Project Management Professional (PMP) Exam Preparation, Questions and answers, 100% Accurate.

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Project Management Professional (PMP) Exam Preparation, Questions and answers, 100% Accurate. Process - ✔✔-A package of inputs, tools, and outputs used together to perform something valuable ... and necessary for a project. How many unique PMI processes are there? - ✔✔-There are 49 unique PMI processes covered on the PMP exam. Project - ✔✔-A time-limited undertaking to deliver a unique product, service, or outcome. - "Time-limited" means that this is temporary and will not go on indefinitely - "Unique" means this has never been done by the PERFORMING ORGANIZATION. Program - ✔✔-A group of related projects, managed together, usually to realize some common efficiencies. Programs often include ongoing operations, which individual projects do not have. Portfolio - ✔✔-A group of programs and projects intended to achieve a business result. A portfolio usually refers to all of the programs and projects (investments) in an organization. What are the six project phases? - ✔✔-Six project phases (in order of performance, see page 26 in the textbook): 1) Conceptual 2) Planning 3) Construction 4) Testing 5) Implementation 6) Closure Project Life Cycle - ✔✔-The phases that a project typically goes through. The phases are general, but they show the expected flow of activities on a project (see page 26 of textbook). Kill Point/Exit Gate - ✔✔-A review that takes place at the end of a project phase. Projects go through phase-end reviews to determine: 1) If the project should continue, and 2) If it should progress to the next phase. Progressive Elaboration - ✔✔-A popular concept in project management that project details will often be revisited and refined. It indicates that: - Everything is not known up front, and - that processes, assumptions, requirements, and decisions are reviewed and adjusted throughout the life of the project. Project Management - ✔✔-The use of knowledge, skills, and resources to accomplish the requirements of the project. Historical Information - ✔✔-Organizational process assets - in particular, records that have been kept on prior projects. Benchmark current projects, resource usage, lessons learned, useful in planning activities, prevent repeated mistakes. Baseline - ✔✔-The original plan plus all approved changes. The current plan by which project performance is measured, in terms of scope, schedule, and cost. Lessons Learned - ✔✔-What you would have done differently to avoid variances between what was planned to happen and what actually happened in a project or phase. An organizational process asset useful in planning current and future projects or phases. System - ✔✔-The rules, processes, procedures, people, and other elements that support an outcome or process. Several are defined in project management, including the Project Management Information System, the Change Control System, and the Work Authorization System. Project Manager - ✔✔-The person ultimately responsible for the outcome of the project. They are: - Formally empowered to use organizational resources - in control of the project - authorized to spend the project's budget - authorized to make decisions for the project. Typically found in a matrix or projectized organization. Project Coordinator - ✔✔-In some organizations, project managers do not exist, and use this role instead. Significantly weaker than a project manager. This person may not be allowed to make budget decisions or overall project decisions, but they have some authority to reassign resources. Usually found in weak matrix or functional organizations. Project Expeditor - ✔✔-The weakest of the three project management roles, a staff assistant who has little or no formal authority. Primary responsibility lies in making sure things arrive on time/tasks are completed on time. Usually found in a functional organization. Senior Management - ✔✔-Anyone more senior than the project manager. Their role in the project is to help prioritize projects and make sure the project manager has the proper authority and access to resources. May be called upon to resolve conflicts within the organization. Functional Manager - ✔✔-The departmental manager in most organizational structures, such as the manager of engineering. Usually "owns" the resources that are loaned to the project, and has human resources responsibilities for them. Can be a rich source of expertise, or even are the most likely persons with whom project managers experience conflict on a project. Stakeholders - ✔✔-Individuals who are involved in the project or whose interests may be positively or negatively affected as a result of the execution or completion of the project. They ma exert influence over the project and its results. Usually refers to the key _______________ who are identified as most important of influential ones on the project. Sponsor - ✔✔-The person paying for the project. They may be internal or external to the company. In some organizations they are called the project champion. This person and the customer may be the same person, although the usual distinction is this person is internal to the performing organization and the customer is external. Project Office (Project Management Office, PMO) - ✔✔-This term refers to a department that can support project managers with methodologies, tools, training, etc., or even ultimately control all of the organization's projects. Usually serves in a supporting role, defining standards, providing best practices, and auditing projects for conformance. Program Manager - ✔✔-The individual(s) responsible for the programs. Organizes and manages multiple projects coordinated together at a higher level than the project manager does. Organization Types - ✔✔-The type of project delivery organization will have an impact on the way a project is managed and its success. There are 3 main types: 1) Functional 2) Matrix 3) Projectized Functional Organization Type - ✔✔-The organization type in which project team members work for a functional department, i.e. the functional manager has the most power (The project manager, if the role exists, is typically only part-time and has little organizational authority). Matrix Organization Type - ✔✔-An organization in which human resources have both a functional manager and a project manager. They are a very common organizational type. Departments exist, allowing functional managers to manage the people in them. Project managers "borrow" resources for projects, and these resources eventually return to their functional departments. Projectized Organization Type - ✔✔-An organization which is structured by projects; no functional departments exist. The project manager has responsibility for the people and the project. While it gives the PM complete control, it risks overburdening the PM with human resource responsibilities. PM Management Skills - ✔✔-Technical Skills: - Focus, tailoring, planning and priorization, managing Strategic/Business Management Skills: - Knowledge of the strategy, mission, goals, products, services, market, operations, competition Leadership Sklls: - Dealing with people, communicating, collaborating. Project Management Methodology - ✔✔-A system of practices, techniques, procedures, and rules used to manage a project. Work Authorization System - ✔✔-A system to ensure that project work gets performed at the right time in the correct sequence. Such a system may be implemented in varying levels of formality. The Triple Constraint - ✔✔-A fundamental concept also known as the Iron Triangle: - Cost - Time - Scope A change in one constraint will affect at least one other constraint. The Competing Constraints - ✔✔-Beyond the traditional Iron Triangle: - Scope - Budget - Quality - Resources - Schedule - Risks How many PMI Process Groups are there? - ✔✔-There are a total of 5 Groups: 1) Initiating 2) Planning 3) Executing 4) Monitoring and Controlling 5) Closing Initiating Processes - ✔✔-Process: takes place early in the project or project phase; Involved in starting, or ramping up, the project. Planning Processes - ✔✔-Process: associated with creating a plan; planning is iterative with more detail being added to plans during the project - hence the inclined ramp at the top of the shape. Executing Processes - ✔✔-Process: focus on carrying out some aspect of the project plan; the base curve reflects the daily ups-and-downs of project activities being performed. Monitoring and Controlling Processes - ✔✔-Process: measure the work results against the plan and make adjustments where variances exist; the top slopes of the process shape reflect the resulting approved change requests. Closing Processes - ✔✔-Focus on closing out the project or phase; ramping down the project to completion. Knowledge Areas - ✔✔-10 total: 1) Integration Management 2) Scope Management 3) Schedule Management 4) Cost Management 5) Quality Management 6) Resource Management 7) Communications Management 8) Risk Management 9) Procurement Management 10) Stakeholder Management Process Framework Matrix - ✔✔-Every process is a member of one and only one knowledge area, AND, every process is a member of one and only one process group. There are 5 Process groups, 10 knowledge areas, and 49 Processes. Common Inputs - ✔✔-Examples include: 1) Project Management Plan (96% of processes) 2) Organizational Process assets (96% of processes) 3) Project Documents (88% of processes) 4) Enterprise Environmental Factors (82% of processes) 5) Project Charter (29% of processes) 6) Agreements (22% of processes) 7) Work Performance Data (20% of processes) Project Management Plan - ✔✔-The plan for how the project will be managed. It is a formal, approved document composed of the other planning documents. Once approved, it is placed under control. It is the primary project document, directing additional planning, execution, control, and closure. Input in all processes except Develop Project Charter and Develop Project Management Plan. Organizational Process Assets - ✔✔-All historical information or knowledge that an organization has at its disposal, which may be used to help future projects (anything that helps). Examples include templates, forms, research results, WBS, quality standards, benchmarks, previous plans, contracts, etc. Input in all processes except Validate Scope and Monitor Risks. Project Documents - ✔✔-Documents other than the Project Management Plan. Some examples include: Activity List, Change Log, Risk Register, Project Charter, Issue Log, etc. Not used as an input in 6 processes: Develop Project Charter, Develop PM Plan, Plan Scope Management, Plan Cost Management, Plan Schedule Management, Define Activities. Enterprise Environmental Factors - ✔✔-Any factor outside of the project's control that influences the project. This could include organizational attitudes, culture, reporting relationships, government, the economy, laws, etc. Input in all initiating, all planning, most executing (8/10), and half monitoring and controlling processes. Project Charter - ✔✔-The document that creates the project. Although it may be created by the Project Manager, it is signed by the sponsor, and it names the project manager and gives him or her the authority to manage the project. - Project is triggered by a need - May be driven by an agreement (contract) - Project is selected from many proposed projects based on financial and business priorities (business case) - The charter authorizes (empowers) and names the Project Manager. Used as input in 1 initiating process, 12 planning processes, and 1 closing. Work Performance Data - ✔✔-Raw, unanalyzed data collected as the work is being performed. Can include: 1) Cost and schedule indicators 2) Status of deliverables 3) Defect repairs 4) Technical indicators Used as input in 10 Monitoring and Controlling process (but not used as an input in Integration Management). Agreements - ✔✔-A document, defining intentions around the project or some component of the project, that has been accepted by both parties. It is helpful to think of agreements as contracts for the purposes of the exam. POPE PAW - ✔✔-The power word to remember for the list of common inputs. It includes: 1) Project Management Plan (PM Plan) 2) Organizational Process Assets (OPAs) 3) Project Documents (Project Docs) 4) Enterprise Environmental Factors (EEFs) 5) Project Charter 6) Agreements 7) Work Performance Data (WPDs) Common Tools - ✔✔-Examples include: 1) Expert Judgement 2) Data Analysis 3) Meetings 4) Interpersonal and Team Skills 5) Data Gathering 6) Decision Making 7) PMIS 8) Data Representation Expert Judgement - ✔✔-Using knowledgeable groups or individuals to assist in project decisions. It is a highly favored technique within project management. Used as tool in all Integration, Cost, and Procurement processes, ALL Initiating, heavy in planning (22/24), some executing and M&C, and ALL closing. Data Analysis - ✔✔-Any technique used to analyze raw data, including alternatives analysis and reserve analysis. Structured or unstructured techniques to understand root causes or forecasts. Used as tool in 18 planning processes and 10 M&C processes. Meetings - ✔✔-Live or online sessions where the participants exchange information, collaborate in real time, and drive decisions. It is a common tool used frequently in processes. Each stakeholder who attends should have a clearly defined role pertaining to the meeting and expectations of the meeting. Common tool used in 15 planning processes, 6 M&C processes, and ALL Communications and Stakeholder processes. Interpersonal and Team Skills - ✔✔-Used to lead and interact with others. A common tool used mostly in Planning and Executing process groups, not used in Schedule, Cost, or Quality processes. A group of 17 different skills, the most common are: Facilitation and Conflict Management. Data Gathering - ✔✔-Collecting data and information from various sources, i.e. any technique used to solicit and document ideas such as brainstorming, expert interviews, focus groups, questionnaires and surveys, and benchmarking. These techniques may be oriented toward a high quantity of ideas or higher quality ideas. A common tool in ALL Initiating processes, heavier in Planning. A group of 9 techniques, the most common being Interviews and Brainstorming. Decision Making - ✔✔-Any one of numerous tools such as voting or multicriteria decision analysis, used to drive to a decision. An assessment of alternatives or issues by reaching a group decision (can also include Autocratic, Prioritization, and Ranking). Project Management Information System - ✔✔-The system used to support management of the project. It serves as a repository for information and a tool to help with communication and tracking. It supports the project from beginning to end. In 12 processes: 4 planning, 4 executing, and 4 M&C, Data Representation - ✔✔-Any means of depicting data visually in order to aid in its comprehension by team members, customers, the performing organization, or other stakeholders. Also, graphics or methods to convey, depict, or present information; a group of 15 techniques. Used more in planning and M&C (Stakeholder Engagement Assessment Matrix and Mind Mapping). MPEIDDDD - ✔✔-The power word to remember common tools, which includes: 1) Meetings 2) PMIS 3) Expert Judgement 4) Interpersonal & Team Skills 5) Data Analysis 6) Data Gathering 7) Decision Making 8) Data Representation Common Outputs - ✔✔-Examples Include: 1) Change Requests 2) Work Performance Information (WPI) 3) Updates (Docs, Plan, Organizational Process Assets [OPAs]) Project Management Plan Updates - ✔✔-Common output, communicates any updates integrated into the project management plan. Few in planning, most in Executing (9/10), and most M&C (11/12). Change Requests - ✔✔-Common Output, can affect Scope, Schedule, Budget, etc. It is any requested change to a documented baseline. They are typically only implemented once the scope, cost, schedule, or quality is "baselined." Since these are formal, before project baselines exit a less formal method is generally used. They are processed according to the change control system (corrective actions, preventive actions, defect repaires). Most Executing (8/10) and M&C (11/12). Work Performance Information (WPI) - ✔✔-Processed information on how the work is being performed, gathered during the Executing processes. It begins to flow as soon as the work is executed. Among other things, it includes the status of deliverables, how things are performing against cost and schedule goals, and how the product measures up against quality standards. Includes: Summary figures, Statistics, Percentages, Lessons Learned, etc. Most M&C (10/12, not an output of Integration Management). Organizational Process Asset Updates - ✔✔-Common output, communicates any updates integrated into the Organizational Process Assets. Several in Executing (6/10), Some M&C (2/12), and Closing process. Project Integration Management - ✔✔-The only knowledge area that is involved in all five Process Groups. This knowledge area involves: - Maintaining the "big picture" of the project throughout the life of the project. - Coordinating every part of the project - Balancing project priorities - Starting, planning, executing, controlling, and closing the project. Philosophy: the Project Manager is the decision maker, keeping the project team focused on project execution. Project management is not a serial progression of processes; much happens in parallel and in an iterative fashion. It coordinates and orchestrates order to project management. Integration Process Overview - ✔✔-1) Develop Project Charter 2) Develop Project Management Plan 3) Direct and Manage Project Work 4) Manage Project Knowledge 5) Monitor and Control Project Work 6) Perform Integrated Change Control 7) Close Project or Phase Develop Project Charter - ✔✔-<Integration/Initiating Process>. The process of developing a document that formally authorizes a project or a phase and documenting initial requirements that satisfy the stakeholder's needs and expectations. Manage Project Knowledge - ✔✔-<Integration/Executing Process>. The process of using existing knowledge and creating new knowledge to achieve the project's objectives and contribute to organizational learning (adding to organizational knowledge assets). - Benefits the performing organization with variance information from the past - why, how, what was the solution. - Creates the Lessons Learned Register which will be updated often by other processes throughout the project life. Monitor and Control Project Work - ✔✔-<Integration/Executing Process>. The process of tracking, reviewing, and reporting the progress to meet the performance objectives defined in the project management plan (and ensuring that the project work and deliverables are in line with the project plan). - A variance occurs when there is a difference between planned and actual. - Recommendations resulting from the measured variances may effect changes in the execution of the plan, or changes to the plan itself - or a combo of changes. Perform Integrated Change Control - ✔✔-<Integration/M&C Process>. The M&C process where requested and unrequested changes are reviewed according to the change control system. This process focuses on changes to the product, service, or result as well as the organizational process assets that endure past the project. The "integrated" portion of the name is due to its bringing together all of the other M&C processes. - Approval for change requests occurs in this process (keyword - decisions) - The project impact of change requests is assessed before approval. - A change control board might be used to review change requests, with the authority to make approvals varying among organizations. Close Project or Phase - ✔✔-<Integration/Closing Process>. The closing process that administratively closes a phase or the overall project. In this process, all final project documentation and project files are completed, and lessons learned are documented. - This is always the last process to be completed. - Finalize "lessons learned" to help prevent future projects or phases from similar mistakes. - Transition of the ownership of the deliverable is key - No more change requests! Key Inputs for Develop Project Charter - ✔✔-The key inputs include: 1) Business Documents 2) Agreements Benefit Measurement Methods - ✔✔-Between projects, bigger is better for these measures: - Benefit Cost Ration (BCR) - Economic Value Add (EVA) - Present Value (PV) and Net Present Value (NPV) - Internal Rate of Return (IRR) - Return on Investment (ROI) - Return on Invested Capital (ROIC) Between projects, smaller is better for these measures: - Payback Period - Opportunity Cost Key Tools for Develop Project Charter - ✔✔-The only key tools for this process (Integration) are common tools. Key Outputs for Develop Project Charter - ✔✔-The key outputs of this process are: 1) Assumption Log (major assumptions) 2) Project Charter Assumption Log - ✔✔-A list of all uncertainties that are treated as true for the purposes of planning. Develop Project Management Plan - ✔✔-<Integration/Planning Process>. The process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans. This plan guides the project's execution and control, covering every aspect of the project: - The Plan is more than the schedule! - Many other planning processes create the 18 major components of the plan - The plan is continuously developed, refined, revisited, and updated throughout the project life. Key inputs for Develop Project Management Plan - ✔✔-The key input to this process is: 1) Outputs from other processes. Key outputs for Develop Project Management Plan - ✔✔-The key output to this process is: 1) Project Management Plan It is one of the most important outputs of any project management process! Direct and Manage Project Work - ✔✔-<Integration/Executing Process>. The process of leading and performing the work defined in the project management plan and implementing approved changes to achieve the project's objectives (creates the project deliverables by performing the work packages). The objectives of the project are realized, and the deliverables are created in this process! Key inputs for Direct and Manage Project Work - ✔✔-The key inputs to this process are: 1) PM Plan 2) Approved change requests In this process, we are primarily interested in the part of the plan that describes how to execute the project. Work Authorization System (WAS) - ✔✔-Part of the overall project management information system (PMIS), it is used to ensure that work gets performed at the right time and in the right sequence. It may be an informal email sent by the project manager to a functional manager, or a formal system to get an assigned resource released to complete scheduled work. Key outputs for Direct and Manage Project Work - ✔✔-The key outputs from this process are: 1) Issue Log (key stakeholder issues) 2) Deliverables 3) Performance Data Key input for Manage Project Knowledge - ✔✔-The key input to this integration/executing process is: 1) Deliverables Key output for Manage Project Knowledge - ✔✔-The key output of this process is: 1) Lessons Learned Register Captures lessons learned throughout the project life: - Enables continuous improvement - Updates the project's lessons learned register - Updates the organization's knowledge base Key tools for Manage Project Knowledge - ✔✔-The key tools in this process are: 1) Knowledge Management 2) Information Management (document management/organizing knowledge for filing and retrieval) Knowledge: 1) Explicit - factual items, graphics; easily stored, and 2) Tacit - beliefs, opinions, abilities, experiences; difficult to format for storing. Encourages the sharing of know-how: workshops, networking, meetings provide a place for people to share. Key inputs for Monitor and Control Project Work - ✔✔-The key inputs to this process are: 1) Work Performance Information 2) Project Management Plan (PMP) 3) Schedule Forecast 4) Cost Forecast 5) Project Documents Key outputs for Monitor and Control Project Work - ✔✔-The key output from this integration/M&C process is: 1) Work Performance Reports (WPRs) Key input for Perform Integrated Change Control - ✔✔-The key input for this integration/M&C process is: 1) Change Requests Key outputs for Perform Integrated Change Control - ✔✔-The key outputs for this integration/M&C process are: 1) Updated Change Log 2) Approved Change Requests Key input for Close Project or Phase - ✔✔-The key input for this integration/closing process is: 1) Accepted Deliverables Key outputs for Close Project or Phase - ✔✔-The key outputs for this closing process is: 1) Updated "Lessons learned" register 2) Final Product, Service, or Result Transition 3) Final Report Plan Scope Management - ✔✔-<Scope/Planning Process>. The process in the scope knowledge area that plans how the other five Scope Management processes will be carried out. This process generates the Requirements Management Plan and the Scope Management Plan. It also lays the groundwork for all future project scope management activities. - This process happens early in the life of the project. - Requirements and Scope management have a significant impact on project success. - Schedule, resource, budget, quality, and risk planning will tie back to the work of this process. Key outputs for Plan Scope Management - ✔✔-The key outputs for this planning process are: 1) Scope Management Plan 2) Requirements Management Plan Defines how to perform the remaining five processes in the Scope Management knowledge area. It becomes part of the Project Management Plan. Collect Requirements - ✔✔-<Scope/Planning Process>. A planning process in scope management that documents the stakeholders' needs for the project. The resulting requirements documentation focuses on how the requirement, once it is built, will satisfy the underlying need or meet the opportunity that drove it. This process generates the Requirements Documentation and lays the groundwork for all future project activities. - This process happens very early in the life of the project. - The success and quality of the project begins with the stakeholders' requirements. - The origin of each requirement is listed in the Requirements Traceability Matrix. Key input for Collect Requirements - ✔✔-The key input for this scope/planning process is: 1) The Project Management Plan Key tools for Collect Requirements - ✔✔-The key tools for this planning process are: 1) Data Gathering (brainstorming, interviews, surveys, etc.) 2) Data Representation (Affinity diagrams, Mind mapping) 3) Decision Making (voting, multicriteria decision analysis) Key outputs for Collect Requirements - ✔✔-The key outputs for this planning process are: 1) Requirements Documentation 2) Requirements Traceability Matrix Requirements Documentation - ✔✔-A document that ties each deliverable back to the underlying need it will address: - Root problem being solved - Origin of requirement - How the requirement solves the problem - Measures and targets - Constraints - Interaction with other requirements Requirements Traceability Matrix - ✔✔-A table showing the stakeholder or origin that produced each requirement and the functionality that will address that requirement. This is a useful document since projects may have difficulty remembering how and why a a particular requirement came to be. It may include information such as: - Description - Why it is a requirement - Origin - Version - Priority - Status - Acceptance Criteria - Business Value Define Scope - ✔✔-<Scope/Planning Process>. The planning process that results in the project scope statement. The goal of this process is to develop a detailed understanding of the scope and to document that understanding. This understanding is documented in the Project Scope Statement. While Collect Requirements has already been performed, this process refines the team's understanding of the project work. - It's about improving and documenting your understanding of the project's scope. - The creation of the Project Scope Statement, containing a detailed description of the scope, is the most important element. - This process usually begins early in the project (can be started once Collect Requirements is complete). Key input for Define Scope - ✔✔-The key input for this scope/planning process is: 1) Requirements Documentation Key tools for Define Scope - ✔✔-The key tools for this planning process are: 1) Data Analysis ("Alternatives analysis," key approach in this process) 2) Product analysis Key output for Define Scope - ✔✔-The key output for this planning process is: 1) Project Scope Statement Project Scope Statement (PSS) - ✔✔-The document that states the project requirements by describing objectives, deliverables, boundaries, and acceptance criteria [Show More]

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