Estimate at Completion (EAC) – When and How to Use Different Formulas?
EAC estimates the total project cost at completion based on the project’s performance up to a given point in time.
Earned Value Management – The Key to Cost and Schedule Control
Earned Value Management (EVM) is a project management technique used to assess project performance by comparing planned work with actual work completed and costs incurred. It integrates scope, schedule, and cost to provide a comprehensive view of project health. Below is an overview of EVM and its key formulas. Key EVM Metrics 1. Planned Value […]
Project Management – Business Case
Whenever you are working on the Project, you must need to know the purpose of the Project and reason the Project has been selected. As a Project Manager or Stakeholder this is important to you to know. Keep that in mind that the Projects WILL NOT START without any proper business NEED. There must be […]
Project Management – Knowledge Areas
We have discussed “Project Management Process Groups” in our Previous Article. Like Process Groups, all the processes are categorized into 10 Knowledge Areas. A Knowledge Area is defined by its knowledge requirements and described as its processes, practices, inputs, outputs, tools, and techniques. As Processes are logically linked, Knowledge Areas are also interrelated. How the […]
Project Management – Process Groups
Project Management is a wast area and there are multiple processes we need to follow to complete the Projects or Products. It is very difficult to manage the Projects, without Project Management & also it is very difficult to do Project Management if we do not follow any Project Management Standards or Project Management best […]