... management, scope man-agement, time management, cost management, quality management, human resources management, communications management, risk management, and contracts and procurement management, ... Variable cost of project 4 8 12 16 20 24 Time in months 0 9618$$ INTR 09-06-02 14:58:36 PS14 Preparing for the ProjectManagementProfessional Certification Exam The Project Life Cycle Projects ... doing the project. At this phase of the project there is little known about the project. Project Processes In the Guide to the ProjectManagement Body of Knowledge, the basic project management...
... 09-06-02 14:59:01 PS56 Preparing for the ProjectManagementProfessional Certification Exam the start of the project and the finish of the project. An event is a project activity that has zero duration ... be determined by the cost of the project; but the cost of the project is a very real consideration in making sure that the project benefits are high enough to justify the cost. The scope baseline ... Preparing for the ProjectManagementProfessional Certification Exam ties can be used to facilitate this, or the relationships can be changed com-pletely. For example, suppose the project is to...
... the ProjectManagementProfessional Certification Exam Table 5-4. Worst-case and best-case situations. Risk Event Impact Probability Expected Value Project cost מ2,000,000 מ2,000,000 Project ... PS134 Preparing for the ProjectManagementProfessional Certification Exam manage the risk of the project. There are several inputs to the risk planning process. The overall project plan is a major ... man-agement of the project. Projects work best when the environment around them is organized in a way that is good for project management. The matrix organization is best for project management, ...
... the ProjectManagementProfessional Certification Exam Figure 7-2. Customer and supplier risk. Low Risk Customer High Risk FFP FPI FP + Award Cost Cost Sharing Cost + FF Fixed Price Cost ... the ProjectManagementProfessional Certification Exam Figure 8-1. The importance of communications management (survey of project managers). Which of the following do you consider important project ... PMP examination. They are from the ProjectManagementProfessional (PMP) Role Delineation Study, published by the ProjectManagement Insti-tute. Task 1 ‘‘Ensure individual integrity and professionalism...
... a project, a project manager takes on the responsibility of providing qualified professional service. No project manager should take on CHAPTER 10What Is the PMP Exam Like? The ProjectManagement ... influence on the PMP exami-nation. The ProjectManagementProfessional (PMP) Role Delineation Study was begun in 1999 to help define the roles and responsibilities of project management professionals. ... Team-Flyđ 222 Preparing for the ProjectManagementProfessional Certification Exam project reports to provide timely and accurate project status and decision support information...
... anticipated.It is the purpose of costmanagement to prevent this. Project Life Cycle and Project Cost Lately, it has become important to consider the cost of the project for thefull useful life ... Considering the cost ofthe project as delivered, the ‘‘spaghetti coded’’ project will be less costly.Considering the life cycle cost of the project, however, this approach will bemore costly. This ... be determined by the cost of the project; but the cost of the project is a very real consideration in making sure that the project benefits are high enough to justify the cost. The scope baseline...
... PROFESSIONAL RESPONSIBILITY1. Answer: cThere should be a change procedure in the project to handle changes that mightbe initiated by customers. The change procedure should include the cost ... speakto the stakeholders, but the project impacts and plan for the correction shouldcome first.6. Answer: cIt is usually in the best interest of the project if the project team decides mattersof ... change and the cost of developing the estimate for the effects ofthe change.2. Answer: cEstimating is just that, an estimating process. Perhaps it would have been betterfor the project manager...
... our project will be between two estimated values.For convenience, multiples of the standard deviation are used to markoff these ranges in values. The mean value of a project cost, for example, ... two possible outcomes.This particular distribution is of value in projectmanagement becausethere are many situations in risk management where there are two possibleoutcomes, success and failure.In ... 28.57%Beta DistributionThe beta distribution is used frequently in projectmanagement since itclosely resembles the phenomena in cost and scheduling. The beta probabil-ity distribution is bell...
... the project team who aredirectly involved in projectmanagement activities. On some smallerprojects, the projectmanagement team may include virtually all of the project team members. Project ... Principles of Management Science. Englewood Cliffs,NJ: Prentice-Hall. Project Management Institute. 2000. ProjectManagementProfessional (PMP)Role Delineation Study. Newtown Square, PA: ProjectManagement ... involved in the project. Project management software. A class of computer applications specifi-cally designed to aid with planning and controlling project costs andschedules. Project management team....
... nothing, there is no fixed cost. At some point in time, if theFigure 1-1. Break even chart.Total Cost Time0Fixed cost of project Variable cost of project Cost while notdoing project Break even ... means that projects that have a high early return will be favoredFigure 1-2. Example of a break even chart.Total Cost Time in months016 Fixed Cost of Project $200,000Variable cost of project $1.50 ... Preparing for the ProjectManagementProfessional Certification Exam lated for this project. It will also contain a brief business case showing thejustification for the project. The project charter...