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ARE 5.0 Project Management Exam Prep

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Scope Creep

12m 33s

In this ARE 5.0 Project Management Exam Prep course you will learn about the topics covered in the ARE 5.0 PjM exam division. A complete and comprehensive curriculum, this course will touch on each of the NCARB objectives for the ARE 5.0 Project Management Exam.

Instructor Mike Newman will discuss issues related to office standards, development of project teams and overall project control of client, fee and risk management.

When you are done with this course, you will have a thorough understanding of the content covered in the ARE 5.0 Project Management Exam including quality control, project team configuration and project scheduling.

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But in a typical situation, where we've got a little bit of adaptive re-use, and a little bit of new construction, something along 10 percent, that's probably a reasonable, maybe five percent if we feel pretty comfortable with how much information we have, but we're gonna add those numbers together, and we're just gonna call that out as the contingency, and then we're gonna say yeah, what we were saying was, that was our budget, but what we're really saying our budget is, is that number, right, that's the 1.1 million, because we added 10 percent as a contingency. So that way we go to the bank, and we get the loan, we're getting the loan for the 1.1 million, for an amount of money that we think is gonna have enough extra in it, that it's gonna cover all those sort of unexpected moments. So, like I said, maybe that's 10 percent in certain situations, maybe it's a little bit more of a known situation, so you're not so worried about it, maybe that's five percent for the contingency.

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From the course:
ARE 5.0 Project Management Exam Prep

Duration: 15h 26m

Author: Mike Newman