The Methods for Memorizing the PMP Exam

Recently, I have been free to organize my experience to sort out several knowledge points of preparing for the PMP exam.

#The Cost Variance and the Schedule Variance The Cost Variance and the Schedule Variance

Cost Variance: Integrity => The cost is blow the planned.

Schedule Variance: Integrity => It can be achieved ahead of the planned schedule.

Memory: “Just Right” (Anything positive is the good news. Remembering this word is never wrong.)

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#The Cost Performance Index and the Schedule The Cost Performance Index and the Schedule

Performance Index

Cost Performance Index is larger than 1.0 => The cost is blow the planned.

Schedule Performance Index is larger than 1.0 => It can be achieved ahead of the planned schedule.

Situational memory: You can regard 1 as 100%. Generally speaking, leaders prefer the number over 100% for the index. But there is a special index which is called as the to complete Performance Index. It is just the opposite (the first two indexes are completed, while the To complete Performance Index is in the future).

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#Incentive contracts (Cost Incentive Contracts and Fixed Sum Incentive Contracts) Incentive contracts (Cost Incentive Contracts and Fixed Sum Incentive Contracts)

Involved in the calculation, there is a split, such as incentives is the 3/7 points. And whether 30 percent is the buyer or the seller is easy to mix.

Memory method: “Sale” (a contract is a sale, so there is the buying process before the selling process.)

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#The Sunk Cost and the Opportunity Cost The Sunk Cost and the Opportunity Cost

Sunk costs: The cost of a decision that has occurred in the past.

Opportunity cost: The cost of choosing one decision over another.

Memory method: “The past will sink, and the chance is for someone who have a choice.”

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#The Commonness of the Project Integration Management The Commonness of the Project Integration Management

Project integration management includes making project charter, making project management plan, guiding and managing project work, managing project knowledge, monitoring project work, implementing overall change control, and ending project or phase

Memory method one: All the above sub-processes of project integration management are the beginning of the five process groups of initiation, planning, execution, supervision and closure (initiation process group is the beginning of the project charter, and planning is the development of management plan and so on.)

Memory method 2: The tools and techniques for all subprocedures of project integration management include expert judgment.

Memory method 3: Inputs to all subprocedures of project integration management contain business context and organizational process assets, without the business context except for the last ending project or phase (because the project is closed, business context is not considered).

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#Requirements Gathering Tools Guided Seminars and Focus Groups Are Confused Requirements Gathering Tools Guided Seminars and Focus Groups Are Confused

Both of them are moderator-controlled, and the guided seminars are for cross-functional participation.

Memory method: “Cross-functional participation needs guidance” (because cross-functional participation needs guidance, otherwise there will be too many departments and confusion.)

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#Confusion between Emergency Reserves and Management Reserves Confusion between Emergency Reserves and Management Reserves

Emergency reserves are for the known and unknown risks.

Managing reserves are against the unknown risks (not recorded in the risk register).

By extension, the management reserve is in the hands of senior management, because the project manager is expected to identify as many risks as possible when setting the budget, and to have enough contingency reserves.

Memory method: “The management reserve is in the hands of the management” (combining the situation to figure out which reserve should be used for the occurrence of a risk in the title)

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#Theory X and Theory Y Are Easy to Mix Theory X and Theory Y Are Easy to Mix

Theory X: Human beings are inherently evil.

Theory Y: Human beings are inherently good.

Memory: X in Theory X is a cross (X stands for the meaning of the “wrong”).

1. For the Start of a Project, Does It Belong to the Social Need or the Customer Requirement?
   Memory method: Try not to enlarge the title, even if a community building a powerstation is also the customer requirement.
2. Time-and-material Contracts and Fixed Price
   Memory method: Time is very urgent to use materials. Order contract is a fixed price.
3. What to Do after the Changing Approval?
   Memory method: Update the project management plan
4. The implementation of procurement starts at the time of the bidding meeting, rather than the contract negotiation.
5. The Standard and Mature Stage of the Team Are not Clear
   

Memory method: Keyword of the standard => Work Habits, Trust

Keyword of the mature => Interdependent, Efficient

At present I only write these tips first and I will update it again when I have time. If you are interested, you can see the articles written before.