PMBOK 6th Edition Changes Vs PMBOK 5th

The Guide to The Project Management Body of Knowledge (PMBOK Guide)® is an indispensable resource for project managers as well as for PMP aspirants. The guide includes the standard for project management, key concepts and project management processes. The PMBOK guide fifth edition was published in 2013, In September 2017 PMI released the PMBOK 6th edition. So what exactly has changed? Read More

Sequence Activities Tools and Techniques

While developing the project schedule it is imperative that all activities that relate to project success are clearly identified. These identified activities are then analysed for relationships that exists among them so that a well-structured and a logically correct schedule network diagram can be established. Dependencies and logical relationships help to establish the relationships among various project activities. Read More

Critical Path Analysis Solved Example

Critical path analysis is the process of identifying the longest path in a schedule network diagram. It not only indicates completeness of project schedule but also helps to ascertain degree of schedule flexibility. Moreover, critical path analysis also reveals the minimum duration required to complete a project. Critical Path Method (CPM) is the most popular project schedule analysis technique. Read More

Critical Path Method Schedule Analysis

Critical path method in project management helps to identify a sequence of activities that requires close monitoring. This sequence of activities is known as critical path. It is the most important outcome of critical path method (cpm) network analysis process. Hence, critical path method network analysis technique ensures that there are no schedule slippages and cost overruns. Read More

Forecast Project Cost Earned Value Method

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

Earned Value Analysis Project Management

Earned Value Management Analysis methodology is an analytical tool that uses data generated during project execution. Analysis of the collected data reveals the present state of the project. Further, analysis of the trends in the data can forecasts the future project performance. The collected data when compared to a baseline indicates variances in project performance. This also helps in initiating corrective actions. Read More

Earned Value Management Methodology

Earned Value Management (EVM) is an analytical tool that systematically integrates measurement of cost, schedule, and scope accomplishments on a project. EVM was developed in 1960’s by Department of Defence (DOD) to keep track of defence projects. It is a technique used to track project progress and report project’s current status, it is also used to forecast future performance. Read More