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In this issue... |
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 Hello ,
This week was an exciting week for us because The Short Guide to Becoming a PMP is now available for download.
For project managers who are preparing to take the challenging PMP exam, The Short Guide to Becoming a PMP will help you get started. This is a FREE e-book designed to help you prepare for and pass the exam with flying colors. Click here to get your copy now!
Our newsletter this week will be jam-packed with information that will help you pass the PMP Exams easily. Read this my expert tips, article and sample Q & A. Also don't forget to check out our recommended study material.
Read on and enjoy!
Until Next Time,
Cornelius Fichtner, PMP
President, OSP International LLC
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| Recommended Study Materials |
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 The Ultimate Classroom Training for PMP Exam Success
Simplilearn's PM Classroom Training
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- Weekly webinar after the classroom training for continued learning and assistance with resolving queries.
- 5 full-length (200 Questions, 4 hours) PMP Simulation Tests.
- Limited Number of Participants per Batch for better focus.
- Self paced study material with anytime, anywhere access to user-friendly Learning Management System.
- PMI approved Audio-video course content and offline reference material.
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| Schedule Your PMP Exam Today! |
You've decided that you want to take the Project Management Professional (PMP) exam, congratulations! You're taking one of the biggest steps of your career but there is a bit of planning to do and some details to take care of beforehand. First, be sure that you have the qualifications, experience and contact hours required and have documentation for each should you need it. Then you're ready to apply for the exam. You may want to join the Project Management Institute (PMI) before you apply, as it will save you substantially on the application fee. You'll also get a free PMBOK Guide in electronic format.
You can apply to take the PMP exam online or by paper form. I recommend doing it online, since it is a lot less hassle. You will have to pay the required fee as you submit the forms. This financially commits you to this particular "project" and you are now already less likely to procrastinate. We all tend to put off what we fear are unpleasant or daunting tasks but this is one task that is neither!
After you apply, you'll receive an email of acceptance from the PMI and it will give you instructions on how to schedule an exam appointment. You will take the exam in one of the many Prometric test centers worldwide, and the Prometric website is also the place where you schedule the exam online. There is usually no problem scheduling your exam unless you want a Saturday appointment. Many people who have taken the exam recommend taking it on a Tuesday; you've had the weekend to rest up and the day prior to testing to wind up loose study ends and be absolutely certain of your knowledge.
You have a year after applying to take the exam but don't wait that long. It really is best to go online and set your exam date right away. If you schedule it for about three months after you receive your acceptance, you'll have time to study without having to cram. Knowing you've committed yourself to this project might be a bit stressful so don't shortchange yourself on preparation time and contribute to that stress. The year allotted between acceptance and actually taking the test is to allow for rescheduling should a complication arise. One of your jobs is to make sure there are no delays by carefully planning for the test and allowing for unexpected surprises that could deter you from your goal. Look carefully at your schedule and personal obligations before you schedule the exam and then choose a date accordingly.
After you schedule your exam, it's time to make a study plan. It is best to choose the same block of time every day so that you can settle into a predictable routine that will be conducive to learning. You may want to take a formal class or study on your own but however you decide to study, be sure to take practice tests. You can find them in books or in several places online. There are also many online PMP forums you can join. Here you can communicate with other PMP students like yourself, often find free practice questions and these forums are generally a good place to find help and encouragement as you prepare for your PMP exam.
The exam is computer based and begins with a fifteen-minute tutorial. It probably won't take you that long to go through the tutorial but be sure that you clearly know the instructions. The test consists of two hundred multiple choice questions and you have four hours to complete it. You'll get your score at the end of the test and know immediately that you passed. It's best to arrive early so you can settle in and become comfortable in your surroundings. As you are sitting in front of the computer to take the test I recommend that you relax, pace yourself, take a deep breath and then click on "Begin".
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| Video: PMP Exam Tip |
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 Reading and understanding the PMBOK Guide concepts and your Exam Prep book will help you obtain your PMP Certification.
Watch this video we have prepared for you: http://bit.ly/hxsBph
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Sample PMP Exam Question
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 A risk has a potential impact of $50,000 if it happens. The probability of the occurrence of this risk is 50%. What is the expected value for this risk?
A. 100000
B. 75000
C. -50000
D. -25000
Hint: Calculate the expected value by EMV formula. Also note that threats are treated as negative numbers.
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Exam Tip: Interpersonal Skills a PMP Needs: 8. Negotiation
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In Appendix G, the PMBOK Guide discusses Interpersonal Skills for the project manager. We are currently reviewing these one by one in our weekly PMP exam tip and we have reached the last one in the series: Negotiation.
The nature of the role of a project manager makes it essential for them to have good negotiation skills. There are usually many stakeholders involved in the project and most projects have team members from different departments. This usually results in several different points of view which can sometimes make it difficult to keep the project on track and within the original scope.
Negotiation skills help a project manager by reaching an agreement or a compromise of some kind on the issue that may be causing a problem or delay.
There are many negotiation skills that you should be able to use related to negotiation. These include being able to analyze each situation, being an active listener and clearly communicating throughout the discussion. It can be useful to identify the differences between the wants vs the needs of those involved. Another important focus is to realize the difference between the positions people have vs the interests and issues directly related to the project.
Above all, skilled negotiators have the ability to manage the situation so that all parties involved feel as though they had a say that was taken into consideration.
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Solution
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The correct answer is: D
Reference: PMBOK4 - pg:298
Explanation: EMV for a risk is calculated by multiplying the value of its impact by its probability of occurrence. This will result in -$25,000. Choice D is the correct answer to this question.
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Lessons Learned from Travis Beahlen |
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My journey towards the PMP certification began in late March. I just passed my exam today with proficient in 4 categories and moderately proficient in the last category. I must admit I took a long time to prepare just because I was not certain my project management experience would qualify to PMI's standards. I did not really focus until July of this year when I finally sat down and filled out the application. If I had it to do over again I would have filled out the application first and then began my studies. I was much more focused and even enthused about PMI accepting my application for approval. It was a truly a milestone in my journey.
Materials I used for preparation were Rita Mulcahy's PMP Exam Prep, Andy Crowe's book and the PMP Head First book. I also used The PM Prep Cast. I read Rita's book and the PMP Head First book cover to cover. I loved the PMP Head First book. It made the topics easy and fun. Andy Crowe's book came with a voucher code to the Velociteach web site. It provides about 14 hours of video instruction. This 14 hours is very valuable information and I highly suggest it. I did not read the Andy Crowe's book from cover to cover. I did take all the tests in each book I listed here. I went through the PMP Prep Cast twice. The 2nd time I took notes. If I had it to do again I would probably take watch Andy Crowe's Velociteach lessons and the PMP Prep cast and take notes on each and every lesson. It would have probably sped up my preparation.
I also bought access to the PMP Exam Simulator. I took 7 out of the 9 tests scoring between 78 and 82 percent on each one. I would say the question in the PMP Exam simulator are very wordy compared to the actual exam. However don't think that your time sitting the actual exam is going to be shorter because I found my self re-reading many of the actual PMP exam questions over and over again because I knew this counted. So it is a good thing that the exam simulator is that wordy and I found the time to take both the simulation and the actual exams very comparable.
Tips for the exam. Memorize the ITTO's for procurement and risk. I am not saying this because I think memorization is the way to go. I am saying this because it wasn't until I started to try to memorize these two tables did I start to identify where my knowledge gaps were. Memorization helped me understand because if I found a gap I went back and tried to understand why I couldn't remember that particular ITTO. The actual PMP test tested heavily on these two subjects.
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