Tag Archives: pmbok

PMP Exam Questions – Practice Session | 08

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PMP Exam PracticePMP Exam Question Session 8

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

You have been promoted from your role of project manager into a portfolio manager role. A portfolio is work grouped together to meet a certain strategic business objective and it involves:

A)  Projects and programs
B)  Projects and operations
C)  Programs and operations
D)  Projects, programs, and operations

Question 2

You are working as a project manager and created the cost estimate to bid on a government contract, where the scope was set by the government. Your manager advises you to reduce the cost to win the contract by whatever means, but your analysis shows that reducing the cost estimate will make the project unable to meet the specified scope. What should you do?

A)  Reduce the cost estimate and submit it
B)  Formally communicate to your manager about the implications of reducing the cost
C)  Ask your manager to estimate instead
D)  Submit your estimate without reducing the cost

Question 3

Work Performance Data generally contains raw facts and figures such as start dates for various activities, the number of bugs found in the software, spent cost, etc. What is a type of Work Performance Data?

A)  Forecasted estimates to complete
B)  Implementation status for change requests
C)  Percent of work physically completed
D)  Status of deliverables

Question 4

As you work on projects they can be influenced by many different things, and many different Enterprise Environmental Factors. What sort of influence are Marketplace conditions on your project?

A)  External
B)  Internal
C)  Regulatory
D)  Public

Question 5

You have recently been promoted from your role as Project Manager to a role that manages a related group of projects, and ensures efficient use of resources among those projects to ensure they are delivered. What is your role?

A)  Functional Manager
B)  Project Manager
C)  Portfolio Manager
D)  Program Manager

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07 – Project Management Office Types

7_Project Management Office Types

Project Management Office Types

The PMO or the project management office itself is quite important and there are a few different types of PMO that you will come across in your career and in the CAPM and PMP exams.

Supportive PMO

A supportive PMO is more of a consultative role. They will supply templates, best practices, and they don’t really have a high degree of control they just give people guidelines in what to do and say.

For example, “Here’s a good way to do it, but what you do is up to you.” They’re just supporting you. They’re not really directing or controlling anything.

Controlling PMO’s give more of a specific project management framework or methodology, such as the use of specific templates, forms and tools. They also ensure you use them, so they’re saying “Here are the things that you have to use, and this is the way you have to do your project.” It’s controlling the project, but through the use of templates forms and tools that the company uses. A controlling PMO asks for conformance to those governance frameworks. They might have project specific methodologies and specific ways of work.

Lastly the most controlling is the Directive PMO, which is what I personally found a little bit confusing. But directive project management offices take complete control of their projects by directly managing those projects. They have specific project managers, assigned by the PMO, and they report back to the PMO. They have a very very high degree of control in this environment.

So you have supportive, controlling (where we control through templates, governance frameworks and adhering to these) and then directive (where we’re actually taking the direction of the project through the project management office

The primary function of a PMO, no matter what type it is, is to support those project managers in a variety of ways. These ways could include managing shared resources across all projects and this is really important. You might have 10 projects but you only have enough resources for six projects, so you need to shift these around and the PMO can keep an eye on all of this. A PMO will usually have a portfolio view of things and help manage the use of those resources across those different projects.

They can help with coaching, mentoring, training and oversight, monitoring the compliance requirements and the standards and policies and procedures, helping people work with the policies and procedures within an organization, and coordinating communications across projects.

It really does come back down to that project, program and portfolio view where they have a great view of all the things that are going on. In the individual projects they can help with the communication, help with the management of it, and basically are there to support those project managers and help get the job done. And these are the Project Management Office Types.

– David McLachlan

PMP Exam Questions – Practice Session | 07

– See all the PMP Exam Questions – 

PMP Exam PracticePMP Exam Question Session 7

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

You are working on a project and your project sponsor asks you to contribute to a decision on whether to continue the project. The project had an initial budget of $500,000, is only half complete and has spent $1,000,000. Should the organization consider the $1,000,000 when determining whether to continue?

A)  Ask the Project Team to vote so the process is democratic
B)  No, the money spent is gone
C)  Yes, that is our money spent, we should consider it
D)  Refer to the functional manager as they own the business unit

Question 2

You are working as a project manager, asking for proposals from a Third Parties to complete the work. Your brother works for one of the vendors bidding for the contract. You are part of the executive team which will accept a vendor. What do you do?

A)  Discourage the vendor bid as it would be a conflict of interest
B)  Help the your brother’s vendor in the bid so you can work together
C)  Inform your company and the vendor of the relationship
D)  Don’t tell anyone. Why complicate things?

Question 3

You are working as a project manager in a foreign country. It is customary that gifts be made to the government to obtain the necessary project approvals, however the country where your company is based does not allow this practice. What should you do?

A)  Don’t bother with getting project approvals
B)  Ensure you offer gifts to obtain the project approvals
C)  Allocate additional hidden funds in the project to obtain the gifts
D)  Do not offer gifts to obtain project approvals

Question 4

You are working on a complex project requiring expertise from the functional manager. What is your role as a project manager in a weak matrix organization?

A)  Coordinator
B)  Administrator
C)  Supporter
D)  Functional manager

Question 5

Project Constraints are any restriction that defines a project’s limitations and is the limit of what the project is expected to accomplish. Which of the following is one of the types of competing Project Constraints?

A)  Size
B)  Sponsor
C)  Quality
D)  Location

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PMP Exam Questions – Practice Session | 06

– See all the PMP Exam Questions – 

PMP Exam PracticePMP Exam Question Session 6

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

Present Value is the present day value of an amount that is received at a future date. The Present Value (PV) of $12,000 to be received 4 years from now, with an interest rate of 5% would be:

A)  $9,872
B)  $1,787
C)  $11,268
D)  $1,541

Question 2

You are choosing a project for an organization where Project X has an internal rate of return (IRR) of 8%, Project Y has an IRR of 7%, Project Z has an IRR of 9%, Project W has an IRR of 11%. Which project would be the best choice?

A)  Project W
B)  Project X
C)  Project Y
D)  Project Z

Question 3

You are a project manager and meeting the stakeholders along with your team. What is the first meeting of stakeholders and team members, which provides an opportunity to clarify roles and ask questions called?

A)  Meeting
B)  Kick-Off
C)  Launch
D)  Kick-On

Question 4

You are working in the procurement department for your project. One vendor is trying to give you an expensive gift with the understanding it would help them get the contract. What would you do if there are no rules regarding gifts in your company?

A)  Ask the vendor for an additional gift for your boss also
B)  Don’t accept the gift
C)  Accept the gift and help them, it is a nice gesture
D)  Seek advice from your boss

Question 5

You have been working as a project manager for some time, and have found different types of resistance to the change brought about by your various projects. What is the main source of resistance for any change in an organization?

A)  Project
B)  Process
C)  Technology
D)  People

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PMP Exam Practice Questions – All

PMP Practice Exam

You can pass the PMP Exam.

Below you will find links to hundreds of PMP and CAPM practice exam questions for you to test yourself on and practice before you take the real thing. Each session has five questions, where we go through and solve them together.

If you study hard every day, and take practice exams every day, I absolutely believe that you will gain the skills you need to pass the PMP Exam. I believe in you, and I know you can do it!

06 – Project Management Data, Information and Reports

Project Management DataProject Management Data, Information and Reports

Within your project there are three types of data that you’ll come across.

The first is the most raw type of data, things such as raw observations during activities performed to carry out the work. For example, how many times did you do “X”? It’s also called work performance data and you’ll come across this in your CAPM and PMP exam. There’s data, there’s information, and then there’s reports. Each of these feed into each other so it’s quite important to take note of.

Work Performance Data

Data is the raw stuff, raw observations such as a count of “this many actions” or “this many dollars”. Project Management Data is often captured in your Project Management Information System, which is the overall process and software you use to capture and hold project information. Examples include:

1. Work physically completed
2. Quality and technical performance measures
3. Start and finish dates of schedule activities
4. Number of change requests submitted, or approved
5. Number of defects
6. Actual costs or money spent
7. Actual durations of activity

Work Performance Information

We analyze the work performance data to turn it into work performance information, analysing against other information it to give a status, such as estimates to complete on the project. This is where we turn it into things like variances, percentages or charts and information that people can use more readily than just the raw numbers. It’s things such as the cost performance index (which you’ll come across) or the schedule performance index which we’ll need to calculate to see how a project is going.

It also includes things such as:
1. Status of deliverables
2. Implementation status for change requests
3. Forecast estimates to complete

Work Performance Reports

This is where we put all of of that information into a nice pretty document, usually that someone can read quite easily and we turn that into our work performance report. Another way to look at this is we’re executing the processes and physically doing them that’s the work performance data. As we’re controlling those processes we need to analyze them and see how they’re going maybe they’re 80% complete for example that’s our work performance information. Then when we’re wanting to report on our overall project and control that within the business and maybe report up to our executives, managers, sponsors or the stakeholders who are involved then we’re wanting to do a work performance report so they can see how it’s tracking as well.

This really feeds into our project change control and our project communications that help us to show how everything is going.

– David McLachlan

 

PMP Exam Questions – Practice Session | 04

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PMP Practice ExamPMP Exam Question Session 4

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

Two team members in your project are having issues working together. You discuss this problem with the functional manager and jointly agree on a solution. What type of organizational structure are you working in?

A) Project oriented
B) Strong Matrix
C) Balanced Matrix
D) Weak Matrix

Question 2

A project management office (PMO) is a group or department that defines and maintains standards for project management within the organization. What is the primary objective of a PMO?

A) To support the customers receiving the product
B) To support the project managers
C) To support senior management
D) To support the industry

Question 3

You are working on an agile project as a project manager and performing sprint planning. You are planning the work in detail to be completed soon, and long term work is planned at a high level. What is this called?

A) Detailed Elaboration
B) Waterfall Planning
C) Agile Planning
D) Rolling Wave Planning

Question 4

At what stage of a project is a project manager typically assigned to a project?

A) The very beginning, during project initiation
B) The beginning to middle, during project planning
C) The middle, during project execution
D) The middle to end, during project monitoring

Question 5

You are in the process of identifying the methods your company uses to accept third party vendors and procure their services. What are you looking for?

A) Rating Selection Criteria
B) Source Selection Criteria
C) Scoring Selection Criteria
D) Proposal Selection Criteria

– See all the PMP Exam Questions – 

01 – Foundations of Project Management – PMP, CAPM, PMBOK Training

Foundations of Project ManagementWelcome to this series on project management, where we’re going through the project management body of knowledge, the PMBOK guide. This is from the project management institute and it’s basically a huge tome of knowledge that’s around 800 pages and it has everything in regards to leading, managing, monitoring and controlling, initiating projects – basically all the way from start to finish.

We’re going to go through all of the different modules in the PMBOK guide and go through them as a course so that you don’t have to necessarily read it all the way through yourself. There’s a lot to get through so let’s get into it.

First of all project management is not new, it’s been around for hundreds of years, thousands of years. As long as things have needed to change or needed to get done project management has been around. Building the Pyramids of Giza is a project, creating the Olympic Games and managing the games and making that happen, the Great Wall of China, the Taj Mahal, if you’re thinking about publishing a book that is a project – it has a start and an end date, and it has the scope of the project. What we’re trying to say is that projects are everywhere, from a small renovation to your house to even going and doing the shopping or the grocery shopping all of these things have a start and end date, scope that needs to be completed and requirements for the customer. And that’s the point, they’re trying to get to the outcomes of these projects with a result and leaders and managers applying project management principles which is where the project management body of knowledge comes into it.

What is a project?

A project is a temporary endeavor, so it has a start and an end date, it’s not business as usual and it’s not ongoing. It’s undertaken to create a unique product or an unique service or a unique result, something different. It’s a change.

They’re undertaken to fulfill objectives and they produce what they call deliverables. These deliverables fulfill those project objectives. The objective can be any result, purpose, strategic position in the company, a new product like an iPhone. Projects happen at all levels and they bring about a change, so anywhere there’s change there’s going to be a project to try and make that happen.

Projects Are Temporary

Projects are temporary, and which means they have a beginning and an end. The end of a project is reached for a few different reasons and they can be good, they can be happy reasons, and they can be bad reasons such as when projects end because you have run out of money for example, funding is exhausted or it’s no longer available, there’s no money. Or maybe for a happy reason you’ve met the project objectives. Or maybe it’s been realized that you cannot meet the project objectives, maybe circumstances have changed, maybe the project itself has changed, maybe the need for that project no longer exists and there are many other reasons.

There are regulatory reasons, legal reasons, human resources reasons, and that’s basically where projects come into it – they are temporary but the idea is that when you deliver something it will be long lasting. It will last past the end of the project once the project is finished.

Projects Enable Change and Value Creation

A project is aimed at change, it’s aimed at moving an organization from from one state (which is the current state) and move to a future state.

Projects also enable business value creation. We’re trying to deliver value to our customers, whether our customer is internal to an organization, whether it’s internal to our team, maybe it’s external to our organization where we’re delivering something to our paying customers. There are many different reasons we could be delivering business value. They could also be tangible reasons such as monetary assets, market share, stockholder equity. They could be intangible reasons, not monetary related where it’s just brand goodwill, brand recognition, strategic alignment to a certain certain category or to improve a reputation or many other things that are not monetary related.

Reasons to Initiate Projects

There are many reasons to initiate projects, to start them, to initially kick them off. It could be regulations, it could be to fix or improve a product, it could be to implement or change strategies within an organization or a company, or even within a team or even within yourself sometimes. A personal project to get fit or to get the PMP for example. You could satisfy stakeholder requests or needs if stakeholders or customers are asking for something then that could be a reason to kick off that project and get it started.

There are examples of things that lead to the need of a project – you could have new technology, as the pace of change is really increasing in the world. Which means that there’s always going to be a need for project managers and project roles in the world as well. We’ve got competitive forces, to deliver lower prices than a competitor, political changes, huge large-scale changes around a country, market demand like a customer request, economic changes, stakeholder demands like your customers or people within an organization. There could be a social need for what you’re doing, just general improvements for what you’re doing (for example with your Lean Six Sigma quality improvements). There are many many many different reasons that could be used for initiating a project.

– David McLachlan

PMP Exam Questions – Practice Session | 05

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PMP Practice Exam

PMP Exam Question Session 5

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

Costs can fluctuate during the different phases of your project. Generally, over the lifecycle of a project, the cost of changes to project scope will:

A) decrease
B) increase
C) remain about the same
D) depend on who assigns the change request

Question 2

You are a project manager brought on during the very early phase of the project. The project sponsor has asked you to create a report on whether this project can be completed in time, at what cost, and what benefit is expected. What is the Project Sponsor asking for?

A) A Project Charter
B) A commercial database
C) A Feasibility Study
D) A project management plan

Question 3

Future Value is the value of today’s sum of money, at a specified date in the future. The Future Value (FV) of $14,000 invested for 5 years with interest rate of 5% would be:

A) $16,225
B) $18,574
C) $17,867
D) $15,536

Question 4

Your project can be significantly impacted, depending on the organizational structure you are working in. Which organisational structure gives you the most control as a project manager?

A) Strong Matrix
B) Functional Matrix
C) Balanced Matrix
D) PMO

Question 5

You are working on a project where you have to plan for your current software product, and a software product in the same area to be released afterwards. What is your role in this situation?

A) Functional Manager
B) Program Manager
C) Production Manager
D) Project Manager

– See all the PMP Exam Questions – 

04 – Project Process Groups and Tailoring – PMP, CAPM and PMBOK Training

Projects are Unique

In the PMBOK guide, or the Project Management Body of Knowledge guide, this is one of the greatest things that you will come across and you’ll refer to this all the time when studying for your PMP.

PMBOK Process Groups

This shows us all of the knowledge areas down the left and this is in one point three of the PMBOK guide. Over to the right we’ve got the different process groups. What this means is that the knowledge areas we’ve got, things like Scope, Schedule, Cost, Quality such as testing or making sure that the quality is okay, communicating to our project stakeholders, getting the resources for our project, all of these things will be a part of your project management plan and they’ll be integrated into the project management plan through this overall knowledge area of project integration management.

Then as we’re going along from start to finish over on the right-hand side, we’re initiating a project initially with a Project Charter, identifying our stakeholders, and then we’re planning that project. We’re planning the scope, we’re planning the schedule, planning the cost, planning the quality, and the risks and all of that. Then we’re executing on that plan with our executing process group, monitoring and controlling it to make sure that it doesn’t go off the rails, and we’re keeping it on track. Finally we’re delivering that to the business or our customers and closing that project off, because it is a temporary thing.

There are many different things involved, there are multiple bits of information, there’s multiple ways to manage your project and there’s multiple ways to kick off a project. Multiple reasons to kick off a project, and it all that comes down to the fact that we can tailor a project in many different ways. We can use multiple different different life cycles like Waterfall or Agile. You might have co-located teams or teams all over the country and you’re doing them over Skype or video call or that sort of thing. You might be governed in a different way so you might have a supportive project management office, a controlling or directive project management office. You might have different sponsors who might want daily reports, maybe weekly reports, or maybe they don’t want any reports at all. All of these things just change how we end up managing the project and that makes every project quite unique.