fbpx

7 Formulas to Calculate Incentive Fee Contracts

If you are managing a project that uses vendors or contractors, you will to have a contract. There are two types of incentive fee contracts in the PMBOK guide: Cost Plus Incentive Fee (CPIF) and Fixed Price Incentive Fee (FPIF) contracts. When there is an incentive fee, the seller will be awarded a bonus if […]

Continue reading

Procurement Contract Types for PMP Exam

Procurement contract types are an important part of Procurement Management in the PMBOK guide, and you will get a few questions on the topic on your PMP exam. In this post, we will what the 3 major types of contracts explained in the PMBOK: Fixed price contract Firm fixed price contract (FFP) Fixed price with […]

Continue reading

Are you scared of writing your PMP exam?

Are you scared of writing your PMP exam even though you have been studying for months? Do you feel nervous, anxious, or even afraid about writing this 4 hour exam? Have you ever asked yourself, “am I ready for this?” or “how do I know I’m ready?” or “What if I fail?” If you said […]

Continue reading

PMI Talent Triangle – How to Stand Out as a Project Manager

PMI’s Talent Triangle highlights the qualities of a good project manager. The ideal project manager has a combination of technical project management skills, leadership and strategic and business management. If you thought technical skills was all you needed as a project manager, think again. In today’s job market, companies are increasingly looking for project managers who […]

Continue reading

PMBOK 6th Edition – Release Date + Changes + PDF to download

PMI (Project Management Institute) releases a new version of the PMBOK (Project Management Book Of Knowledge) roughly every 4-5 years. The date set for the next release for PMBOK 6th Edition is the third quarter of 2017. Watch the video below to find out what’s changing from the 5th edition to the 6th edition. Why […]

Continue reading

The Best Free PMP Apps

In the digital age, it’s all about smartphones. We all want things on-the-go, even when it comes to studying for the PMP. If you are travelling and don’t have access to your laptop, the PMP apps are a great way to fit in some extra studying. A common problem that I hear PMP aspirants say […]

Continue reading

How to Memorize the PMP Process Chart in the PMBOK Guide

The PMP Process Chart is the backbone of the PMBOK guide. Each chapter of the PMBOK expands on each row or Knowledge Area in the Process Chart. Thus, it is essential that you have this chart memorized before your exam. One of my top tips for taking the exam is to draw out the Process […]

Continue reading

PMP 5th Edition ITTO Commonly Asked Questions Answered

To start with, you don’t need to memorize all of the PMP 5th Edition ITTO (Inputs, Tools and Techniques, Outputs) for all 47 processes. In fact, if you tried, you may drive yourself crazy. There are roughly 7 ITTO per process, which amounts to over 300 ITTOs altogether. Additionally, the purpose of the PMP exam […]

Continue reading

PMP Exam Tips and Tricks

Want PMP exam tips and tricks that you’ve probably never seen? Want to improve your PMBOK memory dramatically in the next 10 minutes and all the PMP acronym / mnemonic / memory aids in one place? Good. Let’s get started. The “skeleton” of the PMBOK guide is the process chart. It is a good idea […]

Continue reading

Understanding the 7 Basic Quality Tools for your PMP Exam

There are 7 basic quality tools that organizations can use to monitor and control their projects’ processes, and these tools are outlined in the PMBOK guide. These tools can be applied to projects of all sizes and across all industries. Hence, they have become a staple in quality management. PMP aspirants need to understand what […]

Continue reading