PMP Certification Cost: PMP aspirants often ask me - What's the easiest, fastest and cheapest way to achieve PMP Certification? My response is - pick any two. Easiest, fastest and cheapest are analogous to the triple constraints in Project Management - Scope, Time and Cost. You cannot have all three. You have to compromise on at least one of the factors (Effort, Time, Cost). For example, you can opt for an expensive exam prep workshop that can make it easy and fast for you. Alternatively, go for an online self-paced program, complemented by free sample exams and free tools on the web. That will be an economical option, but not as easy or fast as the previous option.
I added a fourth constraint - risk, and modified the question to:
What's the easiest, fastest, cheapest and safest way to achieve PMP Certification?
Rita Mulcahy, the author of the best-selling PMP Exam Prep book, has released her new PMP Exam Prep Online, 6th Edition program. The program is an all-in-one PMP Exam Prep course that includes multimedia tutorials, online versions of her famous PMP Exam Prep Book, PM Fastrack Exam Simulator Software and Hot Topics Flashcards. It also gives you the 35 Contact Hours, which are a pre-requisite for the PMP Exam.
The course is divided into 16 lessons. The lessons are full of really informative video and audio clips of Rita Mulcahy, a lot of interactive exercises and games, and a pre- and post-test. At the end of each lesson, you get access to the PDF version of the corresponding chapter from Rita's PMP Exam Prep book, and the multimedia flashcards. The program also includes access to 1500+ question exam simulator.
I was one of the beta testers for the program in Apr-May'09 and spent nearly 40 hours reviewing it. Read my full review to find out the details.
Critical Path Method (CPM) questions, specially those involving Network Diagrams, are among the trickiest questions on the PMP Exam. Fortunately, if you understand the concepts, the questions are not so difficult and offer a good scoring opportunity on the exam. But coming to the preparation, as with any other exam, we always aim a notch or two higher than what is required for the exam. As the saying goes, "Prepare for the worst, hope for the best" :)
Today I'm going to challenge you with a slightly unusual Network Diagram problem. Most PMP exam prep materials I have seen use Finish-to-Start relationships on the Network Diagram. In this article, you are going to see a Network Diagram with a Finish-to-Finish relationship. What? Yes, that's right, Finish-to-Finish. So, bring your pen and paper and get ready to solve this problem.
Note: In all likelihood, this problem is beyond the scope of the PMP exam. But if you are an adventurous type, go ahead and take the plunge. We'll have fun.
If you have read my article 10 Benefits of PMI Membership, you know that as a PMI member, you can sign up for the membership of PMI component chapters. These component chapters provide an excellent opportunity to meet face-to-face and network with professionals in your area or region, and hone your project management skills. While these component chapters provide a good value for money, there are a few things that PMI won't tell you, but you need to be aware of when signing up for the membership. The terms and conditions of membership are probably not as transparent as you would expect. This article covers the good as well as the not-so-good aspects of these component chapters that you should be aware of while signing up for the membership.
Point of Total Assumption (Part 5): In past, we have looked at the concept of Point of Total Assumption in a Fixed Price Incentive Fee (FPIF) contracts, in great detail. In this article, we'll look at some examples related to Seller Fee (profit and loss) calculations. For a quick recap of terms such as Target Cost, Target Fee, Target Price etc., review the article Point of Total Assumption - Formula.
In the worksheet shown below, the Target Cost, Seller Fee, Target Price, Ceiling Price and Share Ratio have been kept constant. We start with a simple case with no cost overrun, i.e. Actual Cost is exactly the same as Target Cost. In this case, Seller gets the full fee. As cost overrun increases, it starts eating into Seller's Fee. At a particular point, the Seller Fee drops to zero (no profit or loss). Further cost increase beyond this point, leads to net loss for the Seller. Here's the worksheet with all the calculations.
PMP Exam Passing Score (Part 2): Is 61% still the passing score for PMP exam? I'm a huge fan of the popular science television series, MythBusters, and today I'm going to play the MythBuster and take on 5 popular myths about PMP exam passing score. This is part 2 of the series on PMP exam passing score. I suggest you read the first part - PMP Exam Passing Score - Not a Number Game anymore, before proceeding further.