What is a Project Management Information System (PMIS)?

Posted 28 December 2011 / No comments

Project Management Information Systems (PMIS) The PMIS is a tool that can help the project team to plan, schedule, monitor and report on a project. A PMIS is typically a computer-driven system (though it can be paper-based) to aid a project manager in the development of the project. A PMIS is a tool for, not

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What is Project Management Methodology?

Posted 20 December 2011 / No comments

Project Management Methodology Explained A project plan methodology is a structured approach to developing the project plan. Methodologies can be simple or complex and based on the project type, the requirements of the performing organisation, or multiple inputs. Organisations can use hard or soft tools to lead the project plan methodology. In its choice of

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How to Calculate the Project Payback Period

Posted 13 December 2011 / No comments

Calculating the Project Payback Period How long does it take the project to pay back the costs of the project? For example, the XYZ Project will cost the organisation $500,000 to create over five years.  The expected cash inflow (income) on the project deliverable, however, is $40,000 per quarter. From here it’s simple math: 500,000

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Tools and Techniques for Selecting a Project

Posted 6 December 2011 / No comments

Here are Some Preferred Tips  on How to Select a Project *This information is taken from the Certificate IV in Project Management course delivered online via LMIT 1. Project Selection Methods Project selection methods are used to determine which project the organisation will select. These methods generally fall into one of two broad categories: Benefit

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LMIT is Now Endorsed by the AIPM

Posted 1 December 2011 / No comments

LMIT’s Diploma of Project Management has been endorsed by Australian Institute of Project Management. What does this mean for you? By completing the  Diploma in Project Management online, with LMIT you’ll also get a certificate from AIPM and will acknowledges you for your skills and abilities. AIPM Professional Development Become an accredited Certified Project Professional. Be

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