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Common Terms - Coggle Diagram
Common Terms
Earned value management is a way for project managers to track the work completed against the slated project plan. You can calculate earned value by multiplying the percent complete of a project by the total cost of the project budget to see how much your project's earned value is. This process can help you track your project's budget and timeline.
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Change control System
The process by which changes to the project are evaluated before approval, implemented, and documented.
Cost Variance#
is its earned value minus its actual cost. A negative cost variance indicates that a project is running over budget. A positive cost variance indicates that a project is running below budget.
Scrum
is a subset of Agile methodology in which teams learn about past experiences to influence the next steps of their project. In a Scrum team, there is one individual, known as the Scrum master, who helps guide teams through each of the scrum stages.
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Iterative process
An iterative process in project management describes a process that changes continually as the project progresses. Often organized by specific time periods or sprints, iterative processes involve periods of reflection to look back at what has been done and see what can be changed for the next iteration.
Essential contents of any effective program are exhaustive inventory of assets, identification of the specific maintenance tasks, their alignment to specific assets, reasonable maintenance schedule, indication of the appropriate skill set for each maintenance task, prediction regarding spare parts consumption and specification of the work that contractors will do.
assess, organise and prioritise tasks