Source Selection Criteria In project management, source selection criteria are the factors or traits that are used to analyse and choose the best vendor, supplier, or contractor for a project. These criteria help project managers make choices that are well-informed by taking into account things like cost, quality, expertise, reputation, and other relevant factors. Most of the…
Make-or-Buy Decisions A make or buy decision is a strategic choice made by organisations to determine whether to produce products or services internally (make) or acquire them from an external vendor (buy). (buy). Typically, the decision is based on a cost-benefit analysis that takes into account the financial, operational, and strategic implications of each alternative. The manufacture…
Stakeholder Register A stakeholder register is a document or instrument that contains information about the parties involved in a project or organisation. It is an essential aspect of stakeholder management and ensures that stakeholders are identified, analyzed, and managed appropriately throughout the life cycle of the project or organisation. Typically, the stakeholder register contains the following information:…
Stakeholder Engagement Plan The component of the project management plan known as the stakeholder engagement plan defines the strategies and activities necessary to enhance constructive participation of stakeholders in decision making and execution of the project. It may be official or informal. depending on the requirements of the project and the anticipations of the various stakeholders, the…
Uncertainty Performance Domain of Project Management – PMBOK VII In the Uncertainty Performance Domain, tasks and functions that deal with risk and uncertainty are covered. When this performance domain is carried out well, the following things happen: A good understanding of the technical, social, political, market, and economic environments in which projects take place, among others. Exploring…
Measurement Performance Domain of Project Management – PMBOK VII The Measurement Performance Domain is made up of activities and functions that have to do with figuring out how well a project is doing and taking the right steps to keep it doing well. When this performance domain is carried out well, the following things happen: A good…
Delivery Performance Domain of Project Management – PMBOK VII The Delivery Performance Domain is made up of activities and tasks that have to do with delivering the project’s scope and quality. When this performance domain is carried out well, the following things happen: Projects help businesses reach their goals and move their strategies forward. Projects achieve the…
Project Work Performance Domain of Project Management – PMBOK VII The Project Work Performance Domain is made up of activities and tasks that have to do with setting up project processes, managing physical resources, and creating an environment where people can learn. When this performance domain is carried out well, the following things happen: Project performance that…
