Did you know that there are many types of project organization structures? Projectized structure is one of the many forms of organizations. You would ask what the difference is between Projectized and Project structure. And how is it relevant to project management? Read on. I have explained the finer nuances of projectized organizations in this … Read more Is Projectized The Best Project Organization Structure?
There are many Project Management (PM) terms, which are slightly confusing and difficult to understand. Qualitative Risk Analysis and Quantitative Risk Analysis are two such confusing terms. I have written this article to distinguish and differentiate between these terms. In addition, you will find detailed explanation of qualitative and quantitative Analysis techniques along with suitable … Read more Difference Between Qualitative And Quantitative Risk Analysis
You will find a detailed discourse of project schedule compression in this article. I will discuss about fast tracking and crashing as the two main methods to shorten the project duration. I will discuss these using an example and diagrams. This post will be equally useful for PMP aspirants and professionals who are doing project … Read more Fast Tracking vs Crashing: How To Compress The Project Schedule?
A Project Charter is generally considered as a worthless document but it is one of the most useful documents for managing projects. A Project Charter is generally prepared at the start of a project. It is signed by the Sponsor and issued to the project manager. This document authorizes the project manager to use the … Read more Project Charter: Example, Template, Definition, & Purpose [PMBOK]
Is configuration management part of change management? Or, is it the other way around? A few months ago, there was an interesting discussion on one of the LinkedIn forum. The discussion was focused on configuration management vs change management. A few participants said that Configuration Management Plan is part of Change Management Plan. While other … Read more 3 Differences Between Configuration Management vs Change Management
There is a difference between Project, Program and Portfolio but many people use these terms interchangeably in day to day conversations. Different companies use these terms differently. Many people within the same company use them differently. Usually, there is confusion around the meaning of these term. Each of these terms have a distinct meaning & … Read more 3 Key Differences Between Project Program & Portfolio Management
Critical Path Analysis Example – Using 0 and 1 Method I got introduced to Critical Path Analysis in the year 1997. I am a software engineer by education. I learned most of the project management concepts while managing software projects – Critical Path Analysis was one such concept. I learned about Critical Path while using … Read more Critical Path Analysis Example – 2 Ways to Calculate Critical Path
Fixed Price with Economic Price Adjustment Contract Explained Fixed Price with Economic Price Adjustment Contract is a variation of the basic Fixed Price Contract (FP). In some of my previous articles, I have explained all the other variations of FP Contracts (as enumerated in PMBOK® Guide). In this article, I will talk about Fixed Price … Read more When is an Fixed Price with Economic Price Adjustment Contract Used?
Point of Total Assumption Formula in Fixed Price Incentive Fee Contract How do you remember any formula? Simple! Understand the concept you will not need to remember the formula. I heard about Point of Total Assumption when I was preparing for PMP® Exam. At the beginning, it sounded very funny. One of the meanings of … Read more How to Remember Point of Total Assumption Formula?
Incentive Calculation in a FPIF Contract In my previous post, I described Fixed Price Incentive Fee Contract (FPIF). In this article, I will discuss the formulas and incentive calculations for an FPIF Contract. Let me summarize the basic nature of the contract before getting into formulas and calculations. The basic nature of a FPIF Contract … Read more 6 Main Formulas of a FPIF Contract