Project Management Tools, Metrics, and Professional Practice Syllabus

What is the Payback Period, and what is its main limitation?

The Payback Period is the time required for cumulative benefits to recover the initial investment: $\text{Payback} = \dfrac{\text{Initial Investment}}{\text{Annual Cash Inflow}}$ (for even flows). Limitation: it ignores the time value of money and cash flows after payback.

What is Integrated Change Control (ICC) in PMI's framework?

Perform Integrated Change Control is the process of reviewing all change requests; approving, deferring, or rejecting them; and managing changes to deliverables, documents, and the project management plan in a coordinated way across all knowledge areas.

What are the four possible dispositions of a change request in integrated change control?

A change request can be Approved, Rejected, Deferred (postponed), or sent back for more information. Approved changes are then implemented and verified.

What is a Change Control Board (CCB), and what is its role?

A CCB is a formally chartered group of stakeholders responsible for reviewing, evaluating, approving, deferring, or rejecting change requests to a project, and for recording those decisions. Its authority is defined in the change management plan.

Why must approved changes flow through configuration/change management before implementation?

To ensure changes are documented, assessed for impact on scope/schedule/cost/quality/risk, baselines are updated in a controlled way, version integrity is maintained, and all affected parties are notified—preventing scope creep and inconsistency.

What are the five stages of the ADKAR change management model?

Awareness (of the need for change), Desire (to support it), Knowledge (of how to change), Ability (to implement skills/behaviors), and Reinforcement (to sustain the change). ADKAR is a Prosci model focused on individual change.

List the eight steps of Kotter's change management model.

1) Create urgency, 2) Build a guiding coalition, 3) Form a strategic vision, 4) Enlist a volunteer army (communicate the vision), 5) Enable action by removing barriers, 6) Generate short-term wins, 7) Sustain acceleration, 8) Institute/anchor change in the culture.

How do ADKAR and Kotter's model differ in focus?

ADKAR is a bottom-up, individual-centric framework (change happens one person at a time). Kotter's 8-step model is a top-down, organization-wide framework emphasizing leadership, urgency, and embedding change in culture.

What are the main objectives of the Close Project or Phase process?

To finalize all activities: obtain final acceptance of deliverables, transfer the product/service, release resources, close contracts, document lessons learned, archive project records, and formally confirm the project/phase is complete.

What is the difference between administrative closure and contract (procurement) closure?

Administrative closure finalizes internal project activities, records, and stakeholder acceptance. Contract/procurement closure formally settles and closes each contract, confirming all terms were met and resolving any claims.

What is a key output of closing a project regarding organizational learning?

The final lessons learned register (rolled into a lessons learned repository) and the final report, which capture what went well, what didn't, and recommendations for future projects.

What are 'Lessons Learned' and when should they be captured?

Lessons learned are the documented knowledge gained during a project about what worked and what to improve. Best practice is to capture them continuously throughout the project (not only at close) and store them in a repository for reuse.

What is knowledge transfer, and why is it important at project close?

Knowledge transfer is the process of passing project knowledge (explicit and tacit) to operations, stakeholders, and future teams. It prevents loss of critical information, enables ongoing support, and improves future project performance.

Distinguish explicit knowledge from tacit knowledge (per PMI's Manage Project Knowledge).

Explicit knowledge is codified and easily shared through documents, data, and words. Tacit knowledge is personal, experience-based, intuitive, and hard to articulate—shared best through interaction, mentoring, and collaboration.

What is Benefits Realization?

Benefits realization is the process of ensuring the intended business benefits of a project or program are actually achieved, measured, and sustained—often after the project closes—as defined in a benefits realization plan/management plan.

What is a Post-Implementation Review (PIR), and when is it conducted?

A PIR (post-project review) is an evaluation conducted after a project's deliverables are in operation—typically some months after closure—to assess whether objectives and expected benefits were achieved and to capture lessons for the future.

Who typically owns benefits realization, and why often not the project manager?

Benefits are often realized after the project ends and are owned by the business/operations (e.g., a benefits owner, program manager, or sponsor), because the project manager's role usually ends at deliverable handover before benefits accrue.

What is the PMP certification and who administers it?

The Project Management Professional (PMP) is administered by the Project Management Institute (PMI). It is a globally recognized credential for experienced project managers, based on the PMBOK Guide and current practice standards.

What are the eligibility requirements for the PMP certification?

Either a four-year degree with 36 months of project leadership experience plus 35 hours of project management education, OR a high-school diploma/associate degree with 60 months of experience plus 35 hours of education (or the CAPM held). All require 35 contact hours.

What is the CAPM certification and its target audience?

The Certified Associate in Project Management (CAPM) is an entry-level PMI credential for those new to project management or wanting foundational knowledge. It requires a secondary diploma and 23 hours of project management education (via PMI's course).

What is the PMI-ACP certification?

The PMI Agile Certified Practitioner (PMI-ACP) validates knowledge of Agile principles and multiple approaches (Scrum, Kanban, Lean, XP, TDD). It requires Agile project experience plus 21 contact hours of Agile training.

Compare the Certified ScrumMaster (CSM) and Professional Scrum Master (PSM) certifications.

CSM is from Scrum Alliance and requires attending a two-day course before passing the exam; it must be renewed periodically. PSM is from Scrum.org, has no mandatory course, is exam-only, has a higher passing bar, and does not expire.

What are the three levels of the Professional Scrum Master (PSM) certification?

PSM I (fundamental Scrum knowledge), PSM II (advanced/applied mastery), and PSM III (distinguished, expert-level understanding and application of Scrum). Each has a progressively harder exam and higher passing threshold.

What is PRINCE2 and what does the acronym stand for?

PRINCE2 stands for PRojects IN Controlled Environments. It is a process-based, structured project management methodology widely used in the UK, Europe, and Australia, now owned by PeopleCert/AXELOS.

Distinguish the PRINCE2 Foundation from the PRINCE2 Practitioner certification.

Foundation tests understanding of PRINCE2 principles, themes, and processes (recall level). Practitioner tests the ability to apply and tailor PRINCE2 to a real project scenario (application level) and is the higher-level credential.

Name the seven principles of PRINCE2.

1) Continued business justification, 2) Learn from experience, 3) Defined roles and responsibilities, 4) Manage by stages, 5) Manage by exception, 6) Focus on products, 7) Tailor to suit the project environment.

How does PRINCE2 differ in emphasis from the PMBOK/PMP approach?

PRINCE2 is a prescriptive methodology (principles, themes, processes, and defined management products) telling you how to run a project. PMBOK/PMP is a framework of good practices, knowledge areas, and principles—describing what to do but not a step-by-step method.

What is a PDU (Professional Development Unit)?

A PDU is the measuring unit PMI uses to quantify continuing education and professional contributions. One PDU generally equals one hour of qualifying learning or giving-back activity, required to maintain PMI certifications.

How many PDUs must a PMP holder earn per cycle, and how long is the cycle?

A PMP holder must earn 60 PDUs every three-year certification cycle to maintain the credential (CAPM requires 15 PDUs per three-year cycle under PMI's newer requirements).

What is PMI's Continuing Certification Requirements (CCR) 'Talent Triangle,' and what are its three sides?

The CCR Talent Triangle defines the skill areas for earning PDUs: Ways of Working (technical), Power Skills (leadership/interpersonal), and Business Acumen (strategic and business management). PDUs must be spread across these areas with minimums per side.