pmp® project management professional study guide, · pdf filepmp® project management...

PMP Project ManagementProfessional Study Guide,
Third Edition
Joseph Phillips
McGraw-Hill is an independent entity from the Project Management Institute, Inc.and is not affiliated with the Project Management Institute, Inc. in any manner.Thispublication and CD may be used in assisting students to prepare for the ProjectManagement Institute's PMP Exam. Neither the Project Management Institute, Inc.nor McGraw-Hill warrant that use of this publication and CD will ensure passing therelevant exam. PMI, the PMBOK, and PMP are trademarks or registered trademarksof the Project Management Institute, Inc. in the United States and other countries.
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CONTENTS
About the Contributors ivAcknowledgments xxiiiPreface xxvIntroduction xxviii
ParUProject Initiation
I Introducing Project Management 3The PMBOK Guide, This Book, and the PMP Exam 4
All About the PMBOK Guide 5All About This Book 5All About the PMP Exam 6
Defining What a Project Isand Is Not 10Projects Are Temporary 10Projects Create Unique Products, Services, or Results 11Progressive Elaboration 11Projects vs. Operations 13Projects and Strategic Planning 14
Defining Project Management 16Project Management Application Areas 18Management by Projects 18Understanding the Project Environment 19Relying on General Management Skills 20Relying on Interpersonal Skills 21
Examining Related Areas of Project Management 22Program Management 22Subproject Implementation 24Working with a Project Management Office 24
/ Two-Minute Drill 29Q&A Self Test 31
Self Test Answers 36
ix

X PMP Project Management Professional Study Guide
Examining the Project Life Cycleand the Organization 45
Revving Through Project Life Cycles 46Working with Project Life Cycles 47Project Phase Deliverables 52
Meeting the Project Stakeholders 56Managing Stakeholder Expectations 60
Identifying Organizational Models and Attributes 61Considering Organizational Systems 63Considering Organizational Culture 64Completing Projects in Different
Organizational Structures 64Relying on Organizational Process Assets 70The Project Management Office 71
Defining Key General Management Skills 71Managing Social, Economic, and
Environmental Project Influences 76Dealing with Standards and Regulations 76Considering International Influences 77Cultural Influences 77
Adapting the Project Management Processes 99Learning the Project Processes 101
Identifying the Project Management Process Groups 102Identifying the Initiating Process Group 105Identifying the Planning Process Group 108Managing the Executing Processes 116Monitoring and Controlling the Project 120Closing the Project 124
How Process Groups Interact 125Customizing Process Interactions 126Plotting the Processes 126

Contents*
/ Two-Minute Drill : 132Q&A Self Test 135
Part IIPMP Exam Essentials
4 Implementing Project Integration Management . . . . 151
Developing the Project Charter 153Creating the Project Charter 154Examining Benefit Measurement Methods 158Examining Constrained Optimization Methods 163
Developing the Project Plan 165Understanding the Project Plan's Purpose 166Preparing to Develop the Project Plan 166Applying Tools and Techniques for
Project Plan Development 167Examining the Typical Project Plan 169
Executing the Project Plan 175Implementing Tools and Techniques
for Project Execution 177Examining the Outputs of Project Plan Execution 178
Monitoring and Controlling the Project Work 180Using Monitoring and Controlling
Tools and Techniques 180Examining the Results of Project Work 182Reacting to Change 183Implementing Tools and Techniques for
Integrated Change Control 183Closing the Project or Phase 188
Preparing to Close the Project or Phase 188Completing Contract Closure 189

PMP Project Management Professional Study Guide
Managing the Project Scope 215Collecting and Eliciting Project Requirements 216
Interview the Stakeholders 218Leading a Focus Group 218Hosting a Requirements Workshop 218Using Group Creativity Techniques 219Using Group Decisions 221Relying on Surveys 222Observing Stakeholders 222Creating Prototypes 222Managing the Project Requirements 223
Defining Project Scope Management 224Project Scope vs. Product Scope 225
Planning the Project Scope 226Using Scope Planning Tools and Techniques 227Creating the Scope Management Plan 227
Defining the Project Scope Statement 228Examining the Inputs to Scope Definition 228Using Product Analysis 229Finding Alternatives 230Performing Stakeholder Analysis 230Examining the Scope Statement 230
Creating the Work Breakdown Structure 234Using a Work Breakdown Structure Template . . . 235Decomposing the Project Deliverables 236Updating the Scope Statement 23 7
Verifying the Project Scope 238Examining the Inputs to Scope Verification 239Inspecting the Project Work 239Formally Accepting the Project Deliverables 240
Protecting the Project Scope from Change 240Examining the Inputs to Scope Change Control 241Implementing a Change Control System 242
/ Two-Minute Drill 249Q & A Self Test 252

Contents
6 Introducing Project Time Management 269Defining the Project Activities 270
Getting to Work: Defining the Activities 271Decomposing the Project Work Packages 272Using Rolling Wave Planning 273Relying on Templates 273Using Planning Components 273Compiling the Activity List 274Documenting the Activity Attributes 275
Sequencing Project Activities 276Considering the Inputs to Activity Sequencing 277Creating Network Diagrams 277Using the Precedence Diagramming Method 278Determining the Activity Dependencies 280Considering Leads and Lags 280Utilizing Network Templates 281
Examining the Sequencing Outputs 282Using a Project Network Diagram 282Updating the Work Breakdown Structure 283
Considering the Resource Requirements 284Considering Resource Availability 284Considering the Calendars 286Creating a Resource Breakdown Structure 287
. ' Updating the Activity Lists 287Estimating Activity Durations 287
Considering the Activity Duration Estimates Inputs 288Applying Expert Judgment 290Creating an Analogy 290Applying Parametric Estimates 291Creating a Three-Point Estimate 292Factoring in Reserve Time 292Evaluating the Estimates 294
Developing the Project Schedule 295Revisiting the Project Network Diagram 295Relying on Activity Duration Estimates 296Evaluating the Project Constraints 296Reevaluating the Assumptions 298

X I V PMP Project Management Professional Study Guide
Evaluating the Risk Management Plan 298Examining the Activity Attributes 298
Defining the Project Timeline . . 299Performing Schedule Network Analysis 299Calculating Float in a PND 300Using the Critical Chain Method 303Encountering Scheduling on the PMP Exam 304Applying Duration Compression 304Using a Project Simulation 306Using Resource-Leveling Heuristics 307Using Project Management Software 308Relying on a Project Coding Structure 308Examining the Project Schedule 309Utilizing the Schedule Management Plan 310Updating the Resource Requirements 311
Controlling the Project Schedule 311Managing the Inputs to Schedule Control 311Applying a Schedule Control System 312Measuring Project Performance 312Examining the Schedule Variance 312Updating the Project Schedule 313Applying Corrective Action 313Writing the Lessons Learned 313
7 Introducing Project Cost Management 339Estimating the Project Costs 340
Considering the Cost Estimating Inputs 341Estimating Project Costs 346Using Analogous Estimating 346Using Parametric Estimating 347Using Bottom-Up Estimating 349Creating a Three-Point Cost Estimate 349Using Computer Software 349Analyzing Vendor Bids 350

Contents X V
Analyzing Cost Estimating Results 351Refining the Cost Estimates 351Considering the Supporting Detail 352Developing the Cost Management Plan 353
Creating a Project Budget 353Developing the Project Budget 353Creating the Cost Baseline 354Establishing Project Funding Requirements 355
Implementing Cost Control 355Considering Cost Control Inputs 356Creating a Cost Change Control System 357
Measuring Project Performance 358Finding the Variances 359Calculating the Cost Performance Index 360Finding the Schedule Performance Index 361Preparing for the Estimate at Completion 361Finding the Estimate to Complete 363Calculating the To-Complete Performance Index 364Finding the Variance at Completion 365The Five EVM Formula Rules 365Additional Planning 366Using Computers 367
Considering the Cost Control Results 367Revising the Cost Estimates 367Updating the Budget 368Applying Corrective Actions 368Updating Lessons Learned 369
8 Introducing Project Quality Management 393The Big Quality Picture 395
Accepting the Quality Management Approach 395Quality vs. Grade 396Implementing Quality Project Management 396

Project Management Professional Study Guide
Preparing for Quality 397Determining the Quality Policy 398Reviewing the Scope Baseline 398Reviewing the Standards and Regulations 399
Planning for Quality 399Using a Benefit/Cost Analysis 400Applying Benchmarking Practices 401Design of Experiments , 402Considering the Cost

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