PMP Exam Preparation

Key Notes for the PMP Exam

PMP Exam Preparation        

Study Notes

This version contains summaries of the PMP Mindset Exam, PMBOK 6, PMBOK 7, Agile Practice Guide and other books to guide you in the preparation for the exam.

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Content

PMP GUIDE GOLD STUDY NOTES

PMP EXAM MINDSET BRIEF

BEFORE INITIATE A PROJECT

Project Management Basic Concepts

Choosing the approach (Predictive, Hybrid or Agile)

EEF & OPA

Business case vs Benefits Plan

PMO

PMP Questions

INITIATE THE PROJECT

Project Charter

Identify Stakeholder

People: Negotiate Project Agreements

People: Mentor and Collaborate with Stakeholders

People: Promote Team Performance Through the Application of Emotional Intelligence

People: Engage Stakeholders and Build Shared Understanding

PMP Questions

PLAN, EXECUTE, CONTROL & MONITOR THE PROJECT

4. Project Integration Management

5. Project Scope Management

6. Project Time Management

7. Project Cost Management

8. Project Quality Management

9. Project Human Resource Management

10. Project Communication Management

11. Project Risk Management

12. Project Procurement Management

13. Project Stakeholder Management

CLOSE THE PROJECT

The Agile Manifesto and Mindset Exam preparation

ADAPTIVE APPROACH: AGILE, KANBAN, DA, SCRUM, SAFE, Less AGILE

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PMP EXAM MINDSET BRIEF

Throughout this document we are going to see details and explanations of the PMP Exam Mindset. Let's start with some relevant tips.

Practice makes the master, and the more you practice PMP question models the better. It is a matter of time until you reach a high understanding of the PMP exam mindset; it takes a while to perform very well. I always recommend studying and practicing first, and then when you feel confident, book the exam, and go for it without hesitation.

Remember all the information that you need is given in the question and the answer options. Do not answer based on your experience but based on PMI Mindset. The PMP Exam is about applying best practices not about your experience.

The PMP exam is structured into four levels of question types: Easy level, Moderate Level, Difficult Level, and Expert Level.  The Easy level is when three of the four option answers are wrong. In the Moderate you have two potential right answers, in the difficult level you decide between three right answers for which one is the most appropriate, and in the Expert level, all of them could be the right answer but only one is the most appropriate or sometimes you must choose two options or more.

However, most of the time the way to answer these questions is by focusing on which one is the very first step to take if following a process or which one is the best option when the PM must be proactive. We always must Assess first, Then Review and Last, be proactive and Take Action right away.

People who have taken the PMP exam agree that on average there are 50% of easy-level questions, 30% moderate questions, 15% difficult questions, and 5% of expert questions in the real test. Remember that according to the PMI “About half of the examination will represent predictive project management approaches and the other half will represent agile or hybrid approaches. Predictive, agile, and hybrid approaches will be found throughout the three domain areas (People, Process and Business Enviroment).

Let's move on to the following two moderate-level sample PMP questions;

1. A supplier is unlikely to meet the project schedule. Based on the risk response plan, the project manager secured stakeholder approval to use Uninterrupted Power Supply (UPS) until the Diesel Generator arrives. However, the UPS changes won’t be ready in time.

Which risk type is the project manager facing in this situation?

A.           Secondary risk

B.           Residual risk

C.           Primary risk

D.           Compliance risk

2. A vendor is unlikely that the delivery will be ready on time. The Project Manager's risk mitigation plan is to use UPS until the Electrical Generator is implemented. However, this strategy might slow down project execution.

What kind of risk might you introduce to the project?

A.           Secondary risk

B.           Residual risk

C.           Primary risk

D.           Compliance risk

See next page for answers explanation.

For question number 1: The risk type that the project manager is facing in this situation is, B. Residual risk

Explanation:

Primary Risk: The original risk of the supplier not meeting the project schedule. (The supplier is unable to meet the project schedule. This risk was the trigger to activate the risk plan)

Secondary Risk: A new risk that arises as a direct result of implementing a risk response plan. In this scenario, it's not mentioned that a new risk has emerged due to the risk response plan.

Compliance Risk: This refers to the risk of not following laws, regulations, or company policies. There's no indication that this specific risk applies in the given scenario.

So, the correct answer is B. Residual risk.

Again, if you carefully read the questions and the answers, here, you can rule out answers C and D. Then, by understanding the definition of the types of risk, you may lead to the right answer.

For question number 2: The risk type that the project manager is facing in this situation is, A.           Secondary risk

Now, following the beforehand explanation we conclude that another risk arises after the activation of the risk plan strategy, which is slowing project execution. In this situation, you need to deal with this new risk (Do something), but in the first question, you only must wait (Do nothing) for the UPS to be ready, maybe in hours.

Again, if you carefully read the questions and the answers, here, you can rule out answers C and D. By understanding the definition of the types of risk, you may lead to the right answer.

BEFORE INITIATING A PROJECT

Projects vs Operation:

Projects Selection Approach: (Predictive, Hybrid or Agile)

Tailoring the project approach is a crucial aspect of project management because not all projects are the same, and one size does not fit all. Tailoring allows project managers and teams to adapt the approach to suit the specific needs and characteristics of the project.

It is up to the project management team to determine the best life cycle for each project.

Predictive life cycles may also be referred to as waterfall life cycles. also referred to as plan-driven life cycles. A predictive approach is practical when the project and product requirements can be defined, collected, and analyzed at the start of the project, or planned upfront.

Iterative life cycle, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team’s understanding of the product increases.

Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product.

Incremental life cycle, the deliverable is produced through a series of iterations that successively add functionality within a predetermined time frame. The deliverable contains the necessary and sufficient capability to be considered complete only after the final iteration.

A hybrid life cycle is a combination of a predictive and an adaptive life cycle. Those elements of the project that are well-known or have fixed requirements follow a predictive development life cycle, and those elements that are still evolving follow an adaptive development life cycle.

Remember; the Hybrid Approach is a combination of Predictive + Adaptive (Iterative+Incremental)

INITIATE A PROJECT

Project Charter

How to identify and classify stakeholders

Project Integration Management

Project Integration Management spans across all phases of a project, ( initiation, planning, execution, monitoring and controlling, and closing) and involves coordinating all aspects of a project to ensure it runs smoothly and meets its objectives. There are seven key processes in Project Integration Management, each with its own set of inputs, tools and techniques, and outputs.

Conflict Management is a common technique that every project manager must apply to develop the project charter and the project management plan.

The current PMP exam in people’s domain evaluates “ Manage Conflict" and this topic appears in the exam in many ways, here you can find the most interesting exam notes regarding Manage Conflict:

 1.     Key Words:

• Low Morale, Conflict, Low Commitment. These are signs of conflict.
• Support high-performing team members' growth by encouraging collaboration and training in agile processes.
• Expectancy theory for employee motivation is based on confidence, value, and compensation.
• Address the Definition of Done (DoD) non-compliance in retrospective meetings.
• Address problems with team members individually or collectively based on the situation.
• Conflict resolution methods: Force, Withdrawal, Collaborate/Smooth, etc.
• Focus on Five Modes of Conflict Resolution.

 2.      Responsibility of Project Manager during Issue:

• Identify the nature of the issue and plan course correction, particularly for critical stakeholders.

 3.      Stakeholder Engagement:

The Planning Approach: There are two known planning approaches: The Traditional Planning Approach or Upfront Planning (For Predictive Projects) and The Rolling-Wave Planning Approach (For Adaptive Projects).

• Traditional Planning Approach: This approach involves detailed planning (upfront planning) of the entire project from start to finish before any work begins. Project managers and teams create a comprehensive project plan, including all tasks, dependencies, and resource allocations, in advance.
• Rolling Wave Planning Approach: Rolling wave planning takes a more adaptive and iterative approach. It involves planning the near-term activities in detail while leaving the planning of distant future phases at a higher level. As the project progresses, plans for the subsequent phases are developed in more detail.

Change Management Plan is a structured approach to help individuals, teams, and organizations transition from their current state to a desired future state with minimal resistance and disruption. It is a document that indicates how change requests will be managed throughout the project.

Characteristics of High-Quality WBS: Deliverable-oriented, Hierarchical structure, and follows the 100% Rule (sum of lower-level components equals the parent component).

In summary, planning and managing scope involves detailed analysis of technical requirements, identification of dependencies, and methods like brainstorming, affinity diagrams, and mind mapping to ensure comprehensive scope definition. Developing a high-quality Work Breakdown Structure (WBS) is crucial for organizing deliverables. Continuous engagement with stakeholders, especially the product owner, is vital for projects with evolving scope. The scope defined in the Project Charter should have a sponsor agreement before detailed planning commences to ensure project alignment and success.

Agile Scope Management

Agile Scope Management Key Principles

Agile Scope Management refers to the approach of managing project scope in an agile environment. It is a dynamic and iterative process that focuses on embracing change and responding to evolving customer needs throughout the project lifecycle. Unlike traditional project management, which aims to lock down the scope early and avoid changes, agile scope management recognizes that requirements and priorities can change over time.

Project Schedule Management

ALWAYS REMEMBER:

CV, SV, VAC, CPI & SPI                 > 1 IS GOOD

CV, SV, VAC, CPI & SPI                 <1 IS BAD.

BUT

TCPI                 > 1 IS BAD 

TCPI                <1 IS GOOD.

• CV = COST VARIANCE
• SV = SCHEDULE VARIANCE
• CPI = COST PERFORMANCE INDEX
• SPI = SCHEDULE PERFORMANCE INDEX

Estimated at Completion means the forecasted amount of money that you would end up expanding on the project.

Estimated to Complete means the amount of money that you need to finish the project.

7.2 Estimate Cost

The project team assesses the cost of individual project activities or work packages based on the available information and historical data.

Key Output: Cost Estimates - Cost estimates are the primary output and include the estimated costs for each activity or work package. They can be categorized as rough order of magnitude (ROM), budgetary, or definitive estimates based on the level of detail and accuracy.

Order of Magnitude (ROM) Estimates: ROM estimates are rough, high-level estimates made early in the project when limited information is available. They provide a broad range of potential costs. Class V.

Budgetary Estimates: Budgetary estimates are more detailed than ROM estimates but are still made early in the project, typically during the planning phase. They provide a closer approximation of project costs. Class III.

Definitive Estimates: Definitive estimates are the most detailed and accurate estimates. They are prepared later in the project when detailed project plans, specifications, and more information are available. Class II or Class I.

In this phase, we can use Montecarlo Analysis simulation.

7.3 Determine Budget

In this process, the cost estimates are aggregated and compiled into a comprehensive project budget.

8.1 Plan Quality Management

In this process, the project team develops a quality management plan that outlines the quality standards, metrics, and processes that will be used to ensure that the project's deliverables meet the required quality criteria.

Key Output: Quality Management Plan - This document defines the project's quality objectives, roles and responsibilities, quality control activities, and the overall approach to achieving and assuring quality throughout the project. Identify potential risks and issues in advance and plan strategies to prevent them.

By prioritizing prevention over inspection, project teams can proactively manage and maintain the quality of their work, leading to more successful and efficient project outcomes.

prevention over inspection in project quality management, consider the following strategies:

Cost of Quality

In project management, the concept of the "cost of quality" refers to the total cost incurred by a project to ensure that the project's deliverables meet the required quality standards and satisfy customer expectations. The cost of quality encompasses both the cost of conformance (preventing defects) and the cost of

The Seven Basic Quality Control Tools, often referred to as the "7 QC Tools," are a set of tools and techniques used in quality control and process improvement to identify and solve quality-related problems. They were first developed and popularized by Japanese quality guru Kaoru Ishikawa and are widely used in various industries to improve product and process quality. The 7 QC Tools are as follows:

1. Check Sheet (Tally Sheet): Check sheets are simple forms or templates used to systematically collect and record data. They help in organizing and summarizing data for analysis. Common uses include tracking defects, recording the frequency of specific issues, and identifying patterns.

2. Pareto Chart: The Pareto chart is a bar chart that combines data in a way that highlights the most significant factors or problems. It follows the Pareto principle (80/20 rule), which suggests that roughly 80% of the problems are caused by 20% of the factors. It helps prioritize issues for improvement efforts.

Project Communications Management

90% of PM's time is communicating.

Communication Hierarchical Focus

 Project Risk Management

Risk is something that might happen. (An Opportunity or a Threat)

Issue is a risk that already happens.

11.4 Perform Quantitative Risk Analysis

Quantitative risk analysis involves numerically analyzing the effect of identified risks on project objectives, often using techniques such as Monte Carlo simulations.

Key Output: Project Documents Updates (Quantitative Risk Analysis Results) - This output provides a quantitative assessment of risk exposure, including potential cost and schedule impacts. It helps in making informed decisions about risk responses.

11.5 Plan Risk Responses

12.1 Plan Procurement Management

12.2 Conduct Procurement

Here, the project team executes the procurement plan by obtaining bids or proposals from potential suppliers, evaluating their offers, and selecting the best supplier(s) based on predefined criteria.

Key Output: Selected Sellers - This output identifies the chosen suppliers or vendors who will provide the necessary goods or services to the project. Contract agreements with the selected sellers may also be generated as part of this process.

12.3 Close Procurement

The project team monitors and manages procurement activities, including supplier performance, contract compliance, and resolution of any issues or disputes.

Key Output: Close Procurement (Performance Reviews) - These reviews provide information on how well the procurement processes are functioning, including insights into supplier performance and contract compliance. Change requests related to procurement may also be generated.

Exam Notes Project Procurement Management

Topic "Process: Plan and Manage Procurement":

 1.      Key Information:

• Internal Resources vs. External Resources: The decision to use internal or external resources for project needs.
• Procurement Management Plan: A document that outlines how procurement processes will be managed and executed.

 2.      Types of Contracts:

• Fixed Price (FP) or Reimbursement: Contracts that can be fixed price, where the vendor bears the cost risk, or reimbursement-based, where the buyer reimburses costs.
• Cost Plus Incentive Fee (CPIF): A contract where the vendor receives a base fee plus additional incentives for achieving specific performance targets.
• Firm Fixed Price (FFP): A contract with a fixed price that is not subject to adjustments.
• Fixed Price Economic Price Adjustment (FPEPA): A contract with a fixed price that includes provisions for price adjustments based on predefined economic factors.

 3.      Build vs. Buy Decision:

 Project Stakeholder Management

13.2 Plan Stakeholder Engagement

Here, the project team develops strategies and plans for engaging with stakeholders effectively throughout the project.

Key Output: Stakeholder Engagement Plan - This plan outlines how the project team will engage with stakeholders, including communication methods, frequency, and the level of engagement needed for each stakeholder group. It also addresses strategies for addressing their needs and concerns.

The Stakeholder Engagement Assessment Matrix is a dynamic tool that can evolve throughout a project as stakeholders' levels of interest and engagement change. It helps project managers tailor their communication and engagement strategies to effectively address the needs and concerns of different stakeholder groups. Regularly updating the matrix can ensure that engagement efforts remain relevant and targeted throughout the project lifecycle.

C: Current Level of Engagement

D: Desired Level of Engagement

Here are the five categories in this matrix:

The Agile Manifesto & Mindset Exam Preparation

What is Agile?

Agile is not a rigid process or methodology but rather a mindset that's ideal for situations where there's no clear end goal or when that goal is frequently changing. This mindset emphasizes continuous learning and embraces change as a natural part of knowledge work. It challenges the traditional assembly line model and enables teams and organizations to manage uncertainty by delivering value iteratively until the customer is satisfied.

The Agile mindset emphasizes a set of values and principles outlined in the Agile Manifesto, which was created by a group of software developers in 2001. The Agile Manifesto values:

1. Individuals and interactions over processes and tools.
2. Working software over comprehensive documentation.
3. Customer collaboration over contract negotiation.
4. Responding to change over following a plan.

These values are underpinned by 12 principles that guide Agile practices, such as delivering working software in short iterations, welcoming changing requirements, and maintaining close collaboration between cross-functional teams and stakeholders.

The Agile principles are a set of guiding statements that provide a foundation for Agile methodologies and practices.

These principles are at the core of Agile methodologies like Scrum, Kanban, and Extreme Programming (XP), and they guide teams in delivering value, responding to change, and fostering collaboration in the world of software development and beyond.

The Agile mindset encourages adaptability, continuous improvement, customer-centricity, and a focus on delivering value early and frequently. It's not limited to software development; it has been adapted and applied to various fields and industries to promote flexibility and responsiveness in the face of uncertainty and change.

Servant Leadership Empowers The Team

Servant leadership is a leadership style that emphasizes the leader's role as a servant to their team or organization. Instead of the traditional top-down approach, where leaders make decisions and direct others, servant leaders focus on serving and empowering their teams. Here's how servant leadership relates to empowering teams:

T-Shirt Sizing:

• In T-shirt sizing, teams assign sizes to user stories using labels like Small, Medium, Large, and Extra Large.
• This technique provides a high-level estimate based on the perceived size or complexity of the story.
• It is often used for early-stage, rough estimates before detailed planning.

Acceptance Test-Driven Development (ATDD)

It is an Agile software development practice that emphasizes collaboration between cross-functional teams, including developers, testers, and business stakeholders, to define and agree upon the acceptance criteria for user stories or features. It is a refinement of the Test-Driven Development (TDD) process, with a strong focus on ensuring that the software being developed meets the desired business requirements and delivers value to the customer.

Large Scale Scrum (LeSS)

It is Scrum applied to large-scale development.

The two levels of LeSS – regular LeSS and LeSS-Huge – are built using teams as the organizational building block. 

Regular LeSS is for 2-8 teams, while LeSS-Huge is for over eight teams. In LeSS, ScrumMasters perform their role full-time for up to three teams at a time. Teams work on their sprints concurrently and share one product owner, product backlog, and definition of done for their shippable product. Each team has its own sprint backlog and retrospectives, with one common “Overall Retrospective” and sprint review. LeSS Huge adds “Requirement Areas,” which are related clusters of customer requirements. Each cluster has its own product owner and a group of 4-8 teams, allowing each team to focus on its area.

LeSS focuses effort on what the customer wants and enforces the principles of scrum to help teams achieve it.

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DISCLAIMER: The content presented is information collected from multiple sources. It is intended only for educational and informational purposes. The author disclaims any responsibility for any liability, loss, risk, personal or otherwise, that is incurred consequently, directly, or indirectly for the use of this document. We are constantly reviewing this material to make sure to comply with copyright, however if you believe that your copyright work has been infringed let us know and we will resolve this issue as soon as possible.

The following study notes were compiled from textbooks and digital resources:

• PMBOK 7th Edition
• PMBOK 6th Edition
• Agile Practice Guide

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