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PMP: Key Concepts

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Key concepts to remember before attempting the PMP certification exam.

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PMP: Key Concepts

  1. 1. Key Points to Remember For Passing the Exam Abhinay Verma
  2. 2. Key Concepts Every project has a project charter that authorizes the project and the role of project manager. Project Managers have all the authority and power described in the PMBOK Guide and perform all the activities described in the PMBOK on their real-world projects. Every organization has a formal project selection process and they choose which projects to do based on the organization's strategic goals. It is the duty of the project manager to ensure that his/her project meets the strategic objectives of the organization throughout its lifecycle. The project manager is assigned during the initiation phase and not mid-course.
  3. 3. Key Concepts All organizations have project management policies and guidelines which the project manager can adapt for use on his/her project. All organizations have historical records (this includes lessons learnt) of previous projects that project manager can use to estimate work packages, manage risks and in overall project planning. The project manager always puts the interests of the project first, not his own personal interests. PMP Exam assumes that the project manager is working on a large project with more than 200 people from multiple countries and cultures. The project manager plans the project with inputs from all stakeholders and team members. It is NEVER an individual effort.
  4. 4. Key Concepts Every knowledge area (scope, time, HR, quality, cost, risk, communication, procurement) has a plan. Every project has a management plan for each of the knowledge areas. Project Manager must make every effort to identify all stakeholders before the project work actually begins. A work breakdown structure (WBS) is used on all projects.WBS creation can also be an effective team bonding activity. Stakeholders must be engaged throughout the project.Their interests must be taken into account, level of influence must be understood. Stakeholders may help in identifying and managing risks as well.
  5. 5. Key Concepts It is the project manager’s responsibility to determine what metrics to use to measure quality of deliverables. The project manager must have a plan for continually improving processes. The project manager must put in place a Rewards & Recognition system to reward team members. Rewards need not be only monetary in nature. PMI does not see gold plating favorably. Gold Plating refers to providing extra functionality on the project/product that has not been requested by any stakeholder. All roles and responsibility for every team member must be clearly documented and assigned to the team at the right time.
  6. 6. Key Concepts Identifying, monitoring and managing risks is one of main tasks of project manager. Stakeholders and team members are also assigned risk identification and management duties. Project cost and schedule cannot be finalized without first completing risk management. Unrealistic schedules are project manager’s fault. If project timelines, objectives and other constraints cannot be met, project manager must meet with management to resolve such issues. The project manager measures project against the performance management baseline which itself is governed/defined by the project management plan. In case of any delays, the project manager must adjust future work instead of asking for more time.
  7. 7. Key Concepts Project Manager must spend more time focusing on preventing problems than resolving them. Most problems should already have a risk response plan created to deal with them. Any change in scope must be evaluated for its impact on time, cost, quality and risk. All changes to the project management plan must flow through the change management process and integrated change control. The project manager is actively involved in procurement process, understands contract language and makes sure all terms and contractual obligations are met. Project is considered complete only after final acceptance from the customer. Project manager archives all project records before closing the project.

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