Project Cost Management § important cost management/calculation terms: § sunk cost – cost already incurred in the past and cannot be recovered, do not consider any more § opportunity cost – difference in value between one path vs alternative…
Plan Schedule Management § Inputs: Project Charter, Project Management Plan, EEF, OPA § Tools & Techniques: Expert Judgement, Data Analysis, Meetings § Outputs: Schedule Management Plan § defines policies, procedures and documentation for managing and controlling project schedule …
Project Scope Management § The project manager would need to ensure the inclusion of all and only the work required to complete the project successfully (to achieve project objectives to deliver business values). § The primary aim of scope management…
Project Integration Management Project Integration Management encompasses all the process and activities to identify, define, combine, unify and coordinate all the various project management processes and activities and manage the interdependencies. § integration management is required when different project…
In a leisurely conversation with a friend about the ROI for an MBA versus PMP certification, I figured that US schools (alone) awarded approximately 100,000 MBA degrees in the year 2008. That number when put into a combined perspective with…
Hi Team, My regrets for late update since I was caught up with deadlines. The whole team is inspirational and we usually get a push every time each one you pass the exam and conquer the peaks. I’d like to…
At Education Edge in our PMP COURSE, we provide all the help in every aspect of PMP. Therefore we are now called The One Stop PMP shop. Here are the Guidelines for filling up a PMP application: Guidelines for filling…
Lately we have received so many inquiries from Project Managers that are in a panic to pass the PMP Exam before it changes to align with the new PMBOK6. For anyone who has attempted the exam recently or is in…
Knowledge Area #10 – Stakeholder Critical Highlights: • stakeholders are groups/individuals who may affect / be affected by the project • identify stakeholders is a continually process throughout the project lifecycle • identify stakeholders, communicate and engage them, manage expectations and focus on satisfaction • stakeholder…
Knowledge Area #9 – Procurement Critical Highlights: • Procurement Statement of Work (SOW) is a legal document subject to legal reviews, legal advise should be sought throughout the whole procurement process • sellers are external to the project team • need to go through all…
Knowledge Area #7 – Risk Critical Highlights: • Risk identification, management and response strategy impacts every area of the project management life cycle • everyone is responsible for identifying risks • Risk has one or more causes and has one or more impacts • Risk…
Knowledge Area #7 – Communication Critical Highlights: • Assure the timely collection, generation, distribution, storage, retrieval and ultimate disposition of project information • Very important to the ultimate success of the project • Message transmission: 7% in word, 38% in vocal pitch, 55% in body language (Albert Mehrabian)…
