By Michael W. Newell PMP ENP

As of March 2002, the venture administration specialist (PMP) certification examination has replaced. undertaking managers who desire the newest and such a lot entire test-preparation fabrics will locate this new version a lifesaver. masking each one competency sector proven at the examination, it additionally explains query constructions and gives a number of case reports and different important perform instruments. a useful table reference in addition, the hot version is totally modern. each bankruptcy has been revised to incorporate the most recent alterations to the undertaking administration physique of information (PMBOKR). For venture managers getting ready to take the examination, examine instruments contain: * all-new perform questions * simulated questions in "situational layout" of latest examination * new bankruptcy and questions about specialist accountability * new fabric on hazard administration * and lots more and plenty extra As continually, the ebook is the definitive advisor to correctly defining, budgeting, assigning, and executing initiatives of all kinds and scopes - on paper or at the activity.

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The variable cost of each of the alternatives is plotted over time and is plotted from time zero. In the case of an alternative requiring that money be spent before the benefits of the project can be realized, the variable cost is plotted from a point on the vertical axis representing the total fixed, one-time cost of the project. In the case of an ongoing alternative, the choice of doing nothing, there is no fixed cost. At some point in time, if the Figure 1-1. Break even chart. Total Cost Cost while not doing project Variable cost of project Break even point Fixed cost of project 0 Time Scope Management 33 project has an overall benefit, the lines will cross.

A better way to do this is to break the project into smaller projects or products of the project. This allows project management to become a methodology that will work well on the largest of projects or programs as well as the smallest. At the top levels of the a project, particularly large projects, think of these early levels of breakdown as product breakdowns. This is because on larger projects there can be a grouping of deliverables into large deliverables that might be called products. So, initially the project is broken up into a group of subprojects.

But all of these projects have risk attached to 40 Preparing for the Project Management Professional Certification Exam them. There is the possibility that we will spend all the money on the project, and it will not work. The market place might change, and the expected revenues are not what we had predicted. Many other things can go wrong in any business venture.

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