Learn about Probability and Statistics in Project Management including terms such as Random Variables, Uniform Distribution, Beta Distribution, Triangular Distribution, Normal Distribution, Mean, Variance, Standard Deviation, and Central Limit Theorem.
What is the PERT Formula and how is it derived? How is PERT estimate calculated? Learn about derivation of PERT formula, Standard Deviation Formula, and Variance Formula.
What is Three Point Estimate? Understand why three point estimate is better than a single point estimate. Learn about probability, estimation in a range, and reserves and padding.
A detailed tutorial on Project estimation and Program Evaluation and Review Technique (PERT) in project management for PMP certification.
Explanation of four components of a Configuration Management System are Configuration Identification, Configuration Control, Configuration Status Accounting, and Configuration Verification and Audit.
The activities in the Closing Process Group of the project management framework defined in the PMBOK Guide are performed in a specific order. This area is testing in the PMP exam.
Difference between Configuration Control and Change Control in Project Management in the context of Configuration Management System.
An overview of Configuration Management System and Change Management System in the context of Project Management Information System. Configuration Management is focused on the functional or physical characteristics of the "product" (or deliverables of the project).
Project Risk Management Terms explained in a simplified manner for PMP certification. Terms explained include Contingency Plan, Residual Risks, Threshold, Reserves, Triggers, Tolerance, Fallback Plan, Watchlists, Secondary Risks, Workaround.
Sample questions on Network Diagram with Finish-to-Finish (FF) Dependency in Critical Path Method (CPM) for PMP Certification.
