Thursday, October 25, 2018

PMP Live Lessons (PMBOK6 + Process Group Practice Guide + Agile Practice Guide) – Guaranteed Pass or Your Money Back







This course has been updated with the latest PMP Exam changes.

I am delighted to announce the availability of PMP® Live Lessons, a complete video course. 

"PMP Live Lessons – Guaranteed Pass or Your Money Back"

This course is based on PMBOK Guide, 6th edition. This is one of its kind course in the world. No one ever has given a guaranteed pass, with FULL money back for PMP exam with live lessons. It has been updated later with both Process Group Practice Guide (2023) and the Agile Practice Guide (APG).
I believe the PMP certification is achievable for any genuine candidate. Anyone who truly aspires to be a PMP, can be a PMP. One needs right content, proper direction, solid understanding of concepts with sufficient practice and of course hard work, to crack the exam. 

 This course has been internally available since beginning of this month. The contents of this course have been used already by successful PMPs. And many aspiring PMPs are using it. This post is a formal declaration for the PMP Live Lessons course going fully public.

 The PMBOK guide 6th edition is already effective from March 26, 2018. It is bigger and complicated as compared to the PMBOK 5th edition, which makes the many aspiring PMPs struggle. Recently, the Agile Practice Guide (APG) has been added as a prime reference as 50% questions will be from Agile/Hybrid approaches, increasing the coverage area. This course also has been requested by many. In fact, many aspiring PMPs around the world are already using this course.

For earlier reviews, you can refer:
PMP Live Lessons Reviews by Successful PMPs

For recent success stories, you can refer:

 For sample videos, you can refer:
PMP Live Lessons Sample Videos(1) - 9 Videos
Top 10 Features: PMP Live Lessons
  1. Total Video Duration: 40.5 hours (40h 33m 11s) [+9 hours of NEW videos for Process & ITTO exercises; +7 hours NEW videos for AGILE; Total Video Duration now = 57 hours]
  2. Number of Videos: 708 [+82 NEW videos for process & ITTOs; +109 for AGILE; Total number of videos now = 909]
  3. Number of Lessons: 15 (+3)
  4. Number of Questions: 3500+
  5. Number of Full Length Question Sets: 6 (total = 1000+ Questions) [+1 NEW full-length Q&A Set, Fresh set of questions; +2 NEW full-length AGILE Q&A Sets - 360 questions]
  6. Practice Questions: 150 questions (average)
  7. A number of new questions for Other Questions Types: Multi-response, Drag and Drop, HotSpot, Fill in the Blanks.
  8. Smart Cards: 405 (Smart Cards referring the PMBOK Guide; +60 NEW for Agile; Total now = 465)
  9. Flow Diagram Video Exercises: 51 (Interactions among processes, documents/plans flow; +3 NEW and Total = 54)
  10. Tips and Tricks: 100s of Tips throughout the lessons
  11. Two full-length question sets specifically on AGILE, with detailed answers. Additional lesson-end practice questions.
  12. Content: Simple content and Highly interactive videos, with lots of exercises

High Level Course Breakdown
  • Welcome (9 videos): 13m 31s [13 minutes 31 seconds]
  • Lesson 1 - About PMI-PMP Exam (16 videos): 51m 17s
  • Lesson 2 - Introduction, Part 1 and Part 2 (65 videos): 4h 31m 07s
  • Lesson 3 - The Environment in Which Project Operates (25 videos): 1hr 43m 02s
  • Lesson 4 - The Role of The Project Manager (24 videos): 1hr 33m 14s
  • Lesson 5 - Project Integration Management (84 videos): 4h 41m 39s
  • Lesson 6 - Project Scope Management (56 videos): 2h 35m 34s
  • Lesson 7 - Project Schedule Management (72 videos): 3h 47m 23s
  • Lesson 8 - Project Cost Management (37 videos): 2h 38m 28s
  • Lesson 9 - Project Quality Management (44 videos): 2h 45m 07s
  • Lesson 10 - Project Resource Management (75 videos): 3h 34m 18s
  • Lesson 11 - Project Communications Management (46 videos): 2h 19m 59s
  • Lesson 12 - Project Risk Management (66 videos): 4h 10m 16s
  • Lesson 13 - Project Procurement Management (47 videos): 2h 42m 02s
  • Lesson 14 - Project Stakeholder Management (41 videos): 2h 09m 45s
  • (NEW) Lesson 15 - Agile Project Management (98 videos): 5h 47m 05s
  • Lesson 16 - Exercises for Examination Content Outline (ECO)
  • Lesson 17 - 6 Full Length Question and Answer Sets [+1 NEW full-length Q&A Set, Fresh set of questions; +2 NEW full-length AGILE Q&A Sets - 360 questions]
  • Final Talk (1 video): 3m 1s

The details on it are also available available at:
https://www.managementyogi.com/p/pmp-live-lessons.html

 What is Guaranteed Pass or Your Money Back Program?
You go through the videos, along with detailed instructions (also in video format), and appear in the PMP exam – only two attempts. If you couldn’t clear, share your exam report. I’ll refund your entire money - no questions asked. 

There are no little tricks, such as – “terms and conditions apply”, “appear the exam multiple times till you pass”, “** conditions (conditions with stars in the footnote in small letters)”, as you would have seen in many places. What you see (and reading in this post) is what you get.

The premise is simple.
Give the exam. You pass and you are a PMP. You win. 
In case you couldn’t clear the exam, your full money will be back with you. You still win.
 
You will also have the 35 contact hours certificate free of cost. The PMP Live Lessons course, as noted in previous top features, provides this course completion certificate. This is another win for you.

Applicability and Validity
  • Guides: PMBOK Guide, 6th edition, Process Group Practice Guide (2023) and Agile Practice Guide (APG)
  • Valid Date for Guarantee: 6 months from the date of purchase
  • Price:
    $US 799/ Rs 63,919. Now $US 409/ Rs 34,449 (6 months access)
    $US 1,099/ Rs 87,919. Now $US 559/ Rs 47,549 (1 year access)
  • 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.
  • Number of Attempts: 2
  • Available since: October, 2018
    (Updated with the latest PMP Exam 2025 changes)
  • Primary Format: Video
  • Status: Available
    (accessible via laptop/desktop)

Detailed Course Breakdown
The detailed course breakdown is shown below (Embedded Document). It details on hours of learning, number of videos and practice questions, along with smart cards. You can scroll in the embedded frame, to see the content. The index has been updated with content for Agile/Hybrid approaches, which is part of the latest PMP exam.

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


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Wednesday, August 22, 2018

PMP Success Story: Mission PMP

By Shalini Pathak, PMP


Introduction
I wanted to advance my carrier in management line so my husband told me to get the PMP® credential. And that's how I started to prepare for the PMP certification.

 PMP 35 Contact Hours Experience
After all my research, I joined Satya’s classes for my training. I did google search and found good feedback about his classes and finally reached to attend the training on 10th March 2018.

 Before the training I had read the PMBOK® Guide once. But it was Satya’s teachings that made sense to me and cleared all my doubts. I still remember all his tips and particularly the sentence “Most people could not pass PMP because they could not gather the courage to attempt it”. It kept me motivated.

 Note down all the one liners which Satya tells in the class room. Along with that follow the examples, questions, videos and specially graphs. Take notes of all.

 Listen carefully what Satya says when a new knowledge area starts.

 Own Study
I started studying from November 2017 but only reading books were very boring until I attended training.
After training the PMBOK new version was introduced due to which I became little restless. But as I Satya had mentioned that there are not too many changes in the new edition. Hence, I decided to put my best in the first attempt. 

 I used to study while commuting in the auto to and from the office. Continuity matters in the preparation. I had installed few free mobile apps which I used to solve on the way in auto. I used to study 2 hours on weekdays and minimum 4 hours over the weekends 

 Before exam which was on Tuesday, I took Monday off and Saturday to Monday till 5pm I devoted my full time to ITTOs, their concepts why it is in particular process and other important topics which I had made notes during study. I was always getting 65 to 70 percent in mock tests. I attended more than 2000 questions which were available in the internet.

 Due to preparation I was not able to spend time with my son which was a biggest motivation for me to clear in first attempt. Credit goes to my husband who always motivated me and helped me to achieve me this certificate.

 PMP Exam Experience
I took exam appointment in Whitefield centre on 31st July 2018. My strategy was to finish every question within one minute so that I can save time for mathematical questions.

 The test paper was full of tricky questions. 
  • I had to choose the document which will be updated as output or part of input to the process. 
  • Three to four questions on control chart and scatter diagram. 
  • Around twenty to thirty questions were on risk management aspects and change requests. 
  • It appeared as paper is full of Stakeholder Management, Communications Management, Risk Management, Procurement Management and Resource Management knowledge areas.
  • Four to five questions were mathematical and they were straight forward.
  • I did not get any agile related, best practices questions or emerging trend questions.

I was not sure if I can sit for so long and hence didn’t drink much water. But I didn’t feel the need to get up and refresh myself. I had put noise cancelling headphones which kept me concentrate on my test as noise is biggest distraction for me.

 I finished my paper in 3hrs 45 mins. I had marked 8 questions for review in which I changed only 1 answer. After finishing when the result process was in progress I was not sure about result as you don't get much time to think about your answer as speed matters.
I passed the exam with 3 Above Targets and 2 Targets. 

 Suggestions for PMP Aspirants
  • Use your commute time. Be always in touch with your preparation, even for 15mins. It helps to keep the aim of PMP in your mind. 
  • Don't read many books. Choose only one book apart from PMBOK to clear your concepts. 
  • What is not in PMBOK guide, will not be in the PMP exam (very less likely). It’s like what is not in the WBS, is not part of the project.

Conclusion
I hope that it will help me enhance my personal and professional growth.

 Brief Profile
Name: Shalini Pathak
Role: Senior Lead QE
Organization: Tavant Technologies



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Tuesday, August 14, 2018

Decision Tree Analysis in Risk Management



Decisions and uncertainties abound in life. Take something as simple as deciding where to go for a short vacation. Do you go to a nearby mountain because your friends like it or to a faraway beach because you like it? The option of staying near the beach may be cheaper but would require a longer travel time, whereas going to the mountains may be a bit expensive, but you’ll arrive there earlier! Which option would you to take?

 Or say you’re remodeling your house, and you’re choosing between two contractors. Contractor A will cost more than Contractor B. But B isn’t known to be a stickler for time, and there will be a high chance (or probability) for delay, whereas Contractor A, though comparatively expensive has a greater chance of finishing the work on time. Which contractor would you choose?

In both situations uncertainties exist with respect to investment and time. While making your decision, you’ll carefully consider the alternatives and see the possible outcomes. It’s likely that you’ll choose the outcome with the highest value or the one having the least negative impact.

 Uncertainties lead to risks. Before taking actions on risks, you analyze them both qualitatively and quantitatively, as we’ve explored in a previous article. By quantifying the risks, you gain confidence.

 Let’s take the second situation and quantify it. Let’s say that Contractor A will cost you $50,000 and has a 10 percent chance of coming in late whereas Contractor B will cost you far less — $35,000 — but with a 25 percent chance of being late. For being late, the penalty on either contractor is $10,000. With this information, is it not easier for you to decide which one to hire?

 Projects behave in a similar fashion. They’re executed in uncertain environments, whether related to scope, schedule, budget, resources or something else. And like daily life, projects also must be executed despite their uncertainties and risks. If you quantify the risks, decision making becomes much easier.

 For quantitative risk analysis, decision tree analysis is an important technique to understand. For your preparation of the Project Management Institute® Risk Management Professional (PMI-RMP)® or Project Management Professional (PMP)® examinations, this concept is a must-know.

 Expected monetary value (EMV) analysis is the foundational concept on which decision tree analysis is based. What does EMV do? Let’s work through an example.

 Expected Monetary Value (EMV) Analysis

 First, don’t confuse EMV with the term EVM! The latter stands for earned value management, whereas EMV stands for expected monetary value, which is completely different. EMV is a tool and technique for the “Perform Quantitative Risk Analysis” process (or simply, quantitative analysis), where you numerically analyze the effect of identified risks on overall project objectives.

 The formula for EMV of a risk is this:
Expected Monetary Value (EMV) 
= Probability of the Risk (P) * Impact of the Risk (I)
or simply,
EMV = P * I

 EMV calculates the average outcome when the future includes uncertain scenarios — positive (opportunities) or negative (threats). Opportunities are expressed as positive values, while threats have negative values. Both the values will be considered by adding them together.

 Example: There’s a negative risk (or threat) with a 10 percent probability of prohibiting the execution of a work package. If that risk happens, the impact of not executing the package is estimated at $40,000. For the same work package, there’s a positive risk with a 15 percent probability and impact estimated at a positive $25,000. Should you execute the work package?

 Answer:
EMV for the threat = P * I = 10% * (-$40,000) = -$4,000
EMV for the opportunity = P * I = 15% * (+$25,000) = $3,750
Now, the EMV = – $4,000 + $3,750 = -$250

 Obviously, you don’t want to execute the work package, because you’ll lose money on it. When a work package or activity is associated with a risk, you can find the individual EMV. In other words, you quantify the individual risks.

 That covered EMV for an individual work package. How about the overall project risk? A project, after all, will have many work packages, right?

 To figure this out, you calculate the EMV by multiplying the value of each possible outcome (impact) by its likelihood of occurrence (probability) and then adding the results — which leads us back to our original topic. A common use of EMV is found in decision tree analysis.

 Decision Tree Analysis

 Decision tree analysis (DTA) uses EMV analysis internally. A decision tree, as the name suggests, is about making decisions when you’re facing multiple options.
Here are some of the key points you should note about DTA:
  • DTA takes future uncertain events into account. The event names are put inside rectangles, from which option lines are drawn.
  • There will be decision points (or “decision nodes”) and multiple chance points (or “chance nodes”) when you draw the decision tree. Each point has different symbols: a filled up small square node is a “decision node”; a small, filled-up circle is a “chance node”; and a reverse triangle is the end of a branch in the decision tree. These are noted in this table:
  • Because this format results in a diagram that resembles a tree branching from left to right, decision tree is an apt name! To analyze a decision tree, move from left to right, starting from the decision node. This is where the branching starts. Each branch can lead to a chance node. From the chance node, there can be further branching. Finally, a branch will end with end-of-branch symbol.
  • The probability value will typically be mentioned on the node or a branch, whereas the cost value (impact) is at the end.
  • Next come the calculations on the branches of the tree. To calculate, move from right to left on the tree. The cost value can be on the end of the branch or on the node. Just follow the branch to do the calculation.
  • The best decision is the option that gives the highest positive value or lowest negative value, depending on the scenario.

Let’s work through an example to understand DTA’s real world applicability.

Example: You’re doing a prototype for your project, but you’re not sure whether to proceed with this prototype. If you do the prototype, it will cost you $100,000; and, of course, if you don’t pursue it, there will be no cost. If you do the prototype, there is 30 percent chance that the prototype might fail, and for that the cost impact will be $50,000. However, if the prototype succeeds, the project will make $500,000. If you do not do any prototype, you’re already taking a risk, the chance of which is 80 percent with a failure impact of $250,000. But, again, without a prototype, should you succeed, the project will make the same money as mentioned before. What should you do?

Answer:
To begin your analysis, start from the left and move from the left to the right. First, draw the event in a rectangle for the event — “Prototype or Not.” This obviously will lead to a decision node (in the small, filled-up square node as shown below).

From there, you have two options — “Do Prototype” and “Don’t Prototype.” They are also put in rectangles as shown below.


Each option will lead to two events or chances — success or failure — branching out from the chance nodes. Taking the first option, if it fails, which has a 30 percent chance, the impact will be $50,000. If it succeeds (a 70 percent chance), there’s no cost, but there is a payoff of $500,000. These are noted on the arrows in the below figure. Similarly, for the second decision, “Don’t Prototype”. (Click on the image to have an enlarged view.) 


By looking at it, can you conclude anything? I can’t. So let’s do the EVM analysis. To calculate, as noted before, you move from right to left. First, calculate the net path value along each branch of the decision tree. The net path value for a path over the branch is the difference between payoff minus costs. Next, at every chance node, calculate the EMV. From these EMVs, we can find out the EMV of at the decision node. The decision giving the highest positive value or lowest negative value is selected.

This is summarized in this table. (Click on the image to have an enlarged view.) 


EMV for Chance Node 1, the first circle:

The net path value for the prototype with 70 percent success = Payoff – Cost:
= +$500,000 – $100,000 
= +$400,000

The net path value, for the prototype with a 30 percent failure = Payoff – Cost:
= -$50,000 – $100,000 
= -$150,000

EMV of chance node 1 = [70% * (+$400,000)] + (30% * (-$150,000)]
= +$280,000 – $45,000 
= +$235,000

EMV for Chance Node 2 (the second circle):
The net path value for the prototype with a 20 percent success = Payoff – Cost:
= +$500,000 – $0 
= +$500,000

The net path value for the prototype with 80 percent failure = Payoff – Cost:
= -$250,000 – $0 
= -$250,000

EMV of chance node 2 = [20% * (+$500,000)] + (80% * (-$250,000)]
= +$100,000 – $200,000 
= -$100,000

These results are shown in this figure. 


Which alternative would you take? Look at the EMV of the decision node (the filled-up square). That’s +$235,000. With the other option — no prototyping — you’re losing money. Hence, you should go for the prototype.

Decision tree analysis can be applied to various project management situations where you’re faced to options or alternatives.

Coming back to the example of the house remodel, can you now say which vendor to choose? You can draw a diagram like the previous ones, or you can do a quick calculation:

For Contractor A, the cost will be:
Pay cost + Payback for delay
= (-$50,000) + 10% * ($10,000) 
= -$50,000 + $1,000 
= -$49,000

For Contractor B, the cost will be:
Pay cost + Payback for delay
= (-$35,000) + 25% * ($10,000) 
= -$35,000 + $2,500 
= -$32,250

The best answer? With the available data, you’d go with Contractor B, even though this vendor has a higher chance of being delayed.

It’s worth noting that the application of decision tree analysis isn’t only limited to risk management. DTA can be applied to machine learning for artificial intelligence (AI) and data mining in big data analytics.

Go forth and calculate your way to better decisions!

References:
[1] I Want To Be A RMP: The Plain and Simple Way To Be A RMP, by Satya Narayan Dash
[2] I Want To Be A PMP: The Plain and Simple Way To Be A PMP, by Satya Narayan Dash
[3] Project Management Body of Knowledge (PMBOK) Guide, by Project Management Institute (PMI)
[4] Practice Standard for Project Risk Management, by Project Management Institute (PMI)


***

This article was first published by MPUG on 20th February, 2017.



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