50 Interview Questions For PMP
50 Interview Questions For PMP
6. Who is a stakeholder?
Any person, organization or an entity whose interest is affected,
positively or negatively, because of the project. The influence of
stakeholders is an important issue to take into account in any planning
and subsequently during execution of it as well.
Baselines are the final version of all plans before the project execution
starts. Project baselines are the starting versions of all related plans of a
project, be it the time schedule, the quality plan, the communication plan
or whatever. This acts as the reference against which project
performance is measured.
A process is a defined way of doing things. Not only does the process
define the actions to be taken but also in what sequence they are to be
carried out. Process groups are a set of processes that are applicable to
various stages of a project. For example, initiating process group,
planning process group, etc. Each of the processes has a defined set of
inputs and produce defined outputs by applying a set of tools and
techniques on the input.
RAID stand for risks, assumptions, issues and dependencies. These are
vital items that a PM should always be aware of. There are always risks
about actions and a PM must take least risk actions. Unless assumptions
about any estimates or actions are clear, these can go wrong. Issues and
Dependencies also limit the choices of actions often.
Work breakdown structure defines the work activities required for the
project and the sub-activities of each of the work requirement. The
breakdown goes down to levels where all the work required is clearly
understood. Work need not be broken down further than that. Work
breakdown dictionary includes additional details that help define the
tasks. Time and effort estimates can be accurate when everything about
the work and dependencies is known.
When the activity effort and resource estimates are known getting the
work done depends on how the tasks are sequenced. Dependencies with
other activities have to be clearly known. The basic sequence is
determined by what activities should be carried out first and what should
follow. Unconnected tasks/activities can be sequenced in parallel to
reduce project time. Most optimized sequencing would give you the best
possible time needed given the resources allocation is ideal and there are
no constraints there. Scheduling is done from activities list prepared
after WBS has been finalized.
23. How is the “activity time” estimates done?
When activity scheduling is done there will be activities whose start time
and/or end times are not critical. It may be possible, due to
dependencies, to start a task later than the date on the schedule,
similarly, an activity could be completed later as there is no other
activity waiting for its completion. These time pads are called floats.
There is always a path from start to finish, which does not have any
floats. Not only all the activities in the path must be carried out in
planned time, but also there cannot be any delays. Any delays will
directly reflect on project completion time. This chain of activities or the
path from start to finish is known as the critical path.
27. What are the ways a project time schedule can be compressed?
At every monitoring point the planned value (PV), earned value (EV)
and actual cost (AC) are monitored. PMB, performance measurement
baseline is the aggregation of all planned values. Variances from
baselines are determined and Schedule Variance (SV) and cost variance
(CV) are calculated. If earned value is equal to the planned value then
the project is achieving what it is supposed to. If there is schedule or cost
variance is significant, appropriate action needs to be taken to correct the
slips. Estimate at completion (EAC) is estimated and compared with the
budget at completion. In case there is a slip, the cost consequences will
be known.
GM or the goals, questions and metrics is the method used. Goals are
set, questions are asked about what improvements can be made and
metrics (measurements that tell us something about the process) are
carried out
34. What are the important aspects of an HR plan for the project
team?
Acquiring the team, forming the team, assigning roles & responsibilities,
appraisal policies, rewards & recognition are the areas where clear cut
policies should exist and be well known to team members.
37. What are the types of risks you may encounter in a project?
These could be categorized as technical, external,
internal/organizational, etc. Depending on the type of projects other
categories may have to be considered.
39. Are there any positive aspects of the risk identification process?
When assessing risks the project team also tries to determine the
probability of the risk actually happening and the impact it will have on
the project when it does.
The seller must supply the contracted items at a fixed price determined
at the time of contract.
In this type of contracts, the contractor gets paid for time used on the
project and expenses for the material used and other agreed upon
expenses.
To keep monitoring and ensure that all open procurement contracts are
progressing as expected.
It is the team that executes the project. Thus ensuring you has right
people is essential. Developing the team is important as whatever gaps
are there need to be bridged. Improving self and the team knowledge is
equivalent to the continuous improvement of A process and should
impact the quality of the project outcome.