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Cornelius Fichtner help you with your PMP Exam Prep (https://www.project-management-prepcast.com) as well as earn free PDUs (www.pm-podcast.com/pdu). Passing the PMP Exam is tough, but keeping your PMP Certification alive is just as challenging. Preparing for the exam requires an in-depth study of the PMBOK Guide and dedicated study discipline. And once you are PMP certified, then you are required to earn 60 Professional Development Units (PDUs) every 3 years to keep your certification alive. Let me help you make this journey easier with tips and tricks on how to prepare for and pass the exam as well as efficiently earning your PDUs once you are certified.
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Episode 549: How to Bring Clarity to Chaotic Projects

Episode 548: From Project Delivery to Value: How Project Managers Create Real Business Impact

Episode 546: The Real Reason Project Requirements Keep Changing

Episode 544: The Four Pillars of Project Success

Episode 543: Catch Project Trouble Early and Protect Your Delivery

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Free PMP Exam Sample Question

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The following PMP® exam sample question is taken from The Free PMP Exam Simulator at http://free.pm-exam-simulator.com - The answer is at the very bottom:



In which type of contract is the seller reimbursed for performing the contract work and
receives a fixed fee payment calculated as a percentage of the estimated project cost?

A) Cost–plus-fee contract

B) Lump-sum contract

C) Cost-plus-fixed-fee contract

D) Cost-plus-incentive-fee contract



All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try The PMP Exam Simulator free for 3 days. We also offer 110 free questions at http://www.free-pm-exam-questions.com. We are a PMI Registered Education Provider.



The Correct Answer is C.

Posted on: June 05, 2011 06:18 PM | Permalink | Comments (0)

Free PMP Exam Sample Question

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The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:
 

 

The method of constructing a project schedule network diagram that represents activities and connects them to show the dependencies is known as:
 

A) Arrow diagramming method
B) Schedule network templates
C) Precedence diagramming method
D) Activity list



All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try it for 3 days. We are a PMI Registered Education Provider.

 

The Correct Answer is C.

Posted on: May 20, 2011 06:37 AM | Permalink | Comments (0)

PMP Exam Tip: Crashing & Fast Tracking explained...

Categories: PMP Exam Tip

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Crashing and fast tracking are techniques used in schedule compression.  Schedule compression is used when the desired result is to create output faster than indicated in the original project, without having to change the project scope.  This is particularly beneficial if a competitor is working on the same type of project and you need to finish first. It may also be a company decision to complete a project more quickly than originally scheduled based on various factors.

The two techniques used for this process are referred to as crashing or fast tracking.

Crashing: When the crashing approach is used, any additional costs associated with rushing the project are reviewed against the possible benefits of completing the project on a faster timeline.  Additional items to consider when using the crashing approach include adding more resources for the project, allowing additional overtime, paying extra to receive delivery of critical components more quickly, etc. Crashing only works, when adding more resources will lead to a faster completion of a project. For instance crashing will not work by adding more resources to "the concrete in the foundation has to dry for 3 days".

Fast Tracking: Fast tracking is applied by re-scheduling various activities within the project to be worked on simultaneously instead of waiting for each piece to be completed separately.  This method is best used when activities can be overlapped. The risk involved is that problems can occur if parallel aspects of the project include dependencies. So if you work on design and production at the same time your risk is that you need to rework production if the design is change half way through the process.

Posted on: May 19, 2011 07:17 AM | Permalink | Comments (0)

Free PMP Exam Sample Question

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The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:
 

Question: You are managing a construction project. You have just been intimated that it is likely to rain heavily during the next week. This can delay your project by a week and you will miss a deadline. This risk will cost you a potential impact of $50,000 if it happens. The probability of the occurrence of this risk is 75%. What is the expected value for this risk?                                                                                                                  

                                                                                                                                   

            A.        37500                                                                                                 

            B.        -37500                                                                                                

            C.        50000                                                                                                 

            D.        -50000                                                                                                

                                                                                                                                   

Hint:

Calculate the expected value by EMV formula. Also note that threats are treated as negative numbers.               



All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try it for 3 days. We are a PMI Registered Education Provider.

 

Explanation:

   EMV for a risk is calculated by multiplying the value of its impact by its probability of occurrence. This will result in 75% * -$50,000 = -$37,500.

 

The Correct Answer is D.

Posted on: May 07, 2011 09:18 AM | Permalink | Comments (1)

Free PMP Exam Sample Question

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The following PMP® exam sample question is taken from http://www.free-pm-exam-questions.com - The answer is at the very bottom:



During which phase of the project would you suggest the integrated change control
process?

A) Throughout the project
B) Initiation
C) Closure
D) Intermediate



All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try it for 3 days. We are a PMI Registered Education Provider.
 


The Correct Answer is A.

Posted on: May 01, 2011 04:25 AM | Permalink | Comments (0)
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