Earned Value Analysis Earned Value Analysis (EVA) is a method used in project management to measure how well and how far along a project is. It is a way to check if a project is on track, behind schedule, or over budget by keeping track of its progress and comparing it to the plan. EVA combines the…
Expected Monetary Value Expected Monetary Value, or EMV, is a statistical method used in project management to predict how much a future event or choice might be worth or cost. It’s a way to figure out how much something might cost and how likely it is to happen. It also helps you make decisions based on the…
Influence Diagram Impact mapping is a method used in software development, project management, and product development to make sure that everyone involved in a project or product has the same idea of what its goals are and to find the best way to reach those goals. At its core, Impact Mapping is a visual, group-based method that…
Lifecycle Assessment Lifecycle assessment (LCA) is a way to figure out how a product or service affects the world over its whole life, from getting the raw materials to throwing them away. The goal of LCA is to find ways to lessen a product’s or service’s effects on the world and make it last longer. Usually, a…
Probability and Impact Mtrix A Probability and Impact Matrix is a tool used in risk management to rank risks by how likely they are to happen and how bad they could be for a project or organization. A Risk Matrix is another name for it. The Probability and Impact Matrix is usually shown as a two-dimensional grid….
Process Analysis Process analysis is a way to look at a process, figure out how it works, and make it better. It includes finding the steps or tasks in a process, figuring out how they relate to each other, and finding places where the process can be improved. Usually, the following steps make up a process analysis:…
Regression Analysis Regression analysis is a mathematical method for figuring out how a dependent variable (Y) is related to one or more independent factors (X) by looking at the data. The main goal of regression analysis is to predict the values of the dependent variable based on the values of one or more independent factors. Simple linear…
Root Cause Analysis Root cause analysis (RCA) is a method used in project management to find out why problems or failures in a project happened in the first place. The goal of RCA is to find the main cause(s) of a problem instead of just fixing the symptoms. This way, the right steps can be done to…
