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CAPM Exam Secrets Study Guide
Initiation Process - Obtain authorization to start a new project or phase on an existing project Planning Process - Establish the scope of the project, refine the objectives and define the course of action required Executing Process - Complete the work defined in the project management plan to satisfy the project specifications Monitoring and Controlling Process - Track, review, and regulate the progress and performance of the project; identify areas which changes to the plan are required Closing Process - Finalize all activities across all Process Groups to formally close the project or phase Integration Management - Identify, define, combine, unify, and coordinate the various processes and project management activities Scope Management - All the work required, and only the work required, to complete the project successfully Time Management - Manage the timely completion of the project Cost Management - Planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget Quality Management - Policies and procedures used to implement the organization's quality management system and it supports continuous process improvement activities Human Resource Management - Organize, manage, and lead the project team; people with assigned roles and responsibilities Communications Management - Timely and appropriate planning, collection, distribution, storage, retrieval, management, control, monitoring, and the ultimate disposition of project information Risk Management - Conducting risk management planning, identification, analysis, response planning, and controlling risk on a project
Procurement Management - Purchase or acquire products, services, or results needed from outside the project team Stakeholder Management - Identify the people, groups, or organizations that could impact or be impacted by the project, analyze stakeholder expectations and their impact on the project, and develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution Develop Project Charter - Expert judgement Facilitation techniques Develop Project Management Plan - Expert judgement Facilitation techniques Direct and Manage Project Work - Expert judgement Project management information system Meetings Monitor and Control Project Work - Expert judgement Analytical techniques Project management information system Meetings Perform Integrated Change Control - Expert judgement Meetings Change control tools Close Project or Phase - Expert judgement Analytical techniques Meetings Plan Scope Management - Expert judgement Meetings Collect Requirements - Interviews Focus groups Facilitated workshops Group creativity techniques Group decision-making techniques Questionnaires and surveys
Three-point estimating Group decision-making techniques Reserve analysis Develop Schedule - Schedule network analysis Critical path method Resource optimization techniques Modeling techniques Leads and lags Schedule compression Scheduling tool Control Schedule - Performance reviews Project management software Resource optimization techniques Modeling techniques Leads and lags Schedule compression Scheduling tool Plan Cost Management - Expert judgement Analytical techniques Meetings Estimate Costs - Expert judgement Analogous estimating Parametric estimating Bottom-up estimating Three-point estimating Reserve analysis Cost of quality Project management software Vendor bid analysis Group decision-making techniques Determine Budget - Cost aggregation Reserve analysis Expert judgement Historical relationships Funding limit reconciliation Control Costs - Earned value management Forecasting
To-complete performance index (TCPI) Performance reviews Project management software Reserve analysis Plan Quality Management - Cost-benefit analysis Cost of quality Seven basic quality tools Benchmarking Design of experiments Statistical sampling Additional quality planning tools Meetings Perform Quality Assurance - Quality management and control tools Quality audits Process analysis Control Quality - Seven basic quality tools Statistical sampling Inspection Approved change requests review Plan Human Resource Management - Organization charts and position descriptions Networking Organizational theory Expert judgement Meetings Acquire Project Team - Pre-assignment Negotiation Acquisition Virtual teams Multi-criteria decision analysis Develop Project Team - Interpersonal skills Training Team-building activities Ground rules Colocation Recognition and rewards Personnel assessment tools
Quantitative risk analysis and modeling techniques Expert judgement Plan Risk Responses - Strategies for negative risks or threats Strategies for positive risks or opportunities Contingent response strategies Expert judgement Control Risks - Risk reassessment Risk audits Variance and trend analysis Technical performance measurement Reserve analysis Meetings Plan Procurement Management - Make-or-buy analysis Expert judgement Market research Meetings Conduct Procurements - Bidder conference Proposal evaluation techniques Independent estimates Expert judgement Advertising Analytical techniques Procurement negotiations Control Procurements - Contract change control system Procurement performance reviews Inspections and audits Performance reporting Payment systems Claims administration Records management system Close Procurements - Procurement audits Procurement negotiations Records management system Identify Stakeholders - Stakeholder analysis Expert judgement
Meetings Plan Stakeholder Management - Expert judgement Meetings Analytical techniques Manage Stakeholder Engagement - Communication methods Interpersonal skills Management Skills Control Stakeholder Engagement - Information management systems Expert judgement Meetings PERT Expected Activity Duration (EAD) - (P+4M+O)/ Standard Deviation (SD) - (P-O)/ Variance of an Activity - ((P-O)/6)^2 or SD^ Range of an Activity Duration - EAD+/-SD Total Float - LS-ES or LF-EF Cost Variance (CV) - CV=EV-AC Schedule Variance (SV) - SV=EV-PV Cost Performance Index (CPI) - CPI=EV/AC Schedule Performance Index (SPI) - SPI=EV/PV Estimate at Completion (EAC) - multiple formulas - EAC=AC+ETC EAC=BAC/CPI EAC=AC+(BAC-EV) EAC=AC+((BAC-EV)/CPI)
Fishbone diagrams or Ishikawa diagrams; problem statement placed at the head of the fishbone is used as a starting point to trace the problem's source back to its actionable root cause Pareto Diagrams - Exist as a special form of vertical bar chart and are used to identify the vital few sources that are responsible for causing most of a problem's effects; organized into categories that measure either frequencies or consequences Histograms - special form of bar chart and are used to describe the central tendency, dispersion, and shape of a statistical distribution Control Charts - Used to determine whether or not a process is stable or has predictable performance; upper and lower control limits-max and min values allowed Colocation - Tight Matrix; placing many or all of the most active project team members in the same physical location to enhance their ability to perform as a team Depreciation Methods - Straight Line Depreciation: property depreciates the same amount every year Accelerated Depreciation: property depreciates more rapidly in initial years; Examples - Double Declining Balance, Sum of the Year's Digits Five Interpersonal Influences - Legitimate Power - being officially empowered to issue orders Reward Power - capable of directly or indirectly dispensing valued organizational rewards such as salary, promotion, bonus, and future work assignments Penalty Power - capable of directly and indirectly dispensing penalties that they wish to avoid Expert Power - possessing special knowledge or expertise Referent Power - personally attracted to the project manager or project Management by Objectives (MBO) - a systems approach for aligning project goals with organizational goals, project goals with the goals of other subunits of the organization, and project goals with individual goals Milestone - A significant point or event in a project, program, or portfolio; duration is always equal to Zero Procurement Audit - To identify successes and failures that warrant recognition in the preparation or administration of other procurement contracts on the project, or on other projects within the performing organization Expected Profit - Sum of (Probability X Profit) (of each alternative) Discount Rate - The interest rate used to calculate present value of expected yearly benefits and costs
Parkinson's Law - Work expands to fill the time available for its completion
