Description  It is a technique used for grouping individual risks. Categories of risk help identify the common areas of risk. Often project managers and PMOs have a pre-defined list of cateries of risks based on the information of past projects to easily identify the risks. The following are some common risk categories on the basis of the…
Description  It is an advance booking or recognition of project team members and resources. 1. It usually happens when bidding for a new project and identifying the team members and promised as part of the proposal to include the specific members to be part of the team. 2. It can also happen when the skill set of a…
Description Parametric Estimating A technique that is used to calculate the cost, budget, effort, and time (duration) based on project parameters. Example – Let us say, you are a project manager for a project that is working on a statewide electric transmission setup. Your project requires running electric cables of 200 KM. You have a team of…
Description Organizational Theory It is used in resource management to shorten the amount of time, cost, and effort. It deals with the information on the way a team and the organization behave. It mainly recommends the leadership style and change management while giving due consideration to the organizational structure and cultural impacts of the organizational theory when applied in…
 An information system to disseminate information about project management processes. It is an independently-used project management tool. Where it is Used  Process Groups Planning Executing Monitoring & Controlling Knowledge Areas Project Communications Mgmt.Project Integration Mgmt.Project Resource Mgmt.Project Risk Mgmt.Project Cost Mgmt.Project Schedule Mgmt. Activities   Estimate Costs  Estimate Activity Resources  Develop Schedule  Sequence Activities  Manage Communications  Direct and Manage Project Work …
Description Prototypes are built to support a method where a small model of the product is built to obtain the early feedback from the stakeholders and initiate a more tangible discussion that can help build the final product. It is an independently-used project management tool. Where it is Used Process Groups Planning Knowledge Areas Project Scope Mgmt….
Description It is the amount of time a successor task can be advanced with respect to a preceding task. It is an independently-used project management tool. Leads & Lags Where it is Used Process Groups PlanningMonitoring & Controlling Knowledge Areas Project Schedule Mgmt. Activities Develop ScheduleSequence ActivitiesControl Schedule Process Group Knowledge Area Activity Planning Project Schedule Mgmt. Develop Schedule Sequence Activities Monitoring &…
Description Knowledge Management It is a technique that connects people to share knowledge, create new knowledge, and work together.  It is an independently-used project management tool. Where it is Used  Process Groups Executing Knowledge Areas Project Integration Mgmt. Activities Manage Project Knowledge Process Group Knowledge Area Activity Executing Project Integration Mgmt. Manage Project Knowledge    Kailash B, MBA, PMP®Copyrights Reserved (MyPMP) Â
