PMP Exam Prep- PMBOK 6th Edition

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Project Management Professional (PMP) (Based on PMBOK 6th Edition) 2018 Exam Preparation Training Course www.ReadytoTrainMaterials.com

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Our collection of business training courses – enhanced with beautiful graphics, photos, videos and animation – instantly gives you the quickest and easiest way to make your training sessions look incredible. You can be confident we’ll have exactly what you need when you need it, 24/7, for every training need, topic, occasion and goal. Ready to Train for Training Materials

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Established in 1969 and headquartered outside Philadelphia, Pennsylvania USA ,the Project Management Institute (PMI) is the world’s leading for project management professional association with 500,082 Project Management Professionals (PMP). Project Management Institute

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PMI membership fee $129/Year PMP exam fee for members $405 PMP exam fee for non-members $555

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A widely recognized credential – currently the most sought after certification in the world. Certification has created a world-wide consistency for project terms, processes and standards. Benefits of PMP Certification

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Is it worth to be PMP Certified? Salary: The PMP certification has a positive effect on the Project Manager’s salary. Market Demand: The demand for the PMP is big, and it’s growing every day, and there is no sign that this demand will lessen in time. In fact the demand has actually increased even with the 2008-2009 recession. Prestige and Recognition: it is a prestigious certification, with difficult eligibility criteria, a hard test, as well as requiring constant maintenance (e.g. acquiring PDUs). The PMP certification is highly regarded both in the United States and internationally. Increased Project Management Knowledge: Studying for the PMP will help the applicant learn new Project Management concepts, or understand concepts better. 7

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8 # of Questions % of Domain Domains 23 13% Initiating 42 24% Planning 53 31% Executing 43 25% Monitoring and controlling 14 7% Closing 175 Total number of scored questions 25 Total number of unscored questions 200 Total number of questions The Exam Consists Of 5 Basic Domains

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Educational Background PM Experience PM Education High School Diploma Associate’s Degree or Global Equivalent 60+ Months 7,500+ Hours 35 Contact Hours Educational Background PM Experience PM Education Bachelor’s Degree or Global Equivalent 36+ Months 4,500+ Hours 35 Contact Hours PMP Certification Eligibility Requirements

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Months must not overlap Hours may overlap The experience in project during last 8 years PMP Certification Eligibility Requirements

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Is recognized standard of project management knowledge. Provides guidelines, rules and characteristics for project management. Project Management Body of Knowledge (PMBOK) This standard is widely accepted and when consistently applied help you, your global peers and your organization to achieve professional excellence.

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Chapter One Introduction

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What is a Project?

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Temporary Endeavor With a beginning and an end date Not an on-going effort A unique, product, service, or result What is a Project?

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What is a Project? A unique service or a capability to perform a service (e.g., a business function that supports or distribution) A unique product that can be either a component of another item, an enhancement or correction to an item, or a new end item in itself (e.g., the correction of a defect in an end item)

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Projects Drive Change Projects drive change in organizations. From a business perspective, a project is aimed at moving an organization from one state to another state in order to achieve a specific objective

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Goodwill Brand recognition Public benefit Trademarks Strategic alignment Reputation Projects Enable Business Value Creation value is the net quantifiable benefit derived from a business endeavor. The benefit may be tangible, intangible, or both . Monetary assets Stockholder equity Utility Fixtures Tools Market share Examples of tangible elements include Examples of intangible elements include

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Project Initiation Context Project Satisfy stakeholder requests or needs Create, Improve or fix products, processes or services Meet Regulatory, local or social requirements Implement or change business or technological strategies

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Importance of Project Management

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The Importance of Project Management

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Example: The Website Creation Project Consider a project authorized by a firm to create an intranet website that would display its employee related information. The outcome of the project is the website, and the duration will depend on the complexity and size of the work involved. The project will come to an end when the website is posted on the server and is ready for use by appropriate users.

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One of the major petrochemical companies has set up a new refinery to meet its increasing market demand. The company plans to break-even in three years by achieving the desired volume of output from its new plant. Once the new plant is set up, the operations to be carried out in the new branch include daily production, routine maintenance of the plant, wages and salary credits to employees, purchase of raw materials, grievance handling, logistics, and supply of finished products to the market. Example: Operations in a Petrochemical Industry

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Relationship of Project, Program, Portfolio, and Operations Management Program and project management focus doing programs and projects the “right” way; and Portfolio management focuses doing the “right” programs.

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A program is defined as a group of related projects, subprograms, and program activities managed in a coordinated way to obtain benefits not available from managing them individually. Project may or may not be part of a program but a program will always have projects Project within a program are related through the common outcome or collective capability. A portfolio refers to projects, programs, sub portfolios, and operations managed as a group to achieve strategic objectives, The projects or programs of the portfolio may not necessarily be interdependent or directly related. Programs and Portfolio

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Portfolios Programs and Projects Portfolio management aligns portfolios with organizational strategies by selecting the right programs or projects, prioritizing the work, and providing the needed resources. Program management harmonizes its program components and controls interdependencies in order to realize specified benefits. Project management enables the achievement of organizational goals and objectives

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Project Life Cycle

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Project Life Cycle Initiation Conclusion Handoff Handoff Handoff Gates Gates Gates Deliverables Deliverables Deliverables

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Project Life Cycle Construction

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Project Life Cycle Project phases differ from project to another IT Project

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A project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables. The phases in a life cycle can be described by a variety of attributes. Project Life Cycle

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From chapters two-Nine are hidden

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Questions Samples

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Exercise Q1. The estimate for a task is O = 3 days, P = 7 days, M = 4 days. What is the standard deviation of the task? A. 5/6 of a day. B. 2/3 of a day. C. 1 ½ days. D. 5 2/3 days.

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Exercise Q1. The estimate for a task is O = 3 days, P = 7 days, M = 4 days. What is the standard deviation of the task? A. 5/6 of a day. B. 2/3 of a day. C. 1 ½ days. D. 5 2/3 days. Solution: SD = (P-O)/6 = (7-3)/6 = 2/3

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Exercise Q2. You are the project manager for a new project and have figured out the following dependencies: Task 1 can start immediately and has an estimated duration of 3 weeks Task 2 can start after Task1 is completed and has an estimated duration of 3 weeks Task 3 can start after Task 1 is completed and has an estimated duration of 6 weeks Task 4 can start after Task 2 is completed and has an estimated duration of 8 weeks Task 5 can start after task 4 is completed and after Task 3 is completed . This task takes 4 weeks. What is the duration of the critical path? A. 18.5 weeks -B. 19 weeks -C. 20 weeks -D. 18 weeks

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Exercise Q3. A project has three critical paths. Which of the following BEST describes how this affects the project? A. It makes it easier to manage. B. It increases the project risk. C. It requires more people. D. It makes it more expensive.

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Exercise Q4. You are taking over a project and determine the following: Task B has an early finish of day 3, a late finish of day 6, and an early start of day 2. Task L is being done by a hard-to-get resource. The CPI is 1.1 and the SPI is 0.8. Based on the information above, what would you be most concerned about? A. Float. B. Resources. C. Cost. D. Schedule.

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Exercise You are the project manager for a project with the following network diagram. Studying the diagram, which path is the critical path? A. ABCD B. EBCD C. EFH D. EGH

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Exercise You are the project manager for a project with the following network diagram. Studying the diagram, which path is the critical path? ✓ B is the critical path because EBCD is the longest path to completion at 18 days.®˚ A, C, and D are incorrect because these paths have float. For more information,

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