Scope Baseline A scope baseline is a document that describes the agreed-upon project scope and is used as a point of reference throughout the project. It describes the project’s goals, deliverables, and requirements that must be met for the project to be considered a success. The project scope statement, the Work Breakdown Structure (WBS), and the WBS…
Sponsor n the context of a project or organization, a sponsor is an individual or group that provides financial or other resources to support the project or organization’s goals and objectives. The sponsor is typically a senior executive or other influential individuals within the organization, or an external partner, who has the authority to allocate resources and…
Specification A specification is a detailed list of product, service, or process needs or its working. It is a formal document that lists the technical or functional standards and specifications that must be met to make sure the product, service, or process works as it should. Usually, specifications include design, performance, functionality, quality, safety, and quality requirements,…
XX There are several pieces of information that are not clear or are not necessary to be available with clarity while we go through the project. We assume and progress. In most cases, it is done at the beginning of the project where we outline the basic assumptions and as we dive into the project we keep…
Tailoring In project management, tailoring means changing project management processes, methods, and tools to fit the needs of a specific project. It means choosing, adapting, and changing project management processes and techniques to fit the specific needs of a project and help it reach its goals. In the tailoring process, the project’s characteristics, goals, and limitations are…
Volatility Volatility is a term used in project management to describe how uncertain, unpredictable, or different the project’s requirements, scope, timeline, or resources are. Volatility can come from many different places, like when business priorities, market conditions, customer needs, or government regulations change. Volatility can have a big effect on the success of a project because it…
Prioritization Matrix A prioritization matrix is a tool used in project management to rank tasks or projects and decide what to do based on more than one factor. It is also called a decision matrix, a criteria rating form, or a weighted decision matrix. Most of the time, the prioritization matrix is a table with the evaluation…
Prioritization Schema Prioritization schema is a way to arrange tasks, projects, or goals in order of how important or urgent they are. It is an important tool for managing time, projects, and making decisions because it helps people and groups focus their efforts and resources on the most important tasks or goals. There are different ways to…
