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The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received. The primary purpose ...
work breakdown structure, A work breakdown structure (WBS), in project management is a deliverable oriented decomposition of a project into smaller components. A Gantt chart is a type of bar chart, that illustrates a project schedule. Design structure matrix is a simple, compact and visual representation of a system or project in the form of a ...
For example, the construction industry, which focuses on the delivery of things like buildings, roads, and bridges, has developed its own specialized form of project management that it refers to as construction project management and in which project managers can become trained and certified. [17]
Total project control (TPC) is a project management method that emphasizes continuous tracking and optimization of return on investment (ROI). It was developed by Stephen Devaux. It was developed by Stephen Devaux.
An overview of EVM was included in the Project Management Institute (PMI)'s first Project Management Body of Knowledge (PMBOK) Guide in 1987 and was expanded in subsequent editions. In the most recent edition of the PMBOK guide, EVM is listed among the general tools and techniques for processes to control project costs.
A Guide to the Project Management Body of Knowledge — Sixth Edition provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. [9] and for the first time it includes an "Agile Practice ...