Rapid Fire on Project Management

Triple constraint triangle or project management triangle is a constraint model where scope, schedule and cost are constraints forming the sides of a triangle, with quality as the central theme. In project management, the Triple Constraint Triangle, also known as the Project Management Triangle or Iron Triangle, represents the three primary factors that must be … Read more

You must always show your enthusiasm to the interviewer, but also be honest. If you feel that you can handle more projects than one, then say that you prefer multiple projects. The correct answer to this question would depend on the individual’s personal work style, preferences, and the specific requirements of the role or project … Read more

It is the best technique to develop estimates for your project. There are three steps: Identify the positive and negative risks involved in the project Then make three estimates — Best Guess (BG), Pessimistic (P), and Optimistic (O) estimates The final step is to calculate the mean and standard deviation using the formulas: (O+4BG+p)/6 and … Read more

It is a decision-making technique through which by doing 20% of the work you produce 80% of the desired result. The Pareto Principle, also known as the 80/20 rule, is a concept used in various fields including project management. It suggests that roughly 80% of the effects come from 20% of the causes. In project … Read more

DSS is a software system that helps in the decision making process in project management. There are two types of DSS: structured and unstructured. A Decision Support System (DSS) is a computer-based information system that supports business or organizational decision-making activities. It provides analytical tools and information to help managers and decision-makers make more informed … Read more