1). wait()

2). inserting Synchronization point.

2 types: 1. wait()
         2. Synchronization point

1. Wait(): pause the test for fixed time specified in the 
wait statement.

2. Synchronization point: To define the time mapping 
between the QTP and application, we use this concept. If we 
dont want to perform any operation until an object in our 
application achieves certain status then we can insert 
synchronization point to instruct QTP to pause the test 
until the object getting the certain value.

Wait
synchronization pt.
exists.

In QTP Synchronization can be inserted in three different 
ways:

1- Synchronization Point
2- Increasing Default Checkout Time
3- Wait statement

I think u have understand the Synchronization Point and 
Wait statement but u can also sync by increasing the 
default checkout time when u insert a checkpoint.