PMP Preparation – Part 3 - PMP Preparation Book Reviews

Recommended books below have been updated for the 4th Edition of the PMBOK.

Here's the list:

1. PMP in Depth, Second Edition: Project Management Professional Study Guide for the PMP Exam, by Paul Sanghera. ISBN: 159863996X

I highly recommend this book, and recommend you read this as an introductory text for the PMP. Unlike the other books out there, this one structures the material based on the 5 processes, instead of the knowledge areas. This facilitates a better understanding of the PMBOK material and in addition, is completely self contained.

2. Head First PMP: A Brain-Friendly Guide to Passing the Project Management Professional Exam, 2nd Ed., by Andrew Stellman and Jennifer Greene. ISBN: 0596801912

Innovative book that uses lots of quirky visuals and other non-traditional methods to make studying for the PMP less tedious. This helps to reinforce and better retain topics important from the PMBOK that would otherwise require grinding repetition to retain in a more traditional textbook.

May not be to everyone's taste, but for me, it helped break the tedium of studying the other more traditional prep books. I think it's best used in conjunction with another prep book, but the book is stand alone in that you don't have to reference the PMBOK to fully understand the text.

3. PMP Exam Prep, Sixth Edition: Rita's Course in a Book for Passing the PMP Exam, by Rita Mulcahy. ISBN: 1932735186

Probably the most well known of the prep books. The book is really focused on getting you to pass the exam, and really pushes memorizing and test taking techniques. Not as self contained as the above two text, as you are referred to the PMBOK quite often.

Personally I found the tone of her text too threatening, in that she makes the PMP exam sound harder then it is in my opinion. Also, the book seems best suited to be used in conjunction with her prep classes, rather than to be read by itself.

4. The PMP Exam: How to Pass On Your First Try , by Andy Crowe. ISBN: 0972967346

Like Sanghera's text, this is a good introductory book to read to ease your way into studying for the PMP, but unlike Sanghera's book, it is not self contained. Has to be read in conjunction with the PMBOK for full benefit. Also, found some of the ITTO listings to be incomplete and the explanations not too in-depth.

5. Achieve PMP Exam Success, 4th Edition: A Concise Study Guide for the Busy Project Manager (Paperback), by Margaret Y. Chu, Diane Altwies, and Edward Walker. ISBN: 1604270187

The book I used in this the PMI-LA class I took in Spring 2007 and the class I taught in Fall 2007. Found this best used in the class, and especially as a reviewthe last couple weeks before the exam. In fact, I used it extensively for that and also found the CD with sample questions extremely helpful.

6. A Guide to the Project Management Body of Knowledge, 4th Ed. (PMBOK Guides), by The Project Management Institute, ISBN: 1933890517

I think it goes without saying that if your going to take the PMP exam, you must have this reference text. About 80% of what is in the exam is in this text. If you join PMI, an electronic copy is sent to you, but having a hard copy is sometimes convinient especially if you want to read it straight through.

The following books, while not specifically geared to preparing you for the PMP exam can and will be quite helpful:

1. The Fast Forward MBA in Project Management, Third Edition, by Eric Verzuh. ISBN: 0470247894

Excellent introductory book on PM. Has good diagrams, graphs, checklists and notes.

Found the book to be structured to and around many of the core topics from the PMBOK, with good clear explanations of topics such as WBS, network diagrams, and organizational structures.

2. Information Technology Project Management (with Microsoft Project 2007 CD-ROM), by Kathy Schwalbe. ISBN: 0324786921

The book is structured by all 9 PMBOK knowledge areas, and while not specifically a PMP prep book, covers all the topics of the PMBOK and does so from an IT project management viewpoint.

Gives very detailed, though somewhat text bookish (is used as a college text on IT project management) definitions, discussion questions, exercises, and suggested readings of PM techniques and methodologies, and is great for seeing how one would use PMBOK-like techniques from an IT industry viewpoint. In addition, has many relevant and real-world case studies.

3. Project Management: A Systems Approach to Planning, Scheduling, and Controlling, 10th Ed., by Harold, Ph.D. Kerzner. ISBN: 0470278706

Probably the most comprehensive book on PM. The latest 9th edition was written with the PMP/PMBOK preparation in mind, and each chapter concludes with questions and answers.

Chapters 11-20 go into the heart of project management such as planning, scheduling, cost control, estimating, procurement and quality. These chapter are indeed "hard-core" project management tools and techniques that are systematically discussed in depth. But this is where much of the meat of project management is discussed and where all the major PMP exam subjects are covered. Particularly relevant are these chapters:

11 - Planning

12 - Network Scheduling Techniques

14 - Pricing and Estimating

15 - Cost Control

17 - Risk Management

19 - Contracts and Procurement

20 - Quality Management

PMP Preparation – Part 2 - Methods and Techniques To Pass

I. 3 Methods to Pass

In my view, there are really three ways in which you can prepare for the PMP exam:

1. Deeply - going this way means you would allocate about 6-12 months prep time, utilize 4-8 reference sources (books, CD-ROMS, websites, etc.), and make sure you fully understand the PMBOK at and beyond the fundamental level and know where and how to apply this knowledge to various situations and problems, based on your past project management experience.
2. Cramming - cram for the exam in a 3-6 week time frame, use 1 PMP prep resource (the most popular of this is rita mulcahy's "PMP Exam Prep" which I will review in another post) and the PMBOK (if this is even read at all), and attend an expensive PMP Boot Camp that uses intense cram sessions, clever mnemonic memory schemes, and drilling of test simulation questions 1 week before the exam.
3. Medium - this technique should typically take 3-6 months, and would try to adopt the best of both techniques in a timely manner and based on one's learning abilities. For example, in months 1-3 you would read the PMBOK first to get an overview, then carefully read 2-3 prep books (or other resources) to ensure you understand the materials at a fundamental level and to make sure you look at more than 1 prep resource to cover an deficiencies it may have. In months 2-5, you would start to take intense notes, re-read the PMBOK to see how much better you understand it and make sure you have synthesized the material enough to be confident you will pass in a month or two. In the last month or couple weeks before the test, is where you would start focusing on how to pass the test specifically and utilize the techniques from the cram method.

In my view, the "medium" method is the best for most PMP candidates. It ensures you allow yourself adequate time to fully absorb and understand the fundamentals of what the PMBOK is trying to convey, as well as why knowing this would be important to pass the exam, which is almost everyone's goal. Then close to the exam, use all the cram tricks from the "cram" school of thought to tie up any loose ends and to get you mind set up and ready for the PMP exam that will be coming up.

Not only will doing it this way ensure you pass the exam, but will allow you to actually understand, retain and apply your hard earned knowledge to your daily professional project management career.

II. More PMP Prep Tips

The following are tips from a PMP prep class I taught in Fall of 2007 for PMI-LA, and I'm reprinting them here slightly modified and is valid as of 2007:

1. The exam is neither real hard, nor easy. Remember you only need 61% to pass, but it is definitely not a walk in the park to obtain that score. In general, it is better to over prepare, then under prepare but don't stress about so much that you burn yourself out!

2. The PMBOK is boring as heck to read, but from my research and own experience, I agree with the common consensus that you should read this at least 2-3 times. I would read it once to get a good overview, then read the study books recommended below and when you read it again, it will make more sense.

3. If there is one thing I would recommend above all else, is to really understand the 5 processes, 9 knowledge areas and the 44 individual processes that comprise it and know it inside out. But I DO NOT recommend memorizing these, but rather to have a deep understanding of how they work, inter-relate and drive a project from initiation to closing. The PMBOK as well as most of the test prep books and courses follow the knowledge area in this regard, but I would look at these from the perspective of the 5 processes of Initiation, Planning, Execution, Controlling/Monitoring, and Closing. This is because it, in my opinion, follows how a real project actually functions and makes it easier to understand, study and relate to.

4. Definitely do some practice exams. There are good online test sites that are quite affordable and have good test simulations. A good site is www.pmstudy.com. In addition, I took a class through PMI-LA and they used a book called "Achieve PMP" that came with a test bank CD that was more than sufficient. Don't waste too much money on these, for example, many people I know who I took the class with in Spring that also purchased the Rita FastTrack CD, felt it was a waste. Taking 4 full exams is sufficient, and any more may burn you out, stress you out, or confuse you. The Achieve CD is all I used and I passed quite comfortably. But if you need more, there are some good online resources both free and for pay that is more reasonable then Rita's $300 CD.

5. One good way of understanding the ITTOs (Input -> Tools and Techniques -> Output) is to write them out on flash cards, since 1) writing them out is an active way to study them as well as reinforcing the understanding process, and 2) is great at forcing you to see how I/Os are usually things like plans, change requests, corrective actions, etc., and tools and techniques are the analysis, methods, skills and systems used to feed inputs into outputs.

PMP Preparation – Part 1 - Overview

According to the PMI Member Fact Sheet, as of June 2006 there are a total of 192,599 Project Management Professionals (PMP) and no doubt that number has increased quite a bit since that time. In the US and pretty much the rest of the world (with the exception of the UK and other European country who lean more towards Prince2), it has become a defacto standard as such to gauge the competency of a project manager for better or worse. There has been and still is great debate as to whether the certification truly measures project management competency, and even whether it is a true certification at all, in the sense a CPA certification is regarded as a necessary step to becoming an true accountant.

Aside from these ideological battles, from a practical point of view, it will benefit a project manager more than harm him/her to get it and for the investment of around $1,200-2500 I definitely think it is worth it. Many PM jobs highly recommend and even require this designation, and if that helps you get a better paying job then the investment is worth it in my opinion. In addition, the certification has recently acquired ISO certification which is a world wide standardizing body and is the first certification to acquire it, which should help solidify the certification's global as well as domestic standing.

As the title of the PMBOK suggests, it is a body of knowledge and not a specific process framework to follow, though it does outline guidelines that one could (and probably should) follow in developing a process within the typical project management processes of initiation, planning, execution, monitor/controlling, and closing that is advocated in the Guide. This is in contrast to the Prince2 certification that is popular in Europe. But what this suggests, is that the topics covered in the PMBOK which in turn influences the PMP, is quite vast and one would assume that there would and should be considerable investment of time and effort to study for it.

But in fact, some of recent PMP prep services that have cropped up due to the increasing popularity of this certification, would lead you to believe otherwise. As this article by Mark E. Mullaly, PMP states succinctly:

The worst offenders in PMP preparatory training are the boot camps that promise an intense, focused week of cramming and guarantee success in passing the exam. This is all well and good so far as getting a passing grade goes, but how well do we hold onto this information over time? If we were to write the exam again 12 months after the boot camp—or even two months later—would we remember sufficient information to pass with a comparable mark? Will we be able to demonstrate our ongoing understanding of the PMBOK? And if we can't, just what was the point in taking the exam in the first place?

This type of preparation emphasizes the "binge and purge" type cramming done by many high school and college students across the nation (which I have been guilty of in my college days!), and encourages rote memorization, clever memory triggering schemes and techniques to evaluate the questions and answers to look for clues to find the best answer.

This is in opposition to the ideal way you should study for the certification, as Mark states, is to "learn the fundamentals of the principles being taught and, through a relatively deep understanding, be able to apply them to different situations and problems". Of course I agree with this assertion and is in fact the way I studies for the exam. But I realize everyone has different goals, inclination for studying and retention, and most importantly, finding the time. For unlike the carefree high school and college days, everyone taking the PMP are working professionals and in a profession that typically leaves little free time.

PMP Formula's

Q U A L I T Y

-------------

CoQ = ( ( Review Efforts +  Test Efforts + Training Efforts + Rework Efforts + Efforts of Prevention) / Total Efforts) x 100 %

PERT  =    O + 4ML +  P 

           --------------

                 6

MEAN -> Average

MODE  -> The "most found" number

RANGE -> Largest - Smallest Measure.

MEDIUM -> No in the middle or avg. of 2 middle Nos

STD. DEV. OF TASK  =     P - O

                      ____________

                           6

TASK VAR.  =   (P - O)  2   =   Std. Dev ^ 2

               ____________

                  6

                   _____________

CP STD. DEV.  =  √ σ² + σ² + σ²

SIGMA   1   =  68.26

        2   =  95.46

        3   =  99.73

        6   =  99.99

Channels of Communication

-------------------------

COMM  =  (N2 - N) / 2   =  (N x (N - 1)) /   2

P R O J E C T   S E L E C T I O N

--------------------------------- 

PV    =    F V   .      

          -------

          (1+r)ⁿ

FV   =  PV  x (1+r)

NPV = S  (  PV  +    PV +   PV  +   PV   )

           ----     ----   ----    ----  

          (1+r)ⁿ   (1+r)ⁿ  (1+r)ⁿ  (1+r)ⁿ 

Cash Flow = Cash Inflow - Cash Outflow

Discounted Cash Flow = CF x Discount Factor

ARR = S Cash Flow / No. of Years

ROI = (ARR / Investment) * 100 %

BCR  =  Benefits / Cost

Exp. Value = Probability %  x Consequence $

Class of Estimates 

-------------------

Definitive                   +5%

Capital Cost             +10-15%

Appropriation           +15-25%

Feasibility                  +25-35%

Order of Magnitude > +35%

Contract Incentives

--------------------

Savings = Target Cost - Actual Cost

Bonus  =  Savings x Percentage

Contract Cost =  Bonus + Fees

Total Cost = Actual Cost + Contract Cost

E A R N E D     V A L U E     A N A L Y S I S

---------------------------------------------

PV (Present Value) = BCWS (Budgeted Cost of Work Schedule)

EV (Earned Value) = BCWP (Budgeted Cost of Work Performed)

AC (Actual Cost) = ACWP (Actual Cost of Work Performed)

CV  =  EV  -  AC

CPI  =  EV  / AC  (efficiency)

SV   =  EV  -  PV 

SPI   =  EV  /  PV

ETC = BAC - EV   or     (BAC - EV) / CPI

EAC = AC + ETC 

EAC = BAC / CPI

VAC = BAC - EAC

%  COMPLETE  =  EV  /  BAC x 100

%  SPENT          =  AC  / BAC x 100

CV%  =  CV / EV x 100 

SV%   =  SV / PV x 100

Ref: Obtained from "PMP Exam Resource"

Fast Tracking

Fast tracking is a technique  that is often implemented in crisis and/or crunch times so to speak as it involves in taking a specific schedule activity and/or work breakdown event that has been previously scheduled and/or is underway and expediting it in some way or another. Fast tracking is referred to as a project schedule compression technique of sorts in that its intent is to take an entire schedule of a project and attempting to compress it into a smaller period of time by conducting some events either quicker or by doing some events that were intended to be done in a more spaced out manner but rather doing some of them simultaneously. The network logic has essentially been changed allowing for some items that would otherwise have been done in a sequence are instead overlapped as such. For more information please see the more general umbrella term of schedule compression and or crashing.

Crashing

Crashing refers to a particular variety of project schedule compression which is performed for the purposes of decreasing total period of time (also known as the total project schedule duration). The diminishing of the project duration typically take place after a careful and thorough analysis of all possible project duration minimization alternatives in which any and all methods to attain the maximum schedule duration for the least additional cost. There are a number of standard and typical approaches to attempting to crash a project schedule. One of the most commonly utilized methods of crashing a project schedule involves minimizing the schedule activity durations while, at the same time, increasing the assignment of resources on schedule activities. Crashing is something which can be utilized to attempt to get the most value out of a project assignment. Essentially, it boils down to an attempt to get the most productivity out of the least time and expense. Crashing is also similar to schedule compression as well as schedule fast tracking.

Schedule Compression

Over the course of a given project, often times, it is up to the project management team and or the project management team leader to make a determination that the previously determined and derived schedule may need to be modified and or tweaked in one way or another in order to accommodate one of more schedule events. This may be because a particular event is running behind schedule, or in other cases because a succeeding event's timing has to e changed one way or another. One technique that is often employed by the project management team and or the project management team leader is that of project schedule compression. Schedule compression specifically speaking is a technique that is employed that involves taking the previously determined sch3edule and shortening the project schedule duration, but doing so in a manner which does not reduce and or minimize the project scope in any way. The term schedule compression can be compared and contrasted with the terms crashing and fast tracking.

 

This term is defined in the 3rd and the 4th edition of the PMBOK.