Estimate at completion eac if cpi remains the same. As you prepare for the pmp exam, some of the most important things you should know are the pmp formulas. Here is a summary of all the formulas in the pmbok 6th edition guide that you may see on your. Cv ev ac notice that the cost formulas are the same the only sv ev pv difference is the minus. Basic pmp formulas free download as powerpoint presentation. Sep 28, 2014 how to learn the formulas the easy way now complete the next parts of the formulas. Pmp credential examination, this article can help you a lot. Project professionals are divided about the significance of practicing earned value management evm. Pmi practice standard for earned value management, see. There are earned value analysis formulas, 7 financial measures formulas and 7 additional formulas.
Pmp formulas and calculation for the certification demystified. This assumes the to date cpi will continue in future. The complete pmp formula guide formulas and calculations take up roughly 10% of the pmp exam. Formulas to know for exam master of project academy blog. Variance at completion vac bac eac bac budget at completion eac estimate at completion 0 over budget. Project managers best aid in performing their operations involves widespread application of mathematical formulas in relation to the 10 project management knowledge areas. As part of evm, you use the following information to assess. This paper argues that the latter group misunderstands evms purpose, process, and tools. Pmp formulas pmbok 6th edition here are 27 pmp formulas that are required for the pmp examination.
You will be able to solve the calculation questions in the certification exam. The above 17 pmp formulas are all that youll need for the pmp exam. If you wish, you can download the pmp formulas table above as a pdf file instantly for your future. Forecasting eac eac bac cumulative cpi when etc work i. Eac formulas, definitions, examples for doing pmp calculations. May 28, 2018 earned value 50% of the value of total work. Example 1 extrapolation of the current cost variance. Pmp formulas and calculations advanced guide with examples. You can find all the mentioned pmp formulas in this pmp formulas pdf.
How to learn the formulas the easy way now complete the next parts of the formulas. The estimate at completion eac gives the amount of money the project will cost at the end. The basic premise of earned value management evm is that the value of a piece of work is equal to the amount of funds budgeted to complete it. Estimate at completion eac a project forecasting tool pm. Sep 27, 2019 cost management knowledge area pmp formulas. Apr 27, 2020 we have prepared a pmp formulas pdf including all these formulas. These formulas will definitely helpful for solving pmp exam questions. Oct 04, 2019 the pmp exam assesses your ability to understand the concept of eac as well as the correct application of eac in each projectso you need to understand the different ways of calculating eac. Variance at completion vac bac eac bac budget at completion eac estimate at completion 0 over budget helps you determine if you will be over or under budget on completion.
If you enjoyed reading this post, check out all of our post on pmp concepts learning series. Eac bac cpi where cpi ev ac or eac ac ev bac both formulas with same result. Pmp quick reference guide for math formulas master of project. As you prepare for your pmp exam, youll be ready to calculate various formulas related to eac and etc by remembering.
Learning pmp formulas the easy way a step by step process to learn the. Pmp online practice test can be accessed on windows pclaptop, mac, iphone, ipad, android phone or android tablet. Memorize these formulas and do a braindump of these formulas on a piece of paper before you begin your exam. In this training, you will learn how to memorize pmp exam formulas in under 10 minutes. Pmp and testtaker are not affiliated with or endorsed by either prometric or pmi in any way. Estimate at completion eac a project forecasting tool. There are earned value analysis formulas, 7 financial measures formulas and 7. The estimate at completion can be determined by four methods, depending on how the project is. As the project progresses the bac may need to be revisited based on the project forecast the estimate at completion eac. Although, pmi does not give a specific breakdown on the number of formula questions you can expect, as a former tester, i can assure you, if you do not know these formulas, a magic 8ball might warn, outlook not so good. There are four general categories for eac calculation. This lesson explores several ways to calculate the estimate at completion for a project. Although there are more than 25 project management formulas that you might need to tackle during the exam, there are a few cost. Each pmp formula has been described in a proper way to understand the formulas name, the formula itself, terms used in the formula, and interpretation if any.
The formula can be used for the whole of the work to date cumulative, for a set time. Pmp formula calculation made easy for you pm sprout. We will show you an unique mnemonic to use so be sure to stay until the end. I see there are 4 types of eac forecast calculation formulas available, but confused when to use each type.
The most complete project management glossary for professional project managers. The budget at completion bac is determined at the start of the project. Designed to help those that are preparing to take the pmp or capm certification exam, each post within this series. Looking at a career as a certified project management professional pmp. Earned value formulas acronym term definitions do not reproduce in pmp exam formula pv planned value ev earned value ac actual cost bac budget at completion sv schedule variance ev pv cv cost variance ev ac spi schedule performance index ev pv cpi cost performance index ev ac % complete percent complete ev bac x 100 eac 1. The estimate to complete etc formula is essentially an inversion of the eac calculations, so if you can do that one, you can work this one out easily. The estimate at completion can be determined by four methods, depending on how the project is performing.
Project management professional pmp exam formula cheat sheet based on project management body of knowledge, p mbok guide fourth edition earned value management formulas bac budget at completion ev actual % complete bac pv planned % complete bac ac sum of all acutal costs cv ev ac sv ev pv cpi ev ac jan, 2020 i have created a comprehensive pmp formulas cheat sheet based on pmbok guide 6th edition. Its hard to say the exact number of calculation questions that you will get on your exam because the. This is the calculate eac depending on the assumptions made. Pmp formula study guide the formulas you need for the pmp exam. Pmp formulas are very vital to pass the pmp certification exam. If you are interested in learning all the mathematical formulas for the pmp exam, you can try my pmp formula guide. Simply put, it is the amount of money you have spent on the project to date. Jun 01, 2017 as you prepare for the pmp exam, some of the most important things you should know are the pmp formulas. Pmp formulas cheat sheet wisdom depot project management. Aug 24, 2018 in this training, you will learn how to memorize pmp exam formulas in under 10 minutes. Eac estimate at completion bac cpi the ratio of budget at. Although there is no fixed number of questions from this area, a general. The prometric and pmi logos displayed here are for user reference and site content recognition as this site pertains to exam preparation materials for the pmp certification exam which is a proctored exam offered by prometric. Different ways to calculate the estimate at completion eac.
Apr 11, 2019 the formulas table below summaries the most important pmp formulas that aspirants would need to understand plus learn by heart in order to be able to answer pmp maths questions correctly. May, 20 the rest of the formulas are similar in that they all start with ac, the actual cost up to now, and then they add an amount called the remaining work or bac ev, modified by some other factor. Its hard to say the exact number of calculation questions that you will get on your exam because the prometrics software selects 200 questions at random at the time of your exam. The top 8 formulas to memorize before your pmp exam. In doing so, it examines evms best practices and analyzes the approach to applying these tools. In this case, we use the following formula to find eac. Budget at completion vs variance at completion pmp exam. The below given pmp formula sheet represents the list of 25 pmp formulas to prepare. Dont assume that eac changes based on certain assumptions.
You will not be able to answer the correctly if you do not have the. Although, pmi does not give a specific breakdown on the number of formula. Top 20 pmp formulas to pass pmp certification exam take. Pmp exam complete training course materialresit gulec 1 not for distribution, sale or reproduction. In additional to this pmp formulas cheat sheet, you may want to check out the resource page for recommended resource and links to a collection of free exam questions. Here is the best collection of pmp formulas to help you pass the exam.
Actual cost is also known as actual cost of work performed acwp. If the first option of the formula is used, the cost. It is available as a free downloadable pdf in this post. Project management professional pmp exam formula cheat sheet. Download free pmp formulas cheat sheet for pmbok guide 6th. 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 youre likely to encounter more than once during the exam. From pmp certification allinone for dummies, 2nd edition.
However, from a pmp certification exam point of view, the first method is the most important. Estimate at completion eac formulas in project management march 8, 2020 december 25, 2011 by praveen malik, pmp you might be thinking why there are so many estimate at completion eac. You can view eac and etc graphically as scurves in the figure below. I have created a comprehensive pmp formulas cheat sheet based on pmbok guide 6th edition. Here are 27 pmp formulas that are required for the pmp examination. The assumption is made that the ev is somehow different than the pv, i. However, if you are still struggling with pmp formulas or you want some more guided. I can tell you from my personal experience that the eac calculation questions you.
Mar 08, 2020 estimate at completion eac formulas in project management march 8, 2020 december 25, 2011 by praveen malik, pmp you might be thinking why there are so many estimate at completion eac formulas in project management and how are they used for earned value management evm calculations. As its motto suggests, you can print and fold this onepager and keep it in your pocket wherever you go. This will help you select the right formula to crack a question on your exam. Earned value management terms and formulas for project. Jun 23, 2015 you can view eac and etc graphically as scurves in the figure below. The pmp certification exam will contain questions requiring the use of formulas to calculate the correct answer. The equivalent annual cost eac is the annual cost of owning, operating and maintaining an asset over its entire life. Cv ev ac notice that the cost formulas are the same the only sv ev pv difference is the minus or divide signs cpi ev ac notice that the schedule formulas are the same the spi ev pv only difference is the minus or divide signs eac for cost. Estimate at completion eac in project management video. All the pmp formulas and calculations pmbok 6th edition. Eac several formulas estimated cost of the project at completion, i. For some, it is an effective gauge of a projects progress.
88 445 943 1097 1077 1189 854 83 821 792 805 1369 427 804 1472 173 12 1200 1384 1322 195 385 476 1030 1098 1379 791 1227 567