Lessons learned towards becoming a Project Management Professional (PMP)® shared to us by PM PrepCast student Jada Garrett, PMP.
"I have to say this was the hardest exam I have ever taken. I read A Guide to the Project Management Body of Knowledge (PMBOK® Guide) and Rita, chapter by chapter. Once I completed these once, I added the PrepCast series onto my routine and went back through PMBOK® Guide and Rita to fill any knowledge gaps. I also took all of the chapter quizzes and tried to close those gaps. I then did Lehmann's exam and scored a 62. This really bummed me out. I started taking the PrepCast simulation tests, and was only able to do 3 (i wanted to do more). My scores were 71, 76.5, and 77 - so not the recommended 80% avg.
I didn't want to reschedule my exam, 1 - because I didn't know what else I would do to close the knowledge gaps. I had been studying really hard, on a consistent basis. If I didn't know the material by now, there was no plan that I could think of that would help. I forgot to mention that I was avg. about 30-45 min left on the PrepCast exams to review my answers..."
Read more here: https://www.project-management-prepcast.com/kunena/pmp-exam-lessons-learned/5726-passed-on-1st-attempt-2-ps-and-3-mps-so-relieved
The To-Complete-Performance-Index (TCPI) allows a projection of the anticipated performance required to achieve a goal.
As a simple example: You are driving in your car to a friend’s house. You promised that you would arrive at 3pm. It is now 2:15pm and you have 30 miles to go. Your TCPI is the speed that you need to drive in order to arrive on time. (This is obviously not a perfect example for the TCPI, but it gets the point across: The TCPI defines the performance required in order to achieve a previously set goal.)
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) defines TCPI as the calculated projection of cost performance that must be achieved on the remaining work to meet a specified management goal, such as the budget at completion (BAC) or the estimate at completion (EAC). That is why there are two formulas - one calculates the TCPI to achieve the BAC and one to achieve the EAC.
TCPI can also be compared with the Cost Performance Index (CPI). This can provide additional performance information. For example, if the TCPI is greater than the current CPI then future efficiency must improve if the project is to achieve the BAC or EAC.
If the cumulative CPI falls below the baseline plan, all future work of the project will need to immediately be performed in the range of the TCPI (BAC) to stay within the authorized BAC. Whether this level of performance is achievable is a judgment call based on a number of considerations, including risks, schedule, and technical performance. Once management acknowledges that the BAC is no longer attainable, the project manager will prepare a new estimate at completion (EAC) for the work, and once approved, the project will work to the new EAC value.
Review the complete definition and formulas for TCPI in the Project Cost Management chapter of the PMBOK® Guide. The TCPI is covered in the Tools & Techniques section.
Which document will you refer to if you are unable to understand a component of the WBS?
A. The Project Charter
B. The Scope Statement
C. WBS Dictionary
D. Statement of Work
HINT: This document provides details about the deliverables, activity, and scheduling information for each component.
All our questions are updated to the latest A Guide to the Project Management Body of Knowledge (PMBOK® Guide) standard. Stop by at http://www.pm-prepcast.com/freesimulator and try the PM Exam Simulator free for 3 days. We also offer 110 free questions at http://www.free-pm-exam-questions.com. We are a Project Management Institute (PMI)® Registered Education Provider.
Answer and Explanation:
The correct answer is C.
You may refer to the WBS dictionary. This identifies all the components used in the WBS.
Lessons learned towards becoming a Project Management Professional (PMP)® shared to us by PM PrepCast student Barry Brandt, PMP.
"First, I wish I found PM PrepCast earlier in my studies. I got the simulator a week before the test. Here are my tips.
- Take the timed simulators so you get used to taking 200 questions with some pressure. I was able to finish the simulators in around 2.5 to 3 hours but the real exam took me almost the full 4 hours with only one break.
- Mark all answers you are unsure of. I found most of the marked ones I got right and most of the questions I got wrong I didn't mark. So if on the real exam you aren't sure of the marked questions (if you have time to review them) usually your first choice is probably correct. I did change 2 that I was sure were wrong on the exam.
- When reviewing the marked and wrong answers after the simulated exam read the referenced A Guide to the Project Management Body of Knowledge (PMBOK® Guide) page that the answer gives you. It's a great way to study the PMBOK® Guide and also the answers will make more sense. I suggest reading the PMBOK® Guide (not the most exciting read) at least once before trying the simulator. Another book is Rita Mulcahy's Exam Prep. Do her Process game.
- Know your ITTO's! Not memorize (though know what each one means) them but know the processes very well and the sequence of what comes first so you will be able to logically answer the situational questions and figure out the ITTO being asked about..."
Read more here: https://www.project-management-prepcast.com/kunena/pmp-exam-lessons-learned/5584-passed-the-pmp-exam-1st-try-on-march-9-2017-lessons-learned