PMP Exam Prep

Virtual Instructor Led

EXAM LOGISTICS

• PMP® exam blueprint.
• Types of questions.
• Project Manager Role Delineation Study (RDS).
• Develop your customized study plan.
• Exam study tips.
• What to expect on exam day.

PM FOUNDATION

• Relationships among Portfolio Management, Programs, Operations, etc.
• Organizational influences and Project Life Cycle.
• Enterprise environmental factors.
• Organizational process assets.
• Defining, importance, and governance of stakeholders.
• Understanding the 3 project management domains – (People, Process and Business Environment) from Predictive, Agile/Adaptive, and Hybrid project management methodologies “tailoring” perspectives.
• Pilots’ view of PMBOK Guide – Sixth edition (5 Process Groups, 10 Knowledge Areas and 49 Processes); PMBOK Guide – Seventh edition (8 Domains and 12 Principles); SCRUM (3 Roles, 4 Artifacts, and 5 Events); in easy-to-understand language.

INITIATE PROJECT

• Develop Project Charter: Formal authorization of the project or phase.
  • Develop Vision statement; Product Roadmap
• Identify Stakeholders: Document stakeholders’ interests, power, expectations and potential impact on the project.
  • Appoint team

• Develop Project Management Plan: Document actions to define, prepare, integrate, and coordinate subsidiary plans into the project management plan.
  • Release and SPRINT Planning
  • SCRUM Strategies
• Plan Stakeholder Engagement: Determine appropriate strategies to manage stakeholders.
• Plan Scope Management: The plan on how the scope will be defined, validated and controlled.
• Collect Requirements: Defining and documenting stakeholders’ needs to meet project objectives.
  • Epics
  • User Stories
• Define Scope: Develop a detailed description of the project and product as a basis for future decisions.
  • Product Backlog
• Create WBS: Subdividing major deliverables into smaller components.
  • SPRINT Backlog
• Plan Schedule Management: How the schedule will be developed, managed, controlled etc.
• Define Activities: Decomposing the WBS completed during scope into activity lists.
  • SPRINT Backlog tasks
• Sequence Activities: Determining the dependencies for each activity.
  • Prioritize backlog
• Estimate Activity Durations: How long will each activity take with the resources we have assigned?
  • Lightweight, Relative estimates
• Develop Schedule: Producing the schedule baseline. We will work through a network diagram to calculate each activity’s critical path and float.
  • SPRINT planning meeting
• Plan Resource Management: Define how to estimate, acquire, manage, and utilize physical and team resources. Identifying roles and responsibilities. A.k.a. the infamous RACI chart.
• Estimate Activity Resources: Estimating the types and quantities of resources required to complete the activities.
• Plan Cost Management: The plan on how the budget will be developed, managed, controlled etc.
• Estimate Costs: What does each activity cost?
  • Lightweight, Relative estimates
• Determine Budget: Rolling up all the activity costs to determine the cost baseline we will measure our cost performance against.
• Plan Communications Management: Communication plan on whom, what and how frequently we will communicate the project information.

• Plan Risk Management: Assessing stakeholder tolerances to risk and creating the risk management plan for managing risk on the project.
• Identify Risks: Brainstorm a list of risks.
• Perform qualitative analysis: Is the probability and impact of the risks high, low, or medium? I think/gut feel about the risks.
• Perform quantitative analysis: More detailed analysis to quantify the risk. 80% probability the risk will occur with a $50,000 impact on the project. Putting numbers to the risk.
• Plan Risk Response: Now that we have ranked the risks, what will be our response/action to prioritized risks? Choices to threats – Avoid, Mitigate, Transfer or Accept. Choices to opportunities – Avoid, Enhance, Exploit, Share or Accept.
• Plan Quality: Identify the standards, determine the quality metrics and create the quality management plan to obtain overall quality.
  • User story acceptance criteria
  • Definition of done (DOD)
• Plan Procurement Management: Make or buy analysis. Creating the procurement management plan reflects what type of contract we should negotiate. i.e. Fixed Price, Cost Plus, and/or Time and Materials. Creating the CSOW, evaluation criteria and preparing the procurement documents for the potential vendors. i.e. proposals, requests for quotes/bids etc.
• Professional & Social Responsibility
  • Review the PMI® code of conduct. It’s basic ethics, but a must-know for the exam and as a “soon to be practicing PMP”!
  • The 4 PMI® core values: Responsibility; Respect; Fairness; Honesty.
  • Ethics and common sense.
  • Cultural Competence.

• Manage Stakeholder Engagement: Process to communicate with stakeholders to meet their needs and address their issues.
• Monitor Stakeholder Engagement: Monitoring overall stakeholder relationships and adjusting strategies to ensure engagement.
• Manage Communications: Issue management with the stakeholders to ensure conflicts/issues are resolved promptly.
• Monitor Communications: Collecting and communicating all the project performance. Forecasting project performance and taking corrective action as required.
• Validate Scope: Formal acceptance of the completed project deliverables.
• Control Scope: Monitoring the status of the project and product scope and managing changes to the scope baseline.
• Control Schedule: Monitoring the schedule compared to the plan and taking appropriate action.
• Control Costs: Influencing the factors that create cost variances and taking corrective action as necessary
• Manage Quality: Evaluate our processes to ensure we will satisfy the quality standards in the quality plan.
• Control Quality: Inspect the various project deliverables and results to ensure they meet the standards.
• Implement Risk Responses:  Implementing agreed-upon risk response plans.
• Monitor Risk: Keeping an eye on unplanned risks and monitoring identified risks for appropriate action.
• Conduct Procurement: Select sellers and award contracts. Contract negotiations.
• Control Procurement: Manage seller relationships, review seller performance and manage contract-related changes. Close procurement.
• Acquire Resources: Obtaining team members, facilities, equipment, material and other resources.
• Develop Team: Motivate and develop the team to enhance project performance.
• Manage Team: Track team performance, provide feedback and resolve conflict.
• Control Resources:  Ensuring the physical resources are available as planned.
• Direct and Manage Project Work: Execute the work defined in the project management plan to achieve the requirements in the scope statement.
• Manage Project Knowledge: Using existing knowledge and creating new knowledge.
• Monitor & Control Project Work: Monitor and control the processes to meet the performance objectives.
• Perform Integrated Change Control: Reviewing change requests, approving change requests and controlling changes.
• Close Project or Phase: Finalize all activities to formally close the project or phase.

WRAP-UP

• Next steps
• Customized study plan
• QnA