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To Kerry, who sat next to me, at age one, through the creation of most of this book and smiled without complaint. To the thousands of project managers around the world who realize that striving to be better has its rewards and who have made this book the most real-world and easy-to-use guide to project risk management in the world. About the Author vii Introduction ix Pretest 1 Chapter 1: Risk Management Overview Chapter 2: Plan Risk Management 47 Chapter 4:
What You Need Before You c a n. The network diagram shows the flow of activities to be completed from project beginning to end.. The time-scaled schedule network diagram helps determine the critical path and the probability of completing the project within the required time objectives for the project.. End II:: The following are questions about the work breakdown structure to consider when identifYing risks: This tool can be used to decrease project duration by organizing the activities into parallel activities activities that can be done concurrently..
Effectively Begin Risk Management a To evaluate risks. Studies have shown that a schedule based on one time estimate per activity is only 5 to 15 percent likely to succeed! Time and cost estimates should be based on three estimatesoptimistic. Such convergence makes the activi! A near-critical path is close to the critical path in duration. The length of the critical path must be within the allocated time for the project.
To take this process a step further. An inexperienced person assigned to an activity on the critical path adds risk to the project. Why make the mistake of encouraging padding in future estimates and angering team members by telling them that they will have to complete the activity in a shorter period of time? Estimates that contain padding or other hidden uncertainties add risk to the project. Many project managers make the mistake of determining with the team one time estimate for each activity.
Dependencies should be appropriate and logical to minimize risk. Estimates for Time and Cost In order to minimize risk to the project and to improve accuracy.. This tells you that there are more risks to be identified. You may be able to move the resource to another activity that is not on the critical path to decrease that risk.
Parallel activities must be able to be completed at the same time in order to decrease risk. Places on the network diagram where many paths lead into one activity. Near-critical paths add risk to the project.! The result is an indication of the risk involved in the estimate. The project manager will have to negotiate and communicate with functional managers to get..
The following are questions about the human resource plan to consider when identifYing risks: Remember that in a matrix environment team members may not be exclusively assigned to one project. The human resource plan is a formal plan identifYing when and how the team and other stakeholders will be involved in the project Will they need additional training?
Communication is a critical part of successful risk management. The communications management plan is created by the project manager and becomes p. The process of risk management can actually shorten the project schedule and decrease project cost! The following are questions about time and cost estimates to consider when identifYing risks: I What You Need Before You Can Effectively Begin Risk Management The most professionally responsible way to shorten or decrease estimates is through identifYing and eliminating risks by following the risk management process.
The following are questions about the communications management plan to consider when identifYing risks: Specific communication checkpoints include: The plan may include the following information: Though some templates are provided in this book and can be helpful tools. Such procedures and templates should be high-level in nature and should be adapted by the project manager to the needs and nature of each particular project. Procurements can be used to transfer risk.
I What You Need Before You Can Effectively Begin Risk Management Procurement Management Plan A procurement management plan is a formal or informal plan for a project that describes what part s of the project will be purchased under contract or purchase order.
The following are questions about the procurement management plan to consider when identifying risks: These guidelines address such topics as procedures for risk management. Doing risk management well takes cognitive skills. It also includes a plan for managing the sellers on a project.
Common templates and procedures include: What a waste of time! Can you imagine ifyou could have access to the brains and experience of everyone in your company? How helpful would it be to have a list of risks from all the recent projects your company or department has completed or is in the midst of?
This is the value of historical records. Such information helps prevent rework on projects and helps ensure that the same mistakes are not made by other project teams. Historical records may include the following information from previous. Lessons learned can help identifY and manage risks on your project. Historical Records from Previous Projects Only a small percentage of project managers have historical records. It follows. It can also provide a sanity check on the project's risk efforts and shorten the time it takes to perform risk management on the project.
Like other historical records. Risk tolerances are reviewed after risks are identified. Risk Tolerance Areas.. The project manager may save time by collecting details on risk tolerance areas and thresholds at the same time that stakeholders and their project requirements are identified.
The word "threshold" means "how much is too much" and can be used to refer to the whole project e. The risk tolerance and thresholds are prioritized on eac.
This information will be used to help determine the impact of risks and the risk responses. See the following chart.: Estimates for time and cost A document that describes the approved C.
Assumptions E 9. A diagram that shows the decomposition of product and project requirements the project into smaller1 more manageable pieces B. Work breakdown structure Risk thresholds X Customer Procurement management plan 2. Communications management plan Definition A. Project background information Project constraints c 8. Project management process Inputs to risk management Project scope statement o Expectations 6.
Network diagram Project charter. Project team L 5. Historical records. Stakeholder register. Organizational process assets Human resource plan Sponsor 4. Lessons learned I Effectively Begin Risk Management. High-level directive from the sponsor customer satisfaction outlining the overall objectives of the project.
Rita Mulcahy- Risk Management | Risk Management | Risk
Anything that limits the team's options. Information'from before the project was 1 approved. Information about individuals and organizations who are actively involved in H.. The individual or group who authorizes the project and provides the financial resources I. Unwilling to accept risk N. Company policies. Things that must be done or information project that must be collected before you can adequately complete risk managel1 ent s.
A formal plan documenting how and in what could execute their projects again form communications will be handled on the project M. Stakeholders' needs or intents that may projects. A formal or informal plan that describes the project or who may affect or be affected what partes of the project will be purchased by the project under contract or purchase order.
Information from past. A formal plan for when and how resources o. Amounts of risk the company and key stakeholders are willing to accept J. Areas in which the company and key stakeholders are willing to accept risk L.
Things that are accepted as true. Effectively Begin Risk Management a 1. Why do you need iterations in project planning? How does knowing the critical path help with determining risks? What inputs do you not understand? How will you refresh your project management knowledge before reading more about risk management? Why do you need a project scope statement. Which of the inputs to risk management do you not have for your real-world projects?
How will you go about getting or creating them? It involves deciding how to proceed. Plan Risk Management In0! The 9! So do not skip risk management planning. With proper planning.
The project manager directs the risk management planning process and may seek input from the sponsor. Project Management Office The project management office. For risk management.. People involved in the project may be more interested in beginning what they consider to be the "real" work of the project.! The Importance of This Process In my research.. If you do. Who Is Involved To effectively perform risk management.
I have found that many project managers have difficulty convincing management and the team of the value of this planning process For example. It may include project team members. It may supply policies and provide assistance with project risk management efforts. Plan RIsk Managemen! Governance Body Organizations that are more evolved in terms of risk management may even have some form of governance body that would be responsible for any or all of the items attributed to the PMO and risk management department in the previous sections.
The risk team solicits and considers everyone's ideas. This department generally performs functions similar to those of the project management office in the management of large projects. Risk Team On a large project. It mentors and coaches project managers on the use of risk management and ensures that risk management is done properly and given the appropriate level of attention throughout all projects in the organization. This group is called the risk team. A I well-chosen risk team is one of the keys to identifYing and addressing risks throughout the project.
Imagine your project at its end. Don't forget to consider the sponsor and the customer. Next to each one. List the risk management activities that will help get you there.
Such a chart with common responsibilities might look like the following: The definitions and the probability and impact matrix help standardize these interpretations and also help compare risks between projects. The value of risk categories will be further discussed in the IdentifY Risks chapter.
Who will do what? Did you realize that non-team members may have roles and responsibilities regarding risk management? The risk management plan may include: This section defines how you will perform risk management for the particular project. Low-priority projects will likely warrant less risk management effort than high-priority projects. Risk management should start as soon as you have the appropriate inputs and should be repeated throughout the life of the project.
What if the stakeholders have a low risk tolerance for cost overruns? That information would be taken into account to rank cost impacts higher than they would if the low tolerance was in another area. Would everyone who rates the probability a "seven" in the Perform Qpalitative Risk Analysis process mean the same thing? A person who is risk averse might think of 7 as very high.
This section talks about when to do risk management for the project. Now you have the beginning of a risk management plan.
This describes any reports related to risk management that will be used and what they will include. Tolerances should not be implied. Remember to adapt to the needs of each project. Do not laugh! They use the same forms. The project should make use of these procedures when planning risk management activities.
Do not allow project and risk management software to be your. Ce tiIlle. See the sample risk m. Risk Management Software Risk management is a people-related process. Specific items to tailor include: All projects are different and needt b.. The best assets for risk management are the ideas and information possessed by people. That value is then compared to other risks in the project to determine the risk ranking for each risk within the project.
Risk ranking within the project: To rank risks. Plan Risk Management I what needs to be done for project management and risk management and use software accordingly! Risk ranking compared to other projects: The total risk score for each project can be compared to the risk score of other projects to rank projects by risk.
Sometimes the total risk score is used. Risk score for the project: To obtain the project risk score. These people could be technical experts. This gives you a numerical value for each risk. There are even consultants who specialize in risk identification. To calculate the risk score. The risk with the highest risk score becomes the highest ranking risk. A risk rating is a number betwe l and lO.
This project is thought to have low complexity. Determine who will be involved in risk management roles and responsibilities. The team is not highly competent with risk management or project management. The project has 5 team members and 15 other identified stakeholders.. Determine how you will track and keep records of risks for use on future projects. Establish the definitions of probability and impact you will use to qualifY and quantifY risks.. The following provides a description of a sample project and an example ofwhat a risk management plan might look like for that project.
Determine the stakeholder tolerances and thresholds to consider in determining which risks to act on. Define how risks will be documented. Define what methodology you will use for the current project to identifY risks. Define which risk categories will be used to identifY risks.
The project is similar to ones done before. Determine how much the risk efforts will cost. The company has no risk management standards.
Determine the timing of the risk efforts throughout the project. Review available risk management procedures. They have created the following risk management plan: Collect risks Three stakeholders. IrQ""" t-: Once completed. They will be brought into a meeting manager individual where they will first be shown relevant information will thought!
Eric marketing. Based on this information. The project is of moderate importance to the organization. Nter completing project planning up to this point. Risk The rest of the stakeholders from different areas Mary 3 hours identification of the company will be broken into three groups project meeting using of four people.
When no this team thought! Lastly an diagram affinity diagram will be used to look for any more risks. Nicole team member. The project manager will conduct the expert interview. Risk Once threats and opportunities have been identified The project 2 hours identification by others. Plan Risk Management II Data quality Each threat and opportunity will be analyzed The team 2 hours assessment and clarified if necessary so that the risks can be will perform effectively assessed.
Definition of A 1 to 10 scale will be used for probability and for The team 0. I Plan Risk Management It is determined that this project does not require the time and effort needed to quantifY the risks.
We will show management the value of the conduct the efforts so far in decreasing threats and increasing meeting with opportunities. Secondary risks will be investigated. The The project 0. The risk response plans will be kept manager will updated for the benefit of future projects.
Attached manager will will be the most current list of top risks and maintain responses. It is expected that some changes will stakeholders be made to the project as a result of these risk reviews if needed will in order to meet the project objectives. Tracking Risk efforts will be monitored. Risk will be included in the monthly project status The project report and will be sent to the stakeholders.
I Plan Risk Management Risk A risk review will be held once a week to review The project 3 hours reviews the top risks and their responses. Reporting The activity reporting formats will include reports on Team 3 hours threats and opportunities. The level.
Tracking 5c Definition A. Amount of resources allocated to be spent V on the project F. Timing L 4. Budget G 3. I Plan Risk Management Instructions: Definitions of probability and impact A 5. Those helping manage the risk management E.
Project management office PMO D 8. Methodology J Determining how risk management will be process done on the project. Reporting formats! A department that supplies policies and projects assistance with project risk management efforts D.
Roles and responsibilities T 2. Risk team " c-. Key UVrd f. How risk will be handled on the project and what data and tools will be used v C.
Risk management plan U A standardized interpretation of the numbering system used to evaluate risks H. How records of risks will be documented for the benefit of the current project and future G. A department that supports project K. How the results of risk management will be documented and communicated L. A plan for how risk management will be done on a project. Plan Risk Management II 1. Why would risk management planning need to be performed a second or third time during a project?
How are projects different with a risk management plan? Why is it not possible to perform the Plan Risk Management process until after other parts of project planning have been completed?
How will you complete risk management planning for your real-world projects? How will you determine risk tolerances on your real-world projects? Risk identification is really playing detective. The inputs to the Identify Risks process include: It takes interaction with people to identify risks. The objectives of the Identify Risks process are to: Some of the other information that could be captured at this time and used later in the risk management process includes the potential risk owner for each risk.
A smart project manager will spend time before risk identification to accumulate as much information as possible about the project and to ask the signer s of the project charter enough questions to minimize the need to ask additional questions later.
Expect questions to arise. See project background data discussed earlier in this book for additional items to collect. Have you had all your questions about the project answered? Many questions about the project and the scope ofwork or requirements will arise as you and your team identifY risks.. These may include. Those people think it is the project manager's job. I am not sure we know enough about what is meant in the project description section ofthe project charter..
Completely defining requirements is a tough challenge and one that many people think they are too busy to do. It may not be possible to have finalized requirements. I can provide a trick. For every change. For every change in this area. Because the customer is not sure of the functionality of the X system. It is the project manager's role t". The difference is even greater on large projects where the project manager may not have day-to-day contact with many of the stakeholders.
Do not make the same mistake. Determining who has insight into risks is also one of the common stumbling blocks for risk management efforts. This includes individuals from any of the stakeholder groups listed in the Inputs to Risk Management chapter.!.
For more on determining requirements. Consider including them on the risk team. All impacted groups should be represented on the risk team.! When they say "yes" which of course they will. Then ask your team and other stakeholders if they would like to avoid those problems on the current project.
Determine Who Has Insight into. E'rocess comes in handy during the risk management process. Can you imagine how many more risks can be identified and how much closer to identifYing all the major risks you will be if you involve the right stakeholders in the IdentifY Risks process? In informal studies conducted during risk management classes. The larger the project. I Identify Risks encourage the finalization of requirements.
When you go to association meetings. To make it better. Try it. All the customers placed orders for the windows. On one project. I strongly encourage the attendees to talk with each other. In this case. Consider whether this could be the case on your project. Of course. So a few competitors became members of the project risk team. That would be a mistake. Why not look for something written about a project comparable to yours?
This will offer you a succinct overview of some of the risks others have faced in similar situations. In one case. You might think others who work on projects that are not similar to yours couldn't help you. If successful. When I teach risk management workshops. As a result of involving those stakeholders.
These items are added for discussion to the list that the risk team sees only toward the end of the IdentifY Risks process This does not mean that lots of meetings are required In informal tests I have conducted in risk management classes Meeting virtually or using e-mail for risk management decreases the quantity and quality of risks identified.
This is a huge difference and one that you cannot afford on your projects! You know this is true.. Your major contribution of risks should be related to business and project integration risks.. You may need to suggest some risks to get the meeting started. You can get a much better understanding when you are able to read body language and see the expressions on people's faces Many teams hold one project planning session where the charter is reviewed.
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Such facts should be addressed in the project management plan through crashing. The following examples describe circumstances that are percent probable ifbasic project management is done on a project.
Clearly define your objectives. One approach is to-treat anything with a probability of greater than 80 percent as a certainty. An opportunity should also not be a fact. Properly Name Risks li I One of the most commonly made risk-identification-related mistakes is to consider things as risks when they are not. With a little further investigation. To answer that question. What Is a Well-Defined Risk? People often ask me what makes a well-defined risk.
Here is one submitted in our risk study. Take a look at the following risk. This is not a risk. As a result ofthe amount of work the customer is trying to accomplish on many projects during this projects completion.
The real risk might be: See the follOwing examples of risks in the "cause-risk-effect" format: As a result oflack ofclear direction for the scope ofworkfor the XYZ component.
I Identify Risks To differentiate risks from facts and to adequately define risks. Do you notice that it does not have much detail?
Such definition of risks provides enough information for the team to follow the rest of the project management process. As a result of definitive cause. Effects could relate to project objectives. Not being co-located is not the root cause of this risk. Though that system is being investigated. Identify Risks II A well-worded risk is specific to the project. The market research department has many products it will be researching Causes could really be threats.
Let's look at the following threat submitted in one" of my risk studies. You should ask. Let's see what it looks like after further analysis. The number of inches apart which may mean that seat. See the following reworded version. Because this contract is a scope could creep which could cause the project time and materials contract.
Notice how much more you understand the potential threat when the cause is detailed? Also notice how ideas for responses to the threat come immediately to mind with such a detailed cause? This is one of the benefits of using the cause-risk-effect format for risks.
Look for the root cause underlying risk to make sure you understand the risk. You should be constantly thinking. You might explain this concept to those identifYing risks to gain their assistance.
You do not know that this situation may cause the whole project to be delayed. Many of the risks identified are not the real risks.
Remember to review all risks before proceeding. We are not able to maintain causing lack of trust with which may -require more a good relationship with customer meetings and. Such as with proper project management. That wording provides more detail and thus more information for risk analysis and response development. It seems that some people who submitted threats tried to blame their problems on everyone but themselves.
The project management plan must be achievable and bought-into before starting work. The project manager should have cut scope. There is no other ethical option for a project manager. We could put it in the cause-risk-effect format and get the following: Due to upper management resources will not be available resulting in not.
Let's look at this one. Does it seem like a well-defined threat to you? This "threat" is really a lack of the project manager doing what he or she should be doing. Identify Risks I specific concern is with meetings and hand-holding efforts. It is hard for people to think of opportunities that may occur.
You can take advantage of an opportunity in the project management plan. I have found that having the team create a separate list of opportunities before threats helps increase the number of opportunities identified and gives people practice looking for the opportunities. The following are examples of opportunities: Because there is a lot of that could also be available for which could help save time on research and development in our project the project this area a competitor may release new technology Because we will be advertising consumers who have not heard which will increase interest in our new products as part of of us before may be introduced our products this project to our company Because this project involves new skills could be acquired which could be sold to others our new products as part of and thus increase company the project revenue Because we will be extensively we may acquire the expertise thus allowing our existing working with a wide variety of to improve our own systems customer service staff to do customer information systems more work in a shorter period on this roject of time Work should be done during planning to make sure the opportunity is investigated and specific plans undertaken to make it more likely.
Revisit opportunities after identifYing threats to try to uncover even more opportunities. Risks Should Be Clarified Imagine someone identifies the following threat: Doesn't this situation need investigation and clarification while still in planning?
Let's look at a few more examples where more detail or clarification is needed before qualitative analysis of the threat: When is this most likely to occur? It is part of planning to investigate further and clarify this opportunity so that specific plans can be made to take advantage of the opportunity.
Due to sole sourcing the supplier may not be which could impact the equipment concerned about delivering on project schedule and cost time A good project manager would ask about the threat above. Has this supplier delayed delivery before to us or anyone else? What leads you to think this is a possibility on this project? You should include risks relating to integration in the IdentifY Risks process.
I Identify Risks Is there something specific behind these general statements? If so. The risk would be mostly eliminated in planning. Here are some examples of integration risks: I suggest spending time on opportunities first as noted previously and then quickly moving through the risk management process to the Plan Risk Responses process.
Great project managers will think through what they are going to do with the risks and make a determination on how to collect them without much rework. Ifyou are in this situation. The more risks.
Groups that are prepared and are led with a plan for risk identification in mind create the longest list and have the best results. Some people treat assumptions as a risk category. Methods of Documenting Risks One of the ways to speed up the risk management process is to have efficient methods. Many risk identification techniques will be described later in this chapter. A group of six people should be able to identifY to risks in one-and"a-halfhours.
Dealing with Team Member Discouragement iii.. Poor project managers will have to do a lot of recopying of risks. There are two main choices for recording risks: Identify Risks II a great project manager will also look at the assumptions to see if they add to the list of risks. Think about how you are going to collect risks. In any case. Sticky notes can be more versatile and useful throughout the IdentifY Risks process. Quantity Is Quality iii. Such discouragement should be a warning sign.
You will not identifY all risks using a form! During my risk management classes. Forms have the following benefits: People will not view risk identification as seriously as they would if other methods are used. In these classes. I Identify Risks Forms Too many people think that risk management involves just sending out a form for people to fill in risks.
Some people are more verbal and require a verbal method to come up with the best list of risks. When people in the first group are asked if they can think of any mare risks. This is a mistake. Let me share with you some secrets about forms so you Can make an informed. Forms have the following disadvantages: I have seen the following actions-people stop when they run out of blank rows to enter risks.
People will come up with a few risks and stop. In my risk management studies. Watch out if you are relying on forms. People usually have little incentive to really think through their ideas about risks. They frequently just provide a few and then get back to their "real" work. Activity B f Informal studies of this issue conducted during my risk management classes show that one-third of those surveyed agreed that a form would not get their best contribution of risks.
Adapt one to your real- world project situation Consider these options. In order to really think. A basic form might look like the following: Overall project risks Risks pef activity Activity A In other instances That is an astounding number! There is an endless variety of forms used to obtain risks.. Identify Risks II Filling out a form is often viewed as boring I Identify Risks Checklists A checklist is a form with more data.
It might look like the following: But watch outonly using a checklist would be a big mistake! Yet many companies think such a checklist is the entire risk management process. Internal Factors Training and training support Project manager experience Facility Policy changes Equipment Note that each of these general categories could result in either threats or opportunities on the project.
It is extremely hard to think beyond what is on the list after one has read through the entire list and filled out the form. Checklists have the following disadvantages: Checklists have the following advantages: Checklists are usually used for all projects in a company or department. Identify Risks I 3.
Why use sticky notes and not just paper? You could use plain paper. Identify Risks Sticky Notes Sticky notes can be used to record risks as they are identified. Sticky notes have the following disadvantages: Many people are not very verbal and will therefore not contribute ideas during a meeting if the only opportunity to do so is to talk.
The RMC Risk Notes format allows you to keep track of necessary risk information as you sort risks during the risk management process. Sticky notes have the following advantages: Remember that you are just identifYing risks now. When it might occur Trigger Potential Risk Owner During the development Whitney I phase Recording the name of the person or source of the risk will allow you to go back to that source if more information is needed during later steps of the risk process.
Identify Risks II The following is an example: Activity Name of source Desif[n the installation system Danielfrom the end-user department Probability Risk Impact Because we will not see component X until delivery from our supplier.
Risks that are identified are less likely to occur simply because they have changed from unknown unknowns to known unknowns. As you work through the risk processes. In other words. Knowing how often the risk may occur the risk frequency and when it may occur will enable you to evaluate the risk during the Perform Qyalitative and Qyantitative Risk Analysis processes.
Methods to Identify Risks Let me offer you another secret. All in all. Methods to identifY risks include the following which will be explained later in this chapter: Just look at any of the projects that have made news lately. They became unhappy with the new seating configuration after the building was renovated. It is now included in risk management standards as a tool of the IdentifY Risks process.
Watch out-identifYing risks by category should not be the primary method CLet's determine what technology-related risks we have on this project. A common error is to forget whole categories of risks. A prompt list of risk categories can be extremely beneficial in risk identification. Why did the project manager not identifY a risk that the new facility would not meet the end users' needs? Can you imagine the impact to the project if a whole category of ri.
With any method of risk identification. This can be used as a starting point to customize a list of risk categories most relevant to projects within your organization. When the group has gone as far as they can. Using such a list has long been a trick recommended by RMC. Was the root cause of them being newsworthy thatthey forgot whole categories of risk? Then the other columns are filled in. A generic list of risk categories includes: End users often identify risks that the core team does not.
It appears that the category of stakeholder satisfaction ofwhich end users are a part was overlooked.. A new threat is identified: The customer's competition which could cause new use of which could result in depletion on this project is more existing technology that we of resource time to create a scientifically advanced than have little experience with to change order and learn the the customer be requested by the customer skills Then try to put the category into the risk column and see if that helps you identifY more threats and opportunities.
The concept is to uncover more risks by forcing the risk team to look at risks from different perspectives. Be careful how you use the list of categories and the risk list. Risk Breakdown Structure If your project is large enough to have many categories and subcategories of risks.
As in the other risk identification techniques. Not you! Appendix 2 of this book contains over 80 pages of risk categories and lists of risks for many types ofprojects submitted by project managers from around the world.
Present a list of risk categories to the risk team only after a substantial number of risks and risk categories have been identified. Review the List of Risks Identified in This Book What if you had a list of all the risks and risk categories your company had previously faced on similar projects?
How valuable would that be? Most project managers and companies do not have such lists. Ifyou use the risk list after individual thought. Identify Risks II A new threat is identified: This project is so unique that which may cause everyone to leading to the customer's we might be asked to write learn about the project competition announcing about it in trade magazines a new product of its own.
While writing the PMP Question Bank, I have made sure that no processes are left behind, and avoid duplicating questions so that you can learn a new concept with every new question.
Buy from Amazon Kindle Book. I have seen many people struggling with solving mathematical questions, which constitutes a significant part of the PMP exam. If you are not comfortable with mathematical questions and are unable to decode their results analytically, you are not well prepared to take the exam. Therefore, I have written a short guide on PMP exam formulas to explain the mathematical concepts to you and decode their results analytically.
I have taken the utmost care to select the simplest examples to explain these formulas so that you can understand them easily and apply the concepts in the exam. I assure you that once you complete reading this guide, you will be in a much better position to solve mathematical questions in your exam. In this eBook, all questions are explained with every possible detail, and a practice question is given to test your understanding.
This book is a step ahead of its sister book for PMP exam preparation in storytelling; it is more like a novel than an exam preparation guide.
Rita Mulcahy- Risk Management
This book explains risk management concepts very well, and it is written in a simple, easy to understand language. Although, this book explains the risk management concepts well, it does not cover the mathematical part very well, and there are not many practice questions.
One thing I like about this book is that it is very focused on the exam content. It covers the whole syllabus, and walks you through all processes.
This book emphasizes practicing ITTO so that you never miss questions based on it. Moreover, this book has a full length mock test at the end to test your knowledge. The only drawback of this book is that it has some typos and error in the answers to the practice questions hopefully these errors will have been corrected in the latest edition of the book. Overall this is a good book; it covers all points very precisely, and it is a good choice to go with it.
I wrote this eBook upon receiving several requests from my visitors. Developing this eBook took more time than any of my previous books because here the syllabus is short and I wanted every question to be unique. Although in the real exam you are going to see some repeated questions, in this question bank I tried to avoid similar types of questions.
Earned value management EVM is an important concept in project management, and to complete the project successfully you should have a better understanding of this concept.
Therefore, I have written this eBook to help you understand this concept. This eBook explains all earned value management formulas mentioned in the 6th edition of the PMBOK Guide with simple examples so you can understand the formulas.
This eBook is suitable for professionals who want to understand earned value management and are preparing for the PMP exam. This eBook has more than 75 examples and practice questions. All questions are explained with every possible detail. I strongly believe that once you finish reading this eBook, you will be able to understand the formulas, your confidence level will be elevated, and you will not face problems in selecting the correct formula based on the situation.
These were my short reviews on PMP exam reference books. Okay, here are the books and my short reviews. Head First PMP.
I got this book at the beginning of my 35 contact hours training program. This book teaches you everything required to pass the PMP exam. I am sure that you will love this amazing book. Kim Heldman. Rita Mulcahy. This is a good book to study for PMP certification exam preparation.
Andy Crowe. This is another famous book for PMP exam preparation. However, if you want to study with a printed book, here is the Amazon link for your reference.