Project Management Terminology

Determine Budget. The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.

Technique. A defined systematic procedure employed by a human resource to perform an activity to produce a product or result or deliver a service, and that may employ one or more tools.

Common Acronyms

ETC (english) : Estimate to Complete

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 the list below, ____________ is not an output of the process “Acquire Resources”.
  1. Basis of estimates.
  2. Project documents updates.
  3. Resource calendars,
  4. Enterprise environmental factors updates.
Answer & Explanation
Right answer
    1. Basis of estimates.
    2. Project documents updates.
    3. Resource calendars,
    4. Enterprise environmental factors updates.

Explanation : All these outputs belong to the process “Acquire Resources” except basis of estimates

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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