Tag Archives for " PMP Formulas "

Critical Path Analysis Example – 2 Ways to Calculate Critical Path

critical path analysis

Critical Path Analysis Example – Using 0 and 1 Method I got introduced to Critical Path Analysis in the year 1997. I am a software engineer by education. I learned most of the project management concepts while managing software projects – Critical Path Analysis was one such concept. I learned about Critical Path while using […]

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How to Remember Point of Total Assumption Formula?

Point of Total Assumption

Point of Total Assumption Formula in Fixed Price Incentive Fee Contract How do you remember any formula? Simple! Understand the concept you will not need to remember the formula. I heard about Point of Total Assumption when I was preparing for PMP® Exam. At the beginning, it sounded very funny. One of the meanings of […]

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6 Main Formulas of a FPIF Contract

fpif contract

Incentive Calculation in a FPIF Contract In my previous post, I described Fixed Price Incentive Fee Contract (FPIF). In this article, I will discuss the formulas and incentive calculations for an FPIF Contract. Let me summarize the basic nature of the contract before getting into formulas and calculations. The basic nature of a FPIF Contract […]

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PMP Formulas Behind Contract Types

contracts types

Mathematical Orientation of Contract Types Procurement Management Knowledge Area of PMBOK® Guide defines 3 different Contract Types. I have already written two articles to explain these Contract Types. Contract Types explained through an Example Contract Types for PMP® Exam I have written this article to provide a completely different perspective to the Contract Types. This […]

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How To Use Estimate to Complete (ETC) Formulas In Project Management?

estimate to complete

You might know that Estimate To Complete (ETC) is an important metric for Earned Value Management (EVM) calculations. ETC formulas are used to compute the cost of remaining project work. Even though ETC is a very important concept, it is explained sketchily in Project Management (PM) books and literature. Many PM books and PMP Study […]

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Project Effort vs Duration vs Elapsed Time: Are They Different Or Same?

project duration and effort

What is the difference between project effort and duration? Do work and effort mean the same thing? What’s the distinction between project duration and elapsed time? I have written this article to answer these kind of questions. You find difference between and explanation of project effort vs duration vs elapsed time in this article. Project […]

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The Ultimate Guide To Use PERT, CPM & Standard Deviation Together

pert cpm

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. […]

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