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Category Archives: PgMP
What is the Certificate of Completion?
Certificate of Completion The certificate of completion proves that the program/project manager and the vendor agree that the work is complete. The certificate of completion serves as an evidence that the vendor has completed his obligations to the program and … Continue reading
What is a Claim?
Claim A claim is a documented disagreement between the vendor and the buyer where one party (and sometimes both) disagrees with the conditions, performance, or payments. The contract should always have an escalation process defined should litigation between the parties … Continue reading
What is Monte Carlo simulation?
Monte Carlo simulation Monte Carlo simulation is a process for iteratively evaluating a deterministic form using sets of random numbers as inputs. This method is repeatedly used when the model is complex, nonlinear, or involves more than just a couple … Continue reading
What is Program Governance?
Program Governance Program governance defines the rules and procedures that the program manager is required to abide by in the program. The enforcement of the rules and procedures is also part of the governance process.
What is a Program Management?
Program Management In management terms, a program is a group of related projects. These projects are grouped to obtain benefits and control that is not available from managing them individually. Programs may include elements of related work outside of the … Continue reading
What is Program Management?
Program Management Program Management is the centralized, coordinated management of a program to achieve the program’s strategic objectives and benefits. Program management involves the management of all the co-ordinated projects within a program. Program management includes the following three key … Continue reading
What is the Role of Program Manager?
Role of Program Manager The prime role of a program manager is to interact with each project manager to provide support and guidance on the individual projects, as well as to convey the important relationship of each project to the … Continue reading
What is Program Charter?
Program Charter Program charter is an important document of a program. The program charter is responsible for the following activities: It formally authorizes the program. It provides the program manager with the authority to apply organizational resources to program activities. … Continue reading
What is Present Value?
Present Value Present value is the value on a given date of a future payment or series of future payments, discounted to reflect the time value of money. A dollar today is worth more than a dollar in the future, … Continue reading
What is Gold Plating?
Gold Plating Gold plating is a term that refers to adding features to the project scope in order to consume the entire project budget. It is considered a non-value added activity because the additions to the project scope are not … Continue reading