Book Image

Becoming a PMP® Certified Professional

By : J. Ashley Hunt
Book Image

Becoming a PMP® Certified Professional

By: J. Ashley Hunt

Overview of this book

One of the five most prestigious certifications in the world, the PMP® exam is said to be the most difficult non-technical certification exam. With this exam guide, you'll be able to address the challenges in learning advanced project management concepts. This PMP study guide covers all of the 10 project management knowledge areas, 5 process groups, 49 processes, and aspects of the Agile Practice Guide that you need to tailor your projects. With this book, you will understand the best practices found in the sixth edition of the PMBOK® Guide and the newly updated exam content outline. Throughout the book, you'll learn exam objectives in the form of a project for better understanding and effective implementation of real-world project management tasks, helping you to not only prepare for the exam but also implement project management best practices. Finally, you'll get to grips with the entire application and testing processes in PMP® and discover numerous tips and techniques for passing the exam on your first attempt. By the end of this PMP® exam prep book, you'll have a solid understanding of everything you need to pass the PMP® certification exam, and be able to use this handy, on-the-job desktop reference guide to overcome challenges in project management.
Table of Contents (22 chapters)
1
Section 1: Introduction to Project Management and People
8
Section 2: Project Management Processes
17
Section 3: Revision
19
Chapter 16: Final Exam

Estimating costs

The good news about this section is that everyone is aware of money and how budgeting works for their day-to-day lives. It's entirely possible that you will not be managing a budget for your current projects, and if you are, it may only be for the acquisition of materials and equipment.

The PMP® exam assumes you will be doing some budgeting for project work, and that you will be tracking budgetary performance throughout the project.

Estimating costs is not just about what things cost but whether there are alternatives that can be discovered for the good of the project. This means that if one thing costs more than the project would like to spend, is there an alternative we can use to help protect the budget? Replacements can be a dangerous game if you have ever cut corners on costs and gotten exactly what you have paid for. That dance is consistent in cost management and is also present in procurement management as well.

What does your organization...