IFMA CFM Exam - Topic 4 Question 3 Discussion

Actual exam question for IFMA's CFM exam

Question #: 3
Topic #: 4

[All CFM Questions]

You are looking for ways to bring a project plan in on budget and on time. The project is still in the planning phase. At this time, the project's staffing is set up to be contracted for everything except project management. You think that human resources might be a constraint that you could change to re-balance the project's budget. Where would you look for human resources that would help bring down the project budget?

AUse students and volunteer labor. Since these individuals work without payment, they will extend your workforce and accomplish the work under close supervision of skilled staff.

BPlan to have 24x7 shifts. This will decrease the time length of the project, which will cut the staffing requirements.

CAsk contractors to cut their staffing model to match your budget. Contractors tend to over-budget staff as a way to build in contingency.

DUse in-house staff that either have the desired skills or are seeking to develop skills and experiences. This may mean negotiating trade-offs with other projects or departments.

Show Suggested Answer

Suggested Answer: D

Using in-house staff with relevant skills or development interests is the most practical and cost-effective way to manage the project budget. This approach:

Reduces external labor costs by leveraging existing workforce.

Enhances staff skill development, improving organizational competency.

Balances workload across departments, ensuring optimal resource use.

While students and volunteers (A) lack reliability and expertise, 24x7 shifts (B) may lead to burnout and inefficiency. Asking contractors to cut staff (C) can compromise quality and lead to project delays.

by Shantell at Mar 08, 2025, 12:53 AM

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Karma

4 months ago

Totally agree with the volunteer idea, it could really help the community too!

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Mammie

5 months ago

24x7 shifts? That sounds exhausting and might lead to burnout.

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Glory

5 months ago

In-house staff could be a smart move, but what about their current workload?

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Tina

5 months ago

I disagree, you might not get the quality you need.

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Pansy

5 months ago

Using students sounds like a great way to save money!

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Sol

5 months ago

Asking contractors to cut their staffing model sounds risky. I recall a case study where that led to project delays because they didn't have enough skilled workers.

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Talia

6 months ago

I practiced a similar question where we had to balance time and budget. I feel like having 24x7 shifts might just lead to burnout and not really save costs in the long run.

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Tracie

6 months ago

I think using students and volunteers could be a good option, but I worry about the quality of work and supervision needed.

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Marvel

6 months ago

I remember discussing the benefits of using in-house staff in class, but I'm not sure if negotiating with other departments is always feasible.

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Chuck

6 months ago

24x7 shifts could work, but that might add other costs like overtime and increased supervision. I'd want to really crunch the numbers to see if that's the best approach.

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Kimbery

6 months ago

I like the idea of asking contractors to adjust their staffing model. They may have built in some extra cushion, so it's worth exploring if they can trim that down to fit the budget.

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Eva

6 months ago

Hmm, using students and volunteers seems risky to me. I'd be worried about the lack of experience and the need for close supervision. Maybe looking at in-house staff is a better option, but that could create issues with other projects.

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Portia

6 months ago

This is a tricky one. I'd want to look closely at the project plan and staffing model to see where I could potentially reduce costs without compromising the quality of the work.

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Beth

1 year ago

I'm with Lina on this one. Option D is the way to go - leveraging your existing talent pool is a great strategy.

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Luis

11 months ago

Using students and volunteer labor could be a good option too. It's cost-effective and can help get the job done.

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Dean

11 months ago

I think asking contractors to cut their staffing model could also work. It's worth a shot.

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Davida

11 months ago

I agree, using in-house staff is a smart move. It can save a lot of money.

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Simona

1 year ago

Using in-house staff with the desired skills seems like a good option too.

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Herminia

1 year ago

I prefer asking contractors to cut their staffing model to match our budget.

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Shalon

1 year ago

That's a good idea, but we also need to make sure they are supervised properly.

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Charlene

1 year ago

Haha, good luck getting contractors to take a pay cut! Option C is a bit of a stretch in my opinion.

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Lou

1 year ago

24x7 shifts might work, but that could lead to burnout and reduced productivity. I'd be cautious about option B.

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Moira

1 year ago

D) Use in-house staff that either have the desired skills or are seeking to develop skills and experiences. This may mean negotiating trade-offs with other projects or departments.

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Wenona

1 year ago

C) Ask contractors to cut their staffing model to match your budget. Contractors tend to over-budget staff as a way to build in contingency.

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Amie

1 year ago

A) Use students and volunteer labor. Since these individuals work without payment, they will extend your workforce and accomplish the work under close supervision of skilled staff.

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Whitney

1 year ago

I think we should consider using students and volunteer labor to save costs.

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Lavonne

1 year ago

I'm not sure about option A. Using students and volunteers could be risky - we need experienced, reliable resources to ensure the project's success.

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Mireya

1 year ago

Let's consider negotiating trade-offs with other projects or departments to make this work.

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Kirk

1 year ago

I agree. It's important to balance cost savings with the need for experienced resources.

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Yvette

1 year ago

That's a good point. It could help us save on costs while still ensuring the project's success.

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Veronica

1 year ago

I think option D could work. We can use in-house staff who are looking to develop their skills.

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Lina

1 year ago

Option D seems like the best choice here. Using in-house staff with the right skills or who are looking to gain experience is a smart way to keep the project budget in check.

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Ahmed

1 year ago

It's a good idea to negotiate trade-offs with other projects or departments to make it work.

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Regenia

1 year ago

I agree, using in-house staff can definitely help keep costs down.

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