10/06/2024 Ziad Al-basir Annual Budget, Bidding & Tendering, Budget, PPMO, Project Cost Controls, Project Portfolio Management Office

Project Reporting: Avoiding the Pitfalls of Survivorship Bias

Project Reporting: Avoiding Survivorship Bias Project Reporting: Avoiding the Pitfalls of Survivorship Bias As the mid-year report review for your project’s approaches, consider the type of project reports you are reviewing. Do they include any Survivorship Bias understanding and reporting? 🤔 What is Survivorship Bias? Survivorship bias or survival bias is the logical error of concentrating on entities that passed a selection process while overlooking those that did not. This can lead to incorrect conclusions because of incomplete data. These […]

02/06/2024 Ziad Al-basir Budget, Business Development, Business Transformation, Cost Control, EPMO, EPPM, Main Pages, PMO, PPMO, Project Cost Controls, Project Portfolio Management Office, Resources Planning

Mastering Real Estate Development: Your EPMO Blueprint

Mastering Real Estate Development: Your EPMO Blueprint Mastering Real Estate Development: Your EPMO Blueprint Are your real estate development ambitions crumbling under the weight of chronic delays and budget overruns? Every missed deadline and overrun erodes profit margins and turns strategic goals into dust. Are you ready to take control and stop the risk of failure? — Is This Your Reality? 💔 Is this the legacy you want to leave as a business leader – a trail of stalled projects […]

31/05/2023 Ziad Al-basir Budget, Cost Control, Main Pages, Planning & Control

Techniques for Project Cost Overrun and Time Delays Recovery

Recovering from project cost overrun and time delays requires a proactive approach and the implementation of various techniques. By re-evaluating project scope, optimizing resources, re-sequencing schedules, mitigating risks, managing changes, optimizing vendor relationships, ensuring quality control, engaging stakeholders, capturing lessons learned, and conducting performance reviews, project teams can effectively recover from setbacks. In summary, the success of project recovery lies in a holistic approach that addresses multiple aspects of project management. By applying the most used techniques for project cost […]

07/05/2023 Ziad Al-basir Budget, Cost Control, Main Pages

Project Cost Estimate and Project Budget Estimate Explained

Cost estimate and budget estimate are critical aspects of project management that help organizations to plan, control, and monitor project expenses. In this eBook we explain the differences and the the processes involve to generate both in the project life cycle. Download your free copy here

13/04/2023 Ziad Al-basir Bidding & Tendering, Budget, Business Development, Business Transformation, Cost Control, Project Cost Controls

Change Orders: Where It Can Be a Gateway to Construction Fraud and Misconduct

Agenda Contents Introduction. 2 Understanding the scope of works. 2 The Fraud Scenarios in Change Orders. 3 Conclusion. 5 Introduction Fraud and misconduct in construction have become a pervasive problem globally, with up to $5 trillion expected to be lost to corruption by 2030. One of the areas where these illicit activities often occur is during the change order process, where individuals on the client side collude with contractors to engage in fraudulent practices. The aim of this article […]

25/01/2023 Ziad Al-basir Budget, Business Development, Business Transformation, Cost Control, EPMO, Main Pages, Planning & Control, PMO

Why We Fail to Deliver Projects on Time and Budget?

In 2013, global investment in energy, infrastructure, mining, and real-estate-related projects was estimated about $6 trillion. By 2030, that could be $13 trillion, according to McKinsey research published on 2017. The same research estimates that 98 percent of megaprojects suffer cost overruns of more than 30 percent; 77 percent are at least 40 percent late. Considering any megaproject budgeted billions of USD, the cost of the overrun is $300 million per one billion. In a sample business case, any effort […]

11/07/2018 Ziad Al-basir Annual Budget, Budget, Cost Control, EPMO, EPPM, Forecast, PMO, Project Cost Controls, Resources Planning, Shared Resources

How to Budget EPMO/EPPM – Part1?

Calculation of the annual forecasted cost for budgeting purposes for EPMO and EPPM is a challenge for many Project Based Organisations (PBO). I am not talking here about contracted defined projects which is easy to forecast. I am talking here about permanent staff, shared staff and non-project cost budgeting. We see this also in pre-construction stage where the development of the project studies and design are on progress. We see this mainly in the client’s side, developers, consultants, project management […]