The document outlines key concepts for passing the PMP exam, including that every project has a charter and project manager, who ensures the project meets organizational goals. The project manager plans projects using inputs from stakeholders and historical records, and manages the project according to the project management plan, which includes plans for each knowledge area. The project manager is responsible for measuring quality, continually improving processes, and managing risks and changes to the project.

1. Key Points to Remember For Passing the Exam
Abhinay Verma

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. 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. 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. 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. 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. 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.