This lesson is the introduction and overview to the Project Cost Management Knowledge Area.
We review the definition, glance at the four processes (Plan Cost Management, Estimate Costs, Determine Budget and Control Costs), and we discuss trends, agile and tailoring considerations for the knowledge area.
We answer
the question "When can you estimate the cost of a project with 100% precision?".
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Valid Through August 31, 2018 |
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Two-Day Live PMP® Coaching Just $179
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Join us on Saturday, August 18, and Sunday August 19, from 09:00am to 12:00noon EST. You will learn PMP exam essentials and still have the rest of the day to yourself!
This class is open for PMP prep candidates from all over the world. So take the class and review PMP exam required topics to boost your exam studies, all while you sip your morning coffee -- or afternoon tea!
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Sample Question and Answer
A project team is identifying risks for a building construction project. The project will contract with several different vendors to produce the highly specialized deliverables of the project.
Acquiring services from outside the organization may increase or decrease overall project risk and may introduce additional individual project risks. What should the project team review in order to
develop a comprehensive list of individual project risks related to goods and services provided from outside the organization?
A. Project charter
B. Procurement documentation
C. Vendor risk register
D. Probability and impact matrix
HINT: What documentation would serve as an input to the Identify Risks process and provide relevant procurement information?
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Seeking Study Group/Partner in Atlanta Metro Area
One of our forum members is looking for a study partner/group. "Hi everyone. I am studying to take the exam in September. I am looking to join a study group or work with a study partner. Maybe meeting once a week for study sessions. If you are in the Atlanta metro area and already belong to a PMP study group - and are open to new additions, or if you are in need of a study partner, please let me know. Thank
You." Be her study partner!
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How is your PM PrepCast experience?
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We would like to ask a few minutes of your time to post a quick, honest and lovely review of your experience as a PM PrepCast student.
Thank you for your time. :)
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Student Profile: João Beltrão, PMP
"...I would say it is essential to read the PMP® Handbook, because it is the official word from Project Management Institute (PMI)® on what is tested in the exam and because it mentions a few things that are not mentioned in the A Guide to the Project Management Body of Knowledge (PMBOK® Guide) itself. Just keep in mind that the topics/tasks in the Handbook are numbered but do not necessarily occur in that order.
Practice! I answered a total of 3615 questions across all exam simulators that I used – and if you’re wondering what the best one is, it’s the PM Exam Simulator, because it has the questions with a degree of difficulty and ambiguity that is
closest to the real PMP exam, even though I felt the PM Exam Simulator has more text in each question..."
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Kudos to our students who passed the PMP exam! - Rejit Menon, PMP
- Rehan Azmat, PMP
- James Ayers, PMP
- Andrei Publico, PMP
- Jesper Raflores, PMP
- Fedir Ruzhynskyi, PMP
- Partheev Sharma, PMP
- Raghavendra Sorab, PMP
- Christopher Dieter, PMP
- Cynthia Lim Louis, PMP
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PMI, the PMI Registered Education Provider logo, PMBOK, PMP, PgMP, PfMP, CAPM, PMI-SP,
PMI-RMP, PMI-ACP, and PMI-PBA are registered marks of the Project Management
Institute, Inc.
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