August 8th 2020 , PMP Clarification @ 7:00 PM IST

One spot to pull in the announcement of exclusive webinar and to post further doubts and queries
srishti
Posts: 15
Joined: Tue Feb 04, 2020 6:39 am

August 8th 2020 , PMP Clarification @ 7:00 PM IST

Fri Jul 31, 2020 3:09 pm

Use this thread to post your queries, we will discuss in the Webinar.

Day/Date:- Sat/August 8th, 2020

Time:- 7:00 - 8:00 PM IST + 5:30 GMT

This session will be taken by Manish Panchmatia

Get Registered: https://us02web.zoom.us/meeting/registe ... gzU6i9zbDN

Regards
Srishti
Last edited by srishti on Tue Aug 04, 2020 7:30 am, edited 1 time in total.
sushant.ban.26
Posts: 3
Joined: Thu Nov 21, 2019 2:27 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Mon Aug 03, 2020 4:21 pm

Kindly explain difference between different types of meetings conducted during project.
(a) Daily stand up meetings
(b) Project kick off meeting
(c) Retrospective meetings
(d) Release planning meeting
sushant.ban.26
Posts: 3
Joined: Thu Nov 21, 2019 2:27 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Mon Aug 03, 2020 4:25 pm

A project manager (PM) is handing a high value and a high-risk project in a globally recognized MNC. There are few high-value critical parts whose costs are not stable due to market instabilities yet required to be outsourced immediately. After placement of contract, the PM receives intermediate invoices from the vendor as per agreed schedule. Upon reviewing the invoices, PM realizes that the cost escalations are too high and will eventually impact the cost baseline. What should the project manager do next?

(a) Cancel the contract and change the contract type to fixed price with Economic Price Adjustment Type.

(b) Report to the senior management

(c) Raise a change request for approval

(d) Do analysis if cost escalations are valid

Actually i have selected (d) as a correct choice but correct option was (c). I feel before raising change request we need to do analysis first.
aneeshashokt
Posts: 14
Joined: Sat Feb 15, 2020 1:15 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Thu Aug 06, 2020 4:11 pm

Hi Manish,

Could you please explain the below question & Answer?

A PMP mock exam question:

A PM is developing the schedule management plan for a data center migration project. The Project sponson asks for a schedule that plans all tasks ASAP. The PM is presented with possible network paths that will not violate schedule constraints. What leads and lags relationship should the PM select?

A. ES equals the LS in all activities
B. ES is smaller than the LS in some activities
C. ES equals the LS in some activities
D. ES is smaller than LS in all activities
aneeshashokt
Posts: 14
Joined: Sat Feb 15, 2020 1:15 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Thu Aug 06, 2020 4:13 pm

Hi Manish,

Could you please explain WBS 100% rule
aneeshashokt
Posts: 14
Joined: Sat Feb 15, 2020 1:15 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Thu Aug 06, 2020 4:16 pm

Q. While reviewing the quality of deliverables with the team, the PM determines that several quality issues could have been avoided by using a simple checklist. The checklist is then implemented for future deliverables;

What did the PM do in this situation?

A. Used preventive action
B. Used corrective action
C. Facilitated a retrospective'
D. Conducted a lessons learned meeting
sumitgoyal27
Participant
Participant
Posts: 63
Joined: Wed Jun 24, 2020 2:31 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Sat Aug 08, 2020 11:33 am

Can you please explain the difference between Risk register and risk report in detail and how they are updated in Perform Qualitative analysis, Perform Quantitative analysis, Plan risk response, Implement risk response and monitor risks?
sumitgoyal27
Participant
Participant
Posts: 63
Joined: Wed Jun 24, 2020 2:31 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Sat Aug 08, 2020 11:36 am

Can you please explain why quantitative risk Analysis is performed with example?? After Qualitative risk analysis we already have Probability and impact assessment, then what value does it brings to the process.
vedhagiri
Posts: 1
Joined: Sun May 31, 2020 6:35 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Sat Aug 08, 2020 12:12 pm

Hi Manish,
What is the difference between the issue log and Risk register?
Example: Shortage in the resources, not deployed as per plan. We should use the issue log or risk register??
sumitgoyal27
Participant
Participant
Posts: 63
Joined: Wed Jun 24, 2020 2:31 pm

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Sat Aug 08, 2020 12:22 pm

You are managing a project which is near completion. In a team meeting, you are discussing project issues and realized that you and your project team missed one risk at prior phases of the project, which if occur now can adversely impact the project’s completion. As a project manager, what step do you take FIRST?

Quantitative analysis of the risk

Qualitative analysis of the risk

Start with risk mitigation to reduce the impact

Inform stakeholders about the risk and its potential impact.

Can you please explain this question. The correct answer is B however I marked D.
indrani_deka
Posts: 6
Joined: Tue Aug 04, 2020 10:18 am

Re: August 8th 2020 , PMP Clarification @ 7:00 PM IST

Tue Aug 11, 2020 6:13 am

Here is the link of clarification session for 08-08-2020
https://vimeo.com/446463143/4429071ac2

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