project management
Conflict resolution is an art of recognizing and handling disputes in a sensible, efficient, and balanced manner. According to the PMBOK Guide (A Guide to Project Management Body of Knowledge) 7th edition, there are 6 conflict management strategies. These are: Confronting/Problem Solving Collaborating Compromising Smoothing/accommodating Forcing Withdrawal/avoiding Let’s understand the overall conflict resolution process and…
Parametric estimating technique uses an algorithm or formula to calculate expected duration, cost, or resource requirements based on historical data and other project parameters. It uses statistical relationship between different project variables for estimating current values. Parametric estimation is one of the five project management estimation methods that are described in the PMBOK Guide (A…
As per the PMBOK Guide, a project can be defined as a temporary endeavor undertaken to create a unique product, service, or result. The main difference between projects and operations is that operations are not projects i.e., Operational work is neither temporary nor produces unique results. I have written this post to delve into the…
PMP exam has many confusing terms. PMBOK Guide’s explanations of these terms only increases the confusion because the Guide is bereft of any examples or diagrams. I have compiled this post to explain the difference between several confusing concepts that appear in the PMP certification test. PMP is one of the most difficult project management…
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…
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…
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…
![Project Charter: Example, Template, Definition, & Purpose [PMBOK]](https://www.pmbypm.com/wp-content/uploads/2018/04/Project-Charter.png)
A project charter is a formal document that authorizes the existence of a project and gives authority to the manager to use organizational resources for achieving the project objectives. A project charter is generally prepared at the start of a project. It is signed by the project sponsor. Usually, it is an internal document but…
You will find a discussion on the most important topics and concepts for the PMP certification exam in this article. You can use the definitions and notes written in this article to get acclimatized with the terms used in the PMBOK Guide and Agile Practice Guide. This article is divided into the following sub-topics. Project…
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…
