Do you know that passing PMP exam does not mean to solve thousands of PMP exam questions?
That is right, You heard it right. Before I start explaining these questions to you,
I want to tell you a story. I think one or two years back, a student reached out to me
and asked me, Varun, I heard that there is some website ABCXYZ.com, I do not remember
the name. They are giving a dump of some thousand PMP exam questions and they are saying that
if you study these dump, then you will definitely pass. His colleague actually reached out to
him and he was practicing through that channel. So guess what happened to that Mr. Colleague?
Of course, he failed the exam. There is no such story that these exam questions would
come from X source or Y source or Z source, I am telling you right away. So if your expectation
is that from this video the PMP exam questions will come then you can close this video right
away. However if you want to understand that how I am dealing with questions, how I'm using
elimination technique to come up with the PMP exam questions, how I am approaching to
the questions, then this video is right for you. Okay before we move into the next stage
Who am I? My name is Varun Anand and I am the founder
of Eduhubspot training company, which deals with PMP and CAPM certification exam. Before
I start explaining this question to you, I have one request to you and it is that I want
to make sure that whenever I read a question to you, please pause the video after I read
the question and in the comments section of YouTube, please write the question number
and the answer what you are looking into it. What do I mean by that? Let us say this is
question one, whenever I read this question to you, just pause that video right away and
write. Question One answer is let's say C, I have not read the question yet. Let's say
you set answer to C. Now don't just say answer A B C D. I really don't care about it, what
I care about is giving me the reasoning that why you think C is correct or why you think
B is correct. In this way I want this video to be as much interactive as possible. When
you give me the reasoning that for question one C is correct and this is my reasoning
for it. Then I would be able to reply to that comment and say that OK yes Mr. or Miss, this
looks good and your reasoning is correct. We do not want to come to correct answer,
we want to see an approach that why you are selecting a particular answer. This video
is all about concept. Ok so let us go right into this question.
You are a project manager and you have received a meeting invite from your senior manager.
The title of the meeting is Kill point meeting. What is the purpose of this meeting?
OK Kill point meeting, there are a couple of names for Kill point. It is also name as
phase entrance, and then there is phase exit, I think that is another name like stage gate,
and there are a couple of more, You can actually refer to PMBOK for that. Let's see what is
the purpose of Kill point meeting. In this meeting. A) The project manager and senior
manager will kill the project. Yes, you can actually kill the project in a kill point
meeting but is this really the only purpose of Kill point meeting. I don't think so. So
A is out. See, how I'm approaching to a question, I really want you to make sure that when you're
practicing questions, you are attempting to the question in a similar manner. This is
known as elimination technique, so whenever you practice, write down these answer option
for each question like Question 1. A B C D, then see Okay what I think that A is not correct.
So eliminate that. B, I think maybe is correct ,C is definitely not correct so C is out.
So the B and D. I think B is the better option. This is how you have to approach to a question.
This PMP question video is all about approaching a question. Okay let us go to Option B, In
this meeting all the team members would sit in one room, kill the project. Okay first
in kill point meeting It's not necessarily that all the team members would be there,
definitely they would be someone from senior management and of course project manager would
be there, but it's not necessary that all the team members. So this statement that it
says all the team members, this means that is not a correct statement, so B is out as
well. C; This meeting will discuss the transition from one phase to another within a project
life-cycle. OK, that is the correct definition of Kill point meeting and I will come to that,
but let me read option D for you. D; in this meeting the project manager will be officially
assigned to lead the effort. That is not at all correct. This is something, which happens
in the project charter. So project charter is the official document which will state
that Mr. A or Miss B is the project manager to this project. So that is not the purpose
of Kill point. Now, what happens in Kill point meeting is, let us think from this perspective,
let's say Phase 1 of my project is to make a website. Phase 2 of my project is let's
say to make an Android app. Now after Phase 1, we will have this Kill point meeting. And
in this Kill point meeting that would be senior management whom I would have to give a reasoning
that why I think that Android app is or an Apple App is a necessity. The senior management
will give me reasoning, will give me counter reasoning and ask what do you really think
so this makes sense or not. And based upon this negotiation, if everything
goes good then we will move from one phase to another phase. If it is not good then we
will kill the project right there. So out of all the four options, option C looks like
the best. So I hope you guys also selected option C, but please don't forget in the YouTube
comments give me the reasoning if you selected C, Why do you think C is correct. If you selected
A B D , then also I really wanted to make sure that you write in the YouTube comments
that why you think A B or D is correct. Trust me I will reply to each comment and I do that,
you can see that in the comments below but I really do that. So, again we want this video
to be as much interactive as possible. Let's move to next question. You have been
asked to create User Manuals for a call center day-to-day task. OK. What does day-to-day
tasks means. The keyword is operation. What is the correct term for this scenario. OK
so you have been tasked to create to create User Manuals. So it looks like that when you're
creating a user manual, it is definitely not an ever ending thing. You will create user
manual and it will end. So this means this particular whatever it is, it has a definite
end date. So, if it has a definite end date, it looks like it is a project. OK keep another
thing in mind that what are the keywords for a project. First keyword is that it should
definitely have an end date, which in this case it is. Second, the product should be
unique; when you are creating the user manuals, the user manual in itself is unique. No doubt
they have given the keyword that it's for call center's day to day task which is an
operation but that is the functioning of call center which is an operation, not the task
or project which you are doing right now. So out of all four, A looks like the best.
It's definitely not program, because program is all about a set of similar projects and
over here we just talked about one project and I am not talking about multiple projects.
So program is definitely out. Similarly portfolio, portfolio is actually a combination of project,
program, operations. It is like a mixture of all and everything together. But, in this
question we asked only one statement, which was to create user manuals for call centers
day-to-day operations. I did not talk about any big thing or any multiple things. So definitely,
portfolio is out as well. OK. So the correct answer for this question is A, refer to PMBOK
sixth edition page 6. I hope you guys are writing down the answer option. Again, make
sure and keep in mind that you are writing the reasoning why you think A is correct or
B is correct in the comments below. Let us go to the question number 3; you are a project
coordinator who is trying to secure developers for a project. Your title allows the allocation
of some resources. So you have little power, I would say. That is one of the keyword that
you have little power. But you are usually denied the resources. Okay, that is another
key word, that you have little power, however, you are denied resources because they are
busy on other projects. What type of organization are you working at?
OK now please pause the video right away. What do you think the correct answer is? Write
in the comments below that I think A is correct or B is correct or whatever. Please just do
not write that A B C or D is correct. Give me the reasoning. Trust me, I will reply to
your comment but I want to know how your concept is there, and are you doing it right or not.
This PMP exam question is all about learning. So there a couple of keywords, first keyword
is that your title is project coordinator, that is an important keyword. Second keyword
is that you have little power but you are often denied resources. So honestly, it is
not organic or simple. Organic or simple is a very small organization where everyone reports
to the owner of the company. Nobody in the question would talked about this kind of scenario,
So D is out. Composite organization is more like a project-oriented organization where
you are following the certain pattern and based upon that pattern you got a special
project. Now this is a new project, it is a very big project for you, and you want to
change the way you handle the projects. When you move from one stage to another phase.
That is known as composite, that you make some kind of special arrangement for the special
project. That is not what we're talking about here.
Now out of A and B, in functional and weak metrics first of all I'll give you a key word
and keep that in mind that's an important keyword, that whenever you see the words project
coordinator or project expediter, you straight away should go for weak metrics. That is the
correct answer. In this question, the second key word was that you have some power in functional
organization PC or PE or PM, they don't have any power at all. The real power is actually
in the hand of functional manager. But in this question it says, you have some power
but often you are denied resources. This means the correct answer is B. So this organization
type is very important from your PMP Exam perspective. You will get lots of questions
on these and they are not just Four, Four options which you see, there are many other
different types of organization structure like strong matrix, balance matrix and PMO
is also another type. So make sure you once we are done with this video, I'll give you
a link to my course videos, You can actually go to my website also, which is EduHubSpot.com,
there you can practice some other questions, practice simulators and you can watch of course,
new videos. So in this question the correct answer is B, refer to PMBOK sixth edition
page 47. For every question I'm giving reference to PMBOK edition and page number. Why? Because
I wanted to make sure you go to the PMBOK, because everything should be related to PMBOK,
if they're just not in PMBOK, This means it's not important from an exam perspective. Let's
move to the next question which is Q No.4; You're a project manager working for a very
small organization, where everyone shared multiple roles and responsibilities. Everyone
reports to the owner of the company, what type of organization are you working at? So
I just gave you the answer to the previous question and I think you know the answer to
this question also. Again, please pause this video right now and in the comments section
write it down what do you think is the correct answer. Again, Please just don't give me that
that A is correct or C is correct. Give me a reasoning why you think so, Whatever it
might be, give me the reasoning. I want you to build your concepts here. OK so everyone
it's a very small organization first of all, let's eliminate a couple of them. Multi
divisional is not a small organization, Multi divisional or something you are located in
in different countries and every country has their own office there maintaining and doing
things. So D is out over there. Now we didn't talk about functional manager, we didn't talk
about Project Manager We didn't talk about Project Coordinator, expediter, all those
things are missing. Instead what we talked about was that there is an owner of the company.
If there is an owner of the company and everyone reports to the owner and everyone wears multiple
hats. This means we are talking about organic or simple.
It's not the metrics organization. It is not functional. However, it is actually the organic
or simple organization. So in this case the correct answer is C, refer to PMBOK sixth
edition, Page 47. I hope you have got the answer right. Okay so I hope you have the
momentum. Let's move to the next question. So you are a newly assigned project manager
and you are working on a new implementation project. So first keyword is that you are
a newly member. In order to understand the scope of the project, you meet with the associates
who have worked on similar projects in the past. As a new project manager, you should
do that. You analyze that feedback and identify the risk they have missed, but you have no
experience in handling that type of risk. What should you do in such a scenario? Okay
so what does it look like? It looks like you are a new project manager, you worked with
the team members, your other colleagues and they were telling you about their experience,
because of that you came up with some kind of risk and now you are not sure how to handle
that kind of risk. You might be like, you do not have any experience and since you are
new to the organization you don't know how things actually work in the organization.
Now again please pause the video. What do you think is the correct answer and give me
a reasoning for that. Let me read that out for you. A; do nothing as this case related
to past projects. OK so as a project manager, running away from
your responsibilities, like doing nothing is similar to running away from your responsibility
and is not a good thing to do. So wherever it says do nothing when you have actually
identified a risk, which might cause a big problem to your project. You should not ignore,
So A is out. B; document it, but since it's based on past Project make it low level. OK.
What do you mean by low level. What am I talking about? Of course you should document that,
I'm not denying that fact. But how can you come to the conclusion that it is low level.
Since you do not have any experience, you should actually talk to some expert. You should
try to analyze the impact of it and based upon that you should conclude that it is low,
medium, high, whatever it is. Therefore, B is out as well. C, document it and try to
analyze. Of course, you should document it and take help from PMO department take help
an expert or take help even from your colleagues that what is the impact of that risk and based
upon the impact of the risk you should give a reasoning like you should document it. So
C looks like a good option till now. D; do nothing as nobody knows about it. As I told
you before, as per PMI code of ethics and professional responsibility doing nothing
is not a good option at all. You should always do something.
And of course in this type of scenario where you have actually found out what the risk
is. You cannot just simply ignore it. OK. So in this case the correct answer is C refer
to PMBOK sixth editio, Page 3. On PMI code of ethics and professional conduct. Now PMI
code of ethics and professional conduct there is a PDF document on the on the PMI.org website,
if you do not get that, if you are not able to find that out. Just send an email to my
support team or give us a call and we can share that PDF document with you. It is not
necessary honestly to read that PDF. If you want to understand like in a way, I'm explaining
it to you in a video then go back to my website of just www.eduhubspot.com and in the introduction
section videos there are video on PMI code of ethics and professional conduct. You can
watch this I think it is just 10 15-minute video and you will of course learn a lot.
Let us move to the next question. You are a project manager in your organization, your
team members report to you and you handle their yearly performance review. You are also
responsible for resolving issues in case there are any. It is your responsibility to release
the resources when the project is completed so that they can start the new project. What
kind of organization do you look at? OK another good question I would say.
So again, whatever you think is the correct option. Write down the question number with
the answer and give me an explanation that out of all the keywords, of course I would
say those keywords to you. Why do you think A is correct or B is correct or C is correct.
Give me those keywords in the question. That's how we want to deal with it. OK. So good.
. Go ahead pause it and write the correct answer. Let me do it for you as well. First
of all the key word is that the team members report to you and you are a project manager.
So that's an important keyword. You do their yearly performance review. You are also responsible
for resolving issues, so this means you have a lot of power. And the last and final thing
is it is your responsibility to release the resources. This means
these resources do not have home. So that's another keyword aspect. Let's see what's the
correct answer. A We have balanced matrix. OK. In balance matrix we have both project
manager as well as functional manager and both of them has 50-50 percent power. In this
question it looks like the PM has most power and we're actually not talking about functional
management at all. We didn't use the word functional manager. So A is definitely out.
PMO is good. But it again depends upon what type of PMO it is. Is it supportive, is it
controlling, is it directive. There are different types of PMO department. We know it and we
talked about it, right. So B is out as well. Now in strong matrix. We have both project
manager and functional manager and PM has more power. But did we really talk about functional
manager in this question. I don't think so, we only talked about the project manager so
that is out as well. Finally and the remaining one is left is project oriented, so project
oriented trust me PM is God. All the powers, all the decisions are something, which is
taken by the Project Manager, which is similar to in this question where if you see, the
project manager is releasing the resources, the project manager resolving the issues and
everything is actually done by the P.M. So in this case the correct answer is D, refer
to PMBOK sixth edition, Page 47. I repeat these organizations, different types of organization
is very very important from the exam perspective. So make sure you're watching the role, organization
type video on my website to make sure your concepts are strong. OK let's see next question.
So the next question is: you are using three point estimation technique to develop the
total budget for the project. OK so three point estimation technique we're using. OK.
That doesn't make any difference but it is okay. A more experienced colleague suggests
that you increase each estimate by 10 percent to account for any unknown risk. What should
you do? Okay. So first of all again pause the video, give me the answer. What do you
think? Should we increase the estimate or should we not increase the estimate and whatever
it isgive me the reasoning for it. Okay. So please go ahead and pause the video now.Now
in this case, the couple of key words are. First it says increase each estimate by 10
percent. Are you allowed to increase their estimate by 10 percent on your own but over
here it says, to account for unknown risks. What is unknown risk? unknown risk we actually
use contingency reserve and there is another term which is also known as management reserve.
So the contingency reserve is used for known unknowns which is that risk which are known
and those risks happens and management reserve is known as unknown unknowns which is the
risk which I don't know at all and that happens on the project. So all these things are actually
they are actually calculated, first of all it depends upon what organization type you
are and it into some percentage, like it would be 5 percent or 10 percent of cost base line
and things like that. So that's how you calculate the contingency reserve and management reserve
. But in this question your colleague has just referred to you and said that you know
what, increase it by 10 percent to be on the safer side. You cannot just simply go ahead
and increase it. So first of all that is the wrong thing to do. Let's see, A, do not increase
the estimate. Yes, as I told you before, you should not increase the estimate. B, you need
to inform the customer before increasing it. Okay, as I told you that you should not increase
the estimate. So why would you just inform the customer of something wrong. Like if you
want to do something wrong I'll go to my customer and say, can I increase the estimate, that's
what it is. So that's not what we are doing here. So, B is out. C- increase the estimate
first and then tell the customer the actual reason behind it. Okay first I'm saying that
you should not increase it, but over here it is saying it should increase and I should
tell the customer also. Again, that is not the correct reasoning. D- Because you are
PM, there is no need to inform the customer, just go ahead and increase. Okay, keep one
thing in mind. PM does not means that you have the license to do wrong things on the
project . So D is out as well. So out of all the four option A- looks like the best option
which is the correct one, refer to PMBOK Page 3 which is on professional responsibility,
the PMI code of ethics and professional responsibility. Again, in the description of this video there
are a couple of links on my videos on practice question so make sure you can go there and
practice those questions but before you click on that, I want to make sure that you complete
this exercise with me. It's not a long video but you will learn a lot. Okay next one, Todd
is a new project manager in your company. okay, welcome Todd. Your company has a culture
that a new PM is helped by senior members of the team. You have been assigned as the
PM buddy. It is more like an organizational term whenever a new project manager comes
in, you tell him or her to mirror some senior or experienced project manager, so that he
or she can learn from it. The new PM asks you whose responsibility is to determine the
priorities between projects in a company. What should be your answer to him. OK so the
question clearly says, it's a very simple question. Okay before I give you the reasoning
and before I start going and do the justification, I want you to pause the video right away,
give me the correct answer and give me the correct reasoning for that in the YouTube
description below. So please don't be lazy. Go ahead and do that. Okay let's see. First
of all there are a couple of keywords, the main statement of this question is that the
new PM asks you, whose responsibility is to determine the priorities between project Let's
see, Is it the project managers job to determine the priorities between projects. So for example
if there are 10 projects in a company ABC..D whatever. let's say there are four products
to be on a shorter scale, you have two project managers and these four products will be assigned
between these two project managers, who will tell these two project managers that A is
higher priority , B is higher priority, C is higher priority or D is higher priority.
Someone would tell, right. It is definitely not. It is upto the discretion of project
managers to decide whether my project is more important or your project is more important
right. So it is definitely not PM's job. Project management team, this is something which is
assigned after a project is started and they cannot decide the priority, it's like even
project management team is even lower than project manager. So I'm saying someone higher
up in the organization should take that decision. C- project management office, this is a very
good option I would say, first of all different types of PMO . And in one of the PMO, the
project managers are actually assigned and they also determine the properties between
different projects. They use different metrics like NPV, payback period, Cost benefit ratio
and things like that. It depends from organization to organization. So C looks like a good one.
Dis The customer, Now lot of people might have selected this option, but let me tell
you one thing. Let's say I'm handling five customers and I'm getting one project from
each of these five customers, will the customers tell me that Varun, my project is more important
than your customer B or C or D. They can of course recommend it but ultimately it's not
their decision right. I am doing the projects for them. So it is up to me or my organization
to determine whether which projects are more important. So customer do not have the power
to determine whether their projects is more important as compared to others and things
like that. A lot of customers try to do that but honestly it's not their responsibility
of doing that. So as you can see using elimination technique I eliminated all the options and
the correct answer in this case is C, which is the PMO department, refer to PMBOK sixth
edition, Page 48. One thing I would like to let in this is that there are different types
of PMOs in PMBOK itself so make sure you are properly going through that PMBOK. So write
the note of it on your sheet on your notes whatever you're making that, after this video
you will go to PMBOK and you will read on page 42 the different PMOs or you can actually
go to the video. There is a link to my video in the description, you can go to my videos
section also where in the introduction section there is one video on PMO's, so you can very
well go and talk about, learn from that as well. So let's move to next one: which of
the following is an enterprise environmental factor? Okay another important one! I know
a lot of people, actually I on a daily basis get many emails, I cannot even tell you the
count, and people are asking Varun can you tell me? One of my students from my mentor
program, they asked me, Varun can you tell me the difference between EEF and OPA, I always
get confused what EEF is and what OPA is. So let me tell you right now, and I'll try
in just one or two minute I can't explain the entire picture but at least I will give
it a try and do little bit of justice to this. So EEF is enterprise environmental factor,
something which is external to your project which might have an effect on your project,
something like, let's say you're working on a project and stock market crashed, okay which
might impact your project. So something which was not in your hand, but something externalwhich
impacted your project, this is an actual example of EEF, on the other hand which is OPA which
is known as organizational process asset , so in OPA what happens is something like your
processes, policies of your organization, like I'll say the lessons learned document
in the repository, where do you save all those things. That is an example of OPA, so something
which is internal to your organization, you have to follow certain policies and things,
all those are part of your OPA. If you want to know more about a EEF and OPA then in the
description there's a link to my website, my course videos, my questions, go back to
introduction management. The video is over there, you will see the difference between
EEF and OPA video, it's free no worries, just go ahead and enjoy. Again pause the video
and give me an answer of why do you think A is correct or B is correct C is correct
or D is correct. Let's see, Change management knowledgebase, okay as I told you OPA is a
kind of a repository, so the question is which of the following is an EEF, so change management
knowledge base is actually an example of OPA not an EEF because it's a knowledge base,
it's a repository.Repository is more like always an OPA so you can eliminate that. B
- Change control process, as I told you processes policies all those are always part of OPA,
so this is gone as well. C is identical historical information, the word historical information
is actually a key word for OPA, so you can eliminate this choice as well and finally
we have commercial databases, okay lot of people think and they might say it's a database
so is repository. No, commercial databases is something different, think of more like
something a benchmarking of something, or a risk database, if you are handling very
complex integration project then your risk level is very high, so something which is
external to your project, something which is not in your hand, that is the true example
of commercial databases. So lot of people get confused about the real meaning of commercial
database. This is, like benchmarking, like your risk, all those are actually example
of commercial database and this is the correct answer for EEF which is your enterprise environmental
factors, refer to PMBOK 6th edition page 39, there are a lot of bullet points in EEF and
OPA. so again write this note that you have to go to PMBOK page 39 and read those bullet
points of EEF and OPA. Okay, and if you want to understand through a video where I explain
this beautiful concept in much longer video, then of course you can go back to my website
which is in the description below and try to understand the difference between EEF and
OPA. In the introduction section there is a video on this also. Ok let's see the next
question, so good job guys, we are at question number 10 and you are doing a great job, I'm
sure you're learning a lot, try to learn the way I am approaching to a question and again
I'm not saying these PMP exam questions will come from this knowledge base, with this database
but of course more than 95% of my questions in my database my EduHubSpot database are
scenario-based and you will see questions, most of the questions of PMP exam would be
scenario based where they will be talking about what should the project manager do,
what is the first thing project manager should update and things like that. All the questions
would be on scenario base and you should practice good real scenario-based questions and see
how I am using this elimination technique of approaching into a question. So this is
what you need to learn from me through this video and of course to pass the exam, if you
need my mentor program, simply don't hesitate to reach out to my team, my email address,
my team's email address is below and if you don't want to reach how to my team and you
want to reach out to me directly, over here I'm giving you my direct email address, it's
my first name varun.anand@eduhubspot.com just reach out directly to me and trust me, I will
definitely reply to them. I am very very quick and that's one good thing about me, my students
tell me about me. So let's get back to a question, you are a vendor who has been asked to set
up a PMO on the buyer side of the organization, the customer requirement from the PMO is well-defined
framework where the PMO will provide various templates, forms, etcetera. Yes the PM's will
not report directly to the PMO, what type of PMO is this? Ok read the question and here
you go, pause it now and make sure you give me a reasoning that why you think supportive
is correct or controlling or directive or hybrid. Please do so now. Okay, let's do it.
So a couple of key words in this question, first is that there is a well-defined framework,
that is the first key word in the question. Second key word I would say, it's giving you
forms templates which is a good thing, and the third key word in this question is that
the PM's do not report to PMO, so PM's don't report to PMO. So, first of all there are
only three types of PMO defined in PMBOK sixth edition which is supportive, controlling and
directive. Hybrid is not type of PMO so you can eliminate that choice, so one answer option
is gone. Now, in the second PMP exam question, there are three other options which are left
which which actually gives you the forms and templates so if you see here, well define
framework is let's say Point 1, Forms and templates at point 2. So supportive means
which is covering point number 2, okay and in supportive since the power is very low,
PM's actually don't report or so it is covering actually point 3 also however supportive does
not have a well-defined framework so that is missing from supportive, so A is gone.
Now out of B and C, let me do C first Directive is where PM's actually report to the PMO Department
only, so this is actually which is opposite of point 3, so in this question it says PM's
don't report to PMO but in directive PM's actually report to PMO, so C is gone as well.
Now the only one which is left is, controlling. So controlling is, of course you will get
the forms and templates which is point 2 of course PM's don't report to PMO so this means
it's going with point 3 also and the most important feature of controlling is that it
has a well defined framework, they have different processes they have methodology to follow,
which is actually the unique point of controlling, which is your answer option B, controlling.
I hope you like this exercise and I hope you selected B, if you did not select B and as
a lot of people don't select B, give me a reasoning that why you did not select B and
in the comments below. Now also you can actually go back to PMBOK page 48, pause the video
right now open the PMBOK page number 48 and try to see what are the different types. I've
tried to explain it to you and I hope you get it cleared, but if you're still confused
again please don't hesitate to reach out to me or my team and we will definitely reply
or even write a comment in the YouTube right now. I would reply to that as well. Let's
move to next question, question eleven. So if you see, whatever questions we are doing
till now, all the questions are actually scenario based. Most of the questions are actually
scenario based that's how your real example would be. This is the type of question you
should practice, not some simple. If you're scoring 70's 80's and some kind of questions
this means you are missing something. PMP exam, PMP certification is not easy, trust
me guys, it has to be lot of practice, not just thousands of question but doing it right,
using some concepts building and this questions, the way I am approaching it to you, I am trying
to show you how I am dealing with a question and this is how you should learn as well.
Let's do next question: you are an experienced project manager who has worked many years
with your company, you have complete knowledge of the processes and how things works in your
organization. However you have limited knowledge about project selection methods. So you have
limited knowledge about project selection methods, recently you have been tasked with
choosing the best project out of multiple selections, what should be your first step?
Okay so you have been given a task where you don't have the right knowledge, you're lacking
something, what should you do? Okay, so please go ahead, pause the video, think whichever
is the correct option, try to use elimination and give me the reasoning why you selected
that in the comments below. A- select the best project using your best judgment, okay
as I told you before, in the question itself it is saying that you don't have the right
knowledge. So if you don't have the right knowledge, how can you select the best project
what if you select the wrong project, so A is definitely out. B- as you have no knowledge,
refuse to take the assignment. Okay, as for PMI code of ethics and professional responsibilities
you are refusing to take the assignment, I can agree that you don't have the knowledge
but let the management take that decision and just don't simply refuse it. You are here
to learn something new, simply refusing it that I cannot do it is not the right thing.
The same approach goes to a PMP exam also, just by watching couple of videos or going
through a boring PMBOK, you decide that I cannot do it, please think again. This means
you are not doing something right, so if the approach is right you will definitely pass
the exam. C- get an expert person to select the best project, this looks like a good option
that you are taking someone's helps to help you select the best project. D- inform the
management about your lack of knowledge and the particular area, okay D looks like a good
option as well. Now out of C and D, both of them looks good but D is a better choice and
I'll tell you the reasoning why, C means that you are taking experts help but in this case
you are not informing the management that you took expert's help. You are trying to
show it to the management that I did this job, yeah which is unethical, which is not
right. In D you are being ethically safe and sound and you're telling the management you
don't have an experience, if you want me to give me an expert and take help from expert
I am fine with that or if you agree or if you believe in my judgment I'm fine with that
also. So in option D, you are actually being honest about it , that's what it is and we
selected option D as the right choice, refer to PMBOK 6th edition page 3, PMBOK page 3
has only I would say a one small paragraph on PMI code of ethics but if you want, just
send my team an email and we'll share the PMI code of ethics and even if you want let's
say the ITTO sheet, it's free of cost, you can actually go on my website and download
that on the homepage itself or you can send us an email, we can share the ITTO sheet and
of course the PMI code of ethics, but more than reading a PDF it's better to watch a
video, an interesting video which is on my website, again of course in the introduction
section on PMI code of ethics, so make sure you are watching that. Let's move to next
question, project A has a benefit to cost ratio of 24%, okay so project A has BCR of
24%, project B has BCR of 9%, project C has BCR of 41%, and project D has BCR of 16%,
which is the best project out of these? Ok, make your guesses, pause the video, select
the answer and course in the YouTube comments give me a reasoning why you selected A or
B or C or D, again just please don't simply write A or B is correct, I don't want to see
that. It's of no use to you and it's of no use to me, what I want is to learn out of
it, give me the reasoning, I want to correct your reasoning if it is wrong. Okay, so we
can clearly see, project C has the highest percent and project B has the lowest percent
and we are talking about BCR, which is benefit to cost ratio. benefit divided by cost; benefit
to cost ratio. Now in BCR, higher the BCR, the better it is for the project.so the project
with highest BCR should be selected which is project C, now in the same question if
I would have given you CBR which is cost-benefit ratio, which is cost divided by benefit, which
is actually opposite of BCR, in that lower the number the better it is. which is project
B of nine percent, so if CBR was given I would have selected B, if BCR is given I would select
C. A and D are completely out, now in the exam it's not necessary that you will only
get BCR or CBR. There are a couple of other terms also which is NPV, payback period, opportunity
cost, and there are a couple of other terms also, an important one. Of course I've given
some questions and I've explained those questions on these different terms but in order to understand
fully grasp this concept. Again, I would want you to go to in the description below, there
is a link to my introduction management videos, go and watch the project selection methods
video. You will love it and you will see the way how I'm approaching to the question. So,
in this one the correct answer is C higher the BCR the better it is, refer to PMBOK sixth
edition page 34 for more information. Okay let's move to next one, you are managing a
project which is in planning phase, you have completed developing the project Charter and
this project contains multiple phases with multiple contractors, so you're dealing with
lot of stakeholders, the contract contains propriety information from vendors, one of
the functional managers of your organization wants to view this information. Okay some
propriety information, what should you be your response to them? Please again read the
answer options, select which one is correct to you and give me a reasoning in the YouTube
comments, why you selected that? Pause the video right away, okay let's do it, now first
of all tell me is it okay to share information with your colleagues in the same organization?
That is the first thing, a lot of people might say no Varun it's not okay, but honestly it's
not true. You can share information with your colleagues, for example like I most of the
time whenever I do some kind of project, I actually go back to my repository and I use
various templates, forms etc all those things, so that I can reuse them, but this situation
is little different, in this situation is the propriety information is given to us.
So, you cannot actually share the information because the word propriety is given, however
if the word propriety was not given, then of course you can go ahead and share the information.
So let's see, A-the functional manager is not part of the project you should deny it,
which makes sense, okay so let's keep A. B-you can share the information with them because
they belong to the organisation. As I told you, since the word propriety is given you
cannot share the information. So B is out. C-deny the request to protect the confidentiality
of the information. Okay, so C is also saying that you should not. D- accept the requests
but tell them not to share the information with anyone else. Okay, you are being unethical
if you share that information which has some proprietary information. So D is out as well.
Now out of A and C, A is saying you should deny it because that person is not part of
your project, C is saying deny it to protect the confidentiality of the information. Now
as I told you, you can share the information with your colleagues even if they are not
part of a project, if the word propriety isnot given. So this means A would have been correct
if the word propriety was not given, but in this case the word propriety is given so this
means you have to protect the confidentiality of the information. So out of A and C, I'm
not saying A is bad but I'm saying C is better, so a lot of time you will see these questions
where you have to select a better answer option and that's what we did, so C is a better choice,
refer to PMBOK 6th edition page 3. Okay let's move to question 14 now, you are a project
manager and you have divided the product development into series of iterations where you will be
adding more functionality during each iteration, after the final iteration your product will
be completely functional, what development lifecycle are you following? okay another
good one, another good question and I'm sure a lot of people might have got this question
wrong. NO, you have not attempted yet, give me the answer what do you think is A correct
B correct C correct or D in the comments below and give me the reasoning why do you think
your preferred selection is correct. So, pause the video right away and I'm giving
a minute to do so and before that and I'll explain that. These life cycles are actually
very important topic honestly, and I cannot do a true justice if I explain these life
cycle in this video, so in the description below there is a link to my video sections
in my website, go to my introduction management video and over there I've actually explained
life cycles also, it's free of cost, just go there and try to understand different life
cycles, a very important topic from the PMP certification perspective, PMP exam perspective
very important. Now think of predictive life cycle more like a waterfall model; waterfall
model is where your scope is defined, your cost is defined, everything is defined up
front and then you move to the next phase, so that's not what we are talking about in
this question, this question you are actually adding functionality in small chunks. I'll
give you an example and hybrid life cycle is like a combination of different , combination
of agile plus something else like waterfall plus agile and things, so hybrid is out as
well. Now out of Iterative and incremental, first of all both of these actually run hand
in hand, think from this perspective that you want to make a login page, so in first
iteration what you did, you added a username box and you added a password box, that's your
iteration 1, and I'm explaining actually incremental life cycle to you, then an iteration 2, in
iteration 2 what you did, the username and password was already added but you added a
functionality which is forgot password link. Then in iteration 3 what you did, user name-password
was already there, forgot password was already there, but once a person gives the clicks
on the right option or gives a right combination of username and password, what is the first
screen they will see, so what you're doing is that after iteration 3 I can say that this
product, whatever I am making, in this case this web page is fully functional. That is
known as incremental life-cycle and that's what we have explained in the question, you
want me to read the question again for you, that will explain it to you in more sense.
Let's read it, you're a project manager and you divided the product into series of iteration
where you will be adding more functionality during each iteration, after the final iteration
your product will be completed, that's exactly what we did and when we do it step by step
we are actually doing different iterations. In different iterations we do something, that
is iterative life-cycle but when I combine everything together, 1- 2- 3, that is known
as your incremental life-cycle. If you want to understand this in much more detail, then
I request you to go to my introduction management video, not now but once you're done with these
questions, it's not a big video, make sure you're watching this video completely but
write it down in your notes that you have to go to introduction management videos and
try to understand those concepts as well, and if you need any help, you want me then
just send me an email, you can reach out to my support team or you can send me an email
as well. I will give you my email address at the end of this video so don't worry. Okay
so in this case the correct answer is C, refer to PMBOK sixth edition page 19. Okay so we
are almost there, I hope you are learning from this exercise, stay tuned and keep on
going, you have to learn a lot, you are in the learning phase, so just this keep on doing
the hard work. You guys are doing great, next one, your customer requested a scope related
change during a project, which is very much normal, Right? The change was formally approved
by the Change Control Board and you are in the process of implementing it. Okay, so there
was a change request that change got accepted and approved and you are providing regular
implementation status to the customer. So your team has actually started implementing
also and you are giving implementation status to the customer, what is the correct term
for the information you provide? Okay, please pause the video right now, give me the reasoning.
We are talking about work performance data, information or work performance report or
we are actually talking about PMIS, so please pause the video now. Okay, I hope you selected
the right answer in the YouTube comments below, I hope, but the key word in this question
is implementation status. Implementation status is actually part of your work performance
information, you are sending information to these stakeholders that this is where we are
on this change request, now a lot of people actually get confused and I get this email
a lot where Varun, can you explain what is the difference between work performance data
and work performance information, and work performance report and I always tell them
think of work performance data as raw observations, and think of work performance information
as something substantial, when this raw observation gets converted into something more substantial,
something like CPI, SPI value, that is your work performance information. When you send
this CPI,SPI, in some kind of report that is known as work performance report like your
weekly status report. and finally we have the PMIS, the key word for PMIS is repository,
now if you see clearly that we are on the question number 15th actually, you can see
that how beautifully I am coming up with these keywords for each of these different terms
and your entire PMP preparation is actually based upon keywords and you have to learn
those keywords. If you want to learn those keywords, if you want to be part of my mentor
program, just send me an email and I'm sure you will like it. So out of all of these,
we are not talking about raw observations, we are not talking about some kind of reports
but we are talking about implementation status, something more substantial; which is your
work performance information. So in this case the correct answer is B, refer to PMBOK 6th
edition, page 26 or write a note right now that you have to go back to page number 26
of PMBOK and understand and read the three different work performance data, information,
and report. And if you are confused with the PMBOK language, which a lot of people are,
make sure you go to my video in the introduction management and see how I have explained these
differences. It's in the introduction section on my website and I hope you know my website,
it is www.eduhubspot.com, let's move to next one, okay Your CTO requested a feasibility
study comparing two separate software platforms, what plan/document would you share with him
or her? Basically they are trying to ask you which particular plan or which particular
document has feasibility study mentioned in that. Okay, please pause the video; give me
the reasoning why you selected A B C D in the YouTube comments now. Now, before I start
explaining this question to you, I want to tell you a trick. Trick is known as father-child
relationship and this is actually authored by me; Varun. What is this father-child relationship,
this father-child relationship is that whenever a question is being explained and there are
both father as well as child in the answer option, you will always select the child.
What do I mean by that? Let us say a question says, give me which of the following plan
or document has the information about how you can control scope, this is the question,
How you can control the scope? A lot of people will think the answer is project management
plan because that has information about how you can control scope, let's see there is
another option which is scope management plan, lot of people might select scope management
plan. Now if you see properly, project management plan is actually a combination of I think
18 or 19 sub-plans, Right. All of these plans, I call project management plan as the father
and I call the scope management plan as the child. Now out of this father and child, you
will always select the child, which in this case is Scope management plan. Now why I explained
this theory to you and I've given lot of similar theories in my course videos, so you should
learn, you can go to my introduction videos and learn from it but why I've given this
theory specifically in this question is because this question talks about the feasibility
study, now in the feasibility study, feasibility study is actually mentioned in project charter,
it's actually mentioned in project business case. Now out of charter and business case,
I would call Project Charter as the father and business case as the child. Why?
Because If you remember, one of the input to develop project charter process is the
business case, so business case actually is the input to the Project charters, business
documents are actually the input to the project charters and they actually give you that feasibility
study information. As per the Father-Child theory, you will always select the Child,
which is your answer option D, B –The project management plan is out, Benefits management
plan talks all about benefits only, it's not talking about the feasibility study so C is
out as well, so the correct answer should be D which is the project business case, refer
to PMBOK page 29 and 30 for more information. Okay, let us move to next one, you are chosen
to be the project manager for a job in another country, so you're working in another country,
it's not your home country. The customer hosted a project kick-off party, and give valuable
gifts to all project team members. I hope I get a customer like this, who gives valuable
gifts, I'm just kidding, that's not ethical. The customer also requested that you complete
the project sooner than anticipated, what should you do? Okay, first of all, accepting
gifts is it a good thing or is it not a good thing? Honestly it depends upon what type
of organization you work in but if it is not given then you should not accept gift, it
is unethical. Now again I want you to pause the video right away, in the comment section
below give me the answer, what do you think is A correct, B correct, C correct or D correct,
give me a reasoning for it, please just don't write the answer option, give me the reasoning.
Okay A- accept the offer because it is not considered a bribe, as I told you, if it is
not mentioned that your organization policy permits you to take gifts it is considered
to be a bribe, so you should not take it. Reject the offer because it violates the code
of ethics and professional conduct, that looks like a good choice well let's read the other
ones as well. Politely refuse the offer and accept the customers demand of completing
the project sooner, okay I am assuming you might have selected C, a lot of people actually
select answer option C for this because you're politely refusing ,instead of just upfront
rejecting the offer you are politely refusing the offer. Now that I can agree that politely
refusing is a better statement than rejecting the offer, but this second statement which
is accepting the customers demand of completing the project sooner is not right. Without even
doing the impact analysis, without doing this triple constraint triangle and doing the impact
analysis, you cannot just simply go ahead and accept the customers demand, so if you
accepting that this means you are not following the proper process, so definitely C is out
as well. D- politely refuse the offer and don't do anything, okay now out of B and D
both of them are saying that you should reject the offer or you should refuse but B is more
sound, more robust, why? because B is giving you a reasoning that why you should reject
the offer and instead of just don't do anything. Most of the time keep one thing in mind that
not doing anything is not the correct thing to do on your project, it's not allowed and
this is against PMI code of ethics and professional responsibilities. So in this case the correct
answer is B refer to PMBOK page 3 for more information. Okay tired, keep on continuing,
few more questions and I'm sure you will learn a lot, you are learning a lot so take a break
if you want, pause this video, take a glass of water, coffee ,tea, coke, whatever you
like it go ahead to it, and I'm sure you will love it, you're learning or not this is more
of a learning cycle. Man, I am also speaking without drinking water, so go ahead. If I
can do it you guys can also do it, let's do the next question, which of the following
is not considered a project? Okay read the four options, pause the video, give me the
answer option and give me the reasoning why do you think so. Which of the following is
not considered a project? An easy question, let's see remodeling a kitchen, okay first
of all always remember and I think I told you in this video also, project has to end.
It has two keywords, first end date, a project should not be like an operation like going
on and on and it should have a definite end date and second, a project should be unique.
Now in this question it is all about which of the following is not a project. Remodeling
a kitchen, of course you think that remodeling a kitchen will have a definite end date, Right?
So that is gone. B- building a metro line that will connect cities, of course that will
have an end date, I am assuming that might have a longer duration and it but of course
that will definitely have and end date, so it is also out as it also a project. C- running
an IT Help Desk team, okay running a team. Okay, this is something which is more like
an operational term, I don't think that is very specific, that will have an end date,
you just keep on doing the same thing again and again and again so C looks more like an
operation instead of an end date, so this is actually the correct option. Shooting a
feature film, of course you will have an end date to the film that's why we all can go
to multiplex and watch that right so D is also out. So out of all the four I think C
is like the best choice, let's see if to PMBOK page six for more information. Thank you.
Okay next question, we are on question 19; you are conducting a JAD session for collecting
software requirements, your customer forces you to include a requirement which you believe
is impossible to implement because it works on an unsupported version of a browser. What
should you do in such a case? Okay again, I repeat, please pause the video right away
select which option do you think is right and give me the reasoning in the YouTube comments.
As you might see that I am replying to each and every comment, so if you really want me
to help you then I really want you to follow this principle, make sure you're giving me
reasoning so that I know where you are making mistakes and what mistakes are those. Okay
let's move on, A is You don't document the requirement, B is document the requirement
and consider it as a risk, C is try to understand the customers point of view before documenting
the requirement, and D is customer satisfaction is a primary goal so document that requirement.
Okay so you believe that this requirement is something which is impossible to implement,
so should you just go ahead and write it because your customer wants that. Okay let's see it.
A-Don't document the requirement I would say maybe correct. B- document the requirement
and consider it as a risk, I would say again, maybe but not the best. C- try to understand
the customers point of view before document that requirement, okay if customer is pushing
you for a requirement you really should try to sit with him, understand what his or her
expectation is and give your expectation and explanation to the customer, so I think just
simply taking a decision on Don't documenting the requirement or documenting the requirement,
it's better to have a discussion first, before you take an extreme step, so C looks like
the best till now. D- customer satisfaction is a primary goal so document the requirement.
Okay, in real world I can say customer is God, for me also like you guys who are watching
this video, customer is God but in the PMIS perspective customer is not God, in your PMP
exam keep one thing is my customer is not God, so whatever statement where it is saying
that your customer satisfaction primary goal go ahead and do that, no you won't do that
so D is out as well. So, in this case the correct answer is C, refer to PMBOK page 3
for more information. Ok next we are on question number 20th, let's see it, let's do it. Tom
is a project manager who is always seen with the PMO director. He excessively and insincerely
praises the PMO director to get his work approved what type of power is Tom practicing? A good
question I would say, again pause the video, give me the reasoning which one did you select
and of course please give me the reasoning, I request you please give me the reasoning
for that. Ok so in this answer as you know PMP exam, PMP certification has only four
answer choices. So over here I'll be explaining these four answer choices to you but honestly
in your PMBOK guide sixth edition there are many types of power which are explained, so
I would request you to go to my roles organization video in the in the introduction section on
my website, the link is in the introduction section and try to watch that, you will definitely
learn a lot and this is a very important topic. So first we have is the positional, it is
more like a formal, let us think from this perspective , I am your boss on papers, I
do your performance evaluation, that is your positional power when you show. In this question
it looks like that what Tom is doing is, Tom is actually insincerely praising it, so that's
not position. Relational is when you say that, I am related to the vice-president of the
company I play golf with that person, that is more like a relational. So over here the
key word in the question is relational, it's insincerely praising. Ingratiating is something
which is where you are in sincerely praising the customer, that's actually the key word
for Ingratiating ,so you should select C which is your correct answer, and D is referent,
it is people respect you because you have gained that credibility so that's not what
we are doing here. So out of all the 4, C looks like the best answer choice, please
refer to PMBOK page 63. Okay next question, you are in the process of gathering high-level
risk for the project that has to be documented in a project Charter. One of the key stakeholders
tells you that this project will not succeed because you don't have support from the local
government of the developing country, where majority of the work will be done. What should
you do in this situation? Okay again please pause the video right away, think of the answer
and give me the reasoning for that answer option in the YouTube comments below. Okay
let us do it. A- immediately stop the work and reach out to sponsor for his or her advice.
Really guys, as per PMI code of ethics you should not the straightaway go to sponsor,
first try to find a solution and then if is something not in in your control then you
should escalate it, so A is out. Find the reason behind the stakeholders comment, okay
if the stakeholders has given you some information of course you should do some due diligence
at your end and try to find the reasoning behind it. Right? so B looks like a good choice.
C -document the stakeholder comment in the Charter and continue with the project as this
risk will not affect you. Who are you to take the decision that this risk will not affect
you. The complete definition of risk is something which is unknown, which can happen on your
project, Right? So I'm not saying it will necessarily happen but it might not happen,
it happen also, right? So again before you document it, first you should get the reasoning
and then you should take a decision. Therefore, C is out. D-ignore the stakeholders comment
because the project sponsor already knows about them, okay where did the question state
the sponsored already know about it and how can you even ignore it. This is a risk to
your project you cannot just simply ignore the situation, so D is out as well. So out
of all the four options, B looks like as the best choice, refer to PMBOK 6th edition page
3 for more information. Thank you. OK, next question we have question 22, it's
been one year since you were hired by an organization. Your manager allows you to set your own goals
and make your own decision. I wish I have a manager like that. What type of leadership
style is being displayed by a manager? Ok a pretty good question and these leadership
theories are very-very important from your PMP certification, PMP exam perspective so
make sure you are going to PMBOK, you are going to my introduction management videos
on this section and watching that, lot of concepts and over here will just explain the
four concepts. Ok another point, pause the video right away give me the reasoning for
it why you selected that option in the comments below. Ok, so first is Laissez-faire, second
is Servant leader third is Transformational and fourth is Charismatic. Ok, Laissez-faire
and this is actually the answer of this question, and it's answer option A. Laissez-faire is
a leader who believes in you, a leader who let you handle it, set your own goals and
will be always ready to support you in order to make sure you are reaching to that goals,
so that is the true definition of Laissez-faire which is actually explained in the question.
Servant leader is someone who put people first and then the work, so Servant leader is someone
who will say that, ok let's say if there is some firing going on, Servant leader is someone
who would try to make sure that firing doesn't happen in his or her department because for
him people are almost given more perspective, that is not being described in the question
over here, they have said he or she lets you make your own goals and that is actually the
definition of laissez-faire. Transformational is something which is based upon inventions,
like an entrepreneurship, like all those good things will come from transformational leader,
something like this thing where I'm explaining a question to you in the video itself, I don't
think so any PMP exam simulator does that. Till now I'm pretty sure nobody does that,
where they explain questions to you, where they are doing some kind of elimination techniques
and helping you on that, I don't think so. So this is a transformational leader has taken
that decision of giving something similar to the users. Charismatic is someone of you
are just impressed by the personality of the person, if someone is doing that that is the
charismatic, very good speaker all those are actually good adjectives of charismatic leader.
So in this case the correct answer is Laissez-faire. As I told you before, there are many types
of leadership style and these four are just four, but I think there are six to seven,
I do not remember the exact numbers. So what I would recommend is, in the description below
you will see the videos, a link for my introduction section videos, just go and watch those videos.
Trust me you will love a lot and you will learn all the different types of leadership
style. Okay, come on guys you have done it, we are still three more questions 23 24 25,
just three more questions, you're doing great. If you have reached up to this stage, this
means you have done a lot of hard work and these three questions might be the game changer
for you. Okay, let us do it. You're a project manager and you have borrowed two resources
from the functional manager for a product development project. It happens, Right? The
two resources; Ryan and Harris constantly argue about two product features, okay conflicts
are happening that is also very much normal. Due to this the deliverables has missed some
deadlines, that's not good. What should you do in this scenario? Okay what do you think
is the correct answer choice, mark it below in the YouTube comments, I am giving you a
minute I will just pause this video right away. Okay so now it looks like that there
are two resources, they're having conflicts and it looks like your deliverables are being
affected by it, what you should do? A- remove them and request two new resources. Okay,
without even talking to them you will just simply go ahead and remove them, are you are
you sure you will take such an extreme step. A is out, that is too extreme of a decision.
B- meet with them and try to find the root cause, I think in a in a normal scenario also
in a real world perspective I think the first thing I would always do is to meet with them
and try to find a solution before taking any extreme step. C- escalate to their functional
managers , again the same thing, I won't go and escalate to the functional managers even
if my deliverables are being effected, firstly as a project manager it is my job to make
sure I talk to them, if option B doesn't work then yes I will escalate to the functional
manager, if that also doesn't work I'll probably remove them which is answer option A, but
my first thing would always be to talk to them. D- request the remaining resources to
work on the missed deliverables. Okay, are you sure about that? You should find the root
cause and you should resolve the root cause of the problem, not just request other people
to start doing their work, that is not a good a long-term solution, might be an interim
solution but not a long-term solution. So out of all the four options B is the best
choice and of course refer to PMBOK sixth edition page 3. A small paragraph on code
of ethics but if you want bigger document reach out to my support team or you can reach
out to me directly also or if you can go to my introduction management videos, there is
a complete video and code of ethics as well. Okay, next question you are working on a project
for a non-profit, as a part of your organization's process you need to fill out various forms
to make sure that you are doing the right thing at the right time, that is actually
work authorization system; doing the right thing at right time and right format. These
forms are related to the environmental changes, which are caused by the project. Okay a good
question, so it looks like that there are some mandatory forms which you need to fill
and your project is actually causing some environmental changes, as I told you something
which affects your project, something which affects your project externally is an example
of enterprise environmental factors which is your answer option C. We are not talking
about portfolio or program over here, program is something where we are talking about similar
projects or portfolio is like a combination of different projects, programs and operations
and things. We are not talking about that, so both A and B are gone. Now out of C and
D, you might think that Risk mitigation is one of the answer choice, then why not Risk
mitigation is the correct choice, there is not just one technique of risk technique,
if it is a threat there are many other. Like there is avoid, there is transfer. So you
can use actually many other risk technique. Where did I say that by filling up the forms
you are mitigating the risk, are you decreasing the probability and impact of those risk by
just filling up the forms? No. Right, so D is out as well. So out of all the four options,
this is an example of enterprise environmental factors, so in this case your correct answer
is C, refer to PMBOK page 38 6th edition for more information. Okay guys, you did a great
job we are in the last question which is question number 25. So if you have reached till now,
first of all I want to congratulate you and I'll give you some important information about
after this question 25 as well. So stay tuned you have learned a lot and I am sure that
I did a good job in explaining those videos to you, but make sure you have learned a lot,
you have collaborated with me, I have been replying to all your comments on YouTube and
that is how it is. Let's see, you have been assigned as project
manager for a software development project, the cost estimate for the project is $100,000,
however you feel that you cannot complete the project within this budget. As per your
analysis the estimate should be at least $125,000 your sponsor is willing to start the project
with another project manager if you don't accept it. What should you do in such a scenario?
So it looks like that your sponsor is pushing you to start a project with an estimate which
you think which you are not comfortable, which you think is not at all possible, what should
you do? Okay last question, so make sure you are pausing the video and giving give me the
right answer, A B C or D or whatever not just right answer, if you think why not C is correct
option and give me a reasoning for that. Okay Let's see. A- Stop the work until your sponsor
accepts your estimate. don't you think so it's a too extreme of a decision to stop the
work immediately. So A is gone. B- Ask the sponsor to assign this project to some other
project managers, remember PMI code of ethics and professional conduct, you should take
the responsibility, you should not just tell the sponsor to take someone else. In this
way you are actually shying away from your responsibility, so B is not right as well.
C- submit detailed facts supporting your estimate and then let the sponsor make a decision.
Okay, now in this option you actually did your part by giving detailed facts, so give
detailed facts to the sponsor and then let them take a decision. If they want to go with
another project manager they can very well go ahead, but you should not accept the wrong
thing. Before taking an extreme step you should give reasoning and points which answer option
C is doing. D-document the limited budget as a constraint and continue working on the
project, again in this you are actually accepting the wrong thing and you are continuing so
you are actually set up for failure in this case which you should not be so D is definitely
out as well. So out of all the four options C looks like the best choice, refer to PMBOK
6th edition, page 3. So here we are guys to the last section and I hope you have liked
this exercise, just in case if you want to enroll in my program I have couple of requests,
if you like this exercise and if you want to know more about the PMP, if you want a
study plan then couple of things I want you to do.
First, subscribe to my YouTube channel and it is not just a marketing pitch that will
help me increase the subscribers, of course it will help me but the real reason why I
am asking you to do is because I always come up with new videos and you want to learn from
those new videos, Right? So you should subscribe it. Then if this is your second attempt or
third attempt and even if it is your first attempt, you are clueless, you started preparing
but you are not sure how to proceed ahead or you're confused, you find PMBOK very very
boring and you want my support, mentor support in order to make sure you successfully pass
the exam then this is my email address varun.anand@eduhubspot.com, just shoot me an email and trust me I reply
to each and every email I got and I get a lot, and I reply to each. On one section you
will see my next video lessons here and on one section you will see my favorite video,
so go through these couple of videos in the description there are all the links and I
am sure, I will get you this three-letter word which is known as PMP after your name.
Thank you
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