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Exit criteria:
Phase gates:
The three types of project network diagrams:
Activity-on-Node (most popular), Activity-on-Arrow (uses dummy activities), and GERT (uses loops and
conditional branches).
Estimates
Rough order of magnitude (ROM) = -/+ 50%
Preliminary = -15% to +25%
Budget = -10% to +25%
Definitive = -5% to +10%
Final = 0%
Order of Magnitude = -25% to +75%
Close Project or Phase
Contract close out activities include
Product verification
Financial closure (making final payment and updating cost records)
Conducting lessons learned
Final project performance reporting
Archiving project records
Administrative closure
Procurement closure means verifying that the procured work is complete or terminated.
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Close project or phase is the process of tying up and closing all the activities for every project management
process group.
A contract change control system defines the process by which the procurement can be modified. It
includes the paperwork, tracking systems, dispute resolution procedures, and approval levels necessary for
authorizing changes.
Negotiations process is not part of procurement documents.
Planning documentation is required during administrative closure to make final project performance
reporting
WBS can be used to communicate to customer as well as track time and cost by category of work
Performance Reports usually discuss variances between estimated and actual performance on the project.
Tools like status review meeting are used during Performance reporting.
Formulas
Task Variance = square of standard deviation (three point estimate)
TCPI is not a schedule performance measurement. A higher number means its time to take a
stricter cost management approach. When the number is < 1.0 project is well within its budget.
There is no metric that measures the project performance against the project scope.
Cost baseline = cost of project + contingency reserves
Total float of critical paths is Zero or negative
Motivation Theory
McGregor's Theory Y in contrast to Theory X, which stated that workers inherently dislike and avoid work
and must be driven to it, and Theory Y, which stated that work is natural and can be a source of satisfaction
when aimed at higher order human psychological needs.
For Ouchi, Theory Z focused on increasing employee loyalty to the company by providing a job for life with
a strong focus on the well-being of the employee, both on and off the job. According to Ouchi, Theory Z
management tends to promote stable employment, high productivity, and high employee morale and
satisfaction.
Communication
Team meeting is example of verbal communication.
Paralingual communication is the tone and pitch of the voice when talking to the people.
Halo effect
Noise is a biggest concern for the virtual team. Low Power / Low Interest: Monitor Only
http://en.wikipedia.org/wiki/Theory_X_and_theory_Yhttp://en.wikipedia.org/wiki/Theory_X_and_theory_Yhttp://en.wikipedia.org/wiki/William_Ouchihttp://en.wikipedia.org/wiki/William_Ouchihttp://en.wikipedia.org/wiki/Theory_X_and_theory_Yhttp://en.wikipedia.org/wiki/Theory_X_and_theory_Y7/27/2019 PMP Last Minute
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Low Power / High Interest: Keep Informed
High Power / Low Interest : Keep Satisfied
High Power / High Interest: Manage Closely
PMI Code of conduct
As per PMI code of conduct, a project manager shall not accept any assignment that is not consistent with
background, experience, skills and qualifications.
Others
The Resource breakdown structure is a hierarchically-organized depiction of the identified project risks
arranged by the risk category and subcategory that identifies the various areas and causes of potential
risks. The RBS is part of Risk management plan and updating it means revisiting the Plan Risk management
process.
You must document the change request approval before carrying out the defects under direct and manage
execution process.
The project statement of work (SOW) is a narrative description of products or services to be delivered by
the project and is provided by the project initiator or customer for external projects or the sponsor or
requesting organization for internal projects. If the project is being done for an external customer, the SOW
may be received from the customer as part of a bid document.
Mandatory dependencies are also called as Hard logic.
Preferred Logic, Preferential Logic and soft logic are used for discretionary dependency
The project schedule can sometimes be presented in summary form, sometimes referred to as the master
schedule or milestone schedule
the difference between Business Need and Business Case , content of Statement of Work
(SOW)
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The three scheduling techniques are CPM (uses one estimate), PERT (uses three estimates), and GERT (can
show various project outcomes ).
The Monte Carlo technique is the most popular simulation scheduling technique and is also used for risk
analysis
The three levels of estimating accuracy are order of magnitude (-25% to +75%), budget (-10% to +25%), and
definitive (-5% to +10%).
1. The " core " planning processes are those that must be done in a specific sequence.
2. The "facilitating" planning processes are always performed, are not optional, and directly impact manyof the core planning processes
Elapsed time includes non-working days in a given work week.
Triggers are discovered in risk identification process while watched in risk monitoring and control process
Present value = Future value / (1 + i)**n. here I is periodic rate of interest and n is no of periods
McClelland identified 3 important needs in the workplace: achievement, power,
and affiliation
Expectancy theory says that reward motivation will work if the team believes that
the goal is achievable
Smoothing occurs when the person trying to resolve the conflict asks everyone
to focus on what they agree upon and diminishes the items on which there is
disagreement.
Responsibility, Respect, Fairness, and Honesty
Meetings: Informal & verbal
speeches such as this one are examples of formal verbal communication.
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Questions
Q. A project manager is having difficulty getting resources from a functional manager. Which of the
following would be the MOST appropriate to help resolve this problem?
A. Senior management
B. The customer
C. Key stakeholders
D. The sponsor
The correct answer is A
Q. As project manager, you have made the decision to outsource a part of your project to an outside
organization with whom you have never previously worked. You are ready to begin negotiating the
contract. What should be your goal in the contract negotiations?
A. Having a lawyer or the legal department review each clause in the proposed contract prior to
sharing it with any outside entity.
B. Negotiating the best possible price for your customer or organization.
C. Arriving at mutually agreeable terms for the contract between your organization and the
subcontracting organization.
D. Shifting as much of the project risk to the subcontracting organization as possible.
The correct answer is C
Q. Which process group creates the contract change control system?
A. Initiating
B. Planning
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C. Executing
D. Monitoring and Controlling
Q. What is the logic behind the belief that fast tracking increases risk?
A. The faster you drive, the more probable that you'll have an accident
B. The uncertainty of adjusting discretionary dependencies in order to fast track
C. The compressed schedule would probably have more critical paths
D. The resulting increased number of network paths increases the margin of error in schedule
network analysis
Q. In a control chart used in the Perform Quality Control process, which of the following statements is
LEAST true?
A. The upper customer specification limit represents the project's quality metric for the work
performance information.
B. A data observation below the lower control limit yet above the lower customer specification limit
represents a process that is out of control and a product that is within specification.
C. A data observation that is above the lower control limit and below the upper customer
specification limit represents a product that is within specification and a process that is in control.
D. A data observation that falls at a value equal to two standard deviations above the mean
represents a product from a process that is in control.
The correct answer is A
Q. Successfully planning, managing, and controlling the execution of the project depends on managing the
project scope. Successfully managing the project scope depends on having a detailed:
A. Project Scope Statement
B. Project Management Plan
C. Project Schedule
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D. Scope Management Plan
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All of these answers are important to managing the project, but the questionspecifically asked about managing scope, so you can eliminate Answers B and
C. The Scope Management Plan tells you how to define the scope and how to
process requested changes to the scope, but it is the Project Scope Statement
which actually defines the scope, including the boundaries of what's in and
what's out. Having this clearly defined in detail is mandatory for successful
scope management, therefore, Answer A is the correct answer.
Q. The PMBOK Guide describes several major outputs that are used by the
project manager and the team to understand the work that needs to be carriedout. Review the following choices and select the best answer that places these
major outputs in logical order from the most detailed to the least.
A. Charter, Scope Statement, WBS, WBS Dictionary, Activity List
B. Scope Baseline, Activity Attributes, Schedule Model Data, ChangeRequests
C. Activity List, WBS, Scope Statement, Requirements Documentation
D. Activity Attributes, Scope Baseline, Charter, RequirementsDocumentation
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The correct answer is CWow. Reading through the answers to this question may cause your head to
ache! The question is basically asking you to arrange these outputs from the
MOST DETAILED to the LEAST DETAILED. The project charter is the first
significant output generated by an initiating process. So, the charter is LEASTDETAILED and should appear at the end, if it is listed. Therefore, 'A' is incorrect.
('A' is tricky - the order is logical, but exactly the opposite of what was asked.) 'B'
is incorrect because it is in the wrong order. 'D' is very close - however, the
Charter should follow Requirements Documentation to be a correct answer. 'C'
is the best answer - it moves progressively from the most detailed to the least
detailed.
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Q. The Project Scope Statement is typically:
A. A definitive list of all the work and only the work to be done on the project.
B. Issued by senior management.
C. Progressively elaborated.
D. Defined before the functional specifications.
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The correct answer is CQ. The project scope statement typically starts off general and becomes more
specific as the project progresses. Progressive elaboration is a term that
describes the way in which the details of the scope are discovered over time. 'A'is incorrect since it is more descriptive of the WBS than the project scope
statement. 'B' is incorrect since the project scope statement is created by the
project team and not by senior management. 'D' is incorrect because the project
scope statement IS a functional specification.
Which of the following statements is FALSE regarding the tool called Rolling
Wave Planning?
A. Rolling Wave Planning is a tool or technique of Define Activities.
B. Rolling Wave Planning delays analysis on work packages that are notthe near future.
C. A Rolling Wave Plan serves as a summary activity (hammock) whenone node of the WBS has too many work packages and must be rolled into
another node.
D. The project team uses rolling wave planning to plan and schedulefuture work. These future planned WBS nodes are often revisited as moredetails emerge.The Scope Management Plan tells you how to define the scope and how to
process requested changes to the scope, but it is the Project Scope Statement
which actually defines the scope, including the boundaries of what's in and
what's out. Having this clearly defined in detail is mandatory for successful
scope management, therefore, Answer A is the correct answer.
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risk responses should be planned prior to determining the budget
The correct answer is B
Q. What is indicated by an activity's late finish date?
A. The latest the activity can finish without delaying a subsequent activity
B. The latest the activity can finish without delaying the project
C. The latest probable date that the activity will finish
D. The worst-case or pessimistic estimate for an activity
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An activity's late finish date is the latest an activity can finish without delaying
the project. If it exceeds the late finish date, the critical path will change,
ultimately resulting in the finish date slipping. Choice 'A' is close to the definition
of free float.
The correct answer is AThe communications management plan typically contains all of the following
EXCEPT :
A. The expected stakeholder response to the communication .
B. The stakeholder communication requirements
C. What technology will be used to communicate information
D. A glossary of terms
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The expected response you will receive is not part of the communications
management plan. The communications management plan focuses on how youwill communicate to stakeholders and not how they will communicate to you. 'B',
'C', and 'D' are all typically part of the communications management plan.
Order of magnitude estimate
Leads and lags are APPLIED as part of the Develop Schedule process, but then
they are ADJUSTED in the process of Control Schedule.\
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A definitive list of all the work and only the work to be done on the project. ---
WBS
The communications management plan typically contains all of the following
EXCEPT :
A. The expected stakeholder response to the communication.
B. The stakeholder communication requirements
C. What technology will be used to communicate information
D. A glossary of terms
The best answer is 'D'. The procurement statement of work (SOW) describes
the pieces of the project that are to be performed by an outside vendor. It often
starts off general and is revised as the project progresses
You answered C. The correct answer is AAlex is a project manager who wants to motivate his team by offering them a
week of paid vacation if the project is delivered on time. When presenting this to
the team, he spends extra time convincing the team that this goal is very
achievable. What theory BEST explains Alex's behavior?
A. Expectancy theory
B. Contingency theory
C. Achievement theory
D. Stimulus/Response theory
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You answered C. The correct answer is AAs a vendor contract is being closed, the project manager discovers that he was
overbilled for some of the work. He calls the vendor, who disagrees, saying that
the work was more complex than expected, and therefore the charge was higherthan expected. This isn't easily resolved and has all the signs of an impending
legal battle. Which process should be used to resolve this dispute?
A. Close Procurements
B. Manage Stakeholder Expectations
C. Administer Procurements
D. Control Costs
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Mark
Review
Explanation: Resolving contract disputes is performed in Administer
Procurements. However, when closing the contract, as in this case, the tool of
Negotiated Settlements is used to settle any open claims, even if Alternate
Dispute Resolution forms are invoked. (PMBOK 12.4.2.2)
You answered A. The correct answer is BYou are feeling good about a project you are managing; half-way through the
schedule the project spending is under budget. The actual costs have accrued
to $720,000 and the cost variance is $95,000. You have assured your sponsor
that you will finish the project without exceeding the budget. The sponsor agrees
with your outlook, but he adds caution that to achieve the goal, the project's
remaining spending efficiency should not fall below what percentage?
A. 112%
B. 90%
C. 105%
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D. 85%
work efficiency is the same as SPI.
Throughout the life of a project, a project manager should generally move
through four phases of leadership: Directing, coaching, facilitating, and
supporting.
Virtual teams are a tool of Acquire Project Team, not of Develop Project Team
Which of the following statements about Administrative closure methodologies is
FALSE?
A. It is both a process input and a process output.
B. It includes activities and interactions required to close projects basedon the organization's methodology.
C. Performing this procedure could involve analyzing project success orfailure and documenting lessons learned.
D. As a part of administrative closure, the project team should archive
project information for future use in the organization.
Which of the following would be included in procurement documentation?
A. Team Assessment
B. Invoices
C. Scope Diagram
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D. Organizational Process Assets
The correct answer is BYou are managing a large software project when the need for a new series of
database tables is discovered. The need was previously unplanned, and your
organization's staff is 100% utilized, so you decide to go outside the company
and procure this piece of work. When you meet with prospective sellers, you
realize that the scope of work is not completely defined, but everyone agrees
that the project is relatively small, and your need is urgent. Which type of
contract makes the MOST sense?
A. Fixed price
B. Time and materials
C. Open ended
D. Cost plus incentive fee
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Choice 'A' is incorrect because the scope is not defined enough to establish a
fair fixed price. Choice 'C' is a made-up type of contract. Choice 'D' would notmake sense in this case since the seller's costs are not abundantly clear, and
this type of contract would create too much risk. A Time and Materials
agreement is appropriate in this case
Monitor and Control Risks. That is the process where workarounds are created
A control account plan is a definition of what nodes in the WBS will be used for
points of controlling the budget, schedule and scope
managementby objective
management by exception
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