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PMP With PMI > Formulas > Flashcards

Formulas Flashcards

1
Q

What does ETC stand for and definition

A

Estimate to Complete

The expected amount of money that you will have to spend to complete the remaining work.

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2
Q

What’s the estimate to complete formula

A

Estimate to complete = estimate at completion - actual cost

ETC = EAC - AC

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3
Q

What does BAC stand for and definition

A

Budget at Completion

The total budget allotted to the project.

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4
Q

What does EV stand for and definition

A

Earned Value

The value of work completed to date.

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5
Q

What does PV stand for and definition

A

Planned Value

The authorized value of work that has to be completion in a given period time as per the schedule.

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6
Q

What does AC stand for and definition

A

Actual Cost

The amount of money you have spent to date

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7
Q

What does SV stand for and definition

A

Schedule Variance

The difference between the early value planned value

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8
Q

What’s the schedule variance formula

A

Schedule variance = earned value - plan value

SV = EV - PV

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9
Q

If schedule variance is negative to you are __________ schedule

A

Behind schedule

If scheduled variance is negative, you are behind schedule

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10
Q

If schedule variance is positive you are _________ of schedule

A

Ahead of schedule

If schedule variance is positive, you are ahead of schedule

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11
Q

What does CV stand for and definition

A

Cost Variance

The difference between earned value and actual cost.

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12
Q

What’s the cost variance formula

A

Cost variance = earned value - actual cost

CV = EV -AC

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13
Q

If cost variance is negative you are __________ budget

A

Over budget

If cost variance is negative, you are over budget

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14
Q

If cost variance is positive you are __________ budget

A

Under budget

If cost variance is positive, if you are under budget

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15
Q

What does SPI stand for and definition

A

Schedule Performance Index

The ratio between the earned value and the planned value

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16
Q

What’s the schedule performance index formula

A

Schedule performance index = (earned value) / (planned value)

SPI = EV / PV

17
Q

If schedule performance index is greater than one you’re __________ of schedule

A

Ahead

It’s scheduled for appointments index is greater than one, you’re ahead of schedule

18
Q

If schedule appointments is less than one you’re __________ schedule

A

Behind

I Scheduled performance is less than one, you’re behind schedule

19
Q

What does CPI stand for and definition

A

Cost performance index

The ratio between the actual cost

20
Q

What’s the formula for cost performance index?

A

Cost performance index = (earned value) / (actual cost)

CPI = EV / AC

21
Q

If cost performance index is less than one you are __________ budget

A

Over budget

If cost performance index is less than one, you are over budget

22
Q

If cost performance index is greater than one you are ________ budget

A

Under budget

If cost performance index is greater than one, you are under budget

23
Q

What does EAC stand for and definition

A

Estimate at completion

the total amount of money that the project will cost you in the end, in case your original budget is no longer valid

24
Q

What is the estimate at completion formula if there is NO CHANGE

A

Estimate at completion = (budget at completion) / (cost performance index)

EAC = BAC / CPI

25
Q

What is the estimate at completion formula for ATYPICAL

Till now you have deviated from your budget estimate. However, from now onward you can complete the remaining work as planned.

A

EAC = AC. + (BAC - EV)

26
Q

What is the estimate at completion formula for TYPICAL

not always on exam

You were over budget, behind schedule, and the client is insisting that you complete the project on time

A

EAC= AC + (BAC - EV) / (CPI*SPI)

27
Q

What does ETC stand for and definition

A

Estimate to complete

the expected amount of money that you will have to spend to complete the remaining work

28
Q

What’s the formula for estimate to complete

A

Estimate to complete = estimate at completion -actual cost

ETC = EAC - AC

29
Q

What does TCPI stand for and definition

A

To complete performance index

the estimated cost performance for the project to meet the project budget goal

30
Q

What is the TCPI formula if you are under budget

A

TCPI = (BAC-EV) / (BAC - AC)

31
Q

What’s the formula for TCPI if you are over budget

A

TCPI = (BAC- EV) / (EAC -AC)

32
Q

What is the formula for communication channels

A

Communication channels =

n * (n-1) / 2

33
Q

Risk management what is the formula for expected monetary value

A

EVM = P* I

P is probability

I is the impact

34
Q

What are the four things to figure out at the start

A

Budget at completion

Planned value

Earned value

Actual cost

35
Q

What is the formula for earned value

A

EV = PV * % of work that’s completed

36
Q

What is the formula for TOTAL FLOAT?

A

TF = LS-ES or LF - EF

37
Q

What is the formula for FREE FLOAT

A

FF = ES (successor) - EF (present activity)

PMP With PMI (18 decks)

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