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| Funding Limit Reconciliation |
It is the comparison between the planned expense limits and the commitment of funds during a specific time period.
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Process Group
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Knowledge Area
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Activity
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Planning
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Project Cost Mgmt.
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Determine Budget
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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 Iteration Burndown (Picture Source – Wikipedia) It is a chart to track the unfinished work in an iteration. A graph is plotted usually with the remaining work in the y-axis and time in the x-axis. It helps forecast the variance of actual burndown against the ideal burndown chart and forecast the expected burn down in the…
Description Information Management These are the tools and techniques used to connect people to the information for sharing simple, unambiguous, and explicit knowledge. It is an independently-used project management tool. Where it is Used Process Groups Executing Knowledge Areas Project Integration Mgmt. Activities Manage Project Knowledge Process Group Knowledge Area Activity Executing Project Integration Mgmt. Manage Project Knowledge Kailash B, MBA, PMP®Copyrights…
Description Cost of Quality The cost of quality is the additional investment done to maintain the standard of quality (conformance) as compared to non-conformance. It usually comprises of prevention, appraisal (measuring, auditing inspecting, testing, etc.), and failure costs (meeting requirements of product and service). It belongs to the tool category – Data analysis Where it is…
Description Meetings Meetings in Project Management are used to discuss the plan, approach, execute, monitor, and control the project. It is one of the most widely used tools that is used in all 5 Process Groups and 10 Knowledge Areas. It is an independently-used project management tool. Where it is Used Process Groups Initiating Planning Executing Monitoring…
Description Risk probability assessment talks about assessing the likelihood of the risk. Risk impact assessment talks about the impact related to the finance, time, resource, scope, and performance of the project. It belongs to the tool category – Data Analysis Where it is Used Process Groups This tool is used in the following Proces Group(s) during the project…
Description Design for X Design for X (DfX) is a set of technical guidelines that may be applied during the design of a product for the optimization of a specific aspect of the design. It is an independently-used project management tool. Where it is Used Process Groups Executing Knowledge Areas Project Quality Mgmt. Activities Manage Quality Process Group Knowledge Area Activity Executing…
