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ARE 5.0 Project Management Exam Prep

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Stages of Budgeting

19m 2s

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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In a bigger firm where people tend to be more specialized then you might have people who are different people at each of the different phases, it's gonna depend on the situation, depend on the kind of project, the kind of firm, all of that, but the gist of the situation here is we're keeping track of the flow of the money that's going out in terms of the billable hours and therefore checking it against the flow of the money coming in in terms of our billings and we're billing through schematic design, design and development, contract documents, so there's a set way that we have to bill at and we don't wanna get too far ahead of that or especially by the end we wanna be reasonably close to that number. When you look at that 100,000 dollar number it should include some idea of overhead and profit in it. So it's not that if we, you know, come in at 102,000 that oh my god, we just lost 2,000 dollars, but what it means is we didn't make any of that money, that overhead in profit got eaten away in our overage.

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From the course:
ARE 5.0 Project Management Exam Prep

Duration: 15h 26m

Author: Mike Newman