We have gone through the 15 PMP formulas you must know to answer PMP math questions correctly. We have prepared a PMP Formulas PDF. Master of Project Academy Material - Cannot Be Sold, Copied or Redistributed. 1. Madison Ave, New York. PMP Quick Reference. Guide for Math Formulas. Difficult math formulas for the PMP exam. PMP® Formulas .. Click to download this PDF document with a good number of formula-based questions. Test your.
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PMP Formulae & Tips – Cheat Sheet ☺. Integration Management – Develop Project Charter process – Project Selection Methods (>> Benefit Measurement. Important Formulas for the PMP® exam. Page 1. Investment Appraisal. Payback Period: • Payback Period is achieved when the cumulative cash flow becomes. You can download the pdf sheet by joining my PMP exam prep FB group. it beside your study table for quick reference while doing mathematical questions.
Then you need to rethink your exam strategy!
Although the number seems small, PMP formulas are quick wins, because PMP formulas based questions vary from direct to complex. As a result, a low value of SD indicates that the data points are close to the Average.
On the other hand, a high value of SD indicates the spread out of data points over a large range.
PMP Math Questions
Activity variance calculation involves taking the square of activity standard deviation. On the other hand, to calculate the start of the range you subtract Duration Standard Deviation from Estimated Activity.
That didn't look so good. She asks us to dig into that a bit further. We are working at half the speed that we planned.
This is where the project is struggling! We had better stop doing project management formulas and start helping our team get the work done! As we mentioned earlier, one of the emerging trends in project management is the new approach to schedule variance.
Since the calculation of these components is relatively complicated, we believe it is unlikely that you will be required to make any calculations on the exam that involves ES and AT. In other words, it's the total cost we originally planned minus the total cost that we now expect. Our sponsor is going to want to know about that too. There are several ways to calculate ETC in project management but this is the simplest and easiest to use in straightforward situations.
What if my situation isn't straightforward?
There are 4 other ways to define and calculate ETC. It's worth a mention because it's one of the PMP exam formulas that people find most difficult.
10 PMP Math Questions You Should Be Able to Answer
We know that the smartphone project has already had the budget re-estimated once so it's best to use the latest figures. We're going to use the EAC to work it out. TCPI on our development project is 0. In order to get the intuition behind TCPI, let's break the formula in two parts. Hence, the TCPI gives you the ratio of work that needs to be completed and the money available to complete the project. The smartwatch app project started off looking quite good but we had to re-estimate the budget and we uncovered that we aren't getting through the tasks as quickly as we need to.
In fact, the amount of work to do is unlikely to get done in time if we only apply the same amount of effort as we are now. We made it through all the earned value management formulas. Here's a table that summarizes all of that.
If you're creating a PMP formula sheet for your exam revision, there are a few more calculations that you'll want to include. Click to download this PDF document with a good number of formula-based questions. Test your knowledge right now Section 1 - Self-Assessment Questions: The difficulty level of these questions is easy to medium.
They are intended to measure general understanding of formula concepts. Section 2 - Answers and Explanations: In this section we repeat the question and then give you the answer, explanation and a reference where you can read up on the topic. Ah, standard deviation! Doesn't this take you back to high school math.
Standard deviation is simply a reflection of the uncertainty in the estimates. It just highlights the variability of an activity in statistical terms and you use it when an activity has different estimates: There's a task on the smartwatch app project to build the notification tools, so that when something new happens the user gets an alert.
Given that we haven't done this task before we want a good understanding of the risk and we've used subject matter experts from an agency to help estimate the work.
The pessimistic estimate is 12 hours. The optimistic estimate, if we had an expert developer in-house, is 5 hours. Pop those into the formula and we get:. The larger the standard deviation, the greater the risk. The risk level on this task seems OK but we can always take it to our sponsor for a second opinion. You have another tool to help you estimate: It's a three point estimate for the expected duration of a schedule activity using pessimistic, optimistic and most likely durations.
CAPM / PMP Formulas Cheat Sheet Based On PMBOK Guide 6th Edition
Let's see what the weighted average is for the task to build the notification module of our smartwatch app. First, we need another piece of data: That gives us:. Now there's a number our sponsor can understand. The sponsor isn't the only person on the project team who needs to know this information. The team is only 6 people but there are still multiple communication channels.
How many exactly? Well, there's a communication channels formula to work that out! In the formula, 'n' stands for the number of people. On our project, the communication channel math looks like this:.
This article has covered the most common PMP formulas but the best way to really get to grips with them is to practice using them frequently. Another great way to practice is to do sample exam questions.
This free batch of sample PMP math questions will help you see where you need to build your skills. The following two articles will introduce you to a couple of important concepts and tools for the exam:. Mastering these formulas is more than simply knowing them! You have to know how to apply them to a given question scenario and you may even have to apply TWO formulas. Being able to do this takes time and practice. Don't expect miracles overnight.
Here is my recommended approach:.
Knowing and understanding all the formulas and their variations, concepts, keywords, value and acronyms may seem daunting at first. But if you plan on taking just one small step forward every day and practice, practice, practice, then you'll soon find that the calculations start to come naturally.
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10 PMP Math Questions You Should Be Able to Answer
Share Tweet Share Pin Share. In This Article Sample Question Answer and Explanation Tab. Develop Schedule Control Schedule Project Cost Management Estimate Costs Determine Budget Control Costs Project Quality Management Plan Quality Perform Quality Assurance Develop Human Resource Plan Acquire Project Team Develop Project Team Identify Stakeholders Plan Communications Distribute Information There would be download link in the first automated mail that you would have received from LinkedIna.
I accidentally used EF of the present activity instead of ES. Estimate Activity Resources December 15, at Section 2 - Answers and Explanations: OPA include plans, processes, policies, procedures and knowledge bases specific to and used by the performing organization. This is just simply confusing! You can download the pdf sheet by clicking on the following button. Thanks for reaching out to us. I hate reinventing something the wheel.
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