Table of Contents
1. Be Prepared for Scenario-Based Questions:
All exam questions are scenario-based, meaning you will need to apply concepts and principles to real-world project situations. Focus on understanding how to adapt your knowledge to different project contexts rather than simply memorizing terms.
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2. Master Contract and Risk Management:
The exam places a heavy emphasis on contracts and risk management. Make sure you are familiar with contract types, sections, and how to manage contract-related risks effectively. Understand how risks impact project timelines, budgets, and quality.
Know how to mitigate, transfer, accept, or avoid risks and the implications of these strategies in contractual agreements.
3. Understand the Use of the “Obeya” Room:
The Obeya room is a powerful tool for promoting effective, timely communication and decision-making within a project team. It fosters collaboration and provides a shared space for aligning on project objectives, tasks, and timelines.
Be sure to understand how the Obeya concept ties into lean project management and how it can be used to improve coordination across different project teams.
4. Leverage PMIS (Project Management Information Systems):
Familiarize yourself with how to use PMIS (Project Management Information Systems) effectively. These systems help project managers track progress, resources, timelines, and budgets. PMIS provides data-driven insights for decision-making, which is crucial for keeping projects on track.
Understanding how to extract reports, data analysis, and communication updates from PMIS will be critical for answering questions related to project monitoring and control.
5. Focus on Scenario-Based Decision Making:
Many questions will involve making decisions based on specific project scenarios. It’s important to apply your knowledge of tools, techniques, and frameworks in practical situations. Be prepared to analyze scenarios and choose the best course of action based on project needs, risks, and constraints.
6. Emphasize Contractual Risk and Dispute Resolution:
Contracts can introduce risks, but they also serve as risk management tools. Make sure you understand how to handle disputes and mitigate risks through contract clauses.
Practice identifying potential risks in different contract types and know how to employ dispute resolution techniques when conflicts arise.
7. Governance and Accountability:
A solid grasp of governance frameworks is essential. Understand how to apply governance to ensure accountability within a project. Governance helps set the standards for decision-making, ensuring that projects align with strategic goals.
Know the appropriate dispute resolution techniques and how governance impacts risk management.
8. Change Control and Risk Management:
Changes should always go through the Change Control Board (CCB). Understand the procedures and how these changes could introduce risks to the project, and be prepared to manage these risks accordingly.
9. Understanding Project Delivery Methods:
Familiarize yourself with project delivery methods like Design-Bid, Design-Bid-Build, Integrated Project Delivery (IPD), and Construction Management At Risk (CMAR). Each method carries its own risks and benefits, and knowing when to apply each will be critical for exam scenarios.
10. Value Engineering:
Apply value engineering principles to optimize project costs, quality, and performance. Understand how to analyze project components to find cost-saving opportunities without compromising on quality or safety.
By mastering these areas, especially the focus on contracts, risks, and scenario-based questions, you will be better prepared for the PMI-CP exam. Scenario-based practice will enhance your ability to apply theoretical knowledge to practical project management challenges.
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