CSM Forum Banner

Silly question

Discuss PMP doubts, tips and lesson learned. iZenBridge makes PMP® Certification easy
taterarpit
Contributor
Contributor
Posts: 111
Joined: Sat Jul 26, 2014 6:42 pm

Silly question

Postby taterarpit Thu Aug 14, 2014 2:49 pm

i was reading opportunity cost and a question clicked....opportunity cost is the cost of the project which was not selected so if we have more than two projects , in that case opportunity cost would be the sum of both the project not selected or opportunity cost is just considered when we have only two projects to select from?
namita
Super Member
Super Member
Posts: 502
Joined: Wed Dec 11, 2013 10:25 am

Re: Silly question

Postby namita Thu Aug 14, 2014 4:53 pm

Opportunity talks about alternative and alternative can be one... its The profit foregone by selecting one alternative over another

Now if we have 3 projects say A, B and C, and we decided to select A then we need to see 2 things

Out of B & C which one would have given more importance if A would not have selected... and that will become opportunity cost

If in case both are exactly equivalent ( its almost impossible) in that case I suppose we can take with higher value as opportunity cost
User avatar
saket
Site Admin
Site Admin
Posts: 3125
Joined: Sat Dec 07, 2013 10:37 pm

Re: Silly question

Postby saket Fri Aug 15, 2014 12:53 am

Old thread on same topic can be found here...

viewtopic.php?f=10&t=1067&p=3666

I have done some changes in search settings now the search feature of this forum should work more effectively. Just searching opportunity will give threads related to it.
Explore our online PMP Program , it makes PMP Easy :-) http://goo.gl/ZmD3xF

Image Image Image Image
taterarpit
Contributor
Contributor
Posts: 111
Joined: Sat Jul 26, 2014 6:42 pm

Re: Silly question

Postby taterarpit Sat Aug 16, 2014 2:26 pm

Thanks a lot Namitha....
namita
Super Member
Super Member
Posts: 502
Joined: Wed Dec 11, 2013 10:25 am

Re: Silly question

Postby namita Mon Aug 18, 2014 1:32 pm

Welcome..

BTW no question is silly :)

Return to “PMP® Open Forum”

Who is online

Users browsing this forum: Bing [Bot] and 5 guests