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Continuous Improvement The ongoing effort to improve a project process, product, or service to achieve better results. Cost Estimation The process of estimating projectcosts is done by leveraging historical data, expert judgment, or quantitative models. Feasibility Study An analysis of a project’s viability.
The shortest time estimated to complete a specific project task or activity is known as optimistic duration. PerformanceMeasurement Baseline. This creates a point of comparison of all the other baselines to evaluate projectperformance. Cost Estimation. Lean Six Sigma. Optimistic Duration.
also known as a Gantt chart, is a graphical instrument depicting the data related to a project. . is initial data for your projectperformancemeasurement necessary for the start. It usually consists of the three following components: schedule, cost, and scope. Control Costs . Cost Management .
also known as a Gantt chart, is a graphical instrument depicting the data related to a project. . is initial data for your projectperformancemeasurement necessary for the start. It usually consists of the three following components: schedule, cost, and scope. Control Costs . Cost Management .
Bottleneck: In project management terms, a bottleneck is any constraint that restricts the movement of a process. With this approach, the project'scost and/or duration are calculated by adding the cost/duration of all its constituent activities. Most, however, track the project'scosts and deadlines.
But delivering as quickly as [inaudible 00:17:09], get it done right now, minimizing projectcosts, cheap, right? Definitely, there has to be the communications planning involved with that as well to more of a lean and effective type of method. And it comes down to practicing effective documentation, elegant and lean.
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