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Project Management Best Practices Blog & PMP Resources
The PMBOK Guide seventh edition is divided into two main parts namely; the standard for project management and secondly, A Guide to the Project Management Body of Knowledge. The standard for project management includes two major components, firstly, a system for value delivery, and secondly, the 12 project management principles. Read More
Project Management Body of Knowledge 6th edition has 49 different project management processes. The 5 different process groups logically categorize these processes. Further, the 10 knowledge areas also make use of these processes to establish a specific field of study. This article describes how these processes link with process groups and knowledge areas. Read More
The new PMP Exam 2021 has come into effect from 02 January 2021. Thus, the PMP certification exam is now based on the new exam content outline. As a matter of fact, PMI published its new exam content outline in June 2019. Now that the changes have come into effect it is good to understand these changes. Read this post to understand major changes to the PMP Exam. Read More
Project Phase and Project Management Process Groups are often misunderstood terms. Project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables. However, Process Groups are logical grouping of project management processes. This blog post describes the differences between the two terms. Read More
Net Present Value is a financial analysis technique that evaluates project profitability. It is a useful project selection technique. NPV project selection criteria falls under the classification of benefit measurement method. Further, NPV analysis uses discounted cash flow method to assess project profitability. In fact, major advantage of NPV method is that it uses time value of money. Read More
Project selection methods have a vital role during project initiating phase. In fact during the project selection process a project manager rarely has any involvement. However, knowing the essentials of the project selection process adds value to the overall project execution. Moreover, those aspiring for the pmp certification examination need to know the basics of project selection criteria. 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
