Do you know that passing PMP exam does not
mean to solve thousands of PMP exam questions? That is right, You heard it right. Before
I start explaining these questions to you, I want to tell you a story. I think one or
two years back, a student reached out to me and asked me, Varun, I heard that there is
some website ABCXYZ.com, I do not remember the name. They are giving a dump of some thousand
PMP exam questions and they are saying that if you study these dump, then you will definitely
pass. His colleague actually reached out to him and he was practicing through that channel.
So guess what happened to that Mr. Colleague? Of course, he failed the exam. There is no
such story that these exam questions would come from X source or Y source or Z source,
I am telling you right away. So if your expectation is that from this video the PMP exam questions
will come then you can close this video right away. However if you want to understand that
how I am dealing with questions, how I'm using elimination technique to come up with the
PMP exam questions, how I am approaching to the questions, then this video is right for
you. Okay before we move into the next stage Who am I?
My name is Varun Anand and I am the founder of Eduhubspot training company, which deals
with PMP and CAPM certification exam. Before I start explaining this question to you, I
have one request to you and it is that I want to make sure that whenever I read a question
to you, please pause the video after I read the question and in the comments section of
YouTube, please write the question number and the answer what you are looking into it.
What do I mean by that? Let us say this is question one, whenever I read this question
to you, just pause that video right away and write. Question One answer is let's say C,
I have not read the question yet. Let's say you set answer to C. Now don't just say answer
A B C D. I really don't care about it, what I care about is giving me the reasoning that
why you think C is correct or why you think B is correct. In this way I want this video
to be as much interactive as possible. When you give me the reasoning that for question
one C is correct and this is my reasoning for it. Then I would be able to reply to that
comment and say that OK yes Mr. or Miss, this looks good and your reasoning is correct.
We do not want to come to correct answer, we want to see an approach that why you are
selecting a particular answer. This video is all about concept.
Ok so let us go right into this question. You are a project manager and you have received
a meeting invite from your senior manager. The title of the meeting is Kill point meeting.
What is the purpose of this meeting? OK Kill point meeting, there are a couple
of names for Kill point. It is also name as phase entrance, and then there is phase exit,
I think that is another name like stage gate, and there are a couple of more, You can actually
refer to PMBOK for that. Let's see what is the purpose of Kill point meeting. In this
meeting. A) The project manager and senior manager will kill the project. Yes, you can
actually kill the project in a kill point meeting but is this really the only purpose
of Kill point meeting. I don't think so. So A is out. See, how I'm approaching to a question,
I really want you to make sure that when you're practicing questions, you are attempting to
the question in a similar manner. This is known as elimination technique, so whenever
you practice, write down these answer option for each question like Question 1. A B C D,
then see Okay what I think that A is not correct. So eliminate that. B, I think maybe is correct
,C is definitely not correct so C is out. So the B and D. I think B is the better option.
This is how you have to approach to a question. This PMP question video is all about approaching
a question. Okay let us go to Option B, In this meeting all the team members would sit
in one room, kill the project. Okay first in kill point meeting It's not necessarily
that all the team members would be there, definitely they would be someone from senior
management and of course project manager would be there, but it's not necessary that all
the team members. So this statement that it says all the team members, this means that
is not a correct statement, so B is out as well. C; This meeting will discuss the transition
from one phase to another within a project life-cycle. OK, that is the correct definition
of Kill point meeting and I will come to that, but let me read option D for you. D; in this
meeting the project manager will be officially assigned to lead the effort. That is not at
all correct. This is something, which happens in the project charter. So project charter
is the official document which will state that Mr. A or Miss B is the project manager
to this project. So that is not the purpose of Kill point. Now, what happens in Kill point
meeting is, let us think from this perspective, let’s say Phase 1 of my project is to make
a website. Phase 2 of my project is let's say to make an Android app. Now after Phase
1, we will have this Kill point meeting. And in this Kill point meeting that would be senior
management whom I would have to give a reasoning that why I think that Android app is or an
Apple App is a necessity. The senior management will give me reasoning, will give me counter
reasoning and ask what do you really think so this makes sense or not.
And based upon this negotiation, if everything goes good then we will move from one phase
to another phase. If it is not good then we will kill the project right there. So out
of all the four options, option C looks like the best. So I hope you guys also selected
option C, but please don't forget in the YouTube comments give me the reasoning if you selected
C, Why do you think C is correct. If you selected A B D , then also I really wanted to make
sure that you write in the YouTube comments that why you think A B or D is correct. Trust
me I will reply to each comment and I do that, you can see that in the comments below but
I really do that. So, again we want this video to be as much interactive as possible.
Let's move to next question. You have been asked to create User Manuals for a call center
day-to-day task. OK. What does day-to-day tasks means. The keyword is operation. What
is the correct term for this scenario. OK so you have been tasked to create to create
User Manuals. So it looks like that when you're creating a user manual, it is definitely not
an ever ending thing. You will create user manual and it will end. So this means this
particular whatever it is, it has a definite end date. So, if it has a definite end date,
it looks like it is a project. OK keep another thing in mind that what are the keywords for
a project. First keyword is that it should definitely have an end date, which in this
case it is. Second, the product should be unique; when you are creating the user manuals,
the user manual in itself is unique. No doubt they have given the keyword that it's for
call center’s day to day task which is an operation but that is the functioning of call
center which is an operation, not the task or project which you are doing right now.
So out of all four, A looks like the best. It's definitely not program, because program
is all about a set of similar projects and over here we just talked about one project
and I am not talking about multiple projects. So program is definitely out. Similarly portfolio,
portfolio is actually a combination of project, program, operations. It is like a mixture
of all and everything together. But, in this question we asked only one statement, which
was to create user manuals for call centers day-to-day operations. I did not talk about
any big thing or any multiple things. So definitely, portfolio is out as well. OK. So the correct
answer for this question is A, refer to PMBOK sixth edition page 6. I hope you guys are
writing down the answer option. Again, make sure and keep in mind that you are writing
the reasoning why you think A is correct or B is correct in the comments below. Let us
go to the question number 3; you are a project coordinator who is trying to secure developers
for a project. Your title allows the allocation of some resources. So you have little power,
I would say. That is one of the keyword that you have little power. But you are usually
denied the resources. Okay, that is another key word, that you have little power, however,
you are denied resources because they are busy on other projects. What type of organization
are you working at? OK now please pause the video right away.
What do you think the correct answer is? Write in the comments below that I think A is correct
or B is correct or whatever. Please just do not write that A B C or D is correct. Give
me the reasoning. Trust me, I will reply to your comment but I want to know how your concept
is there, and are you doing it right or not. This PMP exam question is all about learning.
So there a couple of keywords, first keyword is that your title is project coordinator,
that is an important keyword. Second keyword is that you have little power but you are
often denied resources. So honestly, it is not organic or simple. Organic or simple is
a very small organization where everyone reports to the owner of the company. Nobody in the
question would talked about this kind of scenario, So D is out. Composite organization is more
like a project-oriented organization where you are following the certain pattern and
based upon that pattern you got a special project. Now this is a new project, it is
a very big project for you, and you want to change the way you handle the projects. When
you move from one stage to another phase. That is known as composite, that you make
some kind of special arrangement for the special project. That is not what we're talking about
here. Now out of A and B, in functional and weak
metrics first of all I'll give you a key word and keep that in mind that's an important
keyword, that whenever you see the words project coordinator or project expediter, you straight
away should go for weak metrics. That is the correct answer. In this question, the second
key word was that you have some power in functional organization PC or PE or PM, they don't have
any power at all. The real power is actually in the hand of functional manager. But in
this question it says, you have some power but often you are denied resources. This means
the correct answer is B. So this organization type is very important from your PMP Exam
perspective. You will get lots of questions on these and they are not just Four, Four
options which you see, there are many other different types of organization structure
like strong matrix, balance matrix and PMO is also another type. So make sure you once
we are done with this video, I'll give you a link to my course videos, You can actually
go to my website also, which is EduHubSpot.com, there you can practice some other questions,
practice simulators and you can watch of course, new videos. So in this question the correct
answer is B, refer to PMBOK sixth edition page 47. For every question I'm giving reference
to PMBOK edition and page number. Why? Because I wanted to make sure you go to the PMBOK,
because everything should be related to PMBOK, if they're just not in PMBOK, This means it's
not important from an exam perspective. Let's move to the next question which is Q No.4;
You're a project manager working for a very small organization, where everyone shared
multiple roles and responsibilities. Everyone reports to the owner of the company, what
type of organization are you working at? So I just gave you the answer to the previous
question and I think you know the answer to this question also. Again, please pause this
video right now and in the comments section write it down what do you think is the correct
answer. Again, Please just don't give me that that A is correct or C is correct. Give me
a reasoning why you think so, Whatever it might be, give me the reasoning. I want you
to build your concepts here. OK so everyone it's a very small organization first of all,
let’s eliminate a couple of them. Multi divisional is not a small organization, Multi
divisional or something you are located in in different countries and every country has
their own office there maintaining and doing things. So D is out over there. Now we didn't
talk about functional manager, we didn't talk about Project Manager We didn't talk about
Project Coordinator, expediter, all those things are missing. Instead what we talked
about was that there is an owner of the company. If there is an owner of the company and everyone
reports to the owner and everyone wears multiple hats. This means we are talking about organic
or simple. It's not the metrics organization. It is not
functional. However, it is actually the organic or simple organization. So in this case the
correct answer is C, refer to PMBOK sixth edition, Page 47. I hope you have got the
answer right. Okay so I hope you have the momentum. Let's move to the next question.
So you are a newly assigned project manager and you are working on a new implementation
project. So first keyword is that you are a newly member. In order to understand the
scope of the project, you meet with the associates who have worked on similar projects in the
past. As a new project manager, you should do that. You analyze that feedback and identify
the risk they have missed, but you have no experience in handling that type of risk.
What should you do in such a scenario? Okay so what does it look like? It looks like you
are a new project manager, you worked with the team members, your other colleagues and
they were telling you about their experience, because of that you came up with some kind
of risk and now you are not sure how to handle that kind of risk. You might be like, you
do not have any experience and since you are new to the organization you don't know how
things actually work in the organization. Now again please pause the video. What do
you think is the correct answer and give me a reasoning for that. Let me read that out
for you. A; do nothing as this case related to past projects.
OK so as a project manager, running away from your responsibilities, like doing nothing
is similar to running away from your responsibility and is not a good thing to do. So wherever
it says do nothing when you have actually identified a risk, which might cause a big
problem to your project. You should not ignore, So A is out. B; document it, but since it's
based on past Project make it low level. OK. What do you mean by low level. What am I talking
about? Of course you should document that, I'm not denying that fact. But how can you
come to the conclusion that it is low level. Since you do not have any experience, you
should actually talk to some expert. You should try to analyze the impact of it and based
upon that you should conclude that it is low, medium, high, whatever it is. Therefore, B
is out as well. C, document it and try to analyze. Of course, you should document it
and take help from PMO department take help an expert or take help even from your colleagues
that what is the impact of that risk and based upon the impact of the risk you should give
a reasoning like you should document it. So C looks like a good option till now. D; do
nothing as nobody knows about it. As I told you before, as per PMI code of ethics and
professional responsibility doing nothing is not a good option at all. You should always
do something. And of course in this type of scenario where
you have actually found out what the risk is. You cannot just simply ignore it. OK.
So in this case the correct answer is C refer to PMBOK sixth editio, Page 3. On PMI code
of ethics and professional conduct. Now PMI code of ethics and professional conduct there
is a PDF document on the on the PMI.org website, if you do not get that, if you are not able
to find that out. Just send an email to my support team or give us a call and we can
share that PDF document with you. It is not necessary honestly to read that PDF. If you
want to understand like in a way, I'm explaining it to you in a video then go back to my website
of just www.eduhubspot.com and in the introduction section videos there are video on PMI code
of ethics and professional conduct. You can watch this I think it is just 10 15-minute
video and you will of course learn a lot. Let us move to the next question. You are
a project manager in your organization, your team members report to you and you handle
their yearly performance review. You are also responsible for resolving issues in case there
are any. It is your responsibility to release the resources when the project is completed
so that they can start the new project. What kind of organization do you look at? OK another
good question I would say. So again, whatever you think is the correct
option. Write down the question number with the answer and give me an explanation that
out of all the keywords, of course I would say those keywords to you. Why do you think
A is correct or B is correct or C is correct. Give me those keywords in the question. That's
how we want to deal with it. OK. So good. . Go ahead pause it and write the correct
answer. Let me do it for you as well. First of all the key word is that the team members
report to you and you are a project manager. So that's an important keyword. You do their
yearly performance review. You are also responsible for resolving issues, so this means you have
a lot of power. And the last and final thing is it is your responsibility to release the
resources. This means these resources do not have home. So that's
another keyword aspect. Let's see what's the correct answer. A We have balanced matrix.
OK. In balance matrix we have both project manager as well as functional manager and
both of them has 50-50 percent power. In this question it looks like the PM has most power
and we're actually not talking about functional management at all. We didn't use the word
functional manager. So A is definitely out. PMO is good. But it again depends upon what
type of PMO it is. Is it supportive, is it controlling, is it directive. There are different
types of PMO department. We know it and we talked about it, right. So B is out as well.
Now in strong matrix. We have both project manager and functional manager and PM has
more power. But did we really talk about functional manager in this question. I don't think so,
we only talked about the project manager so that is out as well. Finally and the remaining
one is left is project oriented, so project oriented trust me PM is God. All the powers,
all the decisions are something, which is taken by the Project Manager, which is similar
to in this question where if you see, the project manager is releasing the resources,
the project manager resolving the issues and everything is actually done by the P.M. So
in this case the correct answer is D, refer to PMBOK sixth edition, Page 47. I repeat
these organizations, different types of organization is very very important from the exam perspective.
So make sure you're watching the role, organization type video on my website to make sure your
concepts are strong. OK let's see next question. So the next question is: you are using three
point estimation technique to develop the total budget for the project. OK so three
point estimation technique we're using. OK. That doesn't make any difference but it is
okay. A more experienced colleague suggests that you increase each estimate by 10 percent
to account for any unknown risk. What should you do? Okay. So first of all again pause
the video, give me the answer. What do you think? Should we increase the estimate or
should we not increase the estimate and whatever it isgive me the reasoning for it. Okay. So
please go ahead and pause the video now.Now in this case, the couple of key words are.
First it says increase each estimate by 10 percent. Are you allowed to increase their
estimate by 10 percent on your own but over here it says, to account for unknown risks.
What is unknown risk? unknown risk we actually use contingency reserve and there is another
term which is also known as management reserve. So the contingency reserve is used for known
unknowns which is that risk which are known and those risks happens and management reserve
is known as unknown unknowns which is the risk which I don't know at all and that happens
on the project. So all these things are actually they are actually calculated, first of all
it depends upon what organization type you are and it into some percentage, like it would
be 5 percent or 10 percent of cost base line and things like that. So that's how you calculate
the contingency reserve and management reserve . But in this question your colleague has
just referred to you and said that you know what, increase it by 10 percent to be on the
safer side. You cannot just simply go ahead and increase it. So first of all that is the
wrong thing to do. Let's see, A, do not increase the estimate. Yes, as I told you before, you
should not increase the estimate. B, you need to inform the customer before increasing it.
Okay, as I told you that you should not increase the estimate. So why would you just inform
the customer of something wrong. Like if you want to do something wrong I'll go to my customer
and say, can I increase the estimate, that's what it is. So that's not what we are doing
here. So, B is out. C- increase the estimate first and then tell the customer the actual
reason behind it. Okay first I'm saying that you should not increase it, but over here
it is saying it should increase and I should tell the customer also. Again, that is not
the correct reasoning. D- Because you are PM, there is no need to inform the customer,
just go ahead and increase. Okay, keep one thing in mind. PM does not means that you
have the license to do wrong things on the project . So D is out as well. So out of all
the four option A- looks like the best option which is the correct one, refer to PMBOK Page
3 which is on professional responsibility, the PMI code of ethics and professional responsibility.
Again, in the description of this video there are a couple of links on my videos on practice
question so make sure you can go there and practice those questions but before you click
on that, I want to make sure that you complete this exercise with me. It's not a long video
but you will learn a lot. Okay next one, Todd is a new project manager in your company.
okay, welcome Todd. Your company has a culture that a new PM is helped by senior members
of the team. You have been assigned as the PM buddy. It is more like an organizational
term whenever a new project manager comes in, you tell him or her to mirror some senior
or experienced project manager, so that he or she can learn from it. The new PM asks
you whose responsibility is to determine the priorities between projects in a company.
What should be your answer to him. OK so the question clearly says, it's a very simple
question. Okay before I give you the reasoning and before I start going and do the justification,
I want you to pause the video right away, give me the correct answer and give me the
correct reasoning for that in the YouTube description below. So please don't be lazy.
Go ahead and do that. Okay let's see. First of all there are a couple of keywords, the
main statement of this question is that the new PM asks you, whose responsibility is to
determine the priorities between project Let's see, Is it the project managers job to determine
the priorities between projects. So for example if there are 10 projects in a company ABC..D
whatever. let's say there are four products to be on a shorter scale, you have two project
managers and these four products will be assigned between these two project managers, who will
tell these two project managers that A is higher priority , B is higher priority, C
is higher priority or D is higher priority. Someone would tell, right. It is definitely
not. It is upto the discretion of project managers to decide whether my project is more
important or your project is more important right. So it is definitely not PM's job. Project
management team, this is something which is assigned after a project is started and they
cannot decide the priority, it's like even project management team is even lower than
project manager. So I'm saying someone higher up in the organization should take that decision.
C- project management office, this is a very good option I would say, first of all different
types of PMO . And in one of the PMO, the project managers are actually assigned and
they also determine the properties between different projects. They use different metrics
like NPV, payback period, Cost benefit ratio and things like that. It depends from organization
to organization. So C looks like a good one. Dis The customer, Now lot of people might
have selected this option, but let me tell you one thing. Let's say I'm handling five
customers and I'm getting one project from each of these five customers, will the customers
tell me that Varun, my project is more important than your customer B or C or D. They can of
course recommend it but ultimately it's not their decision right. I am doing the projects
for them. So it is up to me or my organization to determine whether which projects are more
important. So customer do not have the power to determine whether their projects is more
important as compared to others and things like that. A lot of customers try to do that
but honestly it's not their responsibility of doing that. So as you can see using elimination
technique I eliminated all the options and the correct answer in this case is C, which
is the PMO department, refer to PMBOK sixth edition, Page 48. One thing I would like to
let in this is that there are different types of PMOs in PMBOK itself so make sure you are
properly going through that PMBOK. So write the note of it on your sheet on your notes
whatever you're making that, after this video you will go to PMBOK and you will read on
page 42 the different PMOs or you can actually go to the video. There is a link to my video
in the description, you can go to my videos section also where in the introduction section
there is one video on PMO's, so you can very well go and talk about, learn from that as
well. So let's move to next one: which of the following is an enterprise environmental
factor? Okay another important one! I know a lot of people, actually I on a daily basis
get many emails, I cannot even tell you the count, and people are asking Varun can you
tell me? One of my students from my mentor program, they asked me, Varun can you tell
me the difference between EEF and OPA, I always get confused what EEF is and what OPA is.
So let me tell you right now, and I'll try in just one or two minute I can't explain
the entire picture but at least I will give it a try and do little bit of justice to this.
So EEF is enterprise environmental factor, something which is external to your project
which might have an effect on your project, something like, let's say you're working on
a project and stock market crashed, okay which might impact your project. So something which
was not in your hand, but something externalwhich impacted your project, this is an actual example
of EEF, on the other hand which is OPA which is known as organizational process asset , so
in OPA what happens is something like your processes, policies of your organization,
like I'll say the lessons learned document in the repository, where do you save all those
things. That is an example of OPA, so something which is internal to your organization, you
have to follow certain policies and things, all those are part of your OPA. If you want
to know more about a EEF and OPA then in the description there's a link to my website,
my course videos, my questions, go back to introduction management. The video is over
there, you will see the difference between EEF and OPA video, it's free no worries, just
go ahead and enjoy. Again pause the video and give me an answer of why do you think
A is correct or B is correct C is correct or D is correct. Let's see, Change management
knowledgebase, okay as I told you OPA is a kind of a repository, so the question is which
of the following is an EEF, so change management knowledge base is actually an example of OPA
not an EEF because it's a knowledge base, it's a repository.Repository is more like
always an OPA so you can eliminate that. B - Change control process, as I told you processes
policies all those are always part of OPA, so this is gone as well. C is identical historical
information, the word historical information is actually a key word for OPA, so you can
eliminate this choice as well and finally we have commercial databases, okay lot of
people think and they might say it's a database so is repository. No, commercial databases
is something different, think of more like something a benchmarking of something, or
a risk database, if you are handling very complex integration project then your risk
level is very high, so something which is external to your project, something which
is not in your hand, that is the true example of commercial databases. So lot of people
get confused about the real meaning of commercial database. This is, like benchmarking, like
your risk, all those are actually example of commercial database and this is the correct
answer for EEF which is your enterprise environmental factors, refer to PMBOK 6th edition page 39,
there are a lot of bullet points in EEF and OPA. so again write this note that you have
to go to PMBOK page 39 and read those bullet points of EEF and OPA. Okay, and if you want
to understand through a video where I explain this beautiful concept in much longer video,
then of course you can go back to my website which is in the description below and try
to understand the difference between EEF and OPA. In the introduction section there is
a video on this also. Ok let's see the next question, so good job guys, we are at question
number 10 and you are doing a great job, I'm sure you're learning a lot, try to learn the
way I am approaching to a question and again I'm not saying these PMP exam questions will
come from this knowledge base, with this database but of course more than 95% of my questions
in my database my EduHubSpot database are scenario-based and you will see questions,
most of the questions of PMP exam would be scenario based where they will be talking
about what should the project manager do, what is the first thing project manager should
update and things like that. All the questions would be on scenario base and you should practice
good real scenario-based questions and see how I am using this elimination technique
of approaching into a question. So this is what you need to learn from me through this
video and of course to pass the exam, if you need my mentor program, simply don't hesitate
to reach out to my team, my email address, my team's email address is below and if you
don't want to reach how to my team and you want to reach out to me directly, over here
I'm giving you my direct email address, it's my first name varun.anand@eduhubspot.com just
reach out directly to me and trust me, I will definitely reply to them. I am very very quick
and that's one good thing about me, my students tell me about me. So let's get back to a question,
you are a vendor who has been asked to set up a PMO on the buyer side of the organization,
the customer requirement from the PMO is well-defined framework where the PMO will provide various
templates, forms, etcetera. Yes the PM's will not report directly to the PMO, what type
of PMO is this? Ok read the question and here you go, pause it now and make sure you give
me a reasoning that why you think supportive is correct or controlling or directive or
hybrid. Please do so now. Okay, let's do it. So a couple of key words in this question,
first is that there is a well-defined framework, that is the first key word in the question.
Second key word I would say, it's giving you forms templates which is a good thing, and
the third key word in this question is that the PM's do not report to PMO, so PM's don't
report to PMO. So, first of all there are only three types of PMO defined in PMBOK sixth
edition which is supportive, controlling and directive. Hybrid is not type of PMO so you
can eliminate that choice, so one answer option is gone. Now, in the second PMP exam question,
there are three other options which are left which which actually gives you the forms and
templates so if you see here, well define framework is let's say Point 1, Forms and
templates at point 2. So supportive means which is covering point number 2, okay and
in supportive since the power is very low, PM's actually don't report or so it is covering
actually point 3 also however supportive does not have a well-defined framework so that
is missing from supportive, so A is gone. Now out of B and C, let me do C first Directive
is where PM's actually report to the PMO Department only, so this is actually which is opposite
of point 3, so in this question it says PM's don't report to PMO but in directive PM's
actually report to PMO, so C is gone as well. Now the only one which is left is, controlling.
So controlling is, of course you will get the forms and templates which is point 2 of
course PM's don't report to PMO so this means it's going with point 3 also and the most
important feature of controlling is that it has a well defined framework, they have different
processes they have methodology to follow, which is actually the unique point of controlling,
which is your answer option B, controlling. I hope you like this exercise and I hope you
selected B, if you did not select B and as a lot of people don't select B, give me a
reasoning that why you did not select B and in the comments below. Now also you can actually
go back to PMBOK page 48, pause the video right now open the PMBOK page number 48 and
try to see what are the different types. I've tried to explain it to you and I hope you
get it cleared, but if you're still confused again please don't hesitate to reach out to
me or my team and we will definitely reply or even write a comment in the YouTube right
now. I would reply to that as well. Let's move to next question, question eleven. So
if you see, whatever questions we are doing till now, all the questions are actually scenario
based. Most of the questions are actually scenario based that's how your real example
would be. This is the type of question you should practice, not some simple. If you're
scoring 70's 80's and some kind of questions this means you are missing something. PMP
exam, PMP certification is not easy, trust me guys, it has to be lot of practice, not
just thousands of question but doing it right, using some concepts building and this questions,
the way I am approaching it to you, I am trying to show you how I am dealing with a question
and this is how you should learn as well. Let's do next question: you are an experienced
project manager who has worked many years with your company, you have complete knowledge
of the processes and how things works in your organization. However you have limited knowledge
about project selection methods. So you have limited knowledge about project selection
methods, recently you have been tasked with choosing the best project out of multiple
selections, what should be your first step? Okay so you have been given a task where you
don't have the right knowledge, you're lacking something, what should you do? Okay, so please
go ahead, pause the video, think whichever is the correct option, try to use elimination
and give me the reasoning why you selected that in the comments below. A- select the
best project using your best judgment, okay as I told you before, in the question itself
it is saying that you don't have the right knowledge. So if you don't have the right
knowledge, how can you select the best project what if you select the wrong project, so A
is definitely out. B- as you have no knowledge, refuse to take the assignment. Okay, as for
PMI code of ethics and professional responsibilities you are refusing to take the assignment, I
can agree that you don't have the knowledge but let the management take that decision
and just don't simply refuse it. You are here to learn something new, simply refusing it
that I cannot do it is not the right thing. The same approach goes to a PMP exam also,
just by watching couple of videos or going through a boring PMBOK, you decide that I
cannot do it, please think again. This means you are not doing something right, so if the
approach is right you will definitely pass the exam. C- get an expert person to select
the best project, this looks like a good option that you are taking someone's helps to help
you select the best project. D- inform the management about your lack of knowledge and
the particular area, okay D looks like a good option as well. Now out of C and D, both of
them looks good but D is a better choice and I'll tell you the reasoning why, C means that
you are taking experts help but in this case you are not informing the management that
you took expert's help. You are trying to show it to the management that I did this
job, yeah which is unethical, which is not right. In D you are being ethically safe and
sound and you're telling the management you don't have an experience, if you want me to
give me an expert and take help from expert I am fine with that or if you agree or if
you believe in my judgment I'm fine with that also. So in option D, you are actually being
honest about it , that's what it is and we selected option D as the right choice, refer
to PMBOK 6th edition page 3, PMBOK page 3 has only I would say a one small paragraph
on PMI code of ethics but if you want, just send my team an email and we'll share the
PMI code of ethics and even if you want let's say the ITTO sheet, it's free of cost, you
can actually go on my website and download that on the homepage itself or you can send
us an email, we can share the ITTO sheet and of course the PMI code of ethics, but more
than reading a PDF it's better to watch a video, an interesting video which is on my
website, again of course in the introduction section on PMI code of ethics, so make sure
you are watching that. Let's move to next question, project A has a benefit to cost
ratio of 24%, okay so project A has BCR of 24%, project B has BCR of 9%, project C has
BCR of 41%, and project D has BCR of 16%, which is the best project out of these? Ok,
make your guesses, pause the video, select the answer and course in the YouTube comments
give me a reasoning why you selected A or B or C or D, again just please don't simply
write A or B is correct, I don't want to see that. It's of no use to you and it's of no
use to me, what I want is to learn out of it, give me the reasoning, I want to correct
your reasoning if it is wrong. Okay, so we can clearly see, project C has the highest
percent and project B has the lowest percent and we are talking about BCR, which is benefit
to cost ratio. benefit divided by cost; benefit to cost ratio. Now in BCR, higher the BCR,
the better it is for the project.so the project with highest BCR should be selected which
is project C, now in the same question if I would have given you CBR which is cost-benefit
ratio, which is cost divided by benefit, which is actually opposite of BCR, in that lower
the number the better it is. which is project B of nine percent, so if CBR was given I would
have selected B, if BCR is given I would select C. A and D are completely out, now in the
exam it's not necessary that you will only get BCR or CBR. There are a couple of other
terms also which is NPV, payback period, opportunity cost, and there are a couple of other terms
also, an important one. Of course I've given some questions and I've explained those questions
on these different terms but in order to understand fully grasp this concept. Again, I would want
you to go to in the description below, there is a link to my introduction management videos,
go and watch the project selection methods video. You will love it and you will see the
way how I'm approaching to the question. So, in this one the correct answer is C higher
the BCR the better it is, refer to PMBOK sixth edition page 34 for more information. Okay
let's move to next one, you are managing a project which is in planning phase, you have
completed developing the project Charter and this project contains multiple phases with
multiple contractors, so you're dealing with lot of stakeholders, the contract contains
propriety information from vendors, one of the functional managers of your organization
wants to view this information. Okay some propriety information, what should you be
your response to them? Please again read the answer options, select which one is correct
to you and give me a reasoning in the YouTube comments, why you selected that? Pause the
video right away, okay let's do it, now first of all tell me is it okay to share information
with your colleagues in the same organization? That is the first thing, a lot of people might
say no Varun it's not okay, but honestly it's not true. You can share information with your
colleagues, for example like I most of the time whenever I do some kind of project, I
actually go back to my repository and I use various templates, forms etc all those things,
so that I can reuse them, but this situation is little different, in this situation is
the propriety information is given to us. So, you cannot actually share the information
because the word propriety is given, however if the word propriety was not given, then
of course you can go ahead and share the information. So let's see, A-the functional manager is
not part of the project you should deny it, which makes sense, okay so let's keep A. B-you
can share the information with them because they belong to the organisation. As I told
you, since the word propriety is given you cannot share the information. So B is out.
C-deny the request to protect the confidentiality of the information. Okay, so C is also saying
that you should not. D- accept the requests but tell them not to share the information
with anyone else. Okay, you are being unethical if you share that information which has some
proprietary information. So D is out as well. Now out of A and C, A is saying you should
deny it because that person is not part of your project, C is saying deny it to protect
the confidentiality of the information. Now as I told you, you can share the information
with your colleagues even if they are not part of a project, if the word propriety isnot
given. So this means A would have been correct if the word propriety was not given, but in
this case the word propriety is given so this means you have to protect the confidentiality
of the information. So out of A and C, I'm not saying A is bad but I'm saying C is better,
so a lot of time you will see these questions where you have to select a better answer option
and that's what we did, so C is a better choice, refer to PMBOK 6th edition page 3. Okay let's
move to question 14 now, you are a project manager and you have divided the product development
into series of iterations where you will be adding more functionality during each iteration,
after the final iteration your product will be completely functional, what development
lifecycle are you following? okay another good one, another good question and I'm sure
a lot of people might have got this question wrong. NO, you have not attempted yet, give
me the answer what do you think is A correct B correct C correct or D in the comments below
and give me the reasoning why do you think your preferred selection is correct.
So, pause the video right away and I'm giving a minute to do so and before that and I'll
explain that. These life cycles are actually very important topic honestly, and I cannot
do a true justice if I explain these life cycle in this video, so in the description
below there is a link to my video sections in my website, go to my introduction management
video and over there I've actually explained life cycles also, it's free of cost, just
go there and try to understand different life cycles, a very important topic from the PMP
certification perspective, PMP exam perspective very important. Now think of predictive life
cycle more like a waterfall model; waterfall model is where your scope is defined, your
cost is defined, everything is defined up front and then you move to the next phase,
so that's not what we are talking about in this question, this question you are actually
adding functionality in small chunks. I'll give you an example and hybrid life cycle
is like a combination of different , combination of agile plus something else like waterfall
plus agile and things, so hybrid is out as well. Now out of Iterative and incremental,
first of all both of these actually run hand in hand, think from this perspective that
you want to make a login page, so in first iteration what you did, you added a username
box and you added a password box, that's your iteration 1, and I'm explaining actually incremental
life cycle to you, then an iteration 2, in iteration 2 what you did, the username and
password was already added but you added a functionality which is forgot password link.
Then in iteration 3 what you did, user name-password was already there, forgot password was already
there, but once a person gives the clicks on the right option or gives a right combination
of username and password, what is the first screen they will see, so what you're doing
is that after iteration 3 I can say that this product, whatever I am making, in this case
this web page is fully functional. That is known as incremental life-cycle and that's
what we have explained in the question, you want me to read the question again for you,
that will explain it to you in more sense. Let's read it, you're a project manager and
you divided the product into series of iteration where you will be adding more functionality
during each iteration, after the final iteration your product will be completed, that's exactly
what we did and when we do it step by step we are actually doing different iterations.
In different iterations we do something, that is iterative life-cycle but when I combine
everything together, 1- 2- 3, that is known as your incremental life-cycle. If you want
to understand this in much more detail, then I request you to go to my introduction management
video, not now but once you're done with these questions, it's not a big video, make sure
you're watching this video completely but write it down in your notes that you have
to go to introduction management videos and try to understand those concepts as well,
and if you need any help, you want me then just send me an email, you can reach out to
my support team or you can send me an email as well. I will give you my email address
at the end of this video so don't worry. Okay so in this case the correct answer is C, refer
to PMBOK sixth edition page 19. Okay so we are almost there, I hope you are learning
from this exercise, stay tuned and keep on going, you have to learn a lot, you are in
the learning phase, so just this keep on doing the hard work. You guys are doing great, next
one, your customer requested a scope related change during a project, which is very much
normal, Right? The change was formally approved by the Change Control Board and you are in
the process of implementing it. Okay, so there was a change request that change got accepted
and approved and you are providing regular implementation status to the customer. So
your team has actually started implementing also and you are giving implementation status
to the customer, what is the correct term for the information you provide? Okay, please
pause the video right now, give me the reasoning. We are talking about work performance data,
information or work performance report or we are actually talking about PMIS, so please
pause the video now. Okay, I hope you selected the right answer in the YouTube comments below,
I hope, but the key word in this question is implementation status. Implementation status
is actually part of your work performance information, you are sending information to
these stakeholders that this is where we are on this change request, now a lot of people
actually get confused and I get this email a lot where Varun, can you explain what is
the difference between work performance data and work performance information, and work
performance report and I always tell them think of work performance data as raw observations,
and think of work performance information as something substantial, when this raw observation
gets converted into something more substantial, something like CPI, SPI value, that is your
work performance information. When you send this CPI,SPI, in some kind of report that
is known as work performance report like your weekly status report. and finally we have
the PMIS, the key word for PMIS is repository, now if you see clearly that we are on the
question number 15th actually, you can see that how beautifully I am coming up with these
keywords for each of these different terms and your entire PMP preparation is actually
based upon keywords and you have to learn those keywords. If you want to learn those
keywords, if you want to be part of my mentor program, just send me an email and I'm sure
you will like it. So out of all of these, we are not talking about raw observations,
we are not talking about some kind of reports but we are talking about implementation status,
something more substantial; which is your work performance information. So in this case
the correct answer is B, refer to PMBOK 6th edition, page 26 or write a note right now
that you have to go back to page number 26 of PMBOK and understand and read the three
different work performance data, information, and report. And if you are confused with the
PMBOK language, which a lot of people are, make sure you go to my video in the introduction
management and see how I have explained these differences. It's in the introduction section
on my website and I hope you know my website, it is www.eduhubspot.com, let's move to next
one, okay Your CTO requested a feasibility study comparing two separate software platforms,
what plan/document would you share with him or her? Basically they are trying to ask you
which particular plan or which particular document has feasibility study mentioned in
that. Okay, please pause the video; give me the reasoning why you selected A B C D in
the YouTube comments now. Now, before I start explaining this question to you, I want to
tell you a trick. Trick is known as father-child relationship and this is actually authored
by me; Varun. What is this father-child relationship, this father-child relationship is that whenever
a question is being explained and there are both father as well as child in the answer
option, you will always select the child. What do I mean by that? Let us say a question
says, give me which of the following plan or document has the information about how
you can control scope, this is the question, How you can control the scope? A lot of people
will think the answer is project management plan because that has information about how
you can control scope, let's see there is another option which is scope management plan,
lot of people might select scope management plan. Now if you see properly, project management
plan is actually a combination of I think 18 or 19 sub-plans, Right. All of these plans,
I call project management plan as the father and I call the scope management plan as the
child. Now out of this father and child, you will always select the child, which in this
case is Scope management plan. Now why I explained this theory to you and I've given lot of similar
theories in my course videos, so you should learn, you can go to my introduction videos
and learn from it but why I've given this theory specifically in this question is because
this question talks about the feasibility study, now in the feasibility study, feasibility
study is actually mentioned in project charter, it's actually mentioned in project business
case. Now out of charter and business case, I would call Project Charter as the father
and business case as the child. Why? Because If you remember, one of the input
to develop project charter process is the business case, so business case actually is
the input to the Project charters, business documents are actually the input to the project
charters and they actually give you that feasibility study information. As per the Father-Child
theory, you will always select the Child, which is your answer option D, B –The project
management plan is out, Benefits management plan talks all about benefits only, it's not
talking about the feasibility study so C is out as well, so the correct answer should
be D which is the project business case, refer to PMBOK page 29 and 30 for more information.
Okay, let us move to next one, you are chosen to be the project manager for a job in another
country, so you're working in another country, it's not your home country. The customer hosted
a project kick-off party, and give valuable gifts to all project team members. I hope
I get a customer like this, who gives valuable gifts, I'm just kidding, that's not ethical.
The customer also requested that you complete the project sooner than anticipated, what
should you do? Okay, first of all, accepting gifts is it a good thing or is it not a good
thing? Honestly it depends upon what type of organization you work in but if it is not
given then you should not accept gift, it is unethical. Now again I want you to pause
the video right away, in the comment section below give me the answer, what do you think
is A correct, B correct, C correct or D correct, give me a reasoning for it, please just don't
write the answer option, give me the reasoning. Okay A- accept the offer because it is not
considered a bribe, as I told you, if it is not mentioned that your organization policy
permits you to take gifts it is considered to be a bribe, so you should not take it.
Reject the offer because it violates the code of ethics and professional conduct, that looks
like a good choice well let's read the other ones as well. Politely refuse the offer and
accept the customers demand of completing the project sooner, okay I am assuming you
might have selected C, a lot of people actually select answer option C for this because you're
politely refusing ,instead of just upfront rejecting the offer you are politely refusing
the offer. Now that I can agree that politely refusing is a better statement than rejecting
the offer, but this second statement which is accepting the customers demand of completing
the project sooner is not right. Without even doing the impact analysis, without doing this
triple constraint triangle and doing the impact analysis, you cannot just simply go ahead
and accept the customers demand, so if you accepting that this means you are not following
the proper process, so definitely C is out as well. D- politely refuse the offer and
don't do anything, okay now out of B and D both of them are saying that you should reject
the offer or you should refuse but B is more sound, more robust, why? because B is giving
you a reasoning that why you should reject the offer and instead of just don't do anything.
Most of the time keep one thing in mind that not doing anything is not the correct thing
to do on your project, it's not allowed and this is against PMI code of ethics and professional
responsibilities. So in this case the correct answer is B refer to PMBOK page 3 for more
information. Okay tired, keep on continuing, few more questions and I'm sure you will learn
a lot, you are learning a lot so take a break if you want, pause this video, take a glass
of water, coffee ,tea, coke, whatever you like it go ahead to it, and I'm sure you will
love it, you're learning or not this is more of a learning cycle. Man, I am also speaking
without drinking water, so go ahead. If I can do it you guys can also do it, let's do
the next question, which of the following is not considered a project? Okay read the
four options, pause the video, give me the answer option and give me the reasoning why
do you think so. Which of the following is not considered a project? An easy question,
let's see remodeling a kitchen, okay first of all always remember and I think I told
you in this video also, project has to end. It has two keywords, first end date, a project
should not be like an operation like going on and on and it should have a definite end
date and second, a project should be unique. Now in this question it is all about which
of the following is not a project. Remodeling a kitchen, of course you think that remodeling
a kitchen will have a definite end date, Right? So that is gone. B- building a metro line
that will connect cities, of course that will have an end date, I am assuming that might
have a longer duration and it but of course that will definitely have and end date, so
it is also out as it also a project. C- running an IT Help Desk team, okay running a team.
Okay, this is something which is more like an operational term, I don't think that is
very specific, that will have an end date, you just keep on doing the same thing again
and again and again so C looks more like an operation instead of an end date, so this
is actually the correct option. Shooting a feature film, of course you will have an end
date to the film that's why we all can go to multiplex and watch that right so D is
also out. So out of all the four I think C is like the best choice, let's see if to PMBOK
page six for more information. Thank you. Okay next question, we are on question 19;
you are conducting a JAD session for collecting software requirements, your customer forces
you to include a requirement which you believe is impossible to implement because it works
on an unsupported version of a browser. What should you do in such a case? Okay again,
I repeat, please pause the video right away select which option do you think is right
and give me the reasoning in the YouTube comments. As you might see that I am replying to each
and every comment, so if you really want me to help you then I really want you to follow
this principle, make sure you're giving me reasoning so that I know where you are making
mistakes and what mistakes are those. Okay let's move on, A is You don't document the
requirement, B is document the requirement and consider it as a risk, C is try to understand
the customers point of view before documenting the requirement, and D is customer satisfaction
is a primary goal so document that requirement. Okay so you believe that this requirement
is something which is impossible to implement, so should you just go ahead and write it because
your customer wants that. Okay let's see it. A-Don't document the requirement I would say
maybe correct. B- document the requirement and consider it as a risk, I would say again,
maybe but not the best. C- try to understand the customers point of view before document
that requirement, okay if customer is pushing you for a requirement you really should try
to sit with him, understand what his or her expectation is and give your expectation and
explanation to the customer, so I think just simply taking a decision on Don’t documenting
the requirement or documenting the requirement, it's better to have a discussion first, before
you take an extreme step, so C looks like the best till now. D- customer satisfaction
is a primary goal so document the requirement. Okay, in real world I can say customer is
God, for me also like you guys who are watching this video, customer is God but in the PMIS
perspective customer is not God, in your PMP exam keep one thing is my customer is not
God, so whatever statement where it is saying that your customer satisfaction primary goal
go ahead and do that, no you won't do that so D is out as well. So, in this case the
correct answer is C, refer to PMBOK page 3 for more information. Ok next we are on question
number 20th, let's see it, let's do it. Tom is a project manager who is always seen with
the PMO director. He excessively and insincerely praises the PMO director to get his work approved
what type of power is Tom practicing? A good question I would say, again pause the video,
give me the reasoning which one did you select and of course please give me the reasoning,
I request you please give me the reasoning for that. Ok so in this answer as you know
PMP exam, PMP certification has only four answer choices. So over here I'll be explaining
these four answer choices to you but honestly in your PMBOK guide sixth edition there are
many types of power which are explained, so I would request you to go to my roles organization
video in the in the introduction section on my website, the link is in the introduction
section and try to watch that, you will definitely learn a lot and this is a very important topic.
So first we have is the positional, it is more like a formal, let us think from this
perspective , I am your boss on papers, I do your performance evaluation, that is your
positional power when you show. In this question it looks like that what Tom is doing is, Tom
is actually insincerely praising it, so that's not position. Relational is when you say that,
I am related to the vice-president of the company I play golf with that person, that
is more like a relational. So over here the key word in the question is relational, it's
insincerely praising. Ingratiating is something which is where you are in sincerely praising
the customer, that's actually the key word for Ingratiating ,so you should select C which
is your correct answer, and D is referent, it is people respect you because you have
gained that credibility so that's not what we are doing here. So out of all the 4, C
looks like the best answer choice, please refer to PMBOK page 63. Okay next question,
you are in the process of gathering high-level risk for the project that has to be documented
in a project Charter. One of the key stakeholders tells you that this project will not succeed
because you don't have support from the local government of the developing country, where
majority of the work will be done. What should you do in this situation? Okay again please
pause the video right away, think of the answer and give me the reasoning for that answer
option in the YouTube comments below. Okay let us do it. A- immediately stop the work
and reach out to sponsor for his or her advice. Really guys, as per PMI code of ethics you
should not the straightaway go to sponsor, first try to find a solution and then if is
something not in in your control then you should escalate it, so A is out. Find the
reason behind the stakeholders comment, okay if the stakeholders has given you some information
of course you should do some due diligence at your end and try to find the reasoning
behind it. Right? so B looks like a good choice. C -document the stakeholder comment in the
Charter and continue with the project as this risk will not affect you. Who are you to take
the decision that this risk will not affect you. The complete definition of risk is something
which is unknown, which can happen on your project, Right? So I'm not saying it will
necessarily happen but it might not happen, it happen also, right? So again before you
document it, first you should get the reasoning and then you should take a decision. Therefore,
C is out. D-ignore the stakeholders comment because the project sponsor already knows
about them, okay where did the question state the sponsored already know about it and how
can you even ignore it. This is a risk to your project you cannot just simply ignore
the situation, so D is out as well. So out of all the four options, B looks like as the
best choice, refer to PMBOK 6th edition page 3 for more information. Thank you.
OK, next question we have question 22, it's been one year since you were hired by an organization.
Your manager allows you to set your own goals and make your own decision. I wish I have
a manager like that. What type of leadership style is being displayed by a manager? Ok
a pretty good question and these leadership theories are very-very important from your
PMP certification, PMP exam perspective so make sure you are going to PMBOK, you are
going to my introduction management videos on this section and watching that, lot of
concepts and over here will just explain the four concepts. Ok another point, pause the
video right away give me the reasoning for it why you selected that option in the comments
below. Ok, so first is Laissez-faire, second is Servant leader third is Transformational
and fourth is Charismatic. Ok, Laissez-faire and this is actually the answer of this question,
and it's answer option A. Laissez-faire is a leader who believes in you, a leader who
let you handle it, set your own goals and will be always ready to support you in order
to make sure you are reaching to that goals, so that is the true definition of Laissez-faire
which is actually explained in the question. Servant leader is someone who put people first
and then the work, so Servant leader is someone who will say that, ok let's say if there is
some firing going on, Servant leader is someone who would try to make sure that firing doesn't
happen in his or her department because for him people are almost given more perspective,
that is not being described in the question over here, they have said he or she lets you
make your own goals and that is actually the definition of laissez-faire. Transformational
is something which is based upon inventions, like an entrepreneurship, like all those good
things will come from transformational leader, something like this thing where I'm explaining
a question to you in the video itself, I don't think so any PMP exam simulator does that.
Till now I'm pretty sure nobody does that, where they explain questions to you, where
they are doing some kind of elimination techniques and helping you on that, I don't think so.
So this is a transformational leader has taken that decision of giving something similar
to the users. Charismatic is someone of you are just impressed by the personality of the
person, if someone is doing that that is the charismatic, very good speaker all those are
actually good adjectives of charismatic leader. So in this case the correct answer is Laissez-faire.
As I told you before, there are many types of leadership style and these four are just
four, but I think there are six to seven, I do not remember the exact numbers. So what
I would recommend is, in the description below you will see the videos, a link for my introduction
section videos, just go and watch those videos. Trust me you will love a lot and you will
learn all the different types of leadership style. Okay, come on guys you have done it,
we are still three more questions 23 24 25, just three more questions, you're doing great.
If you have reached up to this stage, this means you have done a lot of hard work and
these three questions might be the game changer for you. Okay, let us do it. You're a project
manager and you have borrowed two resources from the functional manager for a product
development project. It happens, Right? The two resources; Ryan and Harris constantly
argue about two product features, okay conflicts are happening that is also very much normal.
Due to this the deliverables has missed some deadlines, that's not good. What should you
do in this scenario? Okay what do you think is the correct answer choice, mark it below
in the YouTube comments, I am giving you a minute I will just pause this video right
away. Okay so now it looks like that there are two resources, they're having conflicts
and it looks like your deliverables are being affected by it, what you should do? A- remove
them and request two new resources. Okay, without even talking to them you will just
simply go ahead and remove them, are you are you sure you will take such an extreme step.
A is out, that is too extreme of a decision. B- meet with them and try to find the root
cause, I think in a in a normal scenario also in a real world perspective I think the first
thing I would always do is to meet with them and try to find a solution before taking any
extreme step. C- escalate to their functional managers , again the same thing, I won't go
and escalate to the functional managers even if my deliverables are being effected, firstly
as a project manager it is my job to make sure I talk to them, if option B doesn't work
then yes I will escalate to the functional manager, if that also doesn't work I'll probably
remove them which is answer option A, but my first thing would always be to talk to
them. D- request the remaining resources to work on the missed deliverables. Okay, are
you sure about that? You should find the root cause and you should resolve the root cause
of the problem, not just request other people to start doing their work, that is not a good
a long-term solution, might be an interim solution but not a long-term solution. So
out of all the four options B is the best choice and of course refer to PMBOK sixth
edition page 3. A small paragraph on code of ethics but if you want bigger document
reach out to my support team or you can reach out to me directly also or if you can go to
my introduction management videos, there is a complete video and code of ethics as well.
Okay, next question you are working on a project for a non-profit, as a part of your organization's
process you need to fill out various forms to make sure that you are doing the right
thing at the right time, that is actually work authorization system; doing the right
thing at right time and right format. These forms are related to the environmental changes,
which are caused by the project. Okay a good question, so it looks like that there are
some mandatory forms which you need to fill and your project is actually causing some
environmental changes, as I told you something which affects your project, something which
affects your project externally is an example of enterprise environmental factors which
is your answer option C. We are not talking about portfolio or program over here, program
is something where we are talking about similar projects or portfolio is like a combination
of different projects, programs and operations and things. We are not talking about that,
so both A and B are gone. Now out of C and D, you might think that Risk mitigation is
one of the answer choice, then why not Risk mitigation is the correct choice, there is
not just one technique of risk technique, if it is a threat there are many other. Like
there is avoid, there is transfer. So you can use actually many other risk technique.
Where did I say that by filling up the forms you are mitigating the risk, are you decreasing
the probability and impact of those risk by just filling up the forms? No. Right, so D
is out as well. So out of all the four options, this is an example of enterprise environmental
factors, so in this case your correct answer is C, refer to PMBOK page 38 6th edition for
more information. Okay guys, you did a great job we are in the last question which is question
number 25. So if you have reached till now, first of all I want to congratulate you and
I'll give you some important information about after this question 25 as well. So stay tuned
you have learned a lot and I am sure that I did a good job in explaining those videos
to you, but make sure you have learned a lot, you have collaborated with me, I have been
replying to all your comments on YouTube and that is how it is.
Let's see, you have been assigned as project manager for a software development project,
the cost estimate for the project is $100,000, however you feel that you cannot complete
the project within this budget. As per your analysis the estimate should be at least $125,000
your sponsor is willing to start the project with another project manager if you don't
accept it. What should you do in such a scenario? So it looks like that your sponsor is pushing
you to start a project with an estimate which you think which you are not comfortable, which
you think is not at all possible, what should you do? Okay last question, so make sure you
are pausing the video and giving give me the right answer, A B C or D or whatever not just
right answer, if you think why not C is correct option and give me a reasoning for that. Okay
Let’s see. A- Stop the work until your sponsor accepts your estimate. don't you think so
it's a too extreme of a decision to stop the work immediately. So A is gone. B- Ask the
sponsor to assign this project to some other project managers, remember PMI code of ethics
and professional conduct, you should take the responsibility, you should not just tell
the sponsor to take someone else. In this way you are actually shying away from your
responsibility, so B is not right as well. C- submit detailed facts supporting your estimate
and then let the sponsor make a decision. Okay, now in this option you actually did
your part by giving detailed facts, so give detailed facts to the sponsor and then let
them take a decision. If they want to go with another project manager they can very well
go ahead, but you should not accept the wrong thing. Before taking an extreme step you should
give reasoning and points which answer option C is doing. D-document the limited budget
as a constraint and continue working on the project, again in this you are actually accepting
the wrong thing and you are continuing so you are actually set up for failure in this
case which you should not be so D is definitely out as well. So out of all the four options
C looks like the best choice, refer to PMBOK 6th edition, page 3. So here we are guys to
the last section and I hope you have liked this exercise, just in case if you want to
enroll in my program I have couple of requests, if you like this exercise and if you want
to know more about the PMP, if you want a study plan then couple of things I want you
to do. First, subscribe to my YouTube channel and
it is not just a marketing pitch that will help me increase the subscribers, of course
it will help me but the real reason why I am asking you to do is because I always come
up with new videos and you want to learn from those new videos, Right? So you should subscribe
it. Then if this is your second attempt or third attempt and even if it is your first
attempt, you are clueless, you started preparing but you are not sure how to proceed ahead
or you're confused, you find PMBOK very very boring and you want my support, mentor support
in order to make sure you successfully pass the exam then this is my email address varun.anand@eduhubspot.com,
just shoot me an email and trust me I reply to each and every email I got and I get a
lot, and I reply to each. On one section you will see my next video lessons here and on
one section you will see my favorite video, so go through these couple of videos in the
description there are all the links and I am sure, I will get you this three-letter
word which is known as PMP after your name. Thank you
