Pharm Manager,
From your note, I take it you have your PharmD degree. My brother was very close to his when he had to leave school.
I agree with many of Jack's comments. You will want to go to the PMI website to see their current requirements. I have taught the PMP Preparation class for years for PMI, and they keep changing requirements. Go to http://www.pmi.org/info/PDC_PMP.asp to find the current requirements. The newest requirements call for 35 hours of project management education prior to taking the class. That does not mean just PMP Prep, it could also be filled by other courses.
I have posted a lot of good information in the Files area of the eLounge for your PMP Prep. You need to know the PMBOK (Project Management Body of Knowledge) down cold as most of the questions are based on the PMBOK. If you are a PMI member, they send you a CD with the latest PMBOK. Study it, diagram each chapter for Input--Process--Output and create study tests for yourself in mulitple choice format.
Here is some advice:
1) Memorize your formulas:
Performance Calculations
· Planned Value (PV) = Budgeted Cost of Work Scheduled (BCWS) = estimated budget
· Actual Cost (AC) = Actual Cost of Work Performed (ACWP) = what was used
· Earned Value (EV) = Budgeted Cost of Work Performed (BCWP) = the value of the work actually performed
· Schedule Variance (SV) = EV-PV or BCWP-BCWS
· Schedule Performance Index (SPI) = EV/PV or BCWP/BCWS
· Cost Variance (CV) = EV-AC or BCWP-ACWP
· Cost Performance Index (CPI) = EV/AC or BCWP/ACWP
2) When you sit down for the exam, write all the formulas on the paper they give you
3) Clear your mind and forget the formulas since you have them in front of you.
4) Take a deep breath
5) Take the test
6) If you can’t get an answer right away, skip it. Chances are you will “discover” the answer as you answer subsequent questions.
As Jack said, project experience is very important when getting your PMP. I recently led a discussion on this topic with a number of certified PMO Directors or Managers. The greatest need is to have the innate ability to manage projects and the skills to lead a team when things are burning. The PMP is frosting on the cake if the PM has those skills. Without the skills and experience to lead projects, the PMP just gives you the right terminology and knowlege of the process; not practical knowledge. It is like getting your Masters or PhD without any experience. You can quote the verse, but you don't have anything to back it up.
The Biotech field is very hot right now for project managers and since many PMs in the field have their PhD, having the PMP will help you that much more.
John F. Filicetti, PMP, MBA