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In this issue... |
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In this newsletter I will once again share with you some very important tips and information about the PMP exam changes that will take effect on the 31st of August 2011. What does this really mean for you?
We are also offering a $15 discount on The PM Exam Simulator by just simply getting "social". Read on and see how it works.
Also watch this week's video where I will give you an overview of the Project Integration Management. This will help you a great deal in preparing for the PMP Exam.
Enjoy!
Until Next Time,
Cornelius Fichtner, PMP
President, OSP International LLC
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PMP Exam Product Spotlight
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The PMP Exam Changes On 31 August 2011. What This Means For You. |
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 Every five to seven years, the Project Management Institute (PMI) performs a Role Delineation Study to determine authority ("the role"), responsibilities & duties of project managers today. The findings are then used to update the Project Management Professional (PMP) Exam. In this way, PMI ensures that the PMP Exam is a reflection of what project managers actually do in the field. If PMI didn't regularly go through this process adding new elements and removing old ones, then you would still be tested on outdated methods that were used in the 1980s when the first PMP exam was given.
PMI completed their latest study at the end of 2010. The findings will lead to an update in the PMP Exam on 31 August 2011. Let's look at what this means to you.
The PMBOK Guide Is Not Changing
First of all and most importantly: There is NO change to the PMBOK Guide. The PMP Exam is currently based on the PMBOK Guide 4th Edition. The 5th edition is scheduled for publication at the end of 2012. This means that the PMP Exam will continue to be largely based on the 4th edition until sometime in 2013. Therefore, everyone preparing for the PMP Exam can continue to do so using the PMBOK Guide 4th edition until 2013.
The Exam Format Is Not Changing
The PMP Exam will continue to be a computer-based exam, and you have four hours to answer 200 multiple-choice questions.
The Score Report is Not Changing
PMI stated "At this time, PMI does not anticipate any changes will be made to the PMP score report". This suggests that the way the passing score is determined will remain the same.
The Eligibility Requirements Are Not Changing
The education and experience eligibility requirements for the PMP Exam will remain the same. Please read the eligibility section of the PMP Credential Handbook for the details.
The Exam Changes on 31 August 2011. Period.
The new exam will be rolled out on 31 August 2011 and the last day on which you can take the exam under the current specifications is on 30 August 2011. No exceptions.
Professional & Social Responsibility Will Be Integrated
In the current exam format Professional and Social Responsibility is tested as a separate domain. The Role Delineation Study showed that Professional and Social Responsibility is integrated into all of the work of project management and cannot be seen as separate. The Code of Ethics and Professional Conduct should therefore be viewed and tested as an integrated part of a project manager's day-to-day work.
For the new exam, students will have to understand the effects of Professional and Social Responsibility on their daily tasks. Exam questions will ask about ethical considerations during procurement, mix social responsibility with team management and test your application of professional responsibility in a written status report.
Studying, understanding and living the Code of Ethics and Professional Conduct in your daily work as a project manager will have a much higher importance for the exam.
The Content Of Your Study Materials Will Change
PMI has communicated the detailed changes to the new exam to all Registered Education Providers (R.E.P.s). It is their responsibility to ensure that the content of their training materials is updated. As a student, you should not worry about this. You have a right to expect that your provider ensures that your training materials have the right content for the exam you are taking.
Recommendations For PMP Students
1. Take The Exam Before The Change:
If you are currently studying for the PMP Exam then plan your studies in such a way that you can take the exam before 31 July 2011. The new exam comes into effect on 31 August 2011 and scheduling your exam one month before this date will give you 30 days to retake the exam in case you fail on your first attempt.
2. Use Study Materials From PMI Registered Education Providers (PMI R.E.P.):
PMI R.E.P.s are working hard to update their study materials to the new standard and PMI is supporting them in this effort. PMP students should not worry about the changes of the exam content at all. Instead, make sure to purchase study materials from a PMI R.E.P. and ask them to confirm that the materials which you have ordered are right for you based on your scheduled exam date. You need current materials if your exam is scheduled on or before 30 August 2011 and you need updated materials if your exam is on or after 31 August 2011.
3. Read The FAQ:
PMI has prepared a Frequently Asked Questions (FAQ) page. Reading it will help you to better understand what's coming.
4. Read PMI's Study Tips:
I recommend that you take a look at the PMP Study Tips Page that PMI prepared on their website.
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Project Integration Management Overview
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 In this free episode we give you an overview of the Project Integration Management Knowledge Area. We review what the knowledge area contains, what the general concepts of its processes are, we discuss project interactions, the charter, the PM Plan, historical files and many other concepts. The PM PrepCast contains one episode like this for all 9 knowledge areas in the PMBOK Guide 4th edition. We want you to be well prepared.
Watch this video we have prepared for you: http://bit.ly/inb9Ce
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Sample PMP Exam Question
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You are managing a construction project and your project budget is $20,000. You have spent $17,000 so far and the project is 75% complete. A new project budget of $25,000 has been approved. What should be your cost performance if you want to complete your project within the new approved budget?
A. 1.667
B. 0.882
C. 0.625
D. 0.521
Hint: Calculate the TCPI based on EAC
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Exam Tip: Create a "Battle Plan" for the exam
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The Project Management exam is the hottest certifications exam today. It is the most challenging project management certification exams to prepare for. This is because most of those thinking about taking this exam are at the stage of their career when they are already working full time and then they try to find the time to study for their certification.
If you think that the PMP Certification exam is your average college test where you can cram yet still get high marks, then think again. The PMP exam is anything but easy. It is an experience-based exam in a 200-question, four-hour computerized format. When you are studying for the exam, you could answer the sample questions easily enough in the comfort of your own room with no ticking clocks, no distractions and no security cameras pointing at you. However, during the actual examination, you will find yourself in a radically different setting.
Think of it as the battleground and you as the soldier. And any good soldier would create a battle plan before the exam. He knows that planning can spell the difference between passing and failing. You have to formulate strategies in terms of how to answer and review the questions, how to ease the tension from your body and how to replenish your energy. Your battle plan will seve as your guide during the exam and will help you focus on the task ahead of you. With a battle plan, you will be able to breeze through your exams knowing that you have everything under control and and can maximize the time allotted for you to finish the exam within the allowable period.
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Solution
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The correct answer is: C
Reference: PMBOK4 - pg:185
Explanation: Since you need to calculate your desired future cost performance, you should calculate the TCPI based on EAC by the formula TCPI = (BAC-EV)/(EAC-AC) = (20,000 - 15,000) / (25,000 - 17,000) = 5,000/8,000 = 0.625. Choice C is the correct answer to this question.
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Lessons Learned from Hemant Kumar |
I met my PMP milestone date on Jun 2, 2011. Based on my experience I've following suggestion for succeeding PMP exam.
Since all PMP applicants are professionals along with their Family life so it's very important to get organize your time properly. First put an effort to Read PMBOK guide & The PM Prepcast for two full cycles taking as much time as you can. Then set an exam date. Get ready for a three week plan where the last two week should be full day preparation, keeping in mind that the last day of third week is your exam date. In these three week practice solving questions available in different websites and then read PMBOK, Rita Mulcahy and PM Prepcast. 3-4 days before exam appear for full practice tests available in different websites to get flavor of actual exam.
Few tips
1) Review PMBOK, for all process, Input-Output-Tools & Techniques. Understanding these are real important then memorizing as in exam you will be given a situation to answer.
2) Solve as many questions as you can available in the different source.
3) Practice simulation test before exam and then revisit PMBOK.
Good Luck to all aspirants
Cheers,
Hemant
More tips from new PMPs here..
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