TOPIC: Questions on few topic

Please clarify below terminologies used in PMP as there is a minute difference between few among them.
1)PMIS
2) Variance analysis
3)Earned Value analysis
4) Performance review
5)Performance measurement baseline
6) Trend analysis

VKG:

You will find the answers to your question in the Glossary to the PMBOK Guide.

Harry

Thanks Harry. I still need more clarity on these topics as i already read from PMBOK.
Can someone please describe in layman terms. Thanks

Anon:

The bad news is that the the Glossary is the layman's terms for the language of the profession. In order to practice in the field, you must be able to speak the language of the profession. The PMP exam will bring that out in very short order. Simply put, if you can't speak the professional language, you will probably not pass the exam.

Harry

Simple defintion(s):

PMIS - general term for the sofware tool that will house and distribute project information (think SharePoint).

Read PMBOK (pp. 685 - 694). Shows the tools broken down by Process Group.

Variance Analysis - generic term for determining variances (differences) between planned and actual performance. Used for schedule, cost, scope.

Earned Value analysis - a type of data analysis where you look at planned values, what you've actual done to date, and what it cost you to get there.

Performance review - how we measure work in progress to actual work.

Performance measurement baseline - abbreviated PMB - is just the integration of the cost, schedule and scope baselines into one metric. Used in earned value analysis.

Trend analysis - self-explanatory. How do you know if we are in a drought? You measure rain over time. Time is the key in trend analysis.