PMP Review Exam Guide

640 Pages·2013·3.29 MB·English

All-in-1 / CAPM/PMP Project Management Certification All-in-One / Phillips / 177604-4
ALL IN ONE
® ®

CAMP /PMP
Project Management
Certification
EXAM GUIDE
Third Edition
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All-in-1 / CAPM/PMP Project Management Certification All-in-One / Phillips / 177604-4
About the Author
Joseph Phillips, PMP, Project+, CTT+, is the Director of Education for Instructing.com.
He has managed and consulted on projects for industries including technical, pharma-
ceutical, manufacturing, and architectural, among others. Joseph has served as a project
management consultant for organizations creating project offices, maturity models,
and best-practice standardization.
As a leader in adult education, Joseph has taught organizations about information
technology project management, risk management, and how to successfully implement
project management methodologies, as well as many other courses. He has taught at
Columbia College, the University of Chicago, Ball State University, and for corporate
clients like IU Health, the State of Indiana, and Chase Bank. A Certified Technical Train-
er, Joseph has instructed more than 12,000 professionals and has contributed as an au-
thor or editor to more than 35 books on technology, careers, and project management.
Joseph is a member of the Project Management Institute and is active in local proj-
ect management chapters. He has spoken on project management, project manage-
ment certifications, and project methodologies at numerous trade shows, PMI chapter
meetings, and employee conferences in the United States and in Europe. When not
writing, teaching, or consulting, Joseph can be found behind a camera or on the work-
ing end of a fly rod. You can contact him through www.instructing.com.
About the Technical Editor
James A. Ward, principal consultant with James A. Ward & Associates, Inc., manages a
practice specializing in information technology project management, business systems
analysis, technical writing, and PMO implementation. His services are highly sought
after for interim IT management and implementation of quality and process improve-
ment initiatives. His seminars and workshops in project management, PMP exam prep-
aration, quality improvement, requirements definition, project risk management, and
Microsoft Project are always well attended and highly recommended by his clients. He
is a frequent speaker at IT and project management conferences and has written numer-
ous articles for professional journals.
He holds an MBA in finance from the University of Chicago, and bachelor’s degrees
in economics and mathematics from the University of Minnesota. He is a PMP-certified
project manager. He resides in Richmond, Virginia, and can be reached via e-mail at
All-in-1 / CAPM/PMP Project Management Certification All-in-One / Phillips / 177604-4
ALL IN ONE
® ®

CAMP /PMP
Project Management
Certification
EXAM GUIDE
Third Edition
Joseph Phillips
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All-in-1 / CAPM/PMP Project Management Certification All-in-One / Phillips / 177604-4
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CAPM®/PMP® Project Management Certification All-in-One Exam Guide, Third Edition
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For my sweetheart, Natalie.
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CONTENTS AT A GLANCE
Part I Project Management Foundation . . . . . . . . . . . . . . . . . . . . . . 1
Chapter 1 Preparing for the Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Chapter 2 Managing a Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Chapter 3 Examining the Project Processes . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
PART II Project Management Professional Testing Areas . . . . . . . . . . 127
Chapter 4 Project Integration Management . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Chapter 5 Managing the Project Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Chapter 6 Managing Project Time . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207
Chapter 7 Managing Project Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259
Chapter 8 Managing Project Quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303
Chapter 9 Managing Project Human Resources . . . . . . . . . . . . . . . . . . . . . . . . 337
Chapter 10 Managing Project Communications . . . . . . . . . . . . . . . . . . . . . . . . . 379
Chapter 11 Managing Project Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 409
Chapter 12 Managing Project Procurement . . . . . . . . . . . . . . . . . . . . . . . . . . . . 457
Chapter 13 Managing Project Stakeholder Management . . . . . . . . . . . . . . . . . . 495
Chapter 14 Understanding the Code of Ethics and Professional Conduct . . . . 527
Part III Appendices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 551
Appendix A Project Management Documents . . . . . . . . . . . . . . . . . . . . . . . . . . 553
Appendix B Passing the CAPM and the PMP Exam . . . . . . . . . . . . . . . . . . . . . . 565
Appendix C About the CD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 579
Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 583
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 615
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CONTENTS
Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxxi
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxxiii
Part I Project Management Foundation . . . . . . . . . . . . . . . . . . . . . . 1
Chapter 1 Preparing for the Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
All about the PMP Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
All about the CAPM Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Money and Your Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Passing the Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Creating Your Study Strategy . . . . . . . . . . . . . . . . . . . . . . . . . 10
What Your Exam Is Based On . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
What Is a Project? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Temping a Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Defining a Project’s Uniqueness . . . . . . . . . . . . . . . . . . . . . . . 16
Progressively Elaborating a Project . . . . . . . . . . . . . . . . . . . . . 17
Why Do Projects? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
What Is Project Management? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Back to the PMBOK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Being a Project Expert . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Using the Project Management Body of Knowledge . . . . . . . 22
Working with Your Application Area . . . . . . . . . . . . . . . . . . . 22
Understanding Your Project Environment . . . . . . . . . . . . . . . 22
Relying on General Management Skills . . . . . . . . . . . . . . . . . 23
Dealing with People . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Examining the Project Management Context . . . . . . . . . . . . . . . . . . 25
Working with Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Opening Your Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Working with Subprojects . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Working with Project Management Offices . . . . . . . . . . . . . . 26
Chapter Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Key Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Questions and Answers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Chapter 2 Managing a Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Identifying the Project Life Cycle . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Examining a Project Life Cycle . . . . . . . . . . . . . . . . . . . . . . . . 42
Comparing Project Life Cycles and Product Life Cycles . . . . . 44
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Meeting the Project Stakeholders . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Key Project Stakeholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Managing Stakeholder Expectations . . . . . . . . . . . . . . . . . . . . 48
Identifying the Organizational Influences . . . . . . . . . . . . . . . 49
Completing Projects in Different Organizational Structures . 50
Managing Project Teams . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
Working with Your PMO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Defining a Project Management System . . . . . . . . . . . . . . . . . 55
Chapter Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Key Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Case Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Managing Projects from Start to Completion . . . . . . . . . . . . . 58
Examining the Project Deliverables . . . . . . . . . . . . . . . . . . . . 58
Examining the Project Phases . . . . . . . . . . . . . . . . . . . . . . . . . 59
Controlling Project Changes . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Questions and Answers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
Chapter 3 Examining the Project Processes . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Exploring the Project Management Processes . . . . . . . . . . . . . . . . . 76
Examining the Process Group Interactions . . . . . . . . . . . . . . 77
Choosing the Appropriate Processes . . . . . . . . . . . . . . . . . . . 78
Working with Process Groups . . . . . . . . . . . . . . . . . . . . . . . . 79
Initiating Your Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Planning the Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
Executing Processes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97
Examining the Monitoring and Controlling Process Groups 102
Closing the Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
Examining How the Processes Interact . . . . . . . . . . . . . . . . . . 110
Chapter Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
Key Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115
Questions and Answers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119
PART II Project Management Professional Testing Areas . . . . . . . . . . 127
Chapter 4 Project Integration Management . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Developing the Project Charter . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130
Preparing to Create the Project Charter . . . . . . . . . . . . . . . . . 131
Choosing a Project to Charter . . . . . . . . . . . . . . . . . . . . . . . . 134
Knowing the Project Management Methodology . . . . . . . . . . 139
Creating the Charter—Finally . . . . . . . . . . . . . . . . . . . . . . . . . 139
Developing the Project Management Plan . . . . . . . . . . . . . . . . . . . . 140
Creating the Project Management Plan . . . . . . . . . . . . . . . . . 141
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