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You have to load the fully costed resources against your work packages in the sequence you laid them out in the network logic. Your scheduling tool will then calculate the PV based on how YOU loaded i …

You are correct that the two product outputs in the Initiation Process Group are the project charter and the stakeholder management plan. This suggests that it is performed only once and at the projec …

I would define the Change Control System as the entire capability that would include policies, process, and procedures; tools to include a tracking capability, forms, metrics; human resources that are …

You can calculate the expected monetary value (probability x financial impact) for those risks you identify in advance of proposal submission and add that to the price. The issue with this approach i …

The PMBOK doesn't discuss resisting change. It discusses scope creep and managing change. These two things are not the same. …

It does not matter the type of contract. All projects need to have a way to process changes because changes are a near certainty for every project in existence and will always be. The process does n …

A great option where cost risk is shared and where scope is largely defined is a cost plus fixed fee. In this case, both the seller and buyer are at risk for cost increases and therefore motivated to …

Customers prefer a FFP at times because of they believe it helps to control costs. In some ways it does; however, in many cases they end up paying more, either because of the contingency built in the …

Within PMBoK, you are using the processes under the Plan, Execute, and Monitor & Control process groups and within all 10 knowledge areas. …

The PMBoK is a body of knowledge guide. It is not even THE body of knowledge. It is not a methodology and it will not "tell" you what to do. … You will have to connect the dots because, again, the PMBOK is not designed to do that. …

Part of every project, no matter its size or complexity or industry, there is some level of effort--hours, dollars, people, tools, etc.--allocated for the pure purpose of managing the project. This i …

If you studied this book and are passing the tests with a reasonable score, you will / should pass the CAPM quite easily.

It is not possible. Folks are reporting on time and ignoring the metrics because they can't cope with bad news. Thinking about this a little more, I'd like to add this: SPI, as with the other EV i …

Crashing is simply the concept of throwing more resources--be it money, tools and machinery, humans, etc--at a work package in an attempt to decrease its overall duration. The general idea is, if you …

Absolutely keep logs and absolutely bring them to the surface and work them on a strict cadence. Especially risks. Without the logs, people will happily ignore them. There is a resistance in raisin …