The corporate world is no different. We hurl around some strange and unique buzzwords on a regular basis that confounds those outside of the business environment — and ironically many who work within the corporate world. If we look one step deeper into corporate jargon, different parts of the corporate world have their own unique sub-dialects and terminology as well.
Activity list, Activity attributes, Milestone list Activity sequencing[ edit ] Inputs: Expert Judgment Collections, Alternative Analysis, Publishing estimating data, Project management software implementation, Bottom up estimating Outputs: Activity resource requirements, Activity attributes, Resource breakdown structure, resource calendars, request change updates.
Activity duration estimating[ edit ] Inputs: Enterprise environmental factors, organization process assets, Project scope statement, activity list, activity attributes, activity resource requirements, resource calendars, project management plan, risk register, activity cost estimates Tools: Expert judgment collection, analogous estimatingparametric estimatingBottom up Estimation, Two-Point estimation, Three-point estimationreserve analysis Outputs: Activity duration estimates, activity attribute updates and estimates Schedule development[ edit ] Inputs: Organizational process assets, Project scope Statement, Activity list, Activity attributes, project Schedule Network diagrams, Activity resource requirements, Resource calendars, Activity duration estimates, project management plan, risk register Tools: Schedule Network Analysis, Critical path method, schedule compression, what if scenario analysis, resources leveling, critical chain method, project management software, applying calendars, adjusting leads and lags, schedule model Outputs: Project schedule, Schedule model data, schedule baseline, resource requirements update, activity attributes, project calendar updates, request changes, project management plan updates, schedule management plan updates Schedule control[ edit ] Inputs: Schedule management plan, schedule baseline, performance reports, approved change requests Tools: Progressive elaboration reporting, schedule change control system, performance measurement, project management software, variance, analysis, schedule comparison bar charts Outputs: Schedule model data updates, schedule baseline.
Cost[ edit ] To develop an approximation of a project cost depends on several variables including: Tools used in cost are, risk managementcost contingencycost escalationand indirect costs.
But beyond this basic accounting approach to fixed and variable costs, the economic cost that must be considered includes worker skill and productivity which is calculated using various project cost estimate tools.
This is important when companies hire temporary or contract employees or outsource work. Cost Process Areas[ edit ] Cost Estimating is an approximation of the cost of all resources needed to complete activities.
Cost budgeting aggregating the estimated costs of resources, work packages and activities to establish a cost baseline. Cost Control — factors that create cost fluctuation and variance can be influenced and controlled using various cost management tools.
Using the cost of similar project to determine the cost of the current project Determining Resource Cost rates: The cost of goods and labor by unit gathered through estimates or estimation. Using the lowest level of work package detail and summarizing the cost associated with it.
Then rolling it up to a higher level aimed and calculating the entire cost of the project. Measuring the statistical relationship between historical data and other variable or flow.
Aggregate the cost of each activity on the network path then add a contingency or reserve to the end result of the analysis by a factor determined by the project manager. Cost of Quality Analysis: Estimating the cost at the highest quality for each activity.
Project management software can be used to calculate the cost variances for a project. Scope[ edit ] Requirements specified to achieve the end result. The overall definition of what the project is supposed to accomplish, and a specific description of what the end result should be or accomplish.
A major component of scope is the quality of the final product. The amount of time put into individual tasks determines the overall quality of the project.
Some tasks may require a given amount of time to complete adequately, but given more time could be completed exceptionally.
Over the course of a large project, quality can have a significant impact on time and cost or vice versa.Project Management Training ALIPRO has added two new Instructors to our team for PMP® Exam Prep ALIPRO’s PMP® Prep training continues to deliver a high level of successful passes for those who finish the course satisfactorily.
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The ITSM (IT Services Management) modules include IT specific functionality according to ITIL V3, COBIT and PRINCE.
The ITSM functionality integrates with other modules including Project Management, CRM etc. Revised content aligns with PMBOK (Project Management Body of Knowledge) to ensure best practices and covers project constraints, stakeholder issues, the project charter, and how projects support an organization's strategic plan.