I passed my PMP exam over 2 years back but was helping out a colleague recently and came across some tips I had noted down while preparing for the exam. Just wanted to share these with those who may be preparing for the exam. Please be aware that some of these may have changed recently so please do your research.
Content related:
1. After you create scope statement, you get initial team and then create WBS
2. Team members decide on technical issues. PM facilitates and resolves conflicts
3. If a team member identifies a new risk, he has to report it to PM. He does not update the risk register
4. Communication channel calculations - Count all resources listed unless explicitly specified to exclude
5. Formal written communication for all contract issues
6. Portfolio management usually involves unrelated projects. If the projects seem related, choose program management
7. Scheduling tool is an example of PMIS
8. Difference between QA and QC. QA happens before deliverable is ready and checks for compliance to QA processes. QC happens after deliverable is ready and identifies defects. Once QC is passed deliverable can go to customer for validation.
9. NPV already includes year calculation. Just pick the biggest number.
10. “Padding” means Critical chain method.
11. Padding is unethical and should not be used. “Time reserves” can be added as schedule buffers.
12. RBS helps in managing cost
13. WBS serves as a team development tool
14. Cumulative planned value is also considered PMB
15. Bottom up estimating is most accurate
16. Summary activities are also called hammock activities.
General Tips:
1. Make sure you are able to do the brain dump of formulas and processes in 10 minutes. Add Quality theories, if time permits.
2. Identify the questions that you are pretty sure but just want another look if time permits on your practice sheet. Do not mark them online.
3. Most inputs and outputs are nouns or artifacts. Tools and techniques are verbs/ actions.
How to remember:
1. Meeting types – BID (Brainstorming, Information exchange, Decision making)
2. Stakeholder Register – CIA (Classification, Identification, Assessment)
