Date: 28/05/2010 – 10 days to PMP exam

Project cost management revision is just completed and answered all the questions at the end of the chapter. Project time management and cost management are important concepts to deal with day-to-day activities in project management. I can say these are heart of the project management. Important things to consider in this chapter are…

• Earned value management: There will be few confusing terms which look same, but meaning is different. In exam, you may face questions to differentiate and apply this techniques to given problem.
• Understand direct and indirect costs. Similarly fixed and variable costs.
• Perform all the exercises specified in RITA PMP guide
• Understand cost performance baseline
• Understand in which process group, you may use EVM techniques
• Understand the terms “bribe”, “payment allowed”, “seek legal advice”...etc. These terms are part of professional and social responsibility factors.
• Estimation techniques are very important to understand and differentiate them. We use same techniques in Time Management as well.

Somehow I feel good to extend the exam date as I may need to find practical implementation of EVM techniques.

I’ve decided to revise Project Time Management and Cost Management techniques once again before going for the exam. This decision increased my confidence level that I can handle questions more accurately.