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.
Project Scope The features, functions, and characteristics of a product or service that are being built or delivered as part of a project are called its “scope.” It explains what the product or service will do, what it won’t do, and what its limits are. The project scope statement is a document that describes the project’s goals,…
Project Vision Statement A Project Vision Statement is a short, clear, and encouraging statement that explains the general goal and purpose of a project. It lets everyone know what the project is trying to do and how it will affect the people involved and the organisation as a whole. A well-written Project Vision Statement can get team…
PROJECT PERFORMANCE DOMAINS A project performance domain is a collection of connected activities that are essential for the successful delivery of project results. Project performance domains are interacting, interconnected, and interdependent areas of attention that work together to achieve project goals. There are eight project performance domains to consider: Stakeholder Performance Domain Team Performance Domain Development Approach…
Project Management Principle – Team Team is a key part of project management that stresses how important it is to build and lead a strong project team in order to reach project goals. This theory acknowledges that the success of a project often depends on the skills, knowledge, and cooperation of the people working on it. Managing…
Single Point Estimating A project management method called “single point estimating” is used to predict the cost, time, or resources needed to finish a project task or the whole project. Instead of using a range of values or a statistical method to guess the cost or length of a job, this method uses a single value. When…
Rework Rework in project management means that a task or activity that has already been done needs to be done again. This is usually because of mistakes, omissions, or changes in what the project needs. Rework can cause projects to go over budget and over time, and it can also affect the quality of the final deliverables….
