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50 SECRETS OF THE PMP EXAM ®
Management Professional Professional ((PMP) PMP)® Certication from the Project The Project Project Management Management Institute (PMI) is one of the top ve in-demand certications for 2013. 1 It’s also one of the most challenging certication exams to pass. The industry is littered with tales of earnest PMP seekers who thought they studied enough, prepared enough and were experienced enough to pass the test, but who failed miserably—sometimes more than once. Informal polls indicate that as many as 40 percent don’t pass on the rst try. Y ou don’t have to be one of the 40 percent. Kicking off with overall project management concepts and then organized by each of the 10 Knowledge Areas, we’ve we’ve compiled must-know must-know PMP Exam tips, tricks tri cks and strategies on everything from: which pages of A of A Guide Guide to the Project Project Management Management Body of of Knowledge Knowledge (PMBOK ® Guide) matter most;
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areas of the PMBOK ® Guide Guide that that merit a second read;
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various memory joggers and easy to memorize formulas;
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key terms, confusing terms and terms to avoid; and
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much, much more!
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Whether you are considering taking the exam for your rst time or you’re going back at it for another try, these 50 Secrets of the PMP® Exam will help you stay ahead of the curve and Fast Track Your Way to PMP SUCCESS!
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What You Need to Know:
Project Management Concepts
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When you see questions When
Page 61 of the PMBOK ® Page
For the exam, you must For
You Y ou need to be able ab le to
on the exam regarding
Guide is Guide is critical. The table
assume proper project
identify what you are not
organizational structure,
on this page shows the
planning was done before
doing, or what you are doing
be sure you know which
relationship between each
the project work began.
wrong in the real world and
structure the question is
process and its associated
You You need to get your mind
leave those practices at the
related to. The right answer
Knowledge Area and
around the critical difference
door. You You will be p penalized enalized
will depend on it.
Process Group. You should
planning makes and assume
in the exam if you follow any
memorize this page. In
the project has been
poor real-world practices.
many cases, the majority
properly planned as you
You You want to keep the
of the exam questions will
answer the questions. It is
words “work to the project
be related in some way to
surprising how few project
management plan,” “be
having knowledge about
managers create a realistic
proactive,” “manage,” and
the Process Groups and
plan or get it ofcially
“guide,” in mind as a way
Knowledge Areas.
approved. That’s a huge
to summarize executing
mistake, whether on the
activities while you take the
exam or in the real world.
exam. This frame of mind will ensure you have your PMI® hat on when taking the exam.
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The First Knowledge Area:
Project Integration Management 5 Here is a trick to understanding the topic of management plans for the exam. Know that management plans look forward in time, and that there are management plans for most knowledge areas:
Scope
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Schedule
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Cost
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Quality
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Human Resources
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Communications
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Risk
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Procurement Management
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Stakeholder Management
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erms. If the exam refers tto o Direct and Manage Project Work, it is NOT NOT referencing the 6 Take notice of these confusing tterms. entire executing process group. Instead, it is just refering to the int integration egration piece of executing. important tant topic to know. know. Approximately 10 percent of the exam questions touch on this 7 Integrated change control is an impor one topic from different angles.
8 Be sure to remember that as project manager you always close out a project, no matter the circumstances under which it stops, is terminated or is completed. Guide mentions mentions “Expert Judgment”, do not assume it is referring to an executive decision being 9 Whenever the PMBOK ® Guide taken by the project manager. Expert judgment is usually obtained from the subject matter experts and this may include the project manager.
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The Second Knowledge Area:
Project Scope Management the q The Dene Scope process is important on the exam for the following reasons:
Project managers complain about unrealistic schedule and do not realize
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the unrealistic schedules are their fault because they have not followed the iterations process described previously.
Project managers spend a large portion of their time, while the work is being done, looking for options to adjust the
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project and still meet the project schedule and budget. Therefore, all the tools used in planning to come up with a realistic budget, such as negotiating scope and fast tracking, are also major activities while the work is being done.
w Project scope is the work that is required to be completed. Always remember; scope = work. e Always remember that the scope management plan doesn’t contain the project scope. The scope management plan is a project plan that tells how scope will be identied, managed and controlled. ools and techniques associated with the Collect Requirements process. The PMBOK ® Guide Guide does does not r There are many ttools discuss these tools and techniques in great detail. While these tools and techniques may not explicitly be mentioned in the PMBOK ® Guide Guide,, it is valuable to familiarize yourself with them. performe d for every project deliverable, or a group of deliverable deliverables, s, presented to t The Validate Scope process should be performed
3 the customer or sponsor.
The Third Knowledge Area:
Project Time Management y You MUST memorize these formulas and know that they can be used for both time and cost estimates.
Expected Activity Activity Duration (PERT) = (P + 4M 4M+ + O) / 6
Activity Standar S tandard d Deviation = ((P-O)/6 P-O)/6
Activity Variance = [(P-O)/6]2
single- point estimate per activity used on o n the exam. This method is not always best, but it is u You will frequently see a single-point an easier way to improve your understanding of nding critical paths and drawing network diagrams. Using single-point estimates also allows for quick calculations and proof that you understand those concepts.
i The Plan Schedule Management process produces the project’s schedule management plan. It does not contain the project’s schedule. It only describes how the project’s schedule will be developed, managed and controlled.
Guide does does not mention it, Analogous Estimating is also referred to as “Top-Down Estimating”. o Although the PMBOK ® Guide comfortable table with the Critical Chain Method. While it may not explicitly be mentioned in the PMBOK ® Guide Guide,, p Become very comfor it is valuable to familiarize yourself with examples. 50 Secrets to the PMP® Exam
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The Fourth Knowledge Area:
Project Cost Management o MEMORIZE the following: a Make sure tto
Rough Order of Magnitude (ROM) Estimate
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- This type of estimate is usually made during the initiating process. - A typical ty pical ROM estimate e stimate range is ffrom rom -25% tto o +75% +75% from
actual, but this range can vary depending on how much is known about the project when creating the estimates.
Budget Estimate
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- This type of estimate is usually made during the planning phase and is in the rang range e of -10% -10% to +25% +25% from actual.
Defnitive Estimate
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- Later during the project, the estimate will become more rened. Some project managers use the range of +/- 10% from actual, while whil e others use -5% - 5% to +10% +10% from actual.
estimate,, as dened by the current PMBOK ® Guide Guide - Fif th Edition, is in the range of -25% to +75 +75%. %. The olde olderr s The ROM estimate PMBOK ® Guide Guide - Fourth Edition dened it to be in the range of -50% to +50%. Remember the correct ROM is in the range of -25% to +75%. 1.0 are desirable, values greater d Be very careful when interpreting the SPI and CPI values. Although values greater than 1.0 than 1.5 mean the project was not properly estimated earlier.
f Understand the concepts behind the EAC formulas. This will help you select the right formula to crack a question on your exam. 224 4 of the PMBOK ® Guide Guide is is critical; it summarizes all the earned value formulas. Memorize these formulas and do g Page 22 a brain-dump on a piece of paper before you begin your exam.
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The Fifth Knowledge Area:
Project Quality Management Remembering g the following phrases about Pareto charts should h Rememberin help you on the exam:
Help focus attention on the most critical issues.
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Prioritize potential “causes” of the problems.
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Separate the critical few from the uncritical many.
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difference nce between grade and quality. Grade refers to the characteristics of a product, while quality refers j Remember the differe to conformance to customer requirements.
he k Precision is different than accuracy. Accuracy is the closeness of a measure against the target, while precision is tthe closeness of the repeated measurements with each other.
Guide lists lists many quality management techniques, but not all are covered in great detail. While these l The PMBOK ® Guide techniques may not explicitly be mentioned in the PMBOK ® Guide Guide,, it is valuable to familiarize yourself with them.
The Sixth Knowledge Area:
Project Human Resource Management ; The following describes the seven sources of conict in order of frequency. MEMORIZE the top four and remember that Personality is last.
1. Schedule
2. Project priorities 3. Resources
5. Administrative procedures proced ures 6. Cost 7. Personality
Technical opinions op inions 4. Technical
Guide doesn’t doesn’t discuss organizational theory in much detail. However, expect some questions on this area. z The PMBOK ® Guide While this may not explicitly be mentioned in the PMBOK ® Guide Guide,, it is valuable to familiarize yourself with organizational
theory. important tant to understand Tuckman’s Tuckman’s Ladder or the Tuckman’ Tuckman’s sT Team eam Development Stag Stages. es. There will almost x It is very impor certainly be a question on the PMP exam around it. virtual tual teams are two totally totally opposite techniques. You must understand the pros and cons of both, both, and c Co-location and vir be able to identify the most suitable option for any given situation. Guide where where interpersonal skills are covered in great detail. v Do not forget to read Appendix X3 in the PMBOK ® Guide
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The Seventh Knowledge Area:
Project Communications Management importa portant nt to know the communications channel formula: b It is im N * (N-1) / 2 where N=number of people.
10.4) and sequence n Review the basic communication model (Figure 10.4) of steps involved in the model as outlined in the Project Communications Management section of the PMBOK ® Guide Guide..
Be aware that a new step, acknowledgement of the message by the receiver, has been included.
m Don’t forget that two processes, Manage Communications and Control Communications, have been renamed and this knowledge area has been split to create a new knowledge area named Project Stakeholder Management.
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The Eigth Knowledge Area:
Project Risk Management , Avoid and/or be aware of the following Risk Management Errors: Risk identication is completed without knowing enough about
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the project.
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Risk identication ends too soon, resulting in a brief list rather than an extensive list.
The The processes proces ses of Identif Identifyy Risks through Perform Perfo rm Quantitative Risk Analysis Ana lysis are blend blended, ed, resulting in risks that are
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evaluated or judged as they come to light. This decreases the number of total risks identied and causes people to stop participating in risk identication.
The The risks identied identie d are gene general ral rather than specic. spe cic.
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Some things considered to be risks are not uncertain; they are facts, and are therefore not risks.
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Whole categories (technology, cultural, marketplace, etc.) of risks are missed.
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Only one method is used to identify risks rather than a combination of methods. A combination helps ensure that more
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risks are identied. n
The rst risk response re sponse strategy identied identie d is selected without withou t looking at other options a and nd nding the best option optio n or The combination of options.
Risk management is not given enough attention during project executing.
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Project managers do not explain the risk management process to their team during project planning.
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. Notice that an updated risk register is the only output of several of the risk management processes. Read exam questions carefully, as the risk register contains different information depending on when in the risk management process the question is referencing.
/ Remember that the Delphi technique is preferred when inuential stakeholders can introduce bias into the risk data. Q Remember that the Perform Qualitative Risks analysis is quicker, but less accurate than the Perform Quantitative Risk Analysis process. proce ss. You can expect to see questions W Practice the expected monetary value analysis and decision tree analysis techniques. You which cover these techniques on the exam.
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9 10 The Ninth Knowledge Area:
Project Procurement Management servic es and/or E In practice, the company or person who provides services goods can ca n be called a “contractor,” “contractor,” “subcontractor,” “designer,” “designer,”
or other titles. The PMBOK ® Guide Guide uses uses only one term, “seller “selle r,” but the exam may use any of these terms to describe the seller.
The company or person who purcha purchases ses the services ser vices is cal called led the “buyer.”
differences nces and in R There are three basic types of contracts. Each one has its place and use. You must understand the differe particular how different contract types determine the nal costs of a contract.
typica l components of a procurement agreement. T Memorize the typical
Y Remember that the contract change control procedures are usually documented in the procurement agreements. U Always remember that negotiation is the preferred procurement conict resolution technique.
The Tenth Knowledge Area:
Project Stakeholder Management I The project stakeholders’ inuence is at its maximum during the start of the project and reduces gradually as the project progresses.
O The Identify Stakeholders process is an initiating process. However, it must be periodically revisited to ensure that the project’s Stakeholder Register is always up to date.
Power/Interest /Interest Grid given in the PMBOK ® Guide Guide P Memorize the Power page 397. There will most certainly be questions that pertain to this grid on the exam.
A Remember that the rst step in stakeholder conict management is to capture the issue in the project’s issue log.
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Y You’ve ou’ve Got the Tips. Now What? These invaluable insights into the PMP Exam are just one tool that you should leverage on your journey towards becoming
a Certied Project Projec t Management Professional. They will not help you pass tthe he exam on their own. own. To ensure your success on the rst try, consider a dedicated prep course designed to break down the
PMBOK ® Guide and
build on your real-world
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project management training from one of our most popular and longest-running courses with a fresh approach to exam preparation. PMP Prep Fast T Track rack is packed with exercises, practice exams and study aids to ensure you successfully earn the industry’s most sought-after credential. As each of the 10 project management manag ement Knowledge Knowledg e Areas in the
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ABOUT CEG Corporate Education Group (CEG) trains, consults and coaches individuals and teams to help organizations unlock business value by optimizing employee and organizational performance. Solutions in project management, business analysis, business process management, and leadership and management can be tailored to address clients’ unique challenges and delivered virtually, on demand or locally, fostering development for professionals everywhere. Through our strategic alliance with Duke University Management Training, CEG offers premiere certicate programs backed by a renowned higher-education institution. CEG is a Charter Global Registered Education Provider for PMI, a Member of PMI’s Global Executive Council, an Endorsed Education Provider for International Institute of Business Analysis™ (IIBA ®) and an APM Group (APMG) Accredited Training Organization (ATO) for PRINCE2®. For information and public class schedules visit www.corpedgroup.com, LinkedIn www.corpedgroup.com, LinkedIn or or Facebook and and follow CEG on Twitter on Twitter @CorpEdGroup.
1. T Tech ech Repu blic, blic, techrepublic.com techrepublic.com,, D December ecember 2012 2012.. 2. Click here for terms and conditions. conditions. 3. Project Management Institute, Project Management Talent Gap Report, March 2013.
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