By: Ray Myers, Jr., PMP Gap analysis is a simple but useful tool that can help project managers achieve their objectives and improve performance.  It is a study that helps to find ways to bridge-the-gap between the current state and a desired future state. Gap analysis can also help to understand and prioritize business...
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By: Ray Myers, Jr., PMP Initiation Feasibility Study Business Case Financial Analysis Requirements Document Project Proposal Contract Project Charter End of Phase Checklist  Planning Scope Statement WBS (baseline) Statement of Work Project Management Plan Stakeholder Analysis Risk Management Plan Communications Plan Change Management Plan Issue Management Plan Quality Management Plan Procurement Management Plan Acceptance...
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By: Ray Myers, Jr., PMP Project manager tools include, but are not limited to: Scope Project charter Scope statement Statement of work Change management plan WBS Time Gantt charts PERT charts Critical path analysis Cost Cost estimates Earned value management About the Author: Ray Myers, Jr. is a PMP certified project manager with over...
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By: Ray Myers, Jr., PMP If you haven’t seen or used EVM formulas, you will at some point in your project management career and you will need to know these formulas to pass the PMP examination.  EVM stands for Earned Value Management.  Earned Value is a simple and easy to use method to quickly...
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By: Ray Myers, Jr., PMP The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in business and organizations.  SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis can be done in either an individual or group setting.  Conducting this analysis as a group...
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By: Ray Myers, Jr., PMP Pareto Analysis is a statistical technique that is used to focus attention to the vital few factors that are responsible for producing most of the problems in a project.  You’ve heard it said that 20% of the causes are responsible for 80% of the effort to resolve the problems. ...
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By: Ray Myers, Jr., PMP Here is another decision tool that is easy to understand and apply.  Is called PMI or Plus, Minus, and Interesting.  PMI is commonly used to compare alternatives. PMI P     Plus-positive reasons M    Minus – negative reasons I     Interesting- points of interest The process is quick, easy and may result...
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By: Ray Myers, Jr., PMP The Deming Cycle is a 4 step process that is typically used in business or project process improvement.  The 4 steps of the Deming Cycle are: Plan, Do, Check, Act or sometimes referred to as PDCA.  PDCA was the brainchild of Dr. Edwards Deming who is considered by many...
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By: Ray Myers, Jr., PMP SMART Goals have become a part of the vocabulary of project planning and performance management.  Everyone will benefit from goals and objectives when they are SMART because the object is to keep the project requirements clear and focused. Goals should be SMART Specific Measurable Achievable (alternatives: Ambitious or Agreed...
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By: Ray Myers, Jr., PMP Decisions are hard to make and they are even harder to make if you don’t have enough information about the problem or situation. Can’t make up your mind?  Too many options?  Don’t know what to do?  Well, don’t feel bad about it because everyone will have difficulty making a...
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