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| Make or Buy Analysis |
This technique involves analyzing data about product requirements and comparing the alternatives between buying and manufacturing.
Process Group | Knowledge Area | Activity |
Planning | Project Procurement Mgmt. | Plan Procurement Management |
Kailash B is a project management expert. He is passionate about helping people to excel in project and product management, become PMP certified, and progress in their management careers.
Description Multi Criteria Decison Analysis (Copyrights MyPMP) It is a technique that analyzes risk, uncertainty, and valuation to evaluate and rank the decision making attributes & ideas in a project. It is an important decision-making tool. The other popular one is Voting. But contrary to Voting, it is slightly complex and in some places can give better…
Description It is a graph that shows the relationships between two variables in visual representation using Cartesian coordinates. It belongs to the tool category – Data representation Where it is Used Process Groups This tool is used in the following Process Group(s) during the project management Executing Monitoring & Controlling Knowledge Areas This tool…
Description Communication technology is critical in addressing team development issues. It contributes to the creation of a harmonious environment for the colocated team as well as a better understanding among the members of the virtual team, particularly those working in different time zones. Examples of communication technology that could be used – Portal that is shared. For…
Description It is an advance booking or recognition of project team members and resources. 1. It usually happens when bidding for a new project and identifying the team members and promised as part of the proposal to include the specific members to be part of the team. 2. It can also happen when the skill set of a…
Description Control Chart It is used to measure the stability and predictability of the outcome or performance of a product or a system of variables. Generally, it is used to monitor cost, schedule, defect, and scope variance in project management. It belongs to the tool category – Data representation Where it is Used Process Groups Monitoring &…
Description Resource Optimization A technique to adjust the start and finish dates of activities so that the planned resources will be less than or equal to the available resources. It is used in Schedule Management during the Planning, and Monitoring & Controlling phases of the project. It is an independently-used project management tool. Where…
