Critical path definition What is the critical path method? The Critical Path Method (CPM) is a project management methodology often used by construction project managers to determine the time a project should take from start to completion. critical path method refers to a sequence of activities taking the longest overall duration to complete and theyContinue reading “What is critical path method?”
Tag Archives: Project Management
Full form of PERT : Project evaluation and review technique
Full form of PERT Yes, PERT is an acronym, same as NASA, PESTLE & RICS. The full form of PERT is Project Evaluation and Review Technique. Why Project evaluation and review technique (PERT) required? Everybody has long term and short term goals in their personal and professional life. If anybody needs to achieve each ofContinue reading “Full form of PERT : Project evaluation and review technique”
Why Work breakdown structure is No 01 important for a project?
Proper coordination and planning are the vital ingredients of a successful project. A project consists of many unimaginable tasks and work elements. The secret of accurate planning is identifying these many tasks, dividing them into small manageable tasks, and creating coordination between tasks. A work breakdown structure (WBS) is a systematic and refined way ofContinue reading “Why Work breakdown structure is No 01 important for a project?”
Tendering process 1st step -decision to tender
The tendering process in construction-1st step Incorrect tendering and estimation process can lead a company into dangerous situations. Underestimation of a project can hurt owners and employees of the company at the construction stage. And overestimation can push the company out of the competition (tender rejections). Therefore any company should have a proper strategy orContinue reading “Tendering process 1st step -decision to tender”
6 Steps of Value Engineering Methodology
Value engineering is also called value analysis in the construction industry, And it is the most crucial step in the value management process. The Hard definition of Value engineering is, “Value engineering is the process of optimizing or improving project or product to deliver its maximum functionality or capabilities without spending much cost and without damaging the qualityContinue reading “6 Steps of Value Engineering Methodology”
What is Value management
What is this Value Management in the construction industry? Most of the people are misunderstood that value management is the method to reduce the cost of construction. As per the correct definition, value management is the systematical method used to develop a project to achieve its utmost benefits for the users and owners. To do it, theContinue reading “What is Value management”
What is Earned value management system (EVM)
Earned value management system (EVM) is a practice which project management professionals developed to evaluate performance & progress of a project. Implementation of this system in a project can provide several benefits. what are the advantages of the Earned value management system? An early indication of budget or time overrun More sensitive data for effectualContinue reading “What is Earned value management system (EVM)”