Not From PMBOK

Question 1

What are the 2 types of analysis for project selection?

Answer 1

Benefit Measurement (comparative approach)
Constrained Optimization (Mathematical Approach)

• Note: often managed as a distinct phase

Question 2

What are examples of Benefit Measurement?

Answer 2

Scoring Board (aka Murder Board), Cost-Benefit Anlaysis, Review Board, Economic Models

Question 3

What are examples of Constrained Optimization?

Answer 3

Linear Programming, Non-linear Programming, integer programming, dynamic programming, multi-objective programming

Question 4

What does BCR an abbreviation of and what is it?

Answer 4

Benefit Cost Ratio.

• It is used to dtermine the value of a project and is expressed as a ratio 1:3
• Used as a Tool in Plan Quality Management
• if cost is greater than project value it’s unfavorable