Project Management Terminology

Project Stakeholder Management. Project Stakeholder Management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

Seller Proposals. Formal responses from sellers to a request for proposal or other procurement document specifying the price, commercial terms of sale, and technical specifications or capabilities the seller will do for the requesting organization that, if accepted, would bind the seller to perform the resulting agreement.

Common Acronyms

EAC (english) : Estimate at Completion

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
You are a project manager of a hardware development project. Testing the prototype is due to be done tomorrow when the customer request additional functionality to the product. Fortunately, the project is ahead of schedule and the change is easy to implement. What should you do?
  1. Refuse the request.
  2. Plan activities to implement the change.
  3. Ask the management to approve the change.
  4. Evaluate the impact of the change on the project.
Answer & Explanation
Right answer
  1. Refuse the request.
  2. Plan activities to implement the change.
  3. Ask the management to approve the change.
  4. Evaluate the impact of the change on the project.

Explanation : Since a change request is made, the project manager should first assess how the change wll impact the project.

See also PMBOK® Guide – Sixth Edition: Sec. 4.5.3.2.

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

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

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