Question: The sponsor wants a project to be completed in six months with a budget limited to $200,000. This is an example of?

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Project Management Terminology

Risk Escalation. A risk response strategy whereby the team acknowledges that a risk is outside of its sphere of influence and shifts the ownership of the risk to a higher level of the organization where it is more effectively managed.

Functional Organization. An organizational structure in which staff is grouped by areas of specialization and the project manager has limited authority to assign work and apply resources.

Common Acronyms

LOE (english) : Level of Effort

If you are managing projects here are 6 good reasons to obtain your certification as Project Management Professional, PMP.

Discover how you can accomplish your PMP in 6 months as a very busy person.
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Question to a Project Management Professional

Question Select the best option
The sponsor wants a project to be completed in six months with a budget limited to $200,000. This is an example of?
  1. Scope statement.
  2. Constraints.
  3. Conflict of interest.
  4. Assumptions.
Answer & Explanation
Right answer
    1. Scope statement.
    2. Constraints.
    3. Conflict of interest.
    4. Assumptions.

Explanation : Predefined budget and timeframe are project constraints that will limit of the project management 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
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Discover how you can accomplish your PMP in 6 months as a very busy person.

More details: here

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