What is Project Management?
Before understanding Project Management, it is important to know what a Project is, A project is temporary. It has a definite start and end date. Thereby having a defined scope …
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Overview of the Perform Integrated Change Control Process
In addition to the Monitor and Control Project Work process, the other process under Integration Management knowledge area and Monitoring and Controlling process group is the Perform Integrated Change Control. …
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Top 3 things to know about Monitor and Control Project Work Process
Monitoring and Controlling process as a whole oversees all the tasks and metrics necessary to ensure that the approved and authorized project is within scope, on schedule and on budget …
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Work Authorization System
The Work Authorization System is an important aspect and you can definitely expect atleast a question around it in the PMP exam. The Work Authorization System is basically a subsystem …
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Top 3 things you must know about Defects
Defects are inevitable and all projects have them. Fixing defects means fixing deliverables not necessarily the plan. Below are the top three things you should know about defects – 1. …
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Top 3 things you must know about Deliverables
‘Deliverables’ is one term you will come across many a times during the course of a project. We list the top 3 things you must know about deliverables below, these …
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Overview of Project Selection Concepts / Methods / Techniques
RELATED LINKS PROJECT SELECTION PLAYLISThttps://www.youtube.com/playlist?list=PLLRADeJk4TCK04Hcvb7lOX5FjXJtQhPdo YOUR PMP BRAIN DUMPhttps://www.youtube.com/watch?v=PxZ8j2KAOpY PMP FORMULA CHEAT SHEEThttps://www.youtube.com/watch?v=bOwdUsVI9ig LIST OF COMMON NAMES FOR PMP BRAIN DUMPhttps://www.youtube.com/watch?v=nxjU2labmWY SHOP FOR PMP AT AMAZON INDIAhttp://amzn.to/2xjhXlS
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Project Selection – Internal Rate of Return
Definition This is one of the most, if not the most, important metric that the Project Manager should be looking at because other stakeholders will definitely be doing so. To …
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Project Selection – Benefit-Cost Ratio
Definition Benefit-Cost ratio is the ratio of the benefits of a project compared to the costs calculated in terms of Present Value (PV). BCR > 1 – the project is …
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Project Selection – Opportunity Cost
Definition Opportunity Cost is the highest value a person needs to give up for the selected choice. For example, if you have US $10, you can either buy a coffee …
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