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Deep Fried Brain PMP CAPM PMI-ACP Certification Blog

  20 Common Project Risk Management Terms Explained

PMP Blogger Cooling Off on Beach
Image credit: Flickr / sektordua
I need a break from blogging to cool-off my brain, which as you rightly guessed, has got deep fried. I'm planning to go to Bali for vacation. I've heard it's a great place and I have never been there before. But, I need your help in planning my trip, and particularly on Risk Management. Let's first give this project a name. How about we call it "The Deep Fried Brain Project"? As we plan the trip, we are going to identify the risks involved in the project, analyze the risks and plan risk responses. Also during the course of planning, we are going to explore some common Project Risk Management terms and see how they fit into our project. I'm quite excited about this project and looking forward to your support. So, shall we begin?

Deep Fried Brain PMP CAPM PMI-ACP Certification Blog

  Deep Fried Brain - Just the Way You Like It !

Tell me honestly, do you like Deep Fried Brain? Would you like it to be served on a platter just the way you like it? I'm not talking about the real "Deep Fried Brain" as in a delicacy. Rather I'm referring to this site. Do you enjoy reading the content on this site? Do you wish that you could read the content, without all the clutter staring in your face? With that I mean just pure content, no ads, no links, no distractions. Well I sure do not wish to make this website look like a billboard with scantily clad models distracting the drivers (readers). But let's face it. First, the links help you, the visitors, get to the relevant information easily and quickly. Second, the ads help pay my smaller bills and keep this site going. As with everything else in life, we have to make some compromises.

But hey, what if we find a solution that provides the best of both worlds, a win-win situation? You get the content without all the distractions and I get to keep the site layout. Is that possible? Let's find out.

Deep Fried Brain PMP CAPM PMI-ACP Certification Blog

  Network Diagram with Finish-to-finish Dependency

Most Critical Path problems that PMP aspirants encounter involve Finish-to-start (FS) logical relationship. Last month I challenged you with a slightly unusual Critical Path problem, involving Finish-to-finish dependency. Even though (in my personal opinion), such problems are beyond the scope of PMP exam, they are still quite fun to work with. Four gallant project managers attempted to solve the problem. Though their solutions were not 100% correct, they came pretty close to solving it. It was quite a laborious activity and I really appreciate the effort and time they put into it. I know that you all are pretty eager to know the solution. So, let's dive in.

Deep Fried Brain PMP CAPM PMI-ACP Certification Blog

  Solving the Estimate At Completion (EAC) Puzzle

In an earlier post, we reviewed four formulas for Estimate At Completion (EAC) mentioned in the PMBOK Guide, Fourth Edition, and when to use each of them. Just when I thought I had it all covered, a keen reader published a question about another EAC formula that I had not mentioned. The formula was EAC = AC + (BAC - EV) / CPI. Sure enough, I didn't have it covered. If this formula isn't mentioned in the latest edition of PMBOK Guide, does it even exist or is it a work of imagination? Read the complete article to find the answer.

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