Podcast
Business Exam Prep
Hosted by Ran Chen, EA, CFP® · EN
Business Exam Prep is a free, daily podcast by OpenExamPrep covering the most in-demand business and management certification exams — including PMP, CAPM, Six Sigma, FPC (Payroll), CMP, and more. Each 5-minute episode breaks down one exam topic with concrete examples, common exam traps, and memory tricks to help you pass on your first attempt. No fluff, no filler — just the concepts you need to know, explained the way the exam tests them. This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP designation. He is passionate about opening access to high-quality exam preparation for everyone. For free practice questions, AI-powered explanations, flashcards, and full study guides, visit https://open-exam-prep.com/ Subscribe and listen daily — your certification is closer than you think.
77episodes
Episodes
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PRINCE2 Exam Prep 25, Planning Steps and Plan Composition
May 2700:03:03Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The seven sequential steps of the PRINCE2 planning approach, from designing the plan to documenting it. - Why PRINCE2's product-based planning is a critical concept and differs from activity-based approaches. - A common exam trap involving the incorrect sequencing of the 'estimate' and 'schedule' steps. - The key components that make up a formal PRINCE2 Plan, including tolerances, prerequisites, and monitoring approaches. - The mnemonic "Don't Panic At Exam Stress, Remember Details" to recall the seven planning steps in order for exam day. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 24, Product-Based Planning Technique
May 2600:01:51Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The four core steps of PRINCE2's Product-Based Planning technique, starting with the Project Product Description. - The critical difference between a Product Breakdown Structure (PBS), which lists outputs, and a Work Breakdown Structure (WBS), which lists activities. - How a Product Flow Diagram is used to sequence product creation and identify dependencies, distinct from a project schedule. - Why defining products and their specific quality criteria is the foundation for all subsequent planning, including estimating and scheduling. - How to spot common exam traps that test the "products before activities" philosophy of the PRINCE2 methodology. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 23, Plans Practice — Project, Stage, Team, Exception
May 2500:03:37Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A Project Plan is a high-level document for the entire project, used by the Project Board for oversight. - Stage Plans are detailed, short-term plans created for each management stage and used by the Project Manager for day-to-day control. - Team Plans are optional, created by a Team Manager to detail the execution of a specific Work Package. - An Exception Plan is a reactive plan that replaces a Stage or Project Plan when tolerances are forecast to be breached. - Plans become a 'baseline' against which progress is measured once they are formally approved by the relevant authority. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 22, Project Manager and Team Manager Roles
May 2400:03:06Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Project Manager is responsible for the day-to-day management of a project stage, reporting to the Project Board. - The Team Manager is an optional role responsible for executing specific Work Packages delegated by the Project Manager. - A critical exam distinction is the reporting line: The Team Manager reports to the Project Manager, who in turn reports to the Project Board. - Exam questions often test boundary conditions, such as the Project Manager's duty to escalate issues exceeding stage tolerance to the Project Board. - The Project Manager operates within the 'Controlling a Stage' process, while the Team Manager's domain is the 'Managing Product Delivery' process. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 21, Project Board — Executive, Senior User, Senior Supplier
May 2300:03:34Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Executive holds ultimate accountability for the project and champions the business case. - The Senior User is responsible for specifying user needs and ensuring benefits are realized. - The Senior Supplier represents the technical interests and guarantees the feasibility of the solution. - The Project Board operates by exception, making key decisions at stage boundaries, not managing day-to-day activities. - Exam questions often test the distinct responsibilities and potential conflicts of interest between the three core Project Board roles. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 20, Organizing — Four Project Management Levels
May 2200:03:17Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The highest level, Corporate or Programme Management, commissions the project and sets overall tolerances but is not part of the day-to-day project. - The Directing level is the Project Board, which is accountable for the project's success and makes key go/no-go decisions between stages. - The Managing level is the Project Manager's responsibility, focusing on the day-to-day execution within the tolerances set by the board. - The Delivering level is where Team Managers and teams create the specialist products as defined in Work Packages. - A common exam trap is confusing roles with headcount; one person can hold multiple roles in a PRINCE2 project structure. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 19, Benefits Management Approach and Realization
May 2100:03:30Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The crucial difference between the Business Case (the 'why') and the Benefits Management Approach (the 'how'). - That the Senior User, not the Project Manager, is the role accountable for realizing the project's benefits. - Why most benefits are measured and achieved only after the project has formally closed. - How benefits are formally reviewed at stage boundaries and post-project to ensure continued business justification. - The importance of handing over the Benefits Management Approach during project closure for long-term tracking. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 18, Business Case Composition — Outline vs Detailed
May 2000:02:59Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Outline Business Case is created in the 'Starting Up a Project' process to justify initiating the project. - The Detailed Business Case is developed during the 'Initiating a Project' process to secure full project funding. - Exam questions often use scenarios to test your ability to distinguish which Business Case is being developed based on the level of detail. - A common exam trap is forgetting that the Business Case is a living document, verified at each stage boundary to ensure continued business justification. - Use the mnemonic 'SU-O, IP-D' to remember that Starting Up produces the Outline, and Initiating produces the Detailed Business Case. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 17, Business Case Practice — Purpose and Justification
May 1900:03:22Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Business Case is the core PRINCE2 document providing the rationale for a project's existence and is compulsory for all projects. - The Project Board Executive, not the Project Manager, is the ultimate owner of the Business Case and is accountable for its viability. - The principle of 'Continued Business Justification' requires the Business Case to be a living document, reviewed and updated at every stage boundary. - A common exam trap is confusing the Business Case (the 'why') with the Benefits Management Approach (the 'how' of measuring benefits). - If a project's justification ceases to be valid at any point, the Business Case serves as the trigger to stop or fundamentally change the project. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →PRINCE2 Exam Prep 16, Change Management — The People Side
May 1800:03:01Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That project success hinges on people adopting new ways of working, not just on delivering a technical solution. - How the PRINCE2 exam tests your understanding of the difference between formal change control and organizational change management. - The critical role of the Project Executive (Sponsor) in actively championing the change to ensure benefits are realized. - Common exam traps related to low user adoption despite a project being on time and within budget. - A memorable mnemonic, CARE (Champion, Awareness, Reinforcement, Engagement), to recall the key aspects of the people side of change. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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