or not.
Real-Time Synchronization with Oracle Primavera P6
CostOS enables you to keep your project estimate in line with the schedule. Whichever way you prefer working it is now feasible with CostOS. You can Work in parallel in CostOS and in Primavera P6. Changes you make on WBSs, descriptions, durations, resources etc are automatically picked up by the synchronization module.
“Cost OS is a highly specialized and innovative cost estimation solution for dynamic and rapidly-growing businesses. It is a flexible alternative to the old-fashioned estimation indexes provided for in the Romanian normative that are still used almost obsessively in spite of their technological depreciation.” Says Dan Precupescu, Executive Manager, Infinity Business Solutions.
“I am really delighted the Infinity Business Solutions, will be undertaking our estimating solution CostOS into the Romanian market. I strongly believe that CostOS will suit really well the customers of Infinity who want to improve their estimating competences, win more work and iIntegrate estimating and tendering with their project management processes and the best of breed solutions that Infinity offers today. Our aim is to make Nomitech CostOS, together with Infinity, a standard tool for Cost Estimating from the concept phase all the way through the detailed estimate phase of projects, in Romania” Says Tolis Chatzisymeon, CEO, Nomitech.
Infinity Bunsiness Solutions was the first project management company in Romania which incorporated in their methodology professional risk management programs. Our partnerships with Microsoft and Oracle demonstrates Infinity Business Solution’s ability to leverage Microsoft Project and Primavera software to develop, promote, and implement robust enterprise project portfolio management (EPPM) solutions for our customers.
Ana-Maria Geamăn,
Marketing Specialist
PM Tip of the Day – 22.07.2013
‘When defining the project scope, remember to specifically note what is NOT included in the project.’
by Rita Mulcahy
PM Tip of the Day – 18.07.2013
If it is in the contract, it must be done unless both sides agree and change is issued. Make sure you understand the contracts on your project!
by Rita Mulcahy
When did we actually start using project management basic principles?
Even though the main PM Bodies – IPMA, PMI and guidelines such as PMBoK and PRINCE were developed in the late 20th century, project management principles existed and were used though not under an consolidated format.
All the major construction works starting of with the pyramids had ‘embedded’ project management – high level split of work a.k.a WBS, division of the levels of work to manageable size item a.k.a Activities, sequence set for all the activities a.k.a Dependencies, resources allocated – labour force, materials and a set of equipments etc.
Project Management is a part of everything we do on a day to day basis, it up to us to tailor the guidelines and to create the fit for purpose methodology for our projects, alongside with the proper tools, techniques and software systems.
PM Tip of the Day – 17.07.2013
If you feel you are spending too much time dealing with problems rather than preventing them, simply have a look-ahead meeting with the team to anticipate the future and have everyone refocus on preventing problems.
by Rita Mulcahy
History of the Gantt Chart
The first graph that depicted sequenced activities displayed over time was developed by Karol Adamiecki (1866 – 1933) in 1896 and it has called an harmonogram.
The graph as we all know it today was attributed to Henry Gantt (1861–1919) an American engineer , who developed it between the 1910 -1915. The famous bar chart was used during World War I.
During the 80’s specialised software tools integrated the possibility of building Gantt charts.
Nowadays there are numerous project management software tools (Primavera, Microsoft Project etc.) that can assist the planning process by creating Gantt Charts showing all possible type of activities, ie. Summary, Milestone, Task Dependent / Normal.
What is your favourite PM tool for creating Gantt Charts?
PM Tip of the Day – 16.07.2013
Remember to ask your suppliers and consultants what changes are going on in their companies. This helps you anticipate project problems caused by those entities.
by Rita Mulcahy
Starting today – 15.07.2013 through our website
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PM Tip of the Day – 15.07.2013
by Rita Mulcahy
Wednesday, May 22, 2013, took place the seminar “Risk management – proactivity for profitable projects” organized by Infinity Business Solutions. The event addressed risk management experts and those who intend to specialize in this area and is part of a series of seminars in the various areas of project management discipline.
The seminar series was started by Infinity Business Solutions’s initiative to promote internationally recognized best practices and project management software in the Romanian economic environment.
The seminar was attended by over 70 people, among whom were OMV Petrom, Rompetrol, Romgaz, Transgaz Romelectro, ISPE, Siemens Energy, Kremsmueller, Bog’Art, and Techno Engineering representatives.
In the first part of the conference, Dan Precupescu, IBS Executive Manager, discussed the general concepts of risk management with a focus on identifying and assessing risks, existing probabilistic methods, monitoring and control. At the end of the presentation participants shared their experience in identifying and assessing risks.
Subsequently, Tiberiu Vulpes, General Manager at Infinity, proposed participants an interactive workshop during which each company representatives had the mission to make a three-point estimate of project activities and identify and assess the risks which may occur in the same project and existing solutions to mitigate these risks. Based on data obtained, Infinity specialists determined the contingency budget using Primavera Risk Analysis.
In the second part, Adrian Predoi, Technical Manager at Infinity, discussed in detail the most complex risk management software solution – Primavera Risk Analysis. He presented the impact of risks on cash flow for risk investment projects, making an objective determination of reserve of time and money with the help of Primavera Risk Analysis.
Finally, Ovidiu Bradin, Head of Project Services at OMV Petrom E&P, presented participants – Risk management of large capital projects, providing information on threats and opportunities they have encountered in the presented projects. One example was the case study on one of the most publicized accidents that marked the 80’s, the Challenger shuttle disaster.
After evaluating the event, the feedback was positive, the interest was quoted at maximum and the debated topics were assessed as being of great use for those present.
“Success in project development and risk management is a current topic of interest, intensely debated. The seminar organized by Infinity Business Solutions, as an intensive and interactive workshop allowed clarifying specific problems regarding managing the threats and opportunities of a project and provided a valuable opportunity to exchange experiences between participants. We want to thank the Infinity team for the great event planning and wish them success in achieving the objective of developing an organizational culture on the subject!”, said Simona Dumitrescu, project manager of Transelectrica SA.
Seminar series continues, another event of this kind, but of greater scale, will take place this autumn. Stay tuned for details about the event.
Ana-Maria Geamăn,
Marketing Specialist
