PMP Exam Cram™ 2

Project Selection Accounting Concepts

One area, in particular, where much overlap exists between the Initiating and Planning processes is project selection. Earlier in this chapter, you reviewed the two general categories of project selection methods—benefit measurement methods and constrained optimization methods (refer to Table 3.1)—and the key elements of each that you need to know for the PMP exam.

Also, for the PMP exam, you will need to understand several cost accounting concepts that are frequently used when performing the project-selection process, especially any of the benefit measurement methods. You are not expected to be a cost accountant or even to perform the associated accounting calculations. However, you are expected to understand ...