## Difference Between Project Program & Portfolio Management

You can easily grasp the difference between project, program, and portfolio by looking at their definitions and understanding the main keywords. A project is a temporary endeavor undertaken to create a unique product, service, or result. A program comprises of related projects that are managed in a coordinated manner to obtain benefits, which are not…

## Critical Path Analysis Example – 2 Ways to Calculate Critical Path

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…

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

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…

## How to Remember Point of Total Assumption Formula?

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…

## 6 Main Formulas of a 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…

## What is a Fixed Price Incentive Fee Contract?

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…

## What is a Firm Fixed Price Contract?

Firm Fixed Price Contract Explained I have written a number of articles on different types of contracts. In some of my previous articles I have explained Fixed Price (FP) Contract. In this post, let me describe Firm Fixed Price (FFP) Contract. Even though FFP Contract is one of the sub-types of FP Contract but it is…

## PMP Formulas Behind Contract Types

Mathematical Orientation of Contract Types Procurement Management Knowledge Area of PMBOK® Guide defines 3 different Contract Types. I have already written two articles to explain these Contract Types. Contract Types explained through an Example Contract Types for PMP® Exam I have written this article to provide a completely different perspective to the Contract Types. This…

## Work Performance Data vs Work Performance Information For PMP Exam

You might be preparing for the PMP certification exam and want to know the difference between Work Performance Data and Work Performance Information. Understandably so. There are many confusing terms defined in the PMBOK Guide. PMP students often get confused between such terms as the definitions are often very cryptic. Work Performance Data and Work…

## Earned Value Management Formulas

Quick Reference for Earned Value Management Formulas If you are looking for a comprehensive list of all the Earned Value Management Formulas, then you are at the right place. If you are preparing for PMP® Exam, you will find all the Earned Value Formulas. This article would provide you with a step up in doing…