PMP

A root cause analysis method where the question 'Why?' is asked successively until the root cause of a problem is identified.

"When the production line stopped, the team used the 5 Whys Method to discover the root cause of the malfunction."

A principle stating that 80% of effects come from 20% of causes, also known as the Pareto Principle.

"The project manager applied the 80/20 Rule to prioritize tasks, knowing that 20% of the work would yield 80% of the project's value."

A comparative analysis method to test user preferences for two variables.

"The marketing team performed A/B Testing to determine which webpage design led to more conversions."

A risk management strategy of recognizing a risk and choosing not to take any action unless the risk occurs.

"Due to resource limitations, the team decided to accept the risk of potential delays in the delivery schedule."

A work effort required to produce a project deliverable, with definite start and end points.

"Completing the software coding is a critical activity in the project schedule."

A tool used to organize ideas into groups for analysis during brainstorming.

"The team used an Affinity Diagram to categorize the feedback from user surveys."

A flexible and iterative approach to project management and software development that focuses on delivering value and accommodating changes.

"The development team adopted Agile methodologies to adapt quickly to customer feedback."

The true cost incurred for work performed on an activity during a specific time period.

"The Actual Cost for the first phase of the construction project was higher than initially estimated."

The process of finalizing and documenting project results to formalize its completion.

"After delivering the product to the client, the project went through Administrative Closure."

Any project management product, such as processes, documents, or tools, used during the project lifecycle.

"The project charter is an essential Artifact that formally authorizes the project."

A standard or reference point in project management used for comparison, consisting of original project plans and actual performance.

"The project's progress was measured against the Baseline to determine if goals were being met."

The process of comparing products, services, or processes against those of leading organizations to identify best practices.

"Benchmarking against industry leaders helped us understand where our processes could be improved."

A document providing justification for undertaking a project, with an analysis of benefits, costs, and risks.

"The project initiator developed a Business Case to secure funding and support for the new initiative."