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 Assumption and constraint analysis is a process of identifying the underlying assumptions and constraints that may impact the success of a project. This process is typically performed during the early stages of project planning in order to ensure that all stakeholders have a shared understanding of the potential risks and challenges involved. The PMBOK guide describes…
Description Assessment of Other Risk Parameters  Some of the characteristics of the risks are- It is used to find the other characteristics in addition to the probability and impact of the risks. These are used to prioritize and organize them for further analysis Urgency. Risk response period. A short period implies high urgency. Proximity. How quickly the risk…
Description Alternative Analysis The PMBOK defines alternatives analysis as “the process of determining and evaluating different course options or solutions to achieve the objectives of the project.” In other words, it’s all about finding the best way to get the job done. There are a few different ways to approach alternatives analysis. One is to simply list out…
Description  It is an analytical technique to decide the reserve for the estimated schedule duration, budget, and cost for a project. It belongs to the tool category – Data analysis  Where it is Used  Process Groups This tool is used in the following Process Group(s) during the project management. Monitoring & ControllingPlanning Knowledge Areas This tool is used in…
