Earned Value Management
There is already a lot of stuff regarding Earned Value Management; still, people ask for it. Let me also try to put some insight, and I hope you will get …
PMP
Project Statement of Work & Project Scope of Work
Both of the terms are quite confusing sometimes, and let me clear this straightaway that; Scope of Work is just a section in the Statement of Work. Statement of Work …
To Complete Performance Index
To Complete Performance Index – TCPI is a tool that helps the project manager to estimate the budget required for the project completion. It also calculates the efficiency required in …
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 suggests – Rough means not with that much accuracy (-50% to +50% ) Project cost estimation starts before initiation as the Owners want to know how much …
Expected Monetary Value
Expected Monetary Value Analysis (EMV) is a statistical technique in risk management used to quantify the risks. This technique helps in determining the overall contingency reserve required. That contingency reserve …
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 the Critical Chain, we have to look at how a project …
Project Expediter vs Project Coordinator
When I was doing my PMP preparations, I came to know these terms, and to be honest; these were confusing for me. But later on, all was crystal clear as …
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 …