A threshold is a certain level, point, or value that triggers a decision or action. It is a limit or boundary that defines a certain situation, state, or condition.
Thresholds can be used in many different fields, including project management, finance, science, medicine, technology, and more.
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It is used in monitoring and control and quality managment.
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Kailash B is a project management expert. He is passionate about helping people to become PMP certified and excel in their careers. He has 2 decades of experience in the field of IT project management.
A post-graduate in business management and both PMP® & PRINCE2® certified, Kailash is an active contributor to the Project Management Institute. He is the Founder of MyPMP Academics a, leading organization with the prime motive to help people grow in project management.
Stakeholder Engagement Plan The component of the project management plan known as the stakeholder engagement plan defines the strategies and activities necessary to enhance constructive participation of stakeholders in decision making and execution of the project. It may be official or informal. depending on the requirements of the project and the anticipations of the various stakeholders, the…
Strategic Plan In project management, a strategic plan is a high-level document that lays out the project’s goals, objectives, and priorities, as well as the steps that need to be taken to reach them. A strategic plan is like a road map for the project. It helps make sure that the resources and activities are in line…
Issue Log An issue log is a document or tool used in project management to keep track of and deal with issues or problems that come up during a project. It is also called a problem log, an exception log, or an issue register. The goal of an issue log is to give project team members a…
Stacey Matrix The Stacey Matrix is a tool used in project management and organizational theory to help teams and organizations figure out the right amount of structure and control for a given job or project. Ralph Stacey made it, and it is based on the work he did on complexity theory. Most of the time, the Stacey…
Are you curious about the PRINCE2 project management certification? This article will tell you everything you need to know about the certification, from what it is to how you can get it. What is PRINCE2? PRINCE2 is a project management certification that is globally recognized. The certification is divided into two levels: Foundation and Practitioner. The Foundation…
Project Schedule A project schedule is a detailed plan that lists the tasks, activities, milestones, and deadlines needed to finish a project. It gives the project team a road map to follow and makes sure the project is done on time and on budget. The following steps are needed to make a project schedule: Outline the project’s…
