 PERT stands for Program (or Project ) Evaluation and Review Technique (Statistical Tool used in PM)  Analogous Estimating = Less

Accurate ( less costly and based on historical information )  Crashing increases Cost (due to added additional resources)  Monte Carlo Analysis: A schedule risk assessment technique that performs a project simulation many times in order to calculate a distribution of likely results  Bottom-up estimating: Estimating the cost of individual work items and then rolling up the costs to arrive at a project total is more accurate.  Fixed Price contract has the Highest Risk for the Seller  Higher the BCR (Benefit to Cost Ratio ) the better ( Less than 1 is unfavorable )  Parametric Modeling – Mathematical Figure ( ex. 120$ per ton)  Determining the number and types of tests and their impact on cost of quality is called Design of experiments which is done in Plan Quality process  A fair contract shares a reasonable amount of risk between the buyer and the seller  Number of communication channel will be calculated using formula n*(n-1)/2 where n is the number of people involved in the communication ( where “n” represents the number of Stakeholders )  Configuration Management System addresses controlling documents.  Updating the WBS during Define Activities, are often called Refinements  An IFB is a sealed document that lists the seller's price to complete the detailed work.  More the Critical Paths More the Risk! ( Convergence, Bottlenecks )  Variance report: An actual project result and planned status of a project.  When doing Make-or-buy decisions include both direct and indirect costs  OBS,RBS,WBS– Organization, Resource, Work Breakdown Structure ( one more RBS – Risk Break Down Structure)

Unique Features of this notes:

 Aligned with PMBOK® 5th Edition  It covers a wide variety of topics in a very simple language - one point at a time  Examples were used to make it easy to understand complex/confusing terminology  Very Useful ITTO Tips are available form Page 13 to Page 20  Also covers ALL Mathematical Concepts with examples  Over all it has got more than 1200 Points (71 Pages) - it has got both Quality and Quantity  Printer Friendly (Ready to Print)  All important concepts are updated with the latest information, examples & tips  It’s highly customized for Revision & Retention! (Every point is hand-picked)  Covers ALL Knowledge Areas, Process Groups, Processes & Formulae  Ultimately, it's not free because it has got both Quality & Quantity unlike other cheap/free notes available over the internet! (Right now, it's available for just USD $10 )

So many PMP aspirants have used the same to clear their PMP Exam in their First Attempt - It's worth the investment.

All the best for your PMP Exam Preparation! 

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