- Project Management Terms
- Agile - The Definition of Continuous Change
- Servant Leadership - A Key Leadership Style in Agile
- 6 Steps to making reasonable decisions
- What is the BOSCARD method
- PEST Analysis: How Political, Economic, Social, and Technological Factors Impact Your Business
- 49 Processes in Project Management
- What is Aggregate Planning in Project Management?
- 25 PMP Formulas you must remember to pass the PMP exam
- Example with formulas Earned Value, Cost Variance and Schedule Variance
- Example with formular Cost Performance Index (CPI), Schedule Performance Index (SPI) and Estimate at Completion (EAC)
- Example with formulas Beta Value in PERT, Expected Monetary Value (EMV) and Risk Priority Number
- Example with formular Variance at Completion, Estimate to Complete (ETC) and To Complete Performance Index (TCPI)
- Example with formular Standard Deviation, Communication Channels and Cost plus Percentage of Cost
- Example with formular Cost plus Fixed Fee, Cost plus Award Fee and Cost plus Incentive Fee
- Example with formular Return on Investment (ROI), Payback Period and Cost Benefit Ratio
- Example with formular Present Value (PV), Future Value (FV), Target Price and Point of Total Assumption
- Kanban Board - Agile Project Chart
- Gantt Chart - Roadmap Project Chart
- What is a Timeline View in Project Management?
- PERT Chart - The Most Popular Project Management Diagram
- Work-Breakdown Structure (WBS) Chart
- Flowchart in Project Management
- Cause-Effect Project Charts - Fishbone Diagram
- Burn-up and Burn-down Project Charts
- Bar Chart in Project Management
- What is Pareto Chart
- What is Pie Chart
- What is Control Chart
- What is Matrix Diagram
- What is Critical Path Diagram
- What is Cumulative Flow Project Chart
- What is Enterprise Environmental Factors
- What is Arrow Diagramming Method (ADM)
- What is Cost Baseline
- What is Cost-Benefit Analysis
- What is Cost Engineering?
- What is Cost Management Plan
- What is Cost of Quality?
- What is Cost Overrun?
- What is Cost Performance Index?
- What is Cost Plus Fixed Fee Contract?
- What is Cost Plus Incentive Fee Contract?
- What is Cost Plus Percentage Of Cost Contract
- What is Cost Reimbursable Contract?
Burn-up and Burn-down Project Charts
What are Burn-up and Burn-down Project Charts? Burn-up and Burn-down Project Charts are graphical representations of the progress of a project over time. Both charts show how much work has been completed over time and how much work is remaining. The main difference between the two charts is how they depict progress - Burn-up charts show the total amount of work completed over time, while Burn-down charts show the remaining work over time.
Pros of Burn-up and Burn-down Project Charts:
- Provides a clear understanding of project progress: Both Burn-up and Burn-down charts provide a clear and visual understanding of the progress of a project, which can help project teams to identify potential issues and to adjust their plans accordingly.
- Facilitates communication: Burn-up and Burn-down charts can be easily shared with all team members and stakeholders, which facilitates communication and transparency throughout the project.
- Helps with tracking progress: Both Burn-up and Burn-down charts help project teams to track progress against the planned timeline and to adjust their plans if necessary.
Cons of Burn-up and Burn-down Project Charts:
- Can be overly simplistic: Burn-up and Burn-down charts may not capture all of the complexities of a project, which can make it difficult for project teams to fully understand the progress of the project.
- May not account for unforeseen events: Burn-up and Burn-down charts may not account for unforeseen events that can impact the progress of a project, such as changes in scope or unexpected delays.
- Can be misleading: Burn-up and Burn-down charts can be misleading if not properly interpreted. For example, a team may complete a large amount of work early in the project, which may make it appear as if the project is ahead of schedule, but if subsequent work takes longer than anticipated, the project may still end up being behind schedule.