|
In this issue... |
|
 ,
Welcome to the mid-year of 2011! Time flies indeed. How are you doing so far with your PMP Exam studies? Can you truly say that you are ready to take the PMP Exams? Don't you think it is time to move forward and step up?
For the whole month of June, I will share with you four videos wherein I will discuss the overview of what the PMP Exam is all about - it's value to you and the process you will have to go through to become PMP certified. This week, you will have access to the first video so continue to read on.
Let me also share with you my article "Would The Real PMP Exam Question Please Stand?" which will hopefully help you realize that practicing in the real-like PMP exam environment is a very effective learning strategy.
Enjoy this week's issue of the PM Exam Newsletter!
Until Next Time,
Cornelius Fichtner, PMP
President, OSP International LLC
|
PMP Exam Product Spotlight
|
|
The PM Exam Simulator gives you an "insider's view" of the actual PMP Exam. With this PMI R.E.P. approved exam simulator, you have the opportunity to practice on 1,800 highly realistic PMP Exam sample questions based on the current PMBOK Guide. Practice "like real" with the 90-day access as often as you want. Read detailed explanations alongside all answers and learn why your answer was / was not correct. Practice and learn effective test taking strategies with The PM Exam Simulator and pass the PMP Exam on your first try!
Test drive the PMP Exam today! Order now.
|
|
Would The Real PMP Exam Question Please Stand? |
 One of the most critical skills of a Project Management Professional (PMP) is the ability to cut through the jungle of "undergrowth" of extraneous details and identify the true challenges. The PMP certification exam may at first look as if it is full of confusing questions and immaterial detail but it's designed in such a way that it also tests this crucial area of judgment.
If you can cut through the noise and identify the important facts, you'll do fine on the exam.
As you take the exam, you'll see some very difficult questions that are cluttered with facts and figures that aren't really pertinent to the actual question. The exam is very detail-oriented and demands your best reasoning skills. It is also vital to remember that the PMI way of thinking is the important thing here, even though you may have developed different techniques. Look at each question from the point of view of the "deal" project environment described in the PMBOK Guide. You'll find it easier to cut through the inconsequential fluff and find the real question.
For instance, Acme Company has to choose between two projects. Each will cost 120,000 dollars and take the same amount of time. The first one would reap immediate benefits, reducing costs of production 120,000 dollars per year. The second would involve developing a new product and over 3 years could possibly net the company 360K dollars. Are they both equally beneficial or is one more attractive than the other assuming the discount rate is 5 percent per year? The test then gives you a choice of the percentage of advantage one project has over the other. With an average of less than ninety seconds to answer each question, you'll have to be ready for the flurry of figures and red herrings thrown your way. So prepare by taking lots of sample tests. By taking online and other types of practice tests, you will soon be able to identify the real question and know the proper solution instead of being sidetracked and wasting valuable time.
You'll also be presented with scenarios that include team-building concepts. As an example, your two outside consultants are constantly at odds and the situation is slowing down your project, putting its objectives in jeopardy. The test will present you with choices from the stages of team development or group dynamics. You will have to pinpoint the solution according to the human resources management standards. If you're well versed in this management concept, you'll be able to move onto the next question quickly. If you're not familiar enough with that category, the choices will be confusing.
This is a very important reason why taking practice exams is so crucial to passing the PMP exam. By quickly eliminating all the unnecessary information and getting to the core of the problem in those test questions, you'll be able to pass the exam with a minimum of stress and a maximum score. You're also honing your critical thinking skills, which will improve your job performance and success rate.
There are several types of questions you'll be asked during the exam. There are scenario based questions, questions where you have to select the best course of action and fact-based questions testing your knowledge of the PMBOK Guide. You'll be asked to make calculations, interpret simple diagrams and select exceptions from four possible answers. There will be conceptual problems presented as well as short stories. It's important not to let the sheer volume of information in some of the questions overwhelm you; by quickly picking out the pertinent facts, you'll be able to get to the core of the problem and present the correct solution.
Remember that the purpose of these types of questions is to ascertain whether you're able to focus on the problem instead of being distracted by the peripherals. With this in mind, you can take the practice tests and become proficient at the thinking processes necessary for answering the questions correctly and doing your job efficiently.
|
|
PMP Exam Overview Part 1 of 4
|
|
 This video provides an overview of the Project Management Professional (PMP) exam. It's value to you and the process you will have to go through to become PMP certified. We look at the prerequisites for taking the exam, the cost and the fact that once passed you will have to continue to maintain your certification by gaining PDUs.
This is part 1 of 4. Here is the link to the video: http://bit.ly/kWo7tb
|
|
Sample PMP Exam Question
|
 You are managing a construction project. You are currently estimating the duration of a very critical activity. You have gathered the following information from the experts:
Best case scenario: Activity can take 3 days to complete.
Worst case scenario: Activity may take up to 12 days to complete.
Expected scenario: On average it takes up to 6 days to complete such activities.
What duration you will put into your schedule for this activity if you want to put some weight on the expected scenario?
A. 7 days
B. 7.5 days
C. 6 days
D. 6.5 days
Hint: Use PERT to calculate.
|
|
|
Exam Tip: Why do we use a Probability and Impact Matrix? |
 The probability and impact matrix sounds very complicated, but the concept is actually something that most people use in their everyday life quite frequently, although in a simpler form.
The probability and impact matrix comes into play when the project manager or team members determine that a particular phase or activity within the project contains a certain amount of risk. That risk needs to be quantified.
Each risk is given two sets of criteria which are then viewed on the probability and impact matrix. Each potential event is rated based on the likelihood that it will occur. It is also separately rated regarding how much of a problem would be created if it were to occur. The probability and impact matrix is used because it allows you to merge both of these components onto the same scale.
The matrix is used to review both sets of criteria at the same time. The result is that each potential risk can be designated as a low risk, a medium level risk or a high risk and then handled accordingly.
Now go ahead and open up your PMBOK Guide on page 292 and look at figure 11-10, which is an example of a probability impact matrix. The probability that a particular even will happen is shown along the left side of the chart and the degree of impact is shown along the bottom.
For example:
If the probability level was very low (.10) and the potential impact was also low (.10), the score on the matrix would be a .01.
If the probability level was medium (.50) and the potential impact was medium (.20), the score on the matrix would be .10.
If the probability level was higher (.70) and the potential impact was higher (.40), the score on the matrix would be .28.
The higher the matrix score, the higher the risk level associated with the item that is being analyzed.
|
|
Solution
|
|
The correct answer is: D
Reference: PMBOK4 - pg:150
Explanation: Since you want to put some weight on the expected scenario, you will use the PERT formula. Your estimate will then be 6.5 days. Hence choice D
is the correct answer.
|
|
Lessons Learned from Karl Stiller
|
I achieved the PMP certification on the 24th of May 2011. I would like to thank my wife for all the support, my 2 year old daughter for having to put up with all the excuses, and the support from my in-laws and my family. Also thanks to my lecturers, Cornelius Fichtner, Rita Mulcahy, and Harwinder from The Deep Fried Brain.
I used the following resources during my preparation for the exam:
- An MBA course in project management from a local university here in Brazil.
- The PM Study Coach from Cornelius.
- PMBOK 4th Edition (read cover to cover twice)
- PMP Exam Prep, Sixth Edition: Rita's Course in a Book for Passing the PMP Exam by Rita Mulcahy (read it 3 times)
- The PM Exam Simulator from Cornelius.
- A free practice exam from PM Study.
- The Deep Fried Brain Blog from Harwinder.
My journey for the PMP exam started at the end of my MBA course. A study group was formed with 3 other members of the course to prepare for the exam. Each week we revised a chapter of Rita Mulcahy's book. We mixed the chapters, taking a "difficult" chapter (by Rita's definition) one week, then an "easy" chapter the next week. We completed the questions at the end and met to run though all the questions in which somebody of the group had made a mistake. Also each person took a turn in summarising the chapter for future referral. Although I felt I learnt something during the process, I decided to stop meeting with the group after we summarised the book. I felt that the group was progressing too slowly. The time spent going through the questions wasn't worth the trouble and I wanted to speed up. So I quit and started out on my own.
My first step was to purchase the PM StudyCoach. I followed the instructions from Cornelius, most of the time to the letter. I learn better by writing, so I followed the previous strategy of summarising, however, instead of summarising Rita, this time I summarised the PMBOK, then I would read the corresponding chapter from Rita. And then completed a list of 75 questions on the topic from my MBA course. I studied approximately 1-2 hours during the week at work (I had a nice quiet environment after 6pm) and around 4 hours on either Saturday or Sunday, taking the other day off. Read more..
|
|
|
|
