PMP aspirants often come across the 3 Point Estimate when studying for the PMP exam for the first time. There are 2 different formulas for the 3 Point Estimate, and it is generally not clear to most project managers as to which one to use, and when, or why. I have written about the 3 … Read more
“I failed the PMP exam today. It is really unbelievable. I thought I did well on the exam. I was able to finish on time. I have 8 years of project management experience, and have never failed any exam. Yet, I got only one area as Moderately Proficient, and Below Proficient in all other areas. … Read more
The performance of the project, and the project manager needs to be measured. If there is no baseline or benchmark, then there is no way to know if the project manager did a good job or not? We need to have a clear target or goal to achieve, so that we can compare it with … Read more
Some time back, we covered the Cost Plus Incentive Fee Type of Contract Calculations, which is a “must know” for the PMP exam. Also watch the video on How to Answer Contract Type Questions for PMP exam. In the recent past, there have been many questions coming from a relatively unknown term – Point of … Read more
By Vinai Prakash One of my PMChamp PMP Coaching Workshop students, Locksley asked me an interesting question regarding contract calculations. Most questions in the PMP exam from the Procurement Management Knowledge Area are about the different types of contracts, and choosing the best type of contract in a particular situation. But this one was different… … Read more
By Vinai Prakash Many PMP Questions from the Procurement Management Knowledge Area focus on the different Contract Types. However, many project managers have never worked in Procurement/Contracts/External Vendors, and they find such questions quite tough. I have now created a complete Video post about the different Key Contract Types that you must know about for … Read more
By Vinai Prakash Many calculation type PMP questions are pretty straight forward. All you need to know is the right formula, and have a good understanding of the basic concepts to apply the formula in the right way. In the first part of the series, I talked about the Three Point Estimate Questions. Today, I … Read more
By Vinai Prakash First of all, thanks to all of you who took part in the mini survey, and helped me assess in what way can I help you to prepare for the PMP exam. If you haven’t done it yet, appreciate if you could take a minute, and take the survey at http://www.surveymonkey.com/s/F87827Z Many … Read more