Project Management Practitioner

This is one of the Cost of Quality. This is also called as Cost Of Poor Quality.

This is the cost when the produced product/service does not meet or satisfy the requirement. There are two type of failure costs.

1. Internal Failure Cost
2. External Failure Cost

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This is one of the Project Endings. Most of the PM prefers to end or complete their in this way.

Extinction means that the project has been completed and formally accepted by the stakeholders or sponsors. As such, the goals or objectives of the project were achieved, and the project was closed and enters into normal BAU mode.

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This is one of the Strategies for positive risks or opportunities which is a tools and technique for Risk Response Planning.

Opportunities brings positive impact to the project or project team. As an experienced PM, you may want to make sure that they are occurring so that you can rip the benefits of these opportunities. This strategy used is called as Exploit.

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This is part of contingency theory of Develop Project Team.

The PM or the influencing person creates the impression as he/she is a subject matter expert or knowledgeable in the subject among the project team. Also the project team will believe that the influencer knows what they are doing and simply follow the suite.

In nutshell, the PM impresses the project team with his knowledge and skills and the team follows them.

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This is one of the tools and techniques of the Project Charter Development.

The basic idea is rely on the specialists or subject matter experts either individual or groups who have proper knowledge and experience in the assessing areas of the project charter and collect their inputs.

For example to identify the tasks related for a Oracle 10g data migration project, the PM can consult and get inputs from the people who worked in similar kind of data migration for lower versions or different databases. This will give a good idea and overview for the PM to understand and plan for his project.

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This is one of the Quantitative Risk Analysis Tools and Techniques.

EMV calculates the average and anticipated impact of the decision. EMV is always used with the decision tree analysis.

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It is one of the motivational theory which is part of the Recognition and Rewards tools and techniques of Develop Project Team.

According to Expectancy Theory, the expectation of a positive outcome drives motivation. People are motivated to behave and perform well if they think they will get good rewards for performing well.

The strength/likelihood of the expectation is a very important factor as the expectation drives the performance and any unrealistic reward announcement will severely dent the performance.

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Evaluation criteria is one of the rating and scoring proposals. This is an input to the Select Sellers process and not a tool and technique.

The procurement items will decides the type and method of evaluation criteria to be used. It varies based on the items and procurement company. No standard or universal method is available, each company will frame their own evaluation criteria for each procurement items.

Some items may be price driven, quality driven, and so on. Usually the PM to evaluate the items based on these criteria and company and decides.

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Enhance is one the three strategies for Positive Risk or Opportunities.

The enhance strategy follows the probability or impact of the potential risk event and assure to realizes the benefits of occurring the risk. This also emphasizing risk triggers and identifying the root causes of the risk to help enhance impacts or probability to get more yields from the risk.

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Schedule Network Analysis is one of the tools and techniques of Schedule Development process. Critical Path Method is one of the method used to perform Schedule Network Analysis. It calculates the float of each activities by applying the earliest start date, earliest end date, latest start date and latest finish date for each activity. 

PM can identify the Critical Path of the project schedule only after applying the Critical Path Method.

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