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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.
Project Scope Management sets the foundation for the creation, development and successful delivery of a project. Learn about the project management process here.
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...
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?
Quality, as we know it today, is an accumulation of several concepts that together create a comprehensive approach to quality. The views of quality, as described in A Guide to the Project Management Body of Knowledge (PMBOK® Guide) and tested on the PMP® exam, focus primarily on the work of three major contributors: W. Edwards Deming, Joseph M. Juran and Philip B. Crosby.
Are you prepping for the PMP exam? What should you know about the impending new edition of A Guide to the Project Management Body of Knowledge PMBOK® Guide before scheduling your examination?
Communication is vital within projects and contributes significantly to project success. PMs and BAs have important—and different—roles. Let's take a look.
According to the Global Knowledge IT Skills and Salary Report, women make up 16% of the tech workforce, and an even smaller percentage (8%) are at the senior or executive level. Here’s an overview of the most popular and most pursued certifications by women in tech.
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...