Tuesday, May 31, 2011

PMHUB-G L Johsnon needed only 3 weeks to clear PMP Exam

Great News!
Just received an LL from L Johnson who took only 3 weeks to clear PMP Exam. You too can do this!
Check PMHUB Blog http://pmhub.net/wp weekly for inspiring saga of PMs passing PMP Exam - 

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PMHUB-G L Johnson need less than 1 month to clear PMP Exam

Great News!
Just received an LL from L Johnson who took only 3 weeks to clear PMP Exam. You too can do this!
Check PMHUB Blog http://pmhub.net/wp weekly for inspiring saga of PMs passing PMP Exam - 

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Monday, May 30, 2011

PMHUB-G Latest JIMBOK - do u have one?

Latest JIMBOK - based pn  PMBOK 4 is almost at the end of the thread

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PMHUB-G Another new Certification Lessons Learned

I recently passed my CAPM exam on my first try. It was a long study process which involved several hours of reading a night to fully understand the PM methodologies and processes. At first I was bogged down by the amount of material (Over 12 chapters, 42 processes, 9 Knowledge area, and plenty of ITTOs), but I approached it one day at a time, and nearing the exam it all came together. I would just like to share my method of preparation. 

more here: PMHUB blog http://www.pmhub.net/wp/

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Sunday, May 29, 2011

PMHUB-G Project Management Methodology Study of EBS University, Germany

Dear Sir / Madam,

My name is Prof. Dr. Frederik Ahlemann and I run the Competence Center
for Strategic IT Management at the Institute of Research on
Information Systems (IRIS) of the EBS Business School in Wiesbaden,
Germany. We are currently conducting a study on acceptance and use of
project management methodologies (e.g PRINCE2, CCPM, PMBOK, O2PM, in-
house developed etc.) by individuals involved in projects (e.g.
project managers, project team members etc.). The study is also
supported by the Project Management Institute (PMI) and PMA-India.

In detail, the following questions are addressed:
i) What needs of users are crucial for PM methodology acceptance?
ii) Based on which cognitive considerations do users decide about
using a PM methodology?
iii) Which characteristics of a PM methodology influence this
decision?
iv) How can users be encouraged to use PM methods as intended by the
organization?

The online questionnaire can be accessed by using the following link:

http://ww3.unipark.de/uc/MA_GEYC

This is the first large-scale international quantitative study via
online-survey that addresses this issue. To understand the cultural
differences project managers / staff from many countries are
participating - e.g. U.S.A, India, China, EU-countries, United
Kingdom, and if possible further Asian and African countries.

I was wondering if it would be possible for you to send the survey
link to your members?. This would greatly help us in collecting data
from various nations and will lead to further insightful findings. We
will natuarlly provide you with all raw data collected and the final
results report.

Please let me know if this would be possible and if you have any
questions or require further documents.

Thank you in advance for your time and effort.

_________________________________________________________

Prof. Dr. Frederik Ahlemann, and Kunal Mohan, M.A., MBA
Junior-Professor of Information Systems & Strategic IT Management

EBS Universität für Wirtschaft und Recht i. Gr.

EBS Business School
Institute of Research on Information Systems
Söhnleinstraße 8D
65201 Wiesbaden
GERMANY

Phone +49 611 7102 2110
Fax mobile office +49 180 355 186 5825
kunal.mohan@ebs.edu
www.ebs.edu/iris

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Saturday, May 28, 2011

PMHUB-G Is this a PTA Question?

This is a good thread on how to interprete a question.  Wrong interpretation => wrong answer
The link is:
http://pmhub.net/forums/viewtopic.php?p=31584&sid=7729337b7a82f4556b385750c4105d1c
Question: A fixed-price-plus-incentive-fee (FPI. contract has a target cost of $130,000, a target profit of $15,000, a target price of $145,000, a ceiling price of $160,000, and a share ratio of 80/20. The actual cost of the project was $150,000. How much profit does the seller make? 

1. $10,000 
2. $15,000 
3. $0 
4. $5,000

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Friday, May 27, 2011

PMHUB-G Myth on Contact Hours (hours of courses as pre-req for PMP Exam)

Myth on Contact Hours: Valid Only for courses from PMI REP

Contact hours is in fact valid for life and from any provider (not only from REP)

Details here:
http://www.pmhub.net/pmdigest/component/content/article/1-articles/56-vaility-of-contact-hours

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PMHUB-G New Resources from Andy Crowe's company especially for PMHUB members

Great News for PMHUB members. If you would like to earn PDUs or pass the PMP Exam – please continue reading
VC

Velociteach is an Atlanta based company founded and managed by Andy Crowe, author of "The PMP Exam: How to Pass on Your First Try". We're happy to announce that Velociteach is now a sponsor of PMHUB. Many of you have passed the PMP Exam with the help of this resource, and you've provided great reviews of this book.

(Here is a review of Andy Crowe's book "The PMP Exam: How to Pass on Your First Try" 72% rated this book  very useful/udeful.

http://pmhub.net/forums/viewtopic.php?f=69&t=13973&sid=80b70098c2130dd50ce94538d492ff33

Velociteach is a Global Registered Education Provider with PMI, delivering project management and certification training. Insite e-Learning is a web-based PMP Exam Preparation System that enables you to take on-line classes and study at your own pace. InSite is more than a collection of sample test questions – it's an interactive exam preparation system. By monitoring your progress, it acts as a virtual coach, identifying the areas that may need work.

InSite is also a terrific source for earning PDUs – it's flexible and affordable.

As part of this sponsorship, Velociteach is offering 15% off all Insite e-Learning with this Promo Code: pmhub4insite

To earn PDUs: click this link: https://insite.velociteach.com/best_practices.aspx

If you are a PMP aspirant, click this link: https://insite.velociteach.com/view_all_courses.aspx

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PMHUB-G Week-end reading: PMP Exam grading, the state of PMI and PMP etc etc

Interesting insights on PMP grading, quality of PMI's offerings, math skills of PMP aspirants and certifications
here:
http://forums.pmhub.net/viewtopic.php?f=59&t=12970

PMI revised the PMP/CAPM scoring last Nov 2007!

Postby PMHUBadmin » Thu Jan 17, 2008 11:00 am

PMI has been providing PMP & CAPM exam-writers their % mark on each performance domain (Initiating, Planning, Executing, etc), and exam-writers could apply the proportions and calculate an overall score.

As of 2008 it will just indicate "Proficient, Moderately Proficient, and Below Proficien

Comments:
t". ......

I've heard it said that if one wants to know whether or not to trust somebody with $100, lend them $1 and observe how well they manage it.

Today I received my receipt for $139.00 as payment for my membership dues through 28 Feb 2009.

However, the 8.5" x 11.0" paper sheet with the plastic membership card attached was PRINTED ON THE WRONG SIDE OF THE PAPER.

Therefore, the blank plastic form intended to become my membership card is on the back side of the sheet and is still blank.

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Re: PMHUB-G Atul{ Project PMP completed!

Very sorry - I  missed to post the link:
http://www.pmhub.net/wp/2011/05/atul-pmplessons/

On Fri, May 27, 2011 at 9:09 PM, PMHUB <pmhub@pmhub.net> wrote:
 I would like to share the joy of passing PMP exam today with a big thanks to all for the support extended.Below are the lessons learned -  Schedule : Exactly 3 months Training end date : 27th Feb 2011 Exam Date : 27th May 2011

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PMHUB-G weekend great LL reviews: 94 days left!

weekend great LL  reviews:

You have 4 hours to answer 200 questions. It sounds like easy task to do it – do not underestimate it. It is really not easy to concentrate the whole time. Before my test started, I had 15 minutes for software introduction.  Thanks to knowledge of PM Fastrack I was familiar with this version in a few minutes – so my exam could start.

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PMHUB-G Atul{ Project PMP completed!

 I would like to share the joy of passing PMP exam today with a big thanks to all for the support extended.Below are the lessons learned -  Schedule : Exactly 3 months Training end date : 27th Feb 2011 Exam Date : 27th May 2011

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Thursday, May 26, 2011

PMHUB-G Wisdom from Gandhi himself

 Read the PMBOK- Read 1 more book…I read Rita's which was pretty good but sometopics she really is carried away with her own thought process bitsure if PMP needs that- I would NOT recommend doing all the freebies out there. They are good to revise what you have done but exam questions are totallydifferent- You will NEVER be ready for the exam. Just create your brain dumpand go with it.- Relax and take the exams……stretch, take a break, look outsidethe window, change positions…….control the exams.

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PMHUB-G Lessons from Gwennie's PMP Exam

For me, memorization was only good for the EV formulas. The exam is testing your understanding and knowledge of what to do in specific situations for the various processes. The only way to gain that knowledge is to understand each process in it's entirety: 1)what is the intent of the process 2)what do you need to complete it (inputs) 3)how do you go about doing it (Ts/Ts) and finally 4)what do you get as a result when it is completed (Os).

Full lessons here:

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PMHUB-G Lessons from Abhay PMP Exam

Lesson # 5 - If you do not have experience managing large (PMI has a definition of large) projects (I do not!) you will have a very tough time if you just refer to the PMBOK..you need Rit's book trust me on this..PMBOK is like a summary of Rita's book…you can skim over it or use it for memorization of the ITTO's

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PMHUB-G Near critical path

I have a doubt regarding a question on near critical path. I came across a question regarding the Network diagram below.

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Tuesday, May 24, 2011

PMHUB-G Lessons from Abhay

Lessons 4 I am sure if you plan to use this certification as a way to become a better PM you would want to understand and learn all the PMI material without just cramming it.. Check also Lessons 1, 2 to 3 in here

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PMHUB-G Herr Lehmann answer PMHUB member's question on EVM

This question by ChadAm was answered by Herr Lehmann himself

From Lehmann 75 Sample Questions
You are assigned as the project manager to a project which had a one-time cost variance in the past caused by unexpected rework which has meanwhile been finished. 

You perform Earned Value Analysis and find the following results: 
EV: 250,000; PV: 200,000; AC 275,000

BAC is 500,000.

What is right?

A EAC = 550,000 
B EAC = 525,000 
C EAC = 500,000 
D EAC = 425,000 

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PMHUB-G When to Rebaseline?

When does a plan need to be rebaselined (schedule, cost, etc.)? Is it any time an approved change request makes its way through change control and causes a change to what was planned before? Or is it only when there are significant deviations between the way the project is running and what was planned..? Not sure when you would rebaseline and what its purpose is?

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Monday, May 23, 2011

PMHUB-G Lessons #3 from Abhay's LL

Lesson # 3 – More than one option appears to be right..but trust me, there is only one best answer..in your mental re-construcion of the situation the time-line is super critical, as PM process occur in a particular sequence..you have to understand what phase, timeline the question refers to..this will help you eliminate some obvious options that feel to be the right one..

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PMHUB-G Lessons from Abhay

Lesson #2 –  Most of the questions are situational – they will require you to reconstruct the sitation, analzye the information, look at all the options (Yes – you have to read all options, else you will fail)and then select the best one.

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Saturday, May 21, 2011

PMHUB-G Lesson 1:PM PExam is easy

Lesson #1 –  The PMP is easy!!..trust me it is easy!..the answer is staring right at you..all you need to do is pick it..

Here is the catch -

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Thursday, May 19, 2011

PMHUB-G Great New PMP and CAPM resource from Andy Crowe's company

Great News for PMHUB members. If you would like to earn PDUs or pass the PMP Exam – please continue reading
VC

Velociteach is an Atlanta based company founded and managed by Andy Crowe, author of "The PMP Exam: How to Pass on Your First Try". We're happy to announce that Velociteach is now a sponsor of PMHUB. Many of you have passed the PMP Exam with the help of this resource, and you've provided great reviews of this book.

(Here is a review of Andy Crowe's book "The PMP Exam: How to Pass on Your First Try" 72% rated this book  very useful/udeful.

http://pmhub.net/forums/viewtopic.php?f=69&t=13973&sid=80b70098c2130dd50ce94538d492ff33

Velociteach is a Global Registered Education Provider with PMI, delivering project management and certification training. Insite e-Learning is a web-based PMP Exam Preparation System that enables you to take on-line classes and study at your own pace. InSite is more than a collection of sample test questions – it's an interactive exam preparation system. By monitoring your progress, it acts as a virtual coach, identifying the areas that may need work.

InSite is also a terrific source for earning PDUs – it's flexible and affordable.

As part of this sponsorship, Velociteach is offering 15% off all Insite e-Learning with this Promo Code: pmhub4insite

To earn PDUs: click this link: https://insite.velociteach.com/best_practices.aspx

If you are a PMP aspirant, click this link: https://insite.velociteach.com/view_all_courses.aspx

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Wednesday, May 18, 2011

PMHUB-G quality question for today

http://forums.pmhub.net/viewtopic.php?f=50&t=14545
An Ishikawa diagram helps to:
1. put information in its order of priority
2. explore past outcomes.
3. show team responsibilities.
4. show functional responsibilities.

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RE: PMHUB-G FTY RTY problem - are you up to it?

This is a Six Sigma question where FTY = First Time Yield and RTY = Rolled Throughput Yield 

 

A good explanation of these terms and how to calculate and use them can be found here….. http://www.qualitydigest.com/mar00/html/sixsigma.html

 

BR,
Dr. PDG, Jakarta

http://www.build-project-management-competency.com

 

 

From: pmhub@googlegroups.com [mailto:pmhub@googlegroups.com] On Behalf Of PMHUB
Sent: Wednesday, May 18, 2011 04:29
To: pmhub@yahoogroups.com; PMHUB
Subject: PMHUB-G FTY RTY problem - are you up to it?

 

A project manager needs a certain number of identical valve housings for a power station project. He starts with 100 raw items which are made as metal castings. Out of this batch, 15 are found leaking from micro-porosities in a subsequent pressure test. 6 of these housings can be recovered by a special sealing process for raw castings. 
The 91 housings are then being machined. After this process step 10 machined castings are found leaking. 3 of these items can also be saved using another sealing process for machined castings. 
The remaining 84 housings are getting mounted to the power plant pipework. During a pressure test after this process step it is found that 12 valves are leaking. Out of these a number of 6 valves can be saved by replacing the sealing rings used. 
Finally the project manager has 78 valves which he can use. What is true? 

Options : 
FTY = 0.91, RTY = 0.84 
FTY = 0.65, RTY = 0.78 
FTY = 0.84, RTY = 0.91 
FTY = 0.78, RTY = 0.65 

(source Lehman 75 problems)

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Tuesday, May 17, 2011

PMHUB-G SOX for PM

Section 404 is the most near and dear to project managers.  It concerns the internal and external auditing of a publicly held company's financial statement.  The milestone or fixed date for this is July 15, 2006 as set by the Security and Exchange Commission.  The rules from the SEC are succinctly stated:
http://www.pmhub.net/wp/2005/10/david-kohrell-sox-fundamentals-part-3-what-might-new-pmps-look-to-learn-next/

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PMHUB-G PERT in Time and Cost

The PERT formula is mentioned in the 4th edition PMBOK® as a tool and technique of two processes—Estimate Activity Durations and Estimate Costs. The formula provides a weighted estimate—and the formula doesn't care if the numbers you use represent time or money—so that's why it's in both the PMBOK's Time and Cost knowledge areas.

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PMHUB-G analogous, bottom-up, parametric and three-point – PERT

Schedule (Activity Duration or Activity Resource) and Cost estimating are two lynch pins for business analysis and project management. The most common estimating techniques are: analogous, bottom-up, parametric and three-point – PERT.
http://www.pmhub.net/wp/2011/02/a-simple-matter-of-estimates-analogous-to-pert/

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PMHUB-G secondary - residual risk

Synonymous term or a different term, that's a common question we receive in our course delivery for secondary versus residual risks.  Those two terms sound quite a bit a like.  Are they?

http://www.pmhub.net/wp/2011/02/secondary-versus-residual-risk/

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PMHUB-G Last activity in Project

Discussion in PMHUB Forums:
http://forums.pmhub.net/viewtopic.php?f=50&t=14726

Today from the PMP exam prep class I attended, I learnt that the last activity is Lesson Learned, which is after Resource Release.
The explanation given by the instructor was that of course Lesson Learned is a continuous process throughout the project, and most of it would be completed when the resources were still around. But after releasing the resources, there would still be the final piece of lesson learned that might need to be documented (maybe the release resource activity was not smooth, and there were something worth to be documented as LL). Hence, LL is the last activity.

However, according to Rita, Release Resource is the last activity.

I got very confused now. I checked PMBOK 3rd, it was not mentioned explicitly but just states the output of of last process - Close Project is to update OPA LL, however, it does not mention whether this would still happen after releasing resources.

Could anyone help to clarify on this? Which is the last activity according to PMI best practise? Thanks!!
http://forums.pmhub.net/viewtopic.php?f=50&t=14726

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PMHUB-G Eric Nielsen on Professional Responsibility - Questions & Answers



 PMHUB blog - PM articles
PMHUB PM Digest - your Certification Homepage
PMHUB Facebook:  Twitter: @PMHUB

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PMHUB-G John Reiling on PMP and Life after PMP

  1. John P. Reiling, PMP: What is your Key Success Factor?
  2. John P. Reiling: Is the PMP certification enough?
  3. John P. Reiling: Leverage "Just in time Learning" Concepts for Certification Success
  4. John P. Reiling: Preparing for the PMP or CAPM Exams: PMBOK 3rd or 4th Edition?
  5. John R. Reiling: Microsoft Project Training – Find the Hidden benefits
  6. John Reiling, PMP, SSGB: Are You "Knowledge Seeking" and "Problem Solving" – or Both?
  7. John Reiling, PMP: Are You More of a Project Manager or Business Analyst?
  8. John Reiling, PMP: Systems Thinking in Project Management
  9. John Reiling: Embrace the ITIL Trend – Advance Your Career in IT Project Management
  10. John Reiling: Lead the Charge. Take the Initiative
  11. John Reiling: Now You're a PMP! What Next?

 PMHUB blog - PM articles
PMHUB PM Digest - your Certification Homepage
PMHUB Facebook:  Twitter: @PMHUB

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PMHUB-G Joseph Phillips: 18 PMP topcs for your weekend readings

  1. Joseph Phillips, PMP: Creating the Work Breakdown Structure (WBS)
  2. Joseph Phillips, PMP: Detailing the Project Scope
  3. Joseph Phillips, PMP: Estimating Time and Project Resources
  4. Joseph Phillips, PMP: Planning the Project
  5. Joseph Phillips: Have you earned the Project+?
  6. Joseph Phillips: CAPM? Bueller? Bueller?
  7. Joseph Phillips: Closing a Project Isn't All Fun
  8. Joseph Phillips: Creating the Best Project of Your Life
  9. Joseph Phillips: Defining the Project Life Cycle
  10. Joseph Phillips: How Projects Get Done
  11. Joseph Phillips: Initiating the Project
  12. Joseph Phillips: Pick My Project!
  13. Joseph Phillips: Project Management and the Big Picture
  14. Joseph Phillips: Project+ Certification Details
  15. Joseph Phillips: Projects and the Organizational Structures
  16. Joseph Phillips: The Technical Side of Project Management
  17. Joseph Phillips: To Certify or Not To Certify?
  18. Joseph Phillips: Writing the Project Charter

 PMHUB blog - PM articles
PMHUB PM Digest - your Certification Homepage
PMHUB Facebook:  Twitter: @PMHUB

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PMHUB-G Jim Owens series of 37 articles on PMP and PM topics

  1. Jim Owens PMP: Business Continuity Management
  2. Jim Owens PMP: JIMBOK 4th ed – Communications Management
  3. Jim Owens PMP: JIMBOK 4th ed – Scope Management
  4. Jim Owens PMP: JIMBOK 4th ed Time Management
  5. Jim Owens PMP: JIMBOK 4th ed-Human Resources Management
  6. Jim Owens PMP: PMBOK still two-phased. Another trap for the unwary
  7. Jim Owens PMP: PMP Exam Tips on Ethics and Professional Responsibility, 4th Edition
  8. Jim Owens PMP: Should We Manage and Control Projects?
  9. Jim Owens PMP: Stakeholder Perceptions
  10. Jim Owens PMP: Who Writes the Project Charter?
  11. Jim Owens, PMP: JIMBOK 4th ed – Integration Management
  12. Jim Owens, PMP: JIMBOK 4th ed – Risk Management
  13. Jim Owens, PMP: JIMBOK 4th ed, Cost Management
  14. Jim Owens, PMP: JIMBOK 4th ed. Procurement Management
  15. Jim Owens, PMP: JIMBOK 4th ed: Quality Management
  16. Jim Owens, PMP: The PMO, Projects, Programs and portfolios
  17. Jim Owens: PRINCE2(TM) History and Overview
  18. Jim Owens: Certification World Rankings and the Glass Ceiling
  19. Jim Owens: Emotional Intelligence – an introduction
  20. Jim Owens: Expectancy Theory
  21. Jim Owens: How Much Have You Earned This Week?
  22. Jim Owens: ISO 9000 Quality Management Systems
  23. Jim Owens: Leadership, a few thoughts
  24. Jim Owens: Life After PMP
  25. Jim Owens: Matrix Organization
  26. Jim Owens: May the Fourth be with you! PMBOK 4 changes Part 1/2
  27. Jim Owens: May the Fourth be with you! PMBOK Fourth changes Part 2/2
  28. Jim Owens: Motivation 1/1
  29. Jim Owens: Motivation 2/2
  30. Jim Owens: On Motivation
  31. Jim Owens: Power in Project
  32. Jim Owens: The Hawthorne Effect
  33. Jim Owens: The power point to Power Point
  34. Jim Owens: Tips on PMP Exam
  35. Jim Owens: Training Your Memory 1/3
  36. Jim Owens: Training Your Memory 2/3
  37. Jim Owens: What is Business Process Reengineering?

 PMHUB blog - PM articles
PMHUB PM Digest - your Certification Homepage
PMHUB Facebook:  Twitter: @PMHUB

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PMHUB-G D Kohrell's 10 articles: PMP and Sox


 PMHUB blog - PM articles
PMHUB PM Digest - your Certification Homepage
PMHUB Facebook:  Twitter: @PMHUB

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PMHUB-G FTY RTY problem - are you up to it?

A project manager needs a certain number of identical valve housings for a power station project. He starts with 100 raw items which are made as metal castings. Out of this batch, 15 are found leaking from micro-porosities in a subsequent pressure test. 6 of these housings can be recovered by a special sealing process for raw castings. 
The 91 housings are then being machined. After this process step 10 machined castings are found leaking. 3 of these items can also be saved using another sealing process for machined castings. 
The remaining 84 housings are getting mounted to the power plant pipework. During a pressure test after this process step it is found that 12 valves are leaking. Out of these a number of 6 valves can be saved by replacing the sealing rings used. 
Finally the project manager has 78 valves which he can use. What is true? 

Options : 
FTY = 0.91, RTY = 0.84 
FTY = 0.65, RTY = 0.78 
FTY = 0.84, RTY = 0.91 
FTY = 0.78, RTY = 0.65 
(source Lehman 75 problems)

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PMHUB-G Lessons from Abhay's PMP exp

Lesson #1 –  The PMP is easy!!..trust me it is easy!..the answer is staring right at you..all you need to do is pick it..

Here is the catch -

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PMHUB-G 18 articles of CF

18 articles by Cornelius Ficthner on life after PMP and also for PMP aspirants

  • Cornelius Fichtner, PMP: 10 Easy Ways to Earn PDUs
  • Cornelius Fichtner, PMP: 5 Reasons NOT to Take a PMP Exam Boot Camp
  • Cornelius Fichtner, PMP: 7 Steps to Selecting your Online PMP Exam Preparation Course
  • Cornelius Fichtner, PMP: Can I take the PMP® Exam even if my title is not "Project Manager"?
  • Cornelius Fichtner, PMP: Don't use too many PMP Exam Prep Books
  • Cornelius Fichtner, PMP: PMI's PDU Secrets
  • Cornelius Fichtner, PMP: Top 10 Features of a Great PMP Exam Simulator
  • Cornelius Fichtner, PMP: What if you get audited on your PMP Exam Application?
  • Cornelius Fichtner, PMP: What is a PMP Exam Simulator?
  • Cornelius Fichtner, PMP: Which PMI Credential is Right for me?
  • Cornelius Fichtner: 10 Steps to Becoming a PMP
  • Cornelius Fichtner: How should you spend your first 20 minutes into PMP?
  • Cornelius Fichtner: How To Upgrade yourself to the new PMBOK® Guide 4th edition
  • Cornelius Fichtner: PMI Code of Ethics and Professional Conduct
  • Cornelius Fichtner: PMP® Questions and Answers
  • Cornelius Fichtner: The Work Package explained
  • Cornelius Ficthner: Break Your PMP Studies Into Small Pieces
  • Cornelius Fitchner: Contingency Plan vs Workaround
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    PMHUB-G Fee and Profit calculation in CPIF contract

    Interesting discussion on the subject 

    The buyer has negotiated CPIF contract with the seller. The contract has a target cost of $300,000 , a target fee of $40,000 , a share ratio of 80/20, a maximum fee of $60,000 and min fee of $10,000. If the seller has actual costs of $380,000, how much fee will he pay?

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    PMHUB-G Stakeholder Mgmt Strategy

    This document is created through the Identify Stakeholders process, which is one of the 42 project management processes described in the fourth edition PMBOK®.
    http://www.pmhub.net/wp/2011/02/david-kohrell-stakeholder-management-strategy/

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    PMHUB-G Brainstorming & PMBOK

    The PMBOK references brainstorming as the tool and technique, Facilitated Workshops, for Collect Requirements (5.1) and Define Scope (5.2). It also is a tool for project selection.
    http://www.pmhub.net/wp/2011/03/david-kohrell-brainstorming-facilitated-workshops-for-project-selection-and-scope/

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    PMHUB-G Just In Time concepts and certification

    Just in time learning" concepts can allow us to learn faster and understand better.  The basic concept is that we learn "just in time" for us to use the knowledge.  That way, we can apply it right away, and in doing so, we firm up our knowledge.  The idea is that if we do not apply what we learn right away, that knowledge withers away and disappears.
    http://www.pmhub.net/wp/2009/11/john-p-reiling-leverage-just-in-time-learning%E2%80%9D-concepts-for-certification-success/

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    Monday, May 16, 2011

    PMHUB-G CAPM Exam LL hot off the press

    This is hot off the press. Documented at the same day after the Exam!
    Sat May 14, 2011 7:14 am  I guess it is about time I put in my 2 cents of CAPM wisdom. When I went through a post on "Lessons Learned" last month on PMHub.net, at that time somewhere deep down, I will post my experience soon. Today, I cleared CAPM and I'm sharing my strategy and "Lessons Learned" in this post in the hope of helping CAPM/PMP aspirants out there.

    http://www.pmhub.net/wp/2011/05/sunish-chabba-capm-exam-lessons-learned/

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    PMHUB-G Abhay: Passed PMP May 14 - PMP Exam is easy - here is the catch

    Lesson #1 –  The PMP is easy!!..trust me it is easy!..the answer is staring right at you..all you need to do is pick it..

    Here is the catch -

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    Sunday, May 15, 2011

    PMHUB-G Project Exclusions, assumptions etc

    Project exclusions, assumptions, and constraints (among other information) are included in a Project Scope Statement.  They're also referenced in the Project Charter and Project Plan.
    http://www.pmhub.net/wp/2011/03/1996/

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    PMHUB-G Stakeholders Mgmt Strategy

    A Stakeholder Management Strategy is a document used by PMs to outline a plan to increase support and minimize obstruction from the project stakeholders. This document is created through the Identify Stakeholders process, which is one of the 42 project management processes described in the fourth edition PMBOK®.

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    PMHUB-G Why follow the processes?

    Spending some time on preparing and following the Project Management Plan is considered more of a burden than viewing it as an effective tool to complete a project successfully on time. The common methodology is to get down and start work right from the word "go". The irony is that this is a common attitude across the globe. Yes there are certain exceptions…But the general feeling among PMs is that it is choosing between having your job and following the process.

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    PMHUB-G Got PMP the 2nd time around

    This is an inspiring LL from Radha, getting her PMP the second time around

    I achieved my PMP cert in my second attempt on 7/4/2007. My first attempt was on Jan, which was fast tracking attempt and was failure, but score came close to passing score. I was bit disappointed and realised need to have more commitment in preparation.

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    PMHUB-G Prasanna PMP Way

    I also joined PMHUB Forums, the discussions there were pretty useful. From there i came to know about JIMBOK. Its a great set of articles by Jim Owens and its an excellent material for final day review. On the day prior to the exam, I went through all the ITTOs, Formulas, Theories and JIMBOK. It took the whole day. Actually i bough Flashcards for final review, but never find the time to use it. To be more precise i have forgotten that i had purchased flashcards

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    Thursday, May 12, 2011

    PMHUB-G Re: PTA question

    Target Price = Target Cost + Target Fee

    PTA = [(ceiling price - target price)/buyer's share] + target cost
    = [($1.2m - $1.1m)/0.8] + $1m
    = $1,125.000

    On May 12, 10:18 pm, M L <elc...@gmail.com> wrote:
    > 46. In a project, a Cost incentive contract has been awarded to a
    > contractor with the following parameters:
    >
    > Target cost: $1,000,000
    > Target contractor fee: $100,000
    > Cost benefit sharing ratio: 80%/20%
    > Price ceiling: $1,200,000
    >
    > What is the Point of total assumption (PTA, Breakpoint) of the project?46
    > o $1,000,000http://forums.pmhub.net/viewtopic.php?f=50&t=13730&p=33770&hilit=brea...

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    PMHUB-G Are You More of a Project Manager or Business Analyst?

    As a Business Analyst, you bridge the technical or business communication gap between the software development or project implementation teams and the management, executive or business teams.

    This distinction means that you have to be wired a certain way for either role.

    As a Project Manager, you need to be wired to take responsibility…and take control of the outcome…meaning taking control of resources, schedule, and outcomes.

    http://www.pmhub.net/wp/2011/05/john-reiling-pmp-are-you-more-of-a-project-manager-or-business-analyst/

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    PMHUB-G PTA question

    46. In a project, a Cost incentive contract has been awarded to a
    contractor with the following parameters:

    Target cost: $1,000,000
    Target contractor fee: $100,000
    Cost benefit sharing ratio: 80%/20%
    Price ceiling: $1,200,000

    What is the Point of total assumption (PTA, Breakpoint) of the project?46
    o $1,000,000
    http://forums.pmhub.net/viewtopic.php?f=50&t=13730&p=33770&hilit=breakpoint

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    Wednesday, May 11, 2011

    PMHUB-G Delayed writing the exam due to earthquake

    I scheduled to give the exam on 24th March.
    But as I am based in Tokyo, and there was the earthquake incident, I rescheduled it for yesterday 9th May.
    After the earthquake and incidents that followed, the PMP study stuff was kind of completely washed off.
    I was feeling as if I dont remember anything. :-(
    http://www.pmhub.net/wp/2011/05/rashmi-9th-may/

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    Re: PMHUB-G Looking for a timesheet tracking and project management tool


    openproject.


    On Tue, May 10, 2011 at 4:48 AM, Vivek Goel <vivekxgoel@gmail.com> wrote:
    Hi,

    I'm looking for an open source:

    project management tool
    timesheet tracking tool

    Any suggestions??

    Vivek

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    PMHUB-G IRR or NPV

    In prioritizing project which one to choose?
    http://forums.pmhub.net/viewtopic.php?f=50&t=13519

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    Tuesday, May 3, 2011

    PMHUB-G How to get PDU from KSA?

    im living in Riyadh-KSA. could any one please advice how to get PDUs there??

    Short answer:
    By using Web-based PDU resources, not only it is much more cost effective, you can access this courses from any place in the world and you are sure that they meet the standard of PMI


    Velociteach - a PMI REP founded by Andy Crowe is offering 15% off for all PMHUB members by using this Promo code: PMHUB4Insite
    https://insite.velociteach.com/view_all_courses.aspx

    Another resource is from Cornelius Fitchner PMP Prepcast: another PMI REP:
     http://www.premiumcast.com/vp/69153/13484/10345/

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    PMHUB-G Life Cycle risk question

    During the project life cycle, in which part of the life cycle will risk be the lowest?
    a. Initiation
    b. Planning
    c. Execution
    d. Closeout

    http://forums.pmhub.net/viewtopic.php?f=50&t=15341

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    PMHUB-G Project Initiation Meeting

    In which process group, project is initiated. Rita in her book mention it is in planning process [/size]group, while as I understand it is supposed to Initiaion process group.
    http://forums.pmhub.net/viewtopic.php?f=50&t=15270

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    PMHUB-G exchange of gifts - question

    You are managing a project in a foreign country. In this country there is a normal practice for business people to exchange gifts when very large contracts, such as the one you are working on, are signed. The gift is of a greater value than your company's policy for gift exchange will allow. You have given a gift of similar value to the customer's representative already. What should you do?

    http://forums.pmhub.net/viewtopic.php?f=50&t=15323#p38740

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    PMHUB-G Passed PMP 5/1/11

    I decided to make a short pause after 50, 100 and 150th question.  When I got 50 questions answered I postponed the first break so my first pause was when I had 70 questions completed. During exam I drank coke, I did several breathing exercises and I could continue with exam. I really cannot imagine doing the whole test without these pauses (another applicant near me went through the whole test without break). Another breaks I had after 120th and 175th question. So after 3 short breaks I needed to finish last 25 questions and some marked revisions. Finally I answered the last, 200th question. I had 9 questions marked for later revision. After short check I changed the answer to one question and after 3 hours and 15 minutes from start I finished the test.

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