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11

The MBA degree and the PMP (or similar) credential can't really be compared in an either-or way, as they have different goals and requrements. Speaking very generally now, it is reasonable to assume that someone with an MBA and not a PMP credential may not have a skillset that reflects the Project Management Body of Knowledge (PMBOK), and someone with a ...


10

Your best source of information is the PMP Handbook. If you are going to go for your PMP take the time to review and understand what is required, doing so will help maximize your chances to succeed. In the eligibility of the PMP certification it mentions "35 contact hours", I have searched on this for my local region and it seems to be that some training ...


10

I respectfully disagree with @DavidEspina. I don't think his answer is fundamentally wrong, but it doesn't match my answer. During project initiation (or in some contract work, prior to project initiation) you determine the scope of work. This is the box inside which all requirements must fit. The project sponsor and project management team must strongly ...


9

Let's put on your boss' hat for a moment. Their goal is to hire best possible candidate, given all the constraints they have. By the way: it doesn't mean simply hiring the most skilled person, as they may or may not need to take into consideration things like: Salary they're willing to pay How the decision affects company culture, e.g. showing that they ...


8

An aspect of the work experience documentation that is often confusing for people has to do with overlapping projects. Here’s the simplest way I’ve found to explain it: PMI is looking for two things regarding work experience on the application: a number of unique months and a total number of hours of leading and directing. Earlier posts handled the leading ...


8

Product Specifications vs. Project Scope One assumes that you're not looking for dictionary definitions. We have Merriam-Webster and Wikipedia for that. For practical differences, I would suggest the following perspective: Requirements Requirements are the things your project needs built, and specifications are the instructions for what the things you want ...


7

PMBoK is a toolbox. It's full of useful tools. Think of the project manager as a carpenter. He gets certified to use every tool in the toolbox. It doesn't mean they're going to use each one when building a piece of furniture.


7

The good news is, project management experience is a useless predictor of future success. The validity of that criterion is very low. The bad news is, it is used the most and relied upon as a heavily weighted criterion (Hunter & Hunter, 1984) and you cannot give them an employee selection tutorial during your interview. There is no formula anyone here ...


7

Crashing is simply the concept of throwing more resources--be it money, tools and machinery, humans, etc--at a work package in an attempt to decrease its overall duration. The general idea is, if you planned 10 days with one person to do a task, then applying a second person will decrease the duration to five days. The issue is, this does not work that ...


6

PMP is focus only on Project Management. Project could be in any industries not only software or Information Technology. PMP PMBOK Book provides a guidance to manage any projects from initiation to closure. It talks about 5 basic process groups Initiating Planning Executing Monitoring and Controlling Closing and 9 knowledge areas Project Integration ...


6

The issue with using formula is that it will provide an extremely precise, deterministic value that lives in a range of probabilistic values. Although extremely precise, no single formula will give you a high degree of accuracy, i.e., all formula have varying degrees of accuracy and thus are useful. But that means you need to use several of them so that ...


5

I do not have experience with Exam Central, but here are a few of the resources I used. I passed it the first round. I really took as many free tests as I could find so that I did get variations. I never stuck with one practice site. The PM-Prep Cast Team makes great stuff, but it isn't free. I'm sure that they would have their site updated. http://www.pm-...


5

MBA, hands-down. An MBA will open up new perspectives on management and entire new areas. The PMP is focused on project management. Of course, as others have mentioned, there is a massive difference in cost and time commitment.


5

Don't throw every technique in the PMBOK at a project just because they're available. Part of the skill is knowing what tools and techniques you should use for which situations. From the pocket edition: "What is it not? it is definitely not a 'project management recipe book'. the project manager and the team remain ultimately responsible for deciding ...


5

I disagree with the concept that you do not need to hire the best possible candidate you can get. What you need is to find a candidate that meets your needs. If you have a team that is good about generating documentation, and self manages their productivity then if the best candidate is an organizer then that is not what you need. Your team is already ...


5

The scale of a project is determined in the first place by the scope of the project (both product and project scope), and derived from that also the number of resources that you will need, the time it will take, required quality, level of risk. And all of that has impact on the budget as well. So I wouldn't call the scale a constraint, but rather the result ...


5

If you are in the UK and are going to be dealing with government projects you are probably better going with PRINCE2. This has several advantages for you: It is the standard for UK government. They developed the method and still own it (though there have been some developments in this regard). It is also apparently heavily used in the private sector in the ...


5

TL;DR I probably would have picked "C" as well, but can see what they were trying to get at with their selected answer. I don't agree with it, but I can see the point. It's an academic answer that probably aligns with something in the PMBOK, but that doesn't mean it's either a great question or a great answer. Ivory Tower Answers Most tests, and ...


5

Expected Monetary Value (EMV) is an important part of risk management, usually used in large and complex projects to perform quantitative risks analysis. Probability is the measurement of the likelihood of the occurrence of any event. Impact is the amount that you will have to spend if any identified risk occurs. According to the PMBOK Guide 5th edition, “...


5

PMI publishes "PMI Today", which displays the number of Active certification holders. As of August 2015 there are 655,576 PMPs, and 28,826 CAPMs. Another up-and-coming certification is the Agile Certified practitioner PMI-ACP which has 8,870. The other 5 certification streams have less than 4k. All told a little under 700k. Keep in mind that some people ...


5

There are 2 requirements to appear for PMP certification - Project Management Experience 35 hours of Project Management Education Regarding Project Management Experience You need 4500 hrs of experience if you have done 4 years of degree (bachelors degree or equivalent). Other wise if you have a diploma of equivalent then you need 7500 hrs of experience. ...


4

Agree with both @jcmeloni and @morons on their take. Here's something to consider: Cheapest option with potential $ gains quicker? - Maybe ask your management what it would look like to take on some management roles so you can get your 'feet wet.' Look internally for some job opportunities. This would help because you would already know the environment, ...


4

I have been developing software since 1995, and have been managing its development since 2006. I also hold both an MBA and PM from a reputable university. Honestly, I don't think you need either. If your intention (as you describe) is to "prepare" for an upcoming career in management, then I'd suggest you find an existing manager and shadow them, and, if ...


4

The idea behind a parametric estimate is that you establish the measurement you are interested in against a unit that is meaningful to you. They are using the term module to represent a unit in generic terms. The unit could be square feet or square yards, produce release, gallons, or something like that. You are essentially creating a ratio in the most ...


4

No, there are no classes that you come away with a PMP certification. The PMP test is a proctored test under full observation conditions. You register for the test with a licensed test facility. You show up on the day of your test and sign in. You then put everything but your clothes into a locker. They will give you some loose paper and a writing implement....


4

The root-cause analysis is not the only problem solving method, and the solution process may include root-cause analysis or other methods. So, a solution idea can be found using any method. That's why accepting the problem and starting to solve the problem, and coming with a solution idea to the stakeholders is the accepted answer. Root-cause analysis is ...


4

The PMP handbook says that you need the "global equivalent" of a bachelor's degree. PMI can't know or dictate the graduation requirements for higher learning institutions all around the world. I can't imagine they would quibble over one year in a degree that you earned three decades ago, is recognized as a bachelor's degree in Canada, and predates the ...


4

Project Charter is a document that formalizes the existence of a project and gives authority to the project manager to use organizational resources for the completion of that project. Having said that, a change of project manager should not have any impact on the Project Charter. The only change would be to update the assigned project manager's name in the ...


3

You can get your PMP in a few weeks and 405$ assuming you have the 3 years PM experience Prerequisite. (and in this case "the person" doesn't) An MBA takes years and 1000s of $... Really these should be two separate decisions as opposed to choosing one over the other.


3

I am currently working on my application, and the paper application no longer includes the quote above. However, I have put in experience ending in Jan 2005 (approx 8 1/2 years ago) which shows zero qualified hours - so clearly the "approved time period" is still in place - although they don't state what it is ANYWHERE on the PMI site (at least that i could ...


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