X

Knowledge Areas

Work Authorization System

https://www.youtube.com/watch?v=EYqFE2pMF8s The Work Authorization System is an important aspect and you can definitely expect atleast a question around it in…

Top 3 things you must know about Defects

https://www.youtube.com/watch?v=IttXK3SRC3I Defects are inevitable and all projects have them. Fixing defects means fixing deliverables not necessarily the plan. Below are…

Top 3 things you must know about Deliverables

https://www.youtube.com/watch?v=_V4owxGhKbY 'Deliverables' is one term you will come across many a times during the course of a project. We list…

Overview of Project Selection Concepts / Methods / Techniques

https://www.youtube.com/watch?v=k1m8o3PleHk RELATED LINKS PROJECT SELECTION PLAYLISThttps://www.youtube.com/playlist?list=PLLRADeJk4TCK04Hcvb7lOX5FjXJtQhPdo YOUR PMP BRAIN DUMPhttps://www.youtube.com/watch?v=PxZ8j2KAOpY PMP FORMULA CHEAT SHEEThttps://www.youtube.com/watch?v=bOwdUsVI9ig LIST OF COMMON NAMES FOR PMP…

Project Selection – Internal Rate of Return

https://youtu.be/G7jG0_TOg78 Definition This is one of the most, if not the most, important metric that the Project Manager should be…

Project Selection – Benefit-Cost Ratio

https://www.youtube.com/watch?v=CcRP3Wya_iM Definition Benefit-Cost ratio is the ratio of the benefits of a project compared to the costs calculated in terms…

Project Selection – Opportunity Cost

https://www.youtube.com/watch?v=uIGFTejZRPI Definition Opportunity Cost is the highest value a person needs to give up for the selected choice. For example,…

Project Selection – Return on Investment

https://www.youtube.com/watch?v=pphAMY5mV2U Definition Return on investment (ROI) is the benefit an investment bring about, by comparing profits in relation to capital…

Project Selection – Payback Period

https://www.youtube.com/watch?v=QAuuwDOu61U Definition Payback Period is the time it takes for the organization to earn back the initial investment (in terms…

Project Selection – Net Present Value (NPV)

https://www.youtube.com/watch?v=HiVbDQPRE1g Definition Net Present Value (NPV) of the sum of all cash inflows (in Present Value) of the project minus…