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A work-breakdown structure ( WBS) [2] in project management and systems engineering is a deliverable -oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown ...
An Introduction to the Risk Breakdown Structure. When planning a project to meet targets for cost, schedule, or quality, it is useful to identify likely risks to the success of the project. A risk is any possible situation that is not planned for, but that, if it occurs, is likely to divert the project from its planned result.
An organizational chart, also called organigram, organogram, or organizational breakdown structure ( OBS ), is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. The term is also used for similar diagrams, for example ones showing the different elements of a field of ...
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. [1] This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. [2] The secondary challenge is to optimize the ...
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 ...
e. The MECE principle, ( mutually exclusive and collectively exhaustive) is a grouping principle for separating a set of items into subsets that are mutually exclusive (ME) and collectively exhaustive (CE). [1] It was developed in the late 1960s by Barbara Minto at McKinsey & Company and underlies her Minto Pyramid Principle, [2] and while she ...
Budgeted cost of work scheduled – (BCWS) the approved budget that has been allocated to complete a scheduled task (or Work Breakdown Structure (WBS) component) during a specific time period. Constructability – is a project management technique to review the construction processes from start to finish during pre-construction phase.
Project network. A project network diagram is a graph that displays the order in which a project’s activities are to be completed. Derived from the work breakdown structure, the terminal elements of a project are organized sequentially based on the relationship among them. It is typically drawn from left to right to reflect project chronology.