Threshold

Variance Analysis Variance analysis is a key tool used in project management to keep track of and manage how a project is going. It involves comparing how the project actually turned out to how it was planned or expected to turn out. This is done to find any differences or variances. In project management, the goal of…

WBS Dictionary A Work Breakdown Structure (WBS) dictionary is a document that explains in detail each part of a WBS such as its name, description, responsible person, schedule, budget, and other important details The goal of a WBS dictionary is to give the project team and other interested parties a complete guide. It is used to make…

Epic An epic is a large, high-level user story that describes a large feature or theme and can be broken down into smaller, more manageable pieces of work. An epic is usually too big to finish in a single sprint or iteration, so it might take more than one sprint to finish. In agile project management, epics…

A Work Breakdown Structure (WBS) is a fundamental project management technique that is used to divide a project into smaller, more manageable components. It divides the job into smaller, hierarchical portions, making the project easier to plan, manage, and execute. Let us see it through an example below. Assume you’ve been assigned with arranging a music event….

Metric In general, a metric is a measure or standard that is used to evaluate, assess, or quantify something. Metrics are used in project management to measure and track project performance and progress, as well as to judge how well the processes and practises of project management work. Metrics for project management can be put into several…