Knowing the PMI terms and how to use them can be very beneficial. I have been in meetings with management where engineers were trying to explain technical benefits of product changes to management and really not making much head way. I was able to “translate” those technical requirements into schedule and cost variances, and talk about the risk associated with the changes. Management understood immediately, and put the changes on top priority for authorization.
Don’t sit for the exam until you have prepared for the formulas that will be there. There are about 49 formulas you should be familiar with. There will only be about 9 questions on the exam that deal with the formulas, but that is still 9 out of 200, a little less than 5%. It could take you over the top if you are close in the other areas.
Don’t go to take the exam until you know the project management process very well. The PMBOK guide presents many processes contained within 9 knowledge areas and five process groups. You need to know how those processes fit together. You really need to know what processes have to be completed before moving onto the next set, and which ones are iterative, so that your estimates become more precise through progressive elaboration. Knowing what comes before what can help you determine through analysis and elimination the wrong answers presented to you. Knowing what process you are in for each question and what process will be next could be the most important thing to know as you get ready for the PMP exam.
Elroy King
If you have any project management questions, or questions about the PMP exam, leave them in a comment, and I will try to answer them.
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