Question: A construction project you are working on needs unique software. You are assigned to develop a document that describes …

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Project Management Terminology

Cost Variance (CV). The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.

Voice of the Customer. A planning technique used to provide products, services, and results that truly reflect customer requirements by translating those customer requirements into the appropriate technical requirements for each phase of project product development.

Common Acronyms

BAC (english) : Budget at Completion

If you are managing projects here are 6 good reasons to obtain your certification as Project Management Professional, PMP.

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Question to a Project Management Professional

Question Select the best option
A construction project you are working on needs unique software. You are assigned to develop a document that describes the requirements for the software. What document is under consideration?
  1. Description of the project product.
  2. Procurement management plan.
  3. Standard or regulation.
  4. Procurement statement of work.
Answer & Explanation
Right answer
  1. Description of the project product.
  2. Procurement management plan.
  3. Standard or regulation.
  4. Procurement statement of work.

Explanation : The procurement state of work is a narrative description of products, services, or results to be supplied under contract.

See also PMBOK® Guide – Sixth Edition: Sec. 12.1.3.4.

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
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Discover how you can accomplish your PMP in 6 months as a very busy person.

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