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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...

A strong event management process that is able to detect changes of state throughout an organization’s IT environment is a key aspect of a complete suite of service management processes. Event management ultimately helps an organization maintain control through an understanding of the state of things, and how the state of those things changes in an IT environment.

Event management, although theoretically different, is fundamentally what most IT organizations refer to as “monitoring.” Monitoring an organization’s environment to determine whether important assets are in the state they should be, and knowing when that state changes, is a very important activity that many organizations spend significant portions of their budget doing.

If any of the following reminiscences ring true to you, have you moved beyond them? If not, it might be time to make some new discoveries.

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.