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Month: July 2018

Define Simulation in Project Management Knowledge

Simulation is an analytical technique that models the combined effect of uncertainties to evaluate their potential impact on objectives. The effects of uncertainties are analysed and translated in to range estimates in the form of optimistic, most likely and pessimistic estimates using PERT or three point estimating techniques. From these estimates, the mean value is […]
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What is Product Analysis ? | Project Management

Product Analysis Product Analysis for projects that have a product as a deliverable, it is a tool to define scope that generally means asking questions about a product and forming answers to describe the use, characteristics, and other relevant aspects of what is going to be built or manufactured. Where Applied? Within the PMBOK® Guide, […]
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Trend Analysis [Technique] – Project Management Knowledge

Trend Analysis Trend Analysis an analytical technique that uses mathematical models to forecast future outcomes based on historical results. Where Applied? Within the PMBOK® Guide, Trend Analysis technique is used in the following processes: MONITOR AND CONTROL PROJECT WORK Trend analysis is used to forecast future performance based on past results. It looks ahead in […]
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