Resource Library

You are estimating the total project cost using three points for cost estimates with a 95 percent confidence level. What is the cost estimate range if the estimated project cost is $120,000 and the standard deviation is $2,500?

You are the project manager on a construction project where you are deliberating between renting, leasing or purchasing a large piece of equipment. Equipment pricing: Rent at a cost of $2,500 per day; Lease for a 60 day period at $2,500 per day, with a 10% discount; Purchase at a price of $100,000. By looking at your project schedule, you have estimated that you will use the equipment about 50 to 60 days. Based only on price, which decision would you recommend?

Your organization and a seller have just agreed to a contract with a total cost of $150,000, an estimated profit of $10,000, buyer/seller sharing of 70/30 and a ceiling price of $170,000. What is the PTA (point of total assumption)? A. $170,000 B. $160,000 C. $164,2...

In this blog series, we'll get you up to speed on using the key tools listed in the PMBOK® Guide, including Decision Tree Diagrams.

In this blog series, we'll get you up to speed on using the key tools listed in the PMBOK® Guide. First up, Work Breakdown Structure (WBS).

Young adults unable to find work, employers unable to fill jobs, a recent GAO study that reported substantial declines in telecommunication expertise — there has been a lot of news about the pervasiveness of skills gaps, their causes, the actual impacts and what to do about them. It’s rather confusing, because the term “skills gaps” has been hijacked to politicize an extremely wide range of issues.

In this series, we are looking at six things that can trip up project managers. We’ve covered the hazards of overcommitting, how to provide feedback, the importance of taking responsibility, staying focused, and what leading from the front can actually look like. Finally, we’ll take a look at handling team input.

Communication is vital within projects and contributes significantly to project success. PMs and BAs have important—and different—roles. Let's take a look.

Now that we have looked at the similarities and differences between the first two steps of the military decision-making process (MDMP) and the project management processes from the planning process group that align with them, it’s time to take a look at the third ste...

For a project manager (PM) who has served as a military officer on a battalion or higher staff, the parallels between the military decision-making process (MDMP), the orders production process, and project management doctrine prescribed by the Project Management Institute (PMI) are difficult to ignore. Both the MDMP and the processes outlined in A Guide to the Project Management Body of Knowledge—Fifth Edition (PMBOK® Guide) are iterative in nature, allow for the introduction of changes to the original plan, assign tasks and responsibilities, and involve the concept of managing the scope of the operation or project.