Difference between Fixed Cost and Direct Cost

Difference Between Fixed Cost & DIrect Cost For PMP Exam

Several PMP exam questions focus on the difference between Fixed Cost, Direct Cost, Indirect Cost & Variable Cost. These questions come from Cost Management knowledge area, but are also covered in Scope Management and Procurement Management. Unfortunately the PMBOK Guide does not provide any detailed information on these cost types and their definitions. Thus, most … Read more

3 Point Estimate: Triangular Distribution vs Beta Distribution (PERT)

PMP aspirants often come across the 3 Point Estimate when studying for the PMP exam for the first time. There are 2 different formulas for the 3 Point Estimate, and it is generally not clear to most project managers as to which one to use, and when, or why. I have written about the 3 … Read more

What is the Delphi Technique?

Yesterday, after I wrote about the Performance Measurement Baseline for the PMP exam, I received an email asking about the Delphi Technique. I replied to the query, but then thought to expand it, and make it into a detailed article for your benefit too, as it is a common question on the PMP exam. Most … Read more