Thursday, May 19, 2022

40 NEW PMI-CAPM Free Questions and Answers (Part - 1)

 

The Certified Associate in Project Management (CAPM®) exam from PMI is solely based on the PMBOK® Guide, 6th edition. The exam blueprint, however, is based on the Exam Content Outline (ECO) for the CAPM exam. The PMBOK guide covers a vast area in project management and includes a good number of Agile concepts and practices. In this post series we will have 40 PMI-CAPM questions.

These questions are referenced from CAPM Live Lessons - Guaranteed PassCAPM 23 Contact Hours and the book, I Want To Be A CAPM. Do note that these questions are not directly from the CAPM exam, but based on my understanding and feedback from successful CAPMs.

To answer these questions, you need to have:

  • Good grasp on Knowledge Areas of the PMBOK Guide, 6th edition. 
  • Good grasp of the introductory areas of the PMBOK guide such as Project Life Cycles, Project Environment and Role of Project Manager. 
  • Sound understaning of the Agile practices as per the PMBOK guide.
  • Understanding the content of the ECO. The ECO is a small, barebone document listing the possible (not all) topics to be covered for the CAPM exam.

This is the first of the series with 20 questions. The next part has another set of 20 questions.

I hope you enjoy doing these questions and it helps in your preparation for the PMI-CAPM exam.


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Question – 1: Networking, used as a tool and technique in Manage Communications process, can do all of the followings, EXCEPT: 

A Gives access to information organization
B Influences stakeholders' actions
C Increases stakeholders' support
D Removes barriers to communication


Question – 2: As you implement the agreed upon risk responses created for the risks, all of these can be done, OTHER THAN: 

A Address overall project risk exposure
B Maximize individual opportunities
C Minimize individual threats
D Evaluate the effectiveness of risk responses.

Question – 3: You resolved a conflict between two members, but again they got into fighting. What conflict resolution approach should help you BEST?

A Collaborate.
B Smooth. 
C Compromise. 
D Direct.

Question – 4: For stakeholders with high power, but low interest, you should: 

A Keep them satisfied.
B Manage them closely. 
C Monitor them continuously. 
D Keep them informed.

Question – 5: For successful communication, you need to FIRST:

A Develop a communication strategy.
B Find out the various communication dimensions to use in the project.
C Determine the activities and artifacts of communications.  
D Develop a communication management plan. 

Question – 6: You are giving certificates of appreciation and also corporate apparel with a team logo to your team members. These can be taken from:

A Enterprise Environmental Factors 
B Organizational Process Assets 
C Project management information system 
D Is to be purchased from the outside

Question – 7: The procurement decisions are decided and documented in _______________ process.

A Plan Procurement Management 
B Conduct Procurements 
C Control Procurements 
D Plan Project Management

Question – 8: You want to find out the reasons for accidents on a construction project. Which one of the following would be BEST to use?

A Check sheet.
B Why-why diagram.
C Pareto diagram.
D Scatter diagram. 

Question – 9: A ceiling price is MOST LIKELY to be set in which contract?

A Fixed price incentive fee (FPIF) 
B Fixed price with economic price adjustments (FPEPA) 
C Cost plus fixed fee (CPFF) 
D Time and material (T&M)

Question – 10: A self-organizing team functions with an absence of centralized control. Such teams are BEST supported by:

A Generalizing specialists. 
B Critical resources at the right time. 
C Adaptive team members. 
D Emotionally intelligent team members.

Question – 11: In an agile environment, communications artifacts are put in a transparent manner. These are known as: 

A Checkpoints 
B Artifacts 
C Information Radiators 
D Information Reports

Question – 12: The period of time that may elapse after a risk has occurred before a risk's impact is discovered, is known as:

A Risk Urgency. 
B Risk Proximity.
C Risk Detectability. 
D Risk Dormancy.

Question – 13: Stakeholder Engagement Assessment Matrix is used in which process(es) of Communications Management KA? 

A Plan Communications Management
B Manage Communication
C Monitor Communications
D Both Plan Communications Management or Monitor Communications


Question – 14: All of the followings are part of Risk Report, EXCEPT:

A Assessment of overall project risk exposure. 
B Detailed probabilistic analysis of the project.
C Prioritized list of overall project risks. 
D Recommended risk responses.

Question – 15: You want to evaluate if the quality objectives have been achieved. For this purpose, you should use:

A Checklists
B Requirement Traceability Matrix
C Test and Evaluation documents
D Inspection

Question – 16: Actual assignment of resources - team and/or physical - happens in which process group?

A Initiating
B Planning
C Executing
D Monitoring and Controlling

Question – 17: Control quality process is about ___________________ deliverables, whereas Validate Scope is about ________________ of deliverables.

A Verification, Implementation
B Testing, Inspection
C Completeness, Correctness
D Correctness, Acceptance

Question – 18: The responsibility for the Organizational System lies with the:

A Project Manager
B Organizational Management
C Organization's PMO
D Stakeholders, including Senior Management

Question – 19: To find out the seller processes, procedures, or products that are out of compliance, you can use:

A Quality reports 
B Risk Report
C Audit Report
D Performance Report

Question – 20: At the end of the day, leadership and management are ULTIMATELY about:

A Ability to get things done 
B Ability to deal with politics
C Understanding when to be flexible with tactical priorities
D Selecting the right kind of power to influence and negotiate with others 


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The question set is available in the embedded document below. The answers are also part of this document.

For all answers, subscribe to this site and send a mail (from your GMail id) to managementyogi@gmail.com.



CAPM Live Lessons - Guaranteed Pass:

CAPM 23 Contact Hours Course:

Tuesday, May 17, 2022

Updated New Course: CAPM Live Lessons – Guaranteed Pass or Your Money Back

 


 

I am pleased to announce the fully revamped new course for Certified Associate in Project Management (CAPM®):

CAPM Live Lessons – Guaranteed Pass or Your Money Back


This is a complete video course and comes with a full money-back guarantee linked to you passing the PMI-CAPM exam. It also comes packaged with the mandatory 23 Contact Hours course completion certificate - one of the prerequisites of the exam. 

The first version of the video course was released in 2019. Since then, it has enabled many successful PMI-CAPMs and PMI-PMPs. This course is based on the Project Management Body of Knowledge (PMBOK®) Guide, 6th edition and the Examination Content Outline (ECO) for the Certified Associate in Project Management (CAPM).

Note: The CAPM exam is not as difficult as the PMP exam, which has multiple reference guides and books. The CAPM exam questions are easy to answer, if you have gone through the right content and followed the right material. In fact, if you are struggling to be a PMP due to time constraint or other factors, I’d strongly suggest that you go for the CAPM certification.

Now, coming to the course update, the CAPM Live Lessons course has seen updates based on the CAPM exam and related changes. In fact, with these updates, the course has been completely revamped and it’s as good as a new one.

What’s New in the Course – CAPM Live Lessons?

Below are the highlights for the updates to this course. 

1. NEW CAPM Lessons comes with the Mandatory 23 Contact Hours

The CAPM Live Lessons course now comes packaged with the CAPM 23 Contact Hours, one of the mandatory prerequisites. This course has an end-course assessment and post the assessment, you will be eligible to get the CAPM 23 Contact Hours Course Completion Certificate from Management Yogi.

One of the biggest misconceptions about PMI-CAPM’s 23 Contact Hours program is this: You have to mandatorily get training from an Authorized Training Partner (A.T.P) or Registered Education Provider (R.E.P). It's not true.

In fact, the Handbook for PMI-CAPM exam has long noted this (a direct snippet)

Reference: PMI-CAPM Certification Handbook, Section: "CAPM Certification Application and Payment", Page 9 (source: pmi.org)

PMI-CAPM Handbook – Link to Check   

As you can clearly see, only ATP or REP can provide 23 contact hours is NOT true. With this course, you will now have 23 Contact Hours.

2. Completely NEW Set of Welcome Videos and NEW Content for CAPM Exam

The CAPM exam has changed a lot in the last few years and also as noted in the previous point, this course now comes packaged with CAPM 23 Contact Hours.  Considering it, a fresh set of Welcome videos have been added.

As the CAPM exam has changed, a number of videos such as the certification process, certification renewal cycle, exam question styles, the continuing certification requirements, ability to pay in various currencies, among others are also changed.

These are part of the “Welcome” lesson. You can see the course index below.

3. COMPLETE Addition of Agile Concepts

Though the CAPM-ECO informs on few Agile concepts in certain knowledge areas (KAs), Agile concepts are available for all the 10 KAs, and in project life cycles. Now, the course has exhaustive Agile content.

The various life cycles used in a project now have more explanations. In addition, a brief on Agile Manifesto has been explained. 

4. NEW Agile related questions for Lesson-End Questions

For every knowledge area, a number of Agile related questions are added. Remember, though the ECO informs on a few Agile concepts, the PMBOK guide has Agile content for the knowledge areas.

5. NEW Agile related questions for Full-Length Questions

There are four full length question-sets in this Guaranteed CAPM video course, each having 150 questions and answers. Now, these question sets are revamped to include more Agile questions.

This will available under “Full Length Question Sets”.

6. NEW Guide Covering Key Areas of Agile Manifesto

The Agile Manifesto has 4 values and 12 principles. For your CAPM exam, PMBOK guide is only guide to refer. Nevertheless, you need to have a brief understanding of the Agile values and principles. 

This falls under “Lesson – 16: Final Talk” of this course.

Note: The Agile Guide for the course can be downloaded.

7. NEW Process and ITTO Exercises for all the KAs.

The PMBOK has a number of processes, which in turn have a number of inputs, tools and techniques, and outputs (ITTOs). You need to be proficient in these, which are explicitly listed in the CAPM-ECO. 

For this purse, a new set of videos, with 379 questions are explained in videos. This is applicable for all the 10 knowledge areas (KAs). You can see them in the index below.

8. NEW Smart Cards for all lessons.

A set of smart cards are also added for every lesson. Smart cards are small, but tricky questions presented as a pair of cards - questions and answers. A number of smart cards (total 365) are now part of this course.

9. NEW XLS Sheet (spreadsheet) with the 5 Process Groups (PG), 10 Knowledge Areas (KA) and 49 Processes

The sole reference guide for the CAPM is the PMBOK guide, 6th edition. This guide will continue to be effective this year for many more months. Now, in the CAPM exam you can face a number of direct questions related to the processes, inputs, tools and techniques, outputs across the 5 PGs and 10 KAs. Hence, I’ve made an XLS sheet available, which will help you immensely. 

The XLS sheet is also going to be useful as you do the process and ITTO exercises.

Note: The XLS sheet can be downloaded.

10. UPDATED Document on How to Fill the CAPM Application and the Formula Gold Cards

The application process for your CAPM exam has been changed and also has been made easier. This now includes the latest changes as per the PMI-CAPM handbook.

Formulas needed for your CAPM are not as exhaustive as the PMP exam. However, I’ve added quite a few into the formula gold cards.

This falls under “Lesson – 16: Final Talk” of this course.

Note: The formula gold cards of the course can be downloaded.

Top Highlights – CAPM Live Lessons

  • Total Video Duration: 35 hours 
  • Number of Videos: 562
  • Number of Lessons: 16
  • Number of Questions: 2348
  • Number of Full-Length Question Sets: 4 (total = 600 Questions) 
  • Lesson-end Questions: 70 to 80 questions (average)
  • Lesson-end Smart Cards: 365
  • Process and ITTO Video Exercises: 379
  • Tips: 100s of them

High–Level Course Breakdown

  • Welcome (9 videos): 18m 07s [18 minutes 07 seconds]
  • Lesson 1 – About PMI-CAPM Exam (16 videos): 55m 37s 
  • Lesson 2 – Introduction (45 videos): 3h 01m 09s
  • Lesson 3 – Project Environment (24 videos): 1h 44m 00s
  • Lesson 4 – The Role of PM (24 videos): 1h 35m 38s
  • Lesson 5 – Project Integration Management (62 videos): 3h 53m 44s 
  • Lesson 6 – Project Scope Management (50 videos): 2h 35m 01s
  • Lesson 7 – Project Schedule Management (60 videos): 3h 24m 08s
  • Lesson 8 – Project Cost Management (35 videos): 2h 05m 10s
  • Lesson 9 – Project Quality Management (33 videos): 2h 21m 02s
  • Lesson 10 – Project Resource Management (49 videos): 3h 09m 18s
  • Lesson 11 – Project Communications Management (30 videos): 2h 00m 27s
  • Lesson 12 – Project Risk Management (52 videos): 3h 22m 15s
  • Lesson 13 – Project Procurement Management (34 videos): 2h 04m 27s
  • Lesson 14 – Project Stakeholder Management (37 videos): 2h 11m 23s
  • Lesson 15 – Four (4) Full Length Question and Answer Sets
  • Lesson 16 – Final Talk (2 video): 6m 30s

The details on it are also available also available:

https://managementyogi.com/p/videos.html

What is CAPM Guaranteed Pass Program with Full Money-Back Guarantee?

There are no little tricks or useless terms and conditions and notes “** conditions apply”. Nowadays, some providers say "guaranteed pass", but no terms and conditions. However, as go a bit deeper, there will be large number of them!

The premise is simple – Give the exam. Two attempts. You pass and you are a PMI-CAPM. You win. In case you couldn’t clear the exam, your full money will be with you. You still win.

You will also have the 23 contact hours certificate free of cost. The CAPM Live Lessons course, as noted in previous top features, provides this course completion certificate. This is another WIN for you.

You can watch more on money back guarantee in this video (Duration: 2m 15s).  It also informs on the goal (one), and motto (one). 


Note: You can also evaluate the videos before paying any money. Up-to 25 videos will be available for your evaluation, even before your purchase. 

Applicability and Validity

  • Guide and Reference: PMBOK, 6th edition and CAPM-ECO
  • Formal project management experience: Not required for CAPM
  • Valid Date for the Guarantee: 6 months or 1 year from the date of purchase
  • Price: 
    $449 USD / Rs 30,549 (6 months access)
    $659 USD / Rs 45,949 (1 year access)
  • Payment Link:  paypal.me/managementyogi
    (Enter amount, Use Email ndsatya@gmail.com; Invoice will be generated after payment)
    OR, you can pay via Bank Transfer or Payment. For this, please send a mail to managementyogi@gmail.com to get account the details.
  • Number of attempts: 2 
  • Available since: May, 2022
  • Primary Format: Video
  • Status: Available
    (accessible via laptop/desktop)

Detailed Course Breakdown   

The detailed course breakdown of the course is shown below (Embedded Document). It details hours of learning, number of videos, smart cards, practice questions, process and ITTO exercises and other artifacts of this course. You can scroll to see the content.  


You can also see it in a larger screen by clicking the arrow on the link below:

Course Index – CAPM Live Lessons – Full Money Back Guarantee 

As far as I am aware, this is the only CAPM Exam Prep Course in the world, which comes with a full money-back guarantee linked to you passing the exam.  And there are no tricks involved. 

Go through the CAPM Live Lessons course, give the CAPM exam, be a CAPM. It's not very difficult with the right course.

For detailed features and benefits, refer the below link:

https://www.managementyogi.com/p/pmi-capm-live-lessons.html

If you want to buy or have any other questions, please send an email to managementyogi@gmail.com.


CAPM Live Lessons - Guaranteed Pass:

CAPM 23 Contact Hours Course:

Sunday, May 15, 2022

New Course – CAPM 23 Contact Hours Online

 



I am pleased to announce the availability of a new course for aspiring Certified Associates in Project Management (CAPM®):  

CAPM 23 Contact Hours Online Course

This is one of its kind courses in the world. This course comes with a FULL money back guarantee. 

I believe the CAPM certification is achievable for any genuinely preparing candidate. The questions are usually direct. It mainly checks your understanding of the PMBOK® Guide, 6th edition. 

This course is fully compliant with the PMBOK Guide 6th edition and the Examination Content Outline (ECO) for CAPM exam. It’s a complete video course.

CAPM certification is not a poor cousin for the other known certification of Project Management Professional (PMP®). Both these certifications are offered by the Project Management Institute (PMI®). Following are the few advantages of CAPM certification:

  • Well recognized in various industry verticals.
  • You will be recognized and respected by PMPs.
  • Much easier to prepare and clear compared to the PMP exam.
  • Less costly and less time consuming with the right material.
  • No project management experience needed to appear for the exam.

The PMBOK guide 6th edition is a big one and also complicated.  In addition, the CAPM exam’s exam content outline (ECO) also informs about Agile aspects of project management. Many times, as I’ve seen professionals appear for the CAPM exam, without any project management experience as the CAPM exam has one such option. 

Hence, the entire course is presented and explained in very simple language. You need not have any project management experience to go through and complete this course. As the entire course is in video format, you can watch as many times as you need till you get your concepts clarified.


How to Claim CAPM 23 Contact Hours, when not an ATP or REP? 

One of the biggest misconceptions about PMI-CAPM’s 23 Contact Hours program is this: You have to mandatorily get training from an Authorized Training Partner (A.T.P) or Registered Education Provider (R.E.P). Nothing can be further from the truth. 

In fact, the Handbook for PMI-CAPM exam has long noted this (a direct snippet)


Reference: PMI-CAPM Certification Handbook, Section: "CAPM Certification Application and Payment", Page 9 (source: pmi.org)

PMI-CAPM Handbook – Link to Check   

As you can clearly see, only ATP or REP can provide 23-contact hours is NOT true. CAPM related Education Requirements can be provided by training companies or consultants, distance e-Learning companies, among others. This has been the case from the very beginning.

But many mislead on it, which is purely a marketing tactic. Don’t fall for this false and misleading information. Always go with the course, which gives you the highest value and highest possible chance of success, not the ones with highest possible marketing. 

With this course, you will meet the 23 contact hours mandatory pre-requisite for your CAPM examination. This course comes with an on-line end course assessment with 30 questions, which is timed and results will be immediately shown. 


Top Highlights: CAPM 23 Contact Hours

  1. Total Video Duration: 25+ hours 
  2. Number of Videos: 449
  3. Number of Lessons: 14 (+2)
  4. Number of Questions: 500+
  5. Number of Full-Length Question Sets: 2 (total = 300 Questions) 
  6. Practice Questions: 20 questions (average)
  7. Tips and Tricks: Many throughout the lessons, specially designed for CAPM exam

High Level Course Breakdown

  • Welcome (6 videos): 12m 06s [12 minutes 06 seconds]
  • Lesson 1 – About PMI-CAPM Exam (14 videos): 37m 40s
  • Lesson 2 – Introduction (32 videos): 2h 13m 06s
  • Lesson 3 – Project Environment (15 videos): 1h 08m 25s
  • Lesson 4 – The Role of Project Manager (17 videos): 1h 06m 40s
  • Lesson 5 – Project Integration Management (48 videos): 2h 51m 09s 
  • Lesson 6 – Project Scope Management (39 videos): 1h 52m 01s
  • Lesson 7 – Project Schedule Management (50 videos): 2h 32m 37s
  • Lesson 8 – Project Cost Management (29 videos): 1h 33m 53s
  • Lesson 9 – Project Quality Management (27 videos): 1h 47m 42s
  • Lesson 10 – Project Resource Management (44 videos): 2h 39m 55s
  • Lesson 11 – Project Communications Management (25 videos): 1h 35m 27s
  • Lesson 12 – Project Risk Management (47 videos): 2h 52m 37s
  • Lesson 13 – Project Procurement Management (25 videos): 1h 21m 16s
  • Lesson 14 – Project Stakeholder Management (29 videos): 1h 36m 11s
  • Lesson 15 – Two (2) CAPM Full-Length Question and Answer Sets
  • Lesson 16 – Final Talk - CAPM 23 Contact Hours (2 videos): 6m 30s

The details on it are also available also available:

https://managementyogi.com/p/videos.html


What is CAPM 23 Contact Hours Full Money-Back Program?

There are no little tricks, such as – “terms and conditions apply”, “** conditions apply” as you would have seen in many places. What you see and read here is what you get.

The premise is simple. Go through the complete course for 15 days. 100% video content of this course will be available to you, along with all the questions. 
If you don’t like the course, I’ll refund your full money. 

You can watch more on money back guarantee in the below video [Duration: 2m: 07s].  


Note: You can also evaluate the videos before paying any money. A number of videos will be available for your evaluation, even before your purchase. 

Applicability and Validity

  • CAPM Latest Exam  PMBOK Guide, 6th edition and ECO for CAPM Exam
  • Course Duration – 6th months or 1 year from the date of purchase
  • Price – 
    $ 189 / Rs 12,949 (for 6 months)
    $ 279 / Rs 19,549 (for 1 year)
  • Payment Link – paypal.me/managementyogi
    (Login, Send your payment to paypal account of ndsatya@gmail.com, Enter the amount; Invoice will be generated after payment)
    OR, you can pay via Bank Transfer or Payment. For this, please send a mail to managementyogi@gmail.com to get account the details.
  • Available since – May, 2022
  • Primary Format –  Video 
  • Course Extension –  As per your need.
    (Price calculation will be pro-rata)
  • Status – Available
    (accessible via laptop/desktop)

Detailed Course Breakdown

The detailed course breakdown of the course is shown below (Embedded Document). It details hours of learning, number of videos, practice questions and other artifacts of this course. You can scroll to see the content.  


You can also see it in a larger screen by clicking the arrow on the link below:

Course Index – CAPM 23 Contact Hours – Full Money Back Guarantee

For detailed features and benefits, refer the below link:

https://www.managementyogi.com/p/capm-23-contact-hours-online-course.html

If you want to buy or have any other questions, please send an email to managementyogi@gmail.com.   


CAPM 23 Contact Hours Course:

Thursday, May 12, 2022

Updated Book: What’s New in the Book–I Want To Be A CAPM?


The Certifified Associate in Project Management (CAPM®) exam prep book, I Want To Be A CAPM, First Edition has been available since 2019 and has enabled many successful PMI-CAPMs and PMI-PMPs. This book is based on the Project Management Body of Knowledge (PMBOK®) Guide, 6th edition. Aspiring PMPs have also used the content of the book to have an easier understanding of the PMBOK guide. 

Like all other books of mine, this edition of the book has gone through updates based on various exam related changes.

Why the Updates?

These updates primarily driven by these factors:

  • Availability or updates to existing standards: PMBOK guide is the sole reference guide for the CAPM® exam. And it has seen certain updates in previous years. However, do note that the exam blueprint will be based on the Exam Content Outline (ECO).
  • New ways to take the exam: For example, due to COVID-19 issue, exams now have an online option, with proctors. Now, the CAPM exam can also be taken online.
  • Feedback from exam takers: Some successful CAPMs (also PMPs, ACPs or RMPs) write their exam experiences and inform on new types of questions. 
  • Updates on advanced or complex areas: For example, mathematical questions in the CAPM exam are simple, but to understand them it takes time. 
  • Updates on Videos: Many times, I add additional videos with exercises and solutions so that exam takers get more practice and feel more confident. 

With this background, there have been continuous and frequent updates to the PMI-CAPM Exam Prep: I Want To Be A CAPM.


What’s New in the Book – I Want To Be A CAPM?

The book, I Want To Be A CAPM, as noted earlier has seen a number of updates, after months of effort. These are highlights for the current updates to the book as well as the book index.

Below are the update highlights.

1. NEW Document and Videos for Online CAPM Exam

The CAPM exam has gone online and with that a new document has been added, which illustrates how to take the exam step-by-step in the online proctored mode (OPT). The document has been divided into two sections:

  • Steps for traditional mode of the exam.
  • Steps for online proctored mode of the exam.

With it, you will have a much better understanding on how to proceed with the CAPM exam in proctored mode. Do note that it’s different from the PMP exam, e.g., there is no break available in this exam.

2. COMPLETE Addition of Agile Concepts

Though the CAPM Exam Content Outline (ECO) informs on few Agile concepts in certain knowledge areas (KAs), Agile concepts are available for all the 10 KAs. In addition, Agile concepts permeate throughout the PMBOK guide. Now, this  book has exhaustive Agile content as needed for the exam.

Also, the various life cycles used in a project now have more explanations. 

3. NEW Formulas in Formula Gold Cards

Formulas needed for your CAPM are not as exhaustive as the PMP exam. However, I’ve added quite a few into the formula gold cards.

Note: The formula gold cards of the book can be downloaded.

This falls under the chapter of "How To Be A PMI-CAPM" in the book.

4. NEW Agile related questions for Chapter End Questions

For every knowledge area (KA), a number of Agile related questions are added. Remember, though the ECO informs on a few Agile concepts, the PMBOK guide has Agile content for the knowledge areas. 

5. NEW Agile related questions for Full-Length Question Sets

There are two full length question-sets in this book, each having 150 questions and answers. Now, these question sets are revamped to include more Agile questions.

These question sets are available under “Full Length Question Sets”.

6. NEW Guide Covering the Agile Manifesto

The Agile Manifesto has 4 values and 12 principles. For your CAPM exam, the PMBOK guide is the only reference guide. However, it doesn’t include the Agile values and principles. Regardless, to understand Agile, as an aspiring CAPM need to have a minimal understanding of the manifesto. In this brief guide, you will know what these values and principles are, what they stand for, and in what context they are used.

7. NEW Chapter on How to Fill the CAPM Application

The application process for your CAPM exam has been changed and also has been made easier. A completely new chapter has been added on to fill your application with a number of guidelines. 

8. UPDATED Content for CAPM Exam 

The CAPM exam has gone through changes in the last couple of years. For example, earlier your CAPM credential was valid for 5 years without any professional development units (PDU) requirements. Now, it’s valid for 3 years and requires 15 PDUs to maintain.

You also have changes with respect to the exam process, inclusion of online proctored tests, changes in pricing structure based on countries, among others. All these new changes are now reflected in the updated edition. 

9. NEW Section for CAPM Certification Maintenance

A completely revamped section for CAPM certification maintenance has been added. As noted earlier, now you have a requirement of 15 PDUs in three years to maintain your certification. These PDUs are divided into various categories with maximum and minimum values. 

This new section informs in detail on how to maintain your hard-earned CAPM certification. 

10. UPDATES to Book’s Index File

The index file is important to know the content of the book. As the CAPM book gets updated, the index file also gets updated with clear highlighting for the NEW, as well as the UPDATED content. You will also know if any item has been removed. 

How Will I Know about the Updates?

I face this question frequently from people who want to purchase this book. I understand this concern. The below steps are followed for every new update.

  • All changes will be clearly communicated to you via E-Mail. 
  • Inside the book, the new ones will be highlighted as *** NEW ***, and the updates ones will be *** UPDATED ***Green color coding will be there for these changes.
  • All the previous updated mails are part of the book, so that you are clearly aware of the new changes that have happened. 
  • The index file of the book is also updated, because that gives you a quick view on the new/updated content. 
  • For the new videos, the videos are clearly noted as NEW, so that you are immediately aware of it. 
  • For the new/updated documents, the documents are cleared and noted as NEW/UPDATED.
  • A number of tips and revision reminders are also added along the content. They are also clearly highlighted.
  • For any clarification or questions on these updates, you can ask your questions. You will definitely get a response. 
  • All the new/updated content will be FREE of cost to you.

Updated Book Index

The complete index of the newly updated CAPM book is shown below (Embedded Document). You can scroll to see the content. The overall content of the book is available at: https://www.managementyogi.com/p/books.html




Conclusion

The world of development in project management is constantly changing, evolving and bringing in new practices, principles and knowledge. The PMI-CAPM also changes with the reference guide and the ECO. Do note that the release trains for the ECO and the reference PMBOK guide, are different. Don’t mix these two. As the content, pattern or type of questions change, the book: I Want To Be A CAPM also changes. 

You can check the overall details of the book (number of pages, chapters, price, access information, among others) in the below link. It's the 4th book in the list.

https://www.managementyogi.com/p/books.html

As far as I am aware, this is the only CAPM Exam Prep book in the world, which sees continuous changes and updates. I do believe that it benefits all the readers of the book. 


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Sunday, May 08, 2022

Earned Value Management (EVM) in Agile Development


In this article, we are going to explore Earned Value Management (EVM), a widely used traditional management technique, but we are going to look at it within the context of an Agile domain.

Let’s consider an example scenario. A product manager, who works for a large aircraft manufacturing organization in the United States, follows a hybrid model of development and, with his team, releases a new version of aircraft handling software every couple of weeks. At the start of each iteration, he may be unsure about the applicability of earned value analysis, measurement, and management within Agile. His main questions may be:

  • How can we apply EVM while following an Agile approach? Is it natural?
  • With frequent scope changes, how does one determine what to measure against?
  • Scope change is also frequent on the iteration level! How can we incorporate EVM metrics in such cases?

To understand EVM, one needs to understand the concept of baseline, first and foremost. In EVM terminology, baseline is further defined as the performance measurement baseline (PMB). Let’s first define PMB, because, as I’ve seen, the lack of clarity regarding EVM is typically due to lack of PMB understanding. 

Performance Measurement Baseline (PMB)

The PMB is a virtual (not physical) baseline integrating scope, schedule, and cost baselines. In other words, PMB is the time-phased budget of authorized work for a project or program.

EVM is fundamentally based on this baseline–irrespective of chosen life cycle, be it predictive (Traditional), adaptive (Agile), or any other. It doesn’t matter how many iterations (or sprints, if in Scrum) you have or how frequently the scope changes. For EVM, it matters where and how you are setting your baseline. We will see shortly where the baseline is an Agile context. As EVM integrates scope, schedule, and cost, it’s quite a powerful technique. This is shown in the below figure.

 

Another issue occurs when management practitioners incorrectly interpret earned value as being business value. Earned value is not business value, rather it’s the value that you have earned in terms of money after completing the work. Hence, it’s actually a measure of work performance or performance against the set baseline or PMB.

With these fundamentals in mind, let’s now consider the foundational metrics in EVM. 

Foundational Metrics in EVM

The foundational metrics in traditional EVM are noted in the below table. I call them the foundational (or basic) metrics, because, based on these metrics, current and future performance metrics are derived.

As you go through the metrics in EVM, one key thing is to remember is this: everything is in terms of money. The budget, of course, will be in terms of money, and the work planned and work performed or executed, will also be in terms of money in this case.


We will look at the usage of these foundational metrics for Agile development shortly. Note that with these foundational metrics in place, we derive performance metrics of EVM.  

Current Performance Metrics in EVM

The current performance metrics used to calculate EVM are noted in the below table for a Traditional environment. I call these metrics current performance metrics, because the measurement happens on the status date, data date, or record date. The good news is, that these foundational metrics remain the same for Agile projects and/or programs.  Keep reading, as we are going to reuse these performance metrics in the next section.

It’s pertinent to note the behavior of SV and CV. If they are positive or negative, then the project or program is ahead of or behind schedule and cost, respectively. Similarly, if SPI and CPI are above or below 1.0, then the project or program is ahead of or behind schedule and cost, respectively. 

Using EVM in Agile Approaches

When using EVM in an Agile approach or environment, we circle back to the concept of baseline. In Agile projects, the baseline at the release level, not at an iteration level must be considered.

You may be wondering why. In Agile approaches, work is considered “done” at the end of each iteration (or sprint). While it’s true that story points are used to relatively estimate work items being taken-up, work is not considered to be fully “done” until the end of the iteration. If an item is not done, then it’s usually pushed into the next iteration. Hence, measurement during an iteration adds no value. This is because the work can’t be complete/done (or incomplete/not-done) mid- iteration.

If a story is complete, only then is it considered “done.” If a story is partially complete, (say only transition testing is remaining, then it’s not considered to be “done” at all). As you can see, it’s futile to have a baseline at an iteration level.

Are you wondering now how to calculate the performance measurement baseline (PMB) at a release level?

Simply add up the number of story points that you have planned for the release. While the PMB is at the level of the release, we do the measurement at the end of every iteration. In other words, our status date or data date is set for the end of the iteration. This is because, at the end of the iteration, we know the amount of work completed or “done.” And, this work counts towards velocity. Velocity, as explained in this article, also can inform the number of iterations in a release. You can decide to have measurement at the end of any iteration – iteration 1, iteration 2, and/or iteration-N.

A (product) backlog-based representation with earned value related calculations is depicted in the figure below.


As shown, the EV, PV, and AC values are calculated on the status/data date, which occurs at the completion of the iteration. The PMB is set for the release, and this also informs the budget at completion (BAC) for the release.

Next, we will consider the metrics associated with EVM in an Agile environment. 

EVM Metrics in Agile Approaches

The foundational EVM metrics used in Agile are noted in the below table with explanations. As you can see, the traditional metrics of EV, PV, AC, and BAC are also taken-up in Agile development; however, the explanation and understanding with respect to Agile contexts are different.


The values for PV, EV, and AC are calculated at the end of every iteration (you can set the status date as of the end of the concerned or considered iteration), whereas the BAC is determined at the release level. This is in sync with the backlog-based representation that we saw earlier.

The budget at completion (BAC) at the release level will be calculated as follows:

Budget at Completion (BAC)

= Total budget for the release

= Number of Items in the Release * Cost per backlog items (or cost per PBI)

For every item in the backlog (PBIs), cost is usually considered, which is one of the key product prioritization factors.

Now that we have the BAC, we can easily calculate the EV and PV, respectively with the below formulas:

First taking PV, the formula will be:

Planned Value (PV)

= Percentage of planned complete * BAC

= % of planned complete * BAC.

Earlier I said, PV, EV, and AC, etc. are calculated as of the status/data date or the iteration completion date. Considering an scenario where you have five iterations in a release and you are measuring at the end of the 2nd iteration, we’d see the following: case:

Percentage (%) of planned complete

= Iteration number / Number of iterations

= 2/5

= 40%

The formula for earned value (EV) will come out as shown below.

Earned Value (EV)

= Percentage of actual complete * BAC

= % of actual complete * BAC.

Why are we considering percentage of percentage of actual complete for EV? It’s because earned value is the value that you have earned by completing the work or having “done” the work.

To determine the percentage of actual completed work, you have to consider the stories that have been completed at the end of an iteration. Let’s say you have completed 40 story points worth of work out of 200 in a release, and you’re at the end of 2nd iteration. The percentage is calculated as follows:

Percentage (%) of actual complete

= Story points completed (or done) / Total story points

= 40/200

= 20%

I’ve summarized the calculations in the below table. 

So far, we have shown small examples with respect to BAC, PV, EV, and AC. Based on these metrics, we can easily calculate the current performance metrics of SV, CV, SPI, and CPI using the formulas mentioned in Table – 2.

For this purpose, let’s take an example from the course, ACP Live Lessons, Guaranteed Pass, to compute the associated metrics. A dedicated set of videos are available in the Live Lessons course.

An Example – EVM In Agile

A project is being released in an Agile mode. Below are the details for the project:

  • Product Backlog = 500 story points
  • In the first release = 200 story points
  • Velocity = 25 points per iteration
  • Cost per point = $1600
  • At the end of 1st iteration, actual cost incurred was $30,000.
  • At the end of 1st iteration, story points completed were 20 story points.

With this, we can determine the following.

  • Budget at Completion (BAC)
  • Number of Iterations
  • Planned value per iteration (PV) and Earned Value (EV) for the first iteration
  • Schedule Variance (SV) and Cost Variance (CV)
  • Schedule Performance Index (SPI) and Cost Performance Index (CPI)

If you have understood so far, you can try it on your own and determine the values being asked in the above questions.

To confirm your understanding and reaffirm your answer, the solution is noted below.

Budget at Completion (BAC)

= Cost per point * Number of story points

= $1600 * 200

= $320,000

Total number of Iterations

= Story points in a release / Velocity

= 200 / 25

= 8

Percentage (%) of planned complete at the end of first iteration

= Iteration number / Total number of iterations 

= 1 / 8

= 12.5%

Percentage (%) of actual complete at the end of first iteration

= Total number of story points completed / Total number story points planned

= 20 / 200

= 10%

Now that we have the needed values, let’s calculate the other associated metrics of PV, EV, and AC.

Planned Value (PV) for the iteration

= % of planned complete * BAC

= 12.5% * $320,000

= $40,000

Earned Value (EV) for the iteration

= % of actual complete * BAC  

= 10% * $320,000

= $32,000

The actual cost (AC), as mentioned in the question

= $30,000.

With these calculations, we can now determine the current performance metrics of the project at the end of the first iteration.

Schedule Variance (SV)

= EV – PV

= $32,000 – $40,000

= – $8,000

Cost Variance (CV)

= EV – AC

= $32,000 – $30,000

= + $2,000

Look at Table – 2. One could say the release is behind schedule and under budget by looking at the performance metrics of SV and CV, respectively. This is because SV is negative (bad), whereas CV is positive (good).

Next, let’s determine the values for SPI and CPI.

Schedule Performance Index (SPI)

= EV / PV

= $32,000 / $40,000

= 0.8 

Cost Performance Index (CPI)

= EV / AC

= $32,000 / $30,000

= 1.07

Again, referring to Table – 2, you could say the release is behind schedule and under budget by looking at the performance metrics of SPI and CPI, respectively. This is because SPI is below one (bad), whereas CPI is above one (good). 

Representation in S-Curve

Like a traditional EVM, in Agile context, you can also depict the various EVM metrics in an S-curve. These curves are frequently used in many projects to depict the progress and status reporting. However, your perspective has to change/adapt for the Agile context.

An S-curve showing BAC, EV, PV, AC, SV, and CV is shown in the below figure. 

The BAC is at the release level. The PMB line is along the EV curve. Our status date or data date is at the completion of Iteration – 3, and, on this date, we are measuring the foundational metrics of PV, EV and AC, as well as the current performance metrics of SV, SV, and hence, associated SPI and CPI. When you combine this representation with estimated story points in the product backlog, you can have the release burn-up chart. 

Video – EVM in Agile

As we close, I want to summarize the foundations of EVM in Agile in the below video, taken from the course, ACP Live Lessons [duration: 13m:06s]. This video notes certain key points you should keep in mind when calculating earned value in an Agile domain. It also further explains the above S-curve. For the best experience, you may want to go full-screen in HD mode and plug-in your earphones.


With this, I believe, I leave you with the fundamentals of earned value management executed in Agile environments.

If you have comments, suggestions, or new ideas, please do share them below.

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This article was first published by MPUG.com on 22nd September, 2020. This is a refined version.


References

[1] Course: ACP Live Lessons, Guaranteed Pass or Your Money Back, by Satya Narayan Dash

[2] Book: I Want To Be A PMI-ACP: The Plain and Simple Way, 2nd Edition, by Satya Narayan Dash

[3] Course: ACP 21 Contact Hours, with Money Back Guarantee, by Satya Narayan Dash