PMP

STUDY GUIDE
Preface Comprehensive Preparation:
Industry Importance: Study schedules, planning tips, and FAQs offer a
Project management is essential across various complete preparatory framework, covering all your
sectors. Achieving the PMP certification signifies a questions and worries.
high level of expertise in leading projects towards Perfecting Practice:
their successful completion. Two full-length practice tests with detailed answer
Professional Recognition: explanations help you assess your readiness and
Holding a PMP certification is more than a mere title. improve your approach.
It demonstrates a commitment to personal growth Additional Resources:
and excellence in the field of project management. Take advantage of a carefully selected list of
Commitment to Excellence: recommended online resources and academic
This certification is evidence of dedication to the materials to enhance your preparation.
profession, showcasing an individual's readiness to Motivation & Encouragement:
meet and exceed industry standards. Conclude your preparation journey with inspiring final
Adherence to Standards: words, preparing you for success in the exam.
The study guide for the PMP certification is designed
according to the latest guidelines from the Project Thorough Content Examination
Management Institute (PMI), ensuring that
candidates are well-prepared for the 2023–2024 In the "PMP Exam Prep 2023–2024," every section is
PMP Exam. carefully crafted to thoroughly explore the topics crucial
Preparation and Support: for passing the PMP exam. Here's a breakdown of what
Unlike ordinary study materials, this guide acts as a you'll find:
comprehensive companion for aspirants on their
Foundational Elements
journey to becoming PMP certified, equipped with the
most current information and methodologies in Overview:
project management. Introduction to the principles, methodologies, and
terminologies that underpin project management.
Global Standards:
Examination of international standards and best
practices in project management.

Project Operating Environment

Internal and External Influences:

Analysis of organizational structures, cultures, and
external factors impacting project management.
Compliance Requirements:
Insights into legal, regulatory, and environmental
considerations.

Inside, you'll discover

Detailed Exploration:
This guide delves into every aspect of project
management, covering all sections of the PMBOK. It
provides a thorough review to help you fully
understand each topic.
Strategic Approach:
Discover exam-taking strategies designed specifically
for the PMP exam. These strategies will give you the
confidence and efficiency needed to tackle the exam
effectively.
Role of the Project Manager Project Resource Management
Leadership: Human and Material Resources:
Emphasis on the leadership qualities, interpersonal Strategies for planning, acquiring, and managing
skills, and ethical considerations required for project resources, including team building and
effective project management. conflict resolution.
Responsibilities:
Project Communications Management
Detailed exploration of the multifaceted roles and
responsibilities of a project manager. Communication Planning:
Techniques for ensuring effective communication
among stakeholders, including tools and technologies.

Project Risk Management

Risk Identification and Mitigation:
Detailed exploration of risk analysis, response
planning, and risk control methods.

Project Procurement Management

Contracts and Vendors:
Comprehensive review of procurement planning,
contract selection, and vendor management.
Project Stakeholder Management
Engagement Strategies:
Methods for identifying, engaging, and managing
Project Integration Management stakeholders, ensuring alignment with project goals
Planning and Execution: Practice Sets and Strategies
Techniques for integrating various project
components, from initiation to closing, including Full-Length Practice Tests:
planning, executing, monitoring, and controlling. Two full-length practice tests with detailed
explanations to gauge your readiness.
Project Scope Management Proven Strategies:
Techniques to approach the exam effectively,
Defining and Controlling: including time management and question analysis.
Strategies for defining project boundaries, managing
requirements, and controlling changes to project
scope.

Project Schedule Management

Timeline Management:
In-depth guidance on developing, managing, and
controlling project schedules, including critical path
methodology.

Project Cost Management

Budgeting and Control:
Comprehensive coverage of budget planning, cost
estimation, and financial control techniques. Additional Resources and Final Words

Project Quality Management Online Resources and Academic Materials:

Curated list of supplementary resources.
Standards and Compliance: Motivation:
Methods for ensuring quality standards, conducting Final words of encouragement to boost confidence
audits, and continual improvement. and morale.
INTEGRATION
MANAGEMENT
The purpose of Integration Management is:
To unify all the other processes in the project
together
You can think of Integration Management as the
“conductor” in the “orchestra”. It is the Knowledge
Area that syncs all the other processes together to
create the final deliverable.
Communications is the most important component of
integration.

Develop Project Management

Plan (Planning Process Group)

The project management plan is a formal written

document that lies out how the project will the executed,
monitored, and controlled.
The PM plan unifies all subsidiary management plans
together, including scope, time, cost, quality, HR,
communications, risk, procurement, and stakeholders
management plan.
The project manager’s main task is to execute the project
management plan successfully.
Develop Project Charter
The PM plan is signed off by the key sponsors before
(Initiating Process Group) execution begins.
Changes are unavoidable. If a change needs to be made to
The project charter: the PM plan, the change needs to be approved by the
Includes the business case explaining why the project Change Control Board (CCB).
is necessary Baselines will be included in the PM plan, including scope,
Formally authorizes the project manager to start the time and cost baselines. The final deliverable will be
project and apply organizational resources to create measured against the initial baselines.
the project deliverable The scope baseline includes 3 components: scope
Define the high-level scope statement, Work Breakdown Structure (WBS), and WBS
dictionary.
Includes high-level budget
Baselines can change throughout the project as more
Includes key stakeholders
information is known. Senior management and sponsor
Includes preliminary risk register
need to approve the new baseline.
Signed off by the project sponsor The project manager has access to contingency reserves.
The project charter is NOT a contract S/he does not have access to management reserves. The
Project Management Office (PMO) can provide expert sponsor needs to approve the use of management
judgement on how to structure the project charter reserves.
Facilitation techniques may be used to draft the charter. Configuration management systems documents all
These include brainstorming, conflict resolution, problem versions of the project management plan and other
solving, meetings, etc. project documents.
 Perform Integrated Change
Control (M & C Process Group)

During execution, the project team may discover new

information that makes it impossible for them to
implement the PM plan. As a result, they issue a change
request to change the PM plan. The change request is
reviewed by the CCB. If the request is approved, the
project team will implement the change. If not, it is
discarded.
All changes should be tracked on the change log
Direct and Manage Project Work
Changes arise for a number of reasons – e.g. missed
(Executing Process Group) requirements, poor understanding of scope, change in
project environment, unforeseen risks, etc.
Creates the project deliverable
Acquire/train/hire necessary people and other resources
Close Project or Phase
to complete the project work
Solicit, procure, and manage third-party vendors
(Closing Process Group)
Collect project data (used in monitoring and controlling This process formally ends the project or project phase.
for reporting) Ensure all procurement contracts are closed before the
Implement approved change requests from CCB project is formally closed.
There are three types of change requests: corrective Give notice to the project team that the project is ending.
action, preventative action, and defect repair. Obtain formal sign off from project sponsors.
PM should implement ALL of the work and ONLY the work Archive project documents for future projects.
outlined in the PM plan. Document lessons learned.
PM should avoid gold plating (adding extras for clients)
and scope creep.
Most of the time on the project is spent in execution.

Manage Project Knowledge

Manage Project Knowledge is the process of
using existing knowledge and creating new
knowledge to achieve the project’s objectives
and contribute to organizational learning.

Monitor and Control Project Work

(Monitoring & Controlling Process Group) Common Terminologies
Project Charter
Analyzes raw project data to create project information.
Project information will give the PM and stakeholder a A project charter establishes a partnership between the
sense of the project’s health. It compares the actual performing organization and the requesting organization
results in the project to the project baselines. It will tell (or customer, in the case of external projects). The
the project team things such as whether the project is approved project charter formally initiates the project.
ahead or behind schedule, over or under budget, etc.
Variance analysis is one technique used. However, Business Case
variance analysis is not a forecasting method.
Ensures validated change requests are implemented. Documentation to justify the project investment. Cost
The output of this process is used in many other M & C benefits analysis Know the following two categories of
processes. project selection methods and their subsets for the exam:
Project Selection
1. Benefit measurement method (comparative approach)
a. Murder Board – a panel of people who try to shoot
down a new project idea
b. Peer Review
c. Scoring Models
d. Economic models – the following are economic models
for selecting a project:
i. Present value
ii. Net present value
iii. IRR
iv. Payback period
v. Benefit-cost ratio Enterprise Environmental Factors
2. Constrained optimization methods (mathematical Consider culture and structure, resources availability,
approach) project management systems available, stakeholder risk
a. Linear programming tolerances, and marketplace conditions.
b. Integer programming
c. Dynamic programming Organizational Process Assets
d. Multi-objective programming
Lessons learned from previous projects, organization
processes and procedures and corporate knowledge base
containing historical data, issue and defect management
database, financial information, etc.

Develop Project Management Plan

Takes results from other planning outputs to create a

consistent document to guide both execution and control
of project. Documents planning assumptions, decisions
regarding alternatives chosen, facilitates
communications, define key management reviews.
Baseline for progress measurement and control.

Management Plan
Management plans are the strategy for managing the
project and the processes in each knowledge area. To
reiterate to make sure we are all on the same page, a
management plan covers how you will:
Depreciation Define
Plan
Straight line depreciation – the same amount of Manage
depreciation is taken each yearAccelerated depreciation Control
– product depreciates faster at the beginning. There are Project Management Plan
two types: double declining balance and sum of years
digits. A project management plan is an integration function – it
integrates all the knowledge area management plans into
Project SOW cohesive whole. This plan also includes the baselines for
the project. A project management plan is a series of
Description of the products or services being supplied plans and baselines, rather than just a schedule. The
along with the business need, product scope description project management plan includes:
and strategic plan. External projects: SOW received from The project management process that will be used on
the customer. the project
Internal projects: The management plans for scope, schedule, cost,
SOW provided by the sponsor or initiator of the quality, HR, communications, risk, and procurements
project. Scope, schedule, and cost baselines
 Requirements management plan Process improvement plan
Change management plan
Configuration management plan As part of planning, the project manager identifies
Process improvement plan existing processes to use on the project and may create
some of their own. Planning in efforts to improve these
processes is required part of project management,
because good processes help the team complete work
faster, cheaper, and with higher quality
Change Control Board
A panel of stakeholders who are responsible for
reviewing and deciding which changes should be made to a
project.

Direct and manage project execution

This is the integration part of the executing process
Performance measurement baseline group. In Direct and Manage Project Execution, the project
manager integrates all the executing processes into one
The project management plan contains scope, schedule, coordinated effort to accomplish the project
and cost baselines, against which the project manager management plan and product the deliverables. In
will need to report project performance. These baselines
addition, it involves requesting changes and completing
are created during planning. Together these baselines are
the work accompanying approved change requests.
called the Performance Measurement Baseline
Scope baseline
Things to Remember
Schedule baseline
Cost baseline 1. project charter for the exam:
Requirements management plan a. The project charter formally recognizes/authorizes
the existence of the project, or established the
A requirements management plan describes how project. This means that a project does not exist
requirements will be identified, managed, and controlled without a project charter
b. It gives the project manager authority to spend
Change management plan
money and commit corporate resources. On the exam,
The change management plan describes how changes will this is the most commonly described benefit or use of
be managed and controlled and may include: the project charter. In most project situations, the
Change control procedures project team does not report to the project manager
The approval levels for authorizing changes in the corporate structure
The creation of a change control board to approve
c. The project charter provides the high-level
changes
A plan outlining how changes will be managed and requirements for the project
controlled d. It links the project to the ongoing work of the
Who should attend meetings regarding changes organization
The organizational tools to use to track and control 2. There are also the following management plans:
changes
a. Change management plan
There is a change management plan for the project as a
whole. There are also change management plans for each b. Configuration management plan
knowledge area, which are described in the individual c. Requirements management plan
management plans. d. Process management plan
3. You need to understand the following: deviations from
Configuration management plan baseline are often due to incomplete risk identification
and risk management. Therefore, if the exam asks what to
The purpose of the configuration management plan is to
make sure everyone knows what version of the scope, do when a project deviates significantly from established
schedule, and other components of the project baselines, the correct answer is likely the one about
management plan are the latest and greatest. The reviewing the project’s risk management process.
configuration management plan defines how you will 4. For the exam, a project or project phase cannot
manage changes to the deliverables and the resulting effectively start without formal approval of the project
documentation. management plan
 SCOPE
MANAGEMENT
Plan Scope Management
Scope management
Scope management is the process of defining what work
is required and then making sure all of that work and only
that work is done.
Product scope
Product scope is another way to say “requirements that
relate to the product of the project.”
Project scope
The work required to achieve the
deliverables. The work can include planning,
coordination, and management activities. Focus groups
Scope management plan
This technique helps to get a specific set of stakeholders’
The scope management plan could be thought of as containing or subject matter experts’ opinions and requirements for
three parts where scope will be: the product or an aspect of the project
Planned
Executed Facilitated workshops
Controlled
Facilitated workshops bring together stakeholders with
different perspectives to talk about the product and
ultimately, arrive at consensus regarding the
requirements
Group creativity techniques

Many different types: brainstorming,

nominal group techniques, Delphi,
idea/mind mapping and affinity diagram

Group decision making techniques

Unanimity; majority; plurality and dictatorship

Questionnaires or Surveys

Fast method to accumulate information from many

respondents
Collect Requirements

The Collect Requirements process involves gathering

more specific input on those requirements from all
stakeholders. This process is critical of project success,
as missed requirements could mean significant changes
and conflict throughout the remainder of the project and
even project failure.
Interviews
The team or project manager interviews project
stakeholders to identify their requirements for a specific
element of the product or project work, or for the overall Observations
project. These interviews can take place between
individuals or in group settings. Interviews can also be Also called “job shadowing” – assists in understanding
conducted via email, phone, calls, letter, or other the process to uncover hidden requirements
methods.
Requirements documentation Product analysis

This documentation is an output of the Collect Better understanding of product techniques: product
Requirements process and helps make sure the breakdown, systems analysis, systems engineering, value
requirements are clear and unambiguous. The engineering, value analysis and functional analysis
documentation can contain various types of information.
Project scope statement
Requirements management plan
Confirms common understanding of project scope among
In addition to describing the methods to use to identify stakeholders. Includes: scope description, product
requirements, the plan should answer the following questions: acceptance criteria, deliverables exclusions, constraints
Once I have all the requirements, what will I do to and assumptions
analyze, prioritize, manage, and track changes to them?
What should I include in the requirements traceability Constraints and Assumptions
matrix? Constraints and factors that limit the teams’ options.
Assumptions are things that are assumed to be true but
Requirements Traceability Matrix
that may not be true.
The requirements traceability matrix helps track
requirements over the life of the project to ensure they
Create WBS
are accomplished. WBS Definition
The matrix usually takes the form of a table with
information like numbers, source of each requirements, Improves accuracy of cost, time, and resource estimates.
and status. Defines a baseline for performance measurement and
control. Facilitates clear responsibility assignments.
Define Scope
Project charter Decomposition
Formally authorizes the project within the organization. Sub-divides major deliverables into smaller, more manageable
Developed during integration – develop project charter components until all can be defined with adequate costs and
duration estimates. 5 steps:
Identify deliverables
Structure and organize
Decompose upper level to lower level as required
Develop codes to the WBS component
Verify the correctness of the decomposition
WBS
Deliverable oriented grouping of project elements which
defines the entire scope. Benefits:
Builds team
Provides framework to identify projects separately from
organizations, funding sources and accounting systems,
etc.
Requirements documentation Clarifies responsibilities
Focuses attention on project objectives
Output from Scope – Collect requirements. How the Forces detailed planning and documentation by team
requirements will meet the business needs. Includes: Contributes to customer communication
quality requirements, acceptance criteria, impacts,
training requirements, etc.
Organizational process assets
Policies, procedures, and guidelines that will impact how
scope will be managed
Expert judgement
Select experts to assist in developing portions of the
detailed scope statement
WBS Dictionary Things to Remember
1. You must plan, in advance, how you will determine the
The WBS dictionary provides a description of the work to scope, as well as how you will manage and control scope.
be done for each WBS work package and helps make sure This is part of your scope management plan
the resulting work better matches what is needed a. Scope must be defined, clear, and formally approved
before work starts
Scope Baseline b. Requirements are gathered from all the
stakeholders, not just the persons who assigned you
For scope, the baseline is the agreed upon project scope
the project
statement, the WBS, and the WBS dictionary
c. Requirements gathering can take a substantial
amount of time, especially on large projects that may
require you to obtain requirements from hundreds of
people
d. WBS is used on all projects. A side benefit of this tool
is that you may find additional scope and be able to
clarify identified scope when you create the WBS
e. While the project is being completed, you must check
to make sure you are doing all the work but only the
work included in the project management plan.
f. Gold plating a project is not allowed
g. Any change to scope must be evaluated for its effect
on time, cost, risk, quality, resources, and customer
satisfaction
h. No changes to scope are allowed without an approved
change request
i. Scope changes should not be approved if they relate
to work that does not fit within the project charter
j. As a project manager you need to continuously
determine what is and is not included in the project
2. Assume that you are the project manager for the BUYER
for all questions on the exam that involve procurement
3. Project manager must be assertive in how they manage
Validate and Control Scope the project. You must be able to say no and not allow
Validate Scope activities that will take away for the focus and objectives
of the project. Unnecessary scope adds time.
The validate scope process actually involves frequent 4. When you take the exam, assume that the project
planned in meetings with the customer or sponsor to gain manager has expended the effort necessary to determine
formal acceptance of deliverables during monitoring and all the requirements and that those requirements are
control. ranked by order importance.
5. There can be many references to be WBS on the exam. In
Control Scope
short, remember the following. A WBS:
a. Is a graphical picture of the hierarchy of the project
The control scope process involves measuring project and
b. Identifies all the deliverables to be completed – if it is
product scope performance and managing scope baseline not in the WBS, it is not part of the project
changes c. Is the foundation upon which the project is built
d. Is VERY important
e. Should exist for every project
f. Forces you to think through all aspects of the project
g. Can be reused for other projects
h. Does NOT show dependencies
6. The Control Scope process involves measuring project and
product scope performance and managing scope baseline
changes. As you take the exam, assume that you are
controlling scope in this way. You must assume proper
project management is being done on the project unless
the exam says otherwise.
 TIME
MANAGEMENT
 Project Time Management includes the processes required Define Activities
to complete the project in a timely manner.
Project Time Management processes and their associated The Define Activities process involves taking the work
tools and techniques are documented in the schedule packages (which are outputs from Scope Management)
management plan. The schedule model is used as inputs to and decomposing them into activities.
many processes in other Knowledge Areas. It is easier to estimate, execute, and monitor work
The majority of the project manager’s job is focussed on efforts of these individual activities rather than work
controlling the schedule to ensure timely completion of
packages.
the project.
The amount of effort it takes to complete an activity is
Gold plating, or padding, means adding extras on your
project without formal change control. This practice is called Level of Effort, or LOE.
unacceptable. Decomposition is the technique of dividing and subdividing
the project scope and project deliverables into smaller
more manageable parts.
The project manager (you) decomposes the scope into
work packages, which are the lowest level of the WBS.
The team member that you assigned the work package to
is responsible for decomposing the work package.
Rolling wave planning (also called Progressive
Elaboration) refers to planning the current phase of the
project in great details and the subsequent phases in
Plan Schedule Management high-level details. When you reach the next phase, you will
then plan that phase in more details. You are planning the
Plan schedule management is the process of establishing project in “waves.”
the policies and procedures for how to do all of the Rolling wave planning is beneficial when there are too
remaining 6 processes in time management. many unknowns on your project and you can’t accurately
The key benefit of this process is that it provides a plan subsequent phases of the project in detail.
framework on how the schedule will be developed,
The Activity List is a comprehensive list that includes all
executed, and controlled.
schedule activities required to the project along with
The three components that form the Scope Baseline are: 1)
activity identifiers and descriptions.
Scope Statement, 2) Work Breakdown Structure (WBS), and
3) WBS dictionary. Activity attributes extend the description of the activity
The main output of Plan Schedule Management is the by identifying the multiple components associated with
Schedule Management Plan, which is a component of the each activity.
overall Project management Plan. The Schedule Examples of activity attributes include:
Management Plan will help make the schedule estimating Identifier
process faster by providing guidelines on how estimates Codes
should be stated. Description
The Schedule Management Plan establishes the following:
Relationships
Project schedule development
Leads and lags
Level of accuracy
Constraints
Units of measure (hours , days , weeks……etc)
Organizational procedures links (provides frame Assumptions
work) Milestones are important points/events in a project. They
Project schedule model maintenance can be mandatory or optional. They have zero duration.
Control thresholds: are typically expressed as
percentage deviations from the parameters
established in the baseline plan
Rules of performance measurement: earned value
management (EVM)
Schedule performance measurements: schedule
variance(SV) , schedule performance index (SPI)
Reporting formats Process description
Sequence activities

Sequence Activities is the process of identifying and

documenting logical relationships among project
activities. The output is the network diagram, which
shows you the order to complete the project activities.
Precedence Diagram Method (PDM) techniques shows you
how to sequence the project activities.
In this method, nodes or boxes are used to represent External dependencies:
activities, and arrows show activity dependencies. This dependency is based on the needs or desires of a
Finish to start is the most common relationship. Start to party outside the project
finish is rarely used. Internal activities:
Relationship between project activities and are
generally inside the project team’s control
(determined during the process of sequence
activities)

Leads and Lags:

4 types of activity relationships:

Start to start: task A must start before task B can start

Start to finish: task A must art before task B can finish
Finish to start: task A must finish before task B can start
Finish to finish: task A must complete before task B can
finish

Lead is the amount of time whereby a successor activity

can be advanced with respect to a predecessor activity
(allow an acceleration of the successor activity)
Lag is the amount of time whereby a successor activity
will be delayed with respect to a predecessor activity
(waiting time-directs a delay in the successor activity)
Project schedule network diagrams is a graphical
representation of the logical relationship between activities.

Estimate Activity Durations

Types of Dependencies: The Estimate Activity Durations process is the process of

estimating the number of work periods needed to
Mandatory dependencies ( Hard logic , hard dependencies): complete individual activities with estimated resources.
the dependency is inherent in the nature of the work The key benefit of this process is that it tells you how
being done or required by the contract much time is required to complete each activity. This
Discretionary dependencies (Preferred logic , preferential information is key to developing the project schedule.
logic): In order to estimate well, estimators (those doing the
This dependency is determined by the project team. work, when possible) will need to know activity resource
requirements, resource calendars, organizational process
Discretionary dependencies can be changed if needed,
alerts (historical data and lessons learned about activity
while the other types of dependencies cannot easily
durations, past project calendars, and the defined
be changed. Discretionary dependencies are
scheduling methodology), and enterprise environmental
important when analyzing how to shorten the project factors (company culture and existing systems that the
to decrease the project direction (fast track the project have to deal with or can make sure of, such as
project) estimating software and productivity metrics).
 Reserve Analysis –
The intersection between schedule management and
risk management. You need to look at the schedule-
related risks and determine how much time/money
you want to set aside to deal with these risks if they
arise.
Analogous estimating –
use historical data and expert judgement; subjective
Parametric estimating –
use algorithms and calculations
Three point estimating –
creating three estimations for your activity duration
The Resource Calendar identifies the time and date every to calculate the most likely scenario. There are two
specific resource is available. formulas:
The Risk Register, which lists all known risks and risk Most likely [tm]-optimistic[to]-pessimistic[tp]
severities on the project, may impact resource selection Triangular distribution TE = (TO+TM+TP)/3
and estimation. Beta distribution(from the traditional PERT
Bottom-up estimating is a technique that estimates the technique) te=(TO+4TM+TP)/6
project duration or cost by aggregating the estimates of
the lower-level components of the WBS.
Activity resource requirements identify types and
quantities of resources for each activity in a work
package.
Resource breakdown structure is a hierarchical
representation of resources by category and type.
One point estimating:
When estimating time using a one-point estimate, the
estimator submits one estimate per activity
The time estimate can be made based on expert
judgement, by looking at historical information, or
through mathematical models/calculations Reserve Analysis – project managers reserve part of
their budget to deal with risks that may occur.
Contingency Reserve – reserves for known risks in
the risk register. The PM can access this reserve at
any time. Part of the project budget.
Management Reserve – reserves for the
unknown/unforeseeable risks. The PM needs
additional approval to access this fund. Not part of
the project budget.
Free float the amount of time an activity can delay
without delaying the early start of its successor.
Total float the amount of time an activity can delay
without delaying the project completion date.

Develop Schedule

The Develop Schedule process is the process of analyzing

activity sequence, durations, and resource constraints to
create the project schedule. The schedule baseline will be
monitored and controlled throughout the project. The
project manager’s goal is to stick as closely to the
schedule as possible.
 The key benefit of this process is that it generates a EF Calculation:
model with the planned dates for completing the project Early Start (ES) + Duration (DU) = Early Finish (EF)
activities so that team members know when they have to Backward Pass Calculation Late start:
complete their portion and have a visual diagram showing Latest point in time that an activity may begin
without delaying that activities successor
them the big picture.
If the activity is on the critical path, the project
Schedule Network Analysis end date will be negatively affected, if the task is
delayed
Once an initial schedule is complete, schedule network Float or Slack:
analysis can begin to create the final schedule and take Latest point in time an activity may be delayed fom its
the form of one or all of the following techniques: earliest start date without delaying the project finish
Critical path method date
Schedule compression Float > 0 – time is available
What-if scenario analysis Float = 0 – this is the critical path; no spare time
Resource leveling Float < 0 – time is behind; project date is in jeopardy
Critical chain method Late finish:
Latest point in time an activity may be completed
Critical path method without delaying that activities successor
If the activity is on the critical path, the project end
date will be negatively affected, if the task is delayed
Backward pass:
The LF of the last activity in a network diagram is the
same as the EF. All other activities are the earliest LS
(plus leads or minus lags) of any successor activities is
the LF of the predecessor. Basically you are reversing
the forward logic completely.
LS Calculation: late finish (LF) – duration (DU) = LS

Critical chain method

Modifies schedule to allow for limited resources

Forward pass calculationEarly start:

Earliest point in time an activity can start based on
the network logic and schedule constraints
The ES of the first activity in a network diagram is
“zero”
The ES for all other activities is the latest EF (minus
“leads” or plus “lags”) of any predecessor activities
Note: a successor cannot start until all their
predecessors are completed/finished
Resource leveling
Duration:
Allocate scarce resources to critical path first
Number of work periods, excluding holidays or other
Often results in project duration longer than the
non-working periods, required to complete the preliminary schedule
activity. Expressed as workdays or work weeks.
Early finish: What-if scenario analysis
Earliest time the activity can finish
Involves calculating multiple durations
Forward pass:
with different sets of assumptions.
Starting at the begging (left) of the network develop
Most common is the Monte Carlo
early start and early finish dates for each task, analysis (i.e. power of computer)
progressing to the end (right-most box) of the Outcome of simulations can be used to
network assess feasibility and manage risk
Schedule compression

Purpose:
Purpose to look for ways to shorten the schedule
without affecting the scope
Crashing:
Usually increases costs due to additional resources
Only do activities on the critical path with the least
cost first
Compresses time on given activities
Fast tracking:
Looks at doing activities in parallel or overlap that
would normally be done in sequence (i.e. start to write
the code on a software project before the final
design is complete)
Usually results in rework and increases risk Work Performance Information takes the raw Work
Performance Data and adds interpretations to it. E.g.
Work Performance Data = actual time for project
activities. Work Performance Data = SV and SPI
calculations that tells you whether you are ahead, on, or
behind schedule.
Work Performance Information is reported to relevant
stakeholders. Control accounts may be created for
reporting.
Schedule forecasts are estimates or predictions of
conditions and events in the project’s future based on
Monte Carlo analysis
information and knowledge available at the time of the
This method of estimating uses computer software to forecast.
simulate the outcome of a project, making use of the Variance Analysis – Compares target dates with actuals
three-point estimates (optimistic, pessimistic, and most to detect deviations and take corrective action as
likely) for each activity and the network diagram required. Includes float changes. Focus on critical tasks.
Key to corrective actions.
Control Schedule Project Management Software – Tracks planned vs.
actual dates and forecasts effects of schedule changes
The Control Schedule process is the process of monitoring Schedule baseline is the approved version of the project
the status of project activities and ensuring that they are schedule.
completed on time. The estimated duration and real
duration is reported to relevant stakeholders. Any
schedule changes must be approved by the Change
Control Board beforehand.
The key benefit of this process is that it helps the PM
recognize deviations and take corrective or preventative
actions to bring the project back in line with the project
schedule. This process also helps reduce schedule-related
risks.
Performance Reviews measure, compare and analyze
schedule performance, using various techniques such:
Trend analysis , critical path method , critical chain
method , earned value management
 Estimates must be reviewed when they are received to
Things to Remember see if they are reasonable and to check for periodically
Estimates must be kept realistic through the life of the
project by re-estimating and reviewing them periodically
Estimates can be decreased by reducing or eliminating the
risks
The project manager has a professional responsibility to
provide estimates that are as accurate as possible and to
maintain the integrity to those estimates throughout the
life of the project

2) For the exam, you MUST memorize these formulas and know
that they can be used for both time and cost estimates.
Expected activity duration = (P + 4M + O)/6
Activity standard deviation (P – O)/6
Activity variance = [(P-O)/6]^2
Legend:
P = pessimistic
M = most likely
1) The following are important points to understand about
O = optimistic
estimating for the exam:
Estimating should be based on a WBS to improve accuracy
3) For the exam, you need to be able to do simple calculations
Estimating should be done by the person doing the work
using the formulas, have general understanding that
whenever possible to improve accuracy
estimates of time (or cost) should be in range, and know the
Historical information from past projects (part OPA) is a
concept of three-point time (or cost) estimates per activity
key to improving estimates
A schedule baseline (and cost and scope baselines) should
4) You could also see a PERT total project duration used in
be kept and not changed except for approved project
questions without requiring calculation. The exam addresses
changes
standard deviation and variances in many different ways
A schedule baseline (and cost and scope baselines) should
(schedule, risk, etc.). Make sure you have a general
be kept and not changed except for approved project
understanding of these concepts, which you will, based on
changes
these sessions.
The project schedule should be managed in the schedule
baseline for the project
5) For the exam, remember that you need to identify all the
Changes are approved in integrated change control
possible options and, if given a choice between crashing or
Estimates are more accurate if smaller size work
fast tracking options, select the choice or combination of
components are estimated
choices with the least negative impact on the project.
Changes should be requested when schedule problems
(and cost, scope, quality, and resource problems) occur
6) The exam will ask many such questions requiring you to
A project manager should never just accept constraints
know that you analyze first, and then let management, the
from management, but should instead analyze the needs
sponsor, the customer, or other parties know the impact of
of the project, come up with his or her own estimates, and
their requests. A project manager does NOT just say yes!
reconcile any differences to produce realistic objectives
A project manager may periodically recalculate the
estimate to complete ETC for the project in order to make
sure there is adequate time (and funds, etc.) available for
the project
Plans should be revised during completion of the work as
necessary with approved changes
There is a process for creating the most accurate
estimate possible
Padding is not acceptable project management practice
The project manager must meet any agreed upon
estimates
 COST
MANAGEMENT
 Project Cost Management involves planning, budgeting, Estimate Costs
and managing costs. Cost management does not happen
in isolation – the project manager needs input from the
project team and key stakeholders. Cost management
should occur early in project planning in order to establish
a framework for all cost management processes and
ensure that the project does not go over budget.
Although estimating cost and determining budgets can be
one process on small projects, PMI separates them into
two processes because the exam assumes the PM is
managing a large project. Many financial management
techniques, such as ROI, payback, and discounted cash
flow, are used during this process.

Plan Cost Management

Estimate Costs is the process of establishing an
approximate monetary value to each project activity.
The key benefit of this process is that it determines the
amount of money needed to complete project work
Cost estimate is a prediction of how much an activity will
cost upon completion given the information we know now.
When estimating cost, you need to know whether you are
only estimating the direct project costs or whether your
estimates need to include indirect costs as well.
To estimate costs, you need to look at the project
schedule to see which activities need which resources.
Plan Cost Management process establishes the Types of Estimation:
framework/policies/procedures for how to estimate and Analogous Estimating – use similar historical project
manage costs activity costs to determine the current project
The key benefit of this process is that it provides guidance activity costs. Relies of expert judgment. Use this
and direction on how costs are managed from project technique when you have limited information
initiation to closure available. Also called top-down estimating.
There are many ways to fund a project, including: 1) Self- Parametric Estimating – use mathematical
funding, 2) Funding with equity, or 3) Funding with debt calculations or models to determine activity costs
The Cost Management Plan is a component of the Project (generally more accurate). E.g. it costs $100 to install
Management Plan that details how cost management 20m of wires, thus, it will cost $1000 to install
processes will be carried out. This plan will describe how 200m.
project costs are planned, estimated, and controlled. Bottom-up Estimating – detailed estimating is done
The cost management plan also establishes the following: for each activity (if available) or work package (if
Units of measure activities are not defined), and the estimates are
Level of precision then rolled up into control accounts and finally into
Level of accuracy an over project estimate
Control thresholds Contingency Reserves – the part of the budget set aside
Reporting formats to deal with negative risks that may occur
Organizational procedures links Vendor Bid Analysis – analyzing the bids from qualified
Rules of performance measurement vendors. If cost estimates vary significantly, it could
Life Cycle Costing – Looking at the cost of the whole mean that the scope is not well defined. If third-party
product life cycle, not just the cost on the project vendors are used on the project, the PM needs to make
Value Analysis – Finding less costly ways to do the same sure their cost estimates are included in the project
work. Value analysis involves identifying required project budget.
functions, assigning values to these functions, and Activity cost estimate – an estimation of what the
providing these functions at the lowest cost without activity will cost upon completion based on information
sacrificing performance. known to date.
 Supporting details for activity cost estimates: Determine Budget
Basis of estimation
Assumptions Determine Budget is the process of aggregating individual
Constraints activity or work package costs into the project budget.
Range of possible estimates The Key Benefit of this process is that it determines the
Confidence level of final estimate cost baseline against which project performance is
measured.
Cost aggregation – the process of rolling up individual
Types of costs:
activity costs into work packages and work packages into
control accounts and control accounts into the project
budget
Funding limit reconciliation – Comparing plan project
expenditures against funding limits to determine if any
variances exist.
Cost baseline – approved time-phased project budget. The
cost baseline tells you how much you should have spent at
Variable costs – these costs change with the amount of
any given point in time. Any changes to the cost baseline
production or the amount of work must be approved by the change control board.
Examples: cost of material, supplies, and wages Control accounts – During reporting, the key stakeholders
Fixed costs – these costs do not change as production may want more details than the overall project cost, but
changes less details than the work packages costs. Control
Examples: rent, equipment, etc. accounts aggregates related work packages together.
Direct costs – these costs are directly attributable to the The PM will report at the control accounts level.
work on the project
Examples are team travel, team wages, recognition,
and costs of material used on the project
Indirect costs – indirect costs are overhead items or
costs incurred for the benefit of more than one project
Examples include taxes, fringe benefits, and janitorial
servicesCost of quality – The total cost of all efforts
related to quality

Accuracy of Estimates

Rough Order of Magnitude (ROM) Estimates

This type of estimate is usually made during the Reserve analysis:
initiating process Management reserves
A typical range from ROM estimate is a +/- 50% from “Unknown-unknown risks”
actual, but this range can vary depending on how Not part of the project baseline
much is known about the project when creating the Sponsor must approve the use of management
reserves and then the project must be “re-
estimates
baselined”
Budget estimate
Contingency reserves
This type of estimate is usually made “known-unknown risks”
during the planning phase and is in the Used at the discretion of the project manager
range of -10% to +25% from actual Part of the project budget
The summation of control accounts gives you your cost
Definitive estimate
baseline.
Later during the project, the estimate will become
Cost baseline + contingency reserves = project budget
more refined. Some project managers use the range Funding occurs in incremental stages that are not
of +/- 10% from actual, while others use -5% to +10% continuous or evenly distributed.
from actual Funding requirements are derived from the cost baseline
 Variance analysis – The procedure of analyzing the
difference between the actual cost and the budgeted cost
(from the cost baseline).
Return on investment (ROI) – a technique to estimate the
potential profitability of an investment
Progress Reporting
50/50 rule
An activity is considered 50% complete when it
begins and gets credit for the last 50% only
when it is completed
20/80 rule
An activity is considered 20% complete
when it begins and get credit for the
last 80% only when it is completed
Control Costs
1/100 rule
An activity does not get credit for partial
completion. It only gets credit for full completion

Earned Value Management – This methodology is used to

measure project performance against the scope,
schedule, and cost baselines.

Acronym Term Interpretations

As of today, what is the

Planned
PV estimate value of the work
value
planned to be done?

As of today, what is the

Earned
EV estimated value of the work
The Control Costs process is the process of monitoring value
actually accomplished?
actual project costs against the cost baseline and
managing changes to the cost baseline. As of today, what is the actual
Actual cost
The key benefit of this process is that it allows the PM to AC cost incurred for the work
(total cost)
detect cost variances early and take corrective actions to accomplished?
bring the project back on budget.
Any changes to the budget must be approved through the Budget at How much did we BUDGET for
BAC
Perform Integrated Change Control process. completion the TOTAL project effort?
Project Cost Control components:
Ensuring timely implementation of change requests What do we currently expect
Estimate at
Issuing cost-related change requests when EAC the TOTAL project to cost (a
completion
necessary forecast)?
Monitoring cost performance and understanding the
root causes of variances From this point on, how much
Estimate to
Monitoring activity costs against project budget ETC more do we expect it to cost to
complete
Reporting cost performances to key stakeholders finish
Ensuring the project do not exceed funding limits
Preventing unapproved changes from using up the As of today, how much over or
Variance at
VAC under budget do we expect to
budget completion
be at the end of the project?
Bringing cost overruns to within acceptable limits
 Name Formula Interpretation Name Formula Interpretation
EAC = AC + BAC - EV
as the number of team Estimate at The variance is
AC = actual cost
members increase, the Completion caused by a
n * (n-1) / 2 BAC = budget at
Number of number of (EAC) if BAC onetime event and
where n is the completion
communication communication remains the is not likely to
number of team EV = earned value
s channels channels increase, and same happen again
members
hence, the risk on the
project increases If the CPI would
Estimate at EAC = BAC / CPI
remain the same
Schedule SPI=EV / PV < 1 behind schedule Completion BAC = budget at
till end of project,
Performance EV = earned value = 1 on schedule (EAC) if CPI completion
i.e. the original
Index (SPI) PV = planned value > 1 ahead of schedule remains the CPI = cost
estimation is not
same performance index
Cost CPI = EV / AC < 1 over budget accurate
Performance EV = earned value = 1 on budget
EAC = AC + (BAC - EV) /
Index (CPI) AC = actual cost > 1 Under budget
(CPI*SPI)
Use when the
SV = EV - PV < 0 Behind schedule Estimate at AC = actual cost
Schedule question gives all
EV = earned value = 0 On schedule Completion BAC = budget at
Variance (SV) the values (AC,
PV = planned value > 0 Ahead of schedule (EAC) if completion
BAC, EV, CPI and
substandard EV = earn value
CV = EV - AC < 0 Over budget SPI), otherwise,
Cost Variance performance CPI = cost
EV = earned value = 0 On budget this formula is not
(CV) continues performance index
AC = actual cost > 0 Within budget likely to be used
SPI = schedule
TCPI = (BAC - EV) / performance index
(BAC - AC)
To-Complete < 1 Under budget
BAC = budge at Things to Remember
Performance = 1 On budget
completion
Index (TCPI) > 1 Over budget Notice the EV comes first in every formula. Remembering
EV = earned value
AC = actual cost this one fact alone should help you get about half the
earned value question right
ETC = EAC - AC If it is variance, the formula is EV minus something
Estimate to EAC = estimate at If it is an index, it is EV divided by something
Completion completion If the formula relates to costs, use AC
AC = actual cost If the formula relates to schedule, use PV
VAC = BAC - EAC For variance interpretation:
BAC = budget at < 0 Under budget Negative is bad and positive is good
Variance at E.g. A -200 CV means that you are over budget
completion = 0 On budget
Completion For indices interpretation:
EAC = estimate at > 0 Over budget
completion Greater than 1 is good
Less than 1 is bad
(O + 4M + P)/6
O = optimistic
estimate
PERT
M = most likely
Estimation
estimate
P = pessimistic
estimate

EAC = AC + New If the original estimate

Estimate at
ETC is based on wrong data
Completion
AC = actual cost / assumptions or
(EAC) if original
ETC = estimate to circumstances have
is flawed
completed changed
 QUALITY
MANAGEMENT
Change management plan Cost of conformance Cost of nonconformance
Project quality management involves all the activities
involved to determine quality policies, objectives, and Internal failure costs
Prevention costs (build a
procedures in an organization. Project Quality (failures found by the
quality product)
Management uses policies and procedures to implement project)
the organization’s quality management system, and it
supports continuous process improvement activities. Quality training rework
Quality and Grade are two different concepts:
Quality = The degree to which a set of inherent Document processes &
scrap
characteristics fulfill requirements equipment
Grade = A category assigned to deliverables having
the same functional use but different technical Appraisal cost (assesses the External failure costs (failure
characteristics quality) found by the customer)
While having low quality is always a problem, having a low
grade may not be a problem. testing liabilities
You can have acceptable software that is low-grade
(limited features) that is high quality (no defects). On the Destructive testing loss Warranty work
flip side, you can also have unacceptable software that is
high-grade (numerous features) that is low quality (many inspections Lost business
defects).
Money spent during and after
You should always try to prevent defects from happening Money spent during the
the project because of
on your projects rather than dealing with consequences. project to avoid failures
failures
This concept is called prevention over inspection.
You, the project manager, is ultimately responsible for
Cost of conformance should be < cost of nonconformance
quality. However, everyone on the project team should
inspect their own work. Plan Quality Management
There are four parts to the Deming Cycle: Plan, Do, Check,
and Act (PDCA). The PDCA cycle makes up the basis for
continuous improvement or kaizen. Continuous
improvement is the concept of continuously looking for
small things that can make the project’s processes or
product better.
When you invest in higher quality standards and improve
quality on your project, you will decrease costs up to a
certain point. Marginal analysis is the point where the
benefits of improving quality equal the costs saved.
Cost of Quality (COQ) refers to the total cost of quality,
including the cost of conformance and cost of non-
conformance. The cost of conformance is the cost
incurred to prevent quality issues from happening. The
cost of non-conformance is the cost incurred in order to Plan Quality Management is the process of identifying
deal with quality issues that occurs on your project. The quality requirements for the project. The key benefit of
table below illustrates the difference between Cost of this process is that it provides guidance and direction on
Conformance and Cost of Non-conformance. how to manage and validate quality throughout the
project. The main output of this process is a quality
management plan.
Cost-benefit analysis refers to comparing the cost of
preventing quality issues from occurring to the cost of
dealing with quality issues when they do occur. For each
quality activity, you should compare the cost of
conformance to the expected benefit in order to
determine the appropriate quality level for your project.
The seven basic quality tools are: If the points cluster in a band running from lower left to
upper right, there is a positive correlation (if x increases, y
1. Cause-and-effect diagrams (also known as fishbone increases)
diagrams or Ishikawa diagrams) – In a cause-and-effect If the points cluster in a band from upper left to lower
diagram, the program is placed at the “head” of the right, there is a negative correlation (if x increases, y
fishbone. The causes of the problem are placed in the decreases)
branches. Sub-issues are placed within the branches. The Imagine drawing a straight line or curve through the data
resulting diagram looks like a fishbone, hence, the name so that it “fits” as well as possible. The more the points
“fishbone diagrams”. The benefit of using a fishbone cluster closely around the imaginary line of best fit, the
diagram is that it allows you to visually trace the root stronger the relationship that exists between the two
cause of an issue. variables.
2. Flowcharts (or process maps) – Flowcharts display the If it is hard to see where you would draw a line, and if the
sequence of steps for a process. They show the activities, points show no significant clustering, there is probably no
correlation
decision points, loops, and paths. Flowcharts can be used
to understand and estimate the cost of quality (COQ) in a
particular process through mapping expected monetary Here’s a fun phrase to help you remember the 7 basic quality
gains of pursing different paths. Flow charts can also be tools:
helpful in Plan Quality as they allow the team to see the Carol Flabbergasts, “Here’s the Powerful, Checkered
process they must follow to ensure quality on the project. Saber-toothed Cat!”
3. Check sheets (or tally sheets) – Check sheets are used to
keep track of data. They can be helpful for inspectors
during quality inspection to ensure that they do not
forget to inspect a particular section of the project.
4. Pareto Diagrams – A Pareto chart or diagram is a type of
histogram, but it arranges the results from most
frequent to least frequent to help identify which root
causes are resulting in the most problems.
5. Histograms – Histograms are a special type of bar chart
that shows you the distribution of data from a central
tendency. It represents data in no particular order or
reference to time. A histogram displays data in the form
of bars and columns. This tool shows what problems are
worth dealing with. A typical histogram arranges data in Key terms related to this process:
no particular order. Bench-marking –
6. Control Charts – Control charts are used to determine This technique involves looking at other
whether or not a process is stable. A control chart takes projects to get ideas for improvement on
measurement over time. The chart has a mean (average), the current project and to provide a basis
which is represented with a solid line, and the upper and to use in measuring quality performance.
lower control limits, which is represented with two Specification limits –
dashed lines. If the value from the process is in between Specification limits represent the customer’s
the upper and lower control limit, the process is in experience or contractual requirements for
control. If it is not, the process is out of control. If 7
performance and quality on the project. Specification
consecutive values are either above or below the mean,
limits are characteristics of the measured process
the process is deemed out of control (this is also known
and not inherent.
as Rule of Seven).
Design of Experiments (DOE) –
7. Scatter Diagrams (or correlation diagrams) – Scatter
DOE is a statistical method that allows you to
diagrams track the relationship of the independent
systematically change all of the important factors in
variable on the x-axis to the dependent variable on the y-
a process and see which combination has a lower
axis. Scatter diagrams help you determine if there’s any
correlation between two variables. This diagram can be impact on the project. This technique is faster and
used in quality estimation and forecasts. Things to look more accurate than changing the variables one at a
for: time.
 Process Improvement Plan –
This plan details the steps for analyzing the project’s
processes to identify activities to remove or enhance.
Quality Metrics –
Quality metrics describes project attributes of
interest and how Control Quality will measure them.
The Quality Management Plan should also include
what the project’s quality metrics should be when
everything goes well.

Statistical Sampling –
Statistical sampling involves choosing a portion of
the population to inspect for quality control because
inspecting the entire population may take too long or
cost too much. The sample size and frequency are
determined in the Quality Management Plan and the
actual sampling is done during the Control Quality
process.
Attribute sampling –
results confirm yes/no – GO or NO GO decision
Variable sampling – Quality Checklists –
results rated on continuous scale that measures Quality checklists are used to verify that the required
the degree of conformity – cooking time set of steps has been performed. This checklist
measured in minutes should be part of the acceptance criteria in the scope
Special causes – baseline.
when something goes wrong and you can point Manage Quality
directly to it and say that is the problem
Random causes – Manage Quality is the process of comparing quality
part of the process itself – sometimes things go requirements to actual quality measurements from the
wrong project. The goal is to ensure the project is meeting
Additional Quality Planning Tools – quality requirements and to look for ways to improve
These tools include brainstorming, force field processes.
analysis, nominal group techniques, etc. Note:
Quality Management Plan – Perform Quality Assurance deals with quality control
This plan is the output of the Plan Quality process. in the project’s PROCESSES. Control Quality deals
This document describes how the organization will with quality control in the project’s PRODUCTS.
ensure quality is implemented and what constitutes Quality control measurements –
as high quality for the project. These are tools that help you assess whether the
procedures set out in the Plan Quality process are
being followed.
 Quality management and control tools are tools that can
Quality audits include:
help you ensure quality in your project’s processes. These
Identify all good and best practices being
7 tools are:
implemented
1. Affinity diagrams –
Identify all non-conformity, gaps , and shortcomings
Used to generate ideas. Similar to mind-mapping.
Process analysis –
Related ideas are linked together. Helps you see
Follows the steps from the process improvement
patterns.
plan. Undertakes root cause analysis of problem
2. Process decision program charts (PDPC) –
identification
PDPC can be used in conjunction with tree diagrams
to decompose a goal into steps required to achieve it. Control Quality
3. Interrelationship digraphs –
Provides a process for solving complex problems with
many items and intertwined relationships.
4. Tree diagrams (systematic diagrams) –
Used for decomposition of data for analysis or
visualization. Tree diagrams shows hierarchy. It is
useful for visualizing parent-to-child relationships.
E.g. WBS, RBS, and OBS.
5. Prioritization matrices –
These matrices help you identify the key issues and
prioritized implementation actions
6. Activity network diagrams (arrow diagrams) –
These diagrams show you the path or “network”
between project activities. The activity network
diagram allows you to calculate the critical path.
7. Matrix diagram The Control Quality process is the process of monitoring
– Matrix diagrams are used to perform data analysis. and recording results from quality activities and
They show the similarities and differences between assessing their performances. Perform quality control
different factors. helps ensure a certain level of quality in a product or
service. It looks for products or services that do not meet
the standards of quality.
The key benefit of this process is that it allows you to
identify the causes to poor quality and taking action to
prevent or correct them. Additionally, the Control Quality
process allows you to validate the project deliverable
against the project requirements.
Here are some key terms you will need to know for this
process:
Prevention –
keeping errors out of the process
Inspection –
keeping errors out of the hands of the customers
Attribute sampling –
Storyboard Illustrating the Seven Quality The result is binary; it is either ‘Yes’ or ‘No’. Attribute
Management and Control Tools sampling is used to test if the product conforms or
does not conform to requirements.
Quality audits – Variable sampling –
Identify lessons learned to improve The result is a continuous scale to measure to what
performance on all project scheduled degree the product conforms to requirements.
or random – completed by anyone Tolerance –
internally or externally. specified range of acceptable results
Confirm implementation of approved change Work performance information –
analysis of raw performance data that is useful for
requests, including corrective actions, defect repairs
decision making.
and preventive actions.
 Quality management and control tools are tools that can
help you ensure quality in your project’s processes. These
Control Quality
7 tools are:
1. Affinity diagrams –
Used to generate ideas. Similar to mind-mapping.
Related ideas are linked together. Helps you see
patterns.
2. Process decision program charts (PDPC) –
PDPC can be used in conjunction with tree diagrams
to decompose a goal into steps required to achieve it.
3. Interrelationship digraphs –
Provides a process for solving complex problems with
many items and intertwined relationships.
4. Tree diagrams (systematic diagrams) – The Control Quality process is the process of monitoring
Used for decomposition of data for analysis or and recording results from quality activities and
visualization. Tree diagrams shows hierarchy. It is assessing their performances. Perform quality control
useful for visualizing parent-to-child relationships. helps ensure a certain level of quality in a product or
E.g. WBS, RBS, and OBS. service. It looks for products or services that do not meet
5. Prioritization matrices – the standards of quality.
These matrices help you identify the key issues and The key benefit of this process is that it allows you to
prioritized implementation actions identify the causes to poor quality and taking action to
6. Activity network diagrams (arrow diagrams) – prevent or correct them. Additionally, the Control Quality
These diagrams show you the path or “network” process allows you to validate the project deliverable
between project activities. The activity network against the project requirements.
diagram allows you to calculate the critical path. Here are some key terms you will need to know for this
7. Matrix diagram process:
– Matrix diagrams are used to perform data analysis. Prevention –
They show the similarities and differences between keeping errors out of the process
different factors. Inspection –
keeping errors out of the hands of the customers
Attribute sampling –
The result is binary; it is either ‘Yes’ or ‘No’. Attribute
sampling is used to test if the product conforms or
does not conform to requirements.
Variable sampling –
The result is a continuous scale to measure to what
degree the product conforms to requirements.
Tolerance –
Storyboard Illustrating the Seven Quality
specified range of acceptable results
Management and Control Tools
Work performance information –
Quality audits –
analysis of raw performance data that is useful for
Identify lessons learned to improve performance on
decision making.
all project scheduled or random – completed by
anyone internally or externally. Confirm
implementation of approved change requests,
including corrective actions, defect repairs and
preventive actions.
Quality audits include:
Identify all good and best practices being
implemented
Identify all non-conformity, gaps , and shortcomings
Process analysis –
Follows the steps from the process improvement
plan. Undertakes root cause analysis of problem
identification
 Things to Remember

Quality related questions can be confusing

because many of the topics on the exam are not
Mutual exclusivity –
in the PMBOK® Guide PDF and because PMI
Two events are said to be mutually exclusive if they
1 quality philosophy may be different from that of
cannot both occur in a single trial. your organization. Some organizations refer to
Probability – what PMI calls Perform Quality Assurance as
This term refers to the likelihood that something will quality planning
occur
Normal distribution – The project manager should recommend
improvements to the performing organization’s
A normal distribution is the most common probability
standards, policies, and processes. Such
density distribution chart
recommendations are expected and welcomed by
Statistical independence –
the management
The probability of one event occurring does not affect Quality should be considered whenever there is a
the probability of another event occurring (i.e. the change to any component of the project
probability of rolling a six on a die is statistically constraints
independent from the probability of getting a five on Quality should be checked before an activity or
the next roll). work package is completed
Standard deviation – 2 The project manager must spend time trying to
A measure of how far you are from the mean – not improve quality
The project manager must determine metrics to
the median
be used to measure quality before the project
Sigma –
work begins
Sigma is another name for standard deviation.
The project manager must put in place a plan for
Sigma is take on both sides of the mean. Half of continually proving processes
the curve is to the right of the mean, and half of The project manager must make sure authorized
the curve is to the left of the mean. approaches and processes are followed
+/- 1 sigma (or one standard deviation) is equal to Some quality activities may be done by a quality
68.26% → % of occurrences to fall between 2 assurance or quality control department
control limits
The costs of conformance should be lower than
+/- 2 sigma (or 2 standard deviations) is equal to
3 the costs of non-conformance. The exam has
95.46% → % of occurrences to fall between 2 asked about three questions on this topic.
control limits
+/- 3 sigma (or 3 standard deviations) is equal to On the exam, assume that specification limits
4
99.73% → % of occurrences to fall between 2 are outside the upper and lower control limits
control limits
Remembering the following phrases about Pareto
+/- 6 sigma (or 6 standard deviations) is equal to charts should help you:
99.99985% → % of occurrences to fall between 5
Help focus attention on the most critical issues
2 control limits Prioritize potential “causes” of the problems
OPA updates – Separate the critical few from the uncritical
can include completed checklists and lessons learned many
 HR
MANAGEMENT
 Human Resource (HR) Management involves all the Social – belonging, acceptance, friendship
activities planning, acquiring and managing people. HR is a Esteem – recognition, status, and appreciation
soft skill that relies on the project manager’s EQ rather Self-actualization – desire to utilize one’s full
than IQ. However, it is hard to test for EQ on a potential, constant self-development
standardized test.

HR Theories McGregor’s Theory X and Theory Y

Theory X – Average worker is lazy and needs supervision
Herzberg’s theory of motivation (relies on external motivation)
Theory Y – Workers are willing to do the job without
Hygiene factors vs. motivating agents
continuous supervision (relies on self-motivation)
Motivating agents – relate to the work itself. E.g. increase
job satisfaction, accountability/responsibility
Hygiene factors – relate to work environment. E.g. admin
policies, working conditions, salary, status and security
Hygiene factors are necessary but are not sufficient for a
contented worker. If they are not present, morale and
productivity will go down. When they are present, morale
and productivity will stay the same.

Expectancy theory

People will be highly productive if the following two

conditions are satisfied:
Believe their efforts will likely lead to successful
results
Believe they will be rewarded for their success

Maslow’s hierarchy of needs

Motivation springs from an unsatisfied need

Lower level needs must be satisfied first
Dynamic of needs are complex and several needs may
impact behavior at any one time
Higher needs can be satisfied in more ways that lower
needs
Five levels of Maslow’s hierarchy of needs:
Physiological – air, water, food, sleep
Safety – protection from danger
Plan Resource Management
Plan Resource Management is the process of identifying
project roles, responsibilities, needed skills, and reporting
structure. The key benefit of this process is that it
establishes a framework for hiring and managing people
on your project. The main output of this process is the HR
management plan.
There are three different ways to represent
organizational charts and position descriptions:
a. Hierarchical (e.g. organizational breakdown structure
or resource breakdown structure)
b. Matrix (e.g. responsibility assignment matrix)
c. Text – suited for documenting detailed position Networking –
descriptions formal and informal interactions with others; can be
useful for understanding project politics
Resource calendars –
identifies when each resource will be available and
for how long.
Human Resources Management Plan –
a component of the Project Management Plan that
provides guidance on how human resources will be
hired, managed, and released on the project.

The HR management plan should include:

Responsibility Assignment Matrix (RAM) – Roles and responsibilities:
A grid that shows who is doing what on which work Roles – who does what
package or activities. Authority – the right to make decision, hire/assign
One axis of the matrix will list the names of the team resources, sign approvals, and accept deliverables
members, and the other axis will list the work packages Responsibilities – the work the team member is
or activities. The intersection of the two axes will tell you expected to complete
what the team member is doing on a particular work Competency – the skill and knowledge required to
package/activity. complete the task
RAM is RACI. RACI = Responsible, Accountable, Consult, Project organization charts
and Inform. Can be represented in 3 ways (hierarchy, matrix, or
text)
RACI Chart Person Graphic display of the reporting structure on the
project
Task Sue Tom Jason Sandy Bob
Staffing management plan
Develop Course Outline A R I C I Describes how team members will be acquired, what
tasks they will be responsible for, and how long they
Select Images A C R will stay on the project.
Includes: resource calendar, staff release plan,
Develop Content A C R I I training needs, rewards and recognition, compliance,
and safety.
Design Participant
A R I
Activites Estimate Activity Resources
Develop Assesment I A R
Estimate Activity Resources is the process of estimating
Schedule Pilot A R I team resources and the type and quantities of materials,
equipment, and supplies necessary to perform project
R = Responsible A = Accountable C = Consult I = Inform work.
Acquire Resources
Acquire Resources is the process of finding gaps in skill
sets on your project and obtaining the necessary people
to fill those gaps in order to complete your project’s
deliverables.
The key benefit of this project is that it provides an
outline for hiring new team members and assigns
responsibilities to the team.

Interpersonal skills –
interpersonal skills are soft skills that allow you to
interact with others more effectively. These skills
include emotional intelligence, conflict resolution, and
negotiation.
Team building activities –
When you are acquiring new team members, keep the team building activities bring the team together and
following in mind: enhance project performance (includes off-site
Failure to acquire the necessary resources can delay activities).
the project Ground rules –
If a person with the required skills is unavailable, find Ground rules provide the structure and expectations
alternative resources for the team to follow during the project
You should negotiate with other PMs or functional Co-location –
managers to get the resources you need for your placing team members in one location
project War room –
To negotiate for resources from within the organization, team room where all team members gather; central
the project manager should: location for project coordination
Know the needs of the project and its priority within Rewards and recognition –
the organization To promote and reinforce desired behavior while on
Be able to express how the resource manager will the project
benefit from assisting the project manager Team performance assessments –
Understand that the resource manager has his or her These assessments are meant to evaluate and
own work to do and that the individual may not gain enhance the effectiveness of the team. This
benefit from the supporting project assessment may include an analysis of how much
Do not ask for the best resources if the project does team members’ skills have improved; how well the
not need them team is performing, interacting, and dealing with
Be able to prove, by using the tools of project conflict; and the turnover rate.
management such as the network diagram and
project schedule, why the project requires the stated
quantity and quality of resources
Build a relationship so that the project manager can
call on the resource manager’s expertise later in the
project if necessary

Develop Team

Develop Team is the process of improving the skills set of

team members and the overall team environment.
The key benefit of this process is that it improves the
team work, increases competencies, motivates
employees, and reduces turnover.
 It is the project manager’s job to guide, manage,
and improve the interactions of the team
members
The project manager should improve trust and
cohesiveness among the team members
The project manager should incorporate team-
building activities into all project activities
Team building requires a concerted effort and
continued attention throughout the life of the
project
WBS creation is the team building tool
Team building should start early in the life of the
project Powers of the Project Manager
Tuckerman’s ladder –
Tuckerman’s ladder describes the stages of team The PM, has 5 types of power:
formation and development. These stages are: Formal (legitimate)
Forming – this power is based on your position
– people are brought together as a team Reward
Storming – this power stems from giving rewards
– there are disagreements as people learn to Penalty (coercive)
work together – this power comes from the ability to penalize team
Norming members
– team members begin to build good working Expert
relationships – this power comes from being the technical or
Performing project management expert
– the team becomes efficient and works Referent
effectively together. Project manager – this power comes from another person liking you,
focusses on developing individual team respecting you, or wanting to be like you
members
Adjourning
– project ends; team is disbanded

Control Resources
Control Resources is the process of ensuring that the
physical resources assigned and allocated to the project
are available as planned, as well as monitoring the
planned versus actual utilization of resources and taking
corrective actions as necessary.

Manage Team Management and Leadership Styles

Manage Team is the process of tracking team members’
Directing
performances, providing feedback, and resolving issues.
– this style involves telling others what to do
Issue logs –
Facilitating
document who is responsible for resolving specific
– this style involves coordinating the input of others
issues by a target date
Coaching
Project performance appraisals –
– in coaching, the manager helps others achieve their
include clarification of roles and responsibilities,
goals
constructive feedback on team members, discovery
Supporting
of unknown or unresolved issues, establish for future
– this style involves providing assistance along the way
time periods goals
Autocratic Analytical
– this is a top-down approach where the manager – this style depends on the manager’s own technical
has power to do whatever he or she wants. The knowledge and ability. Analytical managers often
manager may coach or delegate, but everyone is done make the technical decisions for the project, which
what the manager wants them to do they communicate to their teams. Interview style
Consultative communication, in which the project manager ask
– this bottom-up approach uses influence to achieve questions to get the facts, is common with this style
results. The manager obtains others’ opinions and Driver
acts as the servant for the team – a driver manager is constantly giving directions. His
Consultative–autocratic or her competitive attitude drives the team to win
– the manager solicits input from team members, but Influencing
retains decision making authority for him or herself – this style emphasizes team work, team building, and
Consensus team decision making. These managers work with
– this style involves problem solving in a group, and their teams to influence project implementation.
making decisions based on group agreement
Conflict Management

Delegating
– the manager establishes goals and then gives the
project team sufficient authority to complete the
work. For basic project management, the manager
would involve the team in the planning process and
assign or delegate planning work and executing work
to team members
Bureaucratic The following are the main conflicts resolution techniques you
– focuses on following procedures exactly. It may be will need to know for the exam.
appropriate for work in which detail is critical or in Confronting/problem solving
which specific safety or other regulations must be – confronting means solving the real problem so that
strictly adhered to the problem goes away. Confronting leads to win-win
Charismatic situation
– charismatic managers energize and encourage their Compromising
team in performing project work. Project success – this technique involves finding solutions that bring
may become dependent on the presence of the some degree of satisfaction to both parties. This is a
charismatic leader, and the team relies on the leader low-lose situation since not part gets everything
for motivation Withdrawal/Avoidance
Democratic or participative – the parties retreat or postpone a decision on a
– involves encouraging team participation in the problem.
decision-making process. Team members “own” the Smoothing/Accommodating
decisions made by the group, which results in the – this technique emphasizes agreement rather than
improved teamwork and cooperation differences of opinion
Laissez-faire Collaborating
– the French term as been translated as meaning – the parties try to incorporate multiple viewpoints in
“allows to act” or “leave alone.” Manager is not order to lead to consensus
directly involved in the work of the team, but Forcing
manages and consults. This style can be appropriate – this technique involves pushing one viewpoint at the
with a highly skilled team. expense of another
COMMUNICATIONS
MANAGEMENT
 Project Communications Management is the process of Barriers to communication
planning, collecting, storing, and updating project
information. No channels –
The Communications Management knowledge area that a lack of clear communication channels
project manager spends the most time on. In fact, over Distance –
90% of the project manager’s time is spent on physical or temporal distance between the
communications. communicator and receiver
In this article, we will cover the key terms and three Difficulties with technical language –
processes in the Communications Management Knowledge the presence of communication barriers may lead to
Area. increased conflict
Plan Communications Management Noise –
Manage Communications distracting environmental factors; not paying
Monitor Communications attention
Things to Remember Detrimental attitudes –
hostile attitudes are communication blockers. All
communication blockers are noise, but not all noise
are communication blockers

Stakeholder

The project manager need to be the expert in project

management, and the stakeholders are the technical
experts in what needs to be done and how it need to be
done. The project manager is the orchestra leader, and
the work cannot be done well without stakeholder
involvement

Kick-off meeting

Get team members to know each other

Establish working relationships and lines of
Communication role of PM
communication
Set team goals and objectives
Review project plans
Identify problem areas
Establish individual and group responsibilities
Obtain individual and group commitments
 PM’s spend about 80 – 90% of their time acquiring and Organization structure and communication
communicating information
PM is key to all project communications and must be 3 types of organizations: functional, projectized, matrix
skilled at communicating with top management, Communication and information flows are thought to be
customer, project team, competing project teams (peers) the most complex in the matrix environment
PM serves as focal point for ensuring real, two-way Best positive communications – free flow of information
communication between the project team and customer
PM’s communications covers all facets: laterally, Plan Communications Management
vertically and diagonally through an organization and
Plan Communications Management is the process of
across
developing communications plans and processes based on
the existing procedures and stakeholder’s needs. The
Building effective team communications main output of this process is the Communications
Management Plan.
Communication requirements analysis determines the
information needs of the project stakeholders

Sources of information used to identify

communication requirements:
Organizational charts
Stakeholder register
Project charter
Project documents

Communication technology and factors that affect it:

Be an effective communicator
Be a communications expeditor – initiate relationships Urgency of the need for information
Avoid communication blockers (i.e. negative response that Availability of technology
kill or inhibit) Ease of use
Innovative ideas Project environment
Use a tight matrix – collocation of project team is best Sensitivity and confidentiality of the information
communication for the team
Have a project war room Communication model:
Make meetings effective
Establish a meeting policy Communication models are framed around three parts:
Only call a meeting when there is a real need Sender
Make the purpose of the meeting very clear Messenger
Prepare an agenda Receiver
Encourage participation
Issue minutes
Follow up on all tasks and action items

General management skills

Leading
Communicating
Establishing direction; motivating
Exchange of info – written/oral; formal/informal;
vertical/horizontal Effective communications
Negotiating
Problem solving The sender should encode a message, determine which
Conferring with others to reach an agreement communication method to use, and confirm that the
Combination of problem definition and decision message is understood. When encoding the message, the
making sender needs to be aware of the following communication
Influencing organization
factors:
Ability to get things done
 Non-verbal – about 55% of all communication is non- Manage Communications
verbal
Paralingual – pitch and tone of voice also help to Manage Communications is the process of creating,
convey a message collecting, distributing, and updating project information
according to the Communications Management Plan. This
Communication methods process happens during the Executing process group.
The key benefit of this process is that it enables efficient
These methods can be grouped into the following categories:
communications between project team members and
Interactive communications stakeholders.
The method is reciprocal and can involve just two
people or many people Communication methods
Examples include conversations, meetings, and
Face-to-face (most effective), meetings, video and audio
conference calls conferences, email, instant messaging, etc.
Push communications
This method involves a one-way stream of Techniques and considerations for
information effective communications
The sender provides the information to the people
who need it but does not expect feedback on the Sender-receiver models
Choice of media
communication
Writing style
Examples include status reports and email updates
Meeting management techniques
Pull communications
Presentation techniques
The project manager places the information in a Facilitation techniques
central location. The recipients are then responsible Listening techniques
for retrieving or “pulling” the information from the
Performance reporting
location
Includes collecting and distributing project performance
information
Includes status reports, progress reports and forecasts
Remember that reports are backward-looking, not
forward-looking tools

Project communications components include:

Performance reports,
Deliverables status,
Schedule progress
Cost incurred

Communication Channels
Communication type When used = [n*(n-1)]/2, where n = number of people

Complex problems, project PM Expectations

management plan , project
Formal written
charter , communicating over long
distances

Formal verbal Presentations , speeches

E-mail, handwritten notes, text

Informal written
messages, instant Messages

Informal verbal Meetings, conversations

 Stakeholders’ need must continue to be met and their Earned value report –
issues resolved throughout the project integrates scope, cost, and schedule measures to
Make stakeholders feel that their needs and concerns are assess project performance, using the terms
being considered described in Cost Management section
Keeping open communication channels with the Lessons learned documentation –
stakeholders is key so they can inform the project reports on performance are used as lessons learned
manager of potential changes, added risks, and other for future projects
information
Things to understand:
Monitor Communications
Monitor Communications is the process of analyzing
communications through the project life cycle and
sending relevant work performance information to
stakeholders.

Reports should provide the kinds of information and the

level of detail required by stakeholder
Reports should be designed for the needs of the project
The best way to have a report read and acted on is to use
the most appropriate communication method in sending it
You should not spend all time reporting. Remember that
many reports are just about the past. Finding information
Communication blockers include things such as: about the past means it is too late to prevent the
problem. You need to keep managing the project, rather
Noisy surroundings than just reporting on it, to make a project successful
Distance between those trying to communicate Report should include measurements against the
Improper encoding of messages performance measurement baseline set in the project
Making negative statements management plan. Remember that you should have
Hostility performance measurement baseline (the combined scope,
Language barriers schedule, and cost baselines) that can be measured. Those
Culture barriers measurements are an indication of how successful you
are as a project manager
Reports must be truthful and not hide what is really going
There are different types of performance reports: on

Status report – Things to Remember

this report describes where the project now stands
regarding the performance measurement baseline Identify ALL stakeholders
Progress report – Any stakeholders who are missed will likely be found
describes what has been accomplished later. When they are uncovered, they will make changes
Trend report – and could cause delays. Changes made later in the project
examines project results over time to see if are much more costly and harder to integrate than those
performance is improving or deteriorating made earlier.
Forecasting report – A list of stakeholders is included in the stakeholder
register
predicts future project status
Stakeholders are first identified as part of initiating the
Variance report –
project, and this list is reassessed during project
compares actual results to baselines
execution
 Determine their interest
Stakeholders may be particularly interested in working on
some part of the project, getting a chance to learn new
skills, getting a chance to prove their skills, or even
getting out of working on certain parts of the project
A great project manager, will determine each
stakeholder’s interest related to the project and
attempt to either build them into the project or
implement them as reward

Determine ALL of their requirements Determine their level of influence

The project manager must make every effort to obtain To some degree, each stakeholder will be able to
ALL the requirements before work begins negatively or positively affect a project. This is their level
There are many ways to make sure you have all of influence, and it should be identified and managed
requirements – from just asking if you do, to conducting
requirement reviews, to telling people the negative Plan how you will communicate with them
consequences to the organization and the project if
requirements are found later Project management focuses on planning before taking
The requirements should not just relate to how action. Since communications are the most frequent
stakeholders want the product of the project to function, cause of problems on projects, planning communications
but should also include their communications is critical
requirements Communicate with them
Determine their expectations Stakeholders are included in project presentations are
receive project information, including progress reports,
These are what the stakeholders expect to happen to
updates, changes to the project management plan, and
them, and their department, and company as a whole.
maybe even changes to the project documents
They tend to be much more ambiguous than stated
requirements, or they may be undefined requirements.
They may be intentionally or unintentionally hidden
Naturally, expectations that go unidentified will have
major impacts across all constraints
Expectations are converted to requirements and become
part of the project

Manage their expectations and influence

Managing stakeholder doesn’t end during initiating. They
must be managed throughout the life of the project
 RISK
MANAGEMENT
Project Risk Management includes all the processes There are 6 processes within this Knowledge Area, and they
involved in risk identification, regulation, and mitigation on are:
a project. Plan Risk Management
The objective is to increase the likelihood of positive risks Identify Risks
(opportunities) and decrease the likelihood of negative Perform Qualitative Risk Analysis
risks (threats). Perform Quantitative Risk Analysis
Plan Risk Responses
Implement Risk Responses
Monitor Risks
Things to Remember

Plan Risk Management

Plan Risk Management is the process of defining how risk
management activities will be conducted on the project.
The main output of this process is the Risk Management
Plan. The components of this plan include the following:
Methodology
This section defines how you will perform risk
management for the particular project. Remember to
Uncertainty – adapt to the needs of each project.
Uncertainty is a lack of knowledge about an event Low priority projects will likely warrant less of a risk
that reduces confidence in conclusions drawn from management effort than high priority projects
the data Roles and responsibilities
Risk factors – Who will do what?
When looking at risks, one should determine Did you realize that non-team members may have
The probability that it will occur (what) roles and responsibilities regarding risk
The range of possible outcomes (impact and management?
amount at stake) Budgeting
Expected time (when) in the project life cycle This section includes the cost for the risk
The anticipated frequency of risk events from the management process
source (how often) Realize the cost of doing risk management, but also
Risk adverse – realize risk management saves time and money
Someone who does not want to take risks overall by avoiding and reducing threats
Risk tolerance – Timing
How much risk someone can tolerate/withstand This section talks about when to do risk management
Risk threshold – for the project
The risk threshold determines at which point the risk Risk management should start as soon as you have
becomes unacceptable to stakeholders the appropriate inputs and should be repeated
Risk appetite – throughout the life of the project, since new risks can
Degree of uncertainty an entity is willing to take on in be identified as the project progresses and the
anticipation of a reward degree of risk may change
Project manager’s role –
Monitor and control the various aspects of the
project
Look for deviations from the trend and react early
Keep stakeholders informed of project progress
Known risks –
Risks that have been identified; if known risks cannot
be managed, they can be mitigated with the
contingency reserve
Unknown risks –
Risks that have not been identified; if unknown risks
occur on the project, they can be handled with the
management reserve
Risk categories Types of risk:
Definition of probability and impact
Would everyone who rates the probability a 7 in Business risk – risk of gain or loss
qualitative risk analysis mean the same thing? Pure (insurable) risk – only a risk of loss
A person who is risk averse might think of 7 as very
high, while someone who is risk prone might think 7 as Identify Risks
a low figure. The definitions and the probability and
impact matrix help standardize these interpretations Identify Risks is the process of determining which risk
and also help compare risks between projects may affect the project and documenting their
Stakeholder tolerances characteristics.
What if the stakeholders have a low risk tolerance for Everyone on the project team should be encouraged to
cost overruns? That information would be taken into participate in this process.
account to rank cost impacts higher than they would
The tools and techniques of this process are:
if the low tolerance was in another area
Tolerance should not be implied, but uncovered in
Documentation review
project initiating and clarified or refined continually
Reporting formats The project artifacts, including the project charter and
This describes any reports related to risk procurement contracts, can help identify risks.
management that will be used and what they will
include Information gathering techniques
Tracking
Brainstorming
Take this to mean how the risk process will be
Delphi technique
audited, and the documents of what happens with
A request for information is sent to all experts, their
risk management activities
responses are compiled, and the results are sent back to
On your project, you may identify hundreds (and maybe them for further review until consensus is reached
even thousands) of risk. When you have a large project Interviewing
with large number of risks, you need to categorize them Root cause analysis
to make it easier to manage them. Below are some
categorizations and types of risks. SWOT analysis
Risk categories:
This analysis identifies the project’s strengths and
External weaknesses (internal) as well as opportunities and
– regulatory, environmental, government, market
shifts threats (external)
Internal
– time, cost, scope changes; inexperience; poor
planning
Technical
– changes in technology
Unforeseeable
– only a small portion of risks (some say about 10%)
are actually unforeseeable
Work package
– group risks based on which work package they are
in
Root cause
– group risks based on the same root cause
Checklist analysis Perform Qualitative Risk Analysis
Based on historical information Perform Qualitative Risk Analysis is the process of
The lowest level of RBS (risk breakdown structure) can prioritizing risks for further analysis. This process
also be used as a risk checklist assesses the risks’ probability of occurrence and impact
The checklist is used to help identify specific risks within (subjective analysis). The key benefit of this process is
each category that it identifies the high priority risks and allows the
project team to focus on those.
Here are some key concepts for this process:

Risk analysis

Qualitative risk analysis is a subjective analysis of risks

To perform this analysis, the following is determined:
The probability of each risk occurring, using a
standard scale such as low, medium, high or 1 to 10
The impact (amount at stake or consequences,
positive or negative) of each risk occurring, using a
standard scale such as low, medium, high or 1 to 10
Assumptions analysis Probability & impact assessments examine:
Likelihood that a risk will occur
Analyzing what assumptions have been made on the Impact on project objectives (e.g. schedule, cost,
project may lead to the identification of risks quality, etc.)
Probability and impact matrix can be used to prioritize
Diagramming techniques risks for quantitative analysis
Uses subjective measurements, such as ‘very high’,
Cause and effect diagrams (Ishikawa )
‘high’, ‘medium’, ‘low’, or ‘very low’
System or process flow charts
Influence diagrams Impact

Trivial Minor Moderate Major Extreme

Rare Low Low Low Medium Medium

P
r
o Unlikely Low Low Medium Medium Medium
b
a
b Moderate Low Medium Medium Medium High
i
The output of this process is the risk register. The risk register l
is the place where most of the risk information is kept. At this Likelyl Medium Medium Medium High High
i
point in the risk management process, the risk register t
includes: y Very
Medium Medium High High High
Lists of risks Likely
Root causes or risk
Root causes of risks are documented Risks with low ratings should be included on a watch list
Risk categories and tracked to ensure their ratings did not change
Potential risk responses Risk data quality assessment is a technique of evaluating
There will be times when a response is identified at whether the data available for the risks is comprehensive
the same time as a risk and useful. Risk data quality assessment may include:
These responses should be added to the risk register Understanding of the risk
as they are identified Data available about the risk
The responses are analyzed and finalized during the Quality of the data
Plan Risk Responses process Reliability and integrity of the data
Perform Quantitative Risk Analysis
The Perform Quantitative Risk Analysis process analyzes
the numerical impact of identified risk on project
deliverables. It is only used for high priority risks.
The purpose of quantitative risk analysis is to:
Determine which risk events warrant a response
Determine overall project risk (exposure)
Determine the quantified probability of meeting
project objectives
Determine cost and schedule reserves
Identify risks requiring the most attention
Create realistic and achievable costs, schedule or
scope targets Monte Carlo Analysis –
Quantitative probability and impact can be determined in performs the project many times to provide a
various ways, including the following: statistical distribution of the calculated results to
Interviewing quantify the risk of various schedule alternatives
Cost and time estimation Monte Carlo analysis is used for:
Delphi technique Evaluating overall risk in the project
Use of historical records from previous projects Determining the probability of completing the project
Expert judgement on any specific date or for any specific cost
Expected monetary value analysis Determining the probability of any activity actually
Monte Carlo analysis being on the critical path
Decision tree Translating uncertainties into impacts to the total
project
Quantitative risk analysis Calculating in a probability distribution
and modeling techniques Impact Analysis –
what is the likelihood the event will occur vs. the
Decision trees – severity of the impact on the project if it does occur
diagram shows key interaction among decisions and Sensitivity analysis
associated chance events. Decisions are shown as Places value on the impact of changing a single
boxes and chances are shown as circles. variable
Can take future events into account for decision Helps determine which risks have the most potential
making impact on the project (Tornado diagram)

Plan Risk Response

Plan Risk Response process develops options and actions
to enhance opportunities and reduces threats to project
objectives.
The choices of response strategies for threats include:
Avoid
Eliminate the threat by eliminating the root cause
g. reduce scope or remove the work package
Mitigate
Reduce probability or the impact of a threat
Options for reducing the probability are looked for
EMV separately from options for reducing the impact
Sum of probability times the expected outcome Any reduction will make a difference, but the option
Calculates the average outcome with the most probability and/or impact reduction is
Simulation – often the option selected
analyze the behavior of the system. Most common is Transfer (deflect – allocate)
the schedule simulation which uses the project Make another party responsible for the risk by
network as the model based on the Monte Carlo purchasing insurance, performance bonds,
analysis warranties, guarantees, or outsourcing work
 One must complete risk assessment before a Risk audits
contract can be signed An audit that ensures your project team is following
Transfer of risk is included in terms and conditions of the organization’s risk processes, including
the contract identifying risks and creating mitigation plans for
The choices for response strategies for opportunities include: high priority risks.
Exploit Examine and document the effectiveness of risk
Add work or change the project to make sure the responses.
opportunity occurs Develop organizational best practices.
Enhance Workarounds
Increase the likelihood (probability) and/or positive Whereas contingency responses are developed in
impacts of the risk event advance, workarounds are unplanned responses
Share developed to deal with the occurrence of
Allocate ownership of the opportunity to a third unanticipated risk events.
party (forming a partnership, team, or joint venture) When project deviate from baseline, the team may
that is best able to achieve the opportunity need to take a corrective action.
A response strategy for both threats and opportunities is: Risk assessments
Accept The project team needs to periodically review the risk
Active acceptance may involve the creation of management plan and risk register and adjust them
contingency plans to be implemented if the risk as required
occurs and the allocation of time and cost reserves Risk management is an iterative process
to the project Contingency reserve
Passive acceptance leaves actions to be determined The budget set aside to handle specific risks if they do
as needed, if (after) the risk occurs occur
A decision to accept a risk must be communicated to Reserve analysis
stakeholders Analyzing how much money you have left in the
reserves and how much you may need in the future

Things to Remember
The exam will assume that you are already doing risk
management and therefore asks questions at
sophisticated level about situations you should have
already run into
The exam will also ask about how risk management
activities change what you need to do each day as a
project manager. This is an incredibly important concept
that you need to get your mind around for the exam. You
Implement Risk Responses must understand this picture of the life of a project
manager. Through risk management, the project changes
Key concepts for this process: from being in control of the project manager to the
Contingency plans/Fall back plans are plans to follow project manager being in control of the project
when the risk becomes an issue. The exam will test your knowledge of the process of risk
Residual risk – the risk that remains after the management. This process is very logical. Expect to be
contingency plan has been implemented. given a situation on the exam and then asked which risk
Low priority tasks are put onto a watch list and revisited management process is being described in the situation
periodically. Because risk identification primarily occurs during the
Risk is the most important item during project team initiating and planning process groups, the exam has
meetings. often said that the major part of risk identification
happens at the onset of the project. But smaller
Monitor Risk numbers of risk may also be identified during later parts
of the project. Risks should be continually reassessed.
Monitor Risk is the process of implementing the risk The exam will specifically look for you to include risk
response plans, tracking identified risks, monitoring identification during such activities as integrated change
residual risks, and evaluating the risk processes’ control, when working with resources, and when dealing
effectiveness. with project issues. The exam weights the questions
Here are the key concepts and terms you need to understand towards project executing and project monitoring and
for this process: controlling, rather than the identification of risks.
Things to Remember Here are a couple of other points that can be tricky:
Can you eliminate all risks on a project?
The Perform Quantitative Risk Analysis process can Remember that risks can actually be eliminated,
include a lot of calculation and analysis. Luckily the but the time and trouble involved in eliminating
details of these efforts are not a focus for the exam. You all the risk identified on the project would
will need to know that the following are part of probably not be worthwhile
quantitative risk analysis but not know how to do them Qualitative risk analysis, quantitative risk analysis,
other than what is explained here. and risk response planning do not end once you begin
Further investigating the highest risks on the work on a project
project You need to review risks throughout the project and
Determining the type of probability distribution that then return to planning to determine what to do
will be used about any newly identified risks
Triangular Risk ratings and response strategies for existing
Normal risks can also change later in the project as more
Beta information about the risks and the selected
Uniform strategies becomes known
Log normal distribution Ratings and response strategies must be reviewed
Performing sensitivity analysis to determine which for appropriateness over the life of the project as
risks have the most impact on the project well
Determining how much quantified risk the project
The exam may describe situations where the wrong thing
has through expected monetary value analysis or
is being done to see if you realize it is wrong. The following
Monte Carlo analysis
is a list of some of the common risk management errors
Questions on the exam can ask “what is the expected
people make.
monetary value of the following?” expected monetary
Risk identification is completed without knowing
value questions can also be asked in conjunction with
enough about the project
decision trees
Project risk is evaluated using only a questionnaire,
You do not need to know how to perform this calculation
interview, or Monte Carlo analysis and thus does not
for the exam. Simply know the following. Monte Carlo
provide specific risks
analysis:
Risk identification end too soon, resulting in a brief
Is usually done with a computer-based Monte Carlo
list (~20 risks) rather than an extensive list
program because of the intricacies of the
The processes of Identify Risks through Perform
calculations
Quantitative Risk Analysis are blended, resulting in
Evaluates the overall risk in the project
risks that are evaluated or judged as they come to
Provides the probability of completing the project on
light. This decreases the number of total risks
any specific day, or for any specific costs
identified and causes people to stop participating in
Provides the probability of any activity actually being
risk identification.
on the critical path
The risk identified are general rather than specific
Takes into account path convergences
Some things considered to the risks are not
Places in the network diagram where many paths uncertain; they are facts, and are therefore not risks
converge into one activity Whole categories (technology, cultural, marketplace,
Translates uncertainties into impacts to the total etc.) of risk are missed
project Only one method is used to identify risks rather than
Can be used to assess cost and schedule impacts a combination of methods. A combination helps
Results in a probability distribution ensure that more risks are identified
There have traditionally been only one or two questions The first risk response strategy identified selected
about decision trees on the exam. You should know what is without looking at other options and finding the best
decision tree is and be able to calculate a simple one from option or combination of options
data provided. The exam could ask you to calculate the Risk management is not given enough attention
expected monetary value (or just value) of a path or the during project executing
value of your decision Project managers do not explain the risk
Assume that all the major problems that could have been management process to their team during project
identified in advance as risks were determined before planning
they occurred and that there was a plan put in place for Contracts are usually signed long BEFORE risks to the
each of these risks project are discussed
PROCUREMENT
MANAGEMENT
 Procurement Statement of Work (SOW)

The Procurement SOW describes the scope that the

vendor/seller must accomplish. This document describes
all the work and activities the seller must complete. This
document must be as clear, complete, and concise as
possible.
There are many types of procurement statements of
work. Your choice will depend on the nature of the work
and type of industry.
Performance
Procurement is the formal processes many organizations This type conveys what the final product should
follow obtain goods and services. Project Procurement be able to accomplish, rather than how it should
Management is the process of selecting, monitoring and be built or what its design characteristics should
closing vendor contracts. be
1. Plan Procurement Management
Functional
2. Conduct Procurement
This type conveys what the end purpose or result,
3. Control Procurement
rather than specific procedures
Here are some key concepts for this Knowledge Area:
There are many names for procurement documents, It is to be used in the performance of the work
such as Request for Proposals (RFP), Invitation for Big and may also include a statement of minimum
(IFB), and Request for Quotation (RFQ). essential characteristics of the product
Contract – A mutually binding agreement that Design
obligates the seller to provide something of value (e.g. This type conveys precisely what work is to be
product or service) and the buyer to provide done
monetary compensation There are three categories of contracts, and they are:
The seller can also be referred to as: contractor,
Fixed price
subcontractor, vendor, supplier, or service provider
Time and materials
During the procurement lifecycle, the seller wears
Cost reimbursable
different hats. At the beginning, the seller is a bidder
trying to win the contract. When they are selected,
they become the selected source. When they begin
working on the project, they are the contracted
supplier.

Plan Procurement Management

Plan Procurement Management is the process of
establishing procurement processes to follow. This
process will standardize the way the project team
selects vendors and administers contracts.
The key activities in this process include:
Creating a procurement management plan
Creating templates for procurement statement
of work
Selecting a contract type for each procurement
Creating the procurement documents
Determining the source selection criteria
The main output of this process is the procurement
management plan.
This plan is a subsidiary plan of the overall project
management plan.
It describes how the procurement process will be
planned, executed, and controlled.
Source selection criteria Purchase order
Source selection criteria are included in the procurement
A purchase order is the simplest type of
documents to give the seller an understanding of the
fixed price contract. This type of contract
buyer’s needs and to help the seller decide whether to bid
is normally unilateral (signed by one party)
or not. instead of bilateral (signed by both parties)
Source criteria may include:
Number of years in business or financial stability Terms and conditions
Understanding or need
Terms and conditions (either standard or special) in a
Price or life cycle costs
contract differ based on what you are buying. If you are
Technical ability
buying work that includes equipment, you will need terms
Quality or past performance that describe when ownership of the equipment will be
Ability to complete the work on time transferred to the buyer and terms that require
Project management ability insurance for damages in transit
Make-or-buy analysis
Non-Disclosure Agreement (NDA)
This analysis determines whether it is more
NDA is an agreement between the buyer
profitable to produce the product or service in-
and prospective sellers to keep project
house or outsource it to third party vendors.
information and artifacts confidential.
Market research
Examination of industry and vendor
specific capabilities and prices

Conduct Procurement
Conduct Procurement is the process of obtaining seller
Non-competitive forms of procurement responses, selecting a seller, and awarding a contract.
Here are some concepts and terminologies from this
If you do not use a competitive process, you are entering process:
into one of the following types of non-competitive
procurements Bidders’ conference
Single source The buyer can hold a bidders’ conference to give all the
In this type of procurement, your contract prospective sellers a chance to ask questions and clarify
directly with your preferred seller without going expectations
through the procurement process. This might be a
Qualified sellers list/Prequalified sellers list
company you have worked with before and, for
various reasons, you do not want to look for Some buyers may have a list of pre-approved
another vendors that they must choose from
Sole source
In this type of procurement, Seller proposal
there is only one seller. This might
The seller’s response to the procurement
be a company that owns a patent
documents, including the price
 Proposal evaluation techniques
BIDDERS’ A formal evaluation review process of all
of the sellers’ proposals (this process is
CONFERENCE different for every organization)

Control Procurement
Control Procurement is the process of managing
procurement relationships, monitoring contract
performance, and making changes when necessary.
The key benefit of this process is that it ensures that both
the sellers and buyers are operating in accordance to the
terms and conditions outlined in the procurement
Proposal review
contract.
After reviewing the proposals, the buyer uses the source Here are the key concepts and terminologies for this
selection criteria identified in the Plan Procurement process:
process to assess the potential sellers’ ability and
willingness to provide the requested products or services. Contract Change Control System

Negotiation This system includes change procedures, forms, dispute

resolution processes, and taking systems and is specified
The discussions between the buyer and seller with the in the contract
goal of reaching an agreement. The project manager is Procurement performance review
usually not the lead negotiator for procurement.
It is important for everyone involved in negotiations to During the Control Procurement process, the project
understand that the objectives of negotiation are to: manager should analyze all available data to verify that
Obtain a fair and reasonable price the seller is performing as they should
Develop a good relationship with the seller
To achieve a signed contract, the following are usually Claims administration
negotiated in order. A claim is an assertion that the buyer or the seller did
Scope something to hurt the other party. Clam administration is
Schedule the process of handling the claims (or disputes) that
Price arises between the buyer and the seller.
There are other things that need to be negotiated. These
include: Escalation process for claims
Responsibilities
= claims -> disputes -> appeals
Authority
Applicable law
Records management system
If you are working with a seller from a different
state, country or region, you need to agree upon A contract is a formal, legal document, and this document
whose law will apply to the contract needs to be kept in the records management system,
Project management process to be used even after the project ends. Record keeping can be critical
Payments schedule if actions taken or situations that occurred during a
procurement are ever in question after the work is
Contract completed, such as in the case of unresolved claims or
The entire procurement agreement between legal actions. Records may also be necessary to satisfy
both parties, including the terms and insurance requirements.
conditions, procurement SOW, and timelines.
Contract interpretation
Letter of Intent
Contract interpretation is based on an analysis of the
A letter that is not legally binding that says that the intent of the parties to the contract and a few guidelines.
buyer intents to hire the seller. This letter gives the seller One such guideline is that the contract supersedes any
the confidence to hire additional staff or acquire more memos, conversations, or discussions that may have
resources (if needed) to prepare for the new project. occurred prior to the contract signing
Termination – Price
– Profit (fee)
The contract should have provisions for termination.
– Cost
Termination can be done for cause or for convenience.
– Target price
Termination is a serious issue, and one that has lasting o Target price = target costs + target fees
effects on the project. – Sharing ration
o Incentives take the form of a formula, usually
Inspections and audits
expressed as a ratio
o This ratio describes how the cost savings or cost
The buyer may choose to conduct inspection audits during
overrun will be shared with the buyer, their first
execution to verify the seller’s work
number being the account the buyer will keep and the
Payment systems second number being the amount the seller will keep
– Ceiling price
usually accounts payable systems of the buyer that pays o This is the highest price the buyer will pay
the vendor after the work has been verified – Point of Total Assumption (PTA)
o This only applies to fixed price incentive fee
Things to Remember contracts and refers to the amount above which the
seller bears all the loss of a cost overrun
I highly recommend that you get your mind around o Costs that go above the PTA are assumed to be due
being a buyer before you take the exam. The issues and to mismanagement
impacts of many situations are completely different if o Sellers will sometimes monitor their actual costs
1 you are the buyer than if you are the seller. against the PTA to make sure they are still receiving a
profit for completing the project
The exam also assumes the seller is not supplying
o PTA = [(ceiling price – target price)/buyer’s share
people to adjunct the buyer’s team, meaning that the
ratio] + target cost
seller remains external to the project team
Most of the question on the exam will present
Keep in mind the following general rules, especially if
situations and ask you questions about those
you find a question with an answer that is not
situations. In procurement, tricky questions can
immediately apparent:
5 include addressing concepts that you may not have
– Contracts require formality
dealt with before, such as describing th work that
– All products and project management requirements would need to be done to negotiate a contract when
for the procurement work should be specifically there is no competition
stated in the contract
– If it is not in the contract, it can only be done if a The exam often asks what things the project manager
formal change order to the contract is issued must watch out for in a bidder conference. The
2
– If it is in the contract, it must be done or formal answers include:
change order must be approved by both parties – Collusion
– Changes must be submitted and approved in writing – Seller not asking questions in front of the
6
– Contracts are legally binding: the seller has no competition
choice but to perform as agreed in the contract – Making sure all questions and answers are put in
– Contracts should help diminish project risk writing and issued to all potential sellers. This ensures
– Most governments back all contract that fall within all sellers are responding to the same procurement
their jurisdiction by providing a court system for statement of work
dispute resolution
A project manager must understand the following
about the Administer Procurement process:
Expect the exam to ask questions like, “you do not
– What the project manager should be doing at any
have a finalized scope; which contract type is best?”
point in time
or “you do not have a complete scope or work and
– What problems and issues to watch out for under the
3 have a fixed price contract. What problems can you different contract types that might affect the
expect to run into?” The exam tests whether you know 7
management of the project
what to do in different situations, not just if you know – That all work and legal requirements in the contract
definitions must be accomplished, however small and however
seemingly unimportant
The following list of terms you should understand for – That the project manager must help uphold all parts
4
the exam. of the contract, not just the project scope
STAKEHOLDER
MANAGEMENT
 Project Stakeholder Management identifies people or Classification models
organizations that may impact or be impacted by your Power/interest grid
project, and develops strategies to manage their Power/influence grid
expectations. Influence/impact grid
Salience model (describes stakeholders based on
Key Terms power, urgency, and legitimacy)

Stakeholder Plan Stakeholder Engagement

A stakeholder is anyone who has a “stake” in the project. Plan Stakeholder Engagement is the process of
Stakeholders can either impact or be impacted by the developing strategies to increase stakeholder interest
project. Key stakeholders are those people who can make and engagement on your project. The goal is to increase
project-level decisions (e.g. project sponsor). project supporters and minimize resistors throughout the
Stakeholder analysis entire project lifecycle.
Analytical techniques are used to determine
Stakeholder analysis involves identifying all the stakeholders’ current engagement level and the desired
stakeholders, analyzing how each stakeholder can impact engagement levels. When there’s a gap between the
or influence the project, and developing strategies to current engagement level and the desired levels, the
influence the stakeholders’ impacts. project team will develop plans to minimize the gap and
Stakeholder management strategy increase stakeholder engagement.
There are 5 levels of stakeholder engagement:
Strategies to increase stakeholders’ Unaware
support and minimize their resistance (e.g. Resistant
through use of stakeholder analysis matrix) Neutral
Stakeholder register Supportive
Leading
Stakeholder register may contain information
Stakeholder engagement assessment matrix is used to
about the stakeholder. It can include the
map a stakeholder’s current engagement level and
following: Name, Title, Project role, Contact
his/her desired engagement level.
info, Influence, Impact, and Attitude.
Manage Stakeholder Engagement
Identify Stakeholders
Identify Stakeholders is the process of identify people, Manage Stakeholder Engagement is the process of
groups, or organizations that may impact or be impacted communicating and working with stakeholders to meet
by your project. This process collects relevant their expectations. This process involves engagement
information about your stakeholders and monitors their stakeholders, addressing their concerns, and clarifying
interests. Identifying and analyzing your stakeholders can issues.
minimize change resistors and lead to project success. When the stakeholders feel their concerns have been
heard and addressed, their support for the project will
increase.
The stakeholders’ influence on the project is highest
during initiation and gets progressively lower as the
project progresses.
To be successful on this process, you, the project
manager, need to have strong interpersonal skills, such
as conflict resolution and active listening.

Monitor Stakeholder Engagement

Monitor Stakeholder Engagement is the process of
monitoring overall project stakeholder relationships and
adjustment strategies for engagement accordingly.
Information management systems are tools that allow
project managers to capture, store and distribute
information about stakeholders. Some information about
stakeholders can be highly confidential and may not be
documented.
SECTION 1
 Understanding the Fundamentals
of Project Management
Project Management Fundamentals
In the fast-paced world of business, project management
is a total game-changer. It's like the special ingredient
that helps organizations achieve their goals and
objectives. Think of it as the skill of planning, organizing,
and actually getting things done. But here's the twist: it's
not just about telling people what to do and ensuring
things are completed on time. Nope, it's much more
complex than that.
Project management is about finding harmony. Picture
juggling three balls simultaneously: time, cost, and scope.
That's what we call the triple constraint. And if that isn't
But wait, there's more. Let's discuss integration. It's like
challenging enough, you also need to keep track of
the adhesive that binds everything together. Integration
resources and stakeholders. It's akin to being the leader
ensures that all the different components of a project
of a bustling circus, striving to maintain order amidst the
seamlessly fit together. Without it, everything falls apart,
chaos.
much like a puzzle missing a piece.
Moving on to scope management. This involves clearly
defining what the project entails and sticking to it. It's
like drawing a line in the sand and saying, "This is our
focus." Then, you must ensure you deliver what was
promised, navigating through changing requirements like
a ship captain in stormy seas.
Time is precious, my friend, which is why schedule
management is crucial. It's about keeping track of time,
ensuring you stay on track and avoid delays. It's like being
a skilled magician, using all your tricks to keep things
running smoothly.

Now, let's delve deeper into this project management

concept. We need to go back to its origins in the early 20th
century. During that time, people recognized that
intricate projects required organization. That's when
project management emerged, gradually evolving into
various methodologies. We've progressed significantly
from traditional, waterfall approaches to the more
adaptable and agile frameworks we have today.
Now, let's explore the project life cycle. It's similar to
watching a seed grow into a towering tree. Each project Let's talk about money because, let's be real, it all boils
progresses through various stages, from beginning to end. down to dollars and cents. Cost management is about
These stages have their own unique milestones and closely monitoring the budget to ensure you're not
outcomes, serving as a roadmap for project managers, overspending. It's like being the financial manager of your
guiding them on what needs to be done and when. Trust project, carefully managing expenses to make every
me, it's a crucial aspect of project management. dollar count.
Quality is crucial. You can't deliver a subpar product or Lastly, let's discuss exam preparation. After mastering
service and expect satisfaction. That's where quality all the project management concepts, it's time to prove
management comes in. It's about meeting or surpassing your knowledge. The PMP exam is your opportunity to
customer expectations, much like a chef ensuring every demonstrate what you've learned. So, it's time to hit the
dish leaving the kitchen is exceptional. books, create a study plan, and prepare yourself for the
exam.
At Test Treasure Publication, we're here to support you
every step of the way. We provide comprehensive study
materials and helpful tips. Together, we'll ensure you
excel in the exam and pursue remarkable achievements in
your project management career. Join us, and let's turn
your aspirations into reality.

Project Management Methodologies

In the expansive world of project management, it's easy
to feel like you're wandering aimlessly in a dense forest
without a compass. At Test Treasure Publication, we
believe that knowledge is your best tool for confidently
navigating ahead.
Resources are essential fuel for your project, but you In this section, let's explore different project
need to use them wisely. Resource management involves management methodologies, shedding light on their
acquiring, developing, and utilizing resources effectively. fundamental principles, strengths, and applications. From
It's akin to being a conductor, ensuring every resource traditional waterfall methods to agile frameworks and
plays its part harmoniously. beyond, our comprehensive guide will equip you with the
Stakeholders are the people with a vested interest in essential tools to navigate the complex landscape of
your project. Keeping them satisfied is key. Stakeholder project management.
management involves identifying these individuals and
ensuring they support your project. It's like being a
diplomat, building strong relationships and maintaining
everyone's happiness.
Communication is crucial, my friend. Ensuring everyone is
on the same page is essential. Communication
management involves delivering the right message to the
right person at the right time. It's like being a skilled
translator, ensuring clarity and avoiding
misunderstandings.
Risk is ever-present, my friend, which is why managing it
is vital. Risk management entails identifying potential
threats and opportunities and devising strategies to Let's begin with step 2: Building a Foundation with the
address them. It's like being a fortune teller, anticipating Waterfall Approach. Imagine yourself near flowing
what could go wrong or right. streams as we explore this conventional methodology.
Sometimes, external resources are necessary to get Rooted in systematic and sequential processes, the
things done. That's where procurement management waterfall approach has been a cornerstone of project
comes into play. It involves acquiring goods and services management for decades. Experience the structured
from outside sources, much like going on a shopping spree framework it offers, ensuring a clear path from project
to select the best items for your project. initiation to completion.
Ethics and professional responsibility hold significant
This methodology emphasizes meticulous planning, guiding
importance in project management. It's about upholding
you through each phase step by step. By delving into the
the highest standards and doing what's right. It's like
principles of the waterfall approach, you'll understand
being a superhero, battling against shortcuts and
the precise coordination needed to complete projects
unethical practices.
successfully.
 At Test Treasure Publication, we empower you to embrace
Now, let's embrace flexibility with step 3: Embracing Agile
your personal style. Blend principles from various
Methodologies. Picture a gentle breeze guiding us through
uncharted territories as we explore this alternative methodologies to create an approach that fits your
approach. As the winds of change sweep through the project landscape. Armed with the wisdom from our
project management landscape, adaptability becomes the guide, you'll embark on future projects confidently, with a
compass steering success. holistic understanding of project management
In this section, we'll wholeheartedly embrace the methodologies and the ability to adapt and thrive in a
iterative and collaborative spirit of agile methodologies. changing world.
We'll champion self-organizing teams, regular feedback, Join us in the next chapter as we explore the intricacies of
and rapid adaptability. Through case studies and real-life project planning and initiation, where successful projects
examples, you'll see how agile methodologies empower take root, grow, and flourish.
teams to navigate today's dynamic projects' ever-
evolving requirements. Project Management Tools and Techniques
Moving on to step 4: Combining the Best of Both Worlds
with Hybrid Methodologies. As we delve deeper into 1. Work Breakdown Structure (WBS)
project management methodologies, we encounter a
harmonious fusion of structured processes and adaptive Let me introduce you to the remarkable tool in project
approaches. Hybrid methodologies offer the flexibility of management known as the Work Breakdown Structure
agile techniques while retaining the foundational (WBS). Think of it as the project's GPS, dividing it into
elements of the waterfall approach. manageable segments. Picture a skilled mapmaker
meticulously charting out tasks, subtasks, and
deliverables. Breaking down the work into smaller pieces
not only aids in planning but also ensures clear
communication and provides a comprehensive overview of
the project's complexity.

In this section, let's explore the art of balancing

structure and flexibility, blending the principles of both
methodologies to meet diverse project needs. By
immersing yourself in hybrid methodologies, you'll
discover the power to tailor project management
frameworks to specific requirements, ensuring optimal
efficiency and success.
Now, let's venture further with step 5: Exploring
Specialized Methodologies. Our exploration reaches its 2. Gantt Charts
peak as we invite you to dive into specialized project
management methodologies. From Scrum to Kanban, Six No project management toolkit is truly complete without
Sigma to Lean, this section introduces a variety of tools the incredible Gantt charts.
and techniques tailored to specific project requirements. These visual representations are like masterpieces,
Whether you're streamlining operations, improving elegantly displaying the project timeline.
quality, or managing complex software development, our As we observe the bars extending across the chart, each
guide illuminates the path to success through innovative task and dependency becomes clear.
methodologies. Equipped with a diverse repertoire of It's akin to watching a movie that narrates the project's
specialized approaches, you'll become a versatile project journey.
manager ready to tackle any challenge. And let me assure you, Gantt charts aren't just visually
Finally, let's personalize your approach in step 6: A
appealing; they're incredibly useful for monitoring
Customized Approach to Project Management. As we
progress, identifying critical paths, and managing
wrap up our journey through project management
resources efficiently.
methodologies, take a moment to reflect on the
With a simple glance, we can identify any potential
knowledge gained and chart your unique path forward.
obstacles and make informed decisions to ensure the
Remember, there's no one-size-fits-all solution in project
management. project stays on course.
 Now, let's explore project management tools and
techniques. These resources are like superpowers driving
project success. By carefully choosing and using each tool,
we unlock our projects' full potential, turning our visions
into reality. So, let's embrace these tools together.
They're the key to unlocking incredible possibilities in
project management. Let's embark on this journey armed
with our tools, vision, and dedication to excellence.
Together, we can make amazing things happen!

Project Management Processes

3. Network Diagrams
and Documentation

Next, let's talk about network diagrams. While they might

not boast the visual appeal of Gantt charts, they provide
a crucial depiction of project workflows. Envision a
intricate web, composed of nodes and arrows that
illustrate task interconnections. It's akin to connecting
dots in a manner that breathes life into the project. These
diagrams assist us in optimizing schedules, pinpointing
risks, and uncovering the critical path that ensures
project cohesion. They transform our conceptual plans
into a tangible pathway to success. Imagine yourself as the captain of a magnificent ship,
navigating through dangerous waters. Just as you guide
your crew to safety, I guide you through the intricate
world of project management. Like a captain relies on
navigational tools, project managers rely on processes
and documentation to reach success.
At Test Treasure Publication, we know how crucial these
processes and documents are. They set exceptional
project managers apart from the rest. That's why we've
created a step-by-step guide to equip you with the skills
4. Risk Management Tools to sail through project management challenges.
We start by explaining project initiation, planning,
Sure thing! Every project faces unexpected challenges, execution, monitoring and control, and closing. Each step
but project managers are prepared with tools to handle is broken down for easy understanding. It's not just about
them. We keep track of potential issues in risk registers, memorizing; it's about applying knowledge to real
use matrices to figure out which risks are most serious, situations. Our materials are designed to strengthen your
and have plans in place to respond to them. With these problem-solving skills.
tools, we can steer our projects through rough waters But project management isn't just about processes. It's
and keep them on course. also about accurate record-keeping, like a captain
documenting their journey. We'll teach you to create clear
5. Communication and Collaboration Platforms project documents, from scope statements to work
breakdown structures, using our templates and best
Let's discuss the importance of communication and practices.
teamwork in today's world. In our digital era, we have We also explore the principles driving successful projects,
various platforms to help teams connect and collaborate. like stakeholder engagement, risk assessment, and
We use project management software to stay organized, communication strategies. You'll have the tools to tackle
shared document storage for important files, and online any challenge.
communication tools to bridge distances. These platforms Moreover, project management involves leadership and
enable seamless teamwork regardless of location, people skills. We'll guide you to become an effective leader
fostering unity and ensuring everyone works towards the who inspires teams, resolves conflicts, and brings out the
same goals. best in each member.
 Join us on this journey to master project management At Test Treasure Publication, we don't see ethical project
processes and documentation. Let Test Treasure management as just a moral duty; we see it as the key to
Publication be your guide. Together, we'll unlock endless excellence. That's why our study materials are packed
opportunities and achieve extraordinary success. Are you with theory, real-life examples, and exercises to help you
ready to embark on this adventure? become an ethical leader in project management.
So, buckle up and join us on this epic adventure through
Project Management Ethics and
project management ethics. We'll face challenges,
Professional Responsibility celebrate successes, and come out as ethical superstars
in a world that needs more integrity. Let's do this!

Project Management Success Factors

Alright, team, let's get into the details of what really

makes a project succeed. First off, effective leadership is
crucial. It's not just about being the boss; it's about
inspiring and motivating the whole team while handling
the technical aspects of project management.
Imagine this: A good project manager creates a
collaborative environment where everyone feels valued
and can contribute their ideas. It's like putting together a
puzzle where everyone's strengths come together to
Alright, folks, get ready for an exciting journey into the create something amazing.
world of project management ethics. We're not just going Next up is comprehensive planning. You know the saying
to read boring textbooks; we're diving into real-life "fail to plan, plan to fail"? Well, it's true in project
stories of project managers facing tough ethical management. A project manager needs to be a master
dilemmas. planner, mapping out every detail of the project's scope,
First things first, ethical project management is all about timeline, and resources to guide the team through each
honesty, fairness, and respect. We're not just focused on stage.
delivering great results; we're also committed to doing it Communication is also key. In teamwork, open and
in an ethical, transparent, and beneficial way for transparent communication is vital. The project manager
everyone involved. We'll explore the tough decisions ensures everyone is on the same page, avoiding
misunderstandings and conflicts.
project managers face and learn about the frameworks
Now, let's talk about managing risks. Every project has its
that help us make the right choices.
risks, and a good project manager faces them head-on.
But wait, there's more! Ethics in project management is a
They analyze potential problems and create backup plans
team effort. We'll discuss how to create an ethical
to deal with surprises, staying ahead of the game and
project environment where communication and
keeping the project on track.
collaboration thrive, and everyone is held accountable.
Last but not least, stakeholder management is essential.
Leadership plays a big role too, so we'll talk about how Building strong relationships with stakeholders and
ethical leaders foster a culture of integrity and why managing their expectations ensures their needs are met
having clear expectations through a code of conduct is and they support the project's success.
crucial.
Now, let's talk about our professional responsibilities. We
owe it to our clients, organizations, and the community to
be responsible in everything we do. That means keeping
our skills up to date, respecting confidentiality, and
always being honest.
But hold on tight because things are about to get even
more interesting. We'll explore how technology,
sustainability, and diversity intersect with project
management ethics. It's all about navigating new
territory and challenging our perspectives in today's
ever-changing world.
 So, success isn't luck; it's about these factors working We'll use top-notch project management frameworks and
together like a symphony. Effective leadership, thorough methodologies like Agile, Waterfall, and Six Sigma.
planning, open communication, risk management, and Together, we'll go through the decision-making process,
stakeholder management are just some pieces of the align project goals, manage risks, and make the most of
puzzle for a winning project. Let's embrace these factors resources. And that's not all! We have some incredible
and uncover the treasure of project management case studies from various industries to spark your
excellence together. Who's ready to join me on this creativity. Get prepared to be inspired and see how
journey? project management principles can make a big difference.

Project Management Case Studies Chapter 4:

Chapter 1: Lessons from Successful Projects
Introduction to Project Management Case Studies
Alright, let's delve into some exciting success stories!
We're going to explore iconic projects such as the
construction of the Burj Khalifa and the development of
the iPhone. We'll break down these triumphs and reveal
the secrets behind their success. From engaging
stakeholders effectively to strategically allocating
resources, we'll share all the details. You'll gain valuable
insights and lessons that you can apply to any project.
Get ready to manage your projects like a pro with this
insider knowledge!

Welcome to the world of project management case

studies! Get ready, because we're diving deep into why
these studies are important for aspiring project
managers like us. We'll explore how case studies can help
us learn and improve our project management skills.
Imagine real-life situations and practical examples
guiding you through the complexities of project
management. It's going to be an eye-opening experience,
helping you develop excellent problem-solving strategies.

Chapter 2:
Unlocking the Power of Analysis

Alright, let's dive into the essential process of analyzing

project management case studies. Get ready to break it
Chapter 5:
all down! We'll explore various analytical techniques and
methods that help us dissect complex situations, identify Navigating Challenges and Overcoming Obstacles
key factors, and make informed decisions. We have some Let's face it, every project journey has its fair share of
powerful analysis tools like SWOT analysis, PESTEL challenges. That's why we need to discuss the inevitable
analysis, and stakeholder analysis. By the end, you'll know obstacles that project managers encounter. We'll analyze
how to tackle project management challenges confidently real-life case studies of project failures and give you the
and uncover opportunities others might miss. skills and knowledge to handle unexpected setbacks like a
pro. Whether it's conflict management or adapting to
Chapter 3: change, we'll cover everything. By examining the reasons
Applying Project Management Principles behind these failures, you'll gain a better understanding
of the importance of risk management, stakeholder
Alright, let's take theory and put it into action! Get ready communication, and making effective decisions. Let's
because we're going to demonstrate how to use project tackle these obstacles head-on and ensure that success
management principles in real-world situations. is within our grasp!
Chapter 6: But let's not rush into this. Step 2 is selecting the right
Embracing Innovation and Continuous Improvement certification path for you. There are plenty of options
In today's fast-paced world, us project managers must available, so you need to consider what aligns with your
welcome innovation and continuously seek improvement. career goals and interests. Ask yourself, do you have
Get ready for an exciting ride in this chapter! We'll delve experience in the field? What industry excites you? How
into mind-blowing case studies—virtual reality deep do you want to delve into project management?
simulations, artificial intelligence integrations, and more. Options like the Project Management Professional (PMP)
These stories will demonstrate how innovation can certification, Certified Associate in Project Management
transform project outcomes. Prepare to witness how (CAPM), and Agile Certified Practitioner (ACP) are just a
innovative project managers achieved remarkable few to consider.
results. It's time to think creatively, challenge the norm, If you're already seasoned in project management, the
and unleash your potential for innovation. The future is PMP certification is like the ultimate superhero cape. It's
yours to shape! globally recognized and highly esteemed. But if you're just
starting out or aiming to break into the field, the CAPM
Chapter 7:
certification lays a fantastic foundation for growth. It
Conclusion and Reflection
sets you on the right path and prepares you for future
Alright, hold onto your hats because we've come to the opportunities.
end of our journey. It's time to reflect on the incredible Once you've chosen your path, it's time to gear up and
transformation that project management case studies prepare for the certification exam. But don't worry, we've
have brought to our understanding and approach. We'll got your back. At Test Treasure Publication, we
bring together all the important lessons from each understand the importance of effective study materials.
chapter and give you practical tips for further learning Our guides, flashcards, and online resources are tailored
and application. Remember, this is just the start of your
to each certification exam. We don't just focus on theory;
journey as a lifelong learner in project management. So,
we provide real-world scenarios and practical insights
keep exploring, keep learning, and keep excelling! Now that
because project management is an art that needs
you've mastered this comprehensive guide to project
practical application. And we make your learning
management case studies, you're equipped to handle
experience engaging and inspiring, going beyond dull
real-world projects like a pro. With insights and
textbooks.
strategies from successful project managers, the sky's
the limit. Join us on this transformative journey and Now, here's the exciting part. Once you've aced that
unlock the power of project management through the certification exam and earned your stripes as a project
magic of case studies! Get ready to make waves! manager, the opportunities are boundless. Doors open in
industries like IT, construction, healthcare, finance, and
Project Management Certification more. Everyone wants a certified project manager who
and Career Path can make things happen and achieve tangible results.
Whether you aspire to lead major projects in a corporate
Hey there! Welcome to the thrilling world of project setting, establish your consulting firm, or climb the
management. Let me tell you, in today's fast-paced corporate ladder, your certification serves as the bedrock
world, project management skills are invaluable. It's all of your career growth. It's like a key unlocking a world of
about being able to plan, execute, and control projects like opportunities and embarking on thrilling adventures.
a pro. And you can gain all that expertise by earning In conclusion, the journey to project management
yourself a project management certification. certification and career advancement is life-changing. It
Now, why should you bother with a certification, you ask? won't always be easy, but with dedication, perseverance,
Well, let me tell you. Not only does it enhance your and a hunger for learning, you can attain extraordinary
professional credibility, but it also proves that you're success. At Test Treasure Publication, we're here to
support you every step of the way. Our resources are
well-versed in project management principles and
crafted to equip you with the knowledge and skills needed
practices. It sets you apart as a dedicated professional
to thrive in the dynamic world of project management.
who can lead projects to success. And believe me,
So, come join us at Test Treasure Publication. Let us guide
employers adore certified project managers who can
you as you embark on this remarkable journey. Together,
handle complex projects and deliver outstanding results
we'll redefine success and set you on the path to
on time.
greatness.
SECTION 2
 Project Planning
and Execution
Project Initiation and Stakeholder Analysis But mere identification wasn't sufficient. Once you knew
who they were, you had to engage with them.
Communication was the key to gaining their support and
trust, like having a heart-to-heart conversation with a
friend, sharing hopes, fears, and ensuring they felt
included. By doing this early on, misunderstandings could
be avoided, and concerns addressed, fostering
collaboration where everyone's voice mattered.
Stakeholder analysis was just the beginning of this epic
journey called project initiation. There were other critical
steps, like defining the project's scope, setting goals,
outlining deliverables, and creating a rough timeline and
budget. And none of this could happen without a skilled
team, akin to assembling a group of superheroes, each
with unique powers to overcome challenges.
So, fellow traveler on this journey, fear not! I pledge to be
your guide, revealing secrets, sharing practical tools, and
offering best practices to conquer this crucial phase. By
journey's end, you'll be armed with the knowledge and
resources to set your project on a solid path and navigate
Once upon a time, in the vast world of project
stakeholder management with finesse.
management, there was a journey that began at the very But remember, my friend, this isn't just a checklist. It's an
start - project initiation. It was like planting a small seed opportunity to build something great, to forge
in fertile soil, knowing that with the right care, it would connections, and mend bridges. Embrace this chapter as a
grow into the sweet fruit of success. As the project trusted companion, lighting your way to extraordinary
manager, this was where your role truly shone, for you success. Together, let's uncover the hidden treasures of
had the power to lay the foundation for greatness. project initiation and stakeholder analysis, unlocking
One of the first steps on this journey was delving into the doors to a future filled with boundless possibilities.
Welcome, brave soul, to the realm of project initiation and
world of stakeholders. They were individuals or entities
stakeholder analysis, where each step brings you closer
with a vested interest in the project's outcome, like
to the triumph you seek.
characters in a story whose influence could shape its
course. Some were insiders, like teammates and bosses,
while others were outsiders, like customers, suppliers,
and regulatory bodies. Understanding their needs,
expectations, and potential impact on the project was like
glimpsing into the future.
To unravel the secrets of these stakeholders, a
systematic approach was crucial. It began with
identifying them and then categorizing them based on
their power, interest, and potential impact. It was akin to
playing a strategic game, using tools like power-interest
grids and influence-impact matrices to chart a course for
success. This allowed you to focus your attention on the
key players who could steer the project's direction.
Project Scope and Requirements Management In the final stage, we become vigilant guardians,
monitoring and closing the project scope. We celebrate
Imagine a magnificent tapestry, woven with threads of milestones and bid farewell to the tapestry that guided
clarity, precision, and meticulous attention to detail. It's us with unwavering purpose, documenting lessons learned
like a map guiding us through the vast landscape of and reveling in victories.
project scope and requirements management. And here In the realm of project scope and requirements
at Test Treasure Publication, it's our privilege to management, Test Treasure Publication goes beyond
illuminate this path for you. traditional learning. We invite you to join us on this
Firstly, let's define and analyze the scope. It's akin to extraordinary journey, unlocking the secrets within the
embarking on an exciting quest, laying the groundwork for project's scope. Together, let's navigate the challenges of
the entire project. We thoroughly examine every aspect of requirements and scope management, where triumph
the project objectives, leaving no stone unturned. We push awaits and success is illuminated.
boundaries, setting the stage for something truly
remarkable.
Project Time and Schedule Management
Listen up, folks! At Test Treasure Publication, we
understand that project time and schedule management
is more than just ticking off tasks and meeting deadlines.
It's like a finely choreographed dance, balancing time,
resources, and scope while planning every move
meticulously. And we're here to equip you with the tools,
tips, and strategies to master this dance with time.
First things first, let's cover the basics. It all begins with
accurately estimating the time needed for each task in a
project. We'll guide you through creating realistic
schedules because let's face it, surprises and risks are
part of the game.
Now onto the good stuff! We've got a variety of scheduling
Next, we gather requirements. A project without
techniques to blow your mind. From classic Gantt charts
requirements is like a symphony without sheet music—it
to advanced methods like the critical path method and
lacks direction, coherence, and purpose. So, we delve into
program evaluation and review technique (PERT), we'll
the needs and desires of all stakeholders using various
give you everything you need to plan and manage your
techniques like interviews, workshops, and surveys to
projects with precision.
uncover what's truly essential. With each step, we honor
But it's not just about making plans and hoping for the
the collective vision at the heart of the project.
best. We'll teach you how to monitor and control project
Once requirements are collected, it's time to craft a
progress, keeping an eye on milestones, spotting
project scope statement—a concise masterpiece. We
deviations, and taking corrective actions when needed.
breathe life into the project's boundaries, aspirations,
We've got your back, and we'll even share tips on using
and limitations, outlining deliverables, constraints,
progress reports and project management software to
assumptions, and exclusions. This scope statement
make time your ally.
becomes a guiding beacon, leading the project from start
Communication is crucial, amigos! We'll delve into
to finish.
effectively communicating project timelines and
As the project progresses, we construct a work
milestones to stakeholders because managing
breakdown structure (WBS)—a magnificent framework. It
expectations and handling schedule changes isn't easy.
takes the scope statement and breaks it down into
We'll make sure you're prepared for it all.
manageable chunks, guiding teams forward. The WBS
showcases the power of structure, demonstrating that
breaking complex tasks into simpler ones is the key to
success.
But we can't simply set the scope and forget it. We must
validate and control it. Validation ensures deliverables
match requirements and stay within the project scope,
while control keeps us on track, managing change and
preventing scope creep. Together, they maintain the
project's integrity.
 But wait, there's more! Get ready for real-life case Step 5 is where we crunch the numbers, adding up
studies and scenarios to test your understanding and estimates for each task and aligning them with our
application of these principles. It's like a thrilling puzzle financial goals. We'll factor in changes, inflation, and
game with real consequences. Embrace the challenge and reserves for emergencies to create a robust budget that
become the project manager you're meant to be! ensures prudent spending throughout the project.
At Test Treasure Publication, we believe knowledge can Step 6 requires us to keep a close eye on costs, tracking
and analyzing them rigorously. Using tools like earned
change lives. Our study materials on project time and
value analysis and cost variances, we'll compare actual
schedule management are designed to help you unleash
costs to the budget to stay on track and control expenses
your potential as a project manager. Let's embark on this
effectively.
exciting journey together, navigate time's complexities,
In step 7, we focus on reporting like pros. We'll generate
and emerge as project management champions. Let's do comprehensive cost reports that provide stakeholders
this, friends! with a clear view of our financial performance, including
actual costs, earned value metrics, and variances.
Project Cost and Budget Management Transparency is crucial for effective communication and
confident decision-making.
Finally, in step 8, we conduct cost control audits to review
project costs thoroughly, identify areas for improvement,
and ensure compliance with standards. Continuous
improvement is key to refining our cost control processes
and delivering even better projects in the future.
By embracing these steps, we'll navigate the challenges
of project cost and budget management with confidence.
Together, we'll exceed expectations and deliver projects
that impress. Let's embark on this journey, tackle the
complexities, and emerge victorious in project cost and
Alright, team, let's delve into the exciting world of project budget management!
cost and budget management. It's all about laying a solid Project Quality Management
foundation for success, starting with a clear
understanding of our financial goals. We need to break
down costs—both direct and indirect, fixed and variable
—and account for contingency reserves. Think of it as
constructing a sturdy framework for our project.
Next up, step 2: crafting a killer cost management plan.
This plan will guide us through cost estimation, budget
allocation, and establishing baselines. We'll explore
various estimation techniques, from analogies to
parametric methods, and leverage reserve analysis to Welcome to the Project Quality Management chapter, my
manage budgets effectively and mitigate risks. friend! Here, we'll explore the art of ensuring that your
Step 3 involves breaking down our project into project not only meets but exceeds expectations. Prepare
manageable tasks using a work breakdown structure for a step-by-step guide that will equip you with all the
knowledge and tools needed to weave a golden thread of
(WBS). By dissecting deliverables into smaller tasks, we
quality throughout your project's journey.
can track costs more efficiently. We'll also dive into
Firstly, let's define what quality means to you. What does
estimation techniques like bottom-up and top-down perfection look like in your eyes? It's time to set clear
approaches to ensure our budget aligns with the project quality objectives, outlining the outcomes and metrics
scope. that will guide you. Ensure these objectives align with
Moving on to step 4, we focus on laying the groundwork stakeholder needs and expectations, prioritizing their
for solid cost estimation. This involves analyzing every satisfaction.
task meticulously to determine the resources needed, Once your quality objectives are set, it's time to craft a
whether it's manpower or materials. We'll employ cost robust Quality Management Plan. Think of it as a blueprint
estimating techniques like analogous and parametric guiding your team through quality control, assurance, and
improvement activities. Utilize various quality tools and
methods, along with the three-point method, to provide
techniques, customizing them to fit your project
reliable cost estimates.
seamlessly.
 Now, onto implementing quality assurance – akin to having Next up is Step 2: Resource Acquisition – Finding Diamonds
a vigilant guardian overseeing project processes to in the Forest. Here, we'll delve into various sourcing
ensure compliance with standards and best practices. Put strategies to secure the best resources within your
your Quality Management Plan into action, conducting constraints. Whether it's outsourcing, contracting, or
regular audits, inspections, and reviews. Address any internal allocation, we'll help you make informed
gaps promptly to prevent defects. decisions to maximize efficiency and minimize costs.
Despite our best efforts, issues may arise, leading us to Step 3 focuses on Resource Development – Unleashing the
control quality. This involves inspecting project Hidden Potential. It's not enough to have resources; they
need to be developed to reach their full potential. Through
deliverables and work performance to identify defects or
training, mentoring, and skill enhancement, we'll show
nonconformities. Embrace quality control tools like
you how to cultivate high-performing teams.
statistical sampling and testing to maintain high
In Step 4: Resource Management – Orchestrating the
standards.
Symphony, you'll become the conductor, providing
In the world of project management, continuous
leadership and direction to your project resources. From
improvement is essential. Monitor project performance conflict resolution to performance evaluation, we'll equip
data closely and seek feedback from stakeholders, team you with essential skills to ensure harmony among your
members, and customers. Their insights can lead to team members.
valuable process and outcome improvements. Step 5 covers Resource Monitoring and Control – Keeping
As your project concludes, take time to evaluate your Your Finger on the Pulse. In this dynamic realm, change is
adherence to quality objectives. Celebrate successes and inevitable, so it's crucial to monitor resource utilization
learn from areas needing improvement. Document these and take corrective actions when needed. We'll provide
lessons in a report to guide future projects towards strategies and tools to mitigate risks and keep your
greater success. project on track.
In the realm of Project Quality Management, we're the Finally, Step 6: Resource Optimization – Unlocking the
alchemists blending passion, precision, and dedication to Secrets of Peak Performance. Here, we'll unveil advanced
transform projects into extraordinary achievements. Let techniques to make the most efficient use of your
Test Treasure Publication be your guiding light on the resources, overcoming bottlenecks and elevating your
journey to mastering Project Quality Management and project's efficiency.
With this comprehensive guide to Project Resource
elevating your projects to new heights.
Management, you have the power to transform your
project execution. Let the wisdom from Test Treasure
Project Resource Management
Publication guide you toward success as we unlock the
potential of Project Resource Management together.

Project Communication and

Stakeholder Management
Alright, everyone, let's explore the realm of project
communication! Believe me, it's a crucial aspect. It's like
the glue that holds everything together throughout a
project's lifecycle. Without effective communication,
teams would be lost, objectives unclear, and
Welcome to the fascinating world of Project Resource
requirements chaotic. It's the magic spell that brings all
Management! I'm thrilled to accompany you on this
the project pieces into one cohesive whole.
journey as we explore the art of managing project
To truly grasp the importance of project communication,
resources. This chapter is all about strategically
let's journey back in time. Imagine the early 1900s, a
allocating and utilizing resources, which are vital for
period of rapid technological advancement and complex
project success. By the end of our adventure, you'll have a
projects. It became evident that effective communication
comprehensive guide to enhance your understanding and
was essential. Initially done through paper memos, face-
proficiency in this crucial area.
to-face meetings, and telegrams, communication evolved
Let's start with Step 1: Resource Planning – Setting the
with advancing technology, revolutionizing how teams
Stage for Success. This step lays the foundation for
collaborate and achieve goals.
successful projects by identifying and documenting the
In today's fast-paced world, communication is lightning-
necessary resources. We'll cover everything from human
fast and boundless. We have email, video conferences, and
resources to equipment and materials, providing you with
various project management tools that keep teams
the tools needed to set your project up for success.
connected globally.
 In the 1980s, the Project Management Institute (PMI) took
a monumental step by publishing the Project Management
Body of Knowledge (PMBOK). This guide offered a
comprehensive approach to project risk management,
establishing it as the industry standard. Within the PMBOK
framework, four main processes were defined: risk
identification, risk analysis, risk response planning, and
risk monitoring and control. These processes provided
project managers with a structured approach to navigate
potential challenges.
Fast forward to the 21st century, where technology and
globalization presented new risk management challenges.
Traditional approaches proved insufficient, leading to the
However, simply having access to these tools isn't adoption of Agile methodologies like Scrum and Kanban.
enough. Effective communication is an art that requires These methods prioritized collaboration and iteration,
mastery. As project managers, we must communicate enabling project teams to address risks in real time and
clearly, listen attentively to stakeholders, and build trust adapt to uncertainties effectively.
with our team members. Moreover, recent advancements in AI and machine
But communication is just the beginning. Stakeholder learning have revolutionized risk management further.
management is another crucial aspect—a delicate
These technologies empower project managers to analyze
balance of identifying, engaging, and satisfying
vast amounts of data, identify patterns, and predict risks
stakeholders' needs. Stakeholders hold the power to
before they escalate. By leveraging algorithms and
influence a project's success, so managing their
expectations is vital. We must navigate their perspectives predictive modeling, project teams can make proactive
and interests, incorporating them into the project's decisions and mitigate risks early.
direction. Looking ahead, project risk management continues to
Transparency and adaptability are the keys to success. evolve, with new techniques and tools emerging rapidly.
Transparency fosters trust and accountability, while Aspiring project managers can rely on Test Treasure
adaptability allows us to adjust our strategies as the Publication to provide the knowledge and skills needed to
project evolves. navigate this dynamic landscape.
So, fellow adventurers in project management, let's
In the upcoming chapters, we'll delve into the intricacies
embark on this journey together. We'll uncover the
of project risk management, covering everything from
secrets of effective communication, stakeholder
risk identification to developing effective response
engagement, and pave the way for extraordinary project
success. Join me, and let's elevate our project strategies. With our support, you'll be equipped to
management skills to new heights! safeguard your project's success and achieve
extraordinary results. Are you ready to join us on this
adventure?
Project Risk Management
Let's embark on a journey through the evolution of
project risk management, shall we? Back in the day, risk
was seen as an inevitable part of any project. But in the
mid-20th century, the field of systems engineering began
to emphasize systematically assessing risks to enhance
project success.
As time passed, various methodologies emerged to
address risk management. One significant development
was the Program Evaluation and Review Technique (PERT),
introduced by the United States Department of Defense in
the 1960s. PERT focused on identifying and analyzing risks
using network diagrams and critical path analysis,
particularly for complex projects in the defense sector.
SECTION 3
 Project Monitoring
and Control
Step 4: Analyzing the Data
Once we have the data, we dive into analysis to
identify any deviations from the plan. Techniques
like trend analysis and comparative analysis help
us gain insights into our performance and
whether adjustments are necessary.
Step 5: Communicating Findings to Stakeholders
Effective communication is crucial, so we present
our findings in a clear and understandable manner.
Our reports highlight successes, challenges, and
Project Performance Measurement any actions required to improve performance.

and Reporting
Welcome to the exciting realm of project management,
where success isn't just about completing tasks and
hitting milestones. It's about providing stakeholders with
a clear view of the project's progress, guiding them on
whether it's on track or needs adjustments.
At Test Treasure Publication, we recognize the importance
of measuring and reporting project performance. It's not
merely a checkbox for the PMP exam; it's about
understanding the processes, tools, and techniques that
make performance measurement and reporting effective.
Let's embark on a thrilling journey through the
complexities of project performance measurement and
reporting. We'll guide you through each step, ensuring Step 6: Taking Corrective Action
accuracy, transparency, and accountability along the way.
Armed with insights from our performance report, we
Step 1: Establishing Clear Goals and Metrics
take action to address any issues. This might involve
The cornerstone of performance measurement and
adjusting the project plan, reallocating resources, or
reporting is defining clear objectives and metrics. As
revisiting risk plans to ensure we're back on track.
project managers, we align ourselves with project goals
and select metrics that indicate whether we're Step 7: Continuous Monitoring and Control
progressing in the right direction.
Performance measurement and reporting are ongoing
Step 2: Selecting Appropriate Measurement Tools processes. We stay vigilant, monitoring performance
With goals and metrics in place, it's time to choose the regularly and making necessary adjustments to ensure
right tools for measurement. Techniques like Earned Value continued success. Regular reporting keeps stakeholders
Analysis, Key Performance Indicators (KPIs), trend informed and helps us address issues promptly.
analysis, variance analysis, and milestone tracking come By following these steps, we can master the art of
into play based on the project's needs. performance measurement and reporting, equipping
Step 3: Gathering Reliable Data ourselves with the skills to excel in project management.
Accurate measurement and reporting rely on At Test Treasure Publication, we're committed to
trustworthy data. It's our responsibility to collect and providing comprehensive guidance on this journey to
validate data from various sources, including the project extraordinary success. Join us as we uncover the secrets
team, vendors, stakeholders, and data analytics tools. to mastering project performance!
 Project Change Management Step 6: Evaluating the Impact
We've weathered the storm, but our journey isn't over yet.
It's time to evaluate how the change has affected our
project's performance. Did we meet our goals? Did our
change management strategies prove effective? And
most importantly, how can we improve next time?
Learning from our experiences is crucial for continuous
growth.
Step 7: Documenting the Voyage
Last but not least, it's time to document our journey. We
need to capture the lessons learned, the obstacles
overcome, and the victories achieved. By doing so, we
create a repository of knowledge that future projects can
benefit from. It's all about fostering continuous
Step 1: Time to Start the Change Engine improvement and mastery in change management.
We're gearing up to explore the fascinating realm of
Project Change Management. And guess what? It all kicks As you embark on your journey into the dynamic realm of
off with initiating the change itself. We need to pinpoint Project Change Management, remember that adeptly
why change is necessary and fully grasp its potential adapting to change and managing it effectively will set
impact on our project. That means scrutinizing every you apart. Mastering these seven steps will transform
aspect - from scope and schedule to budget - to get a you into a change management guru, guiding teams
clear understanding of what's ahead. through the twists and turns of change toward success.
Let's dive in together and let the transformative power
Step 2: Let's Craft a Plan
of Project Change Management propel us to new heights!
Now that we've set the wheels of change in motion, it's
time to craft a solid Change Management Plan. This plan Project Quality Control and Assurance
will be our guiding light for navigating the change journey.
It'll contain all the crucial details - a comprehensive Project Quality Control
description of the change, our objectives, potential risks,
communication strategies, and responsibilities. It's our
trusty roadmap through this adventure.
Step 3: Assessing the Impact
Managing project change means carefully assessing its
impact on every front. We need to delve deep and analyze
how it'll affect scope, schedule, budget, resources - the
whole enchilada. Once we've grasped the potential
repercussions, we can strategize to ensure a smooth Welcome, everyone, to this chapter dedicated to project
transition. quality control. Let me tell you, it's an absolute game-
Step 4: Let's Communicate changer when it comes to ensuring top-notch
It's time to open up those channels of communication! deliverables. Quality control serves as the backbone of
Successful project change management hinges on any successful project, as it's the process that helps us
engaging everyone involved. We must ensure they grasp identify and rectify any issues or deficiencies that could
the reasons behind the change, its benefits, and the impact the final outcome.
associated risks and rewards. By fostering transparency So, let's delve into the intricacies of quality control. We'll
and fostering dialogue, we'll make the transition explore various techniques, tools, and methodologies that
smoother for all. leave no stone unturned in our pursuit of perfection. From
Step 5: Time to Take Action performance measurement to meticulous data analysis,
Now comes the exciting part - execution! We need to put we're on a mission to elevate the quality of our project. By
our plan into action, ensure everyone knows their role, familiarizing ourselves with the principles and best
and closely monitor progress. Teamwork, vigilance, and practices of quality control, we equip ourselves with the
swift problem-solving are key as we navigate through knowledge to establish a robust system that mitigates
challenges together. We've got this! defects and deviations.
 Now, let's delve into the intriguing realm of challenges Last but not least, we'll explore ongoing monitoring and
that may arise during quality control and how we can evaluation. Quality assurance is a continuous process, not
address them effectively. Risk management becomes a one-time event. We need to stay vigilant, constantly
paramount in this context. We must identify potential adapting and improving. We'll discuss techniques for
threats to quality and develop strategies to mitigate
monitoring and evaluating our project's quality, including
them. Rest assured, we'll draw insights from real-life
feedback loops, audits, and inspections. By staying
examples and case studies, ensuring that our discussions
vigilant, we ensure that any deviations are identified and
are grounded in practical experience. We're committed to
achieving success, and we're prepared to tackle any addressed promptly.
obstacles that come our way. In summary, quality control and assurance are crucial
components of any successful project. By mastering the
Project Quality Assurance techniques and strategies outlined in this chapter, you'll
Alright, let's shift our focus to quality assurance, folks. be well-equipped to tackle the challenges of quality
This is all about being proactive to prevent defects and management like a seasoned pro. So, join us on this
deviations from cropping up in our project. We'll delve into journey where innovation, collaboration, and dedication
the strategies and techniques that ensure quality is converge to produce extraordinary results. Get ready to
ingrained in every aspect of what we do. elevate your projects to new heights!

Project Risk Monitoring and Control

Welcome to the realm where risks transform into
opportunities, uncertainties are managed, and projects
are propelled towards success. In this chapter, we delve
into the captivating world of Project Risk Monitoring and
Control. Here, we provide you with the tools and insights
necessary to effectively oversee and mitigate risks that
could otherwise hinder your project's advancement.
Step 1: Spotting Risks
First and foremost, we need a solid quality management
system. This serves as the foundation of our quality Armed with our reliable compass, we embark on the first
assurance efforts. By establishing standardized step of risk management: identifying potential obstacles
processes, procedures, and practices, we create a lurking ahead. We meticulously examine every aspect of
framework that fosters consistency and excellence. We'll our project, leaving no area unexplored. Every task,
explore how to implement this system effectively, process, and stakeholder is carefully scrutinized for any
drawing insights from organizations that have excelled in factors that could lead us into uncertain territory. Our
this area. seasoned guides lead the expedition, ensuring that no
But that's not all! Quality assurance must be integrated hidden risks evade our detection, no matter how cunning
into our project planning right from the start. Quality they may try to be.
should be a primary consideration from day one. We'll
discuss techniques and tools for setting quality
objectives, defining metrics, and charting a course to
achieve our quality targets. By embedding quality into
every decision and action, we set ourselves up for
success.
Now, let's talk about leadership. Effective leadership is
essential for quality assurance. Inspirational leaders
motivate everyone on the team to strive for excellence.
We'll examine the qualities of transformative leaders and
see how they've transformed their organizations into
bastions of quality assurance.
Step 3: Creating Risk Response Strategies Here at Test Treasure Publication, we guide you on an
exceptional journey through project risk management.
With risks exposed, we engage our imaginative thinking. We Our meticulously crafted study materials provide you with
develop inventive strategies to tackle and reduce these the skills and knowledge necessary for success. Join us as
risks. Using a variety of response techniques such as we navigate the complex terrain of Project Risk
avoidance, transference, mitigation, and acceptance, we
Monitoring and Control, uncovering hidden treasures and
craft a tailored plan to confront each risk's negative
transforming risks into stepping stones toward
impact. Through thorough planning and teamwork, we
extraordinary achievements.
build a strong defense, shielding our project from the
Join us on this journey and become a true master of
relentless threats of uncertainty.
project risk management. Together, we will rise above the
ordinary and embrace the extraordinary possibilities that
lie ahead.

Project Procurement and

Contract Management
Let's dive into the world of project procurement and
contract management, but first, let's get familiar with
the terminology. Procurement involves obtaining goods,
services, or works from external sources, often referred
to as suppliers or vendors. Contracts are legal documents
Step 4: Putting Risk Response Strategies into Action
that formalize agreements between parties involved in a
In the vast landscape of project management, taking
project, outlining their rights, obligations, and other
action is crucial. In this phase, we put our plans into
details. Contract management encompasses various
action by implementing the risk response strategies
activities aimed at ensuring contracts are adhered to,
we've carefully developed. We monitor the progress of
including negotiation, issue resolution, and performance
each risk closely, ensuring that our actions are effectively
monitoring, to ensure successful project completion.
reducing their negative effects. We explore the details of
risk ownership and accountability, giving you the tools to Now that we've covered the basics, let's delve deeper
navigate the intricate process of implementing risk into the specifics. Project managers need to grasp these
response strategies skillfully. concepts to make informed decisions regarding resource
allocation, risk management, and accountability.
Step 5: Monitoring and Controlling Risks
Procurement planning is the initial step, involving analysis
As we continue our journey, we enter the phase of of project needs, risk assessment, and strategizing to
continuous monitoring and control. Here, we breathe life acquire resources efficiently.
into our project risk management plan. We implement Next, solicitation and bid evaluation come into play, where
tracking systems, key performance indicators, and managers seek quotes or proposals from potential
thresholds to evaluate how well our risk responses are suppliers and carefully assess them for suitability.
working. By staying vigilant about our project's risks, we Contract negotiation follows, where terms and conditions
catch warning signs and deviations early, allowing us to are discussed to find mutually beneficial agreements.
adjust our course and response strategies swiftly. It's in Once contracts are signed, contract administration and
this phase that we demonstrate true expertise, skillfully performance monitoring begin. Managers closely monitor
navigating the unpredictable waters of uncertainty.
suppliers to ensure compliance and address any issues
Step 6: Communicating and Reporting Risks
promptly to maintain project progress.
The success of a project doesn't just depend on us alone Finally, contract closeout involves wrapping up loose
but also on the collaboration and understanding of our ends, ensuring all obligations are met, and reflecting on
stakeholders. In this final step, we become adept the procurement process for future improvement.
communicators, crafting stories that resonate with our
Mastering project procurement and contract
audience. Through clear and concise reporting, we share
management is essential for project success. Through
insights and knowledge, empowering stakeholders to
systematic and diligent management of procurement
make informed decisions and take appropriate actions. We
processes, managers can establish strong supplier
build trust and confidence, turning uncertainties into
relationships and ensure smooth project execution.
opportunities for growth and innovation.
Project Closure and Lessons Learned Project Integration and Governance

Step 1:
Establishing Project Objectives
Get ready, because we're diving into the exciting realm of
project integration and governance. It begins with
establishing precise objectives for our project. These
objectives are the sturdy pillars supporting our entire
endeavor. Throughout this guide, we'll provide you with
the necessary insights and tools to craft objectives that
align not only with our organization's overarching goals
but also with a clear vision for success.

Step 2:
Developing a Project Charter
1. As we wrap up this project, it's time for a thorough
evaluation. We'll scrutinize our objectives, review every With our objectives established, the next step is to
deliverable, and ensure we've met all requirements. This develop a project charter. This document acts as a
is where we distinguish success from shortcomings. comprehensive guide, detailing all aspects of the project
2. Before we conclude, let's celebrate our victories. Each such as scope, deliverables, timelines, resources, and
team member's effort contributed to our success, and stakeholder expectations. Our guide will provide you with
they deserve recognition. Let's acknowledge our expert advice and practical tips to create an exceptional
achievements together and feel motivated for the future. project charter. It not only directs the project's course
3. Now, let's communicate the project's completion clearly but also serves as a shared reference point for all
to all stakeholders. We'll provide a straightforward involved parties.
update on our outcomes and any necessary follow-up Step 3:
actions to avoid confusion. Creating a Project Management Plan
4. Documenting every lesson learned from this project is Now that our project charter is in place, it's time to focus
crucial. We'll compile a detailed record of successes, on creating a strong project management plan. This plan
challenges, and strategies employed. This knowledge will serves as our roadmap, outlining the strategies, methods,
guide future projects and aid decision-making. and processes we'll utilize to reach our project objectives.
5. It's time for reflection. We'll assess the project's impact At Test Treasure Publication, we understand the
and determine if we achieved our goals. A post- significance of a meticulously crafted project
implementation review will identify areas for management plan, and our guide delves into its details.
improvement and ensure accountability. From establishing project milestones to determining
6. Wrapping up loose ends is essential. We'll complete effective communication methods and risk management
paperwork, archive project records, and finalize strategies, our comprehensive resources have you
financials for future reference and compliance. covered.
7. Gathering stakeholder feedback is key. We'll seek input Step 4:
from clients, team members, and leaders to improve Integrating Project Components
project management practices. As our project progresses, it becomes essential to
8. Before we conclude, let's celebrate our journey. Despite seamlessly integrate all its various components. Our
challenges, we've grown personally and professionally. guide provides a comprehensive understanding of this
Let's view this project as an opportunity for growth and integration process. We'll walk you through identifying
reflection. dependencies and interdependencies, as well as devising
With these insights, you're prepared to tackle future strategies to address potential obstacles. Additionally,
projects with confidence. Embrace the final chapter of we'll highlight the significance of effective teamwork and
your project management journey and strive for collaboration because, in reality, a cohesive project
extraordinary success. environment can significantly impact outcomes.
Step 5: Governance and Control Project Management Professional
In the realm of project integration and governance, (PMP) Exam Preparation
effective governance and control mechanisms are
paramount. Our detailed guide will introduce you to the
fundamental principles and practices of project
governance, emphasizing the importance of
accountability, transparency, and responsibility. We'll
delve into the role of project managers in ensuring
adherence to established rules, managing any emerging
changes, and maintaining overall project oversight.
Step 6: Monitoring and Controlling the Project
It's time to keep a vigilant watch over our project to
prevent any deviations from the plan. Continuous
monitoring and control will be our trusted allies in this
endeavor. Our comprehensive resources will educate you
on project monitoring and control, providing you with the
tools and knowledge to identify deviations and implement
corrective measures effectively. Whether through regular
So, you're gearing up for the PMP exam? Strap in, because
status meetings or advanced project tracking tools, our
we've got some serious prep ahead. Here at Test Treasure
guide will empower you to manage and control your
Publication, we're all about arming you with the
projects like a seasoned professional.
knowledge you need to ace any challenge. With the right
Step 7: Closing the Project info, you'll be unstoppable.
First off, let's break down the PMP exam. We'll lay out all
Here we are, at the culmination of our project integration
the details—from question numbers to time limits—so
and governance journey—the final act. It's time to wrap
you can plan your study schedule like a champ.
things up elegantly. Our guide will walk you through the
Next, let's talk about the PMBOK Guide. This is your PMP
project closure process, emphasizing the importance of
exam bible, and you'll need to know it inside out. But don't
thorough project reviews and extracting valuable lessons
worry, we've distilled all the key concepts, processes, and
learned. And let's not forget to celebrate the
techniques into easy-to-understand guides packed with
achievements and acknowledge the team's contributions.
real-world examples.
Additionally, we'll cover the seamless transition of
Project management has many moving parts, each with
project deliverables back into the organization.
its own best practices. Our study guides, crafted by
industry experts, break down each area—from scope to
risk management—giving you the essentials and killer
tips for success.
Agile methodologies are hot right now, and they're part
of the PMP exam too. We've seamlessly integrated agile
into our study materials, so you'll be ready to tackle those
questions like a pro.
Practice is key. Our treasure trove of practice questions
mirrors the real exam, and our online platform offers
interactive quizzes and simulated exams for the ultimate
At Test Treasure Publication, we view project integration prep experience.
and governance as more than just a mundane process. We Collaboration is powerful. Join our online community to
see it as an art form that empowers individuals to connect with PMP aspirants worldwide, share insights,
transform their projects into remarkable and learn from each other.
accomplishments. With our comprehensive step-by-step Finally, we'll fine-tune your exam strategy. Our guides are
guide at your disposal, you'll possess the knowledge and packed with tips to help you manage time, tackle tough
skills to navigate this terrain with confidence and finesse. questions, and stay focused.
Join us on this extraordinary journey towards success in With our study materials and community support, you're
project integration and governance—a journey that ready to conquer the PMP exam and redefine success.
transcends ordinary learning experiences. Let's make your aspirations a reality together.
STUDY SCHEDULES
AND PLANNING
 Getting ready for the Project Management Professional Weeks 5-6:
(PMP) Exam is no walk in the park—it takes careful Shift your focus to stakeholder management, take
planning and organization. Below, you'll find study the first practice test, and identify any weak areas
schedules and planning tips designed to maximize your for review.
time, whether you have months or just a few weeks to get Final 2 Weeks:
ready. Take the second practice test to assess your
progress, thoroughly review all sections, and boost
your confidence for exam day.
Advice:
Dedicate time to daily study sessions, use flashcards
to reinforce key concepts, and consider seeking
mentorship or coaching if you encounter challenges.

Short-Term Schedule (1 Month)

Week 1:
Begin by exploring foundational elements, the project
operating environment, and all sections of project
management.
Week 2:
Long-Term Schedule (3-4 Months) Take your first practice test, review your
performance, and pinpoint any weak areas.
Weeks 1-2: Week 3:
Begin by familiarizing yourself with the basic Address weak areas identified, take the second
concepts, the project environment, and the project practice test, and continue your review.
manager's role.
Weeks 3-4: Final Week:
Deep dive into project integration, scope, and Review all sections, paying close attention to key
schedule management. concepts, formulas, and strategies.
Weeks 5-6: Advice:
Explore project cost, quality, and resource Stick to a consistent daily schedule, use concise
management.
review materials, and maintain a balanced approach
Weeks 7-8:
Focus on project communications, risk, procurement, to prevent burnout.
and stakeholder management.
Weeks 9-10: Advice on Planning
Review all sections thoroughly and take the first full-
length practice test. Know Your Learning Style:
Weeks 11-12: Customize your study plan based on how you learn
Analyze your performance on the practice test and best, whether it's through seeing or hearing
revisit any weak areas. information.
Final Month: Stay on Track:
Take the second practice test, review your materials,
Stick to your study schedule but be open to making
and refine your preparation.
Advice: changes if necessary.
Set weekly goals, practice with short quizzes Track Your Progress:
regularly, and participate in online forums or study Check in regularly to see how you're doing and tweak
groups for additional support from peers. your plan as needed.
Maintain Balance:
Mid-Term Schedule (2 Months) Make sure to carve out time for relaxation and other
Weeks 1-2: commitments alongside your studying.
Begin by getting acquainted with foundational Get Help When Needed:
elements and the project operating environment. Don't be afraid to ask instructors, mentors, or study
Then, delve into integration, scope, and schedule groups for assistance.
management.
Prepare for Exam Day:
Weeks 3-4:
Explore project cost, quality, resource, Familiarize yourself with the exam center's location,
communications, risk, and procurement management what documents you need to bring, and the logistics
in detail. for the day of the exam.
PMP EXAM
OVERVIEW
An Examination Overview
The Exam
The Project Management Professional (PMP) Exam is a
widely respected certification offered by the Project
Management Institute (PMI). It's considered a benchmark
for project management experts and is highly valued in
the industry. This certification underscores the
importance of applying project management principles,
methods, tools, and skills.
Global Recognition:
With worldwide recognition, PMP certification breaks
geographical barriers, connecting you to a diverse
network of professionals internationally.
Skill Improvement:
Preparation for the PMP exam hones your project
management skills across various areas, including
planning, execution, monitoring, and project closure.
Alignment with Industry Standards:
PMP certification ensures that you are aligned with
the latest industry standards and best practices
outlined in the PMBOK guide.
Enhanced Project Success:
Organizations employing PMP-certified professionals
Exam Pattern tend to have a higher success rate in project
execution, contributing to overall project success.
Number of Questions: Personal Growth:
The PMP Exam comprises 180 questions. The rigorous preparation process for the PMP exam
Question Types: fosters personal development, building confidence
Questions include multiple-choice, multiple and enhancing problem-solving abilities.
responses, matching, hotspot, and limited fill-in-the-
blank formats.
Time Limit:
Candidates have 230 minutes (approximately 3 hours
and 50 minutes) to finish the exam.
Scoring:
The passing score is determined through
psychometric analysis and may vary. PMI does not
disclose the exact passing score.
Exam Sections:
The exam covers three main domains:
People: 42% of the exam Conclusion
Process: 50% of the exam
Business Environment: 8% of the exam The Project Management Professional (PMP) Exam goes
beyond being a simple test; it symbolizes a professional's
Significance of the PMP Certification dedication to excellence. It's a challenging evaluation that
Professional Recognition: requires thorough comprehension, ongoing education, and
Achieving PMP certification elevates your status the skill to implement project management principles in
within the industry, earning respect from both intricate real-life situations.
employers and peers. Embarking on the PMP certification journey means more
Career Advancement: than just obtaining a credential; it means associating
PMP certification can lead to better job opportunities, yourself with a universally acknowledged benchmark of
higher salaries, and access to more significant achievement, poised to elevate your career to greater
projects, fostering career growth. levels