It's been a while since I last spent time on this blog, as might be evident from the lack of updates. This is not due to lack of interest in general or to being subject of internet deprivation.
Instead it was caused by a change in career, and the lack of activity on this blog coincides eerily with the date of my first workday. As I have now just finished my first year of employment, I thought it was time to dust of the blog again. I plan to use this blog for its original purpose again: As a way for me to organize my thoughts on any given subject of interest within project controlling. Oh, and possibly for someone else to read my meandering thoughts on the subject, picking over it to find anything of use.
In the resurrection of this blog, I will strive to continue with the same general idea, as was outlined in my, highly aspiring, mission statement:
"With this blog, I shall aim to approach financial and project controlling from a
practical point of view. Each entry will aim to be based on a situation taken directly
from my own professional experience, or make heavy use of the same. In cases
where this is not possible, the focus of the discussion shall always be a practical
implication."
practical point of view. Each entry will aim to be based on a situation taken directly
from my own professional experience, or make heavy use of the same. In cases
where this is not possible, the focus of the discussion shall always be a practical
implication."
I shall try to keep this initial post short and to the point, but I will once again be focussing on subject I have broached within my work experience.
For my next post I will be looking at contingencies within a project. In my work experience, I have found them be one of the most misunderstood components of a project budget, and one of the most oft abused as well.
If time and space permits it I will cover both general theory, practical applications (and implications) and the pitfalls. I will also try and discuss some of the misunderstandings and what you, as a Controller, should take particular care to avoid, when it comes to contingencies.