[Kim Heldman, Vanina Mangano] PMP Project Management Professional Exam Review Guide

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PMP Project Management Professional Exam Review Guide. Tác giả: Kim Heldman, Vanina Mangano. Nhà xuất bản: Wiley Publishing, Inc.Hướng dẫn thi chứng chỉ Project Management Professional (PMP) của Project Management Institute.

PMP ® Project Management Professional Exam Review Guide PMP ® Project Management Professional Exam Review Guide Kim Heldman Vanina Mangano Acquisitions Editor: Jeff Kellum Development Editor: Mary Ellen Schutz Technical Editor: Terri Wagner Production Editor: Dassi Zeidel Copy Editor: Liz Welch Editorial Manager: Pete Gaughan Production Manager: Tim Tate Vice President and Executive Group Publisher: Richard Swadley Vice President and Publisher: Neil Edde Media Project Manager 1: Laura Moss-Hollister Media Associate Producer: Shawn Patrick Media Quality Assurance: Marilyn Hummel Book Designer: Judy Fung and Bill Gibson Compositor: Craig Woods, Happenstance Type-O-Rama Proofreader: Kathy Pope, Word One New York Indexer: Robert Swanson Project Coordinator, Cover: Lynsey Stanford Cover Designer: Ryan Sneed Disclaimer: This eBook does not include ancillary media that was packaged with the printed version of the book Copyright © 2009 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada ISBN: 978-0-470-47958-2 No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600 Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions Limit of Liability/Disclaimer of Warranty: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose No warranty may be created or extended by sales or promotional materials The advice and strategies contained herein may not be suitable for every situation This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services If professional assistance is required, the services of a competent professional person should be sought Neither the publisher nor the author shall be liable for damages arising herefrom The fact that an organization or Web site is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Web site may provide or recommendations it may make Further, readers should be aware that Internet Web sites listed in this work may have changed or disappeared between when this work was written and when it is read For general information on our other products and services or to obtain technical support, please contact our Customer Care Department within the U.S at (877) 762-2974, outside the U.S at (317) 572-3993 or fax (317) 572-4002 Wiley also publishes its books in a variety of electronic formats Some content that appears in print may not be available in electronic books Library of Congress Cataloging-in-Publication Data Heldman, Kim PMP : project management professional exam review guide / Kim Heldman, Vanina Mangano — 1st ed p cm ISBN 978-0-470-47958-2 (paper/cd-rom) Project management—Examinations, questions, etc I Mangano, Vanina II Guide to the project management body of knowledge (PMBOK guide) III Title HD69.P75H446 2009 658.4’04076—dc22 2009017144 TRADEMARKS: Wiley, the Wiley logo, and the Sybex logo are trademarks or registered trademarks of John Wiley & Sons, Inc and/or its affiliates, in the United States and other countries, and may not be used without written permission PMI, CAMP, PMP, and PMBOK are trademarks or registered trademarks of Project Management Institute, Inc All other trademarks are the property of their respective owners Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book 10 Dear Reader, Thank you for choosing PMP: Project Management Professional Exam Review Guide This book is part of a family of premium-quality Sybex books, all of which are written by outstanding authors who combine practical experience with a gift for teaching Sybex was founded in 1976 More than 30 years later, we’re still committed to producing consistently exceptional books With each of our titles, we’re working hard to set a new standard for the industry From the paper we print on, to the authors we work with, our goal is to bring you the best books available I hope you see all that reflected in these pages I’d be very interested to hear your comments and get your feedback on how we’re doing Feel free to let me know what you think about this or any other Sybex book by sending me an email at nedde@wiley.com If you think you’ve found a technical error in this book, please visit http://sybex.custhelp.com Customer feedback is critical to our efforts at Sybex Best regards, Neil Edde Vice President and Publisher Sybex, an Imprint of Wiley To BB, my forever love —Kim Heldman To Al Smith, Jr., whose support and encouragement have given me the ability to greater things —Vanina Mangano Acknowledgments I’d like to thank Vanina for an outstanding job writing this book She was a lifesaver and bore the brunt of the work I enjoyed seeing how she gave the content a fresh face and her illustrations are terrific (Don’t tell her, but I may borrow a few of them for future reference.) It was a pleasure to work with Vanina She was a real trooper through some of the rough starts and stops we had deciding what the content should look like I hope we have the opportunity to work together again in the future I also echo Vanina’s thanks to Jeff Kellum, acquisitions editor This book, and the boxed set, was his brainchild I always enjoy the opportunity to work with Jeff and all the great staff at Sybex I also want to thank Neil Edde, vice president, for taking that leap of faith on a crazy project management study guide idea way back when Thanks, Neil Mary Ellen Schutz, developmental editor, is simply the best She is terrific to work with, and I appreciate her endurance through the bumpy spots we encountered Mary Ellen is a true professional and is excellent at what she does I have had the great pleasure of working with her in the past and hope to work with her again on future projects Thanks to Terri Wagner, technical editor, for her help on this project Terri is the president of Mentor Source, Inc., and conducts training classes all over the globe Her perspective on the content and what she hears in real-life classroom situations helped us to make the content relevant and clear A very big thanks goes to all of the instructors who use my books in their classrooms I appreciate you choosing Sybex, Inc., and my books to help your students master PMP concepts Thank you also to all of the readers who choose this book to help them study for the PMP ® exam —Kim Heldman To start, thank you to the team at Sybex who devoted a great deal of effort toward making this review guide come together successfully It is incredible to see the amount of teamwork and effort that goes into the making of a book The process is certainly thorough, and there are many people not named here who were key to producing a solid product Once again, thanks to all of you! I’d like to thank Kim Heldman for the opportunity of working together on this book It was wonderful to see that your live personality is just as dynamic, warm, and welcoming as your written voice I had a blast getting to know your work in such a detailed way, and I am a bigger fan than ever! Thank you to Jeff Kellum, our acquisitions editor, who saw the value of this book, and whose great and supportive personality always comes through the phone and email I appreciate you welcoming me to the Sybex family, and it was a sincere pleasure working with you A tremendous thank you to Mary Ellen Schutz, developmental editor, who is truly a “Gentle Editor,” as her email signature says You were instrumental in the making of this book and have a patience and method of being that we all strive for! You are extremely good at what you It was wonderful having an opportunity to work with you viii Acknowledgments Thank you to Terri Wagner, technical editor, whose sharp eyes made sure that we were on the ball You were instrumental in making sure that the information was accurate and clearly communicated, and your knowledge of the field is very clear A special thanks to the individuals who are such a big part of my life, and who have always impacted me in a magnificent way This includes my family: Nicolas Mangano, Marysil Mangano, Nicolas Mangano, Jr., Carina Moncrief and her husband Jonathan Moncrief, and my beautiful nieces—you mean everything to me! Thank you to Al Smith, Jr., my partner in all things, who is supportive and an inspiration to me—I enjoy all of our adventures and accomplishments together! And finally, thank you to Roshoud Brown, who always encouraged me to write and inspired me with his own words —Vanina Mangano We both would like to thank Liz Welch, copyeditor, who made sure grammar and spelling were picture perfect; Kathy Pope, proofreader for catching those last little “oops”; and Dassi Zeidel, production editor, who made sure everything flowed through the production process Thanks also to our compositor, Craig Woods, and the indexer, Robert Swanson The book couldn’t happen without them —The Authors Glossary 21 product analysis T his is a description of the product of the project that might include performing value analysis, function analysis, quality function deployment, product breakdown analysis, systems engineering techniques, value engineering, and function deployment techniques to further define and better understand the product or service of the project This is a tool and technique of the Define Scope process product description See product scope description product scope See product scope description product scope description T his is a description of the product features and functionality that describes the characteristics of the end product product verification T his determines whether the work described in the contract was completed accurately and satisfactorily It’s one of the purposes of the Close Procurements process program T his is a grouping of projects that are managed together The individual projects are usually part of one bigger project and are therefore related Program Evaluation and Review Technique (PERT) PERT uses expected value—or weighted average—of critical path tasks to determine project duration by establishing three estimates: most likely, pessimistic, and optimistic The formula for PERT is optimistic + pessimistic + (4 * most likely) / PERT is used when activity duration estimates are highly uncertain program management Program management is the central management and coordination of groups of related projects and operations work to obtain benefits and administer controls that aren’t possible when the projects and operations are managed individually to achieve the program’s strategic objectives progressive elaboration T his is the process of taking incremental steps to examine and refine the characteristics of the product of the project Processes may be progressively elaborated as well project Projects are temporary in nature; have definite start and end dates; create a unique product, service, or result; and are completed when the goals and objectives of the project have been met project boundaries T hese define what is and what is not included in the work of the project They should specifically state what is excluded from the work of the project This is an element of the project scope statement project calendars Project calendars are an input to the Develop Schedule process They define the organization’s working calendar of holidays, shift schedules, and so on project charter T his is an official, written acknowledgment and recognition that a project exists The project charter is issued by senior management and gives the project manager the authority to assign organizational resources to the work of the project 22 Glossary Project Communications Management This is one of the nine Knowledge Areas of project management Project Communications Management ensures proper and timely communications and includes these processes: Identify Stakeholders, Plan Communications, Distribute Information, Manage Stakeholder Expectations, and Report Performance Project Cost Management T his is one of the nine Knowledge Areas of project management Project Cost Management ensures proper cost planning, budgets, and controls and includes these processes: Estimate Costs, Determine Budget, and Control Costs Project Human Resource Management This is one of the nine Knowledge Areas of project management Project Human Resource Management ensures effective use of human resources and includes these processes: Develop Human Resource Plan, Acquire Project Team, Develop Project Team, and Manage Project Team Project Integration Management T his is one of the nine Knowledge Areas of project management Project Integration Management involves coordinating all aspects of the project and includes these processes: Develop Project Charter, Develop Project Management Plan, Direct and Manage Project Execution, Monitor and Control Project Work, Perform Integrated Change Control, and Close Project or Phase project life cycle T his is the grouping of project phases in a sequential order from the beginning of the project to the close project management T his is the process that’s used to initiate, plan, execute, monitor, control, and close out projects by applying skills, knowledge, and project management tools and techniques to fulfill the project requirements project management information system (PMIS) T he PMIS is incorporated as part of the enterprise environmental input to several processes It is an automated or manual system used to document the project management plan and subsidiary plans, to facilitate the feedback process, and revise documents project management Knowledge Areas T hese nine project management groupings— known as Knowledge Areas—bring together common or related processes project management office (PMO) This is the office established by organizations to create and maintain procedures and standards for project management methodologies to be used throughout the organization project management plan T his plan defines how the project is executed, how it’s monitored and controlled, and how it’s closed, and also documents the outputs of the Planning group processes The size and complexity of the project will determine the level of detail contained in this plan project manager This is the person responsible for applying the skills, knowledge, and project management tools and techniques to the project activities in order to successfully complete the project objectives Glossary 23 project plan This is an assortment of documents (outputs from the Planning process group) that constitutes what the project is, what the project will deliver, and how all the processes will be managed The project plan is used as the guideline throughout the project, Executing and Controlling process groups to track and measure project performance and to make future project decisions It’s also used as a communication and information tool for stakeholders, team members, and the management team project presentations Project presentations are part of the organizational process assets updates, which is an output of the Distribute Information process These concern presenting project information to the stakeholders and other appropriate parties Project Procurement Management T his is one of the nine Knowledge Areas of project management Project Procurement Management concerns procurement and contract oversight The processes included in this Knowledge Area are Plan Procurements, Conduct Procurements, Administer Procurements, and Close Procurements Project Quality Management T his is one of the nine Knowledge Areas of project management Project Quality Management ensures that the quality requirements of the project are satisfied The processes included in this Knowledge Area are Plan Quality, Perform Quality Assurance, and Perform Quality Control project records Project records include all information regarding the project, including project reports, memos, project schedules, project plans, and other documents This is an element of the organizational process assets update output of the Distribute Information process project reports This is an element of the organizational process assets update output of the Distribute Information process that includes project information such as the project status reports and minutes from project meetings Project Risk Management This process determines how risks will be managed for a project Project Risk Management Knowledge Area T his is one of the nine Knowledge Areas of project management Project Risk Management is concerned with identifying and planning for potential risks that may impact the project Its processes include Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor and Control Risks project schedule T he project schedule determines the start and finish dates for project activities and assigns resources to the activities project scope T he project scope describes the work required to produce the product or the service of the project This includes the requirements of the product, which describe the features and functionality of the product or service Project Scope Management T his is one of the nine Knowledge Areas of project management Project Scope Management is concerned with the work of the project and only the work that is required to complete the project Its processes include Collect Requirements, Define Scope, Create WBS, Verify Scope, and Control Scope 24 Glossary project scope management plan T he project scope management plan has a direct influ- ence on the project’s success and describes the process for defining project scope and verifying the work of the project It facilitates the creation of the WBS, describes how the product or service of the project is verified and accepted, and documents how changes to scope will be handled project scope statement T he project scope statement documents the project objectives, deliverables, and requirements, which are used as a basis for future project decisions It also includes other elements, such product scope description, project boundaries, product acceptance criteria, constraints, assumptions, project organization, risks, milestones, fund limitations, cost estimate, configuration management requirements, project specifications, and approval requirements project sponsor T his is usually an executive in the organization The project sponsor has the authority to assign resources and enforce decisions regarding the project They are typically the escalation path for issues on a project project statement of work (SOW) T his describes the product or service the project was undertaken to complete It is an input to several processes See also contract statement of work Project Time Management This is one of the nine Knowledge Areas of project management Project Time Management is concerned with estimating the duration of the project plan activities, devising a project schedule, and monitoring and controlling deviations from the schedule Its processes include Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Durations, Develop Schedule, and Control Schedule projectized organization T his is a type of organizational structure focused on projects Project managers generally have ultimate authority over the project Sometimes, supporting departments such as human resources and accounting might report to the project manager Project managers are responsible for making project decisions and acquiring and assigning resources Q qualified sellers lists T hese are lists of prospective sellers who have been preapproved or prequalified to provide contract services (or provide supplies and materials) for the organization Qualified seller lists are part of the selected sellers output of the Conduct Procurements process quality audits Quality audits are independent reviews performed by trained auditors or third-party reviewers The purpose of a quality audit is to identify ineffective and inefficient activities or processes used on the project Audits may also examine and uncover inefficient processes and procedures Glossary 25 quality baseline T he quality baseline is the quality objective of the project and is what’s used to measure and report quality against throughout the project quality metric See operational definition R RACI chart T his is a matrix-based chart that shows types of resources and their responsibilities on the project RACI stands for responsible, accountable, consult, and inform This is a tool and technique of the Develop Human Resource Plan process recognition and rewards T his is a tool and technique of the Develop Project Team process; recognition and rewards systems are formal ways for the management team and the project manager to recognize and promote desirable behavior records management system A records management system is a tool and technique of the Administer Procurements process and involves documenting policies, control functions, and automated tools used to manage project documents and contract documents A records management system is part of the project management information system regulation A regulation is mandatory and typically imposed by governments or institutions Report Performance This process concerns collecting information regarding project progress and project accomplishments and reporting it to the stakeholders, project team members, management team, and other interested parties It also makes predictions regarding future project performance requirements T hese are the specifications of the objective or deliverable that must be met in order to satisfy the needs of the project Requirements might also describe results or outcomes that must be produced in order to satisfy a contract, specification, standard, or other project document (typically the scope statement) Requirements quantify and prioritize the wants, needs, and expectations of the project sponsor and stakeholders reserve time T his is the practice of adding a portion of time (percentage of total time or number of work periods) to an activity to account for schedule risk residual risk T his is a risk that remains after implementing a risk response strategy resource-based method See resource leveling resource breakdown structure (RBS) T his is a hierarchical chart of resources that breaks down the work of the project according to the types of resources needed resource calendars Calendars are an input to the Develop Schedule process Resource calendars refer to specific resources—or categories of resources—and their individual (or group) availability 26 Glossary resource leveling Resource leveling is used when resources are overallocated It attempts to smooth out the resource assignments so that tasks are completed without overloading the individual and without negatively affecting the project schedule Some ways to perform resource leveling include delaying the start of a task to match the availability of a key team member or giving more tasks to underallocated team members Resource leveling is also known as the resource-based method resources Resources include the people, equipment, and materials needed to complete the work of the project responsibility assignment matrix (RAM) T he RAM ties roles and responsibilities with the WBS elements to ensure that each element has a resource assigned reverse resource allocation scheduling T his is a resource-leveling technique used when key resources are required at a specific point in the project and they are the only resources available to perform these activities Reverse resource allocation scheduling requires that the resources be scheduled in reverse order, that is, from the end date of the project rather than from the beginning, in order to assign key resources at the correct time revisions T hese are adjustments to approved schedule start and end dates for activities to coincide with approved changes and/or corrective actions This is another term for schedule updates rework Failing to meet quality requirements or standards might result in rework (performing the work again to make it conform) Rework might increase the project schedule risk breakdown structure (RBS) A n RBS is a graphical way to display risk categories and their subcategories The RBS is an element of the risk management plan risk categories R isk categories systematically identify risks and provide a foundation for understanding The use of risk categories helps improve the Identify Risks process by giving everyone involved a common language or basis for describing risk Risk categories are an element of the risk management plan risk management plan T his describes how risks are defined, monitored, and controlled throughout the project The risk management plan is a subsidiary of the project management plan, and it’s the only output of the Project Risk Management process risk register T his is the output of the Identify Risks process that contains the list of identified risks The risk register is updated, and its update becomes an output of every remaining Risk process risk tolerance R isk tolerance is the level at which stakeholders are comfortable taking a risk because the benefits to be gained outweigh what could be lost, or the level at which risks are avoided because the potential loss is too great Glossary 27 rolling wave planning This is a process of fully elaborating near term WBS work packages and waiting to elaborate later term work packages until more information is known It involves elaborating the work of the project to the level of detail known at the time run chart A run chart is a tool and technique of the Perform Quality Control process that is used to show variations in the process over time A run chart might also show trends in the process S Scatter diagrams S catter diagrams are a tool and technique of the Perform Quality Con- trol process They use two variables—an independent variable, which is an input, and a dependent variable, which is an output—to display the relationship between these two elements as points on a graph schedule baseline T he approved project schedule serves as the schedule baseline that will be used in the Executing and Monitoring and Controlling processes to measure schedule process schedule change control system T his defines how changes to the schedule are made and managed This tracks and records change requests, describes the procedures to follow to implement schedule changes, and details the authorization levels needed to approve the schedule changes schedule compression This is a form of mathematical analysis that’s used to shorten the project schedule without changing the project scope Compression is simply shortening the project schedule to accomplish all the activities sooner than estimated Crashing and fast tracking are two examples of schedule compressions schedule network analysis This technique of Develop Schedule creates the project schedule It uses a schedule model and other analytical techniques such as critical path and critical chain method, what-if analysis, and resource leveling (all of which are other tools and techniques in this process) to help calculate these dates and the project schedule schedule performance index (SPI) T his is a performance index that calculates schedule performance efficiencies: SPI = EV / PV schedule updates S chedule updates are an output of the Control Schedule process and involve adjusting activities and dates to coincide with approved changes and/or corrective actions schedule variance (SV) T his is an earned value analysis technique that determines whether the project schedule is ahead or behind what was planned for a given period of time: SV = EV – PV 28 Glossary scope Scope includes all of the components that make up the product or service of the project and the results the project intends to produce See also product scope and project scope scope creep This is changing the project or product scope without considering the impacts it will have to the project schedule, budget, and resources scope management plan See project scope management plan scope statement See project scope statement scoring model T his is a project selection method used to score and rank project proposals Scoring models might also be used in the Conduct Procurements process screening systems T his is a set of predetermined performance criteria used to screen ven- dors Screening systems are a proposal evaluation technique, which is a tool and technique of the Conduct Procurements process secondary risks T hese are risks that come about as a result of implementing a risk response seller invoices These are requests for the payment of goods or services that should describe the work that was completed or the materials that were delivered Seller invoices are part of the Administer Procurements process seller rating systems Seller rating systems are part of the proposal evaluation tool and technique of the Conduct Procurements process These systems use information about the sellers—such as past performance, delivery, contract compliance, and quality ratings—to determine seller performance sensitivity analysis This is a quantitative method of analyzing the potential impact of risk events on the project and determining which risk events have the greatest potential for impact by examining all the uncertain elements at their baseline values This is a Perform Quantitative Risk Analysis modeling technique Sequence Activities T his process sequences activities in logical order and determines whether dependencies exist among the activities share Share is a Plan Risk Responses strategy for risks that pose an opportunity to the project should cost estimates See independent estimates Six Sigma Six Sigma is a measurement-based strategy that focuses on process improvement and variation reduction by applying Six Sigma methodologies to the project Six Sigma is a quality management approach that is similar to TQM and is typically used in manufacturing and service-related industries slack time T his is the amount of time you can delay the early start of a task without delaying the finish date of the project This is also known as float time Glossary 29 smoothing Smoothing is a conflict resolution technique that is a temporary way to resolve conflict where someone attempts to make the conflict appear less important than it is soft logic See discretionary dependencies stakeholder T his is an organization or person who has a vested interest in the project and stands to gain or lose something as a result of the project standard A standard employs rules, guidelines, or characteristics that should be followed They are not mandatory but should be considered when developing the quality management plan starvation T his is a type of project ending where financial or human resources are cut off from the project statement of work (SOW) The statement of work describes the product, service, or result the project was undertaken to complete If the project is performed internally to the organization, this document is usually written by either the project sponsor or the initiator of the project When the project is external to the organization, the buyer typically writes the SOW The SOW should consider the business need for the project, the product scope description, and the organization’s strategic plan statistical sampling T his means making a sample number of parts from the whole population and examining them to determine whether they fall within the variances outlined in the quality management plan Statistical sampling is a tool and technique of the Perform Quality Control process status review meetings Status review meetings are a component of the Report Performance process The purpose of status meetings is to provide updated information regarding the progress of the project They are not show-and-tell meetings steering committee T his is a group of high-level managers or executives in the organization who manage project prioritization and various project decisions The steering committee typically represents functional areas or departments within the organization successor activities T hese are activities that follow predecessor activities T tailoring This means determining which processes and process groups should be performed for the project The project manager and project team should take into consideration the size and complexity of the project and the various inputs and outputs of each of the processes when determining which ones to perform It’s generally accepted that performing all five process groups is good practice for any project team building Team building activities are a tool and technique of the Develop Project Team process They involve getting a diverse group of people to work together in the most efficient and effective manner possible 30 Glossary technical performance measurements These measurements are usually determined during trend analysis (which is used with the run chart tool and technique of the Perform Quality Control process) to compare the technical accomplishments of project milestones completed to the technical milestones defined in the project Planning processes Theory X T his is a motivational management theory that proposes that most people not like work and will try to steer clear of it It postulates that people have little to no ambition, need constant supervision, and won’t actually perform the duties of their job unless threatened Theory Y T his is a motivational management theory that proposes that people are interested in performing their best given the right motivation and proper expectations three-point estimates T hree-point estimates are a tool and technique of the Estimate Activity Durations process used to determine activity estimates The three estimates are the most likely estimate, an optimistic estimate, and a pessimistic estimate time and materials (T&M) contract T his is a type of contract that is a cross between the fixed-price contract and the cost-reimbursable contract Preset unit rates are agreed to at contract signing, but costs are charged to the buyer as they’re incurred time-phased budget T he cost performance baseline is the authorized time-phased budget for the project Time-phased budgets disburse funds at different periods throughout the life of the project to-complete performance index (TCPI) T he to-complete performance index (TCPI) is the projected performance level the remaining work of the project must meet in order to satisfy a management goal, such as meeting BAC or EAC tolerable results T hese are quality measurements that fall within a specified range Toler- able results are a concern of the Perform Quality Control process These are also known as tolerances top-down estimating See analogous estimating tornado diagram This is a diagramming method for sensitivity analysis data The variables with the greatest effect on the project are displayed as horizontal bars at the top of the graph and decrease in impact as they progress down through the graph This gives a quick overview of how much the project can be affected by uncertainty in the various elements and which risks have the greatest impact on the project total float T his is the amount of time the earliest start of a task can be delayed without delaying the ending of the project Total Quality Management (TQM) W Edwards Deming is considered the founder of TQM This quality theory states that the process is the problem, not people TQM stipulates that quality must be managed and that quality improvement should be a continuous process, not a one-time task Glossary 31 training T his tool and technique of the Develop Project Team process improves the com- petencies of the project team members transfer Transference is a strategy for negative risks or threats, which is a tool and technique of the Plan Risk Responses process This strategy transfers the consequences of a risk to a third party Insurance is an example of transference triggers T hese are risk symptoms that imply a risk event is about to occur Triggers can also be referred to as symptoms or warning signs V variance at completion (VAC) T his is an earned value analysis technique that calculates the difference between the budget at completion (BAC) and the estimate at completion (EAC): VAC = BAC – EAC Verify Scope T his process formalizes the acceptance of the project scope and is primarily concerned with the acceptance of work results virtual teams Virtual teams are teams that don’t necessarily work in the same location but all share the goals of the project and have a role on the project This type of team allows the inclusion of resources from different geographic locations, those who work different hours or shifts from the other team members, those with mobility limitations, and so on W weighted scoring model See weighting system weighting system T his is a way to rank and score vendor proposals or project proposals Weighting systems assign numerical weights to evaluation criteria and then multiply this by the weight of each criteria factor to come up with total scores for each project or vendor These systems keep personal biases to a minimum withdrawal T his conflict resolution technique occurs when one of the parties gets up and leaves and refuses to discuss the conflict This never results in resolution work authorization systems Work authorization systems clarify and initiate the work of each work package or activity This is a formal procedure that authorizes work to begin in the correct sequence and at the right time Work authorization systems are usually written procedures defined by the organization These are used in the Executing processes of the project work performance information Work performance information is an input to the Admin- ister Procurements process Work performance information is used to monitor work results and examine the vendor’s deliverables, and compares their work results against the project management plan It also makes certain activities are performed correctly and in sequence 32 Glossary workaround T his is an unplanned response to a risk event that was unknown and unidentified or an unplanned response to a risk that was previously accepted Workaround plans are an element of the Monitor and Control Risks process Z zero defects Zero defects is a quality theory attributed to Philip B Crosby Zero defects means to perform the task right the first time to avoid engaging in rework, loss of productivity, and increased costs Imagine Certified professionals coming to you to teach Project Management Training available at the click of a mouse The PMP Certification Process Terri Project Manager Street Smarts TerriWagner Wagnerco-author co-authorof Project Manager Street Smarts You chose how you learn, Mentor Source provides the tools For online or onsite project management training, coaching or consulting programs: www.Mentor-Source.com or info@mentor-source.com Trainer resources also available 24/7 Online Training Programs from noted authors & subject matter experts Sybex has everything you need to prepare for the PMP exam ® ® PMP: Project Management Professional Exam Study Guide, 5th Edition 978-0-470-45558-6 • US $59.99 • Comprehensive study aid for the upcoming PMP exam features Real World Scenarios and How This Applies to Your Current Project sidebars to put your exam preparation into context • Enhanced CD contains over hours of audio instruction, as well as practice exams, flashcards, and the entire book in PDF format Project Manager Street Smarts: A Real World Guide to PMP Skills 978-0-470-47959-9 • US $29.99 • This perfect companion to any PMP study tool gives the reader an inside look into the field of project management, offering a variety of scenarios as well as potential roadblocks one might face, and how to overcome them • Step-by-step instruction on how to perform most common and challenging tasks that Project Managers face PMP: Project Management Professional Exam Review Guide 978-0-470-47958-2 • US $29.99 • Focused, concise review guide that works hand-in-hand with any PMP study tool • CD features practice exams, flashcards, and a glossary of key terms PMP: Project Management Professional Exam Kit 978-0-470-47960-5 • US $109.97 • Value-priced box set includes PMP Study Guide, Street Smarts, and Review Guide Everything you need to prepare for the PMP Exam • Save $10 over the price of purchasing each book individually Study Practice Review And approach your exam with confidence Go to www.sybex.com for more information Wiley, Sybex, and related logos are registered trademarks of John Wiley & Sons, Inc PMP is a registered trademark of Project Management Institute, Inc THE PERFECT COMPANION TO SYBEX’S PMP: PROJECT MANAGEMENT PROFESSIONAL EXAM STUDY GUIDE, FIFTH EDITION Get the extra practice you need with this interactive CD that includes two bonus exams, electronic flashcards, and a searchable database of key terms Approach the Project Management Professional Exam with confidence Before you take the Project Management Professional (PMP) Exam, reinforce your test prep with this concise guide that reviews all six exam domains: Initiating the Project, Planning the Project, Executing the Project, Monitoring and Controlling the Project, Closing the Project, and Professional and Social Responsibility You’ll find full coverage of all exam objectives, plus a CD packed with additional study tools • Concise, easy-to-use book is organized by exam objectives for quick review • Flexible review guide goes hand-in-hand with any learning tool on the market, including PMP: Project Management Professional Exam Study Guide, Fifth Edition, and Project Manager Street Smarts, both from Sybex • “Exam Essentials” section in each chapter helps you zero in on what you need to know • The book and CD include more than 120 review questions ABOUT THE AUTHORS Kim Heldman, PMP, is the Chief Information Officer for the Colorado Department of Transportation She has over 19 years of experience in project management and consulting Kim is the author of several books on project management, including all editions of the bestselling PMP: Project Management Professional Exam Study Guide Vanina Mangano, PMP, is a trainer and consultant who works with start-ups ranging from overseas tech companies to recreation and fitness Previously, she served as vice president of business development for BHNET Software Solutions WWW.SYBEX.COM ISBN: 978-0-470-47958-2 $29.99 US $35.99 CAN COMPUTERS/CERTIFICATION/PROJECT MANAGEMENT

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[Kim Heldman, Vanina Mangano] PMP Project Management Professional Exam Review Guide

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PMP: Project Management Professional Exam Review Guide

Acknowledgments

About the Authors

Contents at a Glance

Contents

Introduction

Chapter 1: Foundation of a Project

Defining a Project

Defining Project Management

Project Management Skills

Understanding Organizational Structures

Understanding the Project Environment

Project Life Cycles and Project Management Processes

Review Questions

Answers to Review Questions

Chapter 2: Initiating

Introducing the Project Management Knowledge Areas

Initiating a Project

The Project Charter

Identify Stakeholders

Bringing the Processes Together

Review Questions

Answers to Review Questions

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