A risk register for PMP Prep project

  1. Choosing the trainer 
    1. Choose the best trainers who can explain the concepts from a practitioner’s perspective with real life examples. This will make the training (understanding 756 pages of PMBOK version 6) interesting and easy to recollect. Good trainers can make the preparation easier and interesting.
    2. The structure of the training is very important. If the topics are covered knowledge area wise, then it is very difficult to recollect. Go for trainers who teaches process group wise (initiation, planning, execution, monitoring and controlling, closing). That is easy to understand and remember.
  2. Preparing for the exam  
    1. Spending too much effort in understanding Inputs, Tools and techniques, Outputs (ITTO). It is humanly impossible to remember these for all the 49 processes. One may get some questions around these for the exam, and at the same time it is not a good decision to spend too much time and effort just to remember these. A good trainer and training method will help you to logically reason this out to a great extent.
    2. There is no dearth of free advise for PMP preparation. Each free advise may add another five hundred pages to your preparation load. Be careful enough to check the credibility of the source of information.
    3. Knowledge of the project management good practices as defined within PMBOK is mandatory. Read PMBOK thrice. First reading for a quick understanding. Second reading a detailed one with notes preparation of all the difficult to remember stuff. The third reading is just revision of notes.
    4. Whatever may be your experience and knowledge about project management, exam practice is inevitable to achieve the PMP credential. Instead of practicing several mock exams, choose the one which is more similar to the real PMP exam. Practice the tests several times till you score above 80 percentage. While doing the exam practice, one will be aware of the strong and weak areas. Go back to PMBOK and revise those portions again.
    5. Professionals from the information technology domains are generally weak in risk management and procurement management where as those from EPC projects are weak in human resource management, quality management.
  3.  Registering for the exam 
    1. Many do not write the exam, because there is no deadline for their PMP project. Registering for the exam will provide you with a target date. In the worst scenario, PMI allows you to reschedule the exam three times with prior notice.
    2. While registering for the exam, sometimes PMI audits your application. This is a very random process by PMI, hence there is no reason to worry.
  4. Writing the exam 
    1. Nobody ever writes an exam with hundred percentage confidence. So is the case with PMP. If you are scoring above 80% consistently during your practice exams, take a calculated risk and go ahead.
    2. If you are a person who can perform better under pressure (like me), then go and advertise about your PMP certification to everyone, thus creating that peer pressure which will help you to finish it off in flying colours.
    3. If you are a person who cannot perform under pressure, like many, then keep your PMP project confidential. Advertise after becoming a PMP.
    4. Do not expect the exam center to be as comfortable as your office. Sometimes it can be very cold inside, and you have to spend around four hours there. Go with some warm clothes. Coffee may or may not be available. If it is a must, go with a flask full of coffee. These are hygiene factors, which may demotivate you, if not available.
    5. Reach the venue early, so that you can approach the exam with normal blood pressure.
    6. The exam tests your ability to answer to the question. So, it becomes important to understand the questions before choosing the most correct answer from a set of almost correct answers. Read the questions word by word. If you are in a hurry while reading the question, then you will end up reading it again. So read it carefully the first time itself.
    7. You will have to answer 200 questions in 240 minutes (4 hours). That sounds like a photo finish. Actually there is amble time. Some questions you will take only seconds to answer and the time saved can be used for difficult questions.
    8. If you find some questions as very difficult to answer, then you can mark them for later. Towards the end of the test, these questions will come back to you for answering. If you are lucky, you may get pointers to answer the skipped questions from the subsequent questions.
    9. There are no negative marks. So, do not leave any question unattended. If you do not have the answer, then gamble a bit.
    10. Artificial intelligence is built into the exam engine. If you answer a series of difficult questions correctly then the questions gets tougher and tougher for you till you make a mistake. Once you make a mistake then the questions get easier. When the going gets tough, please remember that you are doing well and hang on for the entire four hours.
    11. After all, it is just another exam. You might have completed forty to fifty exams successfully for your graduation. Do not glorify the PMP exam too much and make it as difficult as your graduation. Have the realization that it is only as difficult as one paper of your graduation.
  5. After the exam 
    1. Tell everyone that you passed the PMP exam
    2. Publish posts about ‘How to prepare for PMP’
    3. Tell everyone that it was very difficult, so that you get better value for your credential.

PMP, PMBOK are registered trademarks of the Project Management Institute (PMI, USA)

 

About the author of this post 

Abrachan Pudussery is a seasoned trainer/coach/mentor  of  predictive and adaptive project management. The Pmdistilled project management training (classroom and online)  program delivered by him has benefited nearly twenty thousand professionals across the globe during the last one decade.

Contact 

Estimation of cost using Work breakdown structure (WBS), Delphi and 3 point

Project estimation are of two types. Cost / Effort estimation and project duration estimation. As discussed earlier, work breakdown structures provides us with the breakup of work and at the same time do not provide us with the sequence in which the work has to be performed. Hence work breakdown structures are good enough to perform cost estimation. In I.T projects, since the major contributor to cost is the manpower cost, the term cost and effort are used,and they point to the cost estimate. In other domains like civil, electrical, mechanical etc the project cost include manpower, material and equipment costs. Project estimation happens during pre-sales (early) stage and during detailed project planning. During the early stages of project we have to arrive at the cost estimates using the WBS, as task level details will not be available. Wide band delphi technique, along with the three point estimation technique is the most widely used techniques for early project estimation.

Three point estimate

For every work package, three estimates are derived at;

  • Optimistic (most aggressive) (O)
  • Pessimistic (most generous) (P)
  • Most likely (most probable)  (M)

Then a single point estimate is arrived at by using the formula (O+4M+P)/6

For example, If you are traveling from Point A to Point B and if;

Optimistic estimate is 1 hour

Pessimistic estimate is 3 hours

Most likely estimate is 2 hours

Then the single point estimate is (1+4×2+3)/6 = 12/6 = 2  hours

How the delphi technique is used in project estimation?

  • The work packages to be estimated are explained to a group of experts who have the domain knowledge
  • The experts derive the optimistic, pessimistic and most likely estimates without discussing among themselves
  • After the estimation, they explain their individual estimates to the rest of the estimation team
  • The estimation team converges into one set of optimistic, pessimistic and most likely values based on mutual consensus. Averages and voting are not allowed as the estimates from the minorities can be right.
  • From the agreed upon three point estimates, a single point estimate is arrived
  • These steps gets repeated for each and every work packages of the projects
  • The sum total of the estimates of all the individual work packages is the project’s estimate.

 

Our on the job project management training helps the participants to master the project management best practices (predictive and agile) by applying them in their real life projects under the guidance of highly experienced project management mentors. These on the job trainings will help you to gain PDUs. 

For more details contact us

Congratulations Shashi PMP

Hi Abrachan,

Yesterday I took my PMP exam and I cleared it. Thanks a lot for all the support you have provided through out.
Your method of teaching made the entire curriculum look easy. I was able to understand every bit of it. The face to face interaction with you makes it more easy.Thank you for making yourself available as and when I needed to go over be it same topics or new topics or just to answer my questions on the already covered topics. In your method i dint have to by-heart any aspect of the PMBOK. One good thing about your method is we will be going over the
entire PMBOK at least once.
The vast curriculum of PMBOK makes it very difficult to even start the study. With so many reference books available we can easily get lost in picking the right path for the certification. But your method clearly defines a path and if we just follow it we can easily not only get certified but also gain and improve on our Project Management knowledge.
With your class and using Rita’s book as reference and answering all the question in the Rita’s book was more than sufficient to give the exam and clear it.
Thanks a lot of all the help you provided.
Thanks & Regards,

Shashi

Organizational structures and their impact on stakeholder management

Organizational structures can be broadly classified into;

  • Functional organization
  • Matrix organization
    • Strong matrix
    • Weak matrix
    • Balanced matrix
  • Projectized organization
  • Composite organization

Functional organization

Most of the manufacturing / service organizations are divided functionally. Each function will have a head, who in turn reports to the CEO. For example an automobile manufacturer will have functions  like;

  • Manufacturing
  • Sales & Marketing
  • Research and development
  • Procurement
  • Finance
  • Human resources etc..

Each of these functions are headed by a senior manager (functional managers), who in turn report to the CEO.

Matrix Organization 

In matrix organizations, the team members report to more than one boss. Team members may report to the project manager for the project related activities, and to the functional manager for specific function related activities. For example, a technical architect in a project may report to the project manager for project related activities and at the same time report to the Chief Technology officer (CTO) for technology related stuff. Most of the product companies, which calls for multi-disciplinary skills to develop the product of the project falls into this category.  Matrix organizations are further subdivided into;

  • Strong matrix (Project managers have more authority than the functional managers)
  • Weak matrix (Functional managers have more authority than the project managers)
  • Balanced matrix (Both the functional manager and the project manager have the same authority levels.

Projectized organizations

In projectized organizations, whatever they do is a project. For example; I.T projects companies, Civil projects companies etc. They perform projects after projects. Project manager and the teams are the breadwinners of the organization. Project managers have maximum authority levels in projectized organizations. In projectized organizations, all other functions play the support role to the project.

Composite organizations 

Composite organizations have a combination of functional, matrix and projectized structure.

A through understanding of the stakeholder’s (customers, suppliers and your own organization) organizational structures will help in accurate mapping of the stakeholders into;

  • High power – high interest
  • High power – low interest
  • Low power –  high interest
  • Low power – low interest

Examples

  • Project managers in functional organizations have very low authority levels
  • Functional managers have more authority than the project managers in functional organizations
  • Project managers have maximum authority in projectized organizations
  • In matrix organizations, the power of the project manager and the functional manager varies based on whether it is a ;
    • Strong matrix
    • Weak matrix
    • Balanced matrix

This knowledge will help us to go beyond what is drafted in the contractual documents and manage key stakeholders very effectively.

The following videos explains this further

Why proper stakeholder identification is a critical success factor for your project?

Anybody who is affected positively or negatively, by doing a project or by delaying a project is a stakeholder. Identifying the key stakeholders upfront helps to capture and manage their expectations proactively. For any given project the direct stakeholders are;

  • Sponsor (customer) of the project
  • Project manager
  • Delivery head
  • Team
  • End users of the product of the project
  • Business analysts
  • Product owner

The indirect stakeholders list can be very vast, and at the same time identifying and managing the indirect stakeholders is key to the project’s success.  It is very difficult to come out with a universal list of indirect stakeholders. Here is a sample;

  • Families of team members (If they are unhappy, most probably the team member may resign her job soon)
  • Competitors (They can recruit some of your key team members)
  • End users of competitors products (Customer complaints, especially against your competitor’s products is very useful)
  • Intellectual property bodies (do not violate them knowingly or unknowingly)
  • Government agencies (must manage well)
  • Trade unions (be careful, if your product is going to disrupt an existing market. Online taxi operators like Uber, Ola  Vs traditional taxi operators, Amazon Vs traditional shops)
  • Product review groups (social media) (Most of them are paid reviewers. Do not forget to budget for them)
  • Any other groups (Even the name of your project / product should not harm anyone’s culture, religion etc…)
  • Any citizen (farmers, drivers, pedestrians, vehicle owners…anyone) who is affected negatively during or after the project.

It is worth spending time to identify the key stakeholders and their impact on your project / product individually and collectively, at the beginning of the project and throughout the project.

Once the stakeholder list is prepared, the next logical step is to group them into;

  • High power, high interest group
  • High power, low interest group
  • Low power, high interest group
  • Low power, low interest group

and develop strategies to maintain a high degree of stakeholder interest in your project / product (stakeholder engagement). If all the key stakeholders are happy during and after the project, your project is a success story.

Reference stakeholder mapping 

Project management – On the job training

I am delighted to announce PM-OJT (on the job) training. We invite individuals and groups to this on the job learning experience.

This course is for those who want to really master professional project management as defined by PMI (Project Management Institute, USA)  , and then go for PMP certification.   The participant chooses a real project from his/her work environment, and under the guidance of the coach, applies the professional project management concepts in a real life environment.  If the participant is unable to identify a project from their work environment, they will work on a hypothetical project case provided to them.

Who should attend?

  • Team leads
  • Fresh project managers
  • Experienced project managers who want to learn project management as per the project management body of knowledge
  • Those who are preparing for the PMP certification

Course outline

Iteration#1 – Master project initiation

Iteration#2 – Master project scope definition

  • Tools and techniques for scope elaboration,base lining, estimation and tracking
    • Product breakdown structure
    • Work breakdown structure
    • Estimation of effort using the work breakdown structure
      • Analogous estimation
      • Parametric estimation
      • Three point estimation
      • Application of wide band delphi technique in estimation
  • Assignment#2

Iteration#3 – Learn to develop the schedule

  • Decomposing the work packages into activities
  • Performing bottom up estimation
  • Sequencing the activities
  • Critical path
  • Optimizing the schedule
    • Crashing
    • Fast tracking
    • Leads and lags
  • Assignment#3

Iteration#4 – Learn to develop the subsidiary plans

  • Integration management plan
  • Scope management plan
  • Schedule management plan
  • Cost management plan
  • Quality management plan
  • Human resource management plan
  • Communications management plan
  • Risk management plan
  • Procurement management plan
  • Stakeholder engagement plan
  • Assignment#4

Iteration#5 – Master Project execution

  • Acquire resources
  • Execute work
  • Manage project knowledge
  • Manage quality
  • Manage communications
  • Implement risk responses
  • Conduct procurements
  • Manage stakeholder engagement
  • Assignment#5

Iteration#6 – Learn to Monitor and control project work

  • Monitor and control project work
  • Perform integrated change control
  • Validate scope
  • Control scope
  • Control schedule
  • Control costs
  • Control quality
  • Control resources
  • Monitor communications
  • Monitor risks
  • Control procurements
  • Monitor stakeholder engagement
  • Assignment#6

Iteration#7 – Learn to formally close project / phases 

  • Close project or phase
  • Assignment#7

Interation#8 – Get an introduction to agile project management

Iteration#9 – Things we did not discuss so far which are very important for the PMP exam preparation

Iteration#10 – Exam practice

For more information, contact us