Quick Reference for Earned Value Management Formulas If you are looking for a comprehensive list of all the Earned Value Management Formulas, then you are at the right place. If you are preparing for PMP® Exam, you will find all the Earned Value Formulas. This article would provide you with a step up in doing … Read more Earned Value Management Formulas
You might be wondering what Estimate To Complete (ETC) is in project management and why there are so many ETC formulas. I have written this post to explain ETC in complete detail. You will find a complete discourse on ETC including its definition, example, and calculation formulas in this post. You will also understand the … Read more Estimate to Complete (ETC) Formulas In Project Management
Quick Reference on Three Point Estimate I have written a series of articles on Three Point Estimate and related concepts. Before reading this, you should look at my first article of the series. I have explained the basic concept of Three Point Estimate in my first article. I have also explained that PERT is not … Read more Three Point Estimate Formulas
Do you find Earned Value Management System a difficult concept? I generally ask the above question in my class before I start explaining what is Earned Value Management System. Usually I find most of the students have not even heard about Earned Value Management System, let alone gauge its difficulty. On the other hand, a small … Read more Earned Value Management System Explained in Easy Language
Project estimation is the most fundamental aspect of Project Management (PM). Analogous and parametric estimating techniques are most commonly used methods. You will find definitions, detailed description, and examples of these techniques in this post. You will also get to know about the difference between Analogous and parametric estimation. This post should help PMP aspirants, … Read more How To Use Analogous & Parametric Estimating Techniques?
I have described Program Evaluation & Review Technique (PERT), Critical Path Method (CPM) and Standard Deviation in complete detail this post. I have talked about how they are related to each other and how they can be used together. What is Critical Path Method (CPM)? Critical Path is the Longest Path in the Project Network. … Read more The Ultimate Guide To Use PERT, CPM & Standard Deviation Together
You might be looking to understand the usage of standard deviation in PERT estimation formula. PERT is an acronym for Program Evaluation and Review technique. This technique is used to determine duration and cost estimates of a task. In this technique, a weighted average (mean) of three different estimates is used to determine the final … Read more How To Use Standard Deviation In PERT Estimation Formula?
Three point estimating can be done in two ways – one is by applying Beta Distribution technique, which uses PERT (Program Evaluation and Review Technique) formula and other is by applying Triangular Distribution technique, which calculates simple average. Just like any other estimation technique, 3-point estimation can be used for estimating duration or cost of … Read more How To Use PERT Formula In Three Point Estimating?
To Complete Performance Index (TCPI) is a forecasting technique of Project Management (PM). It is the cost efficiency required to complete a project within a defined budget. I have written this post to provide detailed explanation of To Complete Performance Index. After reading this post, you will understand TCPI definition and meaning. learn about TCPI … Read more How To Use To Complete Performance Index (TCPI) Formulas In PMP?
You might be thinking why there are so many Estimate At Completion (EAC) formulas in project management and how are they used for Earned Value Management (EVM) calculations. EVM full of confusing terms and formulas. Estimate At Completion seems like a misnomer. Well! How can you estimate anything when it is already complete? I have … Read more Estimate At Completion (EAC) Formulas In Project Management