20% work generates 80% of the advantage Here is a simplified procedure to conduct a Pareto Analysis: Goal To Conduct Pareto Analysis Analysis Originally posted…
RetiredPM
Many people use the terms risk and issue interchangeably. But they are not the same and project managers should know the difference. First, define terms:…
Qualitative and Quantitative analysis is performed after potential risks have been identified. But what’s the difference between these confusing terms. Here is a short explanation:…
The project Monitor and Control process is used by project managers, project teams, and stakeholders to ensure the team is making satisfactory progress to the…
A project work package is the smallest unit of work in a work breakdown structure (WBS). The output of the scope definition process is the…
First, let’s define stakeholder. A stakeholder may be an individual, department, or organization who are involved in, may have influence over, or may be affected…
Have 2 experts make independent estimates (or one expert estimate it twice). Sadly, this seems to be the estimating technique on many projects. Fortunately, we…
Archiving project files and data is an important closing activity. The specific information that is archived for a project will vary between projects and organizations.…
Every project manager should be concerned with two questions during the Execution and Control phase of their project: The project manager works with the project…
In my experience, project success starts at the very beginning. Pay attention to the fundamentals of project management and make sure you start with a…
Parametric Estimating is an estimating technique that uses a statistical relationship between data and other variables to calculate the estimate. It is simply a mathematical…
The accuracy of an estimate can be improved by considering uncertainty and risk. PERT uses 3 estimates to define a range for an activity’s cost.…
Analogous estimating is a project management technique that uses information from similar projects to estimate the cost, duration, and resources required for a new project.…
Here are the characteristics of a successful projects: Here are some characteristics of troubled projects:
Here are a few thoughts on project management ethics and professional responsibility. PMI PMP professionals pledge and abide by the following Typical Ethics Statements Typical…