PMP Prep 13 July - 5 August (Tim)

Discussion in 'PMP' started by tim jerome, Jul 13, 2020.

  1. tim jerome

    tim jerome Well-Known Member
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    This is the thread for Tim Jerome's weekday class from July 13th through the 5th of August. Feel free to ask questions, debate and clarify as we all progress toward readiness for the exam.
     
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  2. Kanthimathy L R

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    Hi Thanks for the Link
     
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  3. Pankti Patel

    Pankti Patel Member

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    Thank you tim
     
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  4. Sanjeevreddy_1

    Sanjeevreddy_1 New Member

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    HI..Do i need to complete PMBOK guide like a course to face PMP EXAM?
     
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  5. _80498

    _80498 New Member

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    Thanks Tim
     
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  6. Ravinder Pal Singh Gyani

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  7. Rahul Kumar_104

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    After the fee payment at PMI we get 3 attempts in a year for clearing the exam. If one is unable to clear the exam in first attempt will one have to pay again for the second attempt?
     
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  8. Naveen S.

    Naveen S. Member

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    Hi every one , i am naveen S. from India , i am working as product design engg. last 10 year .
     
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  9. Sonam Verma

    Sonam Verma Member

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    Hello Tim and everyone,

    Regarding the code of ethics - It is always great to learn what's right and ethical. However, considering Tim's today's example of a person being fired for raising an alarm against the wrong, what should one do when it is all about the power of employer. One loses a job and in a lot of such cases one's career is almost destroyed. How much ethical can one be in a system like that?
     
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  10. Cheng Chang Zhang

    Cheng Chang Zhang New Member

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    Hi Tim, thanks for your wonderful lectures. Unfortunately I missed first half session yesterday due to my laptop issue. I am wondering if I can make a application to PMP exam at this moment or need to wait till this training course completed and get 35 PDUS from Simplilearn? Thanks.
     
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  11. tim jerome

    tim jerome Well-Known Member
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    The application can occur in parallel as you go through the preparation - including the live classes. The only sequence that you must obey is that you need the certificate to submit your application. There is information on the certificate required, and the contact hours must not be post-dated - you cannot say "I will have finished training next week", for example.
     
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  12. SAURABH PANDEY_12

    SAURABH PANDEY_12 New Member

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    Hi Tim, It would be a great help if you could help to share the google drive location where you are putting all the notes. The one link which I have is from 13th July which has only data from 13th July session.
     
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  13. Sonam Verma

    Sonam Verma Member

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    Tim, Thank you for showing huge amount of PATIENCE.

    I'm a bit confused - as we are referring to PMBOK (also, as in apart from self learning "ebooks") in our classes, do you suggest that all of us should become the PMI member and download free PMBOK from PMI website or is references to PMBOK is limited to the class and will not be required for our after class exercises?
     
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  14. Sonam Verma

    Sonam Verma Member

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    Hi Rahul, As far as I have researched one has to pay reexamination fee for both 2nd and 3rd attempt. I found more details in the handbook link Tim had provided. You can check it here: https://www.pmi.org/-/media/pmi/doc.../project-management-professional-handbook.pdf

    I hope this is helpful. Cheers!
     
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  15. Sonam Verma

    Sonam Verma Member

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    Hello Tim,

    Could you also let me (or us) know how does social media promotion helps one with the PMP certification and how do we begin?

    Thanks for all your help.
     
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  16. Rahul Kumar_104

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    Thank You Sonam for the response, it was helpful. The link was useful. Hope we could connect and encourage each other in this journey.
     
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  17. Naveen S.

    Naveen S. Member

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  18. Naveen S.

    Naveen S. Member

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  19. Thushitha kruthi

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  20. Thushitha kruthi

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    Anyone completed the project?
     
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  21. Bala Nagesh Srinivasan_1

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    Hello Tim,

    Hope you are doing good. I was learning with the session downloads of your live classes. For the last day, I could not get the updated notes and the ONE NOTE.

    Request you to share the updated notes and ONE NOTE file.
     
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  22. tim jerome

    tim jerome Well-Known Member
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    I see the documents online. If you have issue, feel free to reach out again. These are the updated notes.
     
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  23. Ritu Bhatnagar

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    Hi Tim, Thanks for the online class. Can you please confirm what all is included in Procurement documents? Does it include Independent cost estimates? Thanks.
     
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  24. Ankit Jain_18

    Ankit Jain_18 Member

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    Hi @tim jerome ,

    Please help in the below question:

    Careful planning during Plan Risk Management enhances the probability of success for the ____ other Risk Management processes.

    a. six
    b. five
    c. four
    d. seven

    Correct answer is five. Why not six, please?

    Thanks,
    Ankit
     
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  25. Ritu Bhatnagar

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    Tim, I have a question on Test # 4 - Q 79
    Shouldn't the correct answer be D? One of the Control Quality tools is Ishikawa diagram. Please confirm.

    Chris is the Project Manager of a new software development project. He finds a major issue with the project requirement management process, and can find a trend of requirement-related defects. He is using an Ishikawa diagram to come up with the root cause of the trend and to make recommendations to avoid problems in the future. What process is he implementing?
    SELECT THE CORRECT ANSWER

    A. Plan Quality Management
    B. Identify Risks
    C. Manage Quality
    D. Control Quality
    Correct Option:C

    EXPLANATION

    Cause and effect diagram or Ishikawa diagram is one of the tools used in the manage quality process.
     
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  26. Ritu Bhatnagar

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    Hi Ankit, I believe the answer is 5 because there are 5 risk planning processes under Planning process group.
     
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  27. Pernita Phuloria

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    Hi Tim,

    I am still confused with a) as being Correct.for below question.

    Two months into a design project, the customer requested a modification to the product
    specifications. The change was immediately implemented by the project team without
    notifying the project manager. During the final testing phase, results were different from what
    was planned. This scenario is an example of:

    a) Poor adherence to the change control process
    b) Poor adherence to the communication plan

    If I read the question, the context mentions----modifications done immediately (indicates CR process not followed) without notifying PM (indicates poor communication)and results being different from what was planned (indicates poor communication as requirement was not fully understood))

    Please help with this.
     
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  28. Ritu Bhatnagar

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    Hi Tim, I have a question on Test #2 - Q28

    A project manager is in the process of developing a detailed description of a project by identifying project deliverables and work required to create those deliverables. Which of the following will NOT be an input to this process?

    SELECT THE CORRECT ANSWER

    A. Enterprise environmental factors
    B. Project charter
    C. Requirements documentation
    D. Organizational process assets

    Correct Answer: C

    Per Simplilearn Explaination below:

    The project manager is in the process of defining scope and all the above are inputs to the process except requirements documentation. For more information, refer to Project Scope Management, page 150, PMBOK® Guide Sixth Edition.

    **************HOWEVER, According to PMBOK guide, Page 150 - Requirements documentation is an input to Define Scope. So, the answer should NOT be C *****************
    CAN YOU PLEASE CONFIRM. THANKS!
     
    #28
  29. Christopher Wolters

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    Ritu, I don’t see an answer to your question. I am interested in the answer. Did you receive one.
     
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  30. Andy Venn

    Andy Venn Member

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    Hi Tim, I joined your last two classes for this batch and enjoyed your teachings. I was wondering how I can get your teachers note and all other materials you shared with the class. Pls help me with the links.
     
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  31. Ankit Jain_18

    Ankit Jain_18 Member

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    Thanks Ritu. I got confused because they are asking for "_____Other Risk Management processes" in the question. So from your perspective then why the answer is not 4 as there are 4 process in planning other than Plan Risk Management process.

    In fact, Plan risk management should enhance the success of all process of Execution and M&C as well. So Answer could also be 6.
     
    #31
  32. Ankit Jain_18

    Ankit Jain_18 Member

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    Agree here. Actually, all the options are input to Define Scope process and are bad answers. we have to choose the less worse option. :)
    One way of seeing it could be that the other 3 options are more important/impactful inputs than Requirements Documentation. @tim jerome , can confirm this please.
    Also, C would be the answer if the process is "Collect Requirements" but it looks like the process is Define Scope.
     
    #32
    Last edited: Aug 25, 2020
  33. AKBAR SABIR KALANCHIRA

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    Hi Tim, I have a question Q-20 Based on the information provided below, which project would you recommend for being pursued?

    Project I, with BCR (Benefit-Cost ratio) of 1:1.6;
    Project II, with NPV of US $ 500,000;
    Project III, with IRR (Internal rate of return) of 15%
    Project IV, with opportunity cost of US $ 500,000.

    A
    Can not say from the data provided
    B Project I
    C Project III
    D Either Project II or IV

    Expecting your answer with an explanation.....
     
    #33
  34. Kishore Ganore

    Kishore Ganore Active Member

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    Hi Ritu,

    As per the question, the major issue is with project requirement management process. Manage Quality is sometimes referred as Quality Assurance. The focus is on the processes used in the project, quality assurance is also concerned with product design aspects and process improvements. We are auditing the process (quality assurance), we ensure we are following the process and procedures, and every time we do the process we get the same result. Quality assurance looks at the process and all the items going through the process. where as Control quality is inspection where we inspect the deliverable and data if they meet the specifications provided by the stakeholder for final acceptance. Quality Assurance is process oriented and Quality control is deliverable oriented.
     
    #34
  35. PRAVEEN KUMAR_94

    PRAVEEN KUMAR_94 New Member

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    hey guys can anyone share me the links which was shared during the final session that is on 05 August 2020,which includes Tim Teacher notes too. I lost my data please help me.
     
    #35
  36. Prema.M

    Prema.M Well-Known Member
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    Hi Praveen,

    All the required reference links ,notes are shared within the sessions in the "Chat Window ",kindly refer to the session
    recordings.

    Regards,
    Prema M
     
    #36
  37. Ritu Bhatnagar

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    No, I have not received any answer to this question.
     
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  38. AKBAR SABIR KALANCHIRA

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    I have not received any reply to this question, what should I do to get the proper support from the Simplilearn community?
     
    #38
  39. AKBAR SABIR KALANCHIRA

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    It's ridiculous, I am also facing the same situation...
     
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  40. Support Simplilearn(4685)

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    Hi Learner,

    It is always good to read the PMBOK guide, This will improve your knowledge.
     
    #40
  41. Support Simplilearn(4685)

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    Hi Learner,

    All the required reference links ,notes are shared within the sessions in the "Chat Window ",kindly refer to the session
    recordings.
     
    #41
  42. tim jerome

    tim jerome Well-Known Member
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    I apologize. I am now getting caught up in other work, and can take a bit of time to respond.

    As I say in many of my classes, Slow, down, focus - think it through. Patience.

    A says Benefits are less than costs. Let's remove that.

    B says Benefits are greater than costs. That's a good option.

    C says growth to break-even (zero profitability, but no debt) is 15%

    D says "We are missing out on a $500k opportunity."

    Based on this analysis which is the option that shows greatest potential?
     
    #42
  43. Ankit Jain_18

    Ankit Jain_18 Member

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    Hi Tim,
    Hope you are doing well!

    I have a question on which I need your help on, please.

    Test 6. Q139
    In a negotiated cost plus incentive fee (SPIF) contract, the following figures were finalized: a target cost of $355,000, a target fee of $45,000, and a sharing ratio of 75/25. If the actual cost of the project is $390,000, what will be the final fee to the seller?

    A. 36250
    B. 8750
    C. 35000
    D. 45000

    Correct Option:B

    EXPLANATION

    As the cost of the project is lower than expected, the seller will receive their $45,000 fee plus $25% of the savings between $355,000 and $325,000 ($25,000 x 25% = $7,500). $45,000 + $7,500 = $52,500.

    My Understanding :
    I think the answer should be A. The Final Fee should be 45000 - 8750. = 36250

    Also, as per the formula, Saving = Estimated Cost-Actual cost = -35,000

    Final Fee= (Saving * Seller Ratio) + Predetermined fee = (-35000 * .25) + 45000 = 45000 - 8750 = 36250.
     
    #43
  44. Rajat_Kumar

    Rajat_Kumar Well-Known Member
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    The fac
    The faculty is working and will update, Kindly bear with us. @tim jerome.
     
    #44
  45. Mohammed Shumail Hassan

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    Hi Tim,

    Hope you are doing well.

    I have cleared my exam. I would like to thank you for your effort and sharing your knowledge which really helped me to crack PMP exam.

    I really appreciate it.
     
    #45
  46. tim jerome

    tim jerome Well-Known Member
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    I have to agree; FINAL fee means total fee, based on target fee and any adjustments.
     
    #46
  47. tim jerome

    tim jerome Well-Known Member
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    Thank you. You earned the rewards, through your efforts.
     
    #47
  48. Ankit Jain_18

    Ankit Jain_18 Member

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    Thank you Tim for your confirmation.
     
    #48
  49. Ankit Jain_18

    Ankit Jain_18 Member

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    Hi Tim,

    I passed my PMP exam today with 4 AT/1T. I would like to thank you for your guidance. Your classes made the concepts really easy to comprehend. Appreciate it

    Thank you.
     
    #49
  50. Support Simplilearn(4685)

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    Congratulations :)
     
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