Seven Basic Quality Tools PMP Exam Guide

The seven basic quality tools facilitate data collection, data analysis and data visualization. PMBOK 5th edition specifically mentioned the complete list of the seven basic quality tools. However, PMBOK 6th edition has grouped all tools and techniques under six specific categories. Hence this post briefly describes all seven basic quality tools like Pareto diagrams, Check sheets, Control Charts etc. Read More

Quality Control Data Representation Tools

Quality control data representation tools are the set of tools and techniques that represent quality control data in graphical format. PMBOK 6th edition has grouped all tools & techniques in six major categories; data representation is one such category. Control quality process also uses tools from other categories such as data gathering & data analysis. This post describes quality control data representation tools. Read More

Net Present Value (NPV) Calculation Steps

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 Top 5 Criteria

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

Program Evaluation And Review Technique

Program Evaluation and Review Technique (PERT) is a project schedule development and analysis technique that represents a sequence of activities and activity relationship in a graphical format. PERT uses Arrow Diagram Method (ADM) technique to construct the network diagram. Activity-on-Arrow is an example of ADM method. PERT uses three-point estimation technique to arrive at the estimated duration. Read More

Schedule Network Analysis Methods

Project schedule network analysis is an analytical technique to identify critical path in a schedule network diagram and generate critical activities. It further specifies the degree of schedule flexibility in a given network logic. The output of schedule network analysis is a schedule model. This project schedule model serves as a basis for project execution, analysis, controlling and reporting. Read More

Variance Analysis In Project Management

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