PMP Formulae
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PMP Formulae - Marcador
PMP Formulae - Detalles
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Preguntas:
79 preguntas
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Early start + duration | Early Finish in schedule management |
Late Finish - duration | Late start in schedule management |
Late start - Early start (OR) Late finish - Early finish | Float / slack in schedule management |
A cost buffer kept aside for unknown risks Controlled by the project sponsor It is not part of BAC but part of Project budget | Management reserve |
A cost buffer set aside for known risks Controlled by the project manager It is part of the BAC | Contingency reserve |
BAC + management reserve | Project budget |
Is the budget allocated by the sponsor Includes the contingency reserve Cost of resources + Contingency reserve | BAC ( Budget at completion) |
Direct Indirect Fixed Variable | Type of costs |
Activities that are usually done in a sequence and done in parallel to reduce the duration of the activity | Fast tracking |
Scope statement + WBS + WBS dictionary | Scope baseline |
Earned value - Planned value EV - PV +ve value indicates project is ahead of schedule -ve value indicates project is behind schedule | Schedule variance(SV) |
Earned value - Actual cost EV - AC +ve value indicates project is under budget -ve value indicates project is over budget | Cost variance(CV) |
Earned value/Planned value EV/PV SPI > 1 indicates project is ahead of schedule SPI < 1 indicates project is behind schedule | Schedule performance index(SPI) |
Dollar value of work completed | Earned value(EV) |
Earned value/Actual cost EV/AC CPI > 1 indicates project is ahead of schedule CPI < 1 indicates project is behind schedule | Cost performance index(CPI) |
Value of total work - Value of work completed BAC - EV | Value of work remaining |
Money required to complete remaining work (BAC-EV)/CPI | Estimate to complete(ETC) |
Total cost at completion BAC/CPI (OR) ETC + AC | Estimate at completion(EAC) |
BAC - EAC | Variance at completion(VAC) |
Dollar value of work remaining/Dollar value of funds remaining (BAC - EV)/(BAC - AC) | To complete performance index(TCPI) |
Measurable amount of acceptable risk Eg: We can take a risk of upto $100,000( I am not to take risk upto a certain amount) | Risk tolerance |
Subjective risk analysis Identifies impact as High, medium or low | Qualitative risk analysis |
Objective risk analysis Uses numerical values to identify the impact | Quantitative risk analysis |
Probability * Impact P*I | Expected monetary value(EMV) |
TEAM A Transfer Escalate Avoid Mitigate Accept | Strategies for threats |
EASEE Escalate Accept Share Exploit Enchance | Strategies for opportunities |
There is a procurement department and the procurement manager reports organizationally to the head of the procurement department not the project manager | Centralized contracting |
No procurement manager. The project manager takes care of the procurement planning, conducting and controlling the procurement | Decentralized contracting |
Request for information (RFI) Invitation for bid (IFB) Request for Quotation (RFQ) Request for proposal(RFP) | Types of Bid documents |
Target cost + Target fee | Target price |
Actual cost + Final fee | Final price |
The buyer prepares estimates to use it as a benchmark against which the vendor provided bids are validated | Independent cost estimates |
Most commonly used contract type | Fixed Firm Price |
Review of the work performed | Inspection |
Uncontrolled changes in the project scope, with no adjustments to time, cost and resources | Scope creep |
COPE C = Project Charter O = Organizational process assets P = Project management plan E = Enterprise environmental factors | Inputs to Plan scope management |
EDM E = Expert judgement D = Data analysis M = Meetings | Tools and techniques of Plan scope management |
RS R = Requirements management plan S = Scope Management plan | Outputs of Plan scope management |
PIECD Data(RAG) P = Prototypes I = Interpersonal and team skills E = Expert Judgement C = Context diagrams D = Decision analysis Data (RAG) = Data representation, Data analysis, Data gathering | Tools and techniques of Collect requirements process |
Measurable Consistent Traceable Testable Unambiguous Acceptable Complete | Characteristics of a requirement |
Hierarchical decomposition of the total scope of work to be carried out by the project team | Work Breakdown Structure(WBS) |
Lowest level of work breakdown structure | Work Package |
Technique to determine the cause and degree of difference between the baseline and actual performance | Variance analysis |
A method used to determine the minimum project duration and determine the amount of schedule flexibility on the logical network paths within a schedule model | Critical path method |
The series of phases that a project passes through from its start to its completion | Project Life cycle |