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Project Management Professional. 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.
A Basis of Estimate (BOE) is an analyzed and carefully calculated number that can be used for proposals, bidding on government contracts, and executing a project with a fully calculated budget. [2] The BOE is a tool, not just a simple calculation, it is created through careful analysis and intricate calculations that create a specific number ...
The point of total assumption ( PTA) is a point on the cost line of the profit-cost curve determined by the contract elements associated with a fixed price plus incentive-Firm Target (FPI) contract above which the seller effectively bears all the costs of a cost overrun. The seller bears all of the cost risk at PTA and beyond, due to a dollar ...
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
In the United States Department of Defense, the Integrated Master Plan ( IMP) and the Integrated Master Schedule (IMS) are important program management tools that provide significant assistance in the planning and scheduling of work efforts in large and complex materiel acquisitions. [1] The IMP is an event-driven plan that documents the ...
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