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Project Management Professional (PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI). [1] As of 31 July 2020, there are 1,036,368 active PMP-certified individuals and 314 chartered chapters across 214 countries and territories worldwide.
In the 1960s project management as such began to be used in the US aerospace, construction, and defense industries. [7] The Project Management Institute was founded by Ned Engman (McDonnell Douglas Automation), James Snyder, Susan Gallagher (SmithKline & French Laboratories), Eric Jenett (Brown & Root), and J Gordon Davis (Georgia Institute of Technology) at the Georgia Institute of Technology ...
The exam consists of 150 multiple-choice questions with four answers per choice. Candidates have 3.0 hours to complete the exam. To be able to apply, one needs a secondary diploma (high school diploma/global equivalent) as well as a minimum of 1,500 hours of project experience OR 25 hours of project management education.
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
[2] [3] Martin Barnes (1968) proposed a project cost model based on cost, time and resources (CTR) in his PhD thesis and in 1969, he designed a course entitled "Time and Cost in Contract Control" in which he drew a triangle with each apex representing cost, time and quality (CTQ). [4] Later, he expanded quality with performance, becoming CTP.
Here’s a look at how PMI might play out based on how much you put down, according to the Freddie Mac mortgage insurance calculator and the Bankrate mortgage calculator. These examples assume a ...
Cost engineering – is the area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of cost estimating, cost control, business planning and management science, profitability analysis, project management, and planning and scheduling." [8]
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