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PMP Formula of the Week: Point of Total Assumption

Article | Aug. 10, 2015

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...

PMP Formula of the Week: Rent, Lease or Buy?

Article | Aug. 17, 2015

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?

PMP Formula of the Week: Confidence Level

Article | Nov. 02, 2015

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?

Benefits of an “Agile” Mindset

Article | Nov. 24, 2015

Projects are a social endeavor. Traditional project management approaches have shied away from the social advantages a more agile project environment brings. By nature, we are storytelling, pattern seeking and social people. We need colocation to shine truly in a project environment.

The Tools and Techniques Useful in Quality Planning, Assurance and Control

White Paper | March 29, 2016

When creating products, providing services and achieving results, consistency is the goal of quality management. This white paper gives you a basic overview of the tools and techniques you need for quality planning and quality assurance. Learn which resources help you to evaluate programs, prioritize objectives or discover problem areas. Featured within this white paper are Kaoru Ishikawa’s seven quality tools which include flowcharts, histograms and cause-and-effect diagrams. 

PMBOK Guide 6th Edition: A Deep Dive into the Changes

Article | Dec. 02, 2016

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?

3 Project Manager Skills to Improve Project Team Success

Article | April 04, 2017

The question of how a project manager working in a functional or matrix organizational structure gets team members to perform is asked in almost every project management class I have taught.

What is Project Quality Management?

Article | April 10, 2017

Project quality management is the process of determining the quality standards that are applicable to a project and devising a way to satisfy them. Learn more here.

What is Project Quality Management?

Article | April 10, 2017

Modern quality management and project management are complementary. They both emphasize customer satisfaction and the underlying belief that quality leads to customer satisfaction. The main objective in quality management is making sure that the project meets the needs it was originally created to meet—nothing more, nothing less. In other words, to ensure quality, you must meet the needs of the stakeholder.

Top 10 Business Analysis Terms

Article | June 15, 2017

Whether you are just getting started in business analysis or want to gain a better understanding of certain aspects of business analysis, we have compiled a list of frequently used terms to help you get started.