Technical Interview Questions
To determine what exactly is to be procured, ensure they are procured at the best price and is made available to the project team at the right time. The primary purpose of a procurement management plan is to outline the approach and strategies for acquiring goods and services required for a project. It serves as … Read more
In this type of contracts the contractor gets paid for time used on the project and expenses for material used and other agreed upon expenses. In project management, a time and material (T&M) contract is a type of agreement between a client and a contractor where the client pays for the actual time spent and … Read more
The seller must supply the contracted items at a fixed price determined at the time of contract. In project management, fixed-type contracts in procurement processes are agreements where the price and scope of work are predetermined and fixed before the project begins. These contracts are typically used when the scope of the project is well-defined … Read more
This is a statistical analysis method that helps decide priorities between several actions to be taken. The basis is that there are about 20% action which when executed gets you 80% of the results. In QA this is used to identify the 20% of causes that create 80% of the problems. The Pareto Principle, also … Read more
This is a graphical method of determining cause and effect relationships leading to a specific risk. One could then determine mitigation actions for that risk. In project management, Ishikawa diagrams, also known as Fishbone diagrams, are valuable tools for identifying the root causes of risks. Here’s how they play a role in determining root causes: … Read more