Project Management Processes and Knowledge Areas

Project Management Processes Process Groups and Knowledge Areas

PMP aspirants usually ask these common questions while preparing for the PMP Certification Exam: What are the project management processes? What are the project management knowledge areas? Why do we need these project management process groups and knowledge areas? They … Read more

Product Life Cycle and Project Life Cycle

Product Life Cycle and Project Life Cycle phases infographic

Why does a project manager need to understand both the project life cycle and the product life cycle? Because Project Life Cycle vs Product Life Cycle is a significant topic that every project manager must know. Although they sound quite … Read more

Portfolio Management, Program and Project Management

Project Management Program Management Portfolio Management infographic

Project Management, Program Management, and Portfolio Management are very important terms in project scope management. Although they sound similar, they refer to different concepts. Many PMP aspirants don’t know the differences between them. Knowing these concepts and understanding their differences … Read more

Project Selection Methods for Decision Making

Qualitative Quantitative Project Selection Methods & non financial criteria for project selection

The success of organizations is dependent on the profitability of projects that they select. Once an opportunity has appeared for a project, there are several reasons that need to be analyzed before an organization decides to take it up. Project … Read more

Earned Value Management System and Formulas

Earned Value Management , Planned Value, Actual Cost

There are roughly a dozen formulas in the earned value management formula set. Most EVM training presents them in a tidy sequence — PV, EV, AC, then the variance formulas, then the indices, then the forecasting formulas — as if … Read more

Earned Value Management Example: The EAC Formula Nobody Picks Correctly

Earned Value Management Example & Tutorial infographic

Something bothered me for a long time about how earned value management gets taught. Pick up any earned value management example or training material and you’ll find the EAC formula — Estimate at Completion, the forecast of total project cost … Read more