Project Management Terminology
Cost Baseline. The approved version of the time-phased project budget, excluding any management reserves, which can be changed only through formal change control procedures and is used as a basis for comparison to actual results.
Expert Judgment. Judgment provided based upon expertise in an application area, knowledge area, discipline, industry, etc., as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training.
CPAF (english) : Cost Plus Award Fee
If you are managing projects here are 6 good reasons to obtain your certification as Project Management Professional, PMP.
Question to a Project Management Professional
|Question||Select the best option|
|What is true about the process “Manage Communications”?||
Answer & Explanation
Explanation : What is true about process “Manage Communications” is: It passes information between the project team and the stakeholders external to the team.
Why are more than 790.000 executives around the globe certified as PMP?
- Reason 1: Better opportunities for attractive positions
- Reason 2: Prospects of above average income
- Reason 3: Personal development
- Reason 4: Knowledge and ability up to date
- Reason 5: Competences in the international context
- Reason 6: Comprehensive operational capability