Project Management Terminology
Practice. A specific type of professional or management activity that contributes to the execution of a process and that may employ one or more techniques and tools.
Resource Optimization Technique. A technique in which activity start and finish dates are adjusted to balance demand for resources with the available supply. See also resource leveling and resource smoothing.
RAM (english) : Responsibility Assignment Matrix
If you are managing projects here are 6 good reasons to obtain your certification as Project Management Professional, PMP.
Discover how you can accomplish your PMP in 6 months as a very busy person.
Question to a Project Management Professional
|Question||Select the best option|
|In a large industrial engineering company with a steady portfolio producing transportation systems, the total cost of rework on projects last year was $400 million. Not forgetting other factors such as the impact on long-term customer satisfaction and integration of new technologies, your initial estimate of the targeted benefits from an investment in quality management would be:||
Answer & Explanation
Explanation : The primary benefit of meeting quality requirements is less rework, which means higher productivity, lower costs and increased customer satisfaction. If all rework were eliminated it would be worth $400 million. Besides this, there would be other benefits. But further analysis is required before estimating the actual benefits.
See also PMBOK® Guide – Sixth Edition: Sec. 18.104.22.168.
Why are more than 790.000 executives around the globe certified as PMP?
- Reason 1: Better opportunities for attractive positions
- Reason 2: Prospects of above average income
- Reason 3: Personal development
- Reason 4: Knowledge and ability up to date
- Reason 5: Competences in the international context
- Reason 6: Comprehensive operational capability