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PMP®

Samer barakeh(3330)

Well-Known Member
Trainer
As per me, answer should be "A" - difference of opinion should not be an issue as sign off and alignments are received at every stage of the project.
Hi,
yes the best answer is A
the priority is to complete the deliverable within applicable laws.

for B: did they mention that the key member is leaving now? or that this will impact the project? the question does not indicate that there will be an impact on the project.

Best
Samer
 

geetaa v sharmaa

Member
Alumni
Hi Goutam,

Thank you for sharing the PMP Knowledge Areas worksheet via Simplilearn. It is very helpful in self study.

Last week, someone in our class did point out if there can be any worksheet with 47 processes elaborated for easy learning. So I have created such excel worksheet which lists all 47 processes with inputs, outputs, tools & technologies highlighting Knowledge areas and process groups. I have shared the same on email with Priyamwada so it can be formally shared with you for your approval before I leverage it with the team. Kindly review once shared by Simplilearn team and provide your inputs so we can share with team as good practice. :)

Geetaa
 

Diwakar Toleti

New Member
Alumni
Can anyone please provide me the templates for Project Planning, Scheduling and Stake holder management if at all available.
 

Sandeep Kumar_28

Member
Alumni
I have a question about EVM..
1. CV = EV-AV ... it can be -ve , 0 or +ve ...Am I right?
2. SV = EV-PV... it can be -ve , 0 or +ve ...Am I right?
3. CPI = EV/AC ..... training video says that it can be between 0 and 1....pls see Chapter 7.14...then how can CV be +ve? Because for CV to be +ve, EV >AV, which is possible..... but then the recorded training statement that 0<CPI<1 desn't hold good.....Can someone please clarify.
4. SPI ....the quesion is same as above point nr. 3

I will appreciate a right explanation.
Thanks in advance
Sandeep.
 

Sandeep Kumar_28

Member
Alumni
Can a functional manager be a Project Manager..... As I understand from standard definiiton, a Project Manager is not a techincal expert. But in Engineering industry, for example, if I am a Functional Manager of a startup.... then I can also be a Project Manager as I would like to limit my budget and resource costs... Am I right in saying so that a functional manager can also be a project manager?
Please correct me and if I am wrong then please explain....
Kind Regards
Sandeep
 

SYEDABDHAHIR YASIN

Member
Alumni
Calculate the point of total assumption using the following data: Target cost = $100,000, Target profit = $20,000, Target Price = $120,000, Buyer/Share ratio = 70/30, Ceiling price = 140,000.
128571.43
122142.86
135000
115714.29
What is the answer
 

pritam.g

New Member
Alumni
Can someone help me understand the difference between Risk Tolerance and Risk Threshold. I am finding them very similar. I searched the web too but came up with conflicting answers
 

Priyamwada

Well-Known Member
Simplilearn Support
Hi Pritam,

We have received your query.
I know the answers are pretty conflicting , hence , I am forwarding your query to our trainer.
Kindly allow us 24- 48 hrs of time while we revert with an update.

Regards,
Priyamwada
 

tim jerome

Well-Known Member
Trainer
Pritam, good day - let's take these concepts one at a time, and then we can discuss similarities and differences.

  • Risk Tolerance - the degree of risk someone or something can withstand. I like to think of this as 'absorb'. If I have a reserve of $15,000 to cover car accidents, and I estimate each could cost me $7,000, I can absorb, or 'tolerate' 2 such events.
  • Risk Threshold - a measure of risk exposure above which action must be taken to address, and below which risks may be accepted. My organization is comfortable with me covering small extra costs with my corporate credit card. Anything above $5,000 requires my director step in and take over the decision-making.
These are not only project definitions, but business decisions. They discuss how comfortable the organization is with managing unknown events, and how they prefer to handle them as these events occur. Tolerance deals with over-all ability to handle these events without intercession (with current planning in place), and threshold discusses where more executive decision-making wishes to step in.

I used the PMBOK and the Risk Management Practice standard as references; there are not many places you will see these concepts compared and contrasted.
 
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