Pmp Exam Training Project Selection Methods In Detail

ACRONYMS, TERMS AND FORMULAS Preview 08:43

In this section, I will explain this concept as simple as possible so that you understand it easily. So, if you are ready, let’s start the lectures.

BASIC PRINCIPLES Preview 16:41

As I said at the beginning of the Earned Value lectures, to explain the EVM Concepts, we will go through an example.

EVM In Deep Preview 12:47

In the previous lectures, we have talked about the basic principles for the Earned Value Analysis. By only knowing the subjects we have seen up to here, you will be able to solve 2 third of the questions regarding Earn Value Analysis. But since you want to solve all of the questions, you need to follow the rest of the EVM lectures.

EVM In Deep (Continued) Preview 07:39

In this lecture we will simulate the 60th and the 80th days of the same example we have discussed in the previous lectures.

EVM In Deep (Continued) 2 Preview 06:24

In this lecture, we continue the EVM calculations of the 60th day of our example.

EVM In Deep (Continued) 3 Preview 09:18

In this lecture, we will simulate the 80th day of the example we have discussed in the previous lectures.

Calculations for the 3rd Example Preview 07:48

In this lecture, we will do the calculations of the 3rd example which we have discussed in the previous lecture.

Sample Questions in Quiz Format v1.0

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Sample Questions in Video Format 1_2 Preview 08:06

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Sample Questions in Video Format 2_2 Preview 12:06

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INTRODUCTION Preview 01:17

Before the project is chartered, some analysis should be done to decide whether to start or not to start the project. These analyses are called the Project Selection Methods, which we are going to explain in this section.

PROJECT SELECTION METHODS Preview 02:27

Before starting the project, some analysis should be conducted to decide whether or not to start the project. Sometimes, not starting a project, may be a better option than starting it. There are some methods help us to make the right decision.

INTERNAL RATE OF RETURN Preview 01:53

I.R.R. is the abbreviation of the Internal Rate of Return. Internal Rate of Return calculation is very complicated, but the good news is you don’t need to know how to calculate it for the exam.

PAYBACK PERIOD Preview 03:18

The Payback Period is the time required to repay the investment with net cash outflow generated after the project is closed.

COST-BENEFIT ANALYSIS Preview 02:34

Another Economic Model for project selection is the Cost-Benefit analysis. In this method, the cost of the project is compared with the benefits of the project.

PRESENT VALUE Preview 02:46

Before starting the present value lecture, let’s understand what the Present Value means.

NET PRESENT VALUE Preview 01:10

Next and the last economic model is the Net Present Value.

HOW TO SELECT THE PROJECT Preview 02:42

Up to now, we have learned some of the Project Selection Methods. Now, let’s briefly talk about how to select the project; this is, we will learn which project is the best project according to the results we get from the Economic Models.

ACCOUNTING TERMS TO KNOW Preview 07:39

In this lecture, I will explain some of the accounting terms you need to know for the exam.

Sample Questions in Quiz Format v1.0

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Sample Questions in Video Format Preview 09:43

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ESTIMATION TECHNIQUES Preview 09:04

In this lecture, we will learn how to determine the duration of the activities one by one.

THREE POINT ESTIMATING TECHNIQUE Preview 14:11

In the previous lecture, we have seen the One Point Estimating, Analogous Estimating and the Parametric Estimating techniques. Here in this lecture, we will discuss the Three-Point Estimating technique in detail.

Sample Questions in Quiz Format v1.0

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Sample Questions in Video Format Preview 05:50

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SEQUENCING THE ACTIVITIES Preview 13:20

Hi there. In this section, we will discuss the Critical Path Method, Schedule Compression, Simulation Techniques, and Resource Optimization which are the commonly used techniques in the Schedule Management knowledge area. First of all, we need to learn how to sequence the activities and here in this first lecture, we will talk about that.

DRAWING A NETWORK DIAGRAM Preview 07:48

In this lecture, we will learn how to draw a network diagram from a given activities list with dependencies.

CRITICAL PATH METHOD Preview 04:51

In this lecture, we will learn how to do the scheduling calculations by using the Critical Path Method.

CRITICAL PATH METHOD CALCULATIONS Preview 17:20

In this lecture, we will learn how to do the Critical Path Method calculations. First, we will talk about the Forward Pass and the Backward Pass. Then, we will learn how to calculate the Floats and how to find the Critical Paths.

SCHEDULE COMPRESSION Preview 08:49

In the previous lectures, we have learned, how to make schedule calculations; so, we know how to find the critical path and how to calculate the total duration of the project. OK, what about this? Let’s say you calculated the project duration and when you present it to your sponsor, he said: “We need to complete the project in a shorter time”. What would you do?

SIMULATION Preview 06:02

There may be hundreds of activities in a network diagram. Each activity has its own source. For example, resources are different for each activity. Differences in these sources may result in different results on the Project. We use simulation techniques to investigate the different results of different scenarios.

RESOURCE OPTIMIZATION Preview 06:41

In this lecture, we will talk about the two Resource Optimization techniques: Resource Leveling and Resource Smoothing.

Sample Questions in Quiz Format

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Sample Questions in Video Format 1/2 Preview 09:05

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Sample Questions in Video Format 2/2 Preview 08:32

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COMMUNICATION CHANNELS Preview 05:08

We calculate the number of communication channels as part of the Communication Requirements Analysis, which is a technique, used for planning Communications Management. In this lecture, we will talk about how to do these calculations.

Sample Questions in Quiz Format v1.0

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Sample Questions in Video Format Preview 04:47

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PERFORM QUALITATIVE RISK ANALYSIS Preview 06:29

In this section, we will learn the math concepts related to the Risk Management knowledge area. In this first lecture, we will discuss the Qualitative Risk Analysis.

PERFORM QUANTITATIVE RISK ANALYSIS Preview 03:47

In this lecture we will talk about the Quantitative Risk Analysis.

EXPECTED MONETARY VALUE ANALYSIS Preview 05:32

In this lecture we will start to learn how to conduct the Quantitative Risk Analysis.

DECISION TREE ANALYSIS Preview 11:22

In the previous lecture, we learned how to do the Expected Monetary Value calculations. Now, in this lecture, we will learn the calculations for another Quantitative analysis method, the Decision Tree Analysis.

Sample Questions in Quiz Format

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Sample Questions in Video Format Preview 10:26

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MAKE-OR-BUY ANALYSIS Preview 09:28

In this lecture, we will talk about the Make-or-Buy analysis, which is a technique mostly used in the Procurement Management knowledge area.

Sample Questions in Quiz Format

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Sample Questions in Video Format Preview 05:28

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CONTRACT TYPES Preview 15:23

There are several contract types exist, and in this lecture, we will learn the ones you need to know for the exam.

CONTRACT TYPES (Continued) Preview 16:54

In this lecture, we will continue to talk about the Contract Types. We have discussed the Fixed Price contracts in the previous lecture; now it is time to talk about the other types.

RISKS ACCORDING TO THE CONTRACT TYPES Preview 04:44

Up to now, we have talked about the contract types. We mentioned some of the Risks, but we haven’t compared the Risks according to the Contract Types. In this lecture, we will prioritize the Contract types, based on the Risks they include.

CALCULATIONS RELATED TO CONTRACTS Preview 15:50

In this lecture, we will learn how to solve the math questions related to contracts.

Sample Questions in Quiz Format v1.0

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Sample Questions in Video Format Preview 09:40

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PMP® Exam Content Preview 02:16

Information about PMP Exam is given.

PRACTICE TEST 1: EXAM SIMULATION 2021

Practice Test 1  -  180 Questions

All the questions in this exam are updated by considering the new PMP Exam Content Outline (2021).

Practice Test 1 / Q1 - Q10 Preview 15:14

Realistic Exam 1: Questions 1 to 10

Practice Test 1 / Q11 - Q20 Preview 17:19

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Practice Test 1 / Q21 - Q30 Preview 10:53

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Practice Test 1 / Q31 - Q40 Preview 15:09

Realistic Exam 1: Questions 31 to 40

Practice Test 1 / Q41 - Q50 Preview 16:56

Realistic Exam 1: Questions 41 to 50

Practice Test 1 / Q51 - Q60 Preview 14:26

Realistic Exam 1: Questions 51 to 60

Practice Test 1 / Q61 - Q70 Preview 15:50

Realistic Exam 1: Questions 61 to 70

Practice Test 1 / Q71 - Q80 Preview 14:46

Realistic Exam 1: Questions 71 to 80

Practice Test 1 / Q81 - Q90 Preview 12:05

Realistic Exam 1: Questions 81 to 90

Practice Test 1 / Q91 - Q100 Preview 12:59

Realistic Exam 1: Questions 91 to 100

Practice Test 1 / Q101 - Q110 Preview 12:59

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Practice Test 1 / Q111 - Q120 Preview 13:00

Realistic Exam 1: Questions 111 to 120

Practice Test 1 / Q121 - Q130 Preview 12:02

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Practice Test 1 / Q131 - Q140 Preview 12:10

Realistic Exam 1: Questions 131 to 140

Practice Test 1 / Q141 - Q150 Preview 12:29

Realistic Exam 1: Questions 141 to 150

Practice Test 1 / Q151 - Q160 Preview 10:58

Realistic Exam 1: Questions 151 to 160

Practice Test 1 / Q161 - Q170 Preview 14:26

Realistic Exam 1: Questions 161 to 170

Practice Test 1 / Q171 - Q180 Preview 13:48

Realistic Exam 1: Questions 171 to 180

PRACTICE TEST 2: EXAM SIMULATION 2021

Practice Test 2  -  180 Questions

All the questions in this exam are updated by considering the new PMP Exam Content Outline (2021).

Practice Test 2 / Q1 - Q10 Preview 14:17

Realistic Exam 2: Questions 1 to 10

Practice Test 2 / Q11 - Q20 Preview 09:51

Realistic Exam 2: Questions 11 to 20

Practice Test 2 / Q21 - Q30 Preview 12:29

Realistic Exam 2: Questions 21 to 30

Practice Test 2 / 31 - Q40 Preview 12:39

Realistic Exam 2: Questions 31 to 40

Practice Test 2 / Q41 - Q50 Preview 12:30

Realistic Exam 2: Questions 41 to 50

Practice Test 2 / Q51 - Q60 Preview 11:05

Realistic Exam 2: Questions 51 to 60

Practice Test 2 / Q61 - Q70 Preview 11:11

Realistic Exam 2: Questions 61 to 70

Practice Test 2 / Q71 - Q80 Preview 13:24

Realistic Exam 2: Questions 71 to 80

Practice Test 2 / Q81 - Q90 Preview 11:07

Realistic Exam 2: Questions 81 to 90

Practice Test 2 / Q91 - Q100 Preview 12:27

Realistic Exam 2: Questions 91 to 100

Practice Test 2 / Q101 - Q110 Preview 10:50

Realistic Exam 2: Questions 101 to 110

Practice Test 2 / Q111 - Q120 Preview 10:43

Realistic Exam 2: Questions 111 to 120

Practice Test 2 / Q121 - Q130 Preview 12:04

Realistic Exam 2: Questions 121 to 130

Practice Test 2 / Q131 - Q140 Preview 13:08

Realistic Exam 2: Questions 131 to 140

Practice Test 2 / Q141 - Q150 Preview 12:25

Realistic Exam 2: Questions 141 to 150

Practice Test 2 / Q151 - Q160 Preview 11:31

Realistic Exam 2: Questions 151 to 160

Practice Test 2 / Q161 - Q170 Preview 13:55

Realistic Exam 2: Questions 161 to 170

Practice Test 2 / Q171 - Q180 Preview 14:02

Realistic Exam 2: Questions 171 to 180

Learn how to claim your PDUs Preview 00:44

Learn how to claim your PDUs.

BONUS LECTURE Preview 00:45

Bonus lecture.