Pareto Analysis-Pareto Analysis is a decision-making technique based on the concept that 80% of the effects measured come from 20% of the causes. By using this technique, the project manager can help the project team know where to focus resources in order to have the greatest desired effects. Discover actionable strategies to streamline your processes with Elevate Optimize.
Parametric Estimation- Parametric Estimation is an estimation technique used to determine task duration. This technique involves using historical or current data and project variables to determine the effort, cost, and/or duration of a task. For example, if a carpet cost $X to install per square foot and the area that needs carpet is Y square feet, then the project team can estimate the cost of installing the carpet to be Z. Enhance your estimation accuracy with tools and guidance from Elevate Metrics.
Payback Period- The payback period is the time it takes for a project to generate enough revenue to cover the initial cost of the project. It focuses on the break-even point versus profitability, helping stakeholders decide on investments with the quickest returns.
Performance Reporting- Performance Reporting involves the project team reporting on metrics used to determine the success of a project or its components, such as quality testing performance and project status updates.
Performance Measurement Baseline- A Performance Measurement Baseline serves as a starting point for determining overall project performance, including scope, schedule, budget, and success metrics.
PERT (Program Evaluation and Review Technique) Analysis- PERT Analysis documents, schedules, and reviews project tasks, often using a visual chart to represent dependencies. Plan and execute projects seamlessly with support from Elevate Blueprint.
Phase Exit Criteria- Phase Exit Criteria are specific requirements, such as KPIs, deliverables, and objectives, that must be met to close out a phase and move to the next.
Phase Gate- Phase Gate, or stage gate, is a pre-defined point where the project team evaluates specific criteria before proceeding to the next phase.
Plan-Do-Check-Act (PDCA)- PDCA is a continuous improvement framework encompassing planning, execution, review, and adjustment phases. Empower your team to adopt continuous improvement practices with Elevate Drive.
Portfolio Management- Portfolio Management oversees a collection of projects and programs to achieve strategic results, ensuring resource optimization and risk mitigation. Optimize resource allocation and achieve strategic alignment with Elevate Vision.
Post-Mortem- A Post-Mortem reviews project phases after execution to assess successes and areas for improvement. Turn insights into action with post-project evaluation tools from Elevate Metrics.
Predecessor Relationship- A Predecessor Relationship defines task dependencies, establishing what must be completed before subsequent tasks. Improve scheduling accuracy with dependency tracking tools from Elevate Integrate.
Predictive Project Management- Predictive Project Management, or “Waterfall,” is a traditional methodology where most work is planned upfront.
Present Value (PV)- Present Value calculates the current worth of future cash flows or investments, accounting for inflation and time value. Assess financial value effectively with tools and insights from Elevate Insights.
Process Analysis- Process Analysis identifies inefficiencies and potential improvements in workflows, addressing root causes for focused solutions. Uncover and resolve bottlenecks with operational optimization guides from Elevate Optimize.
Process Mapping- Process Mapping visually depicts workflow steps, providing clarity for planning and execution.
Process Performance Metrics- These metrics measure process effectiveness and efficiency, such as quality, productivity, and cycle times. Monitor performance effectively with KPI dashboards from Elevate Metrics.
Procurement Management Plan- This plan outlines resource acquisition processes during the project lifecycle.
Product Backlog- A Product Backlog prioritizes project requirements and enhancements, evolving as the project progresses. Prioritize effectively with project planning tools from Elevate Blueprint.
Final Thoughts
Whether you’re improving quality management, refining risk strategies, or optimizing workflows, having the right tools is essential. Take the next step toward success by exploring our Elevate Product Line to find the right fit for your project management needs!