PMP Question Practice Lecture Notes

Overview

• Purpose: Prepare for the PMP exam by practicing 5 questions daily
• Approach: Solve questions together for a hands-on learning experience

Question 1: Outsourcing a Product Component

• Scenario: Part of a project cannot be completed internally, decision to outsource with a bonus for completion in 2 months.
• Contract Types Discussed:
  • Cost plus fixed fee
  • Fixed price with economic adjustments
  • Time and materials
  • Fixed price with incentive
• Answer: Fixed price with incentive fee
  • Allows buyer to allocate incentive based on schedule, cost, or quality metrics.

Question 2: Scheduling Network Diagram

• Scenario: Created a schedule network diagram with durations, early start, and finish dates.
• Next Step: Perform a backward pass noting late start and finish dates.
• Answers Discussed:
  • Performing a forward pass
  • Performing a backward pass
  • Breaking down scope into smaller work packages
  • Noting float and positions of each activity
• Answer: Perform a backward pass
  • Calculates late start and finish, helps determine project schedule float.

Question 3: Outsourcing with Low Risk

• Scenario: Project sponsor wants to minimize organizational risk in outsourcing development.
• Contract Types Discussed:
  • Cost plus fixed fee
  • Time and materials
  • Firm fixed price
  • Cost plus incentive fee
• Answer: Firm fixed price
  • Least risky for buyer, total costs are predetermined and scope clearly defined.

Question 4: Work Authorization System

• Scenario: Distributing work to team using the work authorization system.
• System Functions:
  • Manages timing and sequence of activities
  • Authorizes activities
• Answers Discussed:
  • Tracking and managing defects
  • Identifying resources needed
  • Comparing actual work against baselines
• Answer: Defines how work will be authorized and done in the correct sequence.

Question 5: Change in Project Requirements

• Scenario: Stakeholder requests stage enlargement in a project, not originally planned.
• Process Steps:
  • Do not start work immediately
  • Do not update baselines without approval
  • Analyze impact on cost, schedule, and scope
  • Submit change request to change control board
• Answer: Analyze impact and submit change request
  • Assess impact before raising a change request; update baselines post-approval.

Conclusion

• Encouragement to continue practicing and studying daily for the PMP exam.
• Positive reinforcement and belief in the ability to pass the exam.