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.”

What is Six Sigma in Project Management?
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What is Six Sigma in Project Management?

Six Sigma is a quality management methodology used to reduce defects and maintain consistency in products.

Six Sigma is mentioned in the PMBOK Guide and included in the PMP Exam Content Outline, so you will see questions on this topic on your exam.

I see that many PMP exam reference books do not discuss this methodology. This is an important concept and you should know it.

WBS Dictionary: A Guide with Examples and Templates

WBS Dictionary: A Guide with Examples and Templates

Today, we will discuss WBS Dictionary, a vital project management document that complements the Work Breakdown Structure. This is an important document, and without it, you cannot monitor the scope performance. WBS Dictionary is a part of the scope baseline. The scope baseline has three components, and the other two components are the scope statement…

Expected Monetary Value (EMV): A Guide With Examples
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Expected Monetary Value (EMV): A Guide With Examples

Expected Monetary Value (EMV) is an integral part of risk management and used in the Perform Quantitative Risks Analysis process.

This technique involves mathematical calculations, and that is why many PMP aspirants ignore this concept. This is an important concept and I would not recommend you avoid it. Read this blog post and follow the examples. I believe it will help you understand the concept.

This is a straightforward concept and involves basic calculations. Once you understand the concept, solving questions will be easy for you.

Monte Carlo Analysis in Project Management.
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Monte Carlo Analysis in Project Management.

The Monte Carlo simulation is an important technique in risk management that many PMP and PMI-RMP exam study books do not describe in detail.

Most of the guides say it is a complex technique that requires a computer’s assistance, and so aspirants don’t dig further. This assumption is not true; it is a straightforward technique.

The Monte Carlo simulation is a quantitative risk analysis technique used in identifying the risk level of achieving objectives.

Project Network Diagram In Project Management: Definitions and Examples

Project Network Diagram In Project Management: Definitions and Examples

A project network diagram is a vital concept in project management, as it is the basis of your schedule and helps you allocate resources. If you are involved in project management, you must understand project network diagrams, their types, and their usage. I will cover this concept in detail in today’s blog post, and I…

Critical Path Method (CPM) in Project Management
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Critical Path Method (CPM) in Project Management

Critical Path Method (CPM) is a project schedule modeling technique. Mr. Morgan R. Walker and James E. Kelly developed this technique in the late 1950s.

Project planners use this method to develop schedules for many kinds of projects including IT, research, and construction.

Critical Path Method is a lengthy and complex concept. Please follow each step in this blog post and don’t move on until you understand the previous steps. If you follow this advice and complete the blog post, you won’t have any problems solving the questions on Critical Path Method.

Critical Chain Method (CCM) in Project Management
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Critical Chain Method (CCM) in Project Management

The Critical Path Method helps project managers develop and manage the schedule in the past.

This method makes the life of a project manager easy. They can plan activities with less effort, and this was a good communication tool.

However, there were many issues with the schedules developed by critical path methods. These schedules were not realistic, and projects started getting delayed, which caused crossing their cost baselines.

Many times these delays led to project termination, and this was hurting companies financially.