Monthly Archives: January 2015

Risk, Risk Appetite, Risk Tolerance, Risk Threshold, Risk Attitude

As per the PMBOK Guide 5th edition, “Project risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, and quality.” From the above definition, you can conclude that a risk can either be an opportunity or a …

Success Mantra for cracking PMP!

One of my friend Cracked PMP recently This is what he thinks… Learning Strategy I skimmed PMBOK® once and read the study notes provided by IT Education Centre 3 times. I bought PMP® Exam Prep: Rita’s Course in a Book for Passing the PMP® Exam and read all the chapters from cover to cover and …

Know the Key Formulas for your PMP Exam!

To pass the PMP, you will have to know the formulas used to calculate the key project management metrics. Some of the formulas you need to know are: Planned Value (PV) = Planned % Complete X BAC Actual Cost (AC) = Sum of the actual costs Earned Value (EV) = % Complete * BAC Budget …

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