PMP Certification Questions

A Project is a temporary endeavour undertaken to create a unique product, service or result.

Characteristics:

1.Temporary 

    Temporary means that every project has a definite beginning and a definite end.

2. Unique Products, Services or Results

   Uniqueness is an important characteristic of project deliverables. For example, many thousands of office buildings have been developed, but each individual facility is unique - different owner, different design, different location, different contractors, and so on.

3. Progressive Elaboration

   Progressive elaboration means developing in steps, and continuing by increments . For example, the project scope will be broadly described early in the project and made more explicit and detailed as the project team develops a better and more complete understanding of the objectives and deliverables.

I. Inputs

• Project management plan


• Requested changes


• Work performance information


• Recommended preventive actions


• Recommended corrective actions


• Recommended defect repair


• Deliverables

II. Tools and Techniques

• Project management methodology


• Project management information system


• Expert Judgment

III. Outputs

• Approved change requests


• Rejected change requests


• Project management plan(updates)


• Project scope statement (updates)


• Approved corrective actions


• Approved preventive actions


• Approved defect repair


• Validated defect repair


• Deliverables 

The Project Procurement Management processes include the following:

Plan Purchases and Acquisitions - determining what to purchase or acquire and determining when and how.

Plan Contracting - documenting products, services, and results requirements and identifying potential sellers.

Request Seller Responses - obtaining information, quotations, bids, offers, or proposals, as appropriate.

Select Sellers - reviewing offers, choosing among potential sellers, and negotiating a written contract with each seller.

Contract Administration - managing the contract and relationship between the buyer and seller , reviewing and documenting how a seller is performing or has performed to establish required corrective actions and provide a basis for future relationships with the seller, managing contract-related changes and, when appropriate , managing the contractual relationship with the outside  buyer of the project.

Contract Closure - completing and settling each contract, including the resolution of any open items, and closing each contract applicable to the project or a project phase 

• Close Project


• Contract Closure

I. Inputs

• Project management plan


• Contract documentation


• Enterprise environmental factors


• Organizational process assets


• Work performance information


• Deliverables

II. Tools and Techniques

• Project management methodology


• Project management information system


• Expert Judgment

III. Outputs

• Administrative closure procedure


• Contract closure procedure


• Final product, service, or result


• Organisational process assets (updates)

• Develop Project Management Plan


• Scope Planning


• Scope Definition


• Create WBS


• Activity Definition


• Activity Sequencing


• Activity Resource Estimating


• Activity Duration Estimating


• Schedule Development


• Cost Estimating


• Cost Budgeting


• Quality Planning


• Human Resource Planning


• Communications Planning


• Risk Management Planning


• Risk Identification


• Qualitative Risk Analysis


• Quantitative Risk Analysis


• Risk Response Planning


• Plan purchases and Acquisitions


• Plan Contracting

• Direct and Manage Project Execution


• Perform Quality Assurance


• Acquire Project Team


• Develop Project Team


• Information Distribution


• Request Seller Responses


• Select Sellers

Cost Estimating - Developing an approximation of the costs of the resources needed to complete  project activities.

Cost Budgeting - Aggregating the estimated costs of individual activities or work packages to establish a cost baseline

Cost Control - Influencing the factors that create cost variances and controlling changes to the project budget.