Project Management Terminology

Specification Limits. The area, on either side of the centerline, or mean, of data plotted on a control chart that meets the customer’s requirements for a product or service. This area may be greater than or less than the area defined by the control limits. See also control limits.

Stakeholder Engagement Assessment Matrix. A matrix that compares current and desired stakeholder engagement levels.

Common Acronyms

SF (english) : Start-to-Finish

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
Honestly speaking, many project managers don’t see the difference between the critical path method and the chain method. What would be the best definition of the difference between the two?
  1. The critical chain method does not consider the effects of resource allocation, resource optimization, and resource leveling on project duration.
  2. The critical chain approach is a descendant of the critical path method.
  3. The critical chain method introduces the concept of buffer management, while the critical path uses float management.
  4. Practically, there is no difference. The two names are often used interchangeably.
Answer & Explanation
Right answer
  1. The critical chain method does not consider the effects of resource allocation, resource optimization, and resource leveling on project duration.
  2. The critical chain approach is a descendant of the critical path method.
  3. The critical chain method introduces the concept of buffer management, while the critical path uses float management.
  4. Practically, there is no difference. The two names are often used interchangeably.

Explanation : The critical chain method focused on managing the buffers instead of managing the total float of network paths, as the critical path method does. It is indeed developed from the critical path method, but this not answer the question.

See also PMBOK® Guide – Sixth Edition: Sec. 6.6.2.2.

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.

>>> 4 to 6 months with individual telecoaching in German – English – French – Spanish>>>