Emotional Intelligence EI is the ability to recognise, understand, and control one’s own emotions as well as the emotions of others. It means being able to use feelings to guide thoughts and actions, deal with change, and make good relationships. Most of the time, EI is measured by a mix of self-report surveys and tests of ability….
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…
Estimate to Complete (ETC) Estimate to Complete (ETC) is a project management measure used to predict how much it will cost to finish a project as a whole. It’s an estimate of how much it will cost to finish the rest of the project’s work, based on the work that has already been done and any changes…
Expected Monetary Value (EMV) Expected Monetary Value (EMV) is a project management technique used to calculate the average outcome of a project when the outcome is uncertain and there are risks involved. EMV is calculated by multiplying the probability of each potential outcome by its corresponding monetary value, and then summing these products. The formula for calculating…
Explicit Knowledge Knowledge that is codified, written down, and easy to pass on from one person to another is called explicit knowledge. It is knowledge that is easy to talk about, write down, or store in digital or physical form, like manuals, policies, procedures, databases, and so on. Explicit knowledge is usually factual, measurable, and objective. It…
External Dependency An external dependency in project management is a link between a task in a project and something outside of the project that changes the start or end date of the task. This kind of dependency is also called a cross-functional dependency or an inter-project dependency. Dependencies on the outside world are usually caused by things…
Fast Tracking Fast tracking is a project management method used to shorten the time it takes to finish a project and make it go more smoothly. In a traditional way of managing projects, this is done by overlapping tasks or phases that would normally be done in order. Finding tasks on the critical path that depend on…
Firm-Fixed Price Contract A firm fixed-price contract (FFP) is a type of contract in which the buyer and seller agree on a fixed price for the product or service being provided. The price is set in advance and does not change, regardless of any cost overruns or changes to the scope of work. Under a firm fixed-price…
