Identifying risks is a never-ending task, although some are more likely to occur than others. In addition, certain hazards will inflict a substantial amount of damage to your enterprise, while others will barely make a dent. Therefore, we wish to concentrate our efforts on events that are not only probable but also have the most […]
A Project Management Plan (PMP) is a document that outlines how a project will be executed, monitored, and controlled. It includes information on the project’s objectives, stakeholders, deliverables, timelines, resources, and risks. The PMP serves as a guide for managing the project, and is typically developed by the project manager in collaboration with the project […]
The accuracy of an estimate is a measure of how close the estimate is to the actual value. The accuracy of an estimate can be affected by several factors, including the amount of information available, the level of detail in the estimate, and the method used to create the estimate. The Usage of different estimates […]
In project management, cost and schedule estimation refers to the practice of projecting the amount of time and money required to accomplish a project. This process entails identifying and assessing all essential tasks, defining the resources (e.g., people, materials, equipment), and estimating the duration of each activity. The information gathered and processed through estimation is […]
Parametric estimation is a project management technique that uses statistical data and mathematical models to estimate the cost and duration of a project. It is based on the idea that many project characteristics can be described and predicted using statistical data and that a mathematical model can be used to estimate the cost and duration […]
Bottom-up estimation, also known as detailed estimation, involves breaking down a project into smaller tasks or activities, and then estimating the time and resources required for each task. This approach allows project managers to estimate the cost and duration of the project by summing up the estimated costs and durations of all the individual tasks. […]
Analogous estimation, also known as top-down estimation, is a project management technique that uses historical data from similar projects to make an estimate for the current project. This approach involves identifying a previous project that is similar in scope, size, and complexity to the project is estimated, and then using the data from that project […]
Definitions of Epic, Themes, User Stories, Tasks and Features Theme: A theme is a collection of features or epics that are grouped together based on a common goal or area of functionality. Themes help to organize and prioritize the work that needs to be done and align it with the overall goals of the project. […]
A context diagram is a high-level diagram that shows the relationship between a system and its external entities. It is used to provide a clear and simple overview of a system and its interactions with other systems or actors. The elements of a context diagram typically include: Example of the Context Diagram An example of […]
