PMP Exam Prep Formula

PMP (Project Management Professional) exam needs a set of formulas. A brief overview of the list of formulas to be used is given below. Q U A L I T Y CoQ = ( ( Review Efforts + Test Efforts + Training Efforts + Rework Efforts + Efforts of Prevention) / Total Efforts) x 100 % PERT = O + 4ML + P MEAN - Average MODE -The “most found” number RANGE -Largest - Smallest Measure. MEDIUM -No in the middle or avg. of 2 middle Nos STD. DEV. OF TASK = P - O TASK VAR. = (P – O) 2 = Std. Dev ^ 2 CP STD. DEV. = √ σ² + σ² + σ² SIGMA 1 = 68.26 2 = 95.46 3 = 99.73 6 = 99.99 Channels of Communication COMM = (N2 - N) / 2 = (N x (N – 1)) / 2 P R O J E C T S E L E C T I O N PV = F V / (1+r)ⁿ FV = PV x (1+r) NPV = S ( PV + PV + PV + PV )/(1+r)ⁿ (1+r)ⁿ (1+r)ⁿ (1+r)ⁿ Cash Flow = Cash Inflow – Cash Outflow Discounted Cash Flow = CF x Discount Factor ARR = S Cash Flow / No. of Years ROI = (ARR / Investment) * 100 % BCR = Benefits / Cost Exp. Value = Probability % x Consequence $ Class of Estimates Definitive +5% Capital Cost +10-15% Appropriation +15-25% Feasibility +25-35% Order of Magnitude > +35% Contract Incentives Savings = Target Cost – Actual Cost Bonus = Savings x Percentage Contract Cost = Bonus + Fees Total Cost = Actual Cost + Contract Cost E A R N E D V A L U E A N A L Y S I S PV (Present Value) = BCWS (Budgeted Cost of Work Schedule) EV (Earned Value) = BCWP (Budgeted Cost of Work Performed) AC (Actual Cost) = ACWP (Actual Cost of Work Performed) CV = EV – AC CPI = EV / AC (efficiency) SV = EV – PV SPI = EV / PV ETC = BAC – EV or (BAC – EV) / CPI EAC = AC + ETC EAC = BAC / CPI VAC = BAC – EAC % COMPLETE = EV / BAC x 100 % SPENT = AC / BAC x 100 CV% = CV / EV x 100 SV% = SV / PV x 100 PMP Quiz inputs tools output Prep : Integration Management What is the sequence of processes in Integration knowledge area? A. develop preliminary project scope statement, develop project management plan, develop project charter, monitor and control project work, close project B. Develop project charter,develop preliminary project scope statement, develop project management plan, direct and manage project execution,monitor and control project work, integrated change control,project closure C. cost estimating,cost control,cost budgeting D. quality assurance,develop project management plan,quality control Answer : B In which process group(project phase) will develop project charter,develop preliminary project scope statement fit in? A.Initiation B. Planning C. Closing D. Executing Answer : A In which process group will develop project management plan fit in? A. Closing B. Execution C. Planning D. Monitoring and Controlling Answer : C In which process group will direct and manage project execution fit in? A. Planning B. Execution C. Closing D. Initiation Answer : B In which process group will monitor and control project and integrated change control fit in? A. Planning B. Closing C. Monitoring and controlling D. Execution Answer : C In which process group will close project fit in? A. Planning B. Execution C. Initiation D. Closing Answer : D What are the tools and techniques used in common across all the Integration knowledge area processes? A. PMIS,Project Management Methodology B. Expert Judgement,PMIS C. Stakeholder analysis D. Product Analysis Answer : A What are the inputs to develop project charter? A. Enterprise environmental factor,organisational process asset,contract(when applicble),contract statement of work(SOW) B. organisational process asset, project management plan C. Resource calendar D. Cost Baseline Answer : A What is the output of Develop project management plan? A. Project quality Management Plan B. Project Scope Management Plan C. Project Management plan D. Project scope statement,WBS Answer : C What is the output of Direct and Manage project execution? A. Project Management Plan B. Project Scope Management Plan C. Deliverables D. Project scope statement,WBS Answer : C What is the output of Integrated change control (ICC)? A. Project Management Plan B. Project Scope Management Plan C. Approved change requests,rejected change requests D. Project scope statement,WBS Answer : C What is the output of develop premilinary project statement? A. Project Management Plan B. Project Scope Management Plan C. Preliminary project statement D. Project scope statement,WBS Answer : C What is the tool of Develop project charter process? A. Project Management Plan B. Project Scope Management Plan C. Project selection method,project management methodology,expert judgement D. Project scope statement,WBS Answer : C What is the input to develop project management plan? A. Project Management Plan B. Project Scope Management Plan C. Project management processes D. Project scope statement,WBS Answer : C What is the input to direct and manage project execution? A. Project Management Plan B. Project Scope Management Plan C. Project charter D. Project scope statement,WBS Answer : A Scope Management What is the output of scope verification? A. Project Management Plan B. Project Scope Management Plan C. Accepted deliverables,requested changes,recommended corrective action D. Project scope statement,WBS Answer : C Time Management What is the output of Activity resource estimation? A. Project Management Plan B. Project Scope Management Plan C. Resource calendar D. Project scope statement,WBS Answer : C Cost Management What is the output of Cost Estimating? A. Project Management Plan B. Project Scope Management Plan C. Cost Management Plan (updates) D. Project scope statement,WBS Answer : C Quality Management What is the output of Quality planning? A. Project Management Plan B. Quality checklist,quality baseline C. Project Charter D. Project scope statement,WBS Answer : B HR (Human Resources)Management What is the output of Human resources planning? A. Project Management Plan B. Project Scope Management Plan C. Staffing Management Plan D. Project scope statement,WBS Answer : C Communication Management What is the output of Communication Planning? A. Project Management Plan B. Project Scope Management Plan C. Communication Management Plan D. Project scope statement,WBS Answer : C Risk Management What is the output of Risk identification? A. Project Management Plan B. Requested changes C. Risk register D. Project scope statement,WBS Answer : C Explanation :Risk Register the term that is encountered in every project management/risk management resource is so important that it serves as the repository of all the risks identified during risk identification phase. Risks idetified to occur during various processes/phases in a project are updated in risk register. At the completion of each phase risk register is referenced and updated accordingly. Procurement Management What is the tool used in selecting sellers? A. Project Management Plan B. Project Scope Management Plan C. seller rating system D. Project scope statement,WBS Answer : C Ethics Professional & Social Responsibility Who is the authority to take care of violations relevant to PMP certification? A. Federal government B. CEO C. HR Manager D. PMI (Project Management Institute) Answer : D Project Management Processes What is the output of Select sellers? A. Project Management Plan B. Project Scope Management Plan C. Project Charter D. Contract Management Plan Answer : D