NUANCES

It’s the little details that are vital. Little things make big things happen.

– John Wooden

Sloping lines

There are many terms in the PMBOK® Guide that are easily confused with each other as they have a thin line of difference between them. e.g. Analogous and Parametric Estimating; Work performance data and Work performance information. They get especially tricky to distinguish when they are present as options in the same question. Also performance pressure during the 4 hours of PMP exam might lead to confusion in selecting the correct answer.

Mastering these terms may give you an edge to help you achieve “Proficient” rather than “Moderately” Proficient in the 5 Process Groups in the PMP exam. Will that not be Great? It’s all in the “Winning Plan for PMP”

So… keep calm and read the following nuances that we are in the process of developing!!

The terms listed below are the ones the authors found during their reading. This list is not exhaustive as you might find more terms like these during your study. Make sure that you note all those terms and look up their meaning on the internet, PMBOK® Guide or your reference guide.

  1. Activity vs Work Package
  2. Administrative Closure vs Contract Closure
  3. Analogous Estimating and Parametric Estimating
  4. Change Control vs Configuration Control
  5. Change Control vs Perform Integrated Change Control
  6. Close Phase vs Close Project
  7. Contingency Reserves and Management Reserves
  8. Control Account vs Code of Account
  9. Control Account vs Planning Package
  10. Control Account vs Work Package
  11. Cost Plus Fixed Fee (CPFF) vs Firm Fixed Price (FFP) Contract
  12. Cost Plus Incentive Fee (CPIF) vs Fixed Price Incentive Fee (FPIF) Contract
  13. Cost-Benefit Ratio vs Benefit-Cost Ratio
  14. Crashing vs Fast tracking
  15. Create Work Breakdown Structure (WBS) vs Decomposition
  16. Critical Path Method and Critical Chain Method
  17. Discrete Effort vs Apportioned Effort vs Level of Effort
  18. Earned Value Management (EVM) vs Expected Monetary Value (EMV)
  19. Earned Value vs Actual Cost
  20. Earned Value vs Planned Value
  21. Enhance vs Exploit
  22. Enterprise Environmental Factors and Organizational Process Assets
  23. Estimate at Completion (EAC) vs Estimate to Complete (ETC)
  24. Fallback Plan vs Workaround
  25. Fast tracking and Crashing
  26. Focus Groups and Facilitated Workshops
  27. Forward Pass vs Backward Pass
  28. Free Float and Total Float
  29. Functional Organization vs Projectized Organization
  30. Grade vs Quality
  31. Histogram vs Pareto Chart
  32. Inspection and Audits
  33. Known Unknown vs Unknown Unknown
  34. Lead vs Lag
  35. Logical Relationship vs Precedence Relationship
  36. Precision and Accuracy
  37. Project Buffer vs Feeding Buffer
  38. Project Charter and Project Scope Statement
  39. Project Life Cycle vs Product Life Cycle
  40. Project Management Plan vs Project Documents
  41. Project Performance Appraisal vs Team Performance Assessment
  42. Project schedule and Schedule Baseline
  43. Project Scope vs Product Scope
  44. Quality Assurance and Control Quality
  45. Quality Metrics and Quality checklists
  46. Residual Risk vs Secondary Risk
  47. Resource Leveling and Resource Smoothing
  48. Responsibility Assignment Matrix and Requirements Traceability Matrix
  49. Risk Threshold vs Risk Tolerance
  50. Rolling Wave Planning and Prototypes
  51. Statement of Work (SOW) and Project Scope Statement
  52. Type X and Type Y Herzberg theory
  53. Validate Scope and Control Quality
  54. Validation vs Verification
  55. Verified Deliverables and Accepted deliverables
  56. Work Performance Data, Work Performance Information and Work Performance Reports

Have more nuances on your mind…. write to us or mention in comments below

Further on the importance of NUANCES… continue reading in ‘Winning Plan for PMP’

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