bixal pmp study group chapter 1 - dec. 3, 2014

PMP STUDY GROUPIntroduction & Chapter 1

December 3, 2014

Jason Luttrell

Agenda

1. What is PMP?

2. Steps to get certified

3. Preparation tips

4. Chapter 1

December 3, 2014 Overview 2

1. PMP OVERVIEWWhat is PMP Certification?

December 3, 2014 1 - Overview 3

Project Management Institute (PMI)

• A global organization with a 40-year history of advocacy

for the profession.

• PMI supports practitioners with project management (PM)

credentials and certifications that objectively assess

experience, education, and knowledge.

December 3, 2014 1 - Overview 4

PMP Key Facts

• Project Management Professional (PMP)® credential is

the most important industry-recognized certification for

project managers. Globally recognized and demanded,

the PMP® demonstrates that you have the experience,

education and competency to lead and direct projects.

• PMP exams and credentials are proctored and

administered by the Project Management Institute (PMI).

• Many government contracts are now requiring PMP

certification for project managers.

December 3, 2014 1 - Overview 5

PMI Certifications

• Project Manager (PMP) – most recognizable, demanded

• Project Coordinator or Jr. PM (CAPM) – easier to obtain

• Program Manager (PgMP)

• Portfolio Manager (PfMP)

• Agile Practitioner (PMI-ACP)

• Business Analyst (PMI-PBA)

• Risk Management (PMI-RMP)

• Project Scheduling (PMI-Scheduling)

December 3, 2014 1 - Overview 6

Certification Advantages

• Certification shows dedication and proficiency in PM.

• Distinction and recognition in the community of PM

practitioners

• Enhances corporate competitiveness as many customers

require PMP certification for key personnel.

December 3, 2014 1 - Overview 7

Which one to pursue?

Certified Associate in Project Management (CAPM)

• Exam is 150 questions,

slightly easier (3 hours)

• Good for 5 years

Project Management Professional (PMP)

• Exam is 200 questions (4

hours)

• Good for 3 years

December 3, 2014 1 - Overview 8

High School or

Associate

Bachelor

5 years PM

experience; 60

months

3 years PM

experience; 36

months

35 hours of PM

education

35 hours of PM

education

High School N.A.

1,500 hours of

project

experience

23 hours of PM

education.

Adding Up Your Experience

• When applying you must count “non-overlapping project

experience”

• Each month you worked on multiple, overlapping projects

counts as one month toward the total requirement.

• You do not need to have the job title of PM as applying a

knowledge domain area can count as experience for that

area.

• Assuming you have a Bachelor’s degree, you need 36

unique month of working on projects and a total of at least

4,500 hours.

• PMI assumes full-time work in 40 hour work weeks.

December 3, 2014 1 - Overview 9

2. THE PROCESSSteps to Get Certified

December 3, 2014 2 – The Process 10

8 Steps

1. Become a PMI member

• Cost is recovered in $150 discount on exam

2. Complete coursework

• Must have 35+ contact hours

• Colleges (e.g., UMUC) offer this as part of MBA coursework now

• Online is cheaper www.pmstudy.com/enroll.asp

3. Submit application

• Do online at PMI.org.

• There is a 10 day application review before it is accepted.

4. Submit payment

• $405 (member), $555 (non-member)

December 3, 2014 2 – The Process 11

8 Steps

5. Complete audit (if selected)

6. Schedule exam

• Must be taken at Prometric centers

• Do this a few months in advance

7. Study

8. Exam time

Re-certification must be done every three years. This

requires 60 Professional Development Units (PDUs) and

renewal fees.

December 3, 2014 2 – The Process 12

PMP Application

• You need to list in your application:

• Personal information (name, address, contact info, etc.)

• College/university degree (optional)

• Number of contact hours completed and where

• All the projects you worked on to count towards PM experience

• In the project experience section, for each project:

• Start date, end date

• Exact number of hours worked broken down by the 5 Process

Groups

• Point of contact and their contact information (e.g. manager,

sponsor, colleague)

• A description of the work you did using PMI terminology.

December 3, 2014 2 – The Process 13

3. EXAM PREPBest Ways to Prepare

December 3, 2014 3 – Exam Prep 14

How to Prepare

• Remember: The correct answer is what PMI says it is!

• ITTO (Inputs, Tools & Techniques and Outputs)• There are around 650 ITTOs

• Memorizing helps, but understanding them is better!

• Know the formulas

• Join study group!

• Take practice exams – helps identify weak spots

• Numerous online resources and e-books

• Focus on weak spots• Typically, gaps in the Procurement and Risk knowledge areas, as

well as the Monitoring and Controlling processes

• Apply what you learn

December 3, 2014 3 – Exam Prep 15

PMP Exam Info

Domain % Q

Initiation 13% 26

Planning 24% 48

Executing 30% 60

Monitoring & Controlling 25% 50

Closing 8% 16

Total 100% 200

December 3, 2014 3 – Exam Prep 16

4. FIRST CHAPTERBest Ways to Prepare

December 3, 2014 4 – First Chapter 17

Chapter 1 Contents

• The PMBOK Guide

• What is a Project?

• What is Project Management?

• Relationships Among Portfolio/Program/Project

Management

• Relationships Between Project Mgmt, Org. Mgmt., and

Org. Strategy

• Business Value

• Role of the PM

December 3, 2014 4 – Chapter 1 18

PMBOK Guide

1. Provides the

standard.

2. The test questions

are based on this

book.

3. Good resource to

have.

4. Not the easiest

reading; there are

other resources too.

December 3, 2014 4 – Ch 1. PMBOK Guide 19

What is a Project?

• A temporary endeavor undertaken to

create a unique product, service, or

result.

December 3, 2014 4 – Ch. 1 What is a Project? 20

Project vs. Operations

Project

• Always has a start and

end date

• Produces a unique

product, service, or result.

Operations

• Is an on-going process of

functions.

• Always produces the

same product, service or

result.

(Operations management

is outside the scope of

project management.)

December 3, 2014 4 – Ch. 1 What is a Project? 21

What is Project Management?

December 3, 2014 4 – Ch. 1 What is Project Management? 22

What is Project Management?

• Application of knowledge, skills, tools and

techniques to project activities to meet

project requirements.

December 3, 2014 4 – Ch. 1 What is Project Management? 23

Five Process Groups

• Initiating

• Planning

• Executing

• Monitoring and Controlling

• Closing

December 3, 2014 4 – Ch. 1 What is Project Management? 24

Project Constraints

December 3, 2014 4 – Ch. 1 What is Project Management? 25

Project Drivers

• Market demand

• Strategic opportunity / business need

• Social need

• Environmental consideration

• Customer request

• Technological advance

• Legal requirement

December 3, 2014 4 – Ch. 1 What is Project Management? 26

Portfolios, Programs and Projects

• Portfolio – have an organizational scope

that changes with the strategic objectives of

the organization.

• Program – have a larger scope than projects

and provide more significant benefits.

• Project – defined objectives.

December 3, 2014 4 – Ch. 1 Portfolio, Programs, and Projects 27

Portfolios, Programs and Projects

• Portfolio – managed for strategic objectives.• Program – managed in coordinated fashion in support of portfolio.• Project – managed in support of program.

• Organizational planning directs management of resources, and support for project components based on risks, lines of business, infrastructure, and process improvement.

• Programs are directed by Program Managers.

December 3, 2014 4 – Ch. 1 Portfolio, Programs, and Projects 28

Organizational Project Management

• OPM is a strategy execution framework

using project, program and portfolio

management as well as organizational

enabling practices to consistently and

predictably deliver organizational strategy

to produce better performance, better

results and a sustainable competitive

advantage.

December 3, 2014 4 – Ch. 1 Project Management and the Org. 29

Project Management Office

• The management structure that

standardizes project-related governance;

facilitates sharing of resources, methods,

tools and techniques; and coordinates

cross-project communication.

• Types:

• Supportive

• Controlling

• Directive

December 3, 2014 4 – Ch. 1 Project Management and the Org. 30

Project-Based Organizations (PBOs)

• Organizations that create temporary

projects to carry out work.

December 3, 2014 4 – Ch. 1 Project Management and the Org. 31

Business Value

• Unique to each organization

• Defined as the entire value of the business: total sum of all tangible and intangible elements.

• All organizations focus on attaining business value for their activities.

• Business value can be realized by aligning organization’s portfolios, programs and projects with the organization’s strategy and objectives.

December 3, 2014 4 – Ch. 1 Business Value 32

The Role of the PM

• Competencies:• Knowledge

• Performance

• Personal

• Interpersonal skills • Probably the most important job qualifications, but least discussed.

December 3, 2014 4 –Ch. 1 The Role of the PM 33

Chapter 1 Summary

• The PMBOK Guide

• What is a Project?

• What is Project Management?

• Relationships Among Portfolio/Program/Project

Management

• Relationships Between Project Mgmt, Org. Mgmt., and

Org. Strategy

• Business Value

• Role of the PM

December 3, 2014 344 – Chapter 1

QUESTIONS?Next: Ch. 2 – Organizational Influence and Project Life

Cycle

December 3, 2014 Q&A 35