PMP exam prep - PMP certification- PMP training videos-Terms and Concepts (2024)-Video 4

What is PMP exam prep? What are the terms and terminology we will use the most in our PMP certification preparation based on PMP 6th edition?

This series of PMP 6th edition training videos will cover all about the foundational terms and concepts of PMP certification. Whatever terms we used the most, will be discussed in this PMP 6th edition training video. As always, we will follow a step by step process:

PMP exam prep: Step 1: Most basic PMP certification terms based on PMP 6th edition

1. Till now, you might have heard me saying 49 processes. What do I mean by the word “processes”. In this video we will cover about that. Some of the other common terminologies we used in our PMP exam prep is project, OPM, Kill point or exit gate, progressive elaboration, project management, baseline, lessons learned and work authorization system,

PMP 6th edition training videos: Step 2: Difference between projects, programs, portfolios and operation.

2. Then another PMP exam important topic is the difference between projects, program portfolio, and operation. Always remember, project is something which always have a definite end date and the output from the project is unique. Program on the other hand is a combination of similar projects and operation is something which is done on an ongoing basis.

PMP training videos: Step 3: work performance data, information and reports.

3. Trust me! In Project management professional certification, you will see these terms work performance data, information and reports a lot. Work performance data is the raw observation on your project. Work performance Information is one step ahead of the work performance data where you get some more substantial information. When you display work performance information in report format then it becomes work performance report.

PMP exam prep 6th edition: Step 4: Development life cycles

4. One of the most important topic from your PMP exam is covered in this PMP 6th edition training videos. These are the develop life cycles like Predictive, Iterative, Incremental, Adaptive and Hybrid. Predictive is our basic waterfall method. Lot of people get confused between iterative and incremental.

Basically both iterative and incremental run hand in hand. For instance: You don’t know what all features you will need in your project and you will only come to know when your product is developed in small intervals/packages. In each iteration you will add new functionality in the form of increments.

You want to make a website:
Iteration 1: You develop a login page [User name and password]
Iteration 2: You add forgot password functionality. You enhance iteration 1
Iteration 3: You send out an confirmation email to user after registering: You enhance iteration 2

So what you are doing: In each iteration: You are adding new and new increments and the final iteration will give you full working functionality.

PMP certification training videos: Step 5: Triple constraint triangle

5. Whenever there is change, you will always refer to the triple constraint triangle of scope, schedule and cost. A change on any one leg of the triple constraint triangle will affect at least one of the other two legs.

Project management tutorial: Step 6: Business case and Benefits management plan

6. Whenever we start working on the project, the first question to be asked is: “Why you are doing a project” This information comes from the business case. Similarly what are the benefits of doing this project, this will come from benefits management plan.

PMP 6th edition: Step 7: , Project triggers

7. PMBOK 6th edition aka project management body of knowledge has laid out the different reasons of why you start working on a project. This PMP training video will cover that.

Last and final step is to move to next video on PMP certification process framework which is very beneficial for the PMP exam prep.

Now in this PMP 6th edition training video, you have learned the foundational terms and concepts about PMP certification, I challenge you in which I want you to take these steps and implement them, and then after you implement them, in the next 30 days I want you to leave a comment with your results. Because if you are not doing well, that means I am not doing something right and if I am not doing something right then I am not happy.

3. Final step is to leave everything on me and just get ready to do the hardwork.

#PMP #eduhubspot

[onlinesalehere]

Thanks a lot for your videos. Really it is very nice. It is helping me a lot...

[lumierelibre]

Thank you for this video. A nice summary.

[martinaogenyi]

Thanks Varun for your uploaded videos. I cleared my PMP today.

[sudarshanvetcha]

very nicely explained. great video for pmp intro,

[induu]

Thank you sir. Nice and easy understanding great teacher

[bhattisa]

Thanks for making such informative videos.

[vinayn]

Thanks Varun for such wonderful videos 👌👌 I cleared my PMP cert today.. Your videos have been a great help..!!

[vamsikrishna-okfm]

Anand Explanation and Examples are pretty Good. Great Job

[kasturidasgupta]

Such a helpful video.A detailed but easily understandable. Thanks

[Praveen.Kumar]

Hi, First I want to mention that I have never ever commented/liked any video anywhere, was going through your videos as I have my PMP exam scheduled for tomorrow (Aug 8, 20), since I am from Operations I wanted to share that its not that we do the same thing over and over again (you mentioned it at 5:46), in operations (depends on the lead) we always want to fix any issue which is repetitive so that it does not occur again.

[thenkprajapati]

Hi Varun,

You did not mention anything about Project charter document in this video.
Also you gave the priority like NPV > IRR > PB. What about other benefit measurement methods.?What is their priority?

[azfaraltaf]

Dear Anand.videos looks great.please explain project life cylcle and phases of the project.I am confused to understand the concept although i can define.

[jeffberenholtz]

Varun, I am still a bit confused on exact differences between iterative, incremental, and adaptive life cycles. Could please help draw out some more obvious, transparent differences on how to properly identify each one?

[anilthakkar]

Varun, FYI, I googled the below on Work Authorization System: Do you agree with the answer? Can the difference between a charter and the WAS could be confusing in the exam? Thanks.




Yet another way to control a project is
through a work authorization system (I find it unusual that this term didn't
get a three-letter acronym). The PMBOK defines a work authorization system as
"a collection of formal documented procedures that defines how project
work will be authorized to ensure the work is done by the identified
organization, at the right time, and in the proper sequence." This is most
often a written authorization to begin a specific activity or work package that
is part of the project plan.




PMBOK suggests that determining whether to use
a formal work authorization system is a question of balancing cost against use.
If putting a formal system in place will take too long or will actually be a
cost that the project must support, there certainly will be times when verbal
authorization will be used. Verbal authorization is used most often in smaller
projects where a formal work authorization system may be too costly or complex
to install.




The work authorization system can easily be
confused with other procedures and systems. The question will be phrased
something like this:




A formal procedure for sanctioning project
work is a:





A.   Charter B. Scope Statement C. Statement of Work D. Work authorization




The answer is D. Notice that the key words are
"formal procedure." The document that allocates work is actually the
Charter. But the procedure is called a work authorization system. This is a
case of memorizing the definition. You will see it on the test.

[mintvivek]

Can you explain work performance data, information and reports in terms of process groups? I mean, can we say that work performance data and information are related to "Executing" process group and work performance reports is related "Monitoring & Controlling" process group. I was just giving the example.

[audreyyates]

12:08 kill points OR exit gates OR phase review OR state gate OR phase entrance OR phase exit... Are these expressions the same? Do some people call it one thing, and some another thing? Do they have different meanings?

[arindamdhar]

Hi Varun, Please advise if this topic is related to any particular chapter so is all from Glossary section in PMBOK

[monamughees]

I am still confused about the difference between the incremental and iterative life cycle mainly but adaptive too. Is there anyway that all the development life cycles can be compared and differentiated on a table against say scope defined at early or while execution and also the time to finish and any other criteria that can give the cycles in a snapshot?

[bobbyxmail]

Hi varund, i have questions again, what the different between iterative life cycle and adaptive life cycle, as your explanation the iterative life cycle is "scope determined in the early phases", the adaptive life cycle is "scope is well defined before iteration" so what the differential?

[audreyyates]

25:04, for your example, steps 1-3 for the login page, is step 1 really an example of the incremental life cycle, step 2, the adaptive life cycle, and 3 a hybrid life cycle? Or are they 3 steps to one of the three types of life cycles?