1. The project planning process entails 21 of the 39 PMBOK processes.

  2. The project plan is much more than a project schedule. It is an all-encompassing document used as the basis for project controlling and executing.

  3. A project charter is not a project plan.

  4. The WBS is not the project schedule.

  5. The WBS serves as the foundation for most project-planning activities.

  6. The WBS should include all the work of the project and should be developed with the project team.

  7. The granularity of the WBS depends on what detail is needed for effective management and control.

  8. Scope definition generates the WBS. Activity definition generates the activity list.

  9. A project schedule must meet three key criteria to be complete: It must have buy-in, be achievable, and be realistic and formal.

  10. Developing a project schedule is a four-step process: (1) define work activities; (2) identify activity/task relationships; (3) estimate effort and duration of each activity; (4) apply calendar and resources to build a schedule.

  11. Network diagrams highlight relationships among project activities.

  12. The three types of project network diagrams are Activity-on-Node (most popular), Activity-on-Arrow (uses dummy activities), and GERT (uses loops and conditional branches).

  13. Estimating should be performed (or approved) by the person doing the work.

  14. Key project success factors (cost, time, scope, resources) should be managed to baselines and only changed when an approved project change has been executed.

  15. All assumptions used in estimating should be documented.

  16. Historical information is vital to improving estimates.

  17. The key facts about the "critical path" in a project schedule are as follows:

    • It's the longest sequence of activities.

    • There is zero slack (float).

    • It's the focus of any schedule-compression activity.

  18. The three scheduling techniques are CPM (uses one estimate), PERT (uses three estimates), and GERT (can show various project outcomes).

  19. The Monte Carlo technique is the most popular simulation scheduling technique and is also used for risk analysis.

  20. The three methods for presenting the project schedule are milestone charts, Gantt charts, and network diagrams.

  21. The two most popular methods for compressing the schedule are crashing (adding resources to critical path tasks) and fast tracking (performing critical path tasks in parallel).

  22. Cost estimates for an activity are affected by activity duration, resource rates, and risk level.

  23. The three levels of estimating accuracy are order of magnitude (-25% to +75%), budget (-10% to +25%), and definitive (-5% to +10%).

  24. The risk management plan is not a risk response plan.

  25. All project management activity should be "thought about" and planned.

  26. Effective project management is proactive.

  27. The "core" planning processes are those that must be done in a specific sequence.

  28. The "facilitating" planning processes are always performed, are not optional, and directly impact many of the core planning processes.

  29. The formality and detail of each supplemental plan will vary depending on project need.

  30. Ninety percent of a project manager's time is spent communicating. Communication is the most important project management skill.

  31. Remember the three C's in project communications: Be clear, concise, and courteous.

  32. Quality management addresses both product (goods and services) quality and project management quality.

  33. The project manager has ultimate responsibility for the project product quality.

  34. Quality is planned in, not inspected in.

  35. The PMI definition of quality is "conformance to requirements" and "fitness of use."

  36. The identification of risks is an iterative, continual process throughout the project.

  37. Risk management will change the project plan during planning, executing, and controlling.

  38. After procurement planning, the other steps of procurement management (including solicitation planning) are only performed if a "buy" decision is made.

  39. All requirements should be specifically stated in the contract and should be met.

  40. Project communication dealing with procurement management should always be formal and written.

  41. Incentives should be used to align the seller's objectives with the buyer's.

  42. The risk management plan, risk response plan, procurement management plan, quality management plan, communications plan, and staffing plan are all considered part of the project plan.

  43. The three main types of contracts are cost reimbursable, fixed fee, and time and materials.

PMP Exam Cram 2. Project Management Professional
PMP Exam Cram 2. Project Management Professional
Year: 2003
Pages: 169 © 2008-2017.
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