File Name: project management calculations and formulas .zip
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It is a universal fact that at any stage of Project management , project managers are required to perform simple as well as complex computations and calculations for their projects. This guide will take you through the most important PMP formulas used to perform these computations. Currently, PMP Certification online training is also available. Listed below are the important PMP Exam formulas one needs to have an understanding about:. Some pre exam tips according to experts are:. By Simplilearn Last updated on Feb 2, Are you a professional that is aspiring to be a Project Manager?
You might be looking for a PMP cheat sheet that can help you with formulas based questions in the PMP certification exam. It is available as a free downloadable pdf in this post. There are about mathematical based problems in the PMP test. These are quite simple. You just need to know the formulas and their application to crack these questions.
Project Management is a structured discipline. And the basics are rigorous and logical. Math, maths, or mathematics? Well, mathematics is just a bit of a mouthful. Worse: it sounds ugly. Formulas or formulae? But even then early s , the Oxford English Dictionary allowed both forms of plural — as does Fowler.
Master of Project Academy Material - Cannot Be Sold, Copied or Earned Value Management Formulas This is calculated by Present Value (PV) formula.
Are you preparing for PMP certification exam? If yes, there are some significant subject areas you should focus upon. You may find a number of simple and direct questions based on the PMP formulas in the exam asked to check the understanding of these formulas.
Do you have troubles with recalling PMP Formulas? There is a number of areas you need to focus on to set yourself on the right track. One of the parts that some PMP aspirants consider difficult is the math calculations. Do not skip this post! We use PMP formulas in various project planning activities. These include but not limited to resource management, cost management and schedule estimation. We also use them in risk estimation activities like EMV earned value management , in addition to monitor and control activities.
In fact, many say that the most difficult part of the exam is learning all the PMP formulas. Further, many of the calculation-based questions are based on these top 8 cost management formulas. Take a look at the first four PMP formulas above and try to find out the commonalities in them. Not getting it yet? Yes, the easiest part is Earned Value EV.
We are going to look at these elements in detail. Therefore, I request you go through every step thoroughly. Therefore, understand the concepts well before proceeding further. The calculations for finding Planned Value, Earned Value, and Actual Cost are simple, and once you understand them, the rest will be simple. Planned Value is the approved value of the work to be completed in a given time. You calculate Planned Value before actually doing the work, which also serves as a baseline.
Earned Value is a method of calculating project status. After applying the earned value method the project manager will know whether the project is:. In this post we will outline each formula in the earned value management system. The first three are inputs obtained from project data, and the rest are outputs calculated by the project manager which give various indications of project status. It is calculated from the project budget.
Plus, there is not much questions that would require you to make use of the calculator. You can click the link to read the article for free. Learn PMI-ism First! If you find this post helpful and if you are thinking of buying from Amazon, please support the running cost of this website at no extra cost to you by searching and buying through the search box below. Thank you very much for your help! Edward Chung aspires to become a full-stack web developer and project manager.
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