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PMP Project Management Professional Study Guide, Fourth Edition

Book Description

The best fully integrated study system available for the PMP examFully updated for the current PMI® Project Management Body of Knowledge (PMBOK®) and the latest release of the Project Management Professional exam, PMP® Project Management Professional Study Guide, Fourth Edition covers what you need to know—and shows you how to prepare—for this challenging exam.Ebook version does not provide access to the companion files.

Table of Contents

  1. Cover 
  2. Title Page
  3. Copyright Page
  4. About the Author
    1. About the Technical Editor
    2. About LearnKey
  5. Contents at A Glance
  6. Contents 
  7. Acknowledgments
  8. Preface
    1. About the Download
    2. Exam Readiness Checklist
    3. In Every Chapter
    4. Some Pointers
  9. Introduction
  10. Part I: Project Initiation
    1. 1. Introducing Project Management
      1. The PMBOK Guide, This Book, and the PMP Exam
        1. All About the PMBOK Guide
        2. All About This Book
        3. All About the PMP Exam
      2. Defining What a Project Is—and Is Not
        1. Projects Are Temporary
        2. Projects Create Unique Products, Services, or Results
      3. Defining Project Management
        1. Progressive Elaboration
        2. Project Management Application Areas
        3. Understanding the Project Environment
        4. Relying on General Management Skills
        5. Relying on Interpersonal Skills
      4. Examining Related Areas of Project Management
        1. Project Portfolio Management
        2. Program Management
        3. Subproject Implementation
        4. Working with a Project Management Office
        5. Projects vs. Operations
        6. Projects and Business Value
      5. Certification Summary
      6. Key Terms
      7. Two-Minute Drill
      8. Self Test
      9. Self Test Answers
    2. 2. Examining the Project Life Cycle and the Organization
      1. Identifying Organizational Models and Attributes
        1. Considering Organizational Systems
        2. Considering Organizational Culture
        3. Completing Projects in Different Organizational Structures
        4. Utilizing Enterprise Environmental Factors
      2. Defining Key General Management Skills
        1. Leading the Project Team
        2. Communicating Project Information
        3. Negotiating Project Terms and Conditions
        4. Active Problem Solving
        5. Influencing the Organization
        6. Managing Social, Economic, and Environmental Project Influences
        7. Dealing with Standards and Regulations
        8. Considering International Influences
        9. Cultural Influences
      3. Meeting the Project Stakeholders
        1. Mystery Stakeholders
        2. Key Project Stakeholders
        3. Managing Stakeholder Expectations
        4. Enforcing Project Governance
      4. Working with the Project Team
        1. Identifying Project Team Roles
        2. Building the Project Team
      5. Revving Through Project Life Cycles
        1. Working with Project Life Cycles
        2. Project Phase Deliverables
      6. Certification Summary
      7. Key Terms
      8. Two-Minute Drill
      9. Self Test
      10. Self Test Answers
    3. 3. Adapting the Project Management Processes
      1. Learning the Project Processes
        1. Identifying the Project Management Process Groups
      2. Identifying the Initiating Process Group
        1. Identifying Needs
        2. Creating a Feasibility Study
        3. Identifying the Business Needs
        4. Creating a Product Description
        5. Creating a Project Charter
        6. Identify the Project Stakeholders
      3. Identifying the Planning Process Group
        1. Develop the Project Management Plan
        2. Plan Scope Management
        3. Collect and Document Project Requirements
        4. Creating the Project Scope
        5. Creating the Work Breakdown Structure
        6. Plan Schedule Management
        7. Defining the Project Activities
        8. Sequence the Project Activities
        9. Estimating Project Activity Resources
        10. Estimating Activity Durations
        11. Developing the Project Schedule
        12. Defining the Cost Management Plan
        13. Completing Estimates
        14. Determining the Project Budget
        15. Creating a Quality Management Plan
        16. Planning for Human Resource Needs
        17. Creating a Communications Management Plan
        18. Completing Risk Management Planning
        19. Identifying Project Risks
        20. Completing Qualitative and Quantitative Risk Analyses
        21. Completing Risk Response Planning
        22. Planning for Project Procurement
        23. Planning for Stakeholder Management
      4. Managing the Executing Processes
        1. Directing and Managing Project Work
        2. Mapping to Quality Assurance
        3. Acquiring and Developing the Project Team
        4. Managing the Project Team
        5. Manage Communications
        6. Managing Procurement Activities
        7. Manage Stakeholder Engagement
        8. Monitoring and Controlling the Project
      5. Monitoring and Controlling Project Work
        1. Managing Integrated Change Control
        2. Providing Scope Validation
        3. Implementing Scope Change Control
        4. Enforcing Schedule Control
        5. Managing Cost Control
        6. Ensuring Quality Control
        7. Controlling Project Communication
        8. Monitoring and Controlling Project Risks
        9. Controlling Project Procurements
        10. Controlling Stakeholder Engagement
      6. Closing the Project
        1. Closing a Project or Phase
        2. Closing Vendor Contracts
      7. How Process Groups Interact
        1. Customizing Process Interactions
        2. Plotting the Processes
      8. Certification Summary
      9. Key Terms
      10. Two-Minute Drill
      11. Self Test
      12. Self Test Answers
  11. Part II: PMP Exam Essentials
    1. 4. Implementing Project Integration Management
      1. Developing the Project Charter
        1. Creating the Project Charter
        2. Examining Benefit Measurement Methods
        3. Examining Constrained Optimization Methods
      2. Developing the Project Management Plan
        1. Understanding the Project Plan’s Purpose
        2. Preparing to Develop the Project Plan
        3. Applying Tools and Techniques for Project Plan Development
        4. Examining the Typical Project Plan
      3. Directing and Managing the Project Work
        1. Applying Corrective Action
        2. Considering Preventive Actions
        3. Managing Defect Repair
        4. Managing Change Requests
        5. Project Management Methodology
        6. Implementing Tools and Techniques for Project Execution
        7. Examining the Outputs of Project Plan Execution
      4. Monitoring and Controlling the Project Work
        1. Using Monitoring and Controlling Tools and Techniques
        2. Examining the Results of Project Work
      5. Performing Integrated Change Control
        1. Implementing Tools and Techniques for Integrated Change Control
      6. Closing the Project or Phase
        1. Preparing to Close the Project or Phase
      7. Certification Summary
      8. Key Terms
      9. Two-Minute Drill
      10. Self Test
      11. Self Test Answers
    2. 5. Managing the Project Scope
      1. Planning Project Scope Management
        1. Project Scope vs. Product Scope
        2. Creating the Project Scope Management Plan
        3. Using Scope Planning Tools and Techniques
        4. Creating the Scope Management Plan
      2. Collecting and Eliciting Project Requirements
        1. Interview the Stakeholders
        2. Leading a Focus Group
        3. Hosting a Requirements Workshop
        4. Using Group Creativity Techniques
        5. Using Group Decisions
        6. Relying on Surveys
        7. Observing Stakeholders
        8. Creating Prototypes
        9. Benchmarking the Requirements
        10. Utilizing a Context Diagram
        11. Analyzing Project Documents
        12. Managing the Project Requirements
      3. Defining the Project Scope Statement
        1. Examining the Inputs to Scope Definition
        2. Using Product Analysis
        3. Finding Alternatives
        4. Consulting with Experts
        5. Examining the Scope Statement
      4. Creating the Work Breakdown Structure
        1. Using a Work Breakdown Structure Template
        2. Decomposing the Project Deliverables
        3. Updating the Scope Statement
      5. Validating the Project Scope
        1. Examining the Inputs to Scope Validation
        2. Inspecting the Project Work
        3. Formally Accepting the Project Deliverables
      6. Controlling the Project Scope
        1. Examining the Inputs to Scope Change Control
        2. Implementing a Change Control System
      7. Certification Summary
      8. Key Terms
      9. Two-Minute Drill
      10. Self Test
      11. Self Test Answers
    3. 6. Introducing Project Time Management
      1. Creating the Schedule Management Plan
        1. Building the Schedule Management Plan
        2. Exploring the Schedule Management Plan
      2. Defining the Project Activities
        1. Getting to Work: Defining the Activities
        2. Decomposing the Project Work Packages
        3. Using Rolling Wave Planning
        4. Relying on Templates
        5. Using Planning Components
        6. Compiling the Activity List
        7. Documenting the Activity Attributes
      3. Sequencing Project Activities
        1. Considering the Inputs to Activity Sequencing
        2. Creating Network Diagrams
        3. Using the Precedence Diagramming Method
        4. Determining the Activity Dependencies
        5. Considering Leads and Lags
        6. Utilizing Network Templates
      4. Examining the Sequencing Outputs
        1. Using a Project Network Diagram
        2. Updating the Work Breakdown Structure
      5. Considering the Resource Requirements
        1. Considering Resource Availability
        2. Considering the Calendars
        3. Creating a Resource Breakdown Structure
        4. Updating the Activity Lists
      6. Estimating Activity Durations
        1. Considering the Activity Duration Estimates Inputs
        2. Applying Expert Judgment
        3. Creating an Analogy
        4. Applying Parametric Estimates
        5. Creating a Three-Point Estimate
        6. Using the Delphi Technique
        7. Factoring in Reserve Time
        8. Evaluating the Estimates
      7. Developing the Project Schedule
        1. Revisiting the Project Network Diagram
        2. Relying on Activity Duration Estimates
        3. Evaluating the Project Constraints
        4. Reevaluating the Assumptions
        5. Evaluating the Risk Management Plan
        6. Examining the Activity Attributes
      8. Defining the Project Timeline
        1. Performing Schedule Network Analysis
        2. Calculating Float in a PND
        3. Using the Critical Chain Method
        4. Encountering Scheduling on the PMP Exam
        5. Optimizing Resource Utilization
        6. Applying Duration Compression
        7. Using a Project Simulation
        8. Using Project Management Software
        9. Relying on a Project Coding Structure
        10. Examining the Project Schedule
        11. Utilizing the Schedule Management Plan
        12. Updating the Resource Requirements
      9. Controlling the Project Schedule
        1. Managing the Inputs to Schedule Control
        2. Applying a Schedule Control System
        3. Measuring Project Performance
        4. Examining the Schedule Variance
        5. Updating the Project Schedule
        6. Applying Corrective Action
        7. Writing the Lessons Learned
      10. Certification Summary
      11. Key Terms
      12. Two-Minute Drill
      13. Self Test
      14. Self Test Answers
    4. 7. Introducing Project Cost Management
      1. Planning the Project Costs
        1. Considering the Cost Planning Inputs
        2. Creating the Cost Management Plan
      2. Estimating the Project Costs
        1. Considering the Cost Estimating Inputs
        2. Estimating Project Costs
        3. Using Analogous Estimating
        4. Using Parametric Estimating
        5. Using Bottom-Up Estimating
        6. Creating a Three-Point Cost Estimate
        7. Using Computer Software
        8. Analyzing Vendor Bids
      3. Analyzing Cost Estimating Results
        1. Refining the Cost Estimates
        2. Considering the Supporting Detail
      4. Creating a Project Budget
        1. Developing the Project Budget
        2. Creating the Cost Baseline
        3. Establishing Project Funding Requirements
      5. Implementing Cost Control
        1. Considering Cost Control Inputs
        2. Creating a Cost Change Control System
      6. Measuring Project Performance
        1. Finding the Variances
        2. Calculating the Cost Performance Index
        3. Finding the Schedule Performance Index
        4. Preparing for the Estimate at Completion
        5. Finding the Estimate to Complete
        6. Calculating the To-Complete Performance Index
        7. Finding the Variance at Completion
        8. The Five EVM Formula Rules
        9. Additional Planning
        10. Using Computers
      7. Considering the Cost Control Results
        1. Revising the Cost Estimates
        2. Updating the Budget
        3. Applying Corrective Actions
        4. Updating Lessons Learned
      8. Certification Summary
      9. Key Terms
      10. Two-Minute Drill
      11. Self Test
      12. Self Test Answers
    5. 8. Introducing Project Quality Management
      1. Looking at the Big Quality Picture
        1. Accepting the Quality Management Approach
        2. Quality vs. Grade
        3. Implementing Quality Project Management
      2. Preparing for Quality
        1. Determining the Quality Policy
        2. Reviewing the Scope Baseline
        3. Consider Schedule and Costs
        4. Reviewing the Standards and Regulations
      3. Planning for Quality
        1. Using a Benefit/Cost Analysis
        2. Applying Benchmarking Practices
        3. Design of Experiments
        4. Considering the Cost of Quality
        5. Creating the Quality Management Plan
        6. Identifying the Operational Definitions
        7. Applying Checklists
        8. Creating the Process Improvement Plan
      4. Executing Quality Assurance
        1. Preparing for Quality Assurance
        2. Applying Quality Assurance
        3. Completing a Quality Audit
        4. Improving the Project
      5. Implementing Quality Control
        1. Preparing for Quality Control
        2. Inspecting Results
        3. Creating a Flowchart
        4. Creating a Control Chart
        5. Creating Pareto Diagrams
        6. Creating a Histogram
        7. Creating a Scatter Diagram
        8. Creating a Run Chart
        9. Completing a Statistical Sampling
        10. Revisiting Flowcharting 45
        11. Applying Trend Analysis 45
        12. The Results of Quality Control
      6. Certification Summary
      7. Key Terms
      8. Two-Minute Drill
      9. Self Test
      10. Self Test Answers
    6. 9. Introducing Project Human Resource Management
      1. Preparing for Human Resource Planning
        1. Identifying the Project Interfaces
        2. Identifying the Resource Requirements
        3. Identifying the Project Constraints
      2. Completing Organizational Planning
        1. Relying on Templates
        2. Applying Human Resource Practices
        3. Relating to Organizational Theories
        4. Networking with Stakeholders
        5. Charting the Project Resources
      3. Preparing for Project Team Management
        1. Creating the Role and Responsibility Assignments
        2. Creating an Organizational Chart
        3. Creating a Staffing Management Plan
        4. Documenting the Supporting Detail
      4. Acquiring the Project Human Resources
        1. Referring to the Human Resource Plan
        2. Examining the Staffing Pool
        3. Recruiting Project Team Members
        4. Working with Preassigned Staff
        5. Negotiating for Resources
        6. Acquiring Staff
        7. Working with Virtual Teams
        8. Rating Potential Project Team Members
        9. Assembling the Project Team
      5. Developing the Project Team
        1. Preparing to Develop the Project Team
        2. Leading Project Team Development
        3. Creating Team-Building Activities
        4. Naturally Developing Project Teams
        5. Relying on General Management Skills
        6. Rewarding the Project Team
        7. Dealing with Team Locales
        8. Training the Project Team
        9. Examining the Results of Team Development
      6. Managing the Project Team
        1. Communicating with the Project Team
        2. Completing Project Performance Appraisals
        3. Dealing with Team Disagreements
      7. Certification Summary
      8. Key Terms
      9. Two-Minute Drill
      10. Self Test
      11. Self Test Answers
    7. 10. Introducing Project Communications Management
      1. Communications Planning
        1. Considering the Project Management Plan
        2. Leveraging Enterprise Environmental Factors
        3. Identifying Communication Requirements
        4. Exploring Communication Technologies
        5. Examining Communication Skills
        6. Creating Successful Communications
        7. Creating the Communications Plan
      2. Managing Project Communications
        1. Creating Information Retrieval Systems
        2. Creating Lessons Learned
        3. Distributing Information
        4. Examining the Results of Information Distribution
      3. Controlling Project Communications
        1. Preparing for Communications Control
        2. Analyzing Project Variances
      4. Reporting Project Performance
        1. Reviewing Project Performance
        2. Completing Trend Analysis
        3. Examining the Results of Performance Reporting
      5. Certification Summary
      6. Key Terms
      7. Two-Minute Drill
      8. Self Test
      9. Self Test Answers
    8. 11. Introducing Project Risk Management
      1. Planning for Risk Management
        1. Examining Stakeholder Tolerance
        2. Relying on Risk Management Policies
      2. Creating the Risk Management Plan
        1. Examining the Risk Management Plan
        2. Creating Risk Categories
        3. Using a Risk Management Plan Template
      3. Identifying Risks
        1. Preparing for Risk Identification
        2. Relying on Project Planning
        3. Identifying the Project Risks
        4. Reviewing Project Documents
        5. Testing the Assumptions
        6. Brainstorming the Project
        7. Using the Delphi Technique
        8. Identifying Risks Through Interviews
        9. Analyzing SWOT
        10. Utilizing Diagramming Techniques
        11. Creating a Risk Register
      4. Using Qualitative Risk Analysis
        1. Preparing for Qualitative Risk Analysis
        2. Completing Qualitative Analysis
        3. Applying Probability and Impact
        4. Creating a Probability-Impact Matrix
        5. Relying on Data Precision
        6. Examining the Results of Qualitative Risk Analysis
      5. Preparing for Quantitative Risk Analysis
        1. Considering the Inputs for Quantitative Analysis
        2. Interviewing Stakeholders and Experts
        3. Applying Sensitivity Analysis
        4. Finding the Expected Monetary Value
        5. Using a Decision Tree
        6. Using a Project Simulation
        7. Examining the Results of Quantitative Risk Analysis
      6. Planning for Risk Responses
        1. Preparing for Risk Response
        2. Creating Risk Responses
        3. Avoiding the Negative Risk and Threats
        4. Transferring the Negative Risk
        5. Mitigating the Negative Risk
        6. Managing the Positive Risk and Opportunities
        7. Accepting the Risks
        8. Examining the Results of Risk Response Planning
        9. Working with Residual Risks
        10. Accounting for Secondary Risks
        11. Creating Contracts for Risk Response
        12. Justifying Risk Reduction
        13. Updating the Project Plan
      7. Implementing Risk Monitoring and Control
        1. Preparing for Risk Monitoring and Control
        2. Completing Risk Monitoring and Control
        3. Completing Risk Response Audits
        4. Completing Periodic Risk Reviews
        5. Using Earned Value Analysis
        6. Measuring Technical Performance
        7. Completing Additional Risk Planning
        8. Examining the Results of Risk Monitoring and Control
      8. Certification Summary
      9. Key Terms
      10. Two-Minute Drill
      11. Self Test
      12. Self Test Answers
    9. 12. Introducing Project Procurement Management
      1. Planning for Purchases
        1. Evaluating the Market Conditions
        2. Referring to the Scope Baseline
        3. Relying on the Project Management Plan
        4. Teaming with Other Organizations
        5. Planning for the Project Requirements
      2. Completing Procurement Planning
        1. Determining to Make or Buy
        2. Using Expert Judgment
        3. Determining the Contract Type
        4. Summary of Contract Types
        5. The Procurement Management Plan
        6. Using the Statement of Work
      3. Preparing for Contracting
        1. Organizing Contracting Materials
        2. Creating the Procurement Documents
        3. Determining the Source Selection Criteria
        4. Updating the Procurement Statement of Work
      4. Completing Procurement Purchasing
        1. Procuring Goods and Services
        2. Examining the Results of Contracting
        3. Selecting the Seller
        4. Preparing for Source Selection
        5. Completing the Seller Selection Process
        6. Examining the Results of Seller Selection
      5. Controlling Procurements
        1. Preparing for Contract Administration
        2. Completing Contract Administration
        3. Reviewing the Results of Procurement Control
      6. Performing Contract Closure
        1. Reviewing Contract Documentation
        2. Auditing the Procurement Process
        3. Negotiated Settlements
        4. Completing Contract Closeout
      7. Certification Summary
      8. Key Terms
      9. Two-Minute Drill
      10. Self Test
      11. Self Test Answers
    10. 13. Introducing Project Stakeholder Management
      1. Identifying the Project Stakeholders
        1. Preparing for Stakeholder Identification
        2. Performing Stakeholder Analysis
        3. Creating a Stakeholder Register
      2. Planning Stakeholder Management
        1. Organizing the Planning
        2. Analyzing Stakeholder Engagement
        3. Building the Stakeholder Management Plan
      3. Promoting Stakeholder Engagement
        1. Engaging Stakeholders
        2. Examining Results of Stakeholder Engagement
      4. Controlling Stakeholder Engagement
        1. Taking Action for Stakeholder Engagement
        2. Completing Stakeholder Engagement Control
        3. Reviewing the Results of Controlling Stakeholder Engagement
      5. Certification Summary
      6. Key Terms
      7. Two-Minute Drill
      8. Self Test
      9. Self Test Answers
    11. 14. The PMI Code of Ethics and Professional Conduct
      1. Responsibilities to the Profession
        1. Complying with Rules and Policies
        2. Applying Honesty to the Profession
        3. Advancing the Profession
      2. Responsibilities to the Customer and to the Public
        1. Enforcing Project Management Truth and Honesty
        2. Eliminating Inappropriate Actions
        3. Respecting Others
      3. Certification Summary
      4. Key Terms
      5. Two-Minute Drill
      6. Self Test
      7. Self Test Answers
  12. Part III: Appendices
    1. A. Critical Exam Information
      1. Exam Test-Passing Tips
        1. Days Before the Exam
        2. Practice the Testing Process
        3. Testing Tips
        4. Answer Every Question—Once
        5. Use the Process of Elimination
      2. Everything You Must Know
        1. The 47 Project Management Processes
        2. Magic PMP Formulas
        3. Earned Value Management Formulas
        4. Quick PMP Facts
    2. B. About the Download
      1. Downloadable MasterExam
        1. System Requirements
        2. MasterExam
        3. Help
        4. Removing Installation
      2. Media Center Downloadable Content
        1. Author Video
        2. Additional Resources
      3. Technical Support
        1. LearnKey Technical Support
        2. McGraw-Hill Education Technical Support and Customer Service
    3. C. Practice Exam I
    4. D. Practice Exam II
  13. Glossary
  14. Index