What formulas do I need to know for PMP?
For the application of these PMP formulas, you must know the terms:
- Earned Value = EV.
- Planned Value = PV.
- Actual Cost = AC.
- Cost Variance = CV.
- Schedule Variance = SV.
- Cost Performance Index = CPI.
- Schedule Performance Index = SPI.
- Budget at Completion = BAC.
What is the project management formula?
EAC = AC + (BAC – EV) The EAC is the expected total cost of completing all work expressed as the sum of the actual cost to date and estimate to complete. This method for calculating EAC accepts the actual project performance to date and predicts that all future ETC work will be accomplished at the budgeted rate.
Is there math on the PMP?
In PMP Exam out of 200 there are almost 30-40 Questions that involves Mathematical Formulas, Equations and numerical. So even if you are not good at Maths you just cannot ignore them. This is something that is not easy to master just by reading PMBok Guide or some other text book.
How many formulas are there in PMP?
Cost Management Knowledge Area PMP Formulas Although there are more than 25 project management formulas that you might need to tackle during the exam, there are a few cost management formulas that are very important, and which you’re likely to encounter more than once during the exam.
How do you calculate PV and PMP?
The formula for calculating Planned Value is: PV = % of project completed (planned) x Budget at completion (BAC – Budget at Completion which is the total budget of the project).
What is the effective five step formulas from project management called?
Developed by the Project Management Institute (PMI), the five phases of project management include conception and initiation, planning, execution, performance/monitoring, and project close. PMI, which began in 1969, is the world’s largest nonprofit membership association for the project management profession.
Can PMP exam be taken from home?
You will be able to take the PMP certification exam from your home with your internet-connected PC or tablet. Taking in-person PMP exam requires to find a suitable PMP exam schedule in a Pearson VUE test center.
How difficult is it to pass the PMP exam?
The PMP exam is known for being hard, but PMI doesn’t disclose specific statistics about the passing score or failure rate. Some project expert surveys estimate the failure rate at around 40-50%, meaning only about half of the first-time test takers pass the PMP exam.
What should I memorize for the PMP exam?
You should memorize the Project Management Process Group and Knowledge Area Mapping matrix from the PMBOK® Guide and learn the documents created during the Initiating and Planning stages and know what each one does.