I passed my PMP exam on 20'Oct 2010. Here I am going to share my lessons learned:

My journey to PMP started in June this year when I purchased the PM Prepcast to get 35 contact hours and my approach was that I used to study a chapter from PMBOK guide, then watch its corresponding prepcast videos. I must say that Mr Cornelius Fitchner has put up a great effort in preparing the lectures. The episodes on Applied Concepts are truly wonderful. It took me about 2 months to complete this phase since I was doing it alongside my job. I also purchased the PMP Formula Study Guide from Prepcast and that was very helpful too. I kept its Pocket guide with me most of the time and I was able to learn all the formulas very easily.

Then I started reading Rita Mulcahy's PMP Exam Prep book and this is a nice book to understand PMP concepts. Though questions at the end of each chapter are a bit difficult but it really opens up your thought process and the way Rita has explained each and every answer it guides you on the approach that must be taken while answering the actual exam questions. Afterwards I read PMBOK again and then I focussed on practice questions that are available on internet for free.

PMP exam is not too tough. But it really checks the project management skills. In my exam there were no lengthy questions, most of them were clear in what was being asked, the questions requiring calculator were not complex at all. Lots of questions were on ITTOs but it doesn't require memorization to answer. One must study PMBOK guide atleast twice and should have clear understanding of terms like contract types, risk response strategies, quality tools and techniques etc. Regarding ITTOs, you should just try to understand and read ITTO for each knowledge area time and again, must follow the data flow diagrams against each of the 43 processes. I tried lot of practice questions which helped me alot in the actual PMP exam. Prepcast, pmsutdy, Headfirst and Rita's questions are very good to practice. Oliver Lehmann's questions are somewhat tough in my opinion. In the PMP exam, you may see a continuous flow of tricky questions in the exam. Don't panic as you will come across some very easy questions in good number too. Finally, sleep well before the test day. Exam requires a sheer concentration for 4 hours so must be fresh and relaxed when you sit in the exam. Good luck!