01 Sep

71 Points you would like to know before writing PMP Exam

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1. Shutting down a project is risk avoidance strategy.
2. Beta and triangular distributions are used in Quantitative Risk Analysis.
3. lowest level of RBS can be used as a risk checklist – used in Identify Risks.
4. Sigma Values –
Three Sigma – 93.3
Four Sigma – 99.38
Five Sigma – 99.97
Six Sigma – 99.999665. RAM – Responsibility assignment matrix – RACI is a type of RAM.
6. A process is out of control when a data point exceeds control limit or
if seven consecutive points are above or below the mean.7. Difference between Control Limits and specification limits?8. Value of control limits – generally between Plus minus three sigmas

9. Failure costs are Costs of poor quality. Cost of quality includes
all costs incurred over the life of the product by investment in
preventing non conformance to requirements and failing to meet
requirements (rework).

10. Cost of conformance – Build a quality product + Appraisal costs

11. Cost of non conformance – Internal Failure costs + External Failure costs12. To perform ETC, additional costs are incurred for the project and
there is no budget to do so. EAC = AC + Bottom up ETC.13 The cost performance baseline is an authorized time phased budget at
completion (BAC) used to measure, monitor and control overall cost
performance on the project.

14 Cost baseline excludes management reserves.

15 Bar charts are frequently used in management presentations. For
control and management communication, more comprehensive summary
activity referred as HAMMOCK ACTIVITY is used.

16 Resource Leveling can often cause critical path to change.

17 Diff between quality control and verify scope – ensure / accept.18 Verify scope includes deliverables review with the customer / sponsor
to ensure that they are completed satisfactorily.19. 100 Percent Rule: The WBS represents total work including Project
Management Work, this is called as 100 percent rule.

20. A control account may contain one or more work packages but each work
package must be associated with only one control account.

21. Project Scope Management processes are preceded by some planning
effort which produces a scope management plan.

22. Change Requests is not an input but an output to control scope process, why?

23. Close Project or Phase

24 Project manager will review and ensure that all project work has
completed and has met its objectives.

25 Project scope needs to be reviewed to ensure completion.

26 Project closure should document the reasons if project is terminated
before completion.
Project closure should address:
– activities that satisfy completion or exit criteria for the phase or project.
– activities necessary to transfer the project’s products, services or
– results to the next phase or to production and/ or operations.
– activities needed to collect project or phase records, audit project
-success or failure, gather lessons learned and archive project
– information for future use.

27 Change requests should pass through change management or/and
configuration control systems. Configuration control is focused on
specification of both deliverables and processes while change control
is focused on identifying, documenting and controlling changes to
project and product baselines. Configuration management activities
carried out in integrated change control processes are:

Configuration identification
Configuration Status accounting
Configuration verification and audit

28 Performance Measurement Baseline – scope, schedule and cost baseline

29 kill points, phase exits, milestones , phase gates, decision gates are
same things. (when phases are sequential)30 Functional Weak Matrix Strong Matrix etc.31 Difference between PDM and AON – Same thing
PDM and ADM – Placement of activity on the logic diagram line.

32 Problem Solving and Compromise are two best conflict resolution techniques,
in that order.

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33 Expert Power is best form of power.

34 Reward Power next best form of Power, then Formal and then Referent.

35 Net Present Value (Formulae) – Uses Internal Rate of Return, enough to remember to select project with max NPV while selecting.

36 Staffing management plan contains
– Training needs
– Recognition and Rewards
– Release criteria

37. Point of Total assumption. This is where seller assumes the cost.
The costs have become so large in a fixed price contract (FPIF) that
there is no benefit attached.

38. Motivational Theories

– McClelland Achievement Theory
– McGregor X and Y
– Maslow
Self-transcendence
Self-actualization
Esteem
Love and belonging
Safety needs
Physiological needs
Expectancy Theory

Herzberg – Hygiene theory

39. Funding Limit Reconciliation

40. Return on Investment
41. Cost baseline:
42. Network Templates or Schedule Network Templates
Expediting the preparation of networks of project activities. Useful
when project includes identical or nearly identical deliverables.43. Constructive change request: A direction by the buyer or an action
taken by the seller that the other party considers an undocumented
change to the contract. This can lead to a claim.44. A Risk Management Plan includes:
Methodology
Roles and Responsibilities
Budgeting
Timing
Risk Categories
Definitions of Risk categories and Impact
Probability and Impact Matrix
Revised Stakeholders’ tolerances
Reporting Formats (strange but yes)
Tracking

45. Liquidated damages (LDs) are contractually agreed payments in
order to cover the customer’s costs caused by late completion or
failure to meet specifications by the contractor.

46 . Perform Integrated Change Control : This process includes
configuration management activities such as
– Configuration Identification.
– Configuration Status Accounting.
– Configuration verification and Audit.

47. When Requirements Documentation is done?

48. Basis of Estimates include?
49. Assumptions Analysis is used during Identify Risk process.50 Quality Control
Prevention – Keeping errors out of process
inspection – Keeping errors out of the hands of customer
Attribute Sampling – Result either conforms or not conforms
Variables Sampling – Result is rated on continuous scale. (measures
degree of conformity)
Tolerance – Specified range of acceptable limits
Control Limits – thresholds, indicating if the process is out of control.51 The PM team is a subset of Project Team (Core, Executive or
Leadership Team) :The Sponsor works with the PM team, assisting in
matters such as funding, clarifying scope, monitoring progress and
influencing others for benefit of the project. Ground rules establish
clear expectations regarding acceptable behaviours by Team members.

52. Weighting System can be used to select a Seller. (Subjective)

53. Communications Management Plan: Comm. needs and expectations of the
project, how and in what format information will be communicated, when
and where communication will be made and who is responsible for
providing the information.

54. Stretch Assignment

55. Scope Creep – Uncontrolled Changes.
56. Active Risk Acceptance: Most common way is to build contingency
reserve (time, money or resources).
57. Burn Rate – Inverse of CPI.
58 CPAF – The award is decided by the Buyer and generally not
subjected to appeals.
59 Sensitivity Analysis – tornado diagrams.
60 Passive acceptance of risk requires no action except to document
the strategy, leaving the project team to deal with the risk when it
occurs.
Accept is a risk strategy for both, POSITIVE and NEGATIVE risks.61 Joint Quality policy can help is multiple vendors environment.
Project Team should ensure that participating orgs are aware of the
policy.62 Variance Analysis is used for control processes – control scope,
schedule etc and Report Performance Process also.

63 In earned value management technique, Cost Performance Baseline is
also referred as PMB – Performance Measurement Baseline. Cost
Performance Baseline is used to assess funding requirements.

64 A heuristic is BEST described as a Rule of Thumb.

65. Conflicts on projects caused by
– Resources
– Project Priorities
– Schedule
– Technical Opinions66. Who determines the role of a Stakeholder?
67. Read Risk Reserves.
68. Matrix – Read Weak, Strong
69. What is RPN number?
70. Project constraints are Scope, Quality, Schedule, Budget, Resources and Risk.
71 . Hard logic – Mandatory Dependencies.
Soft logic – Discretionary or preferential. ( Such as best practice).

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