As part of your learning we share this instant article to cover few practice questions even when you are casually browsing through your social media accounts.
It is always a good thing to take the mock tests before you attend the main exam. In this case your main exam is PMP and you cannot take it easy. This needs experience, expertise in project management which you have implemented or experienced for the past 3-5 years. Know your capabilities and the way you feel comfortable to learn the concepts of project management, then put that in practise. Attend the 35 hours mandatory tutoring where you can meet other people and do the knowledge sharing. Don’t limit yourself to meet and prepare along with your best buddy. Learning from a group of PMP enthusiasts and peers helps you identify solutions to critical project managerial problems.
ways to learn. Make a habit of writing or taking notes at the time of training. This will help you memorise key points from all the concepts. The best approach for learning all the content (there’s a lot of it) depends on your learning style, as said earlier. Some people learn best by reading and absorbing information in their own time. You may even try taking notes and create flash cards. Taking notes in the training is an art and that is to create a mind map to put the key points at your fingertips as shown here PMP Mind Map
You may bookmark us and reach us later to have discussion with our experts. Below are the 20 questions with answer and explanation:
Stakeholders formally accept the project scope and the deliverables. This is the main objective of validate scope process.
Portfolio managers are responsible for high-level governance of the projects within their portfolios. They lead the project selection process for the organization by identifying the value of the project to the organization, and as such identifying the projected return on investment. They also have a mandate of identifying potential risks associated with taking on the project.
Calculate the schedule performance index (SPI) to determine if the project is ahead of or behind schedule. SPI is calculated by dividing the earned value (EV) by the planned value (PV). To determine if the project is under or above budget, we need to calculate the cost performance index (CPI). To calculate CPI, we need to divide the (EV) by the actual cost (AC). The AC is given in the scenario as $38,000. Review the following information on for this scenario. Since the calculated SPI is less than one, the project is behind schedule. Since the calculated CPI is greater than one, the project is under budget.
Most commonly used tools and techniques within the Plan Procurements process of the make-or-buy analysis, expert judgment, and contract types. Each tool and technique can aid in the following decisions: which products or services will be acquired; if, how, and when these products or services will be acquired; and the quantity of these products or services. The Plan Procurements process identifies which products or services will be purchased or acquired and which will be taken care of by the project team.
Scope Baseline is the approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, that can be changed only through formal change control procedures and is used as a basis for comparison. Project scope describes the project deliverable and the work that must be performed to create this product, service, or result for the stakeholders. This includes the work needed to fulfill any speci?ed features and functions outlined. Once the project scope is determined, the project scope statement can be created.
Different time zones and Cultural differences must be considered while setting up a virtual team. Virtual teams share a common project goal, but share little time in a traditional face-to-face business environment. The virtual team concept is made possible with electronic communication, and one of the benefits of such teams is the ability of members to work from home.
The PMBOK® Guide identifies that subset of the project management body of knowledge that is generally recognized as good practice. A RACI chart is a useful tool to use when the team consists of internal and external resources in order to ensure clear divisions of roles and expectations. Work Breakdown Structure (WBS) is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.The Staffing Management Plan establishes the timing and methods used to meet project human resource requirements. The Staffing Management Plan includes components covering staffing acquisition, timetable, release criteria, training needs, recognition and rewards, compliance, and safety.
Even if it means the project is completed behind schedule,it is important to complete all aspects of the project, as agreed upon by the customer. Tell your boss that you refuse to skip the last part of the testing phase.
A project manager would have the most control in a projectized organization, because the project manager makes all of the decisions in this type of organization. Organizational units report directly to the project manager and most of the organization’s resources are designated for project work.
Cost Variance (CV): The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost. Schedule Variance (SV) is a measure of schedule performance expressed as the difference between the earned value and the planned value. Earned Value (EV) refers to the value of completed work, based on the approved budget assigned to that work for a scheduled activity or work breakdown structure item.
During the Direct and Manage Project Execution process, activities are performed to produce the planned results outlined in the Project Management Plan. This process uses several inputs and applies two tools and techniques to produce several outputs. Change Control Meetings is not representative of the inputs, tools and techniques, or outputs of the Direct and Manage Project Execution process.
Distribute information is the execution of the Communications Management Plan. The main purpose of it is to gather and distribute project information to stakeholders throughout the life of the project in order to keep them updated. This process also must be flexible enough to respond to unplanned requests from stakeholders.
The change control board is used to review change requests and determine whether they should be approved or denied. The most appropriate selection in this scenario is to include the customer, project manager, and project team members on the change control board (COB). Part from the project management team, change control board generally consists of key stakeholders such as the project sponsor, customers, consultants, and other subject matter experts.
Lessons Learned: Is the knowledge gained during a project which shows how project events were addressed or should be addressed in the future with the purpose of improving future performance. Lessons Learned Knowledge Base: A store of historical information and lessons learned about both the outcomes of previous project selection decisions and previous project performance.
The focus of a lessons learned meeting can vary. It can focus on many things, such as technical development, design strategies, future improvements, or process flaws found. Experience to provide information that could improve efficiency and effectiveness for future projects and project teams.
A scheduling tool is being used to control the project schedule for ex. Microsoft Project 2016 where it has a feature that allows you to perform what-if scenario analysis.
Proposals are an input of the Conduct Procurements process. The majority of the work in this process is undertaken by the seller. Proposals are created by the seller, and they usually include any information that was requested in the procurement documents issued by the buyer.
When managing a global team, differences in culture pose the greatest challenge because attitudes towards authority, rank, and position vary greatly by geographic region. Just to name a few, these challenges may be tied to differences in language, religion, gender roles, business practices, and local customs. Cultural issues should be on the agenda early to increase team awareness of these differences and to allow team members to express their concerns.
Schedule Performance Index (SPI) determines whether the project is behind, on, or ahead of schedule.Cost Performance Index (CPI) determines whether the project is over, on, or under budget. If the CPI < 1, then the project is over budget. If the CPI > 1, then the project is under budget Since the CPI is greater than one, the project is currently under budget.Review the following calculation of the CPI for this. If the SPI <1, the project is behind schedule. If the SPI >1, the project is ahead of schedule. Since the SPI is greater than one, the project is currently ahead of schedule.Review the following calculation of the SPI for this.
Develop Schedule: The process of analysing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule model. Monitor and Control Project Work: The process of tracking, reviewing, and reporting the progress to meet the performance objectives defined in the project management plan. The Direct and Manage Project Execution process enables the project manager and project team to perform the necessary actions to ensure the Project Management Plan is executed. It uses the Project Management Plan as its main source of information about how a project will be executed.