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//-->Expert Reference Series of White PapersTips and Techniques to®Pass the PMP Exam1-800-COURSESwww.globalknowledge.comTips and Techniques to Pass thePMP®ExamDan Stober, PMPIntroductionPassing the Project Management Professional (PMP)® certification exam can seem like a daunting task whenproject managers first decide to take the leap. Just like a project management plan, if you carefully map out yourstudy plan, you will be successful. You must understand several key concepts, be intimately familiar with the fiveprocess groups and ten knowledge areas, understand project management terminology, and learn to think likePMI. It is also important to set study goals, create a schedule for success, and commit fully to passing the examin order to obtain your PMP® credential. Following the best practices outlined here can put you on the road tocertification and will have you prepared for your PMP® Boot Camp. Everything that you need to understandprior to Boot Camp is listed here.TerminologyThere is a large volume of terminology associated with project management, but there are some key terms thatyou must be aware of as you are preparing for your exam. Learning these terms before your PMP® Boot Campwill have you ahead of the game and not playing catch-up (these definitions are not taken word for word fromthePMBOK Guide®, 5th Edition):Analogous Estimating:Estimating based on a previous, similar activity or project. Think of it as making ananalogy; comparing two similar things.Baseline:An approved plan that provides a point of comparison for actual performance. The baseline includesboth the original plan and all approved changes, and can only be modified on the basis of formally approvedchanges via the established change control process.Change Control System:The formal and documented system on how changes to the project will be identi-fied, evaluated, and approved or rejected. It is part of the Configuration Management System and is the ap-proved way to make changes to project deliverables or documentation.Contingency Reserve:The amount of funds or time needed above the estimate to deal with known-un-knowns. This is set aside to reduce the risk of going over budget or schedule.Copyright ©2013 Global Knowledge Training LLC. All rights reserved.2Critical Path:The longest time path through the project’s activities workflow (that is, the schedule networkdiagram).Crashing:A schedule compression technique that focuses on the critical path and attempts to reduce its dura-tion by adding resources to those activities.Earned Value Management:A management methodology that provides a means for evaluating the inte-grated performance of cost, schedule, and scope to determine both the current project status and to forecastfuture project performance.Fast Tracking:Conducting work in parallel that would normally be done in sequence. This is a way to com-press the schedule when your project is falling behind schedule.Functional Organization:The traditional work organization where employees are grouped by specializeddepartments, i.e., accounting, marketing, operations, which are led by a department manager.Matrix Organization:An organizational structure where project managers share responsibility with function-al managers for assigning and prioritizing work. This is where project managers and functional managers shareresources. A strong matrix organization yields more control of resources to the project manager. A balancedmatrix organization is one where the functional manager and project manager have nearly equal authority overresources, but the responsibility for performance evaluation and discipline remain with the functional manager.A weak matrix organization is an organization where functional managers retain authority over resources andthose resources may be dedicated to the project only on a part-time basis. For the purpose of the PMP® exam,always assume that any questions related to a matrix organizational structure are asked from the perspective ofa balanced matrix, unless explicitly stated otherwise.Parametric Estimating:An estimating technique that uses historical data to establish a measurable unitthat can be used to calculate an estimate for a similar project. This is like saying it cost $5.00 per square foot toinstall flooring in the last factory we built, so the cost should be similar this time because the project is similar,so with 5,000 square feet of flooring to install, then the cost should be $25,000.Portfolio:A collection of projects or programs and other work that are managed as a group in order to achievea strategic business objective.Program:A group of related projects, subprograms, and program activities that are managed together toachieve efficiency, control, and unity of effort that could not be achieved by managing them separately.Progressive Elaboration:Continuous refinement and improvement of a plan as more information becomesavailable. This is how you get the most complete and accurate plan.Copyright ©2013 Global Knowledge Training LLC. All rights reserved.3Risk:An uncertain event or condition that can have an impact on the project’s objectives. The impact can bepositive or negative.Scope:The sum of the products, services, or results to be delivered as a project. What the project is supposed toaccomplish.Statement of Work (SOW):A narrative description of products, services, or results to be delivered.Variance:A quantifiable deviation that is measureable against an established baseline or value. Once identi-fied, a variance is analyzed to determine the cause so that steps can be determined to bring performance backin line with the plan.Work Breakdown Structure (WBS):A hierarchal decomposition of the work to be executed by the projectteam to accomplish all the project work and achieve the project’s objectives.This list is not all encompassing, but if you know these basic terms, you will be well on your way to certification.Passing the PMP® exam is the end goal, but it is important to remember the requirement for 35 contact hoursof instruction that you need to sit for the exam. Knowing project management terminology prior to gettingthose 35 hours will make the academic portion of the requirements much more manageable.Earned Value Management (EVM)Dealing with numbers is something that most project managers are accustomed to. In order to pass the PMPExam, you have to be comfortable with earned value management (EVM). EVM is nothing more than a way tomonitor and control the costs of your project. As project managers, we have a responsibility to keep the projecton schedule and on budget. Understanding these concepts ahead of PMP® Boot Camp will ensure success:Planned Value (PV):This is the authorized budget assigned for the work to be performed at a point in time.This is equal to the Budget at Complete (BAC) at the end of the project plan.Earned Value (EV):The value of the work that has been completed to date in terms of the approved budgetfor that item of work.Actual Cost (AC):The actual amount of money spent to accomplish all of the work performed to date. This canbe direct costs only or direct and indirect costs together.Schedule Variance (SV):The difference between the Earned Value and the Planned Value. The formula isSV=EV-PV.An SV of zero means you are on schedule. An SV that is negative is bad. An SV that is positive isgood. This is easy to remember. Negative is bad. Positive is good. If you are positive, you are ahead of schedule.This calculation and the SPI determination below are relative to the schedule for creating value in the project,not the calendar-based schedule.Copyright ©2013 Global Knowledge Training LLC. All rights reserved.4Cost Variance (CV):The difference between Earned Value and Actual Cost. The formula isCV=EV-AC.A CVthat is negative is bad. A CV that is positive is good. This is also easy to remember. If you have a positive num-ber, you are under budget.Schedule Performance Index (SPI):The SPI reflects the relative amount the project is ahead of or behindschedule as a ratio. The formula is almost the same as SV, except here you divide EV by PV. The formula isSPI=EV/PV.An SPI greater than one is good. An SPI of less than one is bad. If EV is currently at $100.00 and PVis $80.00, then you have an SPI of 1.25 and you are ahead of schedule.Cost Performance Index (CPI):The CPI is the ratio of the approved budget for work performed to what youactually spent for the work. The formula is almost the same as CV, except here you divide EV by AC. The formulaisCPI=EV/AC.A CPI greater than one is good. A CPI of less than one is bad. If EV is currently at $80.00 and ACis at $100.00, then you have a CPI of 0.80 and you are over budget.These are the very basic EVM terms and formulas that you should be familiar with before you take your BootCamp. If you go into your 35 contact hours and already know these EVM concepts, the rest of EVM will be easyto understand and master.The Five Process GroupsLearning the five process groups outlined inA Guide to the Project Management Body of Knowledge (PMBOKGuide®), Fifth Edition,is essential for success. It is not enough to be able to list what the process groups are;you also need to know what each group is designed to accomplish.Initiating:This is the process group where all the information to get the project started and authorized is as-sembled. Here, the project must be acknowledged by the creation of a project charter, and a stakeholder registeris created as stakeholders are identified. There are two processes in the initiating process group.Planning:As evidenced by the name of the process group, the planning process group is all about comingup with the plans that will guide and sustain your project. This process group has 24 processes, nine of whichinvolve developing the subordinate management plans that support the overall project management plan.Executing:The executing process group is all about getting the teams that are working on the project to ac-complish the project work according to the project management plan. Work needs to be done within scope andwithin the agreed-upon schedule and budget. There are eight processes in the executing process group.Monitoring and Controlling:This is the process group where performance is measured, risks are respondedto, and the deliverable of the project itself is validated. This is also where project managers verify that approvedchanges have been integrated into the deliverable and project management plan. The monitoring and control-ling process group has eleven processes.Copyright ©2013 Global Knowledge Training LLC. All rights reserved.5 [ Pobierz całość w formacie PDF ]