Hi Joshi,
managing a project typically includes balancing the competing project constraints.
And you are right this includes " Scope; Quality, Schedule, Budget, Rescoures and Risk.
The relationship among these factors is such that if any one factor changes, at least one other factor
is
likely to be affected.
So it is not a "hard link" that if you increase Quality to
X you are automatically able to calculate directly
that Time increases to
Y
So in terms of answering PMP questions you need to apply just logic here.
For example:
You can increase quality when you find out that your machine which is e.g. cutting steal for your project deliverable
needs to be slightly ajusted to improve quality. And this is done without costs.
But in
most of the cases the customer wants a higher target quality which is for example better material
for the deliverables and than costs will increase and
you need to make your customer aware of this increase
otherwise it is "gold plating" if you implement this free of charge.
Changing project requirements or objectives
may create additional risks but this is not a
must.
You will also find some information regarding this topic in the PMBOK (fifth edition) on page 6 (What is Project Management).
If you still need some help please feel free to come up with an "real live" example and I will help you.
Because in the PMP exam you need to answer mainly real live related questions.
Cheers
Sven