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Project Management Principle – Quality
Project Management Principle – Quality In project management, the “Quality” concept talks about how important it is to meet or exceed client standards by giving them a high-quality project product or service. Under this concept, project managers must make sure that the project is finished to the stated quality standards and meets the wants and demands of…
Cost Plus Award Fee Contract (CPAF)
Cost Plus Award Fee (CPAF) Cost Plus Award Fee (CPAF) is a type of contract in which the buyer pays the seller for the actual cost of the work done plus an extra award fee based on the quality of the work. The award fee is a performance-based reward that encourages the seller to do a better…
Cause-and-Effect Diagram
Cause-and-Effect Diagram A cause-effect diagram, also called an Ishikawa or fishbone diagram, is a graphic tool used to find and analyse the root causes of a problem or effect. It is named after Dr. Kaoru Ishikawa, a Japanese quality control expert who developed the technique. The diagram is structured like a fishbone, with the “effect” or problem…
Visual Data and Information
Visual Data and Information Visual data and information is the way that charts, graphs, diagrams, maps, and other visual aids are used to show and share data and information. Visual data and information can help people communicate and understand each other better by putting complicated or abstract ideas in a way that is more clear and easy…
Sensitivity Analysis
Sensitivity Analysis Sensitivity analysis is a method used in project management and making decisions to figure out how changes in certain factors affect how a project or decision turns out. It helps to figure out which factors have the most effect on the project or decision, and it lets project managers make choices based on a variety…
Net Promoter Score®
Net Promoter Score (NPS) Net Promoter Score (NPS) is a way to measure how loyal and happy a customer is. It’s based on a simple question: “On a scale of 0 to 10, how likely are you to recommend our product or service to a friend or colleague?” Customers who give a score of 9 or 10…