PRAIZION MEDIA PMP EXAM STUDENT’S CHEAT SHEET shaw. ?· praizion media pmp exam student’s cheat sheet (not to be redistributed.) ... cheatsheet author: praizion media

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  • Praizion Media PMP Students Cheat Sheet | DO NOT DISTRIBUTE

    Web: www.praizion.com Email: info@praizion.com 1

    PRAIZION MEDIA PMP EXAM STUDENTS CHEAT SHEET

    (NOT TO BE REDISTRIBUTED.) FV = PV (1 + i)

    n

    PV = FV / (1 + i)n

    Where: FV = Future Value or the net cash flow at time n, PV = Present Value

    i = interest rate also called rate of return; n = number of time periods or time of the cash flow

    Net Present Value (NPV): NPV = PVbenefits PVcosts or NPV = PVCash Inflows PVCashOutflows

    NPV>0 accept the project, NPV 1; benefits are greater than costs, BCR < 1; costs are greater than benefits

    BCR = 1; costs and benefits are the same

    Payback Period: Shorter Payback Period: select project, Longer Payback Period: reject project

    Total Slack (or Float) = LS ES or Slack (or Float) = LF EF

    Total Slack is the length of time that the start of an activity can be delayed without delaying the finish date of the

    project. Total slack may be positive or negative.

    Free Slack: The amount of time an activity can be delayed before delaying the start of a successor activity.

    Free Slack = ES of successor - EF of predecessor

    Project Slack: The amount of time a project can be delayed without affecting the required due date of the project.

    Three Point Estimates:

    TE = (TP + 4TM + TO)

    6

    Expected duration of the activity equals the sum of (pessimistic time + 4 times

    the most likely time + optimistic time) divided by 6.

    CE = (CP + 4CM + CO)

    6

    Expected cost of the activity equals the sum of (pessimistic cost + 4 times the

    most likely cost + optimistic cost) divided by 6.

    Standard Deviation and Variance Standard Deviation = (P O) 6 , Variance = [(P O) 6]

    2

    Earned Value Management: Earned Value (EV) or BCWP = %complete x PV or %complete x BAC

    Planned Value (PV) or BCWS Actual Cost (AC) or ACWP

    Formulas:

    EV = PV x %Complete

    Use when BAC is given

    Use when the PV at the end of the project is given. Multiply

    by the %Complete for the same time period; the resulting EV

    will be for the same time period also

    PV = Planned Value, BAC = Budget at Completion %Complete is the percentage of work complete as of the time

    period in question. BAC = Total PV or BAC = Total BCWS

    SV Formula: SV = EV PV or SV = BCWP BCWS

    If SV is: This means:

    Positive Work is on schedule or ahead of schedule

    Negative Work is behind schedule

    Equal to zero Project or activity is complete (even for late activities, SV will equal 0 when completed)

  • 2 Praizion Media PMP Students Cheat Sheet | DO NOT DISTRIBUTE

    Web: www.praizion.com Email: info@praizion.com

    CV Formula: CV = EV AC or CV = BCWP ACWP

    *Note: EV is also referred to as BCWP and AC is also referred to as ACWP

    If CV is: This means:

    Positive Cost is less than budget - work is under budget

    Negative Cost is more than budget - work is over budget

    Zero Cost and budget are equal. Work is on budget

    SPI Formula: SPI = EV PV or SPI = BCWP BCWS

    If SPI is: This means:

    Greater than 1 Project is ahead of schedule - good performance.

    Less than 1 Project is behind schedule - bad performance.

    Equal to 1 Project is on target

    CPI Formula: CPI = EV AC or CPI = BCWP ACWP

    If CPI is: This means:

    Greater than 1 Cost is lower than budget - good performance.

    Less than 1 Cost is higher than budget - bad performance.

    Equal to 1 Project is on target

    Estimate to Complete Formula: ETC = EAC - AC

    ETC = BAC EV Use when current variances are atypical

    ETC = EAC AC Use when EAC and AC values are available

    Estimate at Completion (EAC) Note where cumulative values (CPIc and SPI

    c are used)

    EAC formula: Use when:

    EAC = AC + ETC AC and ETC are available

    EAC = AC + BAC EV Current variances are not typical

    EAC = AC + [ (BAC EV) (CPI

    x SPI )] Current variances are typical; considering both CPI

    c and SPI

    c factors.

    EAC = BAC CPIc Current CPI

    c is expected to remain the same in future

    Variance at Completion (VAC) Formula: VAC = BAC EAC

    If VAC is This means:

    Positive Project is under budget

    Negative Project is over budget

    To-Complete Performance Index (TCPI)

    TCPI = Work Remaining = (BAC - EV) (BAC - AC) based on BAC or (BAC - EV) (EAC AC) based on EAC

    Funds Remaining

    Communications Requirements Analysis : Number of communication channels = n (n-1)/2

    Expected Monetary Value (EMV)

    Formula: EMV = (P1 x I1) + (P2 x I2) + . + (P n x I n)

    Where: P = Probability (i.e., the probability that the risk will occur, P), I = Impact (i.e., the impact on the project if the risk occurs), (P1 x I1) = probability x impact of 1

    st possible outcome for event

    (P n x I n) = probability x impact of the nth

    possible outcome for event

    Process Groups Mnemonic

    I PREFER EXTRA MONEY CASH

    Project Management Knowledge Areas Mnemonic

    IS TOTAL COST QUITE HIGH? CHECK REAL PRICE

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