A SWOT Analysis is a tool that achieves competitive advantage by comparing your strengths to your competitor's weaknesses, and analyzing the opportunities and threats that are present. Whether in corporate strategy, project management, or your personal life, making the decisions between various options that each have their own pros and cons is essential to becoming a … [Read more...]
Quality Assurance vs. Quality Control
Many people are confused by the difference between these two terms, even experienced professionals. Trust me, the boundaries between them are sometimes grey. However, there is a difference. And once you realize it, you'll be amazed at how obvious it is. Objective They have different objectives. Quality Assurance (QA) focuses on preventing defects. Quality … [Read more...]
All You Need to Know About IPMA Level D Certification
The IPMA level D designation is an entry level project management certification issued by the International Project Management Association (IPMA) through member associations in each country. The nickname for level D certification is 'Certified Project Management Associate.' There are about 175,000 certifications worldwide in level D, the lowest of the four levels of … [Read more...]
Fortune Favors the Bold
There's nothing more aggravating than cheering or the underdog and then watching the favorite team win with what seems like a complete stroke of luck. But ask anyone who has played a sport. The lucky bounces always seem to go to the better team. It seems to defy logic when a shot results in a lucky bounce that has very little to do with skill. You inspect and … [Read more...]
Who Decides if a Project is a Success?
Project success criteria are sometimes fickle and elusive things. On paper, the budget and schedule feature prominently in every project. After all, a project is defined as a temporary endeavor to create a unique product or service. But most projects have a host of other criteria, like product quality, third party stakeholders, or end user evaluation results. And to … [Read more...]
All You Need to Know About CAPM Certification
The Certified Associate in Project Management (CAPM) certification is issued by the Project Management Institute (PMI) based in the United States. PMI is considered the leading project management certifying organization in the world. The PMI issues two project management certifications, of which the CAPM is the lower. The other, main, certification is Project … [Read more...]
Estimate at Completion (Earned Value Analysis)
In earned value analysis, the Estimate At Completion, usually abbreviated EAC, is the estimate of the final project cost given the past performance of the project. Thus, it allows the project manager to see what the final project cost estimate is. The EAC is one of four calculations in the Earned Value Management which allow you to forecast the future performance of … [Read more...]
Estimate to Complete (Earned Value Analysis)
In earned value analysis, the Estimate To Complete, usually abbreviated ETC, is the expected remaining cost to complete the project. It is not the final overall project cost (that's the EAC), rather it is the expenditure from now to the end of the project. It does not include what has already been spent. Thus, it allows the project manager to compare the funding needs … [Read more...]
The Earned Value Management System
Earned Value Management is the secret to project success! If you are passionate about having projects finish on time, on schedule, and with all other project success criteria satisfied, you must learn how to use it. Earned Value Management is a project control technique used by project managers to keep projects on schedule and budget. Earned Value analysis gives the … [Read more...]
How to Draw a PERT Chart
The Program Evaluation and Review Technique (PERT) is an important step in project scheduling. A PERT chart is a tool used to plan the execution of tasks within a project. PERT charts are a central part of any project management course. They are quick to draw and intuitive to use. How to Draw a PERT Chart There are two rules: Tasks (activities) are represented … [Read more...]