It is a universal fact that project managers are required to perform simple as well as complex computations and calculations for their projects at any stage of project management. This guide will walk you through the most important PMP formulas used in these calculations. The PMP exam necessitates the understanding and application of such formulas, which allows the assessor to gain a better understanding of the examinee’s knowledge and potential. Currently, online PMP Certification training is also available.
One of the most important things that an aspirant must remember while learning the formulas is that they are not as difficult as most people believe. The following are the key PMP Exam formulas that everyone should be familiar with:
Activity Variance Present Value Standard Deviation
PERT (Project Evaluation and Review Techniques) Estimation in Three Dimensions
Channels of Communication
Variance Cost Performance Index Scheduling Estimated Monetary Value at Completion Performance Index Variance at Completion Expected Monetary Value at Completion
Total Float and Total Assumption Point
Methods for Memorizing PMP Formulas
While there are numerous methods for memorizing and retaining PMP formulas, some of the most popular include using Flash Cards, manually writing them down, and/or using various apps available on smartphones throughout the market. According to experts, the following are some pre-exam hints:
Study the formulas until you are comfortable reciting them.
Every day, practice by writing the formulas at least 5-6 times.
If you make a mistake, get to the bottom of it, understand it, and correct it.
Do this at different times of the day for at least two weeks before the exam date.
Once you are confident in your understanding of the PMP formulas,
You should have someone time you.
As quickly as you can, jot down the formulas (Start with a max of 15 minutes).
Do this 5-6 times per day, and if you make any mistakes, go over them again.
Every day, strive to improve on the previous day’s timing.
At least a week before the exam, try to get your timing down to 5 minutes.
On the day of the PMP examination
You will be given three blank sheets of paper to complete Math problems on.
A tutorial will familiarize you with the commands before the actual computer exam begins.
You could spend some of this time writing down the formulas on one side of a blank piece of paper.
For formula-based questions on the exam, you can refer to this paper – this is acceptable.