Rmadayal - PMP Simplified Flashcards
Budget At Completion (BAC)
No Formula, its the original budget
Planned Value (PV) = ??
PV = (Planned % Complete) X (BAC)
Earned Value (EV) = ??
EV = (Actual % Complete) X (BAC)
Actual Cost (AC) = ??
None, total amount already spent
Cost Variance (CV) = ??
CV = EV - AC
Cost Performance Index (CPI) = ??
CPI = EV / AC
Schedule Variance (SV) = ??
SV = EV - PV
Schedule Performance Index (SPI) = ??
SPI = EV / PV
Estimate at Completion (EAC) = ??
What is it?
EAC = BAC / CPI
FORECAST!!
Estimate to Completion (ETC) = ??
What is it??
ETC = EAC - AC
How much money you need to finish the project (uses the latest forecast or EAC)
Variance at Completion (VAC) = ??
VAC = BAC - EAC
To-Complete Performance Index (TCPI) = ??
What is it??
TCPI = (BAC - EV) / (BAC - AC)
How hard you have to work to meet the budget (LESS THAN 1 is GOOD!)
i.e. TCPI of 0.8 means you only need to work 80% as hard to meet the budget or 20% less
i.e. TCPI of 1.2 means you have to work 20% harder to meet the budget
i.e. TCPI of 1 means teams needs to continue working at same pace (100%) to meet budget
PERT - Beta (Three Point Estimate)
(Optimistic + 4*Realistic + Pessimistic) / 6
PERT - Standard Deviation
(Pessimistic - Optimistic) / 6
PERT - Triangular Distribution
(Optimistic + Realistic + Pessimistic) / 3
Communication Channels
N(N-1) /2
Expected Monetary Value (EMV) = ??
Risk Cost * Probability %
Cost Baseline = ??
Project Cost + Contingency Reserves
Project X = Yields benefit of $250,000
Project Y = Yields benefit of $200,00
What is opportunity cost of selecting X over Y?
$200,000
How is SMART Defined??
Specific
Measurable
Attainable
Relevant
Time-Bound
Definitive Estimate % Range
-5% to +10%
Budget Estimate % Range
-10% to +25%
Rough Order of Magnitude Estimate % Range
-25% to +75%
Cost Baseline = ?
Project Work + Contingency Reserve
Project Budget = ?
Cost Baseline + Management Reserves
Cycle Time = ?
WIP / Throughput
Throughput is the amount of work that can be done in a time period (ratio or i.e. 5 tasks / day)
what would the cycle time of feature A, if it requires 60 points of work and the team can complete 5 points per day?
60/5 points per day = 12 days
Total Float or Float or Slack = ?
amount of time you can delay an activity without delaying the entire project
LF - EF or LS - ES
Free Float = ?
amount of time you can delay an activity without delaying the next activity
ES of next Activity - EF of current Activity
