Overview
This lecture provides a comprehensive guide to preparing for the PMP 2024 exam, focusing on Agile, Predictive, and Hybrid methodologies, key frameworks like Scrum and Kanban, and crucial exam domains, principles, and processes.
Agile Fundamentals & Scrum
- Understand Agile values: individuals and interactions, working product, customer collaboration, and responding to change.
- Learn Agile principles: customer obsession, embracing change, frequent delivery, motivated teams, and continuous improvement.
- Agile prioritizes value delivery over exhaustive scope completion.
- Scrum is the primary Agile framework: product backlog, sprint planning, sprint backlog, daily scrum, sprint review, and sprint retrospective.
- Key Scrum roles: Product Owner (value maximizer), Scrum Master (Agile coach), Developers (team).
- Backlog refinement ensures stories are “ready” (INVEST: Independent, Negotiable, Valuable, Estimable, Small, Testable).
- Product backlog structures items as Epics > Features > Stories > Tasks.
Predictive Project Management (PMBOK 6 & 7)
- Five process groups: Initiating, Planning, Executing, Monitoring & Controlling, Closing.
- Ten knowledge areas: Integration, Scope, Schedule, Cost, Quality, Resources, Communications, Risk, Procurement, Stakeholder.
- Core documents: project charter, management plans, issue log, work performance reports, and change requests.
- Earned Value Management: SPI, CPI, CV, SV—indices <1 are bad, variances <0 are bad.
- Risk response strategies: negative (Avoid, Transfer, Mitigate, Accept, Escalate), positive (Exploit, Share, Enhance, Accept, Escalate).
PMBOK 7: Principles & Domains
- 12 principles: stewardship, team, stakeholders, value, systems thinking, leadership, tailoring, quality, complexity, risk, adaptability, change.
- 8 domains: Stakeholders, Team, Development Approach/Life Cycle, Planning, Project Work, Delivery, Measurement, Uncertainty.
- Domains focus on critical activity areas, not just processes.
Exam Structure and Focus
- Exam content: 42% People, 50% Process, 8% Business; 50% Agile/Hybrid, 50% Predictive.
- Study key tools: Stakeholder Power/Interest Grid, stakeholder engagement matrix.
- Key frameworks: Scrum (know artifacts & events), Kanban (WIP limits, lead time, cycle time).
- People domain: team building, conflict management (Thomas-Kilmann), servant leadership, emotional intelligence.
- Process domain: methodology tailoring, integration, scope, schedule, budget, quality, procurement, stakeholder management.
- Business domain: compliance, value delivery, organizational change, external business environment.
Key Terms & Definitions
- Agile — An adaptive approach emphasizing flexibility, collaboration, and value delivery.
- Scrum — The most popular Agile framework, structured around sprints and key events.
- Product Owner — Role focused on maximizing value and managing the product backlog.
- Sprint — Time-boxed iteration in Scrum, four weeks or less.
- Backlog Refinement — Ongoing process of preparing backlog items for future sprints.
- Definition of Ready (DoR) — Criteria making a backlog item actionable for a sprint.
- Definition of Done (DoD) — Criteria determining when a product increment is complete.
- Earned Value Management (EVM) — Technique measuring project performance (SPI, CPI, CV, SV).
Action Items / Next Steps
- Read the Agile Practice Guide, Scrum Guide, and PMBOK 6 & 7 principles.
- Download and review the PMP Exam Content Outline PDF.
- Take scenario-based practice exams and focus on time management.
- Study tables and frameworks in the Agile Practice Guide, especially Scrum and Kanban.
- Review 12 PMBOK 7 principles, 8 domains, and understand how they interrelate with process groups.