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The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:

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PMBOK Section: Plan Communications

Process Group: Planning Process Group

Question Type: Calculation

Knowledge Area: Communications Management

Difficulty Level: Easy

Question: You are managing a construction project. There are seven civil works supervisors, one civil engineer and one project coordinator reporting to you. How many communications channels you have in your project?

A. 10

B. 36

C. 45

D. 55

Hint: You are also a project team member.

Reference: PMBOK4 - pg:253

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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.com

Explanation: Since you are managing the project you are one of the project team members. That makes the total project team count to 10. Using the communication lines formula n(n-1)/2, you can find out that there are 45 different communication lines. Correct Answer is C.

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:

On Friday March 25, 2011 we will be launching a new PMP Exam Simulator at http://www.pm-exam-simulator.com. Sign up to our launch newsletter and you will receive a 20% discount

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What is the work breakdown structure (WBS)?

A) It is a deliverable-oriented hierarchical decomposition of the work
to be executed by the project team, to accomplish the project
objectives and create the required deliverables.

B) It is a hierarchically organized depiction of the project organization
arranged so that the work packages can be related to the
performing organizational unit.

C) It is a hierarchically organized depiction of the resources by type
to be used on the project.

D) It is a hierarchical tabulation of the physical assemblies,
subassemblies and component needed to fabricate a
manufactured product.

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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.com

The Answer is A

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the bottom:

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PMBOK Section: Estimate Costs
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Cost Management
Difficulty Level: Hard

Question: You are managing an amusement park development project. You have received the following estimates for site excavation and area development activity that is critical to the success of your project. The most likely estimate is $100,000, the optimistic estimate is $90,000, and the pessimistic estimate is $120,000. What is the variance of this data?

A. 25000000
B. 5000
C. 30000
D. 105000

Hint: Calculate the standard deviation using the PERT method and then calculate variance from it.

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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.com

Explanation: Standard deviation can be calculated as (Pessimistic - Optimistic) / 6. Variance can be calculated by squaring the standard deviation. For the given data, the variance is $25,000,000 and the standard deviation is $5,000. Hence choice A is the correct answer. Reference: PMP Study Guide 5ed - Sybex - pg:170

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the bottom:

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In which phase of the project life cycle, are cost and staffing levels high?

A) Initial stage

B) Intermediate stage

C) Final stage

D) Pre-intermediate stage

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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.co
The Answer is B.

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:

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PMBOK Section: Estimate Costs
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Cost Management
Difficulty Level: Easy

Question: You are managing an amusement park development project. You have received the following estimates for site excavation and area development activity that is critical to the success of your project. The most likely estimate is $100,000, the optimistic estimate is $90,000, and the pessimistic estimate is $120,000. What is the expected activity cost?

A. $101666
B. $100000
C. $120000
D. $90000

Hint: Use the PERT formula.
Reference: PMBOK4 - pg:173
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All our free questions are updated to the latest PMBOK® Guide standard. Sign up here to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.com

Explanation: PMBOK recommends the use of PERT in estimating durations and costs. The PERT estimation formula is (Optimistic + 4xMost Likely + Pessimistic) / 6. For the given data, this results in 101,666.66. Hence choice A is the correct answer to the question.

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the bottom:

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PMBOK Section: Estimate Activity Durations
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Time Management
Difficulty Level: Moderate

Question: "You are managing a construction project. You are currently estimating the duration of a very critical activity. You have gathered the following information from the experts:
Best case scenario: Activity can take 3 days to complete.
Worst case scenario: Activity may take up to 12 days to complete.
Expected scenario: On average it takes up to 6 days to complete such activities.

What will be standard deviation of the activity?"
A. 1.25 days
B. 1.5 days
C. 1 day
D. Cannot be determined by the data given.

Hint : Use PERT to find the standard deviation.
Reference: PMP Study Guide 5ed - Sybex - pg:170
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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.

Explanation: Standard deviation formula for PERT (triangular distribution) is (Pessimistic-Optimistic)/6. The standard deviation of the given data, according to this formula, is 1.5 days. Hence choice B is the correct answer.

The To-Complete-Performance-Index (TCPI) allows a projection of the anticipated performance required to achieve a goal.

As a simple example: You are driving in your car to a friends house. You promised that you would arrive at 3pm. It is now 2:15pm and you have 30 miles to go. Your TCPI is the speed that you need to drive in order to arrive on time. (This is obviously not a perfect example for the TCPI, but it gets the point across: The TCPI defines the performance required in order to achieve a previously set goal.)

The PMBOK Guide Fourth Edition defines TCPI as the calculated projection of cost performance that must be achieved on the remaining work to meet a specified management goal, such as the budget at completion (BAC) or the estimate at completion (EAC). That is is why there are two formulas - one calculates the TCPI to achieve the BAC and one to achieve the EAC.

TCPI can also be compared with the Cost Performance Index (CPI). This can provide additional performance information. For example, if the TCPI is greater than the current CPI then future efficiency must improve if the project is to achieve the BAC or EAC.

If the comulative CPI falls below the baseline plan, all future work of the project will need to immediately be performed in the range of the TCPI (BAC) to stay within the authorized BAC. Whether this level of performance is achievable is a judgement call based on a number of considerations, including risks, schedule, and technical performance. Once management acknowledges that the BAC is no longer attainable, the project manager will prepare a new estimate at completion (EAC) for the work, and once approved, the project will work to the new EAC value.

Review the complete definition plus examples from the PMBOK Guide Fourth Edition starting at chapter 7.3.3

Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC
The Project Management PrepCast™ - http://www.project-management-prepcast.com

In project management, a schedule consists of a list of a project's tasks with intended start and finish dates. Tasks are the lowest element in a schedule; they are not further subdivided. Those items are estimated in terms of resource requirements, budget and duration, linked by dependencies and scheduled. Project Scheduling helps identify all of the tasks that are required to complete a project on time. It adds dependencies between tasks so that if one task slips, the tasks related to it slip.

[On a side note: As we mentioned in last week’s tip, in many organizations the terms "project management plan" and "project schedule" are often used interchangeably. If this is the case in your organization, then please make sure that you understand that for the PMP Exam, these are two distinctly different documents. Please refer back to last week's tip for the discussion of the project management plan.]

Before a project schedule can be created, a project manager will typically have a work breakdown structure (WBS), an effort estimate for each task, and a resource list with availability for each resource. If these are not yet available, it may be possible to create something that looks like a schedule, but it will essentially be a work of fiction. They can be created using various estimation methods. A good best practice is to include the people who will perform the actual work in the estimation process. The reason for this is that a schedule itself is an estimate: each date in the schedule is estimated, and if those dates do not have the buy-in of the people who are going to do the work, the schedule will be inaccurate.

In many industries, such as engineering and construction, the development and maintenance of the project schedule is the responsibility of a full time scheduler or team of schedulers, depending on the size of the project. And though the techniques of scheduling are well developed, they are inconsistently applied throughout industry. Standardization and promotion of scheduling best practices are being pursued by the Association for the Advancement of Cost Engineering (AACE), the Project Management Institute (PMI). In some large corporations, scheduling, as well as cost, estimating, and risk management are organized under the department of project controls.

The PMBOK Guide 4th Edtion says the following about the Project Schedule: As a minimum, the project schedule includes a planned start date and planned finish date for each activity. Develop Schedule is the process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule.

Read more about Project Schedule in the PMBOK Guide 4th Edtion from 6.5.3 to 6.5.4

Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC
The Project Management PrepCast™ - http://www.project-management-prepcast.com

All,

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com – The answer is at the very bottom:

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PMBOK Section: Estimate Activity Durations
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Time Management
Difficulty Level: Moderate

Question: "You are managing a construction project. You are currently estimating the duration of a very critical activity. You have gathered the following information from the experts:

Best case scenario: Activity can take 3 days to complete.
Worst case scenario: Activity may take up to 12 days to complete.
Expected scenario: On average it takes up to 6 days to complete such activities.

What duration you will put into your schedule for this activity if you want to put some weight on the expected scenario?"

A. 7 days
B. 7.5 days
C. 6 days
D. 6.5 days

Hint : Use PERT to calculate.
Reference: PMBOK4 – pg:150
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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at: http://www.free-pm-exam-questions.com here to receive the questions via email. We are a PMI Registered Education Provider.

Explanation:Since you want to put some weight on the expected scenario, you will use the PERT formula. Your estimate will then be 6.5 days. Hence choice D is the correct answer.

All,

The PDU Podcast presents: High Performance PMOs is our featured video on YouTube. This is another Free Sample Webinar from the PDU Podcast.

You can check it out at: http://www.youtube.com/watch?v=xBhwQ5SJAao&feature=mfu_in_order&list=UL

Learn and Enjoy!

A project management plan is a formal, approved document that defines how the project is executed, monitored and controlled. It may be summary or detailed and may be composed of one or more subsidiary management plans and other planning documents. The objective of a project management plan is to define the approach to be used by the Project team to deliver the intended project management scope of the project. The project manager creates the project management plan following input from the project team and key stakeholders. The plan should be agreed and approved by at least the project team and its key stakeholders.

[On a side note: In many organizations the term "project management plan" and "project schedule" are often used interchangeably. If this is the case in your organization, then please make sure that you understand that for the PMP Exam, these are two distinctly different documents. We will discuss the project schedule in next week's tip.]

The PMBOK Guide 4th Edition also defines Develop Project Management Plan as the process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans. The project management plan defines how the project is executed, monitored and controlled, and closed. The project management plan content will vary depending upon the application area and complexity of the project. The project management plan is developed through a series of integrated processes until project closure. This process results in a project management plan that is progressively elaborated by updates and controlled and approved through the Perform Integrated Change Control process.

The project management plan typically covers topics used in the project execution system and includes the following main aspects:

* Scope Management
* Schedule Management
* Financial Management
* Quality Management
* Resource Management
* Communications management
* Project Change Management
* Risk Management
* Procurement Management

It is good practice and mostly required by large consulting and professional project management firms, to have a formally agreed and version controlled project management plan approved in the early stages of the project, and applied throughout the project. Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment.

Get a full load of the definition and examples of the Develop Project Management Plan process in the Project Management Body of Knowledge Guide (PMBOK Guide) Fourth Edition, 4.2 to 4.2.3

Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC
The Project Management PrepCast™ - http://www.project-management-prepcast.com

The following PMP ® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom.

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Which of the following strategies are suggested to deal with threats or risks that have
negative impact on projects?

A) Avoid, transfer or enhance.
B) Exploit, share or enhance
C) Avoid, transfer or mitigate
D) Avoid, exploit or mitigate
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All our free questions are updated to the latest PMBOK® Guide standard. Stop by at:http://www.free-pm-exam-questions.com to receive the questions via email. We are a PMI Registered Education Provider.
The Answer is C.

A Responsibility Assignment Matrix (RAM), also known as RACI matrix or Linear Responsibility Chart (LRC), describes the participation by various roles in completing tasks or deliverables for a project or business process. It is especially useful in clarifying roles and responsibilities in cross-functional/departmental projects and processes. RACI is an acronym derived from the four key responsibilities most typically used:

* Responsible: Those who do the work to achieve the task. There is typically one role with a participation type of Responsible, although others can be delegated to assist in the work required.

* Accountable (also Approver or final Approving authority): The one ultimately accountable for the correct and thorough completion of the deliverable or task, and the one to whom Responsible is accountable. In other words, an Accountable must sign off (Approve) on work that Responsible provides. There must be only one Accountable specified for each task or deliverable

* Consulted: Those whose opinions are sought; and with whom there is two-way communication.

* Informed: Those who are kept up-to-date on progress, often only on completion of the task or deliverable; and with whom there is just one-way communication.

Very often the role that is Accountable for a task or deliverable may also be Responsible for completing it (indicated on the matrix by the task or deliverable having a role Accountable for it, but no role Responsible for its completion, i.e. it is implied). Outside of this exception, it is generally recommended that each role in the project or process for each task receive, at most, just one of the participation types. Where more than one participation type is shown, this generally implies that participation has not yet been fully resolved, which can impede the value of this technique in clarifying the participation of each role on each task. There is a distinction between a role and individually identified people: a role is a descriptor of an associated set of tasks; may be performed by many people; and one person can perform many roles. For example, an organization may have 10 people who can perform the role of project manager, although traditionally each project only has one project manager at any one time; and a person who is able to perform the role of project manager may also be able to perform the role of business analyst and tester.

The PMBOK Guide 4th Edition (starting in section 9.1) defines RACI as a responsibility assignment matrix (RAM) which is used to illustrate the connections between work packagers or activities and project team members. On larger projects, RAMs can be developed at various levels. For example, a high-level RAM can define what a project team group of unit is responsible for within each component of the WBS, lower level RAMs are used within the group to designate roles, responsibilities and levels of authority for specific activities. The matrix format shows all activities associated with one person and all people associated with one activity. This also ensures that there is only one person accountable for any one task to avoid confusion. The PMBOK confirms that one example of a RAM is the RACI chart, showing the work to be done in the left column as activities. The assigned resources can be shown as individual or groups. The RACI is just one tye of RAM; the project manager can select other options such as "lead" and "resource" designation or others as appropriate for the project. The RACI is particularly important when the team consists of internal and external resources to ensure clear divisions of roles and expectations.

A Responsibility Assignment Matrix (RAM), also known as RACI matrix or Linear Responsibility Chart (LRC), describes the participation by various roles in completing tasks or deliverables for a project or business process. It is especially useful in clarifying roles and responsibilities in cross-functional/departmental projects and processes. RACI is an acronym derived from the four key responsibilities most typically used:

* Responsible: Those who do the work to achieve the task. There is typically one role with a participation type of Responsible, although others can be delegated to assist in the work required.

* Accountable (also Approver or final Approving authority): The one ultimately accountable for the correct and thorough completion of the deliverable or task, and the one to whom Responsible is accountable. In other words, an Accountable must sign off (Approve) on work that Responsible provides. There must be only one Accountable specified for each task or deliverable

* Consulted: Those whose opinions are sought; and with whom there is two-way communication.

* Informed: Those who are kept up-to-date on progress, often only on completion of the task or deliverable; and with whom there is just one-way communication.

Very often the role that is Accountable for a task or deliverable may also be Responsible for completing it (indicated on the matrix by the task or deliverable having a role Accountable for it, but no role Responsible for its completion, i.e. it is implied). Outside of this exception, it is generally recommended that each role in the project or process for each task receive, at most, just one of the participation types. Where more than one participation type is shown, this generally implies that participation has not yet been fully resolved, which can impede the value of this technique in clarifying the participation of each role on each task. There is a distinction between a role and individually identified people: a role is a descriptor of an associated set of tasks; may be performed by many people; and one person can perform many roles. For example, an organization may have 10 people who can perform the role of project manager, although traditionally each project only has one project manager at any one time; and a person who is able to perform the role of project manager may also be able to perform the role of business analyst and tester.

The PMBOK Guide 4th Edition (starting in section 9.1) defines RACI as a responsibility assignment matrix (RAM) which is used to illustrate the connections between work packagers or activities and project team members. On larger projects, RAMs can be developed at various levels. For example, a high-level RAM can define what a project team group of unit is responsible for within each component of the WBS, lower level RAMs are used within the group to designate roles, responsibilities and levels of authority for specific activities. The matrix format shows all activities associated with one person and all people associated with one activity. This also ensures that there is only one person accountable for any one task to avoid confusion. The PMBOK confirms that one example of a RAM is the RACI chart, showing the work to be done in the left column as activities. The assigned resources can be shown as individual or groups. The RACI is just one type of RAM; the project manager can select other options such as "lead" and "resource" designation or others as appropriate for the project. The RACI is particularly important when the team consists of internal and external resources to ensure clear divisions of roles and expectations.

Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC
The Project Management PrepCast™ - http://www.project-management-prepcast.com

All,

The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:

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PMBOK Section: Sequence Activities
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Time Management
Difficulty Level: Moderate

Question: "Activity / Duration / Predecessor

A / 2 / Start
B / 4 / A,E
C / 6 / A
D / 3 / B,C
E / 7 / Start
F / 2 / E

What is the critical path?"

A. Start-A-B-D-End
B. Start-E-F-End
C. Start-A-C-D-End
D. Start-E-B-D-End

Hint : Use PDM to calculate.
Reference: PMBOK4 - pg:138

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All our free questions are updated to the latest PMBOK® Guide standard. Sign up here to receive the questions via email. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ – http://www.project-management-prepcast.com
The Project Management Podcast™ – http://www.project-management-podcast.com

The correct answer is D.
Explanation: The critical path of the data given is Start-E-B-D-End. Hence choice D is correct, while rest of the choices is incorrect.

Hi All,

This video entitled Effective Meetings for Project Managers with Steve Kaye as the presenter, discusses the third question that your CEO is going to ask you after you have explained to him how does the meeting you are holding going to make money for the business.

Now, his question will be "How are you going to do this?"

Here is the link to the full video: http://www.youtube.com/watch?v=spo8XBdgT-I

Take pleasure and we hope you learn!

Until next time,
Cornelius Fichtner, PMP
The Project Management PrepCast™ - http://www.project-management-prepcast.com
The Project Management Podcast™ - http://www.project-management-podcast.com