Great stuff! very helpful for PMP. On question 5 - PM doesn't normally have the authority to spend management reserves as it needs to be approved by the project sponsor. So could it be answer C ? or D assuming it has the management approval first?
I am just going to add my 2 cents. Continguency Reserves are for Risks only and Management Reserves are for Scope changes. No. 2 - PMP Rule No. 671 🤣Never assume and add additional information and always treat the answer in a way as if everything has been included in the question to guide you.
Congratulations on passing your PMP! That is an amazing achievement 🎉 I personally find the easiest ways to get PDUs are to do project work, and then do ongoing study (I recommend the PMI-ACP). I did mine via Udemy courses so they were not expensive. Often if you do any courses at work, they will count too - 1 PDU per hour of the course. You Can log your PDUs on the PMI website as you go 🙂
Hi David, could you please recheck the answer of qty 3 and explain once more? I think it seems keep satisfied for most influence but les impact... Thanks.
Question 5, management reserve can be used for those with in the scope, however the question says that this was a functionality that they missed to add in this case can you explain the mindset how we as PM need to go side that this is with in the scope?
I'm not the expert. I think that the PM normally has the authority to utilize the Project Reserve normally for items within the scope. I agree with David that a requirement missed in the scope would be a good candidate for management Management Reserve. I wonder if on the actual test, PMI might word it for the PM to request the reserve funds from management since I don't think the PM would have the authority to use these funds without approval from management.
Q2: Although we are a bit under budget, but how do we know the crashing approach will not go over budget? Also, what if fast tracking can already bring the schedule back on track?
Good question. We would need to check the overall budget to ensure we don't go over, of course, but that is not mentioned in the question. Fast tracking will also work, but given the context of the question - where we have budget to spare and need to bring the schedule back in line, the answer will match both those two: schedule crashing. You will often see questions on the exam that seemingly have two or more right answers - you will need to choose the best one.
Basically, fast tracking is associated with higher risk. Since the project has more budget to spare to "avoid" the risk, therefore crashing is the best option.
Hi David, what is the difference between the 6th Edition (emphasis on the 49 processes) and the new release of project processes from PMI? Why we are still referencing to the 6th Edition, should be the new process group guidance (published in Oct 2022) enough to cover the 49 processes? Thanks a lot.
Yes it was just a timing thing on my part for these videos, the content is almost exactly the same in the two guides (PMBOK 6 and process group practice guide). Main difference is the PM skills triangle.
David, could you probably clarify where the Change Management Plan process belongs to ? I can't find it among complete list of 49 processes. It should be somewhere in the Planning group.
Yes of course, 4.2, Develop Project Management Plan, the change management plan is a subsidiary plan that makes up part of the project plan. Page 88 PMBOK 6 🙂
@@davidmclachlanproject Ok I see it. But why e.g. Scope management plan is a separate process among 49 processes while Change management plan is not ? What is the logic that creates a process for a plan?
Id argue question 2. it's overly academic to say just because CPI is over one you can therefore crash a project. There are far too many things to consider before choosing crashing over fast tracking.
I dont get why for question 2 the answer is A. Shouldn't it be B? If you can bring the schedule forward without having to spend extra money to throw additional resources (manhours, over time) and can still bring the schedule back on track, isn't that the preferred option as opposed to spending more money? Not saying answer A is wrong... more so that answer B is the better answer.
Fast tracking increases risk, so why push for risk-inducing decision, when you can choose a safer option without having to spend extra money beyond the allocated budget (as you are under the budget with CPI 1.12). I think that's the rationale behind answer A.
In my opinion the answer to this question is to monitor the front desk workers.They have low influence and impact.if they don`t follow the rules,they can be replaced.I do not agree with the answer chosen by David on this one.
I watched most of David's videos on here, and they definitely helped me pass my PMP exam. Thank you so much. His method of teaching is excellent.
Hi David, i passed PMP today with 3AT. your videos were extremely helpful for my PMP success. Many Thanks, David.
That is great news! Congratulations 🙂🎉
I just passed my PMP 1st attempt (AT/AT/T). Thank you for your vidoes👍
I missed your PMP videos! Thank you for returning👍🏾
Thank you, David for all the effort you put into your videos just for us. We all truly appreciate it.
I've missed your teachings, so glad you're back. Hope all is well and thank you!
Hi David, I have passed my PMP exam today, thank you for providing the informative videos which helped me in learning.
Thanks,
Saad Ansari, PMP®
Bonjour pouvez vous partager avec nous vos clés de réussite ?
That is awesome news Saad! Congratulations on passing your PMP :-)
welcome back, missed your videos, have my Exam in a week, keep you guys posted.....
Hi David, writing the PMP next week, these videos are so helpful. Thank you!
Hi David, On 26th April, I passed my exam with 3 ATs, Thumbs up to your 200 questions of Agile, and the 150 questions of PMBOK7, I honour u sir
Many congratulations to you on passing your exam! 🙂
You've gotten me so good at agile it was nice to review some waterfall haha
Welcome back , we are very happy to you
Thank you for all.
Great stuff! very helpful for PMP. On question 5 - PM doesn't normally have the authority to spend management reserves as it needs to be approved by the project sponsor. So could it be answer C ? or D assuming it has the management approval first?
I am just going to add my 2 cents. Continguency Reserves are for Risks only and Management Reserves are for Scope changes. No. 2 - PMP Rule No. 671 🤣Never assume and add additional information and always treat the answer in a way as if everything has been included in the question to guide you.
Love the way you do questions
Just passed my PMP exam a week ago and your videos really helped. Bless you. However, how can I earn PDU;s going forward
Congratulations on passing your PMP! That is an amazing achievement 🎉 I personally find the easiest ways to get PDUs are to do project work, and then do ongoing study (I recommend the PMI-ACP). I did mine via Udemy courses so they were not expensive. Often if you do any courses at work, they will count too - 1 PDU per hour of the course. You Can log your PDUs on the PMI website as you go 🙂
Thank you once again, so helpful!
Great job. Thanks a lot!
Very informative and valuable.
Hi David, could you please recheck the answer of qty 3 and explain once more? I think it seems keep satisfied for most influence but les impact... Thanks.
I also thought this one was keep satisfied
I have learned more here than in my college 😅
Question 5, management reserve can be used for those with in the scope, however the question says that this was a functionality that they missed to add in this case can you explain the mindset how we as PM need to go side that this is with in the scope?
I'm not the expert. I think that the PM normally has the authority to utilize the Project Reserve normally for items within the scope. I agree with David that a requirement missed in the scope would be a good candidate for management Management Reserve. I wonder if on the actual test, PMI might word it for the PM to request the reserve funds from management since I don't think the PM would have the authority to use these funds without approval from management.
Great 👍
Q2: Although we are a bit under budget, but how do we know the crashing approach will not go over budget? Also, what if fast tracking can already bring the schedule back on track?
Good question. We would need to check the overall budget to ensure we don't go over, of course, but that is not mentioned in the question. Fast tracking will also work, but given the context of the question - where we have budget to spare and need to bring the schedule back in line, the answer will match both those two: schedule crashing. You will often see questions on the exam that seemingly have two or more right answers - you will need to choose the best one.
Basically, fast tracking is associated with higher risk. Since the project has more budget to spare to "avoid" the risk, therefore crashing is the best option.
Awesome experience
Hi David, what is the difference between the 6th Edition (emphasis on the 49 processes) and the new release of project processes from PMI? Why we are still referencing to the 6th Edition, should be the new process group guidance (published in Oct 2022) enough to cover the 49 processes? Thanks a lot.
Yes it was just a timing thing on my part for these videos, the content is almost exactly the same in the two guides (PMBOK 6 and process group practice guide). Main difference is the PM skills triangle.
David, could you probably clarify where the Change Management Plan process belongs to ? I can't find it among complete list of 49 processes. It should be somewhere in the Planning group.
Yes of course, 4.2, Develop Project Management Plan, the change management plan is a subsidiary plan that makes up part of the project plan. Page 88 PMBOK 6 🙂
@@davidmclachlanproject Ok I see it. But why e.g. Scope management plan is a separate process among 49 processes while Change management plan is not ? What is the logic that creates a process for a plan?
Thank you.
Many thx
Thank you :)
Great
Good 😀
Id argue question 2. it's overly academic to say just because CPI is over one you can therefore crash a project. There are far too many things to consider before choosing crashing over fast tracking.
If you can make it in French.
I don't understand every word in English
I dont get why for question 2 the answer is A. Shouldn't it be B? If you can bring the schedule forward without having to spend extra money to throw additional resources (manhours, over time) and can still bring the schedule back on track, isn't that the preferred option as opposed to spending more money? Not saying answer A is wrong... more so that answer B is the better answer.
You have a good point Mike, and with good reasoning behind it. That thinking is very good prep for the exam!
Fast tracking increases risk, so why push for risk-inducing decision, when you can choose a safer option without having to spend extra money beyond the allocated budget (as you are under the budget with CPI 1.12). I think that's the rationale behind answer A.
Question no.3 influence, impact grid, your explanation doesn't match the explanation at the bottom of the slide.
In my opinion the answer to this question is to monitor the front desk workers.They have low influence and impact.if they don`t follow the rules,they can be replaced.I do not agree with the answer chosen by David on this one.