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Product breakdown structure. In project management under the PRINCE2 methodology, a product breakdown structure ( PBS) is a tool for analysing, documenting and communicating the outcomes of a project, and forms part of the product based planning technique. The PBS provides "an exhaustive, hierarchical tree structure of deliverables that make up ...
In a project plan, the critical chain is the sequence of both precedence - and resource-dependent tasks that prevents a project from being completed in a shorter time, given finite resources. If resources are always available in unlimited quantities, then a project's critical chain is identical to its critical path method .
The critical path method ( CPM ), or critical path analysis ( CPA ), is an algorithm for scheduling a set of project activities. [ 1] A critical path is determined by identifying the longest stretch of dependent activities and measuring the time [ 2] required to complete them from start to finish. It is commonly used in conjunction with the ...
Program evaluation. Program evaluation is a systematic method for collecting, analyzing, and using information to answer questions about projects, policies and programs, [ 1] particularly about their effectiveness and efficiency. In both the public sector and private sector, as well as the voluntary sector, stakeholders might be required to ...
Beta distribution is a combination of probability theory and statistics, most commonly used in project management for time allocation and to analyse random variables. Critical path drag is a project management metric used to schedule analysis and compression in the critical path method of scheduling. Drag cost is the reduction in the expected ...
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives. It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business ...
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