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PMO • OKR • Change • Excellence Blog
Control Costs focuses on monitoring and managing project expenses to ensure that the project stays within budget. This category covers essential techniques such as cost tracking, variance analysis, and implementing corrective actions. Want to gain control over your project finances and avoid budget overruns? Explore the blog posts to learn best practices for effective cost control and enhance your project management skills!
Test your knowledge of Earned Value Management (EVM) with this essential quiz based on the PMBOK 6th Edition. Featuring challenging Multiple Choice questions, it covers key EVM concepts such as Cost Variance, Schedule Variance, and forecasting techniques. Ideal for PMP candidates and project managers looking to enhance their skills and exam readiness. Read More
PMP Exam Prep Knowledge Area Quizzes are comprehensive multiple-choice Q&As that serve as a simulation for PMP aspirants and working professionals looking to enhance their project management skills. These quizzes are aligned with the PMBOK Guide and cover all ten knowledge areas, offering targeted practice and valuable feedback to prepare for the PMP exam. Read More
A project baseline is a reference point for planning, monitoring, and controlling project activities. It helps project managers assess performance, control changes, and ensure alignment with project goals. The three key baselines are Scope Baseline, Schedule Baseline, and Cost Baseline. This post elaborates the three essential project baselines. Read More
Earned value management system is a robust methodology to integrate schedule, scope, and cost baselines of a project. EVM is an analytical tool that also uses variances to track schedule and cost performance of a project. It further uses efficiency indicators to forecast project health. Though EVM analysis offers numerous benefits, implementing this technique offers some challenges. Read More
Project variance analysis is an important technique that allows project teams to constantly compare planned performance with actual project data. Hence, it assists project teams in identifying and analysing deviations in project performance. In simple terms, variance analysis is the variation between plan and actual project performance. It further helps to identify causes and assess severity of deviation. Read More
Understanding of earned value project management concepts is critical to successful implementation of this technique in real life projects. Solving earned value management example problems can not only help understand the concepts but also assist project management professional aspirants prepare for the pmp certification examination. This post consists of 3 basic types of evm problems. Read More
Project managers must face questions on future performance of project cost. The most commons questions are (a) What is the remaining work likely to cost? (b) What is the entire project likely to cost? (c) How much will be over or under budget at the end of the project? Earned Value Management technique has a set of highly effective and proven tools to forecast project cost performance. Read More
