PM Quick Tip – Video

Looking for an introduction into project management? Click HERE and watch this brief video.

PMP Exam Change – Content

The Project Management Institute has drafted a pdf document to outline the content changes being made to the PMP Certification Exam. Here is the link:

http://www.pmi.org/Certification/Project-Management-Professional-PMP/~/media/PDF/Certifications/PMP%20Examination%20Content%20Outline_2010.ashx

Changes to the PMP Exam

In a recent announcement from the Project Managmement Institute, the PMP certification exam will change on August 31, 2011. Nearly 30% of the content will be new or a departure from the current version of the exam.

Every several years, the PMP certification exam changes to address new demands of the project management profession and to improve the relevancy of the exam to the daily needs of project managers. Most significantly, PMI will eliminate the entire Code of Ethics section on the test and will distribute those questions into the IPECC categories as appropriate.

If you have started to prepare for the exam, Edwel recommends that you should schedule the exam prior to the transition. Most importantly, you should leave enough time for a potential re-take. During the last change, many test takers found Prometric test centers booked several weeks prior to the changeover.

Fortunately, the PMBOK Guide-4th Edition and the eligibility requirements for taking the exam will not change.

PMP Exam – Practice Questions

*If you are looking for an exceptionally realistic practice test to gauge your PMP Exam readiness, try our FREE 200 Question PMP Practice Exam.  Otherwise, use this ten question quiz to see where you stand.

| Question Set |

Q1: Two junior project managers who are working on the same project are having a heated discussion (an argument) on the difference between the project management life cycle and the project life cycle. The first project manager is saying there is essentially no difference between the two while the second project manager is saying that there is a significant difference between the two. While this debate is occurring, a senior vice president from your division interrupts the two and asks them the following question: “When the project is completed what is the expected lifetime of the deliverable?” Essentially, what is the vice president asking them?

a. He is asking about the status of the project life cycle

b. He is asking about the status of the project management life cycle

c. He is asking about the status of the product

d. He is trying to determine if they understand life cycle costing

Q2: What is the BEST definition for a project manager’s role on the project?

a. Take instruction and direction from functional managers

b. Assigned by the organization to achieve project objectives

c. Balance stakeholder interests on the project

d. Effectively manage the project team while also being an expert technical resource

Q3: You are working as a PMP® for a company that typically does not implement charters for projects. As a result, an unusually high number of projects in this organization fail on a yearly basis. You’ve just been placed on a high visibility project as the senior project manager and begin to work on elements of the charter with the project sponsor. Senior management doesn’t understand why you’re wasting your time on this activity. What is the best thing you can do in this situation?

a. Tell PMI about a fundamental breach in the PMI framework

b. Review the benefits of a well-defined project charter with senior management

c. Refuse to take on the project as you know this will most likely result in a project failure

d. Continue to work on the charter with the project sponsor. Demonstrate to senior management, on completion of the charter, how this benefited the project and have the data and facts to back it up

Q4: There are multiple projects your organization is considering for the upcoming fiscal year. Project A has an NPV of $85,000. Project B is a $1 million project and has the benefit cost ratio of 1.6. Project C has an internal rate of return (IRR) of 15%. Project D has a payback period of two years. Based on this information which is the best project to select for execution?

a. Project B

b. Project C

c. Project D

d. Project A

Q5: Your project team members need to know, in very specific terms, what work needs to be completed on the project. Which of the following is the least useful in describing what that work is?

a. WBS dictionary

b. The product scope

c. The project statement of work

d. Requirements traceability matrix

Q6: What is scope decomposition?

a. Breaking down the work into increments of less than 40 hours each

b. Breaking down the work to the work package level

c. Breaking down the work to the lowest level of detail possible

d. Breaking down the work by functional area

Q7: The project optimistic estimate is 10 weeks and the pessimistic estimate is 40 weeks. What is the standard deviation of the estimate?

a. 4

b. 5

c. 6.7

d. 7.5

Q8: What is the most correct definition of the critical path in a network diagram?

a. The shortest path through the network

b. The longest path through the network

c. The longest path through the network that contains zero or negative float

d. The shortest path through the network that cannot be compressed

Q9: Earned value = 650, planned value = 550, actual cost = 700. What is the schedule variance at this point in time?

a. + 100

b. -50

c. -100

d. -150

Q10: What is estimate at completion (EAC)?

a. The amount of money that was budgeted for the project

b. The original budget plus the contingency reserves

c. A budget forecast that takes project variances into account

d. The budget at completion (BAC) times the TCPI

Quiz Answers