Monte Carlo Situation An adaptive approach, also called adaptive project management or adaptive methodology, is a flexible and iterative way to manage projects that focuses on learning, changing, and working together all the time. Adaptive approaches are especially helpful when project requirements are unclear or likely to change, or when the project team needs to react quickly…
Mood Chart A Mood Chart is a tool that helps people keep track of how their moods change over time. It is often used in mental health treatment to help people with mood disorders like bipolar disorder, depression, or anxiety keep track of their symptoms and find patterns and triggers. A typical mood chart is a grid…
Multipoint Estimating Multipoint estimating is a project management method used to estimate how long a project task or activity will take or how much it will cost. It uses optimistic, pessimistic, and most likely estimates to find a range of possible outcomes. In multipoint estimating, the project manager gets input from team members, stakeholders, and subject matter…
Net Promoter Score (NPS) Net Promoter Score (NPS) is a customer loyalty metric that is often used to measure how happy and loyal customers are. It is based on a simple question: “How likely are you to tell a friend or coworker about our product or service?” Customers rate how likely they are to buy something on…
Network Path In project management, a network path is a straight line from the beginning of a project to the end. It doesn’t have any branches or loops. In a project network diagram, it shows the shortest path or the most important path. A network diagram is a picture of a project schedule that shows the order…
Opportunity Opportunity management is the process of looking for and following possible possibilities that can help the project or the company. These chances can come from a number of different places, such as new technologies, changes in the market, or unplanned events. Effective chance management means finding possible opportunities early on in a project, figuring out how…
Organizational Breakdown Structure (OBS) An Organizational Breakdown Structure (OBS) is a chart or diagram that shows how people in an organisation report to each other. It shows how an organisation is broken up into smaller, easier-to-manage units or departments. It also shows what each unit does and how it works with the other units. In project management,…
Osmotic Communication In project management, osmotic communication is when people on a team passively share information and knowledge with each other. Most of the time, this kind of communication isn’t planned. It happens by osmosis, when team members pick up information from their surroundings, like overhearing talks or noticing body language. Osmotic communication can be a big…
