Geosyntec Consultants’ Post

“Despite all our best efforts to control projects, the projects are still going over budget and finishing late. Oftentimes it’s a misunderstanding of the risks that are inherent in those projects.”- Mark Franklin. Drop a 👍 if you agree. If you are interested in reducing the possibility of delivering overoptimistic cost and schedule targets, boost the confidence in your project’s cost estimate or your schedule completion date, and increase the likelihood of your project success, join us inside the Cost & Schedule Risk Analysis online training here: https://lnkd.in/gt4vtbM #projectrisk, #riskassessment , #riskmanagement , #riskmitigation , #riskanalysis , #risks , #projectcontrols, #projectmanagement

“Despite all our best efforts to control projects, the projects are still going over budget and finishing late. Oftentimes it’s a misunderstanding of the risks that are inherent in those projects.”- Mark Franklin. Drop a 👍if you agree. If you are interested in reducing the possibility of delivering overoptimistic cost and schedule targets, boost the confidence in your project’s cost estimate or your schedule completion date, and increase the likelihood of your project success, join us inside the Cost & Schedule Risk Analysis online training here: https://lnkd.in/gt4vtbM #projectrisk, #riskassessment , #riskmanagement , #riskmitigation , #riskanalysis , #risks , #projectcontrols, #projectmanagement

📌 Do you assess risks in your delay analysis? 📌 Do you record delays in your risk register? 📌 Do you have a contingency fund for mitigating or accelerating delays? If your answer is NO, you need to watch this short video. 👇 On the side note, this video is a sneak peek of the presentation on “How to Proactively Impact Project Delivery in the Future Using Forensic Lessons from the Past”, presented by Chris Carson at the 𝟮𝟬𝟮𝟬 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗦𝘂𝗺𝗺𝗶𝘁. To get access to the full presentation and other recordings of the Project Control Summit, please visit https://lnkd.in/g8dCcnhc #scheduledelays, #projectcontrols, #projectmanagement, #projectcontroltraining, #planning, #scheduling, #delayanalysis

The correct answer is B. Explanation: The office is a physical project resource. Contacting the landlord requesting to rent the office for another week is a function of the Control Resources process. Control Resources is the process of ensuring that the physical resources assigned and allocated to the project are available as planned, as well as monitoring the planned versus actual utilization of resources and performing corrective action as necessary. In this case, the actual utilization of the office space will exceed the planned utilization. The resource management plan is a component of the project management plan that describes how project resources are acquired, allocated, monitored, and controlled. Updates to the resource management plan are an output of the Control Resources process. The plan may be updated to reflect actual experience in managing project resources. Therefore, among the available options, revising the resource management plan is what you should do next. Note, an approved change request will be required to update the resource management plan as it is a component of the project management plan. *Stop by at https://lnkd.in/gjCnFQf and try the PM Exam Simulator free for 7 days. #PMPexamprep #PMPsamplequestion #PMPexamsimulator

The correct answer is B. Explanation: The office is a physical project resource. Contacting the landlord requesting to rent the office for another week is a function of the Control Resources process. Control Resources is the process of ensuring that the physical resources assigned and allocated to the project are available as planned, as well as monitoring the planned versus actual utilization of resources and performing corrective action as necessary. In this case, the actual utilization of the office space will exceed the planned utilization. The resource management plan is a component of the project management plan that describes how project resources are acquired, allocated, monitored, and controlled. Updates to the resource management plan are an output of the Control Resources process. The plan may be updated to reflect actual experience in managing project resources. Therefore, among the available options, revising the resource management plan is what you should do next. Note, an approved change request will be required to update the resource management plan as it is a component of the project management plan. *Stop by at https://lnkd.in/gjCnFQf and try the PM Exam Simulator free for 7 days. #pmpexamprep #pmpsamplequestion #pmpexamsimulator

“Despite all our best efforts to control projects, the projects are still going over budget and finishing late. Oftentimes it’s a misunderstanding of the risks that are inherent in those projects.”- Mark Franklin. Drop a 👍if you agree. If you are interested in reducing the possibility of delivering overoptimistic cost and schedule targets, boost the confidence in your project’s cost estimate or your schedule completion date, and increase the likelihood of your project success, join us inside the Cost & Schedule Risk Analysis virtual training Bootcamp here: https://lnkd.in/gt4vtbM #projectrisk, #riskassessment , #riskmanagement , #riskmitigation , #riskanalysis , #risks , #projectcontrols, #projectmanagement

“Despite all our best efforts to control projects, the projects are still going over budget and finishing late. Oftentimes it’s a misunderstanding of the risks that are inherent in those projects.”- Mark Franklin. Drop a 👍if you agree. If you are interested in reducing the possibility of delivering overoptimistic cost and schedule targets, boost the confidence in your project’s cost estimate or your schedule completion date, and increase the likelihood of your project success, join us inside the Cost & Schedule Risk Analysis virtual training Bootcamp here: https://lnkd.in/gt4vtbM #projectrisk, #riskassessment , #riskmanagement , #riskmitigation , #riskanalysis , #risks ,

A. Record the issue in the issue log B. Revise the resource management plan C. Update the risk register D. Request additional funds HINT: What component of the project management plan should be updated in this scenario?

A. Record the issue in the issue log B. Revise the resource management plan C. Update the risk register D. Request additional funds HINT: What component of the project management plan should be updated in this scenario?

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