One of the most important jobs a project manager has is to successfully complete her or his projects. But per definition, projects are usually something that has never been done before and so we are faced with risk. Managing risk helps us achieve project success. We explore the process of Plan Risk Management in detail.
We discuss its importance and then review all inputs, tools & techniques, as well as outputs one by one. You need to know this for your PMP exam.
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The PM Exam Simulator gives you an "insider’s view" of the actual Project Management Professional (PMP)® Exam. Practice on 1,600+ highly realistic PMP® Exam sample questions that were developed based on the current exam specifications.
Prepare "like real" with the 90-day access as often as you want. Read detailed explanations alongside all answers and learn why your answer was / was not correct. Learn effective test taking
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Don't get caught off guard on exam day. With first-hand experience of the environment and questions you’ll encounter when you take the exam, you can raise your score, increase your confidence and be fully prepared to succeed.
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Sample Question and Answer
During execution of your project, a major dispute arises between your company and one of its vendors following your latest review of the vendor's performance reports. Your company's position is that the vendor has failed to meet certain performance obligations under the contract terms. The vendor feels that your company is behind in making payments. What is the best course of action for you to take in this
situation?
A. Refer this issue to a third party for mediation or arbitration
B. File a contract claim and then work directly with the vendor to resolve the issue
C. Terminate the contract early, document lessons learned, and find another vendor who can do the work
D. Conduct a procurement audit
HINT: What is the tool used during Control Procurements to document, process, monitor, and manage disputes between a buyer and seller?
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Lessons Learned from Karthik Natarajan, PMP
"My lessons learned for future PMPs:
1. Prepare a Plan
2. Stick to the plan or try your best to follow the plan at least. As Cornelius said in his lessons change is inevitable, So the plan also may need to change!
3. Try mocks from different sources and review all the answers. 4. Relax day before the real exam..." Read more...
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We would like to ask a few minutes of your time to post a quick, honest and lovely review of your experience as a PM PrepCast student.
Thank you for your time. :)
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Student Profile: Abdallah Bachir, PMP, EIT
"...What I did during the last week was to keep practicing questions, reading explanations whether my answers were right or wrong and why each answer was eliminated. I would say this is what helped me the most to pass the PMP test first try. On the day of the exam, I decided not to do anything related to studying and just relax and be ready mentally for the test..."
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Kudos to our students who passed the PMP exam! - Allison Li, PMP
- Adem Alli, PMP
- Joe Pang, PMP
- Alain Fawaz, PMP
- Anne Hand, PMP
- Nikhil Singh,
PMP
- Amy Martinez, PMP
- Isanders Gudiel, PMP
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- Mohand Moussouni, PMP
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PMI-RMP, PMI-ACP, and PMI-PBA are registered marks of the Project Management
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