Is Projectized The Best Project Organization Structure?
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...
View ArticleWork 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...
View Article3 Key Differences Between 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...
View Article3 Differences Between 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...
View ArticleProject Charter: Example, Template, Definition, & Purpose [PMBOK]
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...
View ArticleMost Important Concepts & Topics To Pass PMP Certification Exam
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...
View ArticleDifference Between Most Confusing PMP (PMBOK) Terms
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...
View ArticleProjects vs Operations Management: 10 Differences With Examples
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...
View ArticleEarned 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...
View ArticlePMP 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....
View ArticleWhat 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...
View ArticleWhat 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...
View Article6 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...
View ArticleHow 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...
View ArticleWhen 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,...
View ArticleCritical 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...
View ArticleFast Tracking vs Crashing: How To Compress The Project Schedule?
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...
View ArticleDifference 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...
View ArticleParametric Estimating In Project Management With Examples
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...
View ArticleConflict Resolution Strategies In Project Management (PMP)
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...
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