Project and Program Management
This domain tests whether you can select the right delivery approach, plan and control work, and connect projects to program benefits. Expect questions on lifecycles, scope, scheduling, earned value, stakeholders, and benefits realization.
Projects, programs, and portfolios
A project creates a unique product, service, or result. A program is a group of related projects managed together to obtain benefits not available from managing them separately. A portfolio is a collection of projects and programs selected to meet strategic objectives. PMBOK 7 emphasizes 12 principles and 8 performance domains, including stakeholders, team, development approach and lifecycle, planning, project work, delivery, measurement, and uncertainty. Predictive, adaptive, and hybrid approaches are chosen based on uncertainty, regulatory constraints, and the cost of change.
Scope, schedule, and earned value
A work breakdown structure decomposes scope into manageable work packages. The critical path is the longest path through the network and determines the shortest possible duration; float is the amount a path can slip without delaying the project. Earned value management compares planned value, earned value, and actual cost. Cost variance is EV minus AC; schedule variance is EV minus PV; CPI is EV/AC; SPI is EV/PV; EAC is typically BAC/CPI; TCPI is (BAC − EV)/(BAC − AC).
Worked example
BAC is $500k; PV $220k; EV $200k; AC $250k. CV = −$50k, SV = −$20k, CPI = 0.80, SPI = 0.909. EAC = 500/0.80 = $625k, so VAC = −$125k. TCPI = (500 − 200)/(500 − 250) = 1.20. The project is over budget and behind schedule and must achieve 20% better cost efficiency on remaining work to finish within BAC. The EAC assumes the current CPI continues; if the cause was one-time, a bottom-up EAC is better.
Traps that cost marks
- Reading SPI above 1 as good while CPI is below 1 without investigating the conflict.
- Using subjective percent complete instead of objective earned value rules.
- Gold plating scope to please a stakeholder.
- Treating a program as one large project and missing cross-project benefits.
- Ignoring stakeholder and uncertainty performance domains because the schedule looks fine.
- Declaring success at go-live before benefits are realized.