PMP Prep Last Minute

PMP Prep Last Minute

Mufaddal Khandwala

Copyright 2013 by Mufaddal Khandwala

Smashwords Edition

Development, Technical & Production Editing done at: RAJ Technologies & Trade.

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Copyright © 2013 Mufaddal Khandwala at RAJ Technologies & Trade, Bangalore, India.

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ISBN (electronic): 978-93-5126-643-3

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Dear Reader,

Thank you for choosing PMP Prep Last Minute – Quick Reference Guide for PMP. This book is a step towards providing you with quality reading material which would help you ramp up your technical skills with ease and satisfaction.

With each of our titles we’re working hard to set a new standard for the industry.

We hope you see that reflected in these pages. We would be very interested to hear your kind comments and get your feedback on how we are doing. Feel free to let me know what you think about this by sending us an email at books@rajtech.in or if you think you have found a technical error in this book, please visit http://www.rajtech.in.

Customer feedback is critical to our efforts at RAJ.

Happy educative reading.

Thanks,

Mufaddal

Dedicated to His Holiness for his never ending guidance, love and affection.

To my parents, my love and lovely children.

About the Author

Mufaddal Khandwala, an IT Consultant and corporate trainer holds a PG Certificate in Management from Indian Institute of Management, Kozhikode, one of Asia’s top B-Schools, and a Bachelor’s degree in Computer Science. He has over 13 years of experience in large corporations and start-ups in Asia, U.S.A and Europe across industry verticals of airlines, FMCG, Real Estate, Finance, Media & Advertising as well as IT Consulting Companies.

Mufaddal has worked in the capacity of Project Manager, Solution Architect and is passionate about writing on technology and management subjects. While mentoring managers, management students and technology professionals, he realized the need for a series of management books based on quick self-learning. His technology background gives him a good understanding of the management learning needs of non-M.B.A. graduates.

Mufaddal conducts corporate trainings in management & IT subjects and also works as an IT & management consultant.

TABLE OF CONTENTS

INTRODUCTION

HOW TO USE THIS BOOK?

PROJECT MANAGEMENT FRAMEWORK

PROJECT

PRODUCT SCOPE

OPERATIONS

PROGRAM

PORTFOLIO

PROJECTS AND STRATEGIC PLANNING

PROJECT MANAGEMENT OFFICE (PMO)

ORGANIZATIONAL PROJECT MANAGEMENT

BUSINESS VALUE

OBJECTIVES

ORGANIZATIONAL STRUCTURES

ORGANIZATIONAL PROCESS ASSETS

ENTERPRISE ENVIRONMENTAL FACTORS

GOVERNANCE

SUCCESS

TEAM

INTEGRATION

DEVELOP PROJECT CHARTER

DEVELOP PROJECT MANAGEMENT PLAN

DIRECT AND MANAGE PROJECT EXECUTION

MONITOR AND CONTROL PROJECT WORK

PERFORM INTEGRATED CHANGE CONTROL

CLOSE PROJECT OR PHASE

SCOPE

PLAN SCOPE MANAGEMENT

COLLECT REQUIREMENTS

DEFINE SCOPE

CREATE WBS

VALIDATE SCOPE

CONTROL SCOPE

TIME

PLAN SCHEDULE MANAGEMENT

DEFINE ACTIVITIES

SEQUENCE ACTIVITIES

ESTIMATING ACTIVITY RESOURCE

ESTIMATING ACTIVITY DURATION

DEVELOP SCHEDULE

CONTROL SCHEDULE

COST

PLAN COST MANAGEMENT

ESTIMATE COSTS

DETERMINE BUDGET

CONTROL COSTS

QUALITY

PLAN QUALITY

PERFORM QUALITY ASSURANCE

CONTROL QUALITY

HUMAN RESOURCE

PLAN HUMAN RESOURCE MANAGEMENT

ACQUIRE PROJECT TEAM

DEVELOP PROJECT TEAM

MANAGE PROJECT TEAM

COMMUNICATIONS

PLAN COMMUNICATIONS

MANAGE COMMUNICATIONS

CONTROL COMMUNICATIONS

RISK

PLAN RISK MANAGEMENT

IDENTIFY RISKS

PERFORM QUALITATIVE RISK ANALYSIS

PERFORM QUANITATIVE RISK ANALYSIS

PLAN RISK RESPONSES

CONTROL RISKS

PROCUREMENTS

PLAN PROCUREMENTS

CONDUCT PROCUREMENTS

CONTROL PROCUREMENTS

CLOSE PROCUREMENTS

STAKEHOLDERS

IDENTIFY STAKEHOLDERS

PLAN STAKEHOLDER MANAGEMENT

MANAGE STAKEHOLDER MANAGEMENT

CONTOL STAKEHOLDER MANAGEMENT

Introduction

How to use this book?

This book should be used as a supplementary book to the other books you may have. This book is best utilized when you are preparing some other chapter but want to quickly glance through another chapter(s) or when you are gearing up for the main exam and other online/offline practice exams.

Book Organization

Each chapter is organized in the same way: Introduction to the chapter, Valuables, Table of ITTOs (Inputs-Tools & Techniques-Outputs) and last set of additional notes, all this together with Exam Spotlights and Practice Questions.

Introduction to the Chapter

The introduction to each chapter is either the overall introduction of the chapter and at times it is brief description of the processes in that particular knowledge area depending on the requirement of the chapter.

Table of ITTOs

As we all know each process has Inputs-Tools & Techniques-Outputs, thus the Table of ITTOs is pretty much the same in tabular form with a brief description of the bullet above it whenever required.

Exam Spotlight

This area highlights the topics in the way PMI thinks about them and looks at them.

Questions

These Questions would just be an overview of the kind of Questions you may get during the actual PMP exam with relevance to the topic.

Common Terms

These terms are used repeatedly referred in this book as inputs or outputs and referred to by PMBOK® and other books. After the bold headlines the text mentioned indicates the parts which are referred to from those documents.

Project Management Framework

Project

A project is any work that produces a specific result and is temporary. Projects always have a beginning and an end and they are never ongoing. It creates a unique product, service or result for the performing organization.

Project scope

Work and only the work required to produce the project’s deliverables.

Deliverables are determined in part by the customer, but not the sponsor.

Project Life Cycle

A project life cycle is a collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organization or organizations involved in the project, the nature of the project itself, and its area of application.

Project can be broken into several phases, which can be done by using a life cycle approach.

Effective project management requires a life cycle approach to running the project. The project life cycle is comprised of phases.

A sample project lifecycle could comprise of following phases with a possibility of each being executed as a separate project or clubbed with other phase.

Feasibility, Planning, design, coding, testing, installation, conversion and turnover to operations.

Following are the general characteristics of a project life cycle:

* Costs and staffing levels are LOWEST early in the life cycle, peak while the project work is underway, and then drop off as the project nears completion.

* Risk is highest early in the project since uncertainty is high about the project’s deliverables, resource needs, and work required. The likelihood of risk diminishes as the project nears completion.

* Stakeholder influence in the project and its deliverables is highest early in the life cycle but diminishes as the project proceeds because the cost of incorporating changes increases the further the project is into its life cycle.

Why do projects end?

* When they meet their objectives

* Can also end prematurely when it becomes clear that the objectives can’t be met

* Need for the project no longer exists.

Project Management

It is the application of knowledge, skills, tools & techniques to project activities to achieve the project goals.

Project Management Activities

1. Analyze and understand the scope. That includes the project and product requirements, criteria, assumptions, constraints, and other influences related to a project, and how each will be managed or addressed within the project.

2. Understand how to take the identified information and then transform it into a project management plan using a structured approach.

3. Perform activities to produce project deliverables.

4. Measure and monitor all aspects of the project's progress and take appropriate action to meet project objectives.

Product scope

Describes the characteristics and functionality of the product, service, or result.

Product Life Cycle

A typical product lifecycle could be Conception, Growth, Maturity, Decline and Withdrawal. A Product can spawn across many projects over its life.

Operations

Operations are ongoing and repetitive. If you’re building cars on an assembly line, that’s a process. If you’re designing and building a prototype of a specific car model, that’s a project.

Operations and maintenance activities are not part of projects. The work to collect data, meet with operations and maintenance to explain the project, and other such activities should be included in the project.

Program

A program is a group of projects that are closely linked, to the point where managing them together provides some benefit and support central objective. Programs are a collection of projects with a common cause.

A project may or may not be part of a program, but a program will always have projects.

Portfolio

Portfolio refers to a collection of projects or programs and other work (i.e. operations) that are grouped together to facilitate effective management of that work to meet strategic business objectives.

Portfolios are organized around business goals and Programs are organized around a shared benefit in managing them together.

Project Portfolio Management is the process of choosing and prioritizing projects within an organization. An excellent project idea can still be denied if there are not enough resources to complete the project work.

Projects and Strategic Planning

Projects are undertaken due to various strategic reasons and requirements:

1. Needs and Demands: Market demand, Strategic opportunity/business need, Customer request, Technological advance, Legal requirement, Social needs etc.

2. Feasibility Studies: One is to determine whether the project is a viable project. A second reason is to determine the probability of the project succeeding.

Project Management Office (PMO)

PMO may help provide resources, terminate projects, help gather lessons learned, be part of Change Control Board etc.

PMOs generally prevail in three kinds of roles:

Supportive: These play a consultative role by providing templates, best practices, training, access to historical information, lessons learned etc. The degree of control for this kind is low.

Controlling: These provide support and require compliance in terms of adoption of