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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Estimate to Complete – 3 ETC Formulas For The PMP Exam

estimate to complte

Estimate To Complete is a very important Earned Value Management (EVM) concept. In this post, I will define Estimate To Complete (ETC) and explain its utility in project management. Estimate To Complete Formulas and other Earned Value Formulas are important for the PMP exam. Most PMP Study Guides just list these formulas without really explaining […]

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What is the Difference Between Project Effort and Duration?

project duration and effort

I recently posted a series of articles on Project Network Diagrams. I wrote an article on Start to Start Relationship. I described the relationship using a small example. While explaining the example I wrote a statement – “The Project Team will need a total of 3 days to complete these activities”. A very senior 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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What Is The Use Of Standard Deviation In PERT Estimation?

use of standard deviation

What is the chance of getting a ‘Heads’ in a toss of a coin? You would say that’s easy. There is a 50% chance of getting a Heads. Or you would say Probability of getting ‘Heads’ is 50% or 1/2. What is the chance of getting a ‘Six’ in a throw of a dice? You […]

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