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…
Description  TCPI (To-Complete Performance Index) is the ratio of outstanding cost of remaining work to the remaining budget. Usually calculated after the project starts to know the cost performance of the remaining work.It is used in Cost Management during Monitoring & Controlling phase.It is an independently-used project management tool. Where it is Used It briefly mentions…
Description  It is a competence building exercise that can be formal or informal can be done in the classroom, online, on-the-job from a team member, mentor, or coach. It is used in Resource Management for team development during the Executing phase. It is an independently-used project management tool.  Where it is Used It briefly mentions the…
Description  Root Cause Anaysis  A technique that is used to determine the underlying root causes of risk, variance, or a defect.  Often Cause and Effect Diagram is used to find the root cause. It is used in Risk Management to identify the main cause of anticipated threats (and opportunities). It is used in Quality Management to find out the…
Description  An exercise that enhances a team’s social relations and builds a better working environment that is more collaborative and cooperative. It belongs to the tool category – Interpersonal and team skills  Where it is Used  Process Groups This tool is used in the following Process Group(s) during the project management Executing Knowledge Areas This tool is used…
