To Complete Performance Index
To Complete Performance Index – TCPI is a tool taht helps project manager to estimate the budget required for the project completion. It also calculates the efficiency required in remaining …
Project Life Cycle vs Product Life Cycle
To start with, there can be more than one project life cycles in one product life cycle. The project life cycle & the product life cycle are quite confusing terms …
Rough Order of Magnitude
As the name suggest – Rough means not with that much accuracy (-50% to +50% ) Project cost estimation starts prior to initiation as the Owners want to know that …
Expected Monetary Value
Expected Monetary Value Analysis (EMV) is a statistical technique in risk management used for the purpose of quantifying the risks. This technique helps in determining the overall contingency reserve required. …
Crashing & Fast Tracking
I have been involved in ‘Recovery Plan’ submissions. A recovery plan is the one where we do schedule compression without changing or extending the Project Finish Date. We use Crashing …
Lead & Lag
Lead and lag are the terms used to define a relationship between the tasks on a project. Both are scheduling terms used with relationships like Finish to Start, Start to …
Critical Chain Method in Project Management
The critical chain method is one of the key tools and techniques for developing a project schedule. To understand Critical Chain we have to look that how a project schedule …
Project Expeditor vs Project Coordinator
When I was doing my PMP preparations and I came to know these terms and to be honest these were really confusing for me. But later on, all was crystal …
Program Evaluation Review Technique
PERT – Program (Project) evaluation Review Technique is a project management tool & is a graphical representation of a project’s timeline. PERT charts were introduced by the U.S. Navy consultants …
What is PRINCE2 ?
PRINCE2 is derived from the earlier PRINCE (Projects IN Controlled Environments) project management method, which was initially developed in 1989 by the Central Computer and Telecommunications Agency (CCTA) as a …
