Project Procurement Management

PMP Exam Change 2021

Project Management Professional (PMP)® Exam Aspirant’s Definitive Guide to PMP® Exam Changes 2021

In June 2019, PMI Certification has released a new PMP® certification content outline. Based on this exam content outline, exam pattern will change by Jan 2021. It is an effort to equip project managers with today's modern project environment. So, now the question is what modern project management is? Based on research by PMI, the following are some highlights to see how project management profession has progressed: 1. Project Manager as a Coach Project Practitioner keeps observing the importance of empathy…
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What is the Point of total assumption (PTA) ?

During my interaction with Project Management Professional (PMP)® Certification aspirants, often I see that they take the Point of Total Assumption as a confusing concept. I observed that there are lots of misunderstandings and confusions that need clarity. Though not a crucial question from the PMP® exam point of view, it still needs a detailed discussion. In this blog, I will address the puzzling PTA concept with simple to understand examples. This concept is only related to fixed-price incentive fee contracts.…
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Top Pmp interview questions

PMP®Exam interview Questions

Domain Based What is a baseline, how is it use while creating project management plan? What are organizational influences? Explain with examples What is a project charter? Is project manager involved in the creation of a project charter? What is a project, how is it different from a program, and a portfolio? How many knowledge Areas are there in Project Management. Do you use all in your projects? What are project management methodologies? Which one did you used in your…

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A Quick Guide to Comparing Various Contract Types and the Role of Project Managers

There are three different contract types that is widely adopted in the industry. These include: Fixed Price Contracts (FP) Cost Reimbursable Contracts (CR) Time & Material Contracts (T&M) I am sure many of you are familiar with these contract types as they are prevalent and used across industries and project types. Through this blog, I would like to explore the relevance of these key contract types for various business scenarios. I have chosen 4 parameters to assess the type of…
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Procurement Management Demystified for Project Managers

What is Procurement Management? I’m sure, most of you are not foreign to this term yet the process is quite interesting and sometimes complex to understand due to intricacies involved. Procurement management is the process companies use to purchase economic resources and business input from suppliers or vendors. This process helps companies negotiate prices and get the best quality resources. It has always been a challenge for aspiring and new Project Manager to get a holistic understanding of procurement management.…

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