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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?

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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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Beth
2 months 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
23 days 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
24 days ago
I think asking contractors to cut their staffing model could also work. It's worth a shot.
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Davida
1 months ago
I agree, using in-house staff is a smart move. It can save a lot of money.
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Simona
2 months ago
Using in-house staff with the desired skills seems like a good option too.
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Herminia
2 months ago
I prefer asking contractors to cut their staffing model to match our budget.
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Shalon
3 months ago
That's a good idea, but we also need to make sure they are supervised properly.
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Charlene
3 months 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
3 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
2 months 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
2 months 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
2 months 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
3 months ago
I think we should consider using students and volunteer labor to save costs.
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Lavonne
3 months 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
2 months ago
Let's consider negotiating trade-offs with other projects or departments to make this work.
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Kirk
2 months ago
I agree. It's important to balance cost savings with the need for experienced resources.
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Yvette
2 months 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
2 months 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
3 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
2 months ago
It's a good idea to negotiate trade-offs with other projects or departments to make it work.
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Regenia
3 months ago
I agree, using in-house staff can definitely help keep costs down.
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