Description It is about the activity in the planning phase related to the checking of a product or service by test or inspection in order to meet the stakeholder expectations and product specifications. It is an independently-used project management tool. Where it is Used Process Groups This tool is used in the following Process Group(s) during the…
Description The techniques that are used to deal with an opportunity (a positive risk). There are five types of response to an opportunity namely – Escalate, Exploit, Share, Enhance, and Accept. It is an independently-used project management tool. Where it is Used Process Groups This tool is used in the following Process Group(s) during the project management…
Description The techniques that are used to deal with a project risk (negative or positive). There are different types of responses to a risk namely – Avoid/Exploit, Transfer / Share, Mitigate / Enhance, and Accept. It is an independently-used project management tool. Where it is Used Process Groups This tool is used in the following Process Group(s) during…
Description Three-Point Estimating is a technique used to estimate cost or duration of an activity by applying an average or weighted average of optimistic (O), pessimistic (P), and most likely (M) estimates when there is uncertainty with the individual activity estimates. E = (O + M + P) / 3. It is an independently-used project management tool. …
Description It is a set of criteria set by the buyer of a product or service that has to be met by the seller. In the procurement process, the bidders are evaluated by this process. Some popular methods include – Least CostQualifications OnlyQuality-basedHighest Technical Proposal ScoreQuality and Cost BasedSole SourceFixed Budget. It is an independently-used project management tool. Where…
Description It is a technique to identify early start, early finish, late start, and late finish dates of project activities. A schedule is prepared and subsequently modified by using one or more of the following techies. Schedule Compression Critical Path Method Critical Chain Method Resource Optimization It is an independently-used project management tool. Where it is Used It briefly…
Description These strategies use the techniques to deal with the threats (the negative risks). There are five types of response strategies to the threats, namely – 1. Escalate2. Avoid3. Transfer4. Mitigate5. Accept. ESCALATE When the risk or the risk response plan is outside the project it can not be managed by the project manager. So it has…
Description A team without meeting face to face, who may be physically located anywhere in the world, connected through communication technologies, working for a common goal in the project. It is used in Resource Management for team development and resource acquisition during the Executing phase. It is an independently-used project management tool. Where it is Used…
