Formulas

Question 1

Formula for Estimate to Complete

Answer 1

ETC=BAC-EV - for atypical variance, assumes future work to be performed as budgeted
ETC=(BAC-EV)/CPI or BAC-AC - for typical variance, assumes past perf to continue throughout.
ETC is the forecasted amount of money it will take to complete from this point going forward (vs. EAC which is the forecasted amount it will cost at the end of the project vs BAC which is the budgeted cost for the project set at the beginning of the project).

The distinctions are subtle, but if your EAC is higher than your BAC you may have risk or perf problem with the project (deviation from plan). They are equal at the start of the project but as perf metrics are factored in EAC and ETC change.

Question 2

Formula for Estimate at Completion

Answer 2

EAC=BAC/Cumulative CPI - Assumes past performance will continue throughout (aka typical)
EAC=AC+Bottom-up ETC - use when original estimate is flawed.
EAC=AC+BAC-EV - Assumes future work perf as budgeted. (aka atypical)

Question 3

Formula for Schedule Variance

Answer 3

SV=EV-PV

Scheduled Variance=Earned Value - Planned Value

Question 4

Formula for Schedule Performance Index

Answer 4

SPI=EV/PV >1 is ahead of schedule

SPI = Earned Value / Planned Value

Question 5

Formula for Cost Variance

Answer 5

CV=EV-AC

Cost Variance=Earned Value-Actual Cost

Question 6

Formula for Critical Path

Answer 6

Start date + critical path duration - 1d = Finish date

Question 7

Formula for TCPI

Answer 7

To Complete Cost Performance Index (TCPI)
TCPI [BAC] = ( BAC - EV ) / ( BAC - AC )
TCPI [EAC] = ( BAC - EV ) / ( EAC - AC )

Question 8

Formula for Duration

Answer 8

Duration=(Quantity of work x Productivity rate) / # of resources

Question 9

Number of communication channels

Answer 9

n(n-1)/2

Question 10

PV

Answer 10

PV=BAC x (time passed/total schedule time)
Planned Value=Budget at completion x time passed/total schedule time
Planned Value represents the approved budget that has been allocated to complete a scheduled task during a specific time period at this point in the schedule AKA BCWS (Budgeted Cost Work Scheduled).

Question 11

EV

Answer 11

EV=BAC x (Work completed/total work required)
Earned Value=Budget at completion x work completed/total work required)
Earned Value represents how much value should have been earned by work that has been completed up to this point in time. AKA BCWP (Budgeted Cost Work Performed)

Question 12

Distortion vs. Distraction

Answer 12

Distortion - static or garbled message

Distraction - blinking light

Question 13

FAIRNESS vs RESPECT vs HONESTY vs RESPONSIBILITY

Answer 13

Fairness - acting impartially and objectively
Respect - showing a high regard for others and resources you are entrusted with
Honesty - being truthful in your actions and conversations
Responsibility - the duty of taking ownership of decisions, actions, and their consequences

Question 14

code of ethics vs. code of conduct

Answer 14

Code of ethics is aspirational principles you should follow (make decisions in the interest of safety/society),
Code of conduct is mandatory rules on what employees can and can’t do

Question 15

change log vs. issue log

Answer 15

Change log documents and tracks the status of change requests. Issue log documents and tracks issues that may or may not become change requests.

Question 16

responsibility

Answer 16

our duty to take ownership for the decisions we make or fail to make, the actions we take or fail to take, and the consequences that result.

Question 17

CPI

Answer 17

CV=EV/AC

Cost Variance=Earned Value/Actual Cost

Question 18

SPI

Answer 18

SPI=EV/PV

SPI=Earned Value/Planned value

Question 19

Three point estimates

Answer 19

w1(To) + w2(Tp) + w3(Tp) /total of weights

Ex. 1(1) + 1(4) +4(3)/6=Three point estimate

Question 20

ETC

Answer 20

ETC=EAC-AC

Question 21

Std Deviation on a PERT estimate

Answer 21

(P-O)/weight <=usually 6

(Pessimistic-Optimistic)/6

Question 22

EV formula

Answer 22

EV = Actual % complete * BAC
EV = 6/7 * BAC
in this case I was asked to evaluate a 7 week project on week 7, but it was a week behind hence 6/7

Question 23

Formula for Total Float

Answer 23

Float = Late Start (LS) – Early Start (ES)
or
Float = Late Finish (LF) – Early Finish (EF)

Question 24

Theory Z

Answer 24

Management Theory that says that giving workers jobs for life motivates them to perform their best.

Question 25

Administer Procurements is the same as

Answer 25

Control Procurements