Category Archives for "Project Management"

project management

Difference Between Qualitative And Quantitative Risk Analysis

difference between qualitative and quantitative risk analysis

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 […]

Continue reading

3 Differences Between Configuration Management vs Change Management

configuration management vs change management

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 […]

Continue reading

3 Key Differences Between Project Program and Portfolio

project program and portfolio

Do you understand the difference between Project, Program and Portfolio Management? Generally all of us use Project, Program and Portfolio in day to day language without really giving a thought about the underlying meaning of these terms. But, most of the project managers find it difficult to distinguish between these terms. I have written this […]

Continue reading

Critical Path Analysis Example – 2 Ways to Calculate Critical Path

critical path analysis

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 […]

Continue reading

When is an Fixed Price with Economic Price Adjustment Contract Used?

fixed price with economic price adjustments

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 […]

Continue reading

How to Remember Point of Total Assumption Formula?

Point of Total Assumption

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 […]

Continue reading

6 Main Formulas of a FPIF Contract

fpif contract

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 […]

Continue reading

What is a Fixed Price Incentive Fee Contract?

fixed price incentive fee

Fixed Price Incentive Fee Contract Explained PMBOK® Guide defines 3 different types of Fixed Price (FP) Contract. I have written about Firm Fixed Priced Contract (FFP) and Fixed Price with Economic Price Adjustment Contract (FP-EPA) in other posts. In this post, I will talk about Fixed Price Incentive Fee (FPIF) Contract. You should also read the […]

Continue reading
1 2 3 7