Statemenet of Work (SOW) It is a contract in the for of a document that provides a detailed explanation of the outcomes you may expect from the project. It provides information of the deliverables, milestones, schedule and other terms and conditions.  Usage Used by the customers while a contract to the vendors for work.
Stakeholder Analysis Stakeholder analysis is a method used to find and understand the different people who have an interest in a project or organization, as well as to figure out how their interests, power, and possible effects on the project or organization could be measured. The analysis involves figuring out who the stakeholders are, how interested and…
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…
Description It is the process of defining and managing the needs of the stakeholders in the project. It is used in the Planning Process Group and in the Scope Mgmt Knowledge Area. Process Group This activity is done in the following Process Group(s) during the project management. Planning  Knowledge Area This activity is done in the…
Description  It is the process of obtaining a team, resources, and materials for the project work. It is used in the Executing Process Group and in the Resource Mgmt Knowledge Area. Process Group This activity is done in the following Process Group(s) during the project management. Monitoring & Controlling Knowledge Area This activity is done in the…
Description  It is a graph that shows the relationships between two variables in visual representation using Cartesian coordinates. It belongs to the tool category – Data representation  Where it is Used  Process Groups  This tool is used in the following Process Group(s) during the project management Executing Monitoring & Controlling  Knowledge Areas This tool…
Risk Management has 7 processes as listed below. Plan Risk Management Identify Risks Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Responses Implement Risk Responses Monitor Risks Kailash B, MBA, PMP® Copyrights Reserved (MyPMP)
Description  It is the process of obtaining the team, resources, and materials for the project work. It is used in the Executing Process Group and in the Resource Mgmt Knowledge Area. Process Group This activity is done in the following Process Group(s) during the project management. Executing  Knowledge Area This activity is done in the…
