Welcome!

PMHub now offers you the benefit of daily guidance to help you stay on the road to success with the project management exam or to sharpen and exercise the project management skills you already possess. Each edition of the PMHub/Crosswind Tip of the Day will give you a question of the day, daily terminology booster, and links to other helpful tools that will prepare you for exam success.

Question of the Day

The retail chain is using a vendor to provide engineers for a security camera network design and implementation. The sellers are receiving a very detailed description of the work that is anticipated to be involved in the project. What type of Scope of Work is being provided to the sellers?

A) Functionality

B) Design

C) Analogous

D) Cost Plus

Terminology of the Day

Project Procurement Manag

The process of attaining goods and services for a project from outside the organization

Answer and Explanation to Yesterday's Question

The software company has been awarded a $100M US contract to build an enterprise application for the military. The company understands that there is a small company that has a product that complements theirs that the military will likely need to work with as well. The software company decides to acquire the complementary company to offer a more complete solution to the military. This is an example of what type of risk response strategy?

A) Exploit (Correct)

B) Share

C) Mitigate

D) Accept

Explanation: Exploiting the risk is to do things to grow or expand the positive aspects of the risk. Sharing the risk is to work with someone else to maximize the risk. Mitigate would attempt to minimize the bad or maximize the good impact of the risk. Accepting the risk would be to tolerate whatever happened.

For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at http://www.crosswindpm.com/