In this episode we will review over 40 project management acronyms that are used in business quite frequently. 

Most of these are especially used in predictive and hybrid environments with heavy process involvement. 

Drawing a blank on some of these could be an indicator that there are gaps to close before your professional project management exam! 

MAIN SITE: www.praizion.com Praizion Media specializes in project management education and professional development. Please visit: www.praizion.com for project management and PMP Exam training materials.

1. AC = AC actual cost

2. BAC = budget at completion

3. CCB = change control board

4. COQ = cost of quality

5. CPAF = cost plus award fee

6. CPFF = cost plus fixed fee

7. CPI = cost performance index

8. CPIF = cost plus incentive fee

9. CPM = critical path method

10. CV = cost variance

11. EAC = estimate at completion

12. EF = early finish date

13. ES = early start date

14. ETC = estimate to complete

15. EV = earned value

16. EVM = earned value management

17. FF = finish-to-finish

18. FFP = firm fixed price

19. FPEPA = fixed price with economic price adjustment

20. FPIF = fixed price incentive fee

21. FS = finish to start

22. IFB = invitation for bid

23. LF = late finish date

24. LOE = level of effort

25. LS = late start date

26. OBS = organizational breakdown structure

27. PDM = precedence diagramming method

28. PMBOK = Project Management Body of Knowledge

29. PV = planned value

30. QFD = quality function deployment

31. RACI = responsible, accountable, consult, and inform

32. RAM = responsibility assignment matrix

33. RBS = risk breakdown structure

34. RFI = request for information

35. RFP = request for proposal

36. RFQ = request for quotation

37. SF = start-to-finish

38. SOW = statement of work

39. SPI = schedule performance index

40. SS = start-to-start

41. SV = schedule variance

42. SWOT = strengths, weaknesses, opportunities, and threats

43. T&M = time and material contract

44. WBS = work breakdown structure

45. VAC = variance at completion

7 MYTHS about the PMBOK Guide SEVENTH Edition

The PMBOK Guide 7th Edition is surrounded with controversy and polarization, but some things are just FLAT OUT FALSE!

Let's take a look at these myths and dispel them right away!

New 2021 Exam? 

Sign up: http://projectmanagementmasterclass.com

Other courses: 

http://praizion.com

Podcast:

https://open.spotify.com/show/46uJBmlSRnQzzrkKpNyZ9Z

Conflict:  https://www.youtube.com/watch?v=aIhe6TXGkgY

Online Agile Training for PMP Exam: https://vimeo.com/ondemand/agilepmp

MAIN SITE: www.praizion.com

Praizion Media specializes in project management education and professional development. Please visit: www.praizion.com for project management and PMP Exam training materials.

In this episode, we will discuss the role of the product owner.

Reference:

https://scrumguides.org/scrum-guide.html#product-owner

https://www.agilealliance.org/glossary/product-owner

Taking the PMP Exam in 2021? Sign up for our boot camp:

http://www.projectmanagementmasterclass.com/

Main site: http://praizion.com

In this episode, we will talk about problem solving using an approach I coined as "DIGCIV".

Another banger from the PMI which is not talked about enough!

Let's examine these steps and how you can apply this to real world and the exam.

PMP Exam Content Outline (People) - Days to The Exam

Here are some ideas about how to perceive the 14 tasks of the People Domain.

The Logic and Reasoning explained in this video can be found in this image:

https://tinyurl.com/pmbok7pentagon

PMBOK Guide 7th Ed....One of the MOST POLARIZING publications from Project Management Institute. How should one think about the SEVENTH EDITION and use it alongside the SIXTH EDITION and the AGILE PRACTICE GUIDE?

This video lends some ideas and my unique perspectives using the contraption I call "Process Group Pentagon" ⬠ ⭓ ⭔ ⬟

https://youtu.be/q1UFc65F510

#projectmanagement #agile #changemanagement #pmbok7 #pmbokguide #pmbokguide7thedition 

Many are confused about how to use the 6th and 7th addition! Have knowledge areas gone away? Have process groups gone away? How should we think about this? This webinar will answer all those questions and more. 

DOWNLOAD PMBOK GUIDE 7TH EDITION HERE: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok... (You must log in as PMI member first)

# Learn what is new in the PMBOK Guide in a lot of detail!

# Know how to navigate the PMBOK Guide 7th Edition and know what changed.

# Use it to augment existing methods.

# Train your PMO on what is new

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Being a PMP should one ignore future PMBOK Guide editions? One could, but to me, its my professional responsibility, first about being able to help people make sense out of the Guide and to know what is new.

Those PMP certified are leaders who need to be able to speak to those very questions you talk about even if they are not teaching PMP courses formally. When a new PMBOK Guide comes out, people are seeking direction from us certified PMPs and trying to navigate it.

Instead of spending 10 hours reading the book immediately, discussions like this help understand what is new so we can explain the ins and outs to beginners. Many new PMPs are in leadership positions and their management expects them to be able to guide and explain to others what is new. So it is less about you as an individual and more about them. Without the 7th edition we could still ace projects!

There is a ton of new information in the 7th edition and although its going on 2 decades, there is stuff in there new to me and others despite having read so many of PMI's standards.

MAIN SITE: www.praizion.com

Praizion Media specializes in project management education and professional development. Please visit: www.praizion.com for project management and PMP Exam training materials.

I recorded this podcast for my friends who are taking the PMP exam.

Trust me I know what it means because I've been there done that. I have over 10 professional certifications in project management and those feelings of dread, doom and gloom never go away until you are in the right zone of thinking mentally.

You need to constantly tell yourself I will ace this exam! I will do this! And the intent of this broadcast is for you to listen to it one hour to your exam and pump up yourself to the right mental attitude! I applaud you and I look forward to the great news of your success. Congratulations!

Check out more at www.praizion.com

5 Steps to PMP Exam Certification, Knowledge Areas, Process Groups and SCRUM!

Step 2 is Go / No-Go. Which one should you decide on? Let's review the options!

Watch the video for this audio too:

https://www.youtube.com/watch?v=817cE9HFnJY

Taking the new 2021 Exam?  

Sign up: http://projectmanagementmasterclass.com 

Other courses:  http://praizion.com

Extensive coverage of PMBOK Guide Chapter 3 with Drama and Entertainment & jokes!

An excerpt from the project management audio digest: 

The ROLE of the Project Manager!

Find the other episodes here

Main link:

https://store.payloadz.com/details/2569050-audio-books-business-and-money-project-management-audio-digest-pmbok-guide-sixth-edition.html

Sima our Latest PMP BOSS LADY (July 2021) Shares Lessons Learned

Enjoy and be inspired to ace Your Exam! Congrats in advance PMP2B! You can do it!