• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Project Management Knowledge

Simply explained by a PMI-certified Project Manager

  • Home
  • Acronyms and Abbreviations
  • Definitions
  • About the Author
  • Deutsch
  • Show Search
Hide Search
You are here: Home / Definitions / R / Regression Analysis

Regression Analysis

Project managers need to make sense on the many data that they have. Analytical tools are used in project management to achieve such need. Such tools are used to create a forecast of potential outcomes based on the variations present in the environmental and project variables. There are different types of analytical tools used and one of the most common tools is regression analysis.

The regression analysis is a technique that involves examining the series of input variables in relations to the corresponding output results. This particular project management technique is used in establishing the statistical relationship between two variables. It is used to determine whether one variable, the independent variable, is used to predict the dependent variable.

In regression analysis, the stronger the relationship is between the two variables, the greater the accuracy in predicting their relationship. Project managers can easily see the relationship between two variables by using a simple linear formula and plotting the results on a chart.

Using this tool provides project managers a clearer understanding on the relationship of two things. Used together with the other analytical tools, they can use information for the better decision-making.

This term is defined in the 5th edition of the PMBOK.

Related Articles:

 
  • Scatter Diagram  There are seven basic project management tools used in project management and one of these seven tools is the scatter...
  •  
  • Analytical Techniques  Project managers organize different resources like people, time, and money to create projects. In order to meet the requirements of...
  •  
  • Expected Monetary Value Analysis  The phrase expected monetary value analysis refers to a specific analytical technique in which a calculation is made to determine...
  •  
  • Decision Tree Analysis  A decision tree analysis is a specific technique in which a diagram (in this case referred to as a decision...
  •  
  • Network Analysis  See schedule network analysis. This term is defined in the 3rd and the 4th edition of the PMBOK. Get free...
  • Primary Sidebar

    Dear Visitor, I am a PMP (Project Management Professional), certified by the Project Management Institute since 2004. I have been managing dozens of projects, small and huge, successful and unsuccessful. This site is supposed to help you learn the required vocabulary of the project management world. Please feel free to check my certification status or to learn more about me.

    Copyright © 2021

    • Privacy Policy