Earned Value Management: What is EVM?

Earned Value Management: What is EVM?

Today we will cover Earned Value Management (EVM). These days, cost and schedule overruns are common among projects, and these costly plan deviations affect an organization’s credibility. If you are managing projects, you must be aware of the situation and know how detrimental and stressful overruns can be. If these deviations are not controlled, the…

What is a Failure Mode and Effect Analysis (FMEA)?
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What is a Failure Mode and Effect Analysis (FMEA)?

No one wants a defective product. Defects are costly, frustrating, and damaging to the company’s reputation.

As a project manager, you will try to avoid failure in your deliverable using every possible technique. One is “Failure Mode and Effect Analysis,” or FMEA. This helps you locate potential issues with a product and allows you to take corrective action.

The FMEA can improve your systems, design processes, and production processes.

This technique is also known as “Failure Modes Effects and Criticality Analysis” (FMECA) or sometimes simply “failure modes.”

Scatter Diagram (Correlation Chart): A Guide with Examples
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Scatter Diagram (Correlation Chart): A Guide with Examples

A scatter diagram is one of the seven basic tools of quality, but many professionals find it to be a difficult concept.

Other charts use lines or bars to show data, while a scatter diagram uses dots. This may be confusing, but it is often easier to understand than lines and bars.

In this blog post, I will explain the scatter diagram.

A scatter plot, scatter graph, and correlation chart are other names for a scatter diagram.

Fishbone Diagram (Cause and Effect, or Ishikawa Diagram): Example and Template
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Fishbone Diagram (Cause and Effect, or Ishikawa Diagram): Example and Template

The fishbone diagram is one of the seven basic quality control tools. Though all these tools have their importance, the fishbone diagram is distinct.

In Six Sigma, you use it in the “Analyze” phase of DMAIC. DMAIC stands for define, measure, analyze, improve, and control.

This diagram got the name Ishikawa because Japanese professor Kaoru Ishikawa developed it in 1960. Mr. Ishikawa was a famous expert in quality management.

Control Chart versus Run Chart
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Control Chart versus Run Chart

In this blog post, we will discuss the control chart and the run chart. This is a request from Umasankar Natarajan, who is a visitor to my blog and asked me to write about the seven basic quality control tools.

Although a run chart is not one of these basic quality control tools, knowing it will help you understand the control chart.

Control charts and run charts are essential tools in quality management that help you identify trends or errors in the product or the process. These charts let you know:

Control Quality versus Validate Scope
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Control Quality versus Validate Scope

The control quality and validate scope processes help you build the right product and deliver it to the client. These are important processes and you should understand them well.

However, before we discuss these processes, let’s have a quick look at the meanings of “validate” and “verify.” I have seen many experienced professionals who don’t understand the difference between the two terms.

Verification is about building the product correctly.

What is a Workaround in Project Management?
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What is a Workaround in Project Management?

I have mentioned workarounds in many posts and comments. For many PMP aspirants, it was a new concept. A few of them requested that I write a detailed post on it. 

They had difficulty with understating a few issues, such as: What is a workaround? What plan do we use for workarounds? Which reserve will you use for workarounds? In which process do you manage workarounds?

So, I am writing this blog post on workarounds to answer these questions.

Work Performance Data and Work Performance Information

Work Performance Data and Work Performance Information

At a glance, Work Performance Data and Work Performance Information seem similar; both terms are different, although they are closely related; they help you understand the project’s status.

Work Performance Data gives you rough data on the project’s status and helps you create the Work Performance Information. It is the basis of performance reports.

A performance report is a very important communication tool for a project manager and to create it you will need Work Performance Data and Work Performance Information.

If you understand these two concepts, creating performance reports won’t be difficult.

Verification vs Validation
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Verification vs Validation

Validation and verification are two important terms in project management; they seem very similar, and it’s easy to get them confused.

These are important concepts and any PMP aspirants needs to understand them well. I will explain these terms fully, so you will have a better understanding of them when you finish this blog post.

This topic is not very important from the PMP exam point of view. However, as a project manager, you must know the difference between these terms.