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(Analogous Estimating)
Analogous estimating is a technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. Analogous estimating uses parameters from a previous, similar project, such as duration, budget, size, weight, and complexity, as the basis for estimating the same parameter or measure for a future project. When estimating durations, this technique relies on the actual duration of previous, similar projects as the basis for estimating the duration of the current project. It is a gross value- estimating approach, sometimes adjusted for known differences in project complexity. Analogous duration estimating is frequently used to estimate project duration when there is a limited amount of detailed information about the project. Analogous estimating is generally less costly and less time-consuming than other techniques, but it is also less accurate. Analogous duration estimates can be applied to a total project or to segments of a project and may be used in conjunction with other estimating methods. Analogous estimating is most reliable when the previous activities are similar in fact and not just in appearance, and the project team members preparing the estimates have the needed expertise.

(Trends and Emerging Practices in Project Quality Management)
Continual improvement. The plan-do-check-act (PDCA) cycle is the basis for quality improvement as defined by Shewhart and modified by Deming. In addition, quality improvement initiatives such as total quality management (TQM), Six Sigma, and Lean Six Sigma may improve both the quality of project management, as well as the quality of the end product, service, or result.

(Data Analysis)
Earned value analysis (EVA), sometimes called earned value management (EVM), compares the performance measurement baseline to the actual schedule and cost performance. EVM integrates the scope baseline with the cost baseline and schedule baseline to form the performance measurement baseline. EVM develops and monitors three key dimensions for each work package and control account.

Test and evaluation documents. Project documents that describe the activities used to determine if the product meets the quality objectives stated in the quality management plan.

(Procurement Documentation)
Procurement documentation provides a written record used in reaching the legal agreement, and may include older documents predating the current project. Procurement documentation can include the following:
• Bid documents: procurement documents include the RFI, RFP, RFQ, or other documents sent to sellers so they can develop a bid response.
• Procurement statement of work: the procurement statement of work (SOW) provides sellers with a clearly stated set of goals, requirements, and outcomes from which they can provide a quantifiable response.
• Independent cost estimates: independent cost estimates are developed either internally or by using external resources and provide a reasonableness check against the proposals submitted by bidders.
• Source selection criteria: these criteria describe how bidder proposals will be evaluated, including evaluation criteria and weights. For risk mitigation, the buyer may decide to sign agreements with more than one seller to mitigate damage caused by a single seller having problems that impact the overall project.

Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, project documents, and the project management plan; and communicating the decisions. This process reviews all requests for changes to project documents, deliverables, or the project management plan and determines the resolution of the change requests. The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated manner while addressing overall project risk, which often arises from changes made without consideration of the overall project objectives or plans. This process is performed throughout the project.

The Perform Integrated Change Control process is conducted from project start through completion and is the ultimate responsibility of the project manager. Change requests can impact the project scope and the product scope, as well as any project management plan component or any project document. Changes may be requested by any stakeholder involved with the project and may occur at any time throughout the project life cycle. The applied level of change control is dependent upon the application area, complexity of the specific project, contract requirements, and the context and environment in which the project is performed. Before the baselines are established, changes are not required to be formally controlled by the Perform Integrated Change Control process. Once the project is baselined, change requests go through this process. As a general rule, each project's configuration management plan should define which project artifacts need to be placed under configuration control. Any change in a configuration element should be formally controlled and will require a change request. Although changes may be initiated verbally, they should be recorded in written form and entered into the change management and/or configuration management system. Change requests may require information on estimated schedule impacts and estimated cost impacts prior to approval. Whenever a change request may impact any of the project baselines, a formal integrated change control process is always required. Every documented change request needs to be either approved, deferred, or rejected by a responsible individual, usually the project sponsor or project manager. The responsible individual will be identified in the project management plan or by organizational procedures. When required, the Perform Integrated Change Control process includes a change control board (CCB), which is a formally chartered group responsible for reviewing, evaluating, approving, deferring, or rejecting changes to the project and for recording and communicating such decisions.

Approved change requests can require new or revised cost estimates, activity sequences, schedule dates, resource requirements, and/or analysis of risk response alternatives. These changes can require adjustments to the project management plan and other project documents. Customer or sponsor approval may be required for certain change requests after CCB approval, unless they are part of the CCB.

(Acquire Resources)
Acquire Resources is the process of obtaining team members, facilities, equipment, materials, supplies, and other resources necessary to complete project work. The key benefit of this process is that it outlines and guides the selection of resources and assigns them to their respective activities. This process is performed periodically throughout the project as needed.

The enterprise environmental factors that can influence the Acquire Resources process include, but are not limited to:
• Existing information on organizational resources, including availability, competence levels, and prior experience for team resources and resource costs;
• Marketplace conditions;
• Organizational structure; and
• Geographic locations.

Quality audits. A quality audit is a structured, independent process to determine if project activities comply with organizational and project policies, processes, and procedures.

(Project Cost Management)
• Estimating and budgeting. Does the organization have existing formal or informal cost estimating and budgeting-related policies, procedures, and guidelines?
• Earned value management. Does the organization use earned value management in managing projects?
• Governance. Does the organization have formal or informal audit and governance policies, procedures, and guidelines?
• Continuous improvement. How will quality improvement be managed in the project? Is it managed at the organizational level or at the level of each project? This is considered for tailoring under the Project Quality Management process.

(Estimate Costs)
A cost estimate is a quantitative assessment of the likely costs for resources required to complete the activity. It is a prediction that is based on the information known at a given point in time. Cost estimates include the identification and consideration of costing alternatives to initiate and complete the project. Cost trade-offs and risks should be considered, such as make versus buy, buy versus lease, and the sharing of resources in order to achieve optimal costs for the project.

Cost estimates are generally expressed in units of some currency (i.e., dollars, euros, yen, etc.), although in some instances other units of measure, such as staff hours or staff days, are used to facilitate comparisons by eliminating the effects of currency fluctuations.

Cost estimates should be reviewed and refined during the course of the project to reflect additional detail as it becomes available and assumptions are tested. The accuracy of a project estimate will increase as the project progresses through the project life cycle. For example, a project in the initiation phase may have a rough order of magnitude (ROM) estimate in the range of −25% to +75%. Later in the project, as more information is known, definitive estimates could narrow the range of accuracy to −5% to +10%. In some organizations, there are guidelines for when such refinements can be made and the degree of confidence or accuracy that is expected.

Costs are estimated for all resources that will be charged to the project. This includes, but is not limited to, labor, materials, equipment, services, and facilities, as well as special categories such as an inflation allowance, cost of financing, or contingency costs. Cost estimates may be presented at the activity level or in summary form.

(Project Schedule)
Also known as Gantt charts, bar charts represent schedule information where activities are listed on the vertical axis, dates are shown on the horizontal axis, and activity durations are shown as horizontal bars placed according to start and finish dates. Bar charts are relatively easy to read and are commonly used. Depending on the audience, float can be depicted or not. For control and management communications, the broader, more comprehensive summary activity is used between milestones or across multiple interdependent work packages and is displayed in bar chart reports.

Key concepts for Project Resource Management include the following:
• Project resources include both physical resources (equipment, materials, facilities, and infrastructure) and team resources (individuals with assigned project roles and responsibilities).
• Different skills and competences are needed to manage team resources versus physical resources.
• The project manager should be both the leader and the manager of the project team, and should invest suitable effort in acquiring, managing, motivating, and empowering team members.
• The project manager should be aware of team influences such as the team environment, geographical location of team members, communication among stakeholders, organizational change management, internal and external politics, cultural issues, and organizational uniqueness.
• The project manager is responsible for proactively developing team skills and competences while retaining and improving team satisfaction and motivation.
• Physical resource management is concentrated on allocating and utilizing the physical resources needed for successful completion of the project in an efficient and effective way. Failure to manage and control resources efficiently may reduce the chance of completing the project successfully.

One of the most common challenges in project management is determining whether or not a project is successful. Traditionally, the project management metrics of time, cost, scope, and quality have been the most important factors in defining the success of a project. More recently, practitioners and scholars have determined that project success should also be measured with consideration toward achievement of the project objectives.
Project stakeholders may have different ideas as to what the successful completion of a project will look like and which factors are the most important. It is critical to clearly document the project objectives and to select objectives that are measurable. Project success may include additional criteria linked to the organizational strategy and to the delivery of business results.

Total float. The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.

(Precedence Diagramming Method)
The precedence diagramming method (PDM) is a technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed.

(Project Resource Management)
• Diversity. What is the diversity background of the team?
• Physical location. What is the physical location of team members and physical resources?
• Number of team members. The number of team members should always reflect the overall work that needs to be completed in order to meet the project objectives. It is not a primary focus of tailoring activities.
• Life cycle approaches. What life cycle approach will be used on the project?

The Project Stakeholder Management processes are as follows:
13.1 Identify Stakeholders—The process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interests, involvement, interdependencies, influence, and potential impacts on project success.
13.2 Plan Stakeholder Engagement—The process of developing approaches to involve project stakeholders based on their needs, expectations, interests, and potential impacts on the project.
13.3 Manage Stakeholder Engagement—The process of communicating and working with stakeholders to meet their needs and expectations, address issues, and foster appropriate stakeholder engagement involvement.
13.4 Monitor Stakeholder Engagement—The process of monitoring project stakeholder relationships and tailoring strategies for engaging stakeholders through the modification of engagement strategies and plans.

Business case. A documented economic feasibility study used to establish validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.

Complexity as a characteristic or property of a project is typically defined as:
• Containing multiple parts,
• Possessing a number of connections among the parts,
• Exhibiting dynamic interactions among the parts, and
• Exhibiting behavior produced as a result of those interactions that cannot be explained as the simple sum of the parts (e.g., emergent behavior).

What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.