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In this issue... |
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 Hello ,
Here we are again for another issue of the PM Exam Tips Newsletter. If you are looking for the best way to pass the PMP Exams then you made no mistake in subscribing to this newsletter.
This and next week I will share the "10 Steps to Becoming a PMP" with you. Read the first five steps below...
Read this week's PMP Exam tip: If you fail your PMP Exam twice, then consider
waiting a bit instead of taking it for a third time right away.
I really hope though that you will NEVER have to make use of
this week's tip.
Also read more about our recommended study material: The PMBOK Guide. Remember to try to answer this week's sample question too! Enjoy!!
Until Next Time,
Cornelius Fichtner, PMP
President, OSP International LLC
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| Recommended Study Materials |
 The PMBOK Guide
If you're preparing for the Project Management Professional (PMP) Exam or the Certified Associate in Project Management (CAPM) Exam, we recommend The PMBOK Guide (Disclosure: Compensated Affiliate) as one of your reference materials. It will help you cover the step-by-step process of project management. It will also provide you the ideas of some of the exam questions that you will encounter. Most project managers reading this book found how a lot of the exam questions came from this guide.
Are you preparing for the PMP exam yourself? Then a couple of good practice that you can start with are (1) going through 1 of the 42 process every day as 1 process wraps up 1 Knowledge Area or chapter and (2) familiarizing yourself with the PMP vocabulary by checking the Glossary.
The newest edition illustrates Project Management Institute (PMI) commitment to a well defined and straight to the point writing by raising quick questions and stressing the project management's core essentials. This guide is handy if you want to enhance your knowledge about project management or if you simply want to improve your project management skills. It provides an up-to-date knowledge of project management concepts.
The great news is that if you are a member of PMI, you will receive a FREE PDF copy of The PMBOK Guide. If you prefer a printed copy, you may order by Clicking Here!
(Full Disclosure: The PMBOK Guide is an affiliate product.If you click and choose to purchase the book, we will earn a commission.)
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10 Steps to Becoming a PMP: Part 1
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 For most PMP Aspirants the first steps on the way to their PMP certification are the most difficult ones. The process looks extremely difficult and I hope that these 10 Steps will help you on your way to becoming a PMP. Here are the first 2 steps.
Step 1: Read the PMI Credentials Handbook.
The PMI has published a Credentials Handbook, which you can find at the following URL: http://www.pmi.org/Certification/~/media/PDF/Certifications/pdc_pmphandbook.ashx.The Credentials Handbook explains everything that you want to know about the process of taking the PMP exam and becoming PMP certified. Reading this handbook takes about 20 minutes and it should be the FIRST 20 minutes on your journey to becoming a certified PMP. It will answer most of your questions about the procedures of applying and taking the exam.
Step 2: Make sure that you are eligible.
It is really quite simple to find out, if you are eligible or not to take the PMP Exam.
Do you have a High-School Diploma, an Associate's Degree or the global equivalent of these? Then you must have a minimum of five years (60 months) of unique, non-overlapping professional project management experience of which at least 7,500 hours must have been spent leading and directing project tasks. (Non-overlapping means that if you managed two projects in the year 2006, then that only counts as 12 months and not as 24.)
Do you have a Bachelor's Degree or its equivalent in your country? Then you must have a minimum of three years (36 months) of unique, non-overlapping professional project management experience of which at least 4,500 hours must have been spent leading and directing project tasks.
In both cases, you must also show that you have had 35 "contact hours" of project management training. The good news is that all project management related training from your whole life counts. So if you are 30 years old and you took a 2-day PM class when you were 21 years old, then you already have 16 contact hours.
Step 3: Become a PMI Member & Member of your local PMI Chapter.
Becoming a member of PMI International makes financial sense, because as a PMI member you will not only receive a free PMBOK Guide but you will also receive a substantial discount on the PMP exam. In fact, the discount is bigger than the membership fee. So even if you don't want to stay a PMI member for life, becoming a member in your first year makes sense.
Becoming a member of your local PMI Chapter can also make sense, because most chapters offer PMP Prep Workshops. Again, as a member you usually receive a discount that is greater than the membership fee. Your local chapter is also a great resource for PMP information. You can attend your chapter's dinner meeting and speak in-person with new and seasoned PMPs about the exam. They will be very happy to answer your questions and help you. And you will also meet PMP aspirants like yourself and you can form a study group. Studying together is more fun and increases your chance of passing.
Step 4: Sign up for the Exam.
"I want to become a PMP" is a good plan. But "I want to become a PMP and my exam date is in 3 months" is a much better plan because we all work a lot better when we have a deadline. To sign up, you first have to fill in the PMP Credential Application and submit it to the PMI. You can find the paper application in the Credential Handbook (see step 1 above) but you definitely want to apply online at http://www.pmi.org. Once your application has been approved you will receive a letter from the PMI. Now you can apply to take the exam on the Prometric Website at http://www.prometric.com/PMI/default.htm. The PMI doesn't perform the test themselves - instead they use Thomson Prometric, a testing company with testing centers around the world. Depending on where you live you may have to travel quite far to take the exam. So you definitely want to schedule this well in advance.
Step 5: Read the PMBOK Guide. Twice.
About 75% of the questions on the PMP Exam come from the PMBOK Guide. You must know it. And the only way to know it is to read it at least twice.
Read Steps 6 - 10 next week...
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| Answer at least 1,000 PMP Exam Sample Questions |
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 The most important activity as you are preparing for your PMP Exam is to take as many sample questions as possible.
Watch this video we have prepared for you: http://bit.ly/hbcI2z
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| Sample PMP Exam Question |
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You are managing a software development project. You have completed 40% work of the project scope. The project approved budget is $10,000. How much you have spent to date on the project if your CPI is 0.8?
A.5000
B.4000
C.5500
D.4500
Hint: First calculate the EV and then calculate the AC. |
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Exam Tip: Consider waiting if you fail your PMP Exam twice
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 OK, I really hope that you will NEVER have to make use of this week's PMP Exam tip: If you fail your PMP Exam twice, then consider waiting a bit instead of taking it for a third time right away. Here's why:
Once your PMP Exam application is approved you are given one year and three attempts to pass. In case you fail all of these three attempts, you need to wait one year before filing another application to try again.
So... If we assume a worst case scenario of you failing the exam twice within ten months, this means that you now have two months and one more attempt to pass the exam left. But think about it: you are already nervous, studying to pass the exam has become a real chore and you may question your ability to pass the exam. Add to this your personal life, your work load that may come in the way of your studies and you can see that your third attempt might not go well either. And if you really fail a third time, then you'll have to wait one year to re-apply.
So why not give yourself a clean slate?
Instead of going head first through this wall and failing for a third time, simply let your PMP Exam application expire, apply again and give yourself another year and 3 fresh attempts. Granted, doing this is more expensive (PMI members pay $275 for a re-examination vs. $405 for a full application), but it removes the pressure of having to cram for your 3rd attempt in the short time left as well as as the mandatory 1 year wait after the failed 3rd attempt.
Of course, this is a very personal choice and the timing of when you failed your first two attempts must be considered as well. If you take good measures to pass on your third attempt, or if your two failed attempts happen early on in your eligibility period then it might be better for you to go and try for a 3rd time right away. But if you're unsure about your readiness or if time is running out, then letting your application expire is a valid choice.
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| Solution |
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 The correct answer is: A
Reference: PMBOK4 - pg:182
Explanation: EV can be calculated by the formula EV = %complete x BAC = 40% x $10,000 = $4,000. AC can be calculated by the formula AC = EV/CPI = $4,000/0.8 = $5,000. Choice A is the correct answer to this question.
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Lessons Learned from Bradley Likes, PMP |
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I passed the PMP exam in July 2011 and found the Prepcast tool invaluable in "topping up" my base knowledge, and reinforcing key knowledge areas. My study repertoire included Rita Mulcahy's RMC PMP exam prep system - this was my initial and base building source - and I also added The PM Prepcast toward the middle-back end of my study period, to act as a supplementary resource.
The easily digestible content, structure and learning style suited me and my study plan perfectly, and found I was listening to podcasts on my commute to and from the office on most days. I also used traveling time in the car as a listening period.
I allocated a study block of 7 weeks to preparing for the PMP exam. Wks 1-4 were spent reading & digesting the RMC PMP exam prep system, and I added The PM Prepcast in Wk 5 - which basically gave me 3 clear weeks to focus on this.
To borrow a sporting term, I focused on the "1 percenters". Even if I only had 10 minutes available, I listened to a portion of a podcast, as I figured this was better than nothing! At the end of the period, the "1 percenters" quickly added up to a significant chunk of quality listening & digesting time.
So my best advice is to capitalise on the available time you have, even if it's just 10 minutes. The PM Prepcast is a perfect solution for these times!
For more success stories, click here.. |
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This November 2011, we are offering you the PM Prepcast
at 15% off from it's original price of $99.97.
Redeeming this great deal is easy!
First watch this video here: http://www.youtube.com/watch?v=8tG81gp6AuQ to learn how to use the coupon.
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