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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 …
Is Project Budget and Cost Baseline the same? Read More
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 …
Value Analysis – Bringing the Cost down without reducing the Project Scope Read More
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 …
How to remember EVM formulas – SV, SPI, CV, SPI Read More
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 …
Sample PMP Questions of Earned Value Management with Answers Read More
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, …
Control Costs Process Read More
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 …
Earned Value Management (EVM) Technique Formulas and Explanations Read More
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 …
All PMP Cost Management Formulas (Earned Value Management – CPI, SPI, CV, SV, EAC, ETC, TCPI, VAC) Read More
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 …
I don’t do Cost Management on my Projects Read More
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 …
Determine Budget Process Read More
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 …
What is the difference between Cost Estimates and Budget? Read More