PMBOK Guide Term Comparisons – Useful for CAPM & PMP Exam
I have written this article to provide complete details of project dependencies. It discusses all aspects of dependencies in project management including definition, meaning, and description. It also includes explanatory diagrams and small examples. You will also find difference between project dependencies, assumptions, constraints, and risks in this article. Project Dependencies – Definition & Meaning…
You might want to understand what project constraints are and how are they different from assumptions, dependencies and risks. A project constraint is any factor that hinders or restricts the options of the project team. There are six primary constraints in project Management viz. Scope, Time (Schedule), Cost (Budget), Quality, Resources, and Risk. Out of…
Project Assumption is a factor in planning process that is considered to be true, real or certain often without any proof or demonstration. It simply means that some things are supposed to be true. Human beings are presumptuous and work on suppositions. Sometimes these suppositions come out to be true while at other times they…
Do you thinks competitors are project stakeholders? Some say that’s obvious! They are Negative Project Stakeholders. They assert that, according to the PMBOK Guide, Competitors are not Project Stakeholders. Many PMP books state the same thing. But is it really true? Let me answer this question with some examples. Organizational Competitors vs. Project Stakeholders Since…
![Work Package In Project Management [Activity Examples]](https://www.pmbypm.com/wp-content/uploads/2013/12/Work-Package-1.png)
A work package contains the work defined at the lowest level of the Work Breakdown Structure (WBS) for which cost and duration can be estimated and managed. A WBS work package can be further decomposed (broken-down) into an activity list. The project team can produce a tangible outcome or create a deliverable by accomplishing these…
Project estimation is the most fundamental aspect of Project Management (PM). Analogous and parametric estimating techniques are most commonly used methods. You will find definitions, detailed description, and examples of these techniques in this post. You will also get to know about the difference between Analogous and parametric estimation. This post should help PMP aspirants,…
Quality Assurance vs Quality Control is one of the most confused and debated topics among project managers and quality professionals. Even some of the experienced and learned practitioners are not able to explain the difference between Quality Assurance and Quality Control. You will be easily able to distinguish and differentiate between these terms after reading…
When you think about project funding, you would think about Project Sponsor Role. So what is the role of Customer? Doesn’t Customer provide funds for the project? Is Project Sponsor same as Customer? I am often asked these kind of questions during PMP and other project management training workshops. Let us look at the definition…
PERT Formula is one on the ways for doing three point estimation. It calculates expected duration by finding the weighted average of three different estimates viz. Optimistic (O), Pessimistic (P), and Most Likely (M). E_PERT=(O+P+4×M)/6 The three point estimation can also be done by using simple average formula. E_SA=(O+P+M)/3 PERT (Program Evaluation and Review Technique)…
Project Charter Definition, Meaning and Purpose A few years ago, I got an assignment to setup PMO for a small software services company. After understanding their business and organization structure, I advised them to start creating Project Charter (PC) for every project. I provided a brief overview of PC to the main stakeholders and gave…
