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.
LOE (english) : Level of Effort
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|
|The sponsor wants a project to be completed in six months with a budget limited to $200,000. This is an example of?||
Answer & Explanation
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