This is the first topic of "070-542" Examination Guide which I am reading to prepare for the examination.

An information management policy is a set of rules for a certain type of important content. Policy enables administrators to control and evaluate who can access the information, how long to retain information, and how effectively people are complying with the policy itself. The most common creators and enforcers of policy are compliance officers, records managers, IT staff, and others with similar responsibilities.

With Microsoft Office SharePoint Server 2007, you can apply policies that enable you to manage your content according to your business processes. Office SharePoint Server 2007 contains several policy features you can customize for your needs, as well as an extensibility framework that enables you to create, customize, and deploy your own policies and policy features.

By using policies, you benefit in the following ways:

• Administrators can set and manage "the rules" for a content type from a single location, including both client-side and server-side policy features.
  
• Policies are tightly coupled to the content, both within Office SharePoint Server 2007 and in downloaded Microsoft Office system content. Administrators can be confident that policies applied to content are always being enforced, wherever the content goes within their company.
  
• Policies require little involvement from end users, as corporate policies are automatically and transparently followed.
  

In Office SharePoint Server 2007, each policy is a collection of instruction sets for one or more policy features. Each policy feature provides a specific kind of content management functionality. You can assign a policy to either a content type or a list.

For more information about content types, see Content Types in the Microsoft Windows SharePoint Services 3.0 SDK.

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I passed my second Sharepoint 2007 exam on Monday. The exam was very easy because most of the questions it asks can be answered based on my MOSS Experience. I am now looking towards 70-542 MOSS 2007 Development Examination. The exam guide is absolutely long but great as I am going to read the things that I was planning for months now. But any way best of luck to me.

Jerry

If you are looking to Deploy Project Server 2007 and MOSS 2007 on the same machines please read the below article

Updated: February 15, 2007

This article describes how to deploy Microsoft Office Project Server 2007 to an existing deployment of Microsoft Office SharePoint Server 2007.

This is one of three deployment scenario in deploying Office SharePoint Server 2007 with Office Project Server 2007. The other two scenarios are:

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Command-line reference for the SharePoint Products and Technologies Configuration Wizard (Windows SharePoint Services)

Updated: December 13, 2006

In SharePoint Products and Technologies, you can use the psconfig.exe command-line tool as an alternate interface to perform several operations that control how the SharePoint Products and Technologies are configured. You must be a member of the Administrators group on the local computer to perform these operations.

In this article

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http://technet2.microsoft.com/windowsserver/WSS/en/library/eae2818a-e247-43c2-932f-f914f271d8a41033.mspx?mfr=true