Cost Management Archives

Short answer – No! But don’t forget to watch the video and understand the different terms. One more tip – Project Budget and Cost Baseline should not be used interchangeably …

Cost Management

Value Analysis – Bringing the Cost down without reducing the Project Scope

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Value Analysis is a term that is often used in Value Engineering. Value Engineering is defined as, The modification of designs and systems according to value analysis The next question …

Cost Management

How to remember EVM formulas – SV, SPI, CV, SPI

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Are you feeling overwhelmed with all the EVM formulas? Let’s discuss in this video how to remember four important ones. RELATED LINKS COST MANAGEMENT: FAQshttps://goo.gl/YdX2LQ EARNED VALUE MANAGEMENT (EVM)https://goo.gl/MFcQcd COST …

Cost Management

Sample PMP Questions of Earned Value Management with Answers

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Before proceeding, hopefully you already know the formulas for Earned Value Management technique, if not, check out this two videos, Earned Value Management Technique Formulas Earned Value Management Technique Formulas …

Cost Management

Control Costs Process

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What’s better than studying a topic only to realize you already know it! That’s exactly what you’ll feel like when we discuss the Control Costs process. But the caveat is, …

Cost Management

Earned Value Management (EVM) Technique Formulas and Explanations

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Although we have already covered Earned Value Management formulas, in this article we are taking an overview of what each concept really means. Earned Value Management technique is a method …

Cost Management

All PMP Cost Management Formulas (Earned Value Management – CPI, SPI, CV, SV, EAC, ETC, TCPI, VAC)

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Schedule Performance Index SPI = EV/PVEV = Earned ValuePV = Planned Value < 1 behind schedule = 1 on schedule> 1 ahead of schedule Cost Performance Index CPI = EV/ACEV …

Cost Management

I don’t do Cost Management on my Projects

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What if you don’t do Cost Management on your projects at all? Sure Cost Management is a Knowledge Area you need to study for your PMP preparation but what’s the …

Cost Management

Determine Budget Process

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Once we are done with Estimate Costs, the next process in the line is Determine Budget. You may ask, what is the difference between an Estimate and a Budget? Check …

Cost Management

What is the difference between Cost Estimates and Budget?

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Cost Estimates and Determine Budget are two different processes of the Cost Management knowledge area. A question that should come up here is the difference between Estimates and Budget. Aren’t …

Prakash Sapkota, PMP

Thank you PMC Lounge and Shoaib for all the wonderful materials and tips. With the help of your incredible contents, i passed my PMP exam in first attempt. Thank you again and best wishes

Prakash Sapkota

PMC Lounge

2020-07-06T01:22:24+05:30

Prakash Sapkota

Thank you PMC Lounge and Shoaib for all the wonderful materials and tips. With the help of your incredible contents, i passed my PMP exam in first attempt. Thank you again and best wishes

https://www.pmclounge.com/testimonials/prakash-sapkota-pm/

Ankit Mishra, PMP

I just gave my PMP exam and saw congratulations message at the end.

Thanks for creating PMC Lounge and I must say a huge credit goes to you for simplifying understanding in such a way that I found nowhere.

Thanks a lot Shoaib!

Ankit Mishra

PMC Lounge

2020-05-19T18:14:03+05:30

Ankit Mishra

I just gave my PMP exam and saw congratulations message at the end. Thanks for creating PMC Lounge and I must say a huge credit goes to you for simplifying understanding in such a way that I found nowhere. Thanks a lot Shoaib!

https://www.pmclounge.com/testimonials/ankit-mishra-pmp/

Muhammad Umair Riaz, PMP

Alhamdulillah, I have completed my PMP certification. PMC lounge plays a huge role in that. One of the best resource for PMP certification out there over the internet. Content for each and every topic has been created very precisely. Keep it up PMC Lounge, You are doing a great job.

Muhammad Umair Riaz

PMC Lounge

2021-05-30T19:36:21+05:30

Muhammad Umair Riaz

https://www.pmclounge.com/testimonials/muhammad-umair-riaz-pmp/

Alimul Razi, PMP

I have passed PMP a few days back. I would like to give special thanks to PMC Lounge and Shoaib for the awesome video that helps me a lot to pass the PMP exam.

Alimul Razi

PMC Lounge

2020-12-20T22:04:50+05:30

Alimul Razi

I have passed PMP a few days back. I would like to give special thanks to PMC Lounge and Shoaib for the awesome video that helps me a lot to pass the PMP exam.

https://www.pmclounge.com/testimonials/alimul-razi-pmp/

Namratha Maddirala, PMP

I passed my PMP exam last week and just wanted to say a BIG thank you for all the wonderful resources and videos you have been providing for PMP aspirants like me. Whenever i dont understand a topic on PMBOK, I used to refer to your videos. You make it so simple with a clear explanation. You are a Rockstar!!

I am so grateful to come across your channel. I even started recommending my colleagues to go through your resources. Please continue to do whatever you have been doing and wishing you very best in your future!!

Namratha Maddirala

PMC Lounge

2020-12-31T16:46:30+05:30

Namratha Maddirala

I passed my PMP exam last week and just wanted to say a BIG thank you for all the wonderful resources and videos you have been providing for PMP aspirants like me. Whenever i dont understand a topic on PMBOK, I used to refer to your videos. You make it so simple with a clear explanation. You are a Rockstar!! I am so grateful to come across your channel. I even started recommending my colleagues to go through your resources. Please continue to do whatever you have been doing and wishing you very best in your future!!

https://www.pmclounge.com/testimonials/namratha-maddirala-pmp/

Dan Sandifer, CAPM

Thank you. I had taken the "official" CAPM course from PMI but was struggling with the material. I watched your video on the formulas and then wound up going through multiple videos and found them clear, concise, and perfect. I passed the CAPM exam last Friday achieving above target on twelve of the thirteen topics (the last achieving target) and I attribute it to your videos. I have been in working in IT for many years and unfortunately, have been on furlough since March. As soon as I start working again, I am going to make a donation or two. Thank you for these videos and for making them free. I have given a thumbs up to many of them and will recommend them to everyone. May life bring you peace.

Dan Sandifer

PMC Lounge

2020-07-19T17:43:31+05:30

Dan Sandifer

https://www.pmclounge.com/testimonials/dan-sandifer-capm/

A. M. Al-Amin, PMP

I am really happy that I could get in touch with PMC Lounge's regular videos that clarified my concepts and ideas. It also helped me to have better knowledge on strategy to clear PMP at a one go. I like the style Mr. Shoaib delivers the lectures. I wish PMC Lounge continues this journey.

A. M. Al-Amin

PMC Lounge

2020-10-12T01:26:18+05:30

A. M. Al-Amin

https://www.pmclounge.com/testimonials/a-m-al-amin-pmp/

Imran Khan, PMP

I have recently achieved my PMP certificate and during the preparation I found youtube videos of channel PMC Lounge extremely helpful. Shoaib is doing a really fantastic job by explaining the complex project management terms with ease.

I would like to recommend PMP aspirants to watch the PMC Lounge videos and gain required knowledge in a most easy way.

Imran Khan

PMC Lounge

2020-08-11T15:03:26+05:30

Imran Khan

I have recently achieved my PMP certificate and during the preparation I found youtube videos of channel PMC Lounge extremely helpful. Shoaib is doing a really fantastic job by explaining the complex project management terms with ease. I would like to recommend PMP aspirants to watch the PMC Lounge videos and gain required knowledge in a most easy way.

https://www.pmclounge.com/testimonials/imran-khan-pmp/

Judy Thang

Just wanted to let you know that your youtube video is awesome. Your emphasis on words and the way you speak makes it interesting and easy to understand. Thank you!

Judy Thang

PMC Lounge

2020-10-07T15:31:23+05:30

Judy Thang

Just wanted to let you know that your youtube video is awesome. Your emphasis on words and the way you speak makes it interesting and easy to understand. Thank you!

https://www.pmclounge.com/testimonials/judy-thang/

Naved Ahmed, PMP

Thank you Shoaib !!
Finally I cleared my PMP , as a token of appreciation I would be glad to write a testimonial now !
Your contents are really helpful and covers all the topics, it was like a one-stop shop for me to check your videos for any Knowledge Area topic I was stuck with. The good thing about your content is that its saved in groups based on each knowledge area which is not the case with other content creators, so Kudos to you ! Thanks again, stay blessed !

Naved Ahmed

PMC Lounge

2020-12-08T22:21:04+05:30

Naved Ahmed

Thank you Shoaib !! Finally I cleared my PMP , as a token of appreciation I would be glad to write a testimonial now ! Your contents are really helpful and covers all the topics, it was like a one-stop shop for me to check your videos for any Knowledge Area topic I was stuck with. The good thing about your content is that its saved in groups based on each knowledge area which is not the case with other content creators, so Kudos to you ! Thanks again, stay blessed !

https://www.pmclounge.com/testimonials/naved-ahmed-pmp/

Ganesha Moorthi, PMP

Shoaib Qureshi, Hi Good morning, I am very happy to share with you, my PMP®️ certification achieved 10.07.2021 with all "Above Target - (3AT)" scores . Your YouTube videos and website is amazing , it helped lot to me to understand the core topic and basics and made it possible to achieve this, Thanks for your great support 🙏.

Ganesha Moorthi

PMC Lounge

2021-07-12T14:58:30+05:30

Ganesha Moorthi

https://www.pmclounge.com/testimonials/ganesha-moorthi-pmp/

Subhash Mishra, PMP

I want to thank you for all the YouTube videos on PMP process groups and knowledge areas. There have been knowledge areas like Procurement Management which was explained so well that I didn't refer to the PMBOK guide or Rita Mulcahy's book after seeing your videos. I sat for the PMP Test on 26th Dec and cleared it in my first attempt. I thank you with all my heart for doing such a wonderful job. Thank you so much for making those Playlists.

Subhash Mishra

PMC Lounge

2021-01-05T20:33:25+05:30

Subhash Mishra

https://www.pmclounge.com/testimonials/subhash-mishra-pmp/

JJ Acot, PMP

I just want to thank you for the helpful videos you publish on YouTube. I recently passed my PMP exam last Dec 17, 2020 with only 2 months to review. I found out about your channel just 2 weeks before the exams. Your videos really helped me on the concepts and differences of certain topics.

Again, thank you PMC Lounge and kudos for your mission in helping out aspiring PMPs 😊

JJ Acot

PMC Lounge

2020-12-22T17:57:50+05:30

JJ Acot

I just want to thank you for the helpful videos you publish on YouTube. I recently passed my PMP exam last Dec 17, 2020 with only 2 months to review. I found out about your channel just 2 weeks before the exams. Your videos really helped me on the concepts and differences of certain topics. Again, thank you PMC Lounge and kudos for your mission in helping out aspiring PMPs 😊

https://www.pmclounge.com/testimonials/jj-acot-pmp/

Ayush Mishra, PMP

I have recently passed my PMP exam. I want to thank you for your efforts making free youtube videos for us! I followed your channel based upon my colleague's suggestion and the best part I liked about PMC Lounge is that it's cool & has a well-curated content, unlike other long boring videos. Videos really helped me clear my concepts and were interesting to watch as well. In fact, a day before my exam, I did nothing but went through all your videos again.

Thank you, Shoaib! 🙂

Ayush Mishra

PMC Lounge

2020-10-13T13:32:57+05:30

Ayush Mishra

https://www.pmclounge.com/testimonials/ayush-mishra-pmp/

Nelson Calderon, PMP

Hello dear sir,

I am writing from the other side of the world (Bogota, Colombia), and wanted to tell you that yesterday I succeed on the PMP exam, with or process groups above target (except closing). It was an online exam (we are still on quarantine).

Your videos where a material very important for this achievement, I saw almost half or your YouTube videos, this helped me clarify many doubts an improve my project management vocabulary in English (my mother language is Spanish).

So thanks a lot for all your efforts putting online this wonderful resources. May you and all your loved ones be happy, healthy and successful.

Nelson Calderon

PMC Lounge

2020-05-17T21:11:39+05:30

Nelson Calderon

Hello dear sir, I am writing from the other side of the world (Bogota, Colombia), and wanted to tell you that yesterday I succeed on the PMP exam, with or process groups above target (except closing). It was an online exam (we are still on quarantine). Your videos where a material very important for this achievement, I saw almost half or your YouTube videos, this helped me clarify many doubts an improve my project management vocabulary in English (my mother language is Spanish). So thanks a lot for all your efforts putting online this wonderful resources. May you and all your loved ones be happy, healthy and successful.

https://www.pmclounge.com/testimonials/nelson-calderon-pmp/

Ankit Mittal, PMP

I am delighted to share that, I passed the PMP certification exam successfully with all domains Above target! Thanks, PMCLounge.com for your course, it was the key to my success. I thoroughly enjoyed the way you taught your course, how you explained everything in detail and made things plain and simple. Few concepts like leads, lags, schedule compression, critical path, risk management, burndown chart, and stakeholder analysis were described so easy to understand. I would recommend to each PMP aspirant to watch your videos to get success in their PMP journey. Thanks once again.

Ankit Mittal

PMC Lounge

2021-10-04T23:57:36+05:30

Ankit Mittal

https://www.pmclounge.com/testimonials/ankit-mittal-pmp/

Mazherullah Ibrahim, PMP

Recently I cleared my PMP exam with Above Target in all areas.

Even though I didn't took 35 PDUs thru PMCLounge, but for better/more understanding I used their platform. And it was very very good videos with more clarity and better way of explanation on the concepts.

Thanks once again.

Mazherullah Ibrahim

PMC Lounge

2021-04-14T01:14:50+05:30

Mazherullah Ibrahim

Recently I cleared my PMP exam with Above Target in all areas. Even though I didn't took 35 PDUs thru PMCLounge, but for better/more understanding I used their platform. And it was very very good videos with more clarity and better way of explanation on the concepts. Thanks once again.

https://www.pmclounge.com/testimonials/mazherullah-ibrahim-pmp/

Jordan Davis, PMP

I wanted to thank you for all of your videos posted on PMC Lounge. I watched every single one at least once and they provided an approach to learning the material that made things not only stick, but ingrain what it means to be a PM. Thank you kindly, I couldn’t have passed my PMP exam without you.

Jordan Davis

PMC Lounge

2021-04-02T20:08:45+05:30

Jordan Davis

https://www.pmclounge.com/testimonials/jordan-davis-pmp/

Bipul Chandra Roy, PMP

It's really a huge resource for the PMP exam preparation. I had gone through all of your video tutorials, all of your tutorials helped me a lot with my preparation. Firstly I was unable to find the way where to start but your video instructed me in a proper way. Thanks a lot, Shoaib for your excellent platform. Long live pmclounge.com

Bipul Chandra Roy

PMC Lounge

2021-05-30T19:38:50+05:30

Bipul Chandra Roy

https://www.pmclounge.com/testimonials/bipul-chandra-roy-pmp/

Ehsan Mohammadi, PMP

Thanks Shoaib for your fantastic website and videos. During the preparation I found YouTube videos of channel PMC Lounge extremely helpful. You are doing a really fantastic job by explaining the complex project management terms with ease.
I would like to recommend PMP aspirants to watch the PMC Lounge videos and gain required knowledge in a most easy way.

Many Thanks

Ehsan Mohammadi

PMC Lounge

2021-07-17T14:55:03+05:30

Ehsan Mohammadi

Thanks Shoaib for your fantastic website and videos. During the preparation I found YouTube videos of channel PMC Lounge extremely helpful. You are doing a really fantastic job by explaining the complex project management terms with ease. I would like to recommend PMP aspirants to watch the PMC Lounge videos and gain required knowledge in a most easy way. Many Thanks

https://www.pmclounge.com/testimonials/ehsan-mohammadi-pmp/

Nazwa Salim

Thank you! you were very clear in your instruction delivery.

Nazwa Salim

PMC Lounge

2020-07-02T15:47:26+05:30

Nazwa Salim

Thank you! you were very clear in your instruction delivery.

https://www.pmclounge.com/testimonials/nazwa-salim/

Aadil Feroze, PMP

The PMC Lounge channel is one of the very best resources on YouTube for aspiring PMPs, the videos are extremely clear, not distracting and superbly delivered by Shoaib Qureshi. Keep up the great work, your channel is invaluable! Thank You!

Aadil Feroze

PMC Lounge

2020-11-12T15:41:38+05:30

Aadil Feroze

https://www.pmclounge.com/testimonials/aadil-feroze-pmp/

Kiran Joshi, PMP

Thanks to PMC Lounge for being there, the bite size multimedia material has been very helpful for me to successfully clear the PMP in first attempt. Best wishes to keep growing and spreading the knowledge.

Kiran Joshi

PMC Lounge

2020-11-29T16:52:08+05:30

Kiran Joshi

https://www.pmclounge.com/testimonials/kiran-joshi-pmp/

Sundus Ahmad, PMP

I am now PMP certified manager 😊

Since the day I had started preparing for PMP to this day I believe everything I have done to pass the exam has paid off from one way or another. I would like to thank Shoaib for the his effort in making awesome videos on PMP concepts. These videos and tips are very helpful for all the students preparing for PMP exam. I used to refer videos from PMC Lounge whenever I felt stuck on some PMP concept be it Risk, Procurement or Organization Structure. Shoaib have excellent way of explaining things with passion. Keep going Shoaib, this is going to help number of PMP aspirants. Thanks once again.

Sundus Ahmad

PMC Lounge

2021-03-09T16:59:43+05:30

Sundus Ahmad

I am now PMP certified manager 😊 Since the day I had started preparing for PMP to this day I believe everything I have done to pass the exam has paid off from one way or another. I would like to thank Shoaib for the his effort in making awesome videos on PMP concepts. These videos and tips are very helpful for all the students preparing for PMP exam. I used to refer videos from PMC Lounge whenever I felt stuck on some PMP concept be it Risk, Procurement or Organization Structure. Shoaib have excellent way of explaining things with passion. Keep going Shoaib, this is going to help number of PMP aspirants. Thanks once again.

https://www.pmclounge.com/testimonials/sundus-ahmad-pmp/

Raja Badal, CAPM

I have recently cleared My CAPM certification. Your videos helped me a lot, while preparation.

The way you explained the functioning and interdependencies of all the knowledge areas, it gives a very sharp image of PMBOK , and one more thing , your voice modulation while speaking is very nice.

Thank you for creating good content. And that too free of cost!

Big Thanks

Raja Badal

PMC Lounge

2021-07-12T14:58:46+05:30

Raja Badal

I have recently cleared My CAPM certification. Your videos helped me a lot, while preparation. The way you explained the functioning and interdependencies of all the knowledge areas, it gives a very sharp image of PMBOK , and one more thing , your voice modulation while speaking is very nice. Thank you for creating good content. And that too free of cost! Big Thanks

https://www.pmclounge.com/testimonials/raja-badal-capm/

Arif Shah Syed, PMP

Passed my PMP exam with 'Above Target' in 4 domains & 'Target' in 1.

PMC Lounge videos was one of my preparation materials. Unlike other available videos, PMC Lounge's are really interesting, to the point & very easy to understand.

I would highly recommend PMP aspirants to benefit from PMC Lounge.

Thanks to PMC Lounge & Shoaib for your efforts in compiling & publishing such a great material online for 'FREE'. I would say you guys are really contributing to the PM community

Keep up the great work & thanks again.

Syed Arif Shah

PMC Lounge

2020-09-13T20:47:03+05:30

Syed Arif Shah

Passed my PMP exam with 'Above Target' in 4 domains & 'Target' in 1. PMC Lounge videos was one of my preparation materials. Unlike other available videos, PMC Lounge's are really interesting, to the point & very easy to understand. I would highly recommend PMP aspirants to benefit from PMC Lounge. Thanks to PMC Lounge & Shoaib for your efforts in compiling & publishing such a great material online for 'FREE'. I would say you guys are really contributing to the PM community Keep up the great work & thanks again.

https://www.pmclounge.com/testimonials/arif-shah-syed-pmp/

Karpagaraj S, PMP

Hi Shoaib, I have attended my PMP exam on 28 Aug 2021 and I received my certificate on 30 Aug 2021. Thanks for your PMP videos. Addition to my other learnings, these videos also helped me for better understanding.

Karpagaraj S

PMC Lounge

2021-09-02T23:14:57+05:30

Karpagaraj S

https://www.pmclounge.com/testimonials/karpagaraj-s-pmp/

Krishna Kulkarni, PMP

PMC Lounge is excellent learning platform thank a ton to Shoaib Qureshi for high quality and knowledgeable videos specially on PMP. It covers all topics of PMP , FAQs and very importantly some of new topics which are interesting and very useful. Really appreciate Shoaib Qureshi and his team for hard work planning and organizing videos very well structured, delivery of speech and excellent presentation . Highly recommend for PMP aspirants if anyone looking for exam preparation sources.

Krishna Kulkarni

PMC Lounge

2020-12-06T00:54:00+05:30

Krishna Kulkarni

https://www.pmclounge.com/testimonials/krishna-kulkarni-pmp/

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