Study Notes for PMP exam
This section is under development. Notes are listed in random order.
Three Point Estimating
- Three-point estimating incorporates a form of risk assessment.
Monte Carlo Technique
- Monte-Carlo technique is not used for estimations. It is a schedule development technique.
Activity Duration Estimation
Duration of an activity is calculated by using the formula:
Estimation duration = EF - ES + 1
Project Charter and the Project Scope Statement
Although the project charter and the project scope statement are sometimes perceived as containing a certain degree of redundancy, they are different in the level of detail contained in each. The project charter contains high-level information, while the project scope statement contains a detailed description of the scope components, which are progressively elaborated throughout the project.
Pg 154, PMBOK Guide, 6th Edition
Requirements Traceability Matrix
- In the Requirements Traceability Matrix, each requirement is mapped to project objectives.
Affinity Diagrams are useful for quickly transforming a large number of divergent ideas into a handful of clearly defined themes. You do it by looking for commonality, or affinity between the ideas, and then grouping them together.
- RACI rule - there should be only 1 personal accountable.
SIPOC (Suppliers, Inputs, Process, Output, and Customers)
The goal of a SIPOC is to map the flow of money, material, or information from a supplier through some process and out to one or more customers. In other words, a SIPOC helps you look at a process like a supply chain.
What you receive from your suppliers in a process are inputs. What you deliver to your customers are outputs. A SIPOC can help a team understand and explain what is truly involved in making an end-to-end process work properly.
- Captures multiple viewpoints
- Provides transparency
Project Management Best Practices
- Begin with a clear, written definition of the project.
- Plan who, what, when, where and why BEFORE you start work on the project.
Meeting Management Techniques
The nominal group technique is helpful for any group with very vocal or timid team members. It also can be used when the topic is very political or involves highly charged emotion, because it allows expression of thought without threat of criticism.
Refer to post: https://www.pmi.org/learning/library/four-techniques-facilitate-project-meetings-7249
What is the main cause of errors according to Lean?
Lack of management oversight
What is the main purpose of Lean?
Eliminate waste / reduce defects
Lean vs Six Sigma
Lean practitioners believe that waste comes from unnecessary steps in the production process that do not add value to the finished product, while Six Sigma proponents assert that waste results from variation within the process. Source: http://www.villanovau.com/resources/six-sigma/six-sigma-vs-lean-six-sigma/#.VpFHAvl96t8
The primary focus of the Six Sigma process improvement methodology, also known as DMAIC (Define, Measure, Analyze, Improve, and Control), is to reduce defects that are defined by the customer of the process. Lean focuses on reducing waste.
Good article on business acumen:
Lessons Learned Management Techniques
The above video is only available to PMI members.
Types of Schedule
- Gantt or Bar Chart
- Milestone or Event Chart
- Logic / Network Diagram
Organizational Theories for PMP
You need to be familiar with the following organizational theories:
- McClelland’s theory
- Herzberg’s theory