PMI PMP Exam

New PMP Exam Change

By | 2016-08-23T12:43:58+00:00 May 6th, 2015|Articles, Free Resources, PMP, Project Management, Readable Blog|

New PMP Exam change will embrace new change in content outline on 11 Jan 2016. The PMP examination is a vital part of the activities leading to receive a professional credential, PMP examination indicates the practices of the project management practitioner.


What would be the upcoming new PMP Exam change?

Exam Format of four hours and multiple choice itself remains same, including the scoring pattern and including the PMBOK 5th edition knowledge curriculum.

As always, PMP Exam is based on Course Content Outline published by PMI(Project Management Institute) which emphasizes on Tasks in Performance domains.

Exam is based on scenario based questions created from various tasks performed by Project Manager.  These domain tasks were defined way back, few years ago. Questions are all primarily based on these scenarios coming out of these domain tasks of Project Management Profession.

PMI has upgraded the domain tasks to add a few more based on today’s project managers new role in Project Management based on existing new technology used.

This means, more new domain tasks in addition to old domain tasks. That also boils down to more variety of new Questions for Exam takers from 2016 Jan onwards. The upcoming new exam from 11 Jan 2016 would also include several new task based scenarios. These new tasks are highlighted in various Performance Domains as follows. These addition of new tasks itself is the change which is coming in.

PERFORMANCE DOMAIN I: INITIATING THE PROJECT

  • Task 1 Perform project assessment based upon available information, lessons learned from previous projects, and meetings with relevant stakeholders, in order to support the evaluation of the feasibility of new products or services within the given assumptions and/or constraints.
  • (new PMP exam change) Task 2 Identify key deliverables based on the business requirements, in order to manage customer expectations and direct the achievement of project goals.
  • Task 3 Perform stakeholder analysis using appropriate tools and techniques, in order to align expectations and gain support for the project.
  • Task 4 Identify high level risks, assumptions, and constraints based on the current environment, organizational factors, historical data and expert judgment, in order to propose an implementation strategy.
  • Task 5 Participate in the development of the project charter by compiling and analyzing gathered information, in order to ensure project stakeholders are in agreement on its elements.
  • Task 6 Obtain project charter approval from the sponsor, in order to formalize the authority assigned to the project manager and gain commitment and acceptance for the project.
  • (new PMP exam change ) Task 7 Conduct benefit analysis with stakeholders (including sponsor, customer, subject matter experts), in order to validate project alignment with organizational strategy and expected business value.
  • (new PMP exam change ) Task 8 Inform stakeholders of the approved project charter, in order to ensure common understanding of the key deliverables, milestones, and their roles and responsibilities.

PERFORMANCE DOMAIN II: PLANNING THE PROJECT

  • Task 1 Review and assess detailed project requirements, constraints, and assumptions with stakeholders based on the project charter, lessons learned, and by using requirement gathering techniques, in order to establish detailed project deliverables.
  • Task 2 Develop a scope management plan, based on the approved project scope and using scope management techniques, in order to define, maintain, and manage the scope of the project.
  • Task 3 Develop the cost management plan based on the project scope, schedule, resources, approved project charter and other information, using estimating techniques, in order to manage project costs.
  • Task 4 Develop the project schedule based on the approved project deliverables and milestones, scope, and resource management plans, in order to manage timely completion of the project.
  • Task 5 Develop the human resource management plan by defining the roles and responsibilities of the project team members, in order to create a project organizational structure and provide guidance regarding how resources will be assigned and managed.
  • Task 6 Develop the communications management plan based on the project organization structure and stakeholder requirements, in order to define and manage the flow of project information.
  • Task 7 Develop the procurement management plan based on the project scope, budget, and schedule, in order to ensure that the required project resources will be available.
  • Task 8 Develop the quality management plan and define the quality standards for the project and its products, based on the project scope, risks, and requirements, in order to prevent the occurrence of defects and control the cost of quality.
  • Task 9 Develop the change management plan by defining how changes will be addressed and controlled, in order to track and manage change.
  • Task 10 Develop the risk management plan by identifying, analyzing, and prioritizing project risks, and defining risk response strategies, in order to manage uncertainty and opportunity throughout the project life cycle.
  • Task 11 Present the project management plan to the relevant stakeholders according to applicable policies and procedures, in order to obtain approval to proceed with project execution.
  • Task 12 Conduct kick-off meeting, communicating the start of the project, key milestones, and other relevant information, in order to inform and engage stakeholders and gain commitment.
  • (new PMP exam change ) Task 13 Develop the stakeholder management plan by analyzing needs, interests, and potential impact, in order to effectively manage stakeholders’ expectations and engage them in project decisions.

PERFORMANCE DOMAIN III: EXECUTING THE PROJECT

  • Task 1 Acquire and manage project resources by following the human resource and procurement management plans, in order to meet project requirements.
  • Task 2 Manage task execution based on the project management plan by leading and developing the project team, in order to achieve project deliverables.
  • Task 3 Implement the quality management plan using the appropriate tools and techniques, in order to ensure that work is performed in accordance with required quality standards.
  • Task 4 Implement approved changes and corrective actions by following the change management plan, in order to meet project requirements.
  • Task 5 Implement approved actions by following the risk management plan, in order to minimize the impact of the risks and take advantage of opportunities on the project.
  • (new PMP exam change ) Task 6 Manage the flow of information by following the communications plan, in order to keep stakeholders engaged and informed.
  • (new PMP exam change ) Task 7 Maintain stakeholder relationships by following the stakeholder management plan, in order to receive continued support and manage expectations.

PERFORMANCE DOMAIN IV: MONITORING AND CONTROLLING THE PROJECT

  • Task 1 Measure project performance using appropriate tools and techniques, in order to identify and quantify any variances and corrective actions.
  • Task 2 Manage changes to the project by following the change management plan, in order to ensure that project goals remain aligned with business needs.
  • Task 3 Verify that project deliverables conform to the quality standards established in the quality management plan by using appropriate tools and techniques, in order to meet project requirements and business needs.
  • Task 4 Monitor and assess risk by determining whether exposure has changed and evaluating the effectiveness of response strategies, in order to manage the impact of risks and opportunities on the project.
  • Task 5 Review the issue log, and update if necessary, and determine corrective actions by using appropriate tools and techniques, in order to minimize the impact on the project.
  • (new PMP exam change ) Task 6 Capture, analyze, and manage lessons learned using lessons learned management techniques, in order to enable continuous improvement.
  • (new PMP exam change ) Task 7 Monitor procurement activities according to the procurement plan, in order to verify compliance with project objectives.

PERFORMANCE DOMAIN V: CLOSING THE PROJECT

  • Task 1 Obtain final acceptance of the project deliverables from relevant stakeholders, in order to confirm that project scope and deliverables were achieved.
  • Task 2 Transfer the ownership of deliverables to the assigned stakeholders in accordance with the project plan, in order to facilitate project closure.
  • Task 3 Obtain financial, legal, and administrative closure using generally accepted practices and policies, in order to communicate formal project closure and ensure transfer of liability.
  • Task 4 Prepare and share the final project report according to the communications management plan, in order to document and convey project performance and assist in project evaluation.
  • Task 5 Collate lessons learned that were documented throughout the project and conduct a comprehensive project review, in order to update the organization’s knowledge base.
  • Task 6 Archive project documents and materials using generally accepted practices, in order to comply with statutory requirements and for potential use in future projects and audits.
  • Task 7 Obtain feedback from relevant stakeholders, using appropriate tools and techniques and based on the stakeholder management plan, in order to evaluate their satisfaction.

Conclusion:

It is advised considering the new PMP exam change on 11 Jan 2016, to move ahead with thorough preparedness for the examination with various possible questions scenarios which could be formulated on the domain tasks.

Information References:

  1. http://www.pmi.org/certification/exam-changes/pmp.aspx
  2. http://www.pmi.org/~/media/PDF/Certifications/pmp-certification-exam-outline.ashx
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27 Keys For Project Management Success – PMI PMP

By | 2017-05-17T17:49:19+00:00 January 13th, 2014|Articles, Free Resources, Readable Blog|

golf_picture_8_168174As part of our PMI PMP(Project Management Institute Project Management Professional) success series guide, from Armadillo Consultants, we want to reveal the hidden secret’s of how to pass PMP exam, the most result yielding way. Much before we step there, one got to understand the Project Manager as a Project Management Professional.

PMP(Project Management Professional) Aspirants who seek successful PMP should start preparing well in advance and start building a well rounded professional profile. Starting early would give sufficient time to research and evaluate different “in detailed project management topics” to explore and prepare for taking up the PMP exam. It is very significant for PMP aspirants to spend considerable time evaluating many topics at hand and pick the right topics to build an overall professional profile, where they will be ultimately be happy and successful.

There are probably two ways many aspirant PMP’s or Project Management Professionals look at it while addressing the actual PMP exam.

One. You are a very practical project manager and answer the PMP questions. A project manager is not just simple task allocating and monitoring professional just sitting there, he/she is more of an integrator for all the aspects of the project management. In fact as Project Manager, one touches all the key knowledge areas such as Integration Management, Scope Management, Time Management, Cost Management, Quality Management, Risk Management, HR Management, Procurement Management, Communications Management, Stakeholder Management while ensuring all the process groups like Initiating, Planning, Monitoring & Controlling, Executing and Closure are taken in to account.

Two. You act and behave as an Ideal project manager and answer the PMP questions like the PMI(Project Management Institute) expects. In many situations, when you tend to act as an Ideal project manager, your practical ways of doing project management in reality are challenged. Infact as experienced, it is intended that the budding Project Management Professionals to think as Ideal project manager. Also, it is expected to be Ideal project manager & importantly a person with professional code of ethics plus social responsibility.

In line to the professional code of ethics plus social responsibility, a project manager has to be mindful of at least these 27 keys.

For Initiating Process Group, a Project Manager should:
1. Validate that the project is formally authorized before beginning any project work
2. Exercise the right to refuse, to start the project until it is formally authorized by signed project charter
3. Validate that Contract is being signed before beginning the work, if being performed for an external customer
4. Validate that project is contributing to strategic goals of the organization
5. Identify and determine all affected stakeholders by the project, could be both internal and external


For Planning Process Group, a Project Manager should:
6. Ensure the most possible accurate estimates are developed with the information at hand in planning phase
7. Develop Communication plan to inform appropriate stakeholders with timely & accurate information along with periodic status reports
8. Ensure detailed subsidiary project management plans are developed & evolved in all areas with necessary information & attributes is included
9. Have a human resource management plan with strategy to motivate project team and maximize the resource efficiency
10. Clearly demonstrate your planning by having a clearly laid out approach for upcoming changes, how they will be handled & addressed to be adapted or closed
11. Obtain necessary management approvals on all the project management plans & make it accessible for the stakeholders


For Executing Process Group, a Project Manager should:
12. Communicate Project Status with Transparency, Accuracy & Timeliness to Stakeholders as desired by them
13. Adhere to the Organizational & Legal procurement practices, with project manager making every effort to sort out any ambiguities
14. Award the Contract to the legitimate bidder based on the defined evaluation criteria including the performance assessment
15. Include appropriate clauses, terms and conditions in the contract to protect both seller and buyer with known and unknown risks
16. Drive project leadership with project staff by:
16A. Encouraging cultural exchange, cultivate harmony
16B. Acting free of any bias/prejudice, be fair to everyone
16C. Foster positive environment to encourage team come up to you and talk of any misappropriate happenings
16D. Provide necessary knowledge, skills and tools for team to work efficiently & effectively
16E. Recognize and reward the team for their good work
16F. Provide corrective & constructive feedback in case of non-delivery
16G. Act and/or Escalate disciplinary issues immediately to right authority


For Monitoring & Controlling Process Group, a Project Manager should:
17. Communicate stakeholders the changes in pipeline for approval upfront before CCB(Change Control Board) and follow-up with them for further actions as appropriate
18. Inform Stakeholders about the approved changes, implemented corrective & preventive actions, defect repairs
19. Deviations or variances from the actual baselines and the transparent reasons
20. Project deliverables are always verified and/or validated for the Quality
21. Proactively engage with stakeholders or brainstorm to identify the potential risks
22. Validate the base assumptions and continuously check for the constraints applicable across all phases of project


For Closing Process Group, a Project Manager should:
23. Project is formally closed after check on the deliverables, release payments, release resources
24. Stakeholders are made to understand further business opportunities and/or risks which may arise due to project completion
25. Honest and transparent feedback on the Seller upon Contract Closure and/or Termination
26. Captured lessons learnt are shared to the stakeholders and stored as Organizational Process Assets
27. Evaluation of the Project Performance at the closing and formal acknowledgement by stakeholders


In addition to the above, a bonus key which I often emphasize to our PMP Workshop and Training Batches in Bangalore. It is imperative for PMP aspirants to have a clear thought process of which inputs to use, by applying what tools & techniques, and to generate what outputs in any particular process as part of the PMI Process Group and in which PMI Knowledge Area.

Many PMP aspirants often think they would be able to memorize all such process items and recall them during the day of exam, rather I recommend my participants a thorough understanding which enable’s one to apply the knowledge to get the answers in the PMP exam.

As a PMP aspirant or not, it is quite interesting for Project Management Professionals to keep the listed 27 keys to open up their doors on the Project Management Success. I understand there may be many more such keys, however, I would love to hear your opinion on any such key which helped you move the mountains during the PMP exam.

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PMP Exam Formulas – Free online PDF Download!

By | 2017-05-17T17:46:58+00:00 November 29th, 2013|Articles, Free Resources, Readable Blog|

Project Managers “best aid” in performing their operations involves widespread application of mathematical formulas in relation to the 10 project management knowledge areas. Project Managers & Project management professionals looking to be future PMI PMP credential certified professional needs to understand the application of mathematical formulas in context of the situation at hand.

Memorization of the formulas alone will not aid the PMP aspirants ace the PMP exam. Professionals need to have deep insights on how to effectively perform the required computations. This requires the project management skill and diligence of the subject matter to ensure the problems are resolved in the right direction correctly.

While there are many methods to memorize the formulas & go about PMP exam, the most prominent one which has brought success for PMP aspirants is discussed here.

5 Simple steps to PMP Success with mathematical inspiration

  1. During your PMP preparation, write down the formulas over a piece of paper on a daily mode until the exam day.  A word of caution: Do not be tempted by technology to use mobile gadgets to memorize. Use hands to write, while you see with your eyes; human brains are hard-wired to synchronize & digest information in subconscious mind effectively this way.

  2. Recall how these formulas are applied in context of knowledge area & process group.

  3. Repeat steps 1 & 2, until you are confident of the formulas. Without looking up in to PMI PMBoK guide(change in the PMBoK guide) or self notes.

  4. Many PMP participants have successfully used this simple technique to pass through the exam. On the day of exam, as you enter the exam, simply recall all the possible formulas. Brain dump these formulas on the blank sheets provided to you for the first few minutes. Even before you look into questions.

  5. As you move on the questions, simply pick the formulas sheet and work them out on the piece of sheets provided.

For the not-so-mathematical-savvy project managers, one may feel left back or nervous with the appearance and outset of so many PMP exam related formulas. Though, a complete knowledge and application of these formulas will bring down the nervousness and build confidence. Ensure to cater quality time to see how the formulas are applied and in what context. There is no shortcut here for success.

The list of 10 PMP knowledge areas include:

Integration Management, Scope Management, Time Management, Cost Management, Quality Management, Human Resource Management, Procurement Management, Risk Management, Communications Management, Stakeholder Management.

Please see not all knowledge areas will have formulas. Do not expect to have formulas for all 10 PMP knowledge areas.

The list of important and most widely used set of formulas include:

Project Selection >           Future Value
Present Value
NPV – Net Present Value
ROI – Rate of Interest
IRR – Internal Rate of Return
Payback Period
BCR – Benefit Cost Ratio
CBR – Cost Benefit Ratio
 
Communications >   Communication Channels
   
Procurement > PTA – Point of Total Assumption
   
Risk > EMV – Expected Monetary Value
   
Cost & Schedule > EVM – Earned Value Management   CV – Cost Variance
  SV – Schedule Variance
  AC – Actual Cost
  PV – Present Value
  CPI – Cost Performance Index
  SPI – Schedule Performance Index
  EAC – Estimate at Completion
  BAC – Budget at Completion
  TCPI – To Complete Performance Index
   
PERT(Program Evaluation and Review Technique) >   EAD – Expected Activity Duration
  Standard Deviation
  Variance of an activity
   
Network Diagram >   Activity Duration
  Total Float
  Free Float
   
Miscellaneous >   Average(Mean)
  Median
  Mode
  Sigma Values
  Rough Order of Magnitude(ROM) estimate
  Preliminary estimate
  Budget estimate
  Definitive estimate
  Final estimate

View the PDF online here…

[pdfshow href=”http://www.armadilloconsultants.com/files/blog/Project-Management-Professional-PMP-Formulas.pdf”]

Project Management Professional (PMP) Formulas

You may download the pdf document “Project Management Professional exam related formulas” by clicking on the PDF icon on your left side of the screen. This document is licensed to be used in its entirety in print and/or electronic media for personal use only.

We would love to hear your questions, suggestions and thoughts on the importance of PMP related formulas and how they contributed to your PMP success.

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