Summary PMP in graphs, terms and formulas (logical explanation of everything you need to know for PMP 2024)
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Course
PMP
Institution
PMP
Consider this document your ultimate cheat sheet for project management. It consolidates key information from the PMBOK 6th and 7th editions, the PMI website, and a requisite course for exam eligibility. The document is meticulously structured and includes a comprehensive table of contents for effo...
Time management
Time on the clock # of questions Time to answer questions
230 min 1-60 75 min
10 min break
155 min 61-120 75 min
10 min break
80 min 121-180 75 min
Table of Contents
I. Project Management Terms ..................................................................................................................... 2
II. PM Principles ........................................................................................................................................... 10
III. Project performance domains ........................................................................................................... 14
IV. Traditional (Waterfall/Predictive) Project Management .............................................................. 25
A. Introduction to ITTO ........................................................................................................................ 26
B. Processes to Manage Traditional/Predictive Project .................................................................... 32
V. Agile project management...................................................................................................................... 51
A. Value-Driven Delivery ....................................................................................................................... 59
B. Team Performance ............................................................................................................................. 60
C. Adaptive planning ............................................................................................................................... 63
D. Problem detection and resolution .................................................................................................... 67
E. Continuous improvement.................................................................................................................. 68
VI. Hybrid life cycle as Fit-For-Purpose ................................................................................................ 71
VII. Commonly used models, methods, artifacts ................................................................................... 72
A. Commonly used models .................................................................................................................... 72
B. Commonly used methods .................................................................................................................. 86
C. Commonly used artifacts ................................................................................................................... 93
1
,I. Project Management Terms
Term Explanation
Project • A temporary endeavor that produces a unique product, service, or result
• Temporary in nature and has a definite beginning and ending
• Can be part of large Program or Portfolio
Note: Project is:
• Unique
• Temporary
• Progressively Elaborated
Project enables change (move from the current to desired stage)
Project Application of knowledge, skills, tools, and techniques to satisfy project requirements
management • Preparing a business case to justify the investment
• Estimating resources and times
• Developing and implementing a management plan for the project
• Leading and motivating the project delivery team (mange people to do the work)
• Managing the risks, issues, and changes on the project
• Monitoring progress against plan
• Closing the project in a controlled fashion when appropriate
Note: Project Management manages people to do the work
Program Group of related projects managed in a coordinated way to obtain benefits and control not
available from managing them individually
• Must be some value add in managing them together as a program
• A project may or may not be part of a program, but a program will always have projects
• Focuses on the project interdependencies and helps to determine the optimal approach for
managing them
Project Organizational structure that standardizes the processes and facilitates the sharing of resources,
Management methodologies, tools, and techniques
Office
Types:
• Supportive: Supports the project manager, such as providing templates, training, or lessons
learned from other projects.
• Controlling: controls the way the project is done by determining the framework or
methodology and use of specific forms
• Directive: Controls the project. PM will be assigned and report to the PMO.
Note: PMO could be a person or a group of people in the field who standardize the PM process in
the organization.
Portfolio A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed as a
Management group to achieve strategic (long-term) objectives.
2
, Operations • Deals with the ongoing production of goods and/or Services
Management • Considers the acquisition, development, and utilization of resources that firms need to
deliver the goods and services
Note: Organizations Management is opposite to a project. Operations do not have start/end date
(sales, finance, IT, accounting – same thing every day)
Value of • What value will this project bring to the company upon completion?
Projects • Why should we undertake this project?
• Money, Brand Reputation, Customer Service, New or Change product or Service
Note: Value of Project is the reason why we do this project.
Regulation is an official guideline that must be followed by the project, usually imposed by local or national law.
Standard is a guideline that should be followed, but is not mandatory.
Baseline is used to measure the performance of the project, such as cost, schedule, and scope.
System is a set of processes and procedures that a company will implement to manage something, such as
accounting procedures to invoice customers.
Phase • A phase is a collection of logically related project activities that culminates in the completion
of one or more deliverables.
• The number of the phases depends on the industry type and size and the complexity of the
project
• When a project is completed, the project stakeholders should conduct a phase gate or phase
review to determine whether to continue the project or end it. You should not start a phase if
you have not reviewed the previously finished phase.
• Phase gate is done at the end of a phase, deciding whether to continue to the next phase or
not.
• Kickoff meeting is generally done at the end of planning and sometimes at the end of the
project’s-initiated sections in order to start the next section.
Note: Phase is just activities
vs
Deliverable • A deliverable is any unique and verifiable product, service or result.
• May be tangible or intangible
• Must be accepted by the customer or sponsor for the phase
Note: Result (product, service)
3
, Project Life • A representation of the phases that a project typically goes through from start to finish
Cycle • Can be either predictive or adaptive
• Project life cycle can follow one of the three following methods: plan-driven (scope doesn’t
change), change-driven (scope changes), and hybrid (combination).
Project Framework within which project decisions are made
Governance Three pillars:
• Structure
• People
• Information
Stakeholders Individuals, group, or organization that may affect, be affected, or perceive to be affected by
the project.
Key Stakeholders
• Project Manager-manages the project
• Customer-uses the project deliverable
• Project team-the collection of individuals completing the project work
• Project Sponsor–Provides resources and support
• Functional Manager- Departmental Manager, i.e Manager of Engineering, Vice President of
Marketing, Director of IT. Generally, controls resources
Note: Stakeholders could be positively or negatively affected by the project.
Perceived to be affected = might or might not be affected but expected to be affected.
Project 1. Initiator: An initiator is someone who takes the first step or proposes an idea or action. They
Manager are proactive in bringing forth new concepts, projects, or solutions to problems. Initiators are
Roles often innovative, creative, and forward-thinking individuals who drive the initiation and
development of ideas within a group or organization.
2. Negotiator: A negotiator is an individual who engages in discussions or formal negotiations to
reach mutually agreeable solutions or outcomes. Negotiators focus on finding common
ground, resolving conflicts, and reaching compromises that satisfy the interests of all parties
involved. They possess strong communication, problem-solving, and interpersonal skills to
facilitate effective negotiation processes.
3. Listener: A listener is someone who pays attention to others' ideas, thoughts, or concerns
during conversations or discussions. They give importance to active listening, empathizing with
speakers, and comprehending the messages being conveyed. Listeners create a supportive
and respectful environment, encouraging open communication and fostering understanding
among team members.
4
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