IFMA Exam CFM 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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25%

1 months 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

9 days 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

10 days 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

16 days 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 months ago

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

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1 months 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

24 days 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 months ago

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

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